Why Does George Soros Want to Steal My Home?
Introduction
Those two images above used to mean something. Honest Abe and the American flag meant the rights of American homeowners were always protected against unreasonable treatment by banks and lenders. After all, a man's (and a woman's) home is his/her castle. My little castle, after 55 years of work, 30+ of which was as either a vocational or juvenile counselor, is pictured at your left.
My wife, after 30+ years of employment as an orthopedic technician and medical office manager, had sustained a severe neck injury in 2002, which included the rupture of 4 cervical disks. A botched fusion with a broken plate, a screw that still remains at the risk of paralysis, and some seven surgeries later to her shoulder, both wrists and thumb, and she is totally disabled. So, in 2004, I discontinued my vocational rehab counseling business to become her full-time caretaker and took early Social Security Retirement, which amounts to less than $1000 per month. In 2006, we purchased this home to be our retirement home because it has no steps and is very handicap-friendly.
I asked the question above as to why does George Soros want my home. The history is that Indymac Bank went belly up in 2008 and was taken over by the FDIC. George and billionaire John Paulsen started ONE WEST BANK and bought the assets of Indymac Bank, paying 70% of face value for 1st mortgages, and 58% for 2nds. Then, I found this little gem.
Those two images above used to mean something. Honest Abe and the American flag meant the rights of American homeowners were always protected against unreasonable treatment by banks and lenders. After all, a man's (and a woman's) home is his/her castle. My little castle, after 55 years of work, 30+ of which was as either a vocational or juvenile counselor, is pictured at your left.
My wife, after 30+ years of employment as an orthopedic technician and medical office manager, had sustained a severe neck injury in 2002, which included the rupture of 4 cervical disks. A botched fusion with a broken plate, a screw that still remains at the risk of paralysis, and some seven surgeries later to her shoulder, both wrists and thumb, and she is totally disabled. So, in 2004, I discontinued my vocational rehab counseling business to become her full-time caretaker and took early Social Security Retirement, which amounts to less than $1000 per month. In 2006, we purchased this home to be our retirement home because it has no steps and is very handicap-friendly.
I asked the question above as to why does George Soros want my home. The history is that Indymac Bank went belly up in 2008 and was taken over by the FDIC. George and billionaire John Paulsen started ONE WEST BANK and bought the assets of Indymac Bank, paying 70% of face value for 1st mortgages, and 58% for 2nds. Then, I found this little gem.
Based upon this formula, ONE WEST BANK would have purchased my 1st mortgate for $226,800 ($324K x 70%), and the 2nd mortgage for $39,440 ($68K x 58%). That is a total expenditure for them of $266,240. Now let's apply their formula to see how they will make out on this transaction.
So, ONE WEST BANK now receives 80% of its "loss" from the taxpayers through the FDIC or $107.680!
Now, let's say they receive a bid of $250,000 at auction or for a short sale. $250,000 plus the $134,360 they already received puts a total of $384,360 in their pockets.
Subtract the $266,440 they paid and they make a nice profit by STEALING my home in the amount of: $117,920.
- Face Value (1st and 2nd) = $392,000 (2nd automatically wiped out in foreclosure).
- Net Face Value = $324,000
- Price Listed at Auction = $257,640 (no bids, house did not sell). Even at this amount, they would make over $30,000 profit as they paid $226,800 for the 1st.
- Adjusted "Loss" for ONE WEST = $134,360
So, ONE WEST BANK now receives 80% of its "loss" from the taxpayers through the FDIC or $107.680!
Now, let's say they receive a bid of $250,000 at auction or for a short sale. $250,000 plus the $134,360 they already received puts a total of $384,360 in their pockets.
Subtract the $266,440 they paid and they make a nice profit by STEALING my home in the amount of: $117,920.
Results of the Planned Equity Theft
of American Homeowners
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