Report | Mortgage Debt Relief For Distressed Homeowners Won’t Hurt Big Banks, IMF Says

Mortgage Debt Relief For Distressed Homeowners Won’t Hurt Big Banks, IMF Says

NEW YORK — A broad mortgage debt-relief program for distressed homeowners would not significantly impact the nation’s four biggest banks, according to a report released this week by the International Monetary Fund.

Bank of America, JPMorgan Chase, Citigroup and Wells Fargo have enough money to withstand the resulting losses, IMF economists projected in their report.

The findings cast doubt on the notion that a broad-based program to reduce troubled homeowners’ mortgage debt would hurt the nation’s financial system.

If the four lenders established a year-and-a-half long program to reduce debt on first mortgages by 15 percent for borrowers at risk of foreclosure, and also worked to lower loan balances by 30 percent until 2015 for seriously-delinquent borrowers and those in foreclosure, they’d face little consequence, the IMF said.

Check out the rest here…

Be sure to also check out the report from the IMF here…

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4closureFraud.org

Comments
29 Responses to “Report | Mortgage Debt Relief For Distressed Homeowners Won’t Hurt Big Banks, IMF Says”
  1. one sound says:

    Remember in the sceam of thing time is realy not the factor !

    This is all sequencess that have to happen just like opening a chiness puzzle box or opening a combination lock !

    So many things that were planed to happen did not because they did not fall in the right order .

    Us waking up in the nick of time was not expected by the evil brattish ones

    So are running out of time and things to plot, you see they work on suttlties like boiling frogs slowly they turn up the heat so the frog do not notice , they get comfortable and fall asleep and the next thing you know well you know the rest.

    The only real time line is the end of the age and the begining of the new won that starts in around nov, dec of 2012

    Remember our desstiney is the same for all people men and woman

    Fate is caused by the disisions that we make you are always going to go back where we came form our creator but the pain we may endoure is caused by making the wrong choicess !!

    So follow your heart the heart is true it is your mind that thinks it knows the best thing and getts in the way of destiney
    w
    Just telling you all what i found to be true in my life and believe me I have made every misstake i thing a man can make but i think im starting to get a clue and i’m grasping hard to what i have found to be real

  2. one sound says:

    Here is couple good one for you all you have heard the term you double crossed me the first link will give you clue where thgat saying came from http://www.youtube.com/user/bguman

    This one will let you know the plan
    http://www.youtube.com/user/AlphaZebra

    Heres to waking up the rip van winkles of the world it is our duty toi do so and do it peacefully with no violence when the whole world is watching there is no where for them to go

    • l vent says:

      I like that idea alot . LET’S WAKE UP AMERICA.! They want to destroy our NATIONAL SOVEREIGNTY. TIME TO MOVE ON WASHINGTON. CONgress are no more than a cabal of TREASONISTS.

  3. one sound says:

    Here is a good clip that spould help no pun intended
    http://www.youtube.com/user/pierre1024

    • l vent says:

      GREAT LINK, one sound, Check out _The Jesuits*God Help Us_, videos on that link. They discuss the UNHOLY ALLIANCE between the U.S. GOVERNMENT AND THE JESUITS and THE BLACK POPE A/K/A THE JESUIT GENERAL.. THEY TELL THE TRUTH ABOUT THE POWER OF THE ROMAN CATHOLIC CHURCH AND HOW THE ARE THE RULING SHADOW GOVERNMENT HERE IN AMERICA. ERIC JON PHELPS also wrote an excellent book on the subject entitled VATICAN ASSASSINS: Wounded In The House Of My Friends there are you tube videos interviewing Mr Phelps about the Jesuit order. .”. There is an excellent article entitled: Maniacal World Control Thru The Jesuit Order Well-Hidden Soldiers Of Satan that is posted at http://www.theforbiddenknowledge.com/hardtruth/jesuit_world_control.htm

      • l vent says:

        Thank you 4closure fraud for posting this link. This is an extremely important article, maybe one of the most important pieces of information that any American that is seeking the truth about how America got to this awful place in our history could seek to find. This is a lengthy article so I printed it out when I found it so that I could really take my time reading it and fully understand it. This article really woke me up and shook me to my core. This information really connected alot of the dots that I was able to find and completely changed my views about the world including my own Catholic faith.

