Ok we know you lost most of your 401k, your IRA, and the value of your home in what is politely called the crash of ‘08 but now is not the time to look back and wonder where your future went. It doesn’t take a rocket scientist to figure out that you were set up. Yes it was all too easy — the guys taking your retirement money said with a straight face the funds they sold you were safe — a sure bet. Gee did they mention derivatives or that their firm was pumping funds that gave them bonuses or that the so called rating agencies that told you the investments were safe got paid by the funds. As for your house did you ever read the last 5 pages of your too sweet mortgage that put you in rates that would explode in 3 years? DId the broker or mortgage banker ever look you in the eye and say, “You you can’t afford granite counter tops?” NO!
You got suckered but now Congress has a crack team “investigating” the financial crisis. It sounds great but wait there’s a kicker,– the vice chairman took $1.6 million from banks and real estate firms and currently works for a law firm that yes represents banks. Wow – that’s convenient — but don’t panic.
The I-Guy says its time to step up the plate and guarantee your voice is heard and get a seat at the table. In order to do that we have a simple solution — buy a seat at the table.Y es we know you are broke and you are losing your house but it’s important, so the time to act is now. Proceed to your kid’s bedroom and grab their penny jar. Don’t worry — he won’t miss it for a few hours and run to your Fedex (shamelss plug) and send the change to Bill Thomas at his law firm. You can let him know you’re a player and want in. A ballsy man who can take $1.8 million from banks, insurance and real estate companies — and then investigate them truly knows the value of a buck… or loose change. Just add a simple note telling him that you hope he has got your back and not your wallet.
We lost our home in Tennessee when they started to tell us “we do not know how they were able to get that kind of value out of you home” The value dropped everytime we tried to get an appraisal and yet now it is gone and they are telling us that we owe them the difference of what it sold for and the loan amount. we had mortgage insurance on the loan what can we do?
I-Guy REPLIES
Seek legal advice from Legal Aid .Millions of American are in your situation, 1/3 of Calif homeowners underwater and faced with losing their homes. The bank threat is a threat and just that. Can they sue the millions in your position?. Tell them to collect from Wall Street!