Oh who do I trust more? The common thief of the common banker.

[shah269 0]

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Yup.
If that is an individuals mind set on contracts they have agreed to, I'd bet good money (that I didn't borrow) that they do not have anywhere near an 800 FICO score.
To me, that reeks of dishonesty.

me? Sorry I do. I like a dumb ass worked hard on developing my credit score. one credit card no out standing debts other than my home.
At the moment it's 790,795 and 800

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[DougH 270]

Why do you care about your credit score. It is only relevant to people who want to engage consumer lending with the banks, something you obviously want to free yourself from!

"The restraining order says you're only allowed to touch me in freefall"
=P

[normiss 917]

Then walk and quit cher bitchin'.

Just be ready for the bank to sue.

[lawrocket 3]

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That said, yes I don't mind paying a filing fee. Such is life and the cost of business. But $3k i mean really! That is just sick.

That's your impression. Have you shopped elsewhere? Looked for a mortgage banker? I mean, there is more than one place.

$3k sounds about right - even a little low compared to what I've seen.

My wife is hotter than your wife.

[shah269 0]

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That's your impression. Have you shopped elsewhere? Looked for a mortgage banker? I mean, there is more than one place.

$3k sounds about right - even a little low compared to what I've seen.

I have and there isn't much if anything I can do.
I'm 26% under on a property I care little about.
And her and I are both on the loan...it's just a mess really.

And it's not as if I'm doing this to save money or make money or am in any way changing things aka refinance. I have demonstrated via paperwork that I was the sole person responsible for covering the costs associated with the property.

But what can you do right? Another pint of my blood sent off to the vampire.
Funny, I really would not want to foreclose on the property, would rather just sit there and wait it out and break even in a few years or maybe sell it as a slight loss. But now there is bad blood.
I reached out with good intentions and was rewarded with insults on my character.

Maybe strategic default is the only real bullet the common man has in this war. After all who is on the side of the common man? The feds?

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[billvon 3,173]

>Maybe strategic default is the only real bullet the common man has in this war.

Sure. Problem is the banks and the IRS have some better bullets. (And BTW admitting on a public forum that you plan to defraud the bank might give them a few more bullets.)

[jclalor 12]

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Why do you care about your credit score. It is only relevant to people who want to engage consumer lending with the banks, something you obviously want to free yourself from!

Do you really think having a good credit score is only important for consumer lending?

[DougH 270]

No I don't really think that, but the alternate uses don't have much use for Shah either. I don't think he plans on being a viable tenant after he walks away from his current mortgage. And it shouldn't matter that possible employers will check his credit score after he finishes his MBA, why would they care about that right?

And does it really matter, this is just version 5.0 of the same thread that has already been gone over again and again.

Shah made bad choices, fell on bad luck, but it makes him feel better to trash the bankers than to be realistic about his situation.

"The restraining order says you're only allowed to touch me in freefall"
=P

[rehmwa 2]

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.....$4 per transaction. But taken and expanded across the nation think of how much capital is being soaked up by these banks and not reentering the system creating jobs and moving the economy.

I had no idea the banks just take that money and burn it in a bonfire

(I these fees are crappy, too, but that statement just begs mockery)

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[shah269 0]

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>Maybe strategic default is the only real bullet the common man has in this war.

Sure. Problem is the banks and the IRS have some better bullets. (And BTW admitting on a public forum that you plan to defraud the bank might give them a few more bullets.)

I also plan on speeding home as well.
What more can they do to me?
Really?
I pay my bills, I hold up my end of my agreements.
And what can the IRS do?


Look the system is broken. Be it $4 a pop fee for taking out your own money to $3k in fees to remove a name off a piece of paper.

How can I put it to you in terms you can understand....speaking with my uncle who works on property development in Iran and international investments stated to me the other day "The US banks were bailed out, they were in the eyes of all in the world empowered to the point where they now have all the power and all of the cards. Why would anyone do business in the US? The banks are not accommodating and it's their way or the high way...oh and they charge for every single sheet of paper they can...thanks but no thanks."

