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Detailed text transcripts for TV channel - MSNBC - 20130518:00:45:00 - Vimarsana News

Detailed text transcripts for TV channel - MSNBC - 20130518:00:45:00

Went to wells fargo was for 13 years. and he never missed a payment. in 2007, he refinanced, into one of the most predatory kind of loans called a pick a payment. now considered to be among the most predatory and deceptive loans made during the height of the housing bubble. the new loan meant that he was now paying 75% of his disability just to make his mortgage. and so, he started collecting cans and bottles to help make end meet. but he still made the mortgage payments, according to the complaint and according to review of court documents. in fact, he had a habit of making payment in advance...

Detailed text transcripts for TV channel - MSNBC - 20130518:00:46:00 - Vimarsana News

Detailed text transcripts for TV channel - MSNBC - 20130518:00:46:00

Mistook his lot number for a neighbor's. that subcontractor used the wrong lot number. so here he is, disabled veteran, making those payments, grinding it out, refinanced into a predatory loan during the peak of the boom years. still making payments by collecting cans. then told he owes $13,361 in back property taxes that he did not actually owe. eventually wells fargo would acknowledge they made a mistake and they still held him in default and took his home from him. selling it on may 13, 2011 for a profit of $17 8,257. now the precise facts of that default are in dispute. it is entirely poss...