Special Housing Depression update with George4title and VisionVictory.
Part 2 will be posted on Friday April 10th at youtube.com/george4title
Part 3 will be posted on Sunday April 12th on the VisionVictory Channel
TBA Part 4 & 5
Duration : 0:6:47
Questions can be sent to: besserpaperwork@yahoo.com
Paperwork can be found here: http://besserpaperwork.blogspot.com
Lion News Blog address (URL): http://lionnews00.blogspot.com
On 06-09-10 issues of Lion News were being distributed throughout Alexandria, MN. Thugs wearing badges and guns tried to censor the distribution through a harassment campaign. However, by acting as a team, the vile censors were no match for the vicious pair of lions! Watch the censoring crooks scurry back to their dark holes! Thank you, Lord!
Check out this:
Lion News: Glenwood Cops Give Aid And Comfort To Disorderly Person?
These thugs learned their tactics on how to hide their identity from the people like the City Attorney and the County Attorney, didn’t they? These thugs are taught strategies how to commit a crime and then how avoid the consequences, aren’t they? These crooked attorneys are supposed to protect individual’s rights, not special interest group’s rights! And there is no right to commit crimes, is there?
Don’t Talk To Cops
http://www.youtube.com/watch?v=08fZQWjDVKE
Duration : 0:3:2
http://realestatemarketingthisweek.com/foreclosure/the-pitfalls-for-trusting-your-bank-one-more-time-beware-the-foreclosure-sharks/ – The pitfalls for trusting your bank one more time; Beware The Foreclosure Sharks –
Part 4 – This whole loan modification thing reminds me a lot of the old Peanuts comics where every fall Lucy would get out with the football and she would set it down on the ground, and she would coerce Charlie Brown into coming along and kicking the football. Well of course as we all know Charlie never got to kick the ball, Lucy always pulled it out from underneath him and I kind of look at the mortgage industry, the servicing end of it in particular that way.
You have to think about it, in many cases the loan that you were put into was not a good loan in the first place. The person who gave you that loan knew it was not a good loan, the Wall Street banks that came up with these crazy ideas should have known better. Now admittedly they didnt otherwise they would not be out of business today, but they should have known that these were not good products.
Yet when you are faced with an issue regarding your house so many people go back to the bank, like Charlie Brown going back to Lucy and believing that THIS time Lucy is not going to pull the ball away. Well what is going to keep the bank from not pulling the ball away from you this time? Absolutely nothing.
I love that analogy; everyone remembers the Charlie Brown show and the comic books like you said. Another thing I want to point out too, going back just a little bit, you mentioned the lenders who put these home owners into these loans knew that they were not good loans. My thoughts after some of the mods that Ive seen, that you and I have seen doing the forensic audits, the home owner could have qualified for an FHA loan in those times, but it was so much easier for banks to put them into these sub prime loans because the documentation was easier, and it was just easier.
It is not just that they are easier; I know that your firm, Velocity Financial is FHA approved but what percentage of lenders today when, we probably have maybe 30% as many lenders as we had two years ago, what percentage today is FHA approved?
In the state of Arizona, of all the lending institution, less than 15% of all mortgage firm, banks, credit unions, less than 15% are licensed by the federal Housing Administration. Velocity Financial is proud to be one of those firms.
What I saw back in the peak of the market is of course everybody thought that real estate was going to go up for ever. Every body wanted to jump on board and buy 3,4,5,6 properties and I always tell the story that I knew we were in trouble, I knew we were hitting the top of the market long before I developed any of the models for Real Estates Future when I walked into our bank one day and I saw that they had a loan that was 100% financing for someone to buy an investment property and they didnt have to prove their income and they only needed a 620 FICO score.
Which considering everything now, I mean, to get a Fannie Mae loan today what kind of a FICO score do you need? If youre an investor? If youre an investor you need 720 and probably 20% down, at least 20% down and certainly it is not stated income anymore. No that doesnt exist, and significant cash reserves, the whole nine yards.
So these banks knew the kind of garbage that they were giving to people and yet we are supposed to trust them to get us good loan modifications. I think that in one of the later segments we are going to talk about the newest guidelines that just came out from Fannie Mae and Freddie Mac regarding their new fancy-schmancy loan mod program and to be honest with you I dont think it really does much for people at all. We will talk about that in the next segment and to the people who are in the mortgage or real estate industry or who have been in the real estate or mortgage industry it is going to sound a little bit like a comic bit because this might as well be bath tissue, I dont even know why they came out with it.
We are going to talk about that along with a few other things, so real quick I know we havent had too much of a chance to talk about The Foreclosure Sharks, Dan but we will touch on that a little bit later. How do people get a copy of this white paper, The Foreclosure Sharks these are things that people need to be looking out for?
