Foreclosure-Default-Real Estate
If you enjoy irony you'll enjoy this site.
The Mortgage Bankers Association is losing a bunch of money on an investment gone bad, just like many others in this economy. Please note in the article that the Association may pay some of the debt due the lenders. If you wonder why morality and ethics are flexible and don't concern all of us equally you're probably part of an older generation that has not tuned in to modern values. Think Edwards, Spitzer, Dodd, Geithner, well you get the idea.
Foreclosures continue to drive much of the market in residential sales despite the prodigious amount of money the government is throwing at the problem trying to stem the tide. Efforts to shore up the toxic mortgages that fill the portfolios of financial institutions with tax dollars, presumably to help troubled homeowners with modified loans, etc. have not been entirely on target. The beneficiaries of the bad lending practices inspired by Frank, Dodd, and their friends at Fannie and Freddie have not lost their place in line, as evidenced by the video available here
If you thought the government was attempting to help you with your mortgage problem this little video may change your thinking.
We have tried in the past to help people with mortgage needs or problems, and we'll continue to do so, but it is discouraging to watch as people continue to allow themselves to be deluded by opportunists both in and out of government. There is a steady flow of misinformation directed at the vulnerable, some well intentioned, some self-serving, and you must protect yourself. There is no tooth fairy. A recent article in the New York Times, dealing with foreclosures, etc. quoted a Phoenix Mortgage Broker who claimed to have counseled 60 people who were upside down in their mortgage to "just walk away". Perhaps the law in Arizona is more relaxed than in my state, but that advice requires either or both, a license to practice law, and/or a CPA, and my Mortgage Broker License would be a thing of the past if I offered that advice to my clients. I have a FREE booklet available for people to learn their options when confronted with mortgage issues, http://www.foreclosurebooklet.com , and better still a lawyers referral service to help insure getting an expert in the field at http://www.foreclosurelawyersreferral.com.
No charge to you ever, so do your homework. If you think "walking away" is a good idea you may want to check http://www.strategic-foreclosure.com
I'm going to try to update this blog more frequently and focus on foreclosure issues. I'll link to relevant sites and articles in the hope that someone will benefit from one of them, if in no other way than entertainment value. Watching politicians and others discover new and ingenious ways to steal from you can be exhilarating, and may provide you enough warning to get out of harms way.
As usual
Thanks for visiting
The Mortgage Bankers Association is losing a bunch of money on an investment gone bad, just like many others in this economy. Please note in the article that the Association may pay some of the debt due the lenders. If you wonder why morality and ethics are flexible and don't concern all of us equally you're probably part of an older generation that has not tuned in to modern values. Think Edwards, Spitzer, Dodd, Geithner, well you get the idea.
Foreclosures continue to drive much of the market in residential sales despite the prodigious amount of money the government is throwing at the problem trying to stem the tide. Efforts to shore up the toxic mortgages that fill the portfolios of financial institutions with tax dollars, presumably to help troubled homeowners with modified loans, etc. have not been entirely on target. The beneficiaries of the bad lending practices inspired by Frank, Dodd, and their friends at Fannie and Freddie have not lost their place in line, as evidenced by the video available here
If you thought the government was attempting to help you with your mortgage problem this little video may change your thinking.
We have tried in the past to help people with mortgage needs or problems, and we'll continue to do so, but it is discouraging to watch as people continue to allow themselves to be deluded by opportunists both in and out of government. There is a steady flow of misinformation directed at the vulnerable, some well intentioned, some self-serving, and you must protect yourself. There is no tooth fairy. A recent article in the New York Times, dealing with foreclosures, etc. quoted a Phoenix Mortgage Broker who claimed to have counseled 60 people who were upside down in their mortgage to "just walk away". Perhaps the law in Arizona is more relaxed than in my state, but that advice requires either or both, a license to practice law, and/or a CPA, and my Mortgage Broker License would be a thing of the past if I offered that advice to my clients. I have a FREE booklet available for people to learn their options when confronted with mortgage issues, http://www.foreclosurebooklet.com , and better still a lawyers referral service to help insure getting an expert in the field at http://www.foreclosurelawyersreferral.com.
No charge to you ever, so do your homework. If you think "walking away" is a good idea you may want to check http://www.strategic-foreclosure.com
I'm going to try to update this blog more frequently and focus on foreclosure issues. I'll link to relevant sites and articles in the hope that someone will benefit from one of them, if in no other way than entertainment value. Watching politicians and others discover new and ingenious ways to steal from you can be exhilarating, and may provide you enough warning to get out of harms way.
As usual
Thanks for visiting
posted by Douglas Doss | 7:49 AM
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