Posts Tagged ‘Banking’

Paulson’s Hyperinflationary Folly! Endless Bailouts. The Current Economic System is Doomed.

Monday, August 30th, 2010

FIRST: We must recognize the reality of a national emergency in the form of an accelerating, hyper-inflationary, general breakdown-crisis of the U.S. banking and monetary system. This trend must be halted by emergency action in bankruptcy reorganization: All present plans for financial bail-out of Fannie Mae and Freddie Mac must be cancelled under threat of impeachment or similar action against any U.S. officials caught in complicity with such an attempted, inherently fraudulent bail-out scheme for absolutely wrecking the U.S.A. financially in favor of London and Wall Street predators.

Federal reorganization of the financial system in bankruptcy must occur immediately. We, as government, must be committed to pay what must be paid to maintain the general welfare of the population and of functions of Federal, state, and local government, and to freeze what can not be paid currently without damaging the payments which are of fundamental strategic and human interest.

Many people have engaged in what are in fact, tolerated swindles, as typified by the disgusting matter of “golden parachutes,” while essential human interests of people who have earned their actual right to income are looted to pay for “golden parachutes” and comparable swindles. Those who managed the economy are those who are chiefly responsible for the failure which their reign induced; they should not claim too loudly what they did not actually earn by human standards for the proper meaning of “earning.” The word of the day is “big-time financial swindlers”

SECOND: We must restore real (i.e., physical) growth in essential goods and services as measured per capita and per square kilometer.

THIRD: We must use emphasis on science-driven, high-energy-flux density progress in basic economic infrastructure, such as power, mass transportation, water management, and land and forest reclamation, as stimulants to recreating the physical-economic productive capabilities of our labor-force, which our republic has largely lost under the implicitly pro-Malthusian dogmas imposed since 1977.

FOURTH: We must establish a new virtual “Bretton Woods” system by an immediate agreement presented by the government of the U.S.A. to leading nations Russia, China, and India, establishing a new fixed-exchange-rate system designed for the participation and benefit of currently sovereign nations and those which are still to be freed from poorly concealed expressions of British imperialist subjugation by established Anglo-Dutch Liberal-created international institutions.

This action by those four powers must be intended to open the doors of nations generally to participate as fully sovereigns in the new system.

Since, as the case of China illustrates the point, the greatest amount of outstanding international debt and related accumulations, is currently denominated, still, in U.S. dollars, the possibility of avoiding a general breakdown-crisis of the planet as a whole, depends upon fixing the dollar at a recently fixed current valuation, perhaps a value sometime prior to August 1, 2007. Without such a measure, the situation of the world at large would tend to be hopeless, and a new, planet-wide new dark age would be virtually inevitable.

Such an agreement among that “big four” would automatically open the gates for the immediate full participation of other sovereign nations as true sovereigns. Without this initiating role by the U.S.A., there is no approach by any combination of other nations which could bring the presently soaring world crisis under voluntary control.

The intention of such a precisely defined form of New Bretton Woods system is the only existing option for avoiding the plunge of the planet as a whole into a prolonged, very deep new dark age.

Duration : 0:3:49

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Foreclosure Short Sale – Sell your home and Save your Credit Score – RealEstateMarketingThisweek.com

Saturday, August 21st, 2010

http://realestatemarketingthisweek.com/short-sales/avoid-a-foreclosure-on-your-credit-report-short-sale-your-home-and-save-your-credit/ – Avoid a foreclosure on your credit report, short sale your home and save your credit

Part 8 – Ok, so that is good to know, I know there are people who want to try and do that and I really dont know. I am really a full time mortgage professional, I didnt get into the loan modification business on purpose, we write mortgage loans, real estate loans for residential and commercial, so therefore I dont know your laws on the same token you dont do loan modifications and you dont write loans, youre professional realtor.

Exactly, and one more thing, bottom line is you cant be defrauding the bank. Because then youre stepping into mortgage fraud, as you know. You do have to have a hardship, you honestly do have to show, if youre going to be benefiting from staying in the home, you have to show a hardship that you cant afford the current payment. If youre making a couple hundred thousand a year and have a ½ million in the bank and owe $200,000 the bank isnt on your side in that case.

There are a lot of situations though when a homeowner wants to stay in their home, if that is the case, then we market it to investors, because there is a lot of the people who are buying these homes so we work with the investor and we work out the lease amount and the homeowners can stay in their homes in those situations. Whatever it looks like at the end of the day, the homeowner needs to picture where they are going to be in the short term midterm and long term and where this house fits into those plans, if a loan mod isnt right a short sale is a significantly better option than a foreclosure.

They need to call now, they need to take action because you do need to find a place to live and were here to help you, you dont want to get two weeks to the point of foreclosure and have no where to move your family. And the Dreamvestors Team that is your main focus right now, but people still call you for first time home buyers.

