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Can home owners sue for loss of their property value?

Discussion in 'Deed in Lieu of Foreclosure - Do You Need Help to ' started by srhadden, Feb 12, 2009.

  1. srhadden

    srhadden LoanSafe Member

    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?
  2. cactus77727

    cactus77727 LoanSafe Member

    Sue them? I say we destroy them. The more I think about it, the more I'd like to see every one of the mega huge banks fall. They are already insolvent.

    If enough people wanted to, we could bring them down. Just don't do business with them any more. They have ruined our country. JP Morgan Chase, Goldman Sachs, Wells Fargo, Bank of America, Citigroup, and others. They must all be destroyed. And then, the Fed in it's existing form, must be abolished. :mad:

    After this mess blows over, there are plenty of local credit unions and local banks to take your business too.
  3. kymburley

    kymburley LoanSafe Member

    I've quit using the banks too. It's unfortunate that the military requires direct deposit. So, on payday I go and pull all the cash out, pay my bills, and stick the rest in the fireproof, floodproof safe.

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