K. Hovnanian - KHOV K. Hovnanaian They can't sell the homes at 500K, yet they would rather foreclose on my 600K mortgage then modify it. Internet

Watch this video:

http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1014789

The lenders that are foreclosing are getting Stimulus money when they foreclose on you.  They get the difference between what the house sells for (and often the lender bids on the house at foreclosure) and your Orignial loan amount + costs.  Often its a new lender that is performing the foreclosure, not your original lender, because your loan was sold to a new lender at 50 to 70 cents on the dollar (that means that if your loan amount is $400,000, the new lender only bought it for $200,000.  When they foreclose on you, and sell your house for $250,000 at foreclosure sale, they get $150,000 from Stimulus money, AND the $250000 from the foreclosure sale, thus making the whole $400,000 that they only paid $200,000 for in the first place.  they have profited $200,000!  Then they get to go after you (in some states) for the difference between what they sold the house for and what you owe, too!

All the people getting foreclosed on need to unite!  Why should the rich benefit from the Stimulus funds when it's our childrens future tax monies they are stealing now.  What is all this "Obama modify plan" that is BUNK.

We need to begin a class action suit against Indymac and Onewest Bank.

Anyone care to join? email (((REDACTED)))