http://www.ntv.co.ke
The World Bank has granted the Kenya government 1.5 billion dollars an equivalent of 124 billion Kenya shillings, set to fund various projects in infrastructure, energy and water resources. The funding will be spread across a period running from 2012 to 2014. It is expected to finance key projects aligned to the country development blue print vision 2030. NTV’s Aby Agina reports.
Duration : 0:2:5
Jan. 20 (Bloomberg) — Steven Blitz, an economist at ITG Investment Research, Daniel Alpert, managing director at Westwood Capital LLC, and Stephen Wood, chief market strategist at Russell Investments, talk about the U.S. housing market, increased lending standards at banks and the European sovereign debt crisis.
They speak with Pimm Fox on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)
Duration : 0:15:50
Newt Gingrich, April 24, 2007, at a meeting for Freddie Mac employees:
“Certainly there is a lot of debate today about the housing GSEs [government-sponsored enterprises], but I think it is telling that there is strong bipartisan support for maintaining the GSE model in housing. There is not much support for the idea of removing the GSE charters from Freddie Mac and Fannie Mae. And I think it’s clear why. The housing GSEs have made an important contribution to homeownership and the housing finance system. We have a much more liquid and stable housing finance system than we would have without the GSEs. And making homeownership more accessible and affordable is a policy goal I believe conservatives should embrace. Millions of people have entered the middle class through building wealth in their homes, and there is a lot of evidence that homeownership contributes to stable families and communities. These are results I think conservatives should embrace and want to extend as widely as possible.”
Ron Paul, July 16, 2002, before the House of Representatives:
“Mr. Speaker, I rise to introduce the Free Housing Market Enhancement Act. This legislation restores a free market in housing by repealing special privileges for housing-related government sponsored enterprises (GSEs). These entities are the Federal National Mortgage Association (Fannie), the Federal Home Loan Mortgage Corporation (Freddie), and the National Home Loan Bank Board (HLBB)…
“One of the major government privileges granted these GSEs is a line of credit to the United States Treasury. According to some estimates, the line of credit may be worth over $2 billion. This explicit promise by the Treasury to bail out these GSEs in times of economic difficulty helps them attract investors who are willing to settle for lower yields than they would demand in the absence of the subsidy. Thus, the line of credit distorts the allocation of capital…
“Ironically, by transferring the risk of a widespread mortgage default, the government increases the likelihood of a painful crash in the housing market. This is because the special privileges of Fannie, Freddie, and HLBB have distorted the housing market by allowing them to attract capital they could not attract under pure market conditions. As a result, capital is diverted from its most productive use into housing…
“However, despite the long-term damage to the economy inflicted by the government’s interference in the housing market, the government’s policies of diverting capital to other uses creates a short-term boom in housing. Like all artificially-created bubbles, the boom in housing prices cannot last forever. When housing prices fall, homeowners will experience difficulty as their equity is wiped out. Furthermore, the holders of the mortgage debt will also have a loss. These losses will be greater than they would have otherwise been had government policy not actively encouraged over-investment in housing.”
(Note the dates of these quotes — Gingrich was speaking shortly before the mortgage meltdown, while Ron Paul’s remarks were made in 2002, when very few people even knew there was a housing bubble.)
Duration : 0:2:9
The compensation practices at two government-controlled Mortgage giants came under heavy fire on Capitol Hill on Wednesday. Margret Warner discusses what accounts for executive bonuses at Fannie Mae and Freddie Mac with Politico\’s Josh Boak and The Wall Street Journal\’s Nick Timiraos.
Duration : 0:11:54
Imagine buying a home and having half the Mortgage disappear three years later.
Duration : 0:1:28
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.
Duration : 0:4:51
It’s happened in the U.S. and its happening here in Australia. This brilliant article by Scott Pelley from CBS News 60 Minutes was shown 3rd April 2011. In their rush to maximize profits, banks largely onward sold your Mortgage on Wall Street into Securitization schemes, to cut cost — over 50% in the U.S. have loss or misplaced their original documents. Without them the bank CAN NOT claim ownership to the property or to the Loan — or rather ‘drawdown facility’. When banks on-sell your mortgage they get two incomes, the lump payment from investors on Wall Street and your mortgage payments. EVERY Australian Bank has packaged Home Loans into Securitization schemes. Some have even borrowed directly from the U.S. Federal Reserve rather that the Reserve Bank of Australia in 2008!
Duration : 0:14:7
CBS 60 Minutes Interview: Who Owns Your Mortgage? MERS Stops Foreclosure…
http://www.BigBanksBusted.com
Duration : 0:8:21
Sept. 2 (Bloomberg) — Paul Miller, managing director at FBR Capital Markets Corp., talks about a potential lawsuit by the U.S. Federal Housing Finance Agency against Bank of America Corp. and other lenders over faulty Mortgage Loans.
Miller speaks with Adam Johnson on Bloomberg Television’s “Fast Forward.” (Source: Bloomberg)
Duration : 0:4:25
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/
Duration : 0:5:47