these banks are a joke

Free and clear is the only way otherwise its not mine & even then its only worth what someone will pay for it.

 

Our society has turned on its nose. The BORROWER now has more rights than the LENDER. What would you reasonably expect to happen in a situation like this? Everyone that know me tells me they are thankful that "I am looking out after THEIR deposits". Remember, we're loaning YOUR money.....and you want the bank to not raise rates when our costs to borrow increase? BLAME IT ON BARNEY FRANK AND CHRIS DODD FOR CHRIST'S SAKE. Watch the Chrysler bankruptcy....Indiana has just filed suit claiming the Obama Admin forced it into the arms of Fiat. The UNSECURED creditors got more than the SECURED bondholders!!!!!!!!

 

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Bingo.

 

once again, i have no problem paying the piper. however, how do they justify raising rates for little things...and so much at once. THAT is my issue. it took them 5 months to drop a point (i was looking to refi in jan when rates dropped to 5). Then all of a sudden, back up to mid 6s in the span of a week. It finally came back down to low 5s/high 4s and stayed there for a couple weeks before it shot back up now. much like gas prices

lower= slooooow
raise=fast!

then like my heloc, you agree on terms, and then they go and CHANGE them on you so that you cant get your money back. why should i have to be penalized, the one that has paid every payment on time and over the amount asked for?

 

How does any business make a profit when it loses BILLIONS...it raises its prices. ANY business would do this. Too many people, especially liberals and the left think the banks are some kind of "social tool" and every American has some kind of God given RIGHT to own a home. This has been and will be disastrous for all Americans. We're a profit making company! Hell, we had to raise $33BN in Common Equity just because Geithner's cockamamy stress test said we did?!?!! If it turns out we didn't need it, what happens then? The new Credit Card bill requires banks to provide advance notice of rate increases. It also REQUIRES that banks NOT extend credit ABOVE internally approved credit limits withour getting the card holders written consent to do so!! How the hell do we do that?!!!?? Get the fuckin gov't out of the banks and we'll make it work again. You have to understand one thing, we are going to have to find ways to pass through to our clients higher costs of capital and loan losses. You want someone to piss on? Find all the people that defaulted on their mortgages and credit cards for no reason other than they are IDIOTS and DEADBEATS. I see them every day...in the hundreds and thousands. SHAME ON THE BANKS FOR LENDING TO THEM. We learned....credit will be more difficult to get in the future. Thank Barney the meat eater and Chris the retard for that. Because they LET IT HAPPEN and SOWED THE SEEDS.

 

i dont disagree, but you continue to skip over my issues.....

1) raise over night, drop over months.
2) re-appraise your house super low on the helocs so they dont have to give out money...they agreed on a price when you closed.....

 

You didn't answer my question: Did your house drop in value or did it not? If you read your Heloc contract, I am confident it gives the bank the right to re-appraise it's collateral. Your contract also includes language that allows the bank to re-set the interest rate.

 

I dont know if it dropped in value or not. According the appraisal I got 3-4 months ago, it dropped 10K, or 2% since i bought it 2 years prior. According to the bank, it dropped 25%. That's quite a difference.

I sent my info the the appraiser again for the new re-fi to see what happens. He's gonna do a computer check before coming out so I don't have to shell out another 400 bones to find out it's not worth enough. I have put close to 15K just in materials, most I got good deals on. Plus I did all the labor, so figure 30K invested in just the kitchen to an average joe and another 3K in electrical upgrades (larger panel and service). If I get half of that back, I should appraise for a tad over what I bought it for....If I go by the 4 month old appraisal.

 

You should challenge the bank's appraisal. Call them up, tell them what happened and explain to them why you think they should re-instate your HELO limit. You never have to just "roll and over and accept it". Be civil, fair, businesslike....and if you don't get satisfaction, move your accounts and business elsewhere.

 

I blame a lot of what we are experiencing on the democratic controlled congress. A lot of people blame the banks which is partly true but congress past a housing law that would require or make banks hand out loans to people who could not afford them and dumb ass Barney Frank who has his finger prints all over this financial fiasco.

 

Well, I totally agree. Banks have been made instruments of social policy, not credit worthiness. The Community Reinvestment Act has extorted hundreds of billions, if not trillions, from the American depositor base. It is depositors and shareholders who have to stand up to this.

 

did you read my link?