STOP FORECLOSURE ! SELL YOUR HOME FAST!
Hello friends,
This week activity in the financial markets was shocking. The Federal Reserve and the Department of treasury are handing out approximately $200 billion per day to the money center banks in the United States. This is fine, if the government feels this will actually help the economy. But the average observer like myself needs to look at this with a very skeptical eye. After all, the United States government has continued to tell us that our country cannot afford health care for every American citizen. Yet, about $3 trillion has been spent already on government bailouts of corporations that have mishandled their financial affairs and some cases may have been fraudulent. So what’s really at hand here.
I really have to think that the United States government is simply in existence to help major corporations and major banks that are headquartered in the United States. They really is no other reasonable alternative. After all, there has been no substantial bailout of individual homeowners in United States. Not don’t get me wrong, some homeowners are at fault themselves for Conti on risky mortgages and mortgage interest rates that had almost no ceiling as they continue to adjust upwards. But big banks and financial institutions have been rescued again and again. We even see Hank Paulson, calling a meeting with worldwide bankers in an attempt to halt the mortgage crisis. So why is the government so aggressive in while leaving nothing on the table for the average American family. The backdrop here is that unemployment is at a seven-year high and by all accounts will continue to skyrocket as 2009 approaches. Yes, it seems the a global meltdown is upon us with no help inside to the individual homeowner, American families, or American workers.
Should we be mad as hell? Absolutely. But who should you be mad at? Is a Congress for allowing Fannie Mae and Freddie Mac, almost unfettered discretion in the types of loan products, but they purchase, thus allowing the financial markets to become overly aggressive with 100% financing and no money down products? Or maybe you should be upset at Fannie Mae and Freddie Mac themselves for not having the wherewithal to regulate their own conduct. Given the fact that they are government-sponsored entities, a kind of quasi corporation, they should have been looking out for the American people. But obviously weren’t.
So where does that leave you and I?
Well, if you’re one of the people, who is about to lose her home, but I’ll suggest a couple of things to you. First, if you miss the mortgage payment, contact your mortgage company immediately. As I said before, there is no one to help you. You are absolutely on your own. Speak your mortgage company and let the know the situation. Perhaps they will work with you on a payment plan, or some type of recapitalization to help you save your home.
Now, what if you can’t save your home by talking with the mortgage company and you already late by two or three months with your payments. I would suggest going to a web site such as www.cantsavemyhome.com
At least there you’ll have some hope. With Bush or McCain, there is no hope at all. That is painfully clear. Be sure to vote!!! Our economy depends on it!
HOW TO RENEGOTIATE MORTGAGE IN BANKRUPTCY
The first thing to remember when you’re trying to renegotiate your mortgage is that you’re bargaining power is somewhat decreased. If you have missed payments or in some way are in default on your mortgage it helps to be able to explain exactly why you have been late or are in default. Good reasons include medical bills, increased adjustable interest rate, paying two mortgages, or being transferred to another location for your job. If you’re paying two mortgages that may get the lender’s attention, because many people were in foreclosure these days have the same situation. That is part of a risk profile that lenders are now looking for to deny current applicants who wish to purchase homes a mortgage.
Of course it’s not your fault, if you were transferred through no fault of your own to another job. However, the fact you’ll be paying two mortgages definitely increases your risk of default on your previous primary residence. With all of this said, speak to the loss mitigation division the bank. That is currently holding your mortgage. The other ones who can deal with you directly and find a solution. They are actually a different options that you have when you are in default. You can find out on my blog as well.
I’ll write more on renegotiating your mortgage early next week. We negotiate in your mortgage when you’re in bankruptcy is especially tough, but it can be done. Speaking with you a bankruptcy trustee will be critical to renegotiating your mortgage. Of course, I’m sure you know that you don’t need a lawyer to file bankruptcy. And if you don’t have money to pay mortgage. Then you definitely don’t have money to pay a lawyer.
I’ll write more next week after a researching give you an update. God bless
Who Will Help The American Taxpayer Avoid Foreclosure?
This week so Wall Street marked the first time in America’s history that we see no one is there to help the American taxpayer. I can remember law school and going over a case one time that an American taxpayer was referred to as an “ ordinary taxpayer”. This shocked me then and it still shocks me now. The American taxpayer is central to the operation of government, the free enterprise system, the real estate markets, interstate commerce, intrastate commerce, and in fact drive the engine of the biggest economy in the world.
A severe paradigm shift is going on right now in United States. The world is watching as the United States government continues to bailout major corporations, money center banks, and insurance companies that have tried to game the system and lost. Essentially, what is happening is profits have been privatized and losses have been socialized via the United States government buying into major corporations and banks with equity stakes that are essentially free money to the corporations and banks. We have certainly begun the era of the socialization of major corporations in United States. So much for a free market economy, solving all of our ills.
Where is Larry Kudlow? He was always so eloquent in speaking about the United States free market economy, which was the envy of the world. Republicans spoke about the need for markets to regulate themselves and pull the wool over our eyes, as corporations like Halliburton, Bear Stearns, J.P. Morgan, and Lehman Brothers made obscene profits, which were distributed to shareholders directors and CEOs, while ordinary Americans saw jobs outsourced to countries like India and the Philippines. It was only of time before the effects would be felt by the American economy and the American people as results of this large outsourcing of jobs over the last 20 years. The chicken has indeed come home to roost.
What is to be done now? Are the ordinary taxpayers, fed up enough to throw out their congressmen and senators? Are they fed up enough to prevent a 27 year Republican Senator from becoming president? Are the ordinary taxpayers in United States fed up enough? We’ll find out in about 20 days. What needs to be done now, however, is a massive overhaul of the financial system in United States. That is occurring as we speak via the stock markets, dramatic decrease over the last two months. What that means for you, the average homeowner is that you must try to sell your home in a declining market, where you almost certainly lose money. All is not lost. You can go to companies like http://www.cantsellmyhome.com/ and sell your home to them. So you can get out of your mortgage and save your credit. In fact, Congress has passed legislation that will enable you to take a loss on your home and not have to pay extra taxes on that loss. This was not the case in 2007 2006 or 2005. So while you may lose your home, you will still have the ability to save your credit and perhaps salvage your dignity going forward.
When you go to http://www.cantsellmyhome.com/ on speaking with someone within two hours of your submission. You’ll get an accurate assessment of how they can help sell your home fast. They have a nationwide network of investors, real estate agents, lawyers, and CPAs, who can help you accomplish your goal. Now to be sure, you have to be open-minded. We are in a worldwide financial crisis, which calls for creative solutions between all parties in order to make your home sale goes through smoothly and without a hitch. Even when you think everything is smooth however, there may be a problem lurking in the background that you’ll never see until you have gone forward in substantial way with your home sale transaction. Don’t be afraid. They will walk you through everything, because they’ve been there many times before.
So as the election nears, and the financial crisis worsens, if you need to sell your home fast and stop the headaches of rising interest rates, perhaps a vacant home that you can’t rent, or you just tired of the headaches, visit http://www.cantsellmyhome.com/ to assess your situation. The web page is very basic but efffective. Just fill out the form and you’ll be on your way to solving your problem even if the United States government won’t help you.
I hope this is hopeful. Let’s work towards friction your problem and making life better for you and your family. God bless you and your family.
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