We work with buyers as well as people who are short selling. We have been in real estate several years and we didnt want just short sales, were fortunate to have a very strong clientele base and were always taking new clients. We have just adjusted our focus as the market called for it and as our clients called for it.

The other thing too when we talk about these short sales, getting out of that home before it goes to foreclosure is always the best case scenario, the bank is happier with it, the house is more saleable in most cases, people are still living there, its still there home, they still feel like the pride of ownership.

Yes, and in addition, pride of neighborhood is another point. Your neighbors are going to like you better because there is not a foreclosure in their neighborhood, it helps keep the prices up when the bank takes them back the banks price them even lower typically, well sure and then its vacant and we have the potential problem of neighborhood kids turning the house into a paintball arena.

I saw that in a fantastic two story home with an amazing backyard, this house was to die for, a million dollar home and the neighborhood kids turned this house into a paintball arena. Now I am not going to lie, that might have been fun when I was a kid, but this house was trashed, wires hanging out, I mean it was just an absolute mess. The lenders dont want that, you dont want that. They need to take action they need to call you.

Yes educate yourself and call someone today. Folks its important to point out today that I would like to see you call Kalyn and Jeri for this because I know, I have seen their track record. I know their close ratio and I know that they generally care about you and your needs first, but if you have someone who does this and youre contemplating it, if you have a sale date coming up, you need to take action. Move on with your life, put this part of your life behind you.

One of the things to and we dont want to get to deep into this, Jeri or Kalyn, but after the short sale is done its all said and done, you have an affiliation with people who can help them out in getting their credit repaired and ready to go. We do, we really pride ourselves on being a one stop shop, so we help educate them, if its going to be a loan modification or a short sale once they get through the process then we begin working with them on credit repair. We have a program that we work ourselves, and if its a really sticky issue with your credit we have people that we work very closely with that we will refer you to, we also have a team that includes a bankruptcy attorney, a real estate attorney and a real estate CPA… http://realestatemarketingthisweek.com

Duration : 0:7:2

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Short Sale – Expert to Negotiate Loan Modification and Short Sale

Monday, August 2nd, 2010

http://realestatemarketingthisweek.com/short-sales/short-sale-and-loan-modification-make-sure-you-work-with-and-expert/ – Short Sale and Loan Modification; Make sure you Work with an Expert –

Part 2 – Were just going to go ahead if we could and just jump right into the short sale information. Jeri, again thank you so much for taking the time to be with us. What is the name of your firm?

Our group is Dream Vesting Group and our brokerage is Keller Williams Arizona Realty.

So that is great, licensed agents with Keller Williams and I know the two of you and I know of your history and we will talk a little bit more about that, but you have been working together for awhile. You and I had a chance to speak about the short sales and your success rate, very, very impressive proven results always helps. So the natural first question for those that are listening today. What is a short sale exactly?

A short sale is a property sale where the bank or lender agrees to accept less than what is owed to them. So the bank is agreeing to take a loss on the sale of your property, and I like what you said earlier about not trusting a loan modification or a short sale to just anybody, you definitely dont want to be the guinea pig and you dont want to approach the bank yourself and ask them to please take a loss because you need to sell your home.

And that is one of the things that is funny nowadays. I know people have seen them pop up all over the town, the ugly yellow bill boards all over the place. Advertising on the radio about loan modifications and they have 100% success rate, all kinds of these different things. The same thing with short sales, you actually have a process and you have a lot of experience doing it, you know the ins and the outs and this isnt a part time job this is a fulltime job.

Absolutely is a fulltime more than fulltime job, the last three Sundays I have been on the phones with lenders when they are open, one of them has a call center in India. I have been on the phone from 10 oclock at night until Midnight and again at 6am with the same lender trying to stop foreclosure.

Well that is good that you have the time, Take the time to do that. I am sorry that you have to work that many hours but you know Kalyn, is it not true that the sooner we get through all of these short sales and loan modifications the better off were all going to be anyway right?

Absolutely, a lot of people ask, what does it take? Who should be considering a short sale? If youre late on your mortgage currently, if your mortgage has adjusted, if you can no longer afford your monthly payment, if you foresee yourself not being able to afford your monthly payments, any of these instances plus several more, you should definitely be sitting down with someone and talking about your options which would be most likely a short sale or loan modification.

Yes the last thing anyone wants, and I mean anyone, is a foreclosure, that is the last resort. Nobody wants a foreclosure; you dont want it on your record, you dont want to have to deal with that. Its a very public event, a foreclosure is, the banks dont want you to foreclose and that is probably why they are so willing to work with you would you say? Absolutely the banks dont want the home back no matter what they tell you.

Exactly and on the loan modification side people try on their own to do this and its true that people can actually do a loan modification on their own but there are so many pitfalls and its just not something you want to try on your own. Surely you dont want to try a short sale on your own. So Jeri let me ask you this, what are some of the main objections?

