Upside Down Mortgage

Archive for September, 2007

Countrywide Predatory Lending Practices

Question: Is anyone else as frustrated with the Federal Reserve as I am?

I'm wondering if anyone else out there is as flustered and confused by our Monetary system as I am. I'm angered by the lending policies enacted by congress which only allow a bank to have 10% of the loan amount in assets -- to which I attribute to our suffering economy. Additionally, it seems they allow for predatory lending practices that apparently led to the mortgage crisis.

I'm tired of our failing dollar. And even more tired of my tax dollars being spent on corporate bailouts (CountryWide).

Does anyone else feel as I do?

Answer: Yes.

Inflation and job loss is tied to excess money (debt and currency) supply.

Most money is created via private loans. The Federal Reserve's job is to make sure the private world keeps loaning money. "Open Market Operations", "Reserve Requirements" and the "Discount Rate" are the Federal Reserves tools for keeping the money flowing. Federal injections of money (by any of these means) equate to future inflation.)

The market goes down because injections equate to inflation and the people with money to invest are concerned that future inflation (coupled with taxes) will outpace there benefits from investing in a business activity. The investors are moving to real items (such as gold).

Therefore, when the fed lowers rates, the private loans continue to shrink and jobs shrink. This is what is known as stagflation (interest rates and unemployment both increase).

Here is a good description of how the Federal Reserve manipulates the economy: http://www.a2dvoices.com/realitycheck/markets

Countrywide Predatory Lending Practices - www.lendhaven.com

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Loan Modification Companies Las Vegas

Question: NEED SOME HELP WITH A loan modification fraud CALLED PARADIGM PROPERTY?

MY MOTHER RECENTLY PAID A loan modification COMPANY 2.500$ TO HAVE HER HOUSE PAYMENT REDUCED AND THEY NOT ONLY TOOK HER MONEY BUT THEY ALSO MESSED UP HER CREDIT AND I CHECKED IN WITH MORTGAGE COMPANY AND IN THE 3 MONTHS THEY NEVER CALLED OR EVER CONTACTED HER MORTGAGE COMPANY TO ATEMP A SETTLEMENT ... WE JUST NEED TO KNOW WHO DO WE CONTACT FOR HELP WE WENT TO A LAWYER BUT HIS CHARGEING 2.200$ WERE IN LAS VEGAS NEVADA ...

Answer: Try the state Atty' generals office

What are my options for a loan modification company?

Attorney Loan Modification Processing

Question: Are we losing our home to foreclosure? Please help?

I have not paid my house bills in about 7 months and have been going through modification. I have received a few notices in the last month from my mortgage company stating the foreclosure process has begun on my house. Recently I received this message from the woman dealing with the modification:

Called your lender and was advised that the loan modification was denied due to investor guidelines. This investor does not offer loan modifications.
Saxon is going to order Attorney fee's and I h ave to call back on Monday so we can see if there is any program that can be offered through lender. This would probably be a repayment plan. I will call on Monday to find out details of repayment plan and get back to you then.
Thank you.
What does this mean? My home is going up for auction in 12 days. Am I certain to lose my home, is there any chance we'll get to stay here?
Thank you.

Answer: Unfortunately many loan modifications do not occur. In many cases the bank only services the loan but does not fund the mortgage so has to get the approval of all the investors (could be many).

Unless you become current with your payments, it is likely that your home will be foreclosed. Sorry.

Compliance Counsel Dena Roudybush-Loan Modification