I haven't seen many reactions to the arrogant Baum Halloween party photos that argue for full-throated support of their horrible business practices and their even more horrible attitudes. At least, until I visited Oliver Willis' blog and found this comment from Moonbat Monitor:
If the people can’t pay their mortgage, and the investor will not agree to modify the loan, or the mortgagor doesn’t qualify for anything…..what do you expect to happen? Free houses for everyone? Yay!!! Banks don’t *want* to foreclose on homes. It costs them on average about $40,000 to do so. But at some point, the people that just can not afford these houses need to GTFO, or this market will NEVER recover. If I can’t afford my car, it will get repossessed. That’s the way the real world operates. I’m not very inclined to argue with anyone here about this, because you’re all ignorant in regards to this subject and how this works, where as I am an expert.
Anyway, we make fun of these losers where I work too. It’s awesomely hilarious. Especially when I get an escalation, and I jokingly act like Commodus from Gladiator, and give the thumbs down, thus making another putz that never should’ve had the house in the first place homeless. Go rent an apartment. Losers. A lot of these people have been sitting in these houses for years without paying a damn thing, or bothering to contact their mortgage servicer.(particularly in judicial states) We can’t go to their houses and FORCE them to fill out paperwork. Then foreclosure time finally comes, and THEN they want to complain about getting kicked out. Sorry, that isn’t the way it works. And I see it every day.
Sad that so many here are completely ignorant of the ins/outs of this industry.
Oh, isn't that all so personal responsibility-ish and everything? Only, the first condition in that commenter's sentence ignores people like this homeowner, who tried to catch up on her mortgage payments but was refused, told to modify her loan, and when that didn't work, One West foreclosed on her. Foreclosed on her, even though she had the money to catch up the loan payments. I wonder what Moonbat's explanation is for that?
Just to refresh our memories, here's a good description of what foreclosure mills like Baum do.
Foreclosure mills cut costs for banks by cutting corners—when they can’t compile the documentation needed to push families out of their homes right now, they simply fabricate the documents. Still worse, these guys illegally withhold documentation from borrowers seeking to negotiate loan modifications with their banks—effectively forcing borrowers out of their homes instead of allowing them to cut a deal with the bank. When borrowers actually do straighten things out with foreclosure mills, the scumbags slap them with huge illegal fees. Kroll details a foreclosure mill that erroneously tried to evict a Florida couple who had been paying their mortgage on time. When it became clear that the couple could not be kicked out of their home, the foreclosure mill tried to charge them $18,500 in fees for mistakes committed by the foreclosure mill and the bank. The foreclosure mill even invented two new people who it said lived in the home in order to demand four sets of legal processing fees instead of two.
Maybe this is just me, but I wouldn't be out on blogs bragging about being an expert in these things.