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WAMU: The investment of a lifetime.
Where have we heard that before?
I cant say for sure what will happen but 2024 could be the biggest year of our lives. Pray And visualize.
Happy new year to all escrowers and Coopers.
It fits with bops prediction. So it could be nothing, or just coincidences. I just think its worth pointing out so escrow people can be watchful. Check your credit lines, credit card offers, wealth management and sweep account offers, etc.
But wait! It cant possibly have anything to do with the escrows because those were deleted, right? LOL
I have been in touch with others who have had similar recent credit offerings.
Could be a coincidence. But why all of a sudden? And why has my bank suddenly inflated my annual income by 5x. I thought that was very strange because they know what my income is. A mistake? Maybe.
Bop talked about receiving credit offers in advance of disbursements to escrow holders several months ago. I didnt think about it at the time. But now her prediction may be making some sense.
She said credit offers and loans would be how brokers and banks would make money from this.
So for instance, they do all they can to get our business now. Say, Capital One offers you a zero percent card and you take them up on it. Then in 4 months there is a Libor settlement and you get a windfall. You may say, they were good to me back before I had this money, so now Im going to deposit 250k in their bank because I like the way they do business. Good will.
Plus, if you take out loans against the funds in your account, you avoid taxes you wouldve incurred had you withdrawn the funds from your escrows IRA.
So many ways to look at this.
Lets see if escrowers start to get more offers. Of course many dont like to talk about their private finances online, and thats understandable in these days of rampant hacking.
Be Very careful. IF money comes keep it private. 250k per account is max for FDIC insurance, so a sweep account may be wise to spread out your funds among several banks. Get a financial planner and the best tax person you can find.
Yes. Most are private about their finances.
COOP rising due in large part to 2.5% coming to them IMO. Not sure if they get a piece of Libor though. But once Libor is settled the waterfall could be very substantial.
Still puzzled by the proposed sweep account offers, zero % credit cards, inflated income estimates, and expanded credit line amounts.
Seriously. Why are escrowers seeing this? Very strange timing.
Hi Ron and happy new year.
When things unfold, let's fly down to visit Ole AZ so he can help us pick out our new rides. We'll also stop by and visit Alice Cooper and play a few rounds of golf with him. Let the good times roll.
Definition of insanity is repeating escrow nonsense over and over and still expecting to be right.
You just don't get it do you? After thousands of explanations. You should've released. Now go to bed.
I'm tired of you. So welcome to my illustrious ignore list. Maybe some day you'll get a life.
Best of luck with your new cruising vessel!
If things work out as we think you could buy your own dealership and sell all your wamu buddies new vettes. I'll take one in candy apple red!
Whether or not you believe in assets, bank payment, DCR, etc., you have to believe that the ongoing LIBOR case is real. Why? Because it is! Once settlement is completed the funds for WAMU get distributed to who? The estate. And who is the estate? Us!
So, is LIBOR real? Yes. The only unknown is how much and when. Nobody knows. But if JPM and BOA are smart they will settle, and that could be any time now.
AZ, tough are the souls that tread the knife's edge.
We will be just fine. Take care Bro. Have fun cruising in your vette in the warm sunshine!
Why is my income suddenly so overinflated???
I was shocked to see this figure. I wish I really did make that much annually!!! Or. Maybe I will soon.
If we do get paid it will likely be a combo of cash, stocks, and divvies. I have no idea why my annual income suddenly got so yuge. Wish I knew. Yes, maybe I will. Soon.
$$$$$$$ Coattails
Happy new year AZ. Thanks for hanging tough with us.
Any distribution will cause the escrows in your historical account to be reactivated. Happens all the time. Relax and enjoy the ride.
In my opinion we could be very close to something.
Coattails
The escrow markers were deleted. Yes.
How many times are you going to repeat the same drivel. Duh. We know they are gone along with the LT.
This has nothing to do with our historical escrow positions, which remain. Look at your accounts history log! Why dont you people understand this???
Whatthe made it very clear, as did countless others. I wish this board could give an online course in reading comprehension.
How do you know its not reality? You dont. Just as I dont.
It just seems odd to me. My income has gone down considerably in the last yr due to the horrible economy...that the media claims is great btw.
So my income has declined yet my income as noted by institutions is suddenly through the roof.
So dont tell me its not reality. You dont know so dont pretend you do.
I think I am on a new wealth list. Something is happening just as bop said it would when we started to get closer to payment. Everyone would start offering us attractive credit.
Zero percent credit offers. Wealth management and financial offers. Now today I saw they have my annual income listed as 5 times what it should be.
Are these coincidences? Maybe. Just seems very odd all of a sudden. Are we on some new JPM new millionaire list and its leaked out to other institutions?
I almost didnt release but bop convinced me on the last day. Glad she did.
I was going to take my chances and sue if money came. But lawsuits were not going to be possible in the bk. So releasing and hoping was the only option.
Glad I did thanks to bop. I plan to do something for her if we are successful.