The main objection that we hear from most of our clients is the cost to them, they already cant afford the payment on their mortgage or they wouldnt be in that particular situation 9 times out of 10 and so they are concerned about cost. Most people have already resigned themselves to the fact that they are losing their home and they dont want to spend any more money on it.

The good news is in a short sale you dont have to spend anymore money, all of the costs are absorbed by the bank. They agree to lose more money basically, so there is no realtor fees and the majority of the time we can negotiate an as is contract so if there are repairs that need to be made they dont come to you and ask you to do it, its just factored into the cost. So its very effective for homeowners.

And again it keeps them from going into foreclosure. They get to stay in the house and they get to save whatever is left of their dignity, some people take it very pride fully as well. So Kalyn, the second most common objection is?… http://realestatemarketingthisweek.com

Duration : 0:6:34

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Subprime US Banking Financial Crisis Explained Part 3

Sunday, June 6th, 2010

http://www.informedtrades.com/
The 3rd and final lesson in a series on the subprime mortgage US Banking financial crisis explained.

Duration : 0:7:17

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Mortgage Foreclosure Rescue Scams – Documentary Video

Wednesday, May 26th, 2010

Mortgage Foreclosure Rescue Scams – Documentary Video

We Stop Foreclosure Rescue Scams (2008) by Kyra Olds

This is a documentary about mortgage foreclosure rescue scams that are occurring across the country in light of the growing foreclosures. The movie describes common scam tactics and how distressed homeowners fall for these scams. The movie concludes with what lawyers can do to challenge these scams in court and the Washington State Legislature’s response to try to to stop these scams by passing House Bill 2791 and Senate Bill 6381. It is intended to educate advocates so they can better assist homeowners facing foreclosure.

Director: Kyra Olds
Producer: Northwest Justice Project
Sponsor: Eric Dunn
Keywords: foreclosure rescue scam; washington; mortgage; foreclosure; 2791; northwest justice project; njp
Contact Information: Northwest Justice Project 401 2nd Ave S Seattle, WA 98104 www.nwjustice.org

Creative Commons license: Attribution-Noncommercial-Share Alike 3.0 United States

Credits:
We Stop Foreclosure Rescue Scams
by Northwest Justice Project;

Featuring:
Eva, Client of NJP; Eric Dunn, Attorney at NJP; Melissa Huelsman, Private; Attorney in Seattle; Judy Poston, Housing Counselor at Solid Ground; Julia Kellison, Attorney at NJPl; Fred Corbit, Attorney at NJP

Produced by: Kyra Olds, Intern at NJP

Foreclosures are increasing nationwide, and so are scams that promise to rescue homeowners from foreclosure. What these scams do is take your money, ruin your credit record, and wipe out any equity you have in your home. Foreclosure con artists take advantage of people who have fallen behind on their mortgages and face foreclosure. Con artists know that people in these situations are vulnerable and likely to be desperate. Potential victims are easy to find: mortgage lenders publish notices before foreclosing on homes. After reading such notices, con artists approach their targets in person, by mail, over the telephone, or by e-mail. They advertise their services on Web sites or publications. They often refer to themselves with titles that sound official, such as foreclosure consultant or mortgage consultant, and market themselves as a foreclosure service or foreclosure rescue agency. Your mortgage lender or any legitimate financial counselor can help you find real options to avoid foreclosure. If someone offers to negotiate with your lender and offers to arrange to stop or delay foreclosure for a fee, carefully check his or her credentials, reputation, and experience. To protect yourself, follow the recommendations contained in this Consumer Advisory.

Duration : 1:34:41

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Mortgage Bankers Celebrate Victory

Friday, January 15th, 2010

You would think this year’s Mortgage Bankers Association annual meeting would be a rather solemn affair — given the criticism the industry has endured in recent months. But our ANP reporter attending the meeting found the bankers in a celebratory mood. The reason? A massive lobbying campaign against bankruptcy reform legislation known as “cram-down” appeared to be working.

Duration : 0:4:40

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Curro Sees Mortgage Rates Rising When Fed Ends Purchases: Video

Wednesday, December 30th, 2009

Dec. 23 (Bloomberg) — Jeana Curro, director of mortgage strategy at UBS Securities, talks with Bloomberg’s Lori Rothman about the outlook for U.S. mortgage rates after the Federal Reserve ends its purchases of agency mortgage-backed securities on Feb. 1.
Curro also discusses the outlook for the mortgage-bond market. Bloomberg’s Brian Luke also speaks. (Source: Bloomberg)

Duration : 0:2:48

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Woodwell Says Weak Economy Hurting Commercial Mortgages: Video

Wednesday, December 9th, 2009

Dec. 7 (Bloomberg) — Jamie Woodwell, vice president of commercial real estate research for the Mortgage Bankers Association, talks with Bloomberg’s Carol Massar and Matt Miller about the commercial real estate market.
Delinquencies on commercial mortgage-backed securities rose to a record in the third quarter as unemployment rose and landlords struggled to retain tenants. (Source: Bloomberg)

Duration : 0:3:53

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