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Question: Why Did The Bond Rating Agencies Lie Like a Dog Throughout the Subprime Fraud to Give AAA Ratings to ?

mortgage backed securities so that the Wall Street boys could get rich off them and now suddenly decide to crash the market by lowering the ratings on General Motors? Were they suddenly struck down on the road to Wall Street and told to tell the truth for once?
This is beginning to smell more and more like a planned crash with Paulson at the controls.
Do you agree? Remember that Paulson's mentor was John Erlichman of Watergate fame.
Paulson is about as much of a democrat as I am a Russian helicopter pilot. but this was not a political question you numbskull
This question is above your pay grade, all three of you.

Answer: I was listening to NPR the other week and on one of the shows they were talking about this very subject. Apparently, these Wall Street geniuses genuinely thought they had just reinvented the wheel by creating MBSs. Somehow bond raters agreed and assigned their credibility to the MBSs with the AAA stamp. Either everyone involved was either delusional about the underlying facts of these securities or there was some dark conspiracy where everyone involved was able to keep total secrecy, which isn't totally out of the question.

Humans are fallible and not everyone can keep secrets, so I'm going to go side with "delusional about the facts."

Frederic talks about mortgage fraud and loan modification scams

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Mortgage Fraud Alert System

Setting the Record Straight Might Not Be All That Easy - or Quick!

Setting the record straight is the tip of a nightmarish iceberg that can take months - even years to accomplish - often with undue pain and suffering for the victim. In serious cases victims spend an average of 600 hours and $1,400 in out-of-pocket expenses to repair their credit. Until they can prove their innocence, they are more likely to be:

• charged higher rates for insurance and fees for credit cards,
• rejected for student loans or home mortgages,
• arrested for crimes they did not commit.
• unable to get or keep a job,

A Call From A Collection Agency Or A turndown For A Loan Is Often the Only Tip-off That Your Identity Was Stolen.

A thief needs only one thing to open the doors to his windfall - your Social Security number. Unfortunately it is routinely used by government agencies, health care providers, utility companies, merchants, employers, and financial institutions. Often, your Social Security number is publicly available. That's how General John M. Shalikashvili, the former Chairman of the Joint Chiefs of Staff, became a victim. His Social Security number and those of many other military officers were published in the "Congressional Record" and were later posted on the internet. Thieves used their identities to open 273 new credit cards accounts and run up a bill of over $200,000.00 in charges.

 Develop a Form of Defense ASAP

To stop identity thieves in their steps, there are several things you can do. You can begin by freezing access to your credit file. By doing so, you cause your file to become off-limits to anyone who does not know the secret PIN (Personal Information Number) of your choosing. This sets the wheels in motion to protect you from the bad guys - anyone who attempts to apply for credit in your name. It causes their application to be rejected; although your credit cards won't be affected. And if you want to apply for new credit or let a bank, store, or agency run a background check on you, you can get a credit thaw. For example, if you decided to shop for a big-ticket item, like a car, you might thaw your history for auto dealers.

 Starting NOW!

• Periodically check your credit report for suspicious activities. Americans are now entitled to a free annual credit report from each of the three bureaus: Experian, Equifax, and TransUnion.
• If you elect to shop online, use a credit card rather than a debit card. With a credit card, you have the extra protection of maximum liability of $50.00 for unauthorized purchased.
• Learn more about "phishing" email scams, and other schemes, frauds, and cons to separate you from your identity and your money. For more information about these scams and about resources at your disposal, go to www.ProtectingYourIdentity.blogspot.com

In the Event You Do Become A Victim

 Here are some steps you could take:

• Act fast and prepare yourself for an uphill battle uncooperative and unsupportive credit card and law enforcement agencies. For guidance and support, I suggest that you turn to organizations and agencies like ITRC (www.identitytheftcenter.org), the Federal Trade Commission (www.FTC.gov)
• Call the fraud dept. of one of the three credit bureaus, Experian, Equifax, and TransUnion, and request that a fraud alert be placed on your credit reports. (The other two credit bureaus will automatically be notified.) The alert lasts for 90 days and requires creditors to call you before opening new accounts in your name; however, a word of caution is in order here. There are no legal requirements to honor alerts and merchants who are eager to make a sale may ignore them.
• Close your credit card accounts and change the passwords on all your financial and banking accounts.

Conclusion:

Let's face it, identity theft is a growing problem affecting everyone in some way or another. With the increase popularity of internet usage, it has become easier for cybercriminals to steal our identity.

About the Author:

Misael Lives in Utah and has a family of 4 he's background in The Identity Theft Shield Task Force, Hospitality, Telemarketing, Sales executive,and PPL Independent Associate allows him to help hunderds of people with their legal needs every year.
http://www.couponavatar.com

Article Source: ArticlesBase.com - Identity Theft Shield Yourself

General Credit & Loan Information : How to Monitor Credit

Mortgage Fraud Nj

Short sales in New Jersey can give home and property buyers an excellent bargain. Short sales are given away by their prices, when they seem far too low for the value of the property. This might be kind of difficult to tell in today's de-valuation of property, but simply compare that property to other similar ones in the area to see if it could be a short sale or not. A question to the agent who lists the property will reveal for sure whether or not the properties you're looking at are short sales in New Jersey, or if the prices are low for other reason like the need for repairs or poor location.

While short sales in New Jersey are designed to sell fast for less than the value of the property, sales don't always run as smooth as that. Consider that the lender is probably unhappy about the short sale, and the homebuyer who can no longer make the mortgage payments came into the idea in a state of need. When short sales in New Jersey take place, that means that the buyer can't make the payments and has convinced the lender to sell the property for less than its value. This helps the lender sell the home to someone who will make payments, and can help keep the buyer from being foreclosed upon or having to file bankruptcy, if that's even possible.

The first thing to remember about short sales in New Jersey is that the price that's offered is usually pretty close to the price the lender expects to get. So low-ball offers will probably be rejected summarily. And short sales in New Jersey aren't always because the buyer can't pay. It could be a case of the property being over-valued originally, or that the value has dropped, even while the buyer is current.

It's important before you consider buying short sales in New Jersey that you know the history of the property. Look through public records to discover who the titleholder is, whether a foreclosure has been initiated and how much money is owed on the property. Having this knowledge, especially about how much is owed, can give you the upper hand when making offers to the lender. In cases where there are two loans on that property from two mortgage lenders your offer will need to be higher in order to make it work, so you may want to look at other short sales in New Jersey for better bargains.

You'll want an agent working for you that's handled many short sales in New Jersey to avoid the things that can drag down negotiations and closings, and make sure you get the proper follow up throughout the whole process. And an experienced agent can help protect you from short sale scams, like the home buyer who's behind on the mortgage payments insisting that you must pay him or her a fee in order to be able to purchase the short sale, which is fraud. Get a good agent and protect yourself when buying short sales in New Jersey.

About the Author:

To learn more about short sales in New Jersey and
New Jersey Real Estate
please visit virtualrealestatemall.com

Article Source: ArticlesBase.com - Buying Short Sales in New Jersey

(part 1 of 4) NJ Haddon Heights Mayor Alexander 9/1/09