In response to an Activerain post this morning, here was my response. Note - the blogger was wondering if the lenders were being greedy by not working with longtime borrowers to ease the burden of their "alligator" mortgage:
Is it Greed? No. It is an economic rule that businesses fail. Little ones, and big ones. Their overall intent was not to rip people off, it was to be profitable.
However, times (and economies) change. The lenders have made billions of dollars of bad loans, and continue to do so. They are destined to fail. The real estate market continues to deleverage, the asset values continue to decline, and the burden of debt continues to rise.
The American taxpayer is about to get a very large tax bill, and they will pay it - till they can't.
Here is the question - what are you doing NOW to protect yourself? At my office, we are continuing to help as many people out of their no win mortgages as possible.
Saturday, December 31, 2011
Sunday, December 11, 2011
New Movement - "Occupy our Homes"!
National 'Occupy Our Homes' Day Kicks Off New Occupy Initiative
Courtesy Krista Franks - Default Servicing News
Last month the Occupy Oakland movement announced its intention to occupy vacant properties. On Tuesday, Occupy Oakland was one of 25 local Occupy groups to observe a national “Occupy Our Homes” day.
“This Tuesday, thousands will be standing up for their neighbors in a struggle against a system that places financial gain above the human need for shelter,” said a statement on the Occupytogether.org website prior to the event.
The statement referred to the trillions of dollars in loans the banks received from the Fed and the billions borrowed from taxpayers through TARP, and went on to say, “Homeowners take risks when buying homes; however, when they lose their jobs or are unable to afford their medical attention, they don’t get bailouts, they lose everything.”
Several Occupy movements made the first steps to occupy foreclosed homes or homes in the process of foreclosure.
Occupy Atlanta members started their day on courthouse steps in Fulton, Gwinnett, and DeKalb Counties.
“Over 200 Occupy Atlanta protesters descended on the Fulton County courthouse steps with whistles, sirens, drums, and blow-horns and made it as difficult as possible for the auction to continue,” according to the Occupy Atlanta website.
Protesters then visited the homes of two homeowners facing foreclosure to demonstrate their support and their intention to continue to occupy the homes despite foreclosure actions.
“This is only the beginning of the fight against Foreclosure and lack of housing in America,” states the Occupy Atlanta website.
Occupy Brooklyn members marched through a Brooklyn neighborhood “to liberate a foreclosed home,” according to their website.
Like the Occupy Atlanta movement, Occupy Brooklyn made it clear that this is just the beginning of a new initiative for the movement.
“This action is part of a national kick-off for a new frontier for the occupy movement: the liberation of vacant bank-owned homes for those in need,” stated a post on the Occupy Brooklyn website.
©2011 DS News. All Rights Reserved.
Courtesy Krista Franks - Default Servicing News
Last month the Occupy Oakland movement announced its intention to occupy vacant properties. On Tuesday, Occupy Oakland was one of 25 local Occupy groups to observe a national “Occupy Our Homes” day.
“This Tuesday, thousands will be standing up for their neighbors in a struggle against a system that places financial gain above the human need for shelter,” said a statement on the Occupytogether.org website prior to the event.
The statement referred to the trillions of dollars in loans the banks received from the Fed and the billions borrowed from taxpayers through TARP, and went on to say, “Homeowners take risks when buying homes; however, when they lose their jobs or are unable to afford their medical attention, they don’t get bailouts, they lose everything.”
Several Occupy movements made the first steps to occupy foreclosed homes or homes in the process of foreclosure.
Occupy Atlanta members started their day on courthouse steps in Fulton, Gwinnett, and DeKalb Counties.
“Over 200 Occupy Atlanta protesters descended on the Fulton County courthouse steps with whistles, sirens, drums, and blow-horns and made it as difficult as possible for the auction to continue,” according to the Occupy Atlanta website.
Protesters then visited the homes of two homeowners facing foreclosure to demonstrate their support and their intention to continue to occupy the homes despite foreclosure actions.
“This is only the beginning of the fight against Foreclosure and lack of housing in America,” states the Occupy Atlanta website.
Occupy Brooklyn members marched through a Brooklyn neighborhood “to liberate a foreclosed home,” according to their website.
Like the Occupy Atlanta movement, Occupy Brooklyn made it clear that this is just the beginning of a new initiative for the movement.
“This action is part of a national kick-off for a new frontier for the occupy movement: the liberation of vacant bank-owned homes for those in need,” stated a post on the Occupy Brooklyn website.
©2011 DS News. All Rights Reserved.
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