Banks are getting more aggressive with people who don’t keep up with their Mortgage payments, but as Jim Axelrod reports, help is just a phone call away.
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First Time In 60 Years Mortgage Interest Rates Are Below 4%
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More NEWS at http://www.newzzcafe.com/
In a move that could either send BAC stock limit down overnight or send it soaring (we are still trying to figure out just what is going on here), the NYT has broken major news that the US is preparing to go nuclear on more than a dozen big banks among which Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, in an attempt for Fannie and Freddie to recoup $30 billion if not much more.
The lawsuit is expected to hit the docket in the next few days: “The suits stem from subpoenas the finance agency issued to banks a year ago. If the case is not filed Friday, they said, it will come Tuesday, shortly before a deadline expires for the housing agency to file claims.”
FHFA goes hog wild and potentially full retard in suing everyone, or specifically 17 global banks, up to an including such dead men walking as Barclays, RBS and SocGen. Oddly such crony capitalist favorites as Wells Fargo are suspiciously absent: we wonder what the cost of that particular Eureka moment was to the interested party.
“While I believe that F.H.F.A. is acting responsibly in its role as conservator, I am afraid that we risk pushing these guys off of a cliff and we’re going to have to bail out the banks again.”
Either way, come Monday, this will get interesting when already scarce liquidity goes… poof.
http://www.zerohedge.com/news/massive-wave-lawsuits-be-filed-us-against-americas-biggest-banks-soon-tomorrow
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Mortgage rates hit another record low this week, marking a unique opportunity for people to buy or refinance a house. KMBC 9’s Martin Augustine reports.
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http://stopforeclosurefraud.com/
A “Note” is a promise to pay _____. A “Note Rider” is not a “NOTE”. It is added or is “made part of” a note. I am gettting emails that these “Riders” are being submitted as “Notes”. My opinion is that they are trying to trick you and the judge as long as the word “Note” is there. Check to see if your Lender named is the Foreclosing Lender NOW. Check if there were any Assignments of proof that they did so. In most cases NONE were ever done as required. This is where it all starts…Make sure if your Note is signed that it is your Signature and not FORGED. If it is presented in court…Do not touch the paper as your “Original” will contain your Finger Prints as DNA. This is if your really willing to challenge and do a FULL FORENSIC evaluation.
Here I will show you how MY personal Mortgage Foreclosure FRAUD happened. Pay close attention and learn before it is too late. Here are the subjects and principles. Hi Erica Johnson-SECK (SICK) I read in your Deposition how you google your name …Just add this one for reference.
Law Offices Of David J. Stern PA in Plantation Florida Roger Stotts
Dennis Kirkpatrick
These people are ALL over the US pulling this crap
Do searches on them and all and see what you can find out to save your home.
Learn from this study it and maybe WE ON OUR OWN without the GOVERNMENT can make a difference. Thank you for allowing us to loose our wealth, rights, and justice for all.
Uncover Violations: Get an Audit
http://fmi-audit.com
These are some excellent resources. YOU ARE NOT ALONE. IT IS NOT YOUR FAULT OUR GOVERNMENT FAILED US.
We have just scratched the surface. Wait to see what is at the CORE.
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It’s strange how you have the Goverment allowing lenders to “modify” borrowers Loans into payments that they can afford in an effort to boost the industry all the while to prevent foreclosures/short sales from occuring. Yet, less than 10% of all Loan Modifications actually get approved. WHY IS THAT? You won’t believe the sweetheart deal that the Indymac boys were given by the FDIC. It may make you very angry to realize the truth. Share this video with everyone that you know. Let everyone know where the REAL problems lie.
Duration : 0:4:55
Jay Hind! Episode 207 : Segment 4 – People vent their anger on Banks increasing Home Loan Interest rates every second month. For more berserk humor follow us on twitter http://twitter.com/jayhind & get 24 hrs Live reaction to News around the world. Non – Stop Humor
Duration : 0:4:26
My commentary on JP Morgan Chase and Bank of America cutting Option Arm Loans by as much as 50%, ruptured Pipeline Spills Oil Into Yellowstone River, a study showing that Copper kills 97 percent of hospital ICU bacteria and a major breakthrough in the fight for breast cancer.
