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Wednesday, November 24, 2010

Appeal Denied!

Supposedly the method they used to verify my address was looking on my credit report (which by the way shows my correct address and the house in question.) 

They say that my credit report shows another address (not true!)  I am looking at the credit report right now.. with the correct address.

Are they trying to see how many people they can get institutionalized?

Tuesday, November 16, 2010

The public at large still blames the homeowner.

I was in a real estate finance class tonight with a group of other Realtors.  The topic of the foreclosure mess came up and the agreement was to blame the home owner 100 to 1.  ( I was the 1.)

The entire class was in an uproar when I said the banks are to blame.

Its shocking how little the general public is aware of.

NOVEMBER 16TH 2010 HEARING!

"Against this backdrop of stark uncertainty, the Senate Banking Committee is holding a hearing Tuesday that will include testimony from Bank of America and JPMorgan Chase, two of the banks at the center of the turmoil. "

By DAVID STREITFELD


Some of this stuff is really funny.

"In prepared testimony, Bank of America said it was streamlining the process for borrowers fighting foreclosure." 

They didn't mention that they are streamlining them towards foreclosure

By Ariana Eunjung Cha
The witness list for the first congressional hearing focused on the foreclosure crisis, to be held Nov. 16 at 2:30 p.m. before the Senate Banking Committee, is out.
The list includes two company officials -- Barbara Desoer, president of Bank of America Home Loans, and David Lowman, chief executive of Chase Home Lending.
Also testifying are Tom Miller, the attorney general of Iowa, who is leading the 50-state investigation into the issue; Adam J. Levitin, the Georgetown University law professor who briefed Citigroup analysts who wrote a research note last month about the problems with paperwork in securitized mortgages that shook up Wall Street; and Diane E. Thompson, an attorney with the National Consumer Law Center who wrote a much-circulated report on why mortgage servicers foreclose when they should modify loans.
The House financial services committee will hold a separate hearing on "Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing" on Nov. 18.

Thursday, November 11, 2010

HERE IT IS.... AND I THOUGHT I WAS CRAZY!

"Bank of America has admitted that HAMP's "implicit" purpose is to help the banks that made the fraudulent loans -- not the borrowers."
"HAMP's parallel goal is funneling more money to the banks that induced the fraudulent loans. Data indicates that neither the HAMP modifications nor those undertaken independently by the banks actually benefit homeowners"

What this means is that homeowners are left with a terrible investment, paying a mortgage that is far larger than the value of the home. Because most modifications will lead to eventual default, all they do is to allow the bank to squeeze more life savings out of the homeowner before taking the home. Bank of America wants to be congratulated for such activity.



http://www.huffingtonpost.com/william-k-black/post_1214_b_779193.html

Thursday, November 4, 2010

CITY OF SAN JOSE

MOVES ONE MILLION DOLLARS OUT OF BANK OF AMERICA IN PROTEST OF THE FORECLOSURE SCANDAL.

this is a great Discussion on blogtalkradio

blogtalkradio

David Dayen Virtually Speaking with Jay Ackroyd

http://virtuallyspeaking.ning.com/opensocial/ningapps/show?appUrl=http%3A%2F%2Fwww.blogtalkradio.com%2Fning%2FBTRNingProd.xml%3Fning-app-status%3Dnetwork&owner=2fjqf23hkcvxb
He says they need to reset the housing market by not foreclosing.


HAMP WAS BASICALLY CREATED BY THE BANKS SO THAT THE GOVERMENT WOULDN'T FORCE THEM TO WRITE DOWN THE MORTGAGE LOANS~

IT WAS WATERED DOWN.

ONE YEAR AND 8 MONTHS LATER, ONLY UNDER 500,000.  ANOTHER 700,000 WERE DENIED AND GIVEN A DEMAND PAYMENT (THAT'S ME:( )

FOR THE 700,000 PEOPLE IT MADE THEIR SITUATION WORSE!  THE FIRST TRIAL MOD READ AS A DEFAULT. 

BANKS WERE SUPPOSED TO TAKE 3 MONTHS, BUT THEY STRUNG PEOPLE ALONG A YEAR OR MORE AND THEN DENY WITHOUT EXPLANATION...

ASKING FOR DOC ABOVE AND BEYOND, VIOLATION OF HAMP RULES.

NOT ONE SERVICER HAS BEEN SANCTIONED FOR THIS! 

THEY GAVE PEOPLE FALSE HOPE!

THE INCENTIVES ARE TO FORECLOSURE.

BANKS DO NOTHING MORE THAN MODIFY A TOKEN AMOUNT OF LOANS AND CANCEL EVERYONE ELSE OUT.

PROMISES WERE MADE.  ITS HURTING LIBERALISM.  ITS NOT A LIBERAL PROGRAM BUT IT IS PERCEIVED AS ONE.

THEY ARE ALLOWING THE BANKS TO EXTRACT A FEW MORE PAYMENTS OUT OF PEOPLE,
THEN FORECLOSE TO CREATE SHADOW INVENTORY!

ITS A NICE MONEY MAKING SCHEME!

Its caught up in this foreclosure fraud.

SOLUTIONS:

THINGS BEING DONE.
AFTER THE NOTORIETY
1. BANKS VOLUNTARILY INSTITUTED MORATORIUMS

2. JUDGES ARE STARTING TO TAKE NOTICE

3. STATE ATTORNEYS GENERAL INVESTIGATION

4. INVESTORS WANT BANKS TO REPURCHASE LOANS


AT WHAT POINT DOES THE THREAT OF CRIMINAL SANCTIONS CAUSE THEM TO MODIFY LOANS.

FIX THE HAMP PROGRAM

LOOKING FOR A MANDATORY MODIFICATIONS

Monday, November 1, 2010

PROTEST ORGANIZING PLEASE SIGN UP IN YOUR STATE UNDER COMMENTS SECTION

We need leaders... all over the country.  We are planning a Protest on all our State Capitals on the same day.

I am in PA I can take Harrisburg.

UNDER THE COMMENT SECTION PICK YOUR STATE AND SIGN UP. 

WHEN WE GET ENOUGH PEOPLE WE WILL PICK THE DATE