What isn't said in the news is the fact that nobody put a gun to the head of all those folks who decided that they HAD to buy that expensive house and roll in their credit card debt into the same loan (110% + loan). They made their own bed, so they need to lie in it. I know that sounds harsh, but as a taxpayer, I'm tired of paying for someone else's bad decisions and there needs to be an end to it.
There has been a long time racket that involves the circle of realtors, mortgage brokers (don't confuse them with bankers -- totally different animal), and appraisers. Brokers aren't regulated by FDIC, OCC, or state bank commissions. They're the unregulated used car dealers of the home loan world and operate off commissions just like the used car dealers (and realtors). Here's the skinny: Realtors refer their customers to their "recommended" mortgage broker and the broker uses his "special" appraiser who will make that house appraise for whatever it needs to appraise for in order to make the deal go through. Do you smell the kickback $? Everyone in the real estate and financial world knows that this has been going on, but NOTHING has been done to correct the problem or to hold accountable those who are involved. As a result of this racket, we end up with overinflated real estate values (here comes the tax man). This has gone on for years and, as history will prove, the bottom will eventually fall out and someone ends up holding the bag. Hopefully the taxpayers don't get stuck with the bill again.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Show Coverage: Central Illinois Strawberry Festival - by Cindy Ladage and Janna Seiz. Every year the coming of summer is highlighted by different events for different people. For some, it is heralded with the end of school, tilling the garden, or completion of the planting season. To us, connoisseurs of find food, antique tractors, farm toys, crafts, and downright fun, the annual Strawberry Festival means summer is here. Every year, in Carlinville, Illinois, the Macoupin County Historical Society and the Macoupin Agricultural Antique Association team up to fill th
... [Read Article]
Latest Ad:
1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