  4. Katheryn says:

    An audit of the US Government. What a pandors box that would be. We think that the fraud we are seeing now is something…..remember the Wendy’s commercial “Where’s the Beef” we coin a new phrase “Where’s the Money”.

  5. l vent says:

    I think what we really need an AUDIT of the U.S. TREASURY AND OPEN UP FORT KNOX, THAT IS WHERE THE PEOPLES MONEY IS HIDDEN. SCREW AUDITING THE FEDERAL RESERVE, THAT IS THE NEW WORLD ORDER. AMERICA IS NOT BROKE. WE ARE THE WEALTHIEST COUNTRY ON THE PLANET. CONGRESS IS COMPLETELY FULL OF SHIT, A BUNCH OF LIARS. TIME TO OPEN UP FORT KNOX AND LET US SEE WHAT WE THE PEOPLE, THE AMERICAN TAX-PAYER HAVE TO BACK US UP WITH A NEW CURRENCY. SCREW THE FEDERAL RESERVE, THEY SUCK.

    • l vent says:

      Max Keiser said the only thing they have hiding in the Federal Reserve is Pablo Escobar and mountains of cocaine. All of the people’s wealth that they already stole in the cyber scheme, THE COUNTERFEIT SECURITIES FRAUD PONZI SCHEME is WELL hidden. Our wealth that they made off of a giant deception, that they called pigs and crap, they already spread OUR stolen wealth around overseas. OUR STOLEN WEALTH IS PROBABLY HIDDEN IN THE BASEMENT OF THE VATICAN. Open up the U.S. TREASURY and FORT KNOXX.!!! What does TIMOTHY GEITHNER HAVE HIDING IN THERE that he does not want us to see? I think that Ron Paul’s idea to AUDIT the FEDERAL RESERVE IS MASSIVELY DECEPTIVE. THE FEDERAL RESERVE BANK IS A PRIVATE FREAKING BANK. THAT IS LIKE TELLING CHASE THE PEOPLE WANT TO SEE WHAT IS IN YOUR VAULT AND AUDIT YOUR BOOKS. THE FEDERAL RESERVE/WALL STREET/BANKSTERS, ALL FOREIGN OWNED MULTINATIONAL CORPS. ARE THE WEALTH CREATING/PONZI SCHEMING TRANCH AND THE ROBBER BARRONS FOR THE NEW WORLD ORDER. THE PEOPLE WANT TO KNOW WHAT IS IN OUR VAULT AT FORT KNOXX. WE WANT TO KNOW WHAT IS IN THE PEOPLES BANK WHICH IS THE U.S. TREASURY DEPARTMENT. THAT IS THE PEOPLES WEALTH. WE THE PEOPLE WANT IT. WE THE PEOPLE ARE SICK AND TIRED OF THE DEBT CREATING MONSTER THAT IS THE FEDERAL RESERVE BANKING SYSTEM.

  6. l vent says:

    The PONZI SCHEME was no more than a giant digitized scam and that includes MERS. They never securtized the loans because the mortgage loans never existed. It was all a TRICK a GIANT SCAM. They sold fakery to the investors and gambled on thin air up on WALL STREET just like what ENRON did. ENRON was no doubt the TRIAL RUN FOR THE FRAUDULENT BUSINESS MODEL FOR THE PONZI SCHEME.This PONZI SCHEME was all about nothing more than alot of slight of hand fakery. A lot of phony fraudulent documentation like the certificates they gave the investors in the MBS’s that NEVER EXISTED and the MORTGAGE LOANS AND NOTES THAT THE HOMEOWNERS NEVER REALLY OWED. IT WAS ALL AN ILLUSION. They went by alot of phony algarhythms and digitized all of the fraud up on WALL STREET to hide the fact that there was nothing ever there but alot of SPECULATION. THESE CRIMINALS MADE TRILLIONS OFF OF THE MBS SPECULATION WITH MORTGAGE DERIVATIVES AND BY TRICKING HOMEOWNERS AND INVESTORS INTO BUYING INTO THE PONZI SCHEME THAT WAS NO MORE THAN A HUGE DECEPTION..

