Everyone from your brother to your brother’s girlfriend’s mother had their real estate license and was selling over priced homes and pitching toxic 100% subprime adjustable rate mortgages to family members and friends. The typical qualifying procedures seemed to be the blow on the glass technique. “Do you need a loan?”, “Great blow on this glass here and if it fogs and we show that you do have a pulse, then we will lend you $500,000.”
Now with 80% of the mortgage brokers are out of business (including your brother and his girlfriends mother) and most the lenders are out of business, there is no where to turn for these people who just want to save their homes and pay their bills. Multiply that by tens of thousands of people who all have lives, families, jobs, and credit cards. Most of these borrowers are sinking in a hole of quick sand and they are reaching out for help and it only seems like they are getting further pushed under by their lenders and by our government who has really done nothing to help people facing foreclosure because of predatory lending and just bad business.
We are in the midst of the biggest Home Loan Failures in our country’s history. This isn’t just a failure but something that can lead into a national economic crisis and quite possibly a world economic crisis. If something isn’t done to modify these ARM’s by the thousands, then it will only get worse. The Fed lowering rates will do no good for these people. It will only benefit the guys on Wall Street and haven’t they made enough money off of these subprime mortgages that they bundled up and sold to unsuspecting investors all over the world? Now, they want government to save their butts when people are losing their homes daily and they sit in plush offices and eat dinner in high price restaurants and then retire to their multi-million dollar lofts.
What’s wrong with this picture? Everything!
Foreclosures are already up 93% from a year ago. 9% up from just last month. 179,600 homes are in default according to Realty Trac. Moody Economy predicts 2.5 million defaults in the next year and it all correlates to the deep problems that we are having with the mortgage industry and Wall Street.
What’s it going to take to bring everyone together and force these lenders and the SEC to place mandatory loan modifications for “ALL BORROWERS” in these adjustable rate mortgages? This is the ONLY solution to help stop foreclosure and save our economy and quite possibly the worlds.
I’m just one man with a plan. I have a solution to unite everyone at one website. One forum where everyone can share their story about these toxic ARM’s, foreclosures and loan modifications. Learn and meet other people who are trying to save their homes and read their stories of dealing with their lender. I invite non-profits and media to join also and discuss solutions and read the stories that are being posted.
The name of the website/forum is www.LoanSafe.org. Please come check out my new community where we help people which need help and we talk about solutions! Together we can create an army and fight for change!
For Help or Media, please call or email me:
Moe
Founder
LoanWorkout.org
LoanSafe.org
951-271-6283 Phone
Moe at LoanSafe.org Email
{ 1 comment… read it below or add one }
Tramadol.
Tramadol.