Posts Tagged ‘mortgage modifcation’
The Government and Fat Cat Bankers Conspire Against Us
Author: Matthew D. Weidner, Esq.
In Sunday’s Wall Street Journal, James Thorner reports what many of you already know….The Federal Government is doing next to nothing to help solve the foreclosure crisis. If you’ve tried to get a modification, you know the drill…YOU CAN’T GET ONE!
In fact, of the hundreds of thousands of good people in the Tampa Bay area who need help, only 3,653 have qualified. The article reports that nearly twenty percent of mortgages in the Tampa Bay area are 90 days late…and that number is low. So the modifications are a drip drop in a big fat bucket. Read the full story here. James Thorner got it right in the headline, Mortgage Shell Game.
It’s a game being played against the American people. The Fat Cats bet against the American people and the feds continue to reward and prop up there bets. Read the Wall Street Journal Article here. Goldman Sachs isn’t the only one…..they all bet against us and committed massive fraud….they are continuing to be rewarded.
Our only hope: Convincing circuit judges and state legislators not to reward the continued systemic fraud against the American / Florida people.
Remember, Foreclosure Courts are Courts of Equity…..that has profound significance in the long-term fight.
HOLY SMOKES- BofA to Slash Principal Balances on Mortgages!
Author: Matthew D. Weidner, Esq.
Finally, as reported here in today’s edition of the Wall Street Journal, BofA is going to start reducing the principal balance on mortgages.
After being pumped full of billions of dollars in taxpayer money and after acquiring many of the loans that will be reduced for cents on the dollar….reducing principal is just something that makes sense.
Read on and stay tuned….much more on this later. This is a trend that will undoubtedly make its way to other lenders as well!
Double Dip in Housing Means More Foreclosures Are Coming.
Author: Matthew D. Weidner, Esq.
Housing starts fell dramatically, after posting several months of slight increases or stabalization. Meanwhile more Americans who bought homes during this brief increase are falling into trouble. About 3.4% or 1.9 million homeowners are 120 days or more late on their payments, up 1.5% from last year.
- The total number of homes for sale was 3.63 million in September, down 15% from last year.
- During the peak, residential housing made up 6.35 of Gross Domestic Product, today it is 2.5%.
- The average price of a US home doubled between 2000 and 2006; since then the avergage has dropped 30%.
- Overall 12.4% of American households with mortgages were 30 days or more overdue or in foreclosure.