Yes, for The Foreclosure Sharks you can go to my website, http://mortgageanswerman.com. There will be a link there you just click on it and pick yourself up a copy and it will help if you are in a foreclosure situation if people come knocking on your door it will help you to at least know what to look out for. So mortgageanswerman.com for The Foreclosure Sharks… http://realestatemarketingthisweek.com
Duration : 0:6:54
Attorney General Martha Coakleys Office entered into a settlement with Fremont Investment & Loan and its parent Fremont General Corporation (“Fremont”) to resolve the Commonwealth’s lawsuit against the California-based lender. Fremont has agreed to pay the Commonwealth $10 million in consumer relief, civil penalties and costs. Fremont has also agreed not to foreclose upon unfair loans without certain protections for borrowers or originate unfair loans in the Commonwealth. Those protections against foreclosure, which have been in place since the Superior Court issued a Preliminary Injunction in March 2008 are now permanent and also apply to the loan holders and servicers who acquired the Fremont loans since the injunction issued.
Duration : 0:5:11
Rich Iacovetta of RMI Lending discusses the latest mortgage news. http://www.fbfriday.com for your latest mortgage and financial news with a humorous twist.
A Long Island couple is home free after an outraged judge gave them an amazing Thanksgiving present — canceling their debt to those ruthless bankers that were trying to toss them out on the street.
Suffolk county Judge Jeffrey Spinner wiped out $525,000 in mortgage payments demanded by One West
Spinner pulled no punches and laid the smack down on the bankers of OneWest saying, I will strike down upon thee with great vengeance and furious anger. Ok, he didnt use those exact words, but that would have been the dialogue if I made the decision that left Diane and Greg Horoski, owing absolutely no money on their ranch house in East Patchogue NY.
This sets a VERY troubling legal precedent. A precedent that judges can forgive debt for citizens who legitimately owe the debt.
Duration : 0:3:3
Homeowner Stability Act– help for homeowners or just another Government scam? The Making Home Affordable program will offer assistance to as many as 7 to 9 million homeowners making a good-faith effort to make their mortgage payments, while attempting to prevent the destructive impact of the housing crisis on families and communities. It will not provide money to speculators, and it will target support to the working homeowners who have made every possible effort to stay current on their mortgage payments. Just as the American Recovery and Reinvestment Act works to save or create several million new jobs and the Financial Stability Plan works to get credit flowing, the Making Home Affordable program will support a recovery in the housing market and ensure that these workers can continue paying off their mortgages. By supporting low mortgage rates by strengthening confidence in Fannie Mae and Freddie Mac, providing up to 4 to 5 million homeowners with new access to refinancing and creating a comprehensive stability initiative to offer reduced monthly payments for up to 3 to 4 million at-risk homeowners, this plan brings together the government, lenders, loan servicers, investors and borrowers to share responsibility towards ensuring working Americans can afford to stay in their homes.
US Treasury- Do I qualify for a mortgage abatement, reduction, rewrite, modification Mortgage Debt Relief Act forgiveness relief mortgage backed securities ron paul alex jones peter schiff george soros burning down the house real estate rick santelli we the people campaign for liberty bailout scam fraud ponzi madoff congress senate dems republicans democrats depression recession
http://www.mutualfundcenter.com
http://www.atlanticfinancial.com
http://www.fentonreport.com/2004/08/16/health-living/scam-artists/72
http://www.fentonreport.com/2004/08/23/trends/the-internet-is-dead-%c2%a0%c2%a0-i-don%e2%80%99t-think-so/73
http://www.fentonreport.com/2004/08/30/economy/who-is-alan-greenspan/74
Duration : 0:1:55
For more than a year, Ron and Lynne Gigliello said they have been in home loan quicksand and they blame mistakes made by Bank of America.
Duration : 0:2:6
Today, Attorney General Martha Coakley filed final, revised mortgage broker and mortgage lender regulations with the Secretary of State and has issued official guidance to the broker and lender community to help them understand and implement the new consumer protection regulations governing mortgage brokers and lenders. The regulations, which take effect on January 2, 2008, codify several forms of mortgage fraud and unfair lending which contributed to the recent meltdown in the subprime market and the resulting foreclosure crisis in the Commonwealth.
Duration : 0:5:54
Today, Attorney General Martha Coakley filed final, revised mortgage broker and mortgage lender regulations with the Secretary of State and has issued official guidance to the broker and lender community to help them understand and implement the new consumer protection regulations governing mortgage brokers and lenders. The regulations, which take effect on January 2, 2008, codify several forms of mortgage fraud and unfair lending which contributed to the recent meltdown in the subprime market and the resulting foreclosure crisis in the Commonwealth.
Duration : 0:5:10
http://www.FiremanBuysHouses.com Metro Atlanta Fireman/ Dad / Real Estate Investor offers help and solutions to those needing to sell their home quickly. Jimmy and his investor team buy homes for cash, can take over payments immediately, or lease purchase homes to qualified buyers. To find out more, simply complete our easy form at http://www.FiremanBuysHouses.com
Duration : 0:1:57