Comments on: Loan Mod Program Left Homeowner’s Fate in Hands of Dysfunctional Industry

By: l vent

l vent — Sat, 19 Feb 2011 03:56:44 +0000

In reply to Andrew.

I found out in my own investigation that these so called “TRUSTS” probably do not even exist and may never have existed. It is all a ruse. They have made it virtually impossible to “VERIFY’ the existance of any”TRUST’. As of right now there are at least 150 banks in my State hiding behind a “TRUST’ that was newly created from a ‘DEFUNCT TRUST’ and is neither FDIC insured or SECU RITIZED and is now called North Star. Most of the banks listed as being in this so called “TRUST’ are now “failed banks” so how could they be the “TRUST’ for anything? Pure evil, greedy deception, beyond despicable. I want to sue all of them and see them prosecuted under the RICO ACT. It is time to stop the charades, the jig is up, we got robbed America.

By: stopGOVTwaste

stopGOVTwaste — Fri, 18 Feb 2011 17:44:05 +0000

Foreclosures 2011 Legislation by State

http://www.ncsl.org/?tabid=22116

By: l vent

l vent — Fri, 18 Feb 2011 17:13:41 +0000

A FAKE FRAUDULENTLY INDUCED LOAN MODIFICATION WILL BE ONE OF THE FINAL NAILS IN THE COFFIN OF THE MIDDLE CLASS and they know it. THEY ARE STRATEGICALLY BANKRUPTING AMERICA AND THROWING THE PEOPLE OUT IN THE STREET TO DIE FROM POVERTY, HUNGER AND SICKNESS. If they DO NOT HAVE THE ORIGINAL WARRANTY DEED AND THE ORIGINAL BLUE INK NOTE THEY CANNOT STEAL YOUR HOME. THEY DO NOT HAVE EITHER.

By: l vent

l vent — Fri, 18 Feb 2011 17:03:56 +0000

I am SICK OF THE LIES. The reason there were NO loan modifications was because of the FACT that the MORTGAGE DEBT NEVER EXISTED. The banksters needed COLLATERAL (our paid off homes) to participate in the BIGGEST PONZI SCHEME THEFT OF OUR WEALTH in history, up on WALL STREET. The VEHICLE that they used to PERP ALL OF THE FRAUD was our ORIGINAL BLUE INK NOTES THAT SOMEONE DESTROYED. OUR HOMES (DEEDS and MORTGAGES) WERE PAID FOR, by us for a nominal fee, AND HAVE BEEN SINCE THE ORIGINATION OF THE FAKE MORTGAGE. We have been paying a FAKE MORGAGE DEBT all along and also RENT via our property taxes. We all BOUGHT homes that they knew we would clearly NEVER OWN because of PROPERTY TAXES. WE GOT DOUBLED DIPPED, CHARGED INTEREST AND THEREFORE WE WERE ROBBED. A completely fraudulent business model set up for ALL OF US TO FAIL and NEVER OWN ANYTHING BUT DEBT.

By: John Stickler

John Stickler — Fri, 18 Feb 2011 16:25:09 +0000

The U.S. Census Bureau just revealed that 11 percent of all U.S. residences are now empty, that’s an astounding 18.4 million homes, and projections show another seven million more in the foreclosure pipeline between now and Dec. 2012. This huge inventory of unsold properties will take YEARS to unload. The glut of empty units drives down the value of all homes, keeps homebuilders from starting new projects, and qualified buyers waiting until values “hit bottom.” Residential home sales in California dropped 9 percent in 2010 (41,588 units fewer than 2009) and will continue to slide as mortgage interest rates climb.
Now comes the state of California with its answer to the problem, a $2 billion “bailout” for underwater mortgage holders. However, the offered principal reduction is capped at $50,000. That will help next to no one in California. In Riverside County, where I live, the AVERAGE drop in value has been 60 percent, way more than $50,000 for most homeowners.
The answer is not to increase HAMP payments to the lenders. Foreclosing is more profitable for them.
The only answer is to force the lenders to modify upside-down mortgages back to current market values — allowing homeowners to remain in their homes making payments they can afford while rebuilding their equity. This will slow the devastating onslaught of foreclosures, reduce the flood of empty homes onto the market, keep neighborhoods from deteriorating any further, and offer some hope that the real estate segment of the economy will one day recover. Without this approach the nation will not see an economic turnaround any time soon.

By: Andrew

Andrew — Fri, 18 Feb 2011 16:16:40 +0000

Its all BULLSHIT.
1st THEY claim that their systems were/are outdated.
Then THEY claim their turnover rate is 25%, and to top it off THEY claim the investors will lose Billions$$$$.

Hogwash all of it.

THEY have sucked OUR Country dry and they do not care about the average homeowner trying to save their shelter.

Their greed has brought OUR country to its knees and THEY will not stop because Their GREED is the only thing THEY know.