If we get huge money Id like to establish some sort of fund to help the 40,000 wamu employees who lost everything. Im sure many of them could use our help.
No release, no escrow position.
The hedgies would contest this strongly. If you didnt release and file the w9 you are SOL. There are no records for non releasers.
No release, no escrow position.
The hedgies would contest this strongly. If you didnt release and file the w9 you are SOL.
Message board posts are opinions and not to be taken as gospel. Ever.
If you dont like my posts I suggest putting me on ignore.
Very nice of Jiminy to post on Christmas.
Hope his information and insights were a nice present for you all.
While nothing is certain, I think good news is forthcoming.
Thanks wwhatthe, appreciate you taking time to give such an outstanding summary.
Its great semantics to call it an escrow position. Those positions are well documented and appropriately stored. I wish people would stop insisting our positions were deleted! Hoping your explanation puts an end to their confusion!
I agree we are just waiting for the FDIC to wrap it up. Libor is the final piece of the puzzle. Once settled, we get that payment, and the waterfall can commence.
We will all do our part to help the economy when the distribution happens.
Best holiday wishes to you and your family.
We only have to be right once.
Bob lets hope bops prediction of 8x for us from Libor comes to fruition. But seriously Id be happy with hold2wms prediction of 1x.
If this money raise from jpm and boa is for Libor we could see a significant amount of rewards after 16 yrs of torture.
Keykey you havent made the list, yet.
Do you Want to be on it? Easy to do.
I have not personally contacted Bonderman or Temper. But.....dont you think that if you were swindled out of several BILLION dollars, you would want restitution? These guys are smart, and successful for that reason. Do you think they threw their hands up and said, Ahhh hell with it. Whats a few billion dollars!
Now, if it was millions, maybe. But not billions. No way did they walk away from that knowing full well this was an unfair taking 5th amendment issue. The fact that they havent sued to at least Try to get recovery means to me that they knew eventually they would.
Coattails
How many times are we going to go over this?
The LT markers were removed. The historical escrows that we were issued....IF you released....are still in your account history and can be reactivated when value comes back.
Why dont people seem to understand this???
Btw....welcome to my ignore list.
They will try to screw escrows but the big boys own 70% and they want their money. Time to pay up.
Coattails
I believe Libor is the one thing we can be fairly certain of. If we do see money from that settlement that will be a great initial avenue for account confirmations.
Then if the big money flows Computershare will have all of the accurate info for further distributions.
Lets hope Libor provides at least 1 par.
Royal I appreciate your optimistic attitude.
I just worry about all the corruption we are up against.
Don't see a connection but who knows?
For now, all we know is that Libor is real and is almost completed. The FDIC cannot hide those facts. We just don't know when that settlement will be announced or how much it may mean to our escrows. It's out of our hands. All we can do is hope for justice after going on 16 years!
I hope the board posters are right.
Why does this pertain to us?
Buy hard assets because the day may come when the gov empties our accounts. Buy gold and silver. Now they are saying dollars/cash may also be good to hold. Hope so.
So Bob, if $700B comes back as "the source" predicts, that's 70 Par.
I will be glad to take whatever excess you don't need. :)
Bob, this admin needs an infusion of cash to bolster a fading economy, and this Wamu money could be part of their plan to inject liquidity into the markets. We would be the lucky beneficiaries. But, if you get "too much" money, you can donate to many worthy causes. I live simply and will help those in need if I get a windfall. Especially animal rescues and humane societies who are all in desperate need of funding these days.
I will offer a free spay and neuter service where needed, as well as free food for anyone adopting an animal. This is especially needed on the native reservations where packs of dogs roam free and breed constantly. It's a major problem in this country that needs to be addressed.
So don't worry about too much money.
Goodie, my understanding is that the bonds are a separate issue from the escrows. The bonds need to be paid by JPM.
Just as with Libor. Escrows are not entitled to anything coming back to bonds. I and others received paperwork from the Bondholders settlement that stated that clearly.
Bop is the eternal optimist, but she backs it up with her credentials, which are way beyond anyone else on these message boards. She is a bk attorney who has actually worked for JPM so you have to give her respect for that. I tend to feel hold2wm is a bit more realistic in his 1 par guess, although he too thinks it could be much more.
I am guessing that JPM will settle Libor for 10B or so in hopes that will assuage the escrow holders so they go away, and let JPM keep the really big money. Might be a smart tactic on their part. But I don't think the big boys would let them get away with that. We shall see.
Coattails
Thanks Bob, you too. I think we have some good things for escrows in the offing. While nothing is certain, I think Libor alone will make people happy. 1 par is pretty good, so even if we just got that much most would be happy. Of course we feel there is much more coming, but in this world we have to be realistic.
Bop thinks possibly 8 par from Libor. While that would be great I just don't see it happening, but who knows???
Merry Christmas!!!
Best Christmas gift, the ignore button!
I have cleaned up this board by ignoring all those that are a pain. I suggest others do the same. The board is great for me to visit now!
Merry Christmas to all good people!
No, my credit score has always been high.