PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is

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nativelasvegan

Guest
I am still trying to figure out why it is in the bank's best interest to foreclosure versus modifying loans. A lot of this stuff is really confusing, but I am beginning to see this picture a little clearer. In researching Fannie Mae and the role it plays in my journey, I came across a very interesting article. Although it was written years ago, it is very good. The fact that it was written years ago is even more interesting that the impending doom was seen by a lot of people and simply ignored.

What Does Fannie Mae Do?
 
THANKS2U

THANKS2U

LoanSafe Member
Here we go RIGGED REVERSE RENTALS, as I like to say

The Abusive Corrupt Criminal Banking Institutions, including Fannie Mae, now become your LANDLORDS -

And you rent your own home with no modification help.

Rent cost ? who knows whatever they want.

You have No Rights & No Tax write offs, which means you wil now be paying higher income taxes.

WHAT A HUGE MONSTEROUS MESS !

This is the future for many - NO MODS FOR YOU - YOU ALL RENT NOW

http://www.nytimes.com/2009/11/06/business/economy/06fannie.html?partner=yahoofinance

GREEDY SELF SERVING SWINDLING BAASTARDS

This is like STALINS RUSSIA
 
B

bloominga

Banned
Just like a chop shop but LEGAL!!! This is really getting to be too much to absorb at one time. I'm going to have to save these links and 'savor' a couple at a time!!!
 
A

ama125

LoanSafe Member
THANKS2U said:
Here we go RIGGED REVERSE RENTALS, as I like to say

The Abusive Corrupt Criminal Banking Institutions, including Fannie Mae, now become your LANDLORDS -

And you rent your own home with no modification help.

Rent cost ? who knows whatever they want.

You have No Rights & No Tax write offs, which means you wil now be paying higher income taxes.

WHAT A HUGE MONSTEROUS MESS !

This is the future for many - NO MODS FOR YOU - YOU ALL RENT NOW

http://www.nytimes.com/2009/11/06/business/economy/06fannie.html?partner=yahoofinance

GREEDY SELF SERVING SWINDLING BAASTARDS

This is like STALINS RUSSIA
Click to expand...
If I ever need to tell someone off, I'm contacting you to do the job! ;)
 
N

nativelasvegan

Guest
I agree ama. And I thought I had a temper. I like it. Like my son sometimes says. There's something odd about you................ and I like it! HA!
I posted earlier about this crap. I do believe my response was "when pigs fly." Like I would pay Fannie Mae to rent my home at 31% of income. F fannie mae and the banksters who service their loans.
 
davephx

davephx

LoanSafe Member
For some folks the rental makes transition easier if they do not qualify for HAMP or alternatives. The report is clear that only a small number will participate in this program.

It is an alternative to, not to replace mods
 
S

so-cal-gal

LoanSafe Member
nativelasvegan said:
I am still trying to figure out why it is in the bank's best interest to foreclosure versus modifying loans. A lot of this stuff is really confusing, but I am beginning to see this picture a little clearer. In researching Fannie Mae and the role it plays in my journey, I came across a very interesting article. Although it was written years ago, it is very good. The fact that it was written years ago is even more interesting that the impending doom was seen by a lot of people and simply ignored.

What Does Fannie Mae Do?
Click to expand...
The pooled, securitized notes that have investor-purchased insurance are a motivating factor in many foreclosures. It may even prove to be the motivating factor behind the reneged (breached) loan modification contracts that were issued by CW/BofA.
 
THANKS2U

THANKS2U

LoanSafe Member
davephx said:
For some folks the rental makes transition easier if they do not qualify for HAMP or alternatives. The report is clear that only a small number will participate in this program.

It is an alternative to, not to replace mods
Click to expand...
The report is clear that this is ONLY the beginning

Thier leasing program wil grow like a cancer and spread out far and wide and will be a BIG not a small part of how the servicers will try to evade doing modifications.

Just another ruse, a defrauding tactic to fool more distressed borrowers who would actually qualify for HAMP or in house mods.

Yes, I agree a small percentage will truely benefit from the leasing program.

My concern is that the servicers will use this leasing option to inflict FAR more harm than good and will manipulate suffering upon qualifying modifications, which will be evaded by the servicers through this leasing scam...
 
THANKS2U

THANKS2U

LoanSafe Member
ama125 said:
If I ever need to tell someone off, I'm contacting you to do the job! ;)
Click to expand...
LOL : ):D It would be my pleasure AMA:)

Thank you for the compliment

Hope all is going well with you and your family

And thank you for all your hard work and dedication

Appreciatively,

Thanks2U
 
davephx

davephx

LoanSafe Member
On another thread there is a good example of where the lease back may help someone who has a 1200+/month HOA fee which is about twice her piti as I recall.

On the other hand they may lease back with enough rent that covers it...
 
THANKS2U

THANKS2U

LoanSafe Member
davephx said:
On another thread there is a good example of where the lease back may help someone who has a 1200+/month HOA fee which is about twice her piti as I recall.

On the other hand they may lease back with enough rent that covers it...
Click to expand...
Very good point davephx !

Then the lender would need to pay that large 1,200 HOA

I think that is Quazyquazy in Florida who is paying that high HOA fee

Thanks
 
THANKS2U

THANKS2U

LoanSafe Member
Professor: Fear, Shame Keep Homeowners From Defaulting | UANews.org


Professor: Fear, Shame Keep Homeowners From Defaulting | UANews.org


Feel no shame feel no blame it is all a game to the defrauding banks




There is NO WAY I would walk away. Not unless I was literally forced to do so by the sheriff in town.

This is my home.

We all have been ILLEGALY defrauded, manipulated and discriminated against.

I think the article is correct about not feeling any shame or blame for what the Banking Institutions INTENTIONALLY CAUSED.

The shame and blame and legal responsibility needs to be put back where it belongs, on the Banking Institutions and our bamboozled government, who MUST FORCE these corrupt BANKS, SERVICERS and INVESTORS, to be made accountable and do the right thing and make everyone whole again, by making our mortgages affordable - PERIOD !

My slogan is

WE WILL NOT WALK AWAY THE BANKING INSTITUTIONS MUST PAY !<!-- google_ad_section_end -->
 
D

dthom

LoanSafe Member
Well said and Amen to that, Thanks2U! :D
 
MyHAMP

MyHAMP

LoanSafe Member
THANKS2U said:
WE WILL NOT WALK AWAY THE BANKING INSTITUTIONS MUST PAY !<!-- google_ad_section_end -->
Click to expand...
Especially since THEY already GOT PAID for the MESS THEY MADE!:mad:
 
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