So to sum it up, in the global market place, banks owned and operated by Iran's government are more accommodating than those in the US? And more reasonable? You know something is wrong.

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[shah269 0]

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.....$4 per transaction. But taken and expanded across the nation think of how much capital is being soaked up by these banks and not reentering the system creating jobs and moving the economy.

I had no idea the banks just take that money and burn it in a bonfire

(I these fees are crappy, too, but that statement just begs mockery)

Bur it in abonfire...use it to pay over the top compinsation....what's the difference?

But from the sounds of it, it appears that the banks have started eating themselves from the inside out.
GS is laying off, BA is laying off, Chase is thinking....

Funny, the give me more and more attitude has started to come back home. I wonder how many of those guys and gals may start complaining about the fees they are paying on their accounts?

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[DougH 270]

The IRS can and will assess tax on the remaining balance of your loan. Cancelation of debt income. That is what the IRS can due.

The bank can and hopefully will sue you, for deliberately breaking a contract that you made, and that you are in a position to make good on. Too bad you will probably be sheltered from this by all of the other home owners who lost their jobs and CAN'T pay their mortgage. Which of course is a huge difference from some one who CAN pay their mortgage but won't.

The banks just can't keep up, but your strategic default would be deserving of a judgement against you, and wage garnishment.

"The restraining order says you're only allowed to touch me in freefall"
=P

[chutem 0]

If you did the re-fi you were looking at before would you be able to remove your ex's name in the same transaction? If so that would be 3K of the I think $15K they wanted to do the re-fi and lower your payments.

James

[shah269 0]

So....it is all I have left?

Cool!

Not that I want to do it but it's a very nice NUCLEAR option on the table.

But for now, I would like to just pay $600 to remove someone's name off a piece of paper not $3k when I have proven that I was soly responsible for said debt and have proven this via various certified documents.

Look here is how banking works, I entrust that you won't screw me and that I won't screw you. It's a nice agreement that worked for many years! But well...over the past 15 years or so one side has been getting screwed a bit more than the other. Perhaps we need a leveling of debt.

But who am I kidding? I'll just suck it up and pay my pound of flesh...aka $3k to ensure that the CEO has a nice fat paycheck come end of the year.

As a good friend who works for the world bank once told me over a $15 martini "The rich will get richer, the poor will die off and the middle class.....well there is always Mexico?"

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[shah269 0]

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If you did the re-fi you were looking at before would you be able to remove your ex's name in the same transaction? If so that would be 3K of the I think $15K they wanted to do the re-fi and lower your payments.

James

James thank you but why throw good money after bad? $20K+ for a refi on a property I hate?
And at a savings of $200 a month....how many years to make that $20k back?
If i had kids and loved the place SURE!
But I just want to be on with my life.
I'll pay filing fees....but full up closing fees to reassure some "investor"
well I'm sorry fuck you!
but what choice do we have? Ever try and argue with an ATM over the $4 fee you just paid for your own money? Or the $1 cost added to your order when you used your card to buy food?

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[normiss 917]

Wanna bet the added taxes (and penalties and fees), plus the legal costs, plus the bank suing for the difference, plus being sued for the loan, PLUS the reduction in credit rating that will cost more interest rates on any new loans EXCEEDS the costs he's bitching about???

[weekender 0]

>>Look here is how banking works, I entrust that you won't screw me and that I won't screw you. It's a nice agreement that worked for many years!

Thats not how it works. you just decided to make up your own definition to suit you.

its an agreement between two adults made in the open. You asked them for money. money you did not have. you agreed to the terms. thats it, its not about screwing anyone. its math, math has no emotion.

your animosity is misdirected but its obvious your incapable of accepting any responsibility. life must be very hard for you, having to blame others for your own short comings.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[billvon 3,173]

>Wanna bet the added taxes (and penalties and fees), plus the legal
>costs, plus the bank suing for the difference, plus being sued for the loan,
>PLUS the reduction in credit rating that will cost more interest rates on any
>new loans EXCEEDS the costs he's bitching about???