  7. Jack W. Dopp says:

    While I devour your Foreclosure Fraud website, I long to see you provide knowledge about the US Monetary System as it relates to banks and mortgages. Banks almost never make a loan out of their own funds [banking laws do not allow that–they almost never ever write a check against a bank’s account. A signed loan paper-or note- is cash to them, and most of the time they open a trasnsfer account in the borrower’s name [who never knows about it], and deposit the loan amount in that account as a cash deposit. As a deposit they can lend from 2 to 17 times the amount–because of fractiolized banking-banking laws. Most banks do not own many, if any, loans so that probably if all 60,000,000 loans involving MERS were foreclosed-the big banks would not be effected. They probably have a huge burden of proof to show that they did not make fraudulent loans.

    • Katheryn says:

      That has been the case in the last ten years or so. Prior, local banks made mortgage loans that they held. They was strict adherence to guidelines and appraisals to get an approval from the underwriter. Yes, this was a planned and calculated ponzi scheme on the part of Fraudstreet and the banksters with the blessing and promise of protection of our own US Government to whom we pay our hard earned taxes and in whom we put our misdirected trust. The scheme must be brought down and exposed for exactly what was and still is. Our legal system must step up to the plate even if our lame politicians won’t. And as for the congressional prayer breakfasts….how shameful. What do they do ask God for to forgive them for their part in this plot against the Americans they have taken an oath to protect? I think they should not only have breakfast prayer meetings but lunch and dinner also. I pray that God gives some of them the courage and fortitude to stand up for the people and country they have hurt.

      • Mary says:

        You are right. We live in a paperless society..God help Mers if their computer system goes down. Those money transfers are not even paper, just computer entries. Guess that is why they used the piles of cash in Iraq to play football with…it was just a joke. Like Katherine says, it didn’t used to be this way, it didn’t. The last ten years we have fallen down the rabbit hole with Alice. Anything that you could think of in Wonderland…they did.. We have to respond in kind I guess, become as senseless as they did and quite pretending they had a clue that they knew what they were doing. They were so smart they outsmarted themselves. Alice..’ you are nothing but a deck of cards!’

      • Katheryn says:

        Card houses always end up falling down. Until it does, we must all do what we can to speed up the fall and have faith that God is watching and shall provide the white horse 🙂

    • l vent says:

      They never securitized the loans. They never cashed in the notes. The mortgage loans never existed. THE ORIGINATION FRAUD PROVES THIS, THE MORTGAGE LOANS NEVER EXISTED.Like Enron, they SPECULATED on every aspect of the fraud and used no real money to gamble with, just MORTGAGE DERIVATIVES AND TRICKED INVESTORS INTO BELIEVING THEY WERE INVESTING IN AAA MBS’s when really they were worthless shit. THIS SCAM WAS ALL WALL STREET DIGITIZED FAKERY AND THEY WENT BY PHONY TRICKS LIKE ALGARHYTHMS , IT WAS ALL A SCAM, A FRAUD.THEY DID NOT CARE BECA– USE THEY WERE TOO BIG TO FAIL, REMEMBER THAT PHRASE? THEY KNEW THEY WOULD GET THE BAIL-OUT FROM CORRUPT CONGRESS AND MAKE THE TAX-PAYERS PAY TO COVER UP FOR THEIR PONZI SCHEME THEFT OF OUR WEALTH. THIS SCAM WAS A WELL PLANNED INSIDE JOB AND THEIR WERE ALOT OF TREASONIST AMERICANS INVOLVED AND — USED AS PERPS BUT THE SCHEME WAS DEVISED BY TREASONISTS IN CONGRESS WHO ARE REALLY WORKING FOR THE NEW WORLD ORDER AND WAS IMPLEMENTED BY A FOREIGN ENTITY KNOWN AS FANNIE MAE AND FREDDIE MAC, A/K/A THE NEW WORLD ORDER.

