If you have something to say...
Say it on the Huffington Post
If you have something to say...
Say it on the Huffington Post
The Blog
As a homeowner, you must know how your income and expense numbers look in the eyes of the lender and you must question authority; be the squeaky wheel, be your own best advocate and do not give up.
It is bleak mid-winter in America right now. There will be a lot of carol singing this week, but sadly also a lot of hypocrisy in the choir. Oh that it were otherwise.
Are you one of the lucky ones? Have a good job, live in a nice neighborhood, enjoy your cozy home? Think foreclosure only impacts the reckless or the unemployed? Think again.
The destruction of mortgage notes and the creation of falsified documents by "Burger King" robo-signers probably wasn't planned back in 1999. But it is still go-to-jail fraud.
We need to bite the bullet and recognize that a failure to provide principal reduction will have far more disastrous consequences than if we act sensibly and compassionately -- and soon.
Is it possible a candidate could emerge within or outside the Democratic Party who could ignite not just the true believers, but the whole country? Obama himself was once such a candidate.
In light of the latest developments regarding the loss of unemployment benefits for over four million Americans, it is vital for you to be prepared to save your home.
Today, thirty percent of home sales involve foreclosed properties. With low interest rates, there is a market for these properties. Keeping them off the market hurts would-be homebuyers.
"If at first you don't succeed, try, try again" really doesn't apply when dealing with many mortgage holders.
As I've tried to make sense of the Robo-Signing, Document-Backdating Foreclosure Scandal That Never Ends, a couple of things have popped in my head: Animal House and Alan Greenspan. Stay with me here.
The smartest investment that Wall Street made during the roaring '90s wasn't in exotic bonds or derivatives. It was in the Democratic Party, and the return was bipartisan fervor for the financial deregulation.
As if the last decade of abuse wasn't bad enough, banks are again mobilizing to screw borrowers in the pursuit of bonuses. And once again, it appears the Fed has become an accomplice to this nationwide mortgage scam.
While we welcome Bank of America's response to our two-part essay, "Foreclose on the Foreclosure Fraudsters," it does not actually respond to any of the facts or analytical points we made.
No doubt many parties share in the blame in the foreclosure crisis. But all played their roles in a context of ongoing racial segregation that greatly facilitated the fraud, deceit, and exploitation that occurred at each stage of the lending process.
Far from "delaying the inevitable" as some commentators have suggested, a national moratorium on foreclosures would force loan servicers to reevaluate their practices, and clean up the bureaucratic nightmare they now run.
Foreclosure is a wrenching personal situation for too many people. In their recent post, "Foreclose on the Fraudsters", William K. Black and L. Randall Wray do nothing to illuminate the challenges they face.