Jobs Picture Remains Ugly as Weekly Claims Still High
http://www.cnbc.com/id/43590162
44.6 million people on Food Stamps in April
http://www.fns.usda.gov/pd/34SNAPmonthly.htm
Australia Job Advertisements Rise 3.7% On Month In June
http://www.rttnews.com/Content/AllEconomicNews.aspx?Node=B2&Id=1658563
Australia Retail Sales Ease 0.6% On Month In May
http://www.rttnews.com/Content/AllEconomicNews.aspx?Node=B2&Id=1658559
Banks Shocking Borrowers with Mortgage Reductions
http://www.zerohedge.com/article/banks-commence-wholesale-unsolicited-mortgage-forgiveness
Ruptured Pipeline Spills Oil Into Yellowstone River
http://www.nytimes.com/2011/07/03/us/03oilspill.html?_r=3
Oil-fouled farmland worries Blue Creek couple
http://billingsgazette.com/news/local/article_5c463205-ae8b-5a98-bb18-8339fa4849ed.html
Copper kills 97 percent of hospital ICU bacteria: study
http://www.msnbc.msn.com/id/43607614/ns/health/
Man’s heart attack interrupts heart disease class
http://www.msnbc.msn.com/id/43576270/ns/health-heart_health/
Medical breakthrough for breast cancer patients
http://www.woio.com/Global/story.asp?S=14950775
Duration : 0:5:25
We are currently looking for 250 people to test the New Mac Book Air. http://bit.ly/qIWcy3
http://realestatemarketingthisweek.com- Real Estate Marketing – Foreclosure rates on Forbearance Agreements done with banks reaches 58% – With Michael J Barnes and Dan Havey of Real Estate Marketing This Week
Part 3 – In studio with us today on this fine New years eve is Dan Havey, the co founder of the modification hotline as well as the author of The Foreclosure Sharks a great white paper he put together. He is also the author of Real Estates Future and this segment we are talking about loan modifications and some specific information.
You also have a great story to tell about this to. Well unfortunately I have too many stories about people who have had to go through foreclosures, bankruptcies, loan modifications. The one story I want to talk about real quick is a friend of mine who unbeknownst to me went out and did a Loan modification on her own and not to get into a whole bunch of technical details on it she ended up getting a pretty decent interest rate because they actually cut her Mortgage payment in half and she was pretty happy about that.
She owed a little bit more than the house was worth, she wasnt terribly upside down, but by the time they got done with her she certainly was going to be because the modification, and actually I should not call it a modification, I should call it a forbearance agreement, what they did to her was to say, OK we will cut your interest rate in half, we will cut your monthly payment in half, but we will take all of that deferred interest and tack it onto the back end of the loan. So that by the time her interest rate went back to where it had been, it was going to adjust up over the next five years, so that within that five year time period she was actually going to owe $60,000 in back interest on top of the principal balance that she had before she went to go talk to her bank.
What kind of a deal is that? I didnt think it was a very good one and she ended up eventually not taking it and just recently let the house go back to the bank, because she just looked at it and said, Wait a second here, I am already $20,000 upside down, by the time Im done with you guys I will be $80,000 upside down and so great I get a cheaper payment for a while. She moved into a rental property that was even cheaper then what she would have had to pay to stay in the house and from what she tells me the house is nicer.
Some of the unfortunate scenarios that come up that we get to see. Unfortunately we talk to lots of people that have similar situations, trying to do these on their own and it is possible to do a loan modification on your own. We know that, the program is designed for you to do that. The problem is it generally does not work out.
The re-default rate on loan modifications done on your own is significantly higher than loan modifications facilitated by an attorney that is representing you, for a number of reasons. Number one you have to pay an attorney to represent you. The other is that I think you are going to get a better modification based its not just a negotiation between you and the loss mitigation department for the bank. We are talking about using a professional attorney who is a trained negotiator to negotiate on your behalf with another attorney. By the way, theyre not talking to the same loss mitigation people in India that you may be talking too.
Here are some numbers that just came out from John Dugan who is the Office of the Comptroller of the Currency and they did a study of the loan modifications that have been done to date. In many cases these were forbearance agreements, not loan modifications. If an individual talks to his bank, generally speaking he will not get the same as result as what an attorney would do, so most of these are really forbearance agreements. And in that case, 36% had defaulted or were 30 days past due after 6 months and 58% were in default after 8 months. Again that is 58% in default after eight months and I saw some numbers the other day and unfortunately I didnt bring them in with me today, that according to some study of the very few modifications that have been done using an attorney, I say very few, but it is still thousands or tens of thousands, but few compared to what is getting done directly with the bank, the number is only like 5% of the ones done with an attorney have re-defaulted and again I dont have the numbers with me so I cant site the source… http://realestatemarketingthisweek.com/foreclosure-rates-on-forbearance-agreements-reaches-58/
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My Rule of Thumb Always Know Exactly What Your Credit Report Contains. I guarantee that with “Credit Secrets Revealed” you’ll totally understand the inner workings of our credit system and be able to immediately use your newfound knowledge to your advantage. Heck, even most millionaires don’t know this stuff. Regardless of the credit hole you’ve dug for yourself, I can show you how to dramatically improve your credit score and clear your credit report in less than 90 days. You’ll learn how to delete negative items from your credit report and what to do to immediately get a credit card. Let’s face it: No one is immune to credit difficulties; circumstances change. Even people who have tucked money safely away can get into financial trouble. And, that’s exactly why Credit Secrets Revealed” was created to help you turn your financial woes into credit building opportunities. If you have a less than desirable credit score or if you don’t have a clue what your credit score actually is – then Credit Secrets Revealed is for you. to learn more about this life changing offer, please visit our website at PrivateFastLoans.com
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