  8. l vent says:

    How does the IMF/NEW WORLD ORDER have any say so in the AFFAIRS OF UNITED STATES OF AMERICA? The IMF, is the “entity” that is the BIGGEST SHAREHOLDER IN the so called GSE’s FANNIE/FREDDIE. THAT IS CLEAR PROOF OF TREASON FROM WITHIN OUR OWN GOVERNMENTAL STRUCTURE. We The People OWE NO ALLEGIANCE AND NO MONEY to the IMF/NEW WORLD ORDER. THE IMF/NEW WORLD ORDER — USED DECEPTIVE PRACTICES BY POSING AS A U.S. GOVERNMENT ENTITY FANNIE/FREDDIE IN ORDER TO INTENTIONALLY SET US UP TO FAIL IN ORDER TO STEAL OUR JOBS, WEALTH AND OUR HOMES. THEY ALREADY HOLD ALL OF OUR LAND IN FEE SIMPLE via the U.N., BECA– USE OF TREASON BY OUR OWN GOVERNMENT. OUR U.S. CONSTITUTION OVERULES THEM AND OUR BILL OF RIGHTS PROTECTS OUR PROPERTY RIGHTS. NATIONAL SOVERIEGNTY WILLL PREVAIL UNDER THE U.S. CONSTITUTION. GOD BLESS AMERICA!!!! THE AMERICAN PEOPLE MUST THROW ALL OF THE REPUBLICONS AND DEMORATS OUT OF OFFICE. THEY ARE BOUGHT AND PAID FOR BY THE UN/NEW WORLD ORDER. THEY ARE MAKING A LAUGHING STOCK OF THE UNITED STATES OF AMERICA. THEY ARE NO MORE THAN A BUNCH OF AMERICAN TREASONISTS TO THEIR OWN PEOPLE AND COUNTRY. OFF WITH THEIR HEADS!!!

    • l vent says:

      F—-THE IMF/ NEW WORLD ORDER. THEY HAVE NO SAY UNDER THE U.S. CONSTITUTION OF THE UNITED STATES OF AMERICA. NATIONAL SOVERIEGNTY WILL PREVAIL.

      • l vent says:

        TIME TO SEND THE FOREIGN MULTINATIONAL BANKING SYNDICATE PACKING ALONG WITH ALL OF THE FOREIGN MULTINATIONAL CORPORATIONS. WE DON’T WANT THEM HERE LYING AND D/B/A AMERICAN INSTITUTIONS. THEY ARE_ NOT_ AMERICAN INSTITUTIONS, THEY ARE A GIANT CABAL OF FINANCIAL TERRORISTS WHO ARE OUT TO DESTROY AMERICA’S NATIONAL SOVERIEGNTY. .THEY ARE TOO BIG_ NOT_ TO FAIL. THEY ARE THE OLIGARCHY WHO WORK FOR THE ROMAN ARISTOCRACY and they want no less than a world wide fascist tyranical dictatorship a ONE WORLD IMPERIALIST PLUTOCRACY , A/K/A. THE UN/NEW WORLD ORDER. NATIONAL SOVERIEGNTY WILL PREVAIL. DEATH TO THE TYRANNY!!!

    • Katheryn says:

      IVent…I have said this for many years…get rid of the two parties and bring in ordinary common sense people and have an Independent party. It is, and they are, all too corrupt now. Even those that are honest can’t do any good with all the evil around them!