Of course. That way, in two years, he can list the IRS, lawyers, the credit agencies AND the bankers as being worse than thieves.

[Southern_Man 0]

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So to sum it up, in the global market place, banks owned and operated by Iran's government are more accommodating than those in the US? And more reasonable? You know something is wrong.

You should get a loan from one of them, then.

"What if there were no hypothetical questions?"

[shah269 0]

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So to sum it up, in the global market place, banks owned and operated by Iran's government are more accommodating than those in the US? And more reasonable? You know something is wrong.

You should get a loan from one of them, then.

Or HSBC. The issue isn't the terms of the lending, it's an issue of down right theavery.
$3k for paper work...really!

How can any one defend that? I know I can't.

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[DougH 270]

It isn't theivery. You are asking them to do something they are not compelled to do. You are asking the bank to modify a contract that you agreed to! If you don't want to pay 3K don't have them take your ex off the mortgage. Tell the judge you can't refinance, and if your ex wants off she can pony up the transaction costs.

The mortgage was between you, your ex, and the bank.

The bank has no further responsibility other than servicing your mortgage per the terms that you originally agreed to.

Further more it doesn't matter what paper trail you have that you were the sole responsible party. If that was the case you should have taken the mortgage out in your name only.

Again, your divorce has nothing to do with the bank, and has nothing to do with the original terms of your mortgage. What you describe as a simple batch of paperwork is a serious modification to a contract that is already executed. You are the party that wants the change, so pay up!

I am suprised this is such a hard concept for a MBA student!

"The restraining order says you're only allowed to touch me in freefall"
=P

[shah269 0]

It's a court order.
Remember what they tought you when you took basic business law and "Da Law"
When the judge says "Do it" you do it!
So I am and they are...but shit they are also tacking on a $3k tag to it because....well they can.

And for a guy who pays 35% taxes which I'm sure some of it went to TARP I can't help but wonder WTF!

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[weekender 0]

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So to sum it up, in the global market place, banks owned and operated by Iran's government are more accommodating than those in the US? And more reasonable? You know something is wrong.

You should get a loan from one of them, then.

Or HSBC. The issue isn't the terms of the lending, it's an issue of down right theavery.
$3k for paper work...really!

How can any one defend that? I know I can't.

my wife is a lawyer and charges $450 an hour for paperwork. she isnt a thief because she doesnt force anyone to do anything. neither does the bank. its a large contract that must be accurate and that cost money.

of course, you dont care if it makes sense. you just dont like it so its wrong.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[loumeinhart 0]

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Yeah you got it!

Look $500 in paper work sure. I can understand that.

We all have to make some cash and it is 5 sheets of paper so let's call it that, $100 per sheet.
But I'm looking at about $3k. So that's what...$600 a sheet?

Examine your TIL or HUD document. I'm sure a percentage of that 3K is pre-paid interest or 'points'. In otherwords, you may have been able to do this with less upfront money and a higher interest rate. Look at the TIL for the title costs vs points.

You do realize this was a refi right? Imagine the legal shitstorm that would happen if you were able to just 'remove' a portion of the liability on a Financial Instrument. You can't just "take someone off the loan"

Lucky you qualified for this without your wife, otherwise the bank would have just turned you down.

[DougH 270]

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It's a court order.
Remember what they tought you when you took basic business law and "Da Law"
When the judge says "Do it" you do it!
So I am and they are...but shit they are also tacking on a $3k tag to it because....well they can.

And for a guy who pays 35% taxes which I'm sure some of it went to TARP I can't help but wonder WTF!

A court order between you and your ex wife. It has nothing to do with the bank. The bank is not a party to your divorce and wasn't a party to your marriage.

The judge has no standing to enforce the order against the bank. The order is for you and you only, get it done and stop blaming the bank about it.

"The restraining order says you're only allowed to touch me in freefall"
=P