Loans, Debt & Credit - View Single Post - Can home owners sue for loss of their property value?

srhadden · 02-12-2009, 04:38 PM

Has there been any discussion about home owners going after these banks for inflating the housing prices and causing people to lose all of their equity in their homes?

I saved up 40K for over the course of 7 years and finally bought a house in northern california. Now my house is 200K under water and I will never get that money back. I was not gambling on the stock market. It was technically an investment, yes, but the facts I had available about housing prices were all based on rampant fraudulant activity from the banks. I did not have correct information that I was purchasing a super-high-risk investment.

Why aren't we suing these banks and forcing them to give us their bail out money?

02-12-2009, 04:38 PM	#1 (permalink)
srhadden Member Join Date: Jan 2009 Posts: 29 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Can home owners sue for loss of their property value? Has there been any discussion about home owners going after these banks for inflating the housing prices and causing people to lose all of their equity in their homes? I saved up 40K for over the course of 7 years and finally bought a house in northern california. Now my house is 200K under water and I will never get that money back. I was not gambling on the stock market. It was technically an investment, yes, but the facts I had available about housing prices were all based on rampant fraudulant activity from the banks. I did not have correct information that I was purchasing a super-high-risk investment. Why aren't we suing these banks and forcing them to give us their bail out money?