Neighbors: Exec. moved into bank-owned beach home

A Wells Fargo & Co. executive who oversees foreclosed properties hosted parties and spent long summer weekends in a $12 million Malibu beach house, moving into the home just after it had been surrendered to Wells Fargo to satisfy debts, neighbors said.

[jimi doss]

Typical Wells Fargo BullCrap !!!!!!!!! Anyone who continues to mbank there is insane :(:(:(

[Living In Margaritaville]

How funny, let alone real estate agents are worse the used car salesmen, now the loan officers themselves who already scum of the earth have now reached the core!

[trisha0790]

It's been noted by economists, journalists, real estate people and analysts that there is a huge shadow inventory of bank owned homes that aren't re-listed on the MLS after subsequent foreclosure.
I have heard speculation that the banks were keeping the houses for themselves or their political buddies. I laughed when I heard this and told the party who relayed this "fact' to me that she was being ridiculous and paranoid.
I think I owe her an apology!

[Chris1982]

trisha0790 wrote:

It's been noted by economists, journalists, real estate people and analysts that there is a huge shadow inventory of bank owned homes that aren't re-listed on the MLS after subsequent foreclosure.
I have heard speculation that the banks were keeping the houses for themselves or their political buddies. I laughed when I heard this and told the party who relayed this "fact' to me that she was being ridiculous and paranoid.
I think I owe her an apology!

as far as i know the banks arent required to sell the houses when they foreclose on them...the bank now owns the house and can do what they want with it

[Melvin]

Chris1982 wrote:

<quoted text>
as far as i know the banks arent required to sell the houses when they foreclose on them...the bank now owns the house and can do what they want with it

So the banks stockholders get hosed too?

[Yep]

Melvin wrote:

<quoted text>
So the banks stockholders get hosed too?

no not at all it's the taxpayers and the TARP funds that have enabled the banks to keep all this housing inventory off the market while they wait for a recovery. So our taxdollars have let the banks obfuscate and roll along as if nothing is wrong all the while denying credit to homeowners, businesses and whomever else they deemed as unworthy and keeping the economy in recession.

[woot]

Bernie Madoffs Cell Mate wrote:

Cheronda Guyton is a proud afromerican squatter. She deserves to live there. Her great great grandmammy's grandmammy was probably a slave so she is entitled to some reparations.
The only problem is that Cheronda threw one too many boogaloo parties and her jewish neighbors didn't like the rap music.

Yeah I think you hit the nail on the head here. It was kind of funny how the neighbors got peeved but the whole African American rap party thing was probably over the top for these folks and their gated community LOL

[Bernie Madoffs Cell Mate]

Yahoo had this as one of their lead stories but as soon as it becakme clear that Cheronda could be from the protected class, and the neighbors were jewish, the story mysteriously was removed.

Under normal circumstances, the stories are rotated and you can look through them. Strange how these things happen, isn't it?

[tip top]

Cheronda Guyton is scum. Greedy, greedy, greedy scum. Period.