      • l vent says:

        You are right Katherine, the NEW WORLD ORDER has corrupted the entire Government structure. That is why there is no justice for the victims of Foreclosuregate. The NWO wants no Soveriegn nations and wants the people who they refer to as the peasants, to own nothing but the debt they create. Our U.S. CONSTITUTION is the only thing standing between us and their diabolical plans for a one world fascist tyranny in America. All of the Republicons/Demorats have to go. They are all treasonists A/K/A AMERICAN IMPOSTERS. They are all really working for them, that includes the entire justice system which is now clearly promoting the law of the jungle. .

      • Just take out he corrupt corporate and banking perversive amounts of money that goes in to our politicians, out of the equation and you will have a better and different government

    • Vale says:

      Could not agree more! The real MAFIA is our own government and they have done nothing to to solve this problem instead they have thrown Billions at these banks yet the banks having been made solvent still want the persons home. WHY? The US Government does not want anyone owning land or a home. This has been in the work for almost 100 years and now they are working to put the final kiss of death to the very public that elects these filthy scum. We all need to fight harder and shout louder!

      • Its not so much the Gov but the corrupt corporate and banking perversive amounts of money that goes in to our politicians, take that money out of the equation and you will have a better and different government

    • one sound says:

      All that need be done for us to just stop playing in the game of monopoly we are the one who give it life , it is our energy it feeds on , just take a good look around , we are the masses they are the few and possetion is 9 /10 tenths of the law he who possesses controls the whole system banking is a corrupted system is a slave system in the first place it has possessed the minds of the world

      IT IS WHAT IN-ABLES the thieves to take control over honest hard working people!!!!!!!

      You do not need money that is the shame, they create the desire for you to want it there for you THINK YOU NEED IT.
      Like zombies who do not think freely

      TAKE A BREIF LOOK AT HIS-STORY it is the banksters that started every war

      The government is a wag the dog a pony show where the pony has been ridden hard a put up wet to many times

      JUST STOP America

      • l vent says:

        NATIONWIDE PROPERTY TAX REVOLT. Cut down on gas consumption, take your money out of the banks. CUT UP THOSE DEBIT CARDS. Dont buy stuff you don’t need. Stop buying new cars and assuming car payments that you do not need. ASSUME NO NEW DEBT BURDEN. Don’t vote for any Republicans or Democrats in 2012. Go to holistic doctors if you are sick. Shut off those cell phones when you are not using them. They are also spying on us through our cable boxes I have heard Shut off the television and dimantle the cable boxes for a while and go to the library and check out some good books and educate yourself.

      • Mary says:

        Yes, we do have quite a history, don’t we. I just watch all this and think..wow, I am watching the ending of the United States of America..didn’t know it would happen it my lifetime. We certainly didn’t get to be an Empire very long 🙁

      • Katheryn says:

        @ Mary

        The American people have proven many many times in the past that we are very resilient and will right the things that total greed have ruined. I don’t believe that if it comes down to the nitty gritty, the people will lay down and let that happen. This country was founded on the principle of “For the People and By the People”. I don’t recall anywhere in the Constitution where it says only the “wealthy” people. We will not let it happen without tremendous bloodshed which really won’t lay a great foundation for the elitest society either. We must all spread the word about what is happening so that all know we have been scammed by Fraudstreet and our own government. We will not let a small group of elitest mafia own us. It has come time for the rich corporations to pay their fair share and close up all the loopholes they have been given. I’m tired of hearing the excuse that this will kill jobs. The middle class has carried this country and now we are having everything snatched right out from under us. This has to stop and it will…..I just don’t know how long it will take and if it will end up in bloodshed. We can only pray that the evil ones will realize that the veil has been ripped off and amends must be made.

      • l vent says:

        Mary, the truth is the Jesuits have been trying to overthrow America since not long after the signing of the Declaration of Independence. Check out this link, you decide: http://www.theforbiddenknowledge.com/hardtruth/jesuit_world_control.htm

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