Letters to the Editor

Your views in 200 words or less

Tag: mortgage


BANKS: Lenders making out like bandits

Re: “Profits soar at 2 largest mortgage lenders” (TNT, 10-13).

This article was tempered with information about the big banks’ tax write-offs, considering their predatory behavior led to the collapse of the housing market.

The bankers knew the risk involved with ARM loans, questionable second mortgages and easily available equity credit. To protect themselves, the banks bundled the loans and sold them to unsuspecting investors, making a profit on top of the home loans.

When the economy collapsed, the banks claimed they were on the brink of insolvency and turned to the federal government for help. The taxpayers were

Read more »


HOUSING: I was robbed for six years last week

My title sounds odd, but my story illustrates its suitability. The U.S. Army assigned me here in 2006. I purchased a home and made a hefty down payment. Then the federal government’s Freddie Mac and Fannie May facilitated housing crisis began.

Because of my hefty down payment, and paying my mortgage for six years, I was able to stay above water. The value of my home was more than what I owed. Then last week I received the 2012 Pierce County Real Property Value Notice.

Bam! I was under water. Me, who has not ever missed a mortgage payment, utility

Read more »