ED Magedson – Founder
Indymac, Onewest Bank, Countrywide, Bank of AmericaInternet, California United States of America
Surely you know someone touched by a foreclosure. Do you want to know how the rich are getting richer and you are being raped? watch this video: http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1014789
Apparently Stimulus money is being paid to the investors that purchased failing bank loans (like Indymac bought by Onewest Bank and Countrywide bought by Bank of America) when they foreclose on the homeowner. The investors are getting stimulus money on the difference between what they sold the house for at the foreclosure sale and the Original loan amount. Plus they purchased the loan at 70 cents on the dollar, so they are making more money off the house than the original loan amount foreclosed on. Your tax dollars are being spent for this. The only way to stop this is to get angry and pass this on. Surely you know someone who has been foreclosed on or in the process..... The stimulus money was to help the people, not get the rich richer! Tina
This report was posted on Ripoff Report on 02/08/2010 11:36 PM and is a permanent record located here: http://www.ripoffreport.com/r/Indymac-Onewest-Bank-Countrywide-Bank-of-America/Internet-California-/Indymac-Onewest-Bank-Countrywide-Bank-of-America-Indymac-and-Countrywide-want-to-forec-566528. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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