Comments on: The Coming Foreclosure Flood http://www.thenationalpolicyinstitute.org/2010/02/19/the-coming-foreclosure-flood/ Official Web site of the National Policy Institute Wed, 08 Feb 2012 21:47:43 +0000 http://wordpress.org/?v=2.5.1 By: zz top http://www.thenationalpolicyinstitute.org/2010/02/19/the-coming-foreclosure-flood/#comment-37880 zz top Mon, 01 Mar 2010 03:51:37 +0000 http://www.nationalpolicyinstitute.org/?p=8227#comment-37880 Sound money will go a long way toward fixing our current mess. This mess has brought down home prices. ==> Fannie, Freddie and FHA are nearly 100% of the mortgage market these last 2 years. Nationalize? Nationalized? Central Bank creation of debt (pretending to be money; see: "Money as Debt" "MoneyMasters" "Ron Paul sound money" "Dishonest Money, Honest Money") always hits a limit of the ability to pay. Central control of government always over time, favors government. Central Bank creation of debt (pretending to be money) always hits a limit of the ability to pay. Central control of money always over time, favors Banks. Bankers can fool all their customers some of the time. Bankers can fool some of their customers all of the time. But Banker can not get repaid all the time; then they become the fools. ---- Read history of banking. ====== To Big To Succeed ======== ====== To Big To Fail. ========= ====== Prudential buys Asian piece of AIG this week for $25 Billion. ====== AIG drove straight to bankruptcy. Before our very eyes, US grabbed it. Private Central Bank orders US taxpayer to pay tipsy riverboat gambler bets (Goldman, Morgan, Soc Gen, et al). Taxpayer pays gamblers 100%. $200 Billion later, Congress (Noun, synonym: progress) investigates without investigators (Noun, homonym: alligators; also see: Warren Commission, Savings and Loan Commission, 911 Commission or “no alligators”). No trial. Rinse, spin and do it all over again Sound money will go a long way toward fixing our current mess.

This mess has brought down home prices.

==> Fannie, Freddie and FHA are nearly 100% of the mortgage market these last 2 years. Nationalize? Nationalized?

Central Bank creation of debt (pretending to be money; see: “Money as Debt” “MoneyMasters” “Ron Paul sound money” “Dishonest Money, Honest Money”) always hits a limit of the ability to pay.

Central control of government always over time, favors government.

Central Bank creation of debt (pretending to be money) always hits a limit of the ability to pay.

Central control of money always over time, favors Banks.
Bankers can fool all their customers some of the time.
Bankers can fool some of their customers all of the time. But Banker can not get repaid all the time; then they become the fools. —- Read history of banking.

====== To Big To Succeed ========
====== To Big To Fail. =========
====== Prudential buys Asian piece of AIG this week for $25 Billion. ======

AIG drove straight to bankruptcy. Before our very eyes, US grabbed it. Private Central Bank orders US taxpayer to pay tipsy riverboat gambler bets (Goldman, Morgan, Soc Gen, et al). Taxpayer pays gamblers 100%.
$200 Billion later, Congress (Noun, synonym: progress) investigates without investigators (Noun, homonym: alligators; also see: Warren Commission, Savings and Loan Commission, 911 Commission or “no alligators”).

No trial. Rinse, spin and do it all over again

]]> By: Sharon http://www.thenationalpolicyinstitute.org/2010/02/19/the-coming-foreclosure-flood/#comment-37855 Sharon Sun, 28 Feb 2010 20:20:53 +0000 http://www.nationalpolicyinstitute.org/?p=8227#comment-37855 It's nothing to do with "buying a house" but it's everything to do with "being sold into a mortgage debt". Las Vegas prices were down, now they're showing a small spike, some sellers trying to get better prices, starting to overprice for the cash investors and requiring buyers to return to banks and thus to mortgage financing again. So the agents are less busy trying to unload cheapie specials and more concerned about turning over buyers to the clutches of mortgage financiers, the banks, once again. I hope there are more REOs and short sales and it drives the market back down to where the average person can afford to buy a house to live in instead of for "investment purposes" as has been the case for a good ten years before this whole collapse began. What a scam. Nothing to do with "buying a house". Talk to the agents and they're more than happy to "sell you into the bondage of a bank mortgage". That's all they're concerned with, convenient tools for the bankers. It’s nothing to do with “buying a house” but it’s everything to do with “being sold into a mortgage debt”.

Las Vegas prices were down, now they’re showing a small spike, some sellers trying to get better prices, starting to overprice for the cash investors and requiring buyers to return to banks and thus to mortgage financing again.

So the agents are less busy trying to unload cheapie specials and more concerned about turning over buyers to the clutches of mortgage financiers, the banks, once again.

I hope there are more REOs and short sales and it drives the market back down to where the average person can afford to buy a house to live in instead of for “investment purposes” as has been the case for a good ten years before this whole collapse began.

What a scam. Nothing to do with “buying a house”. Talk to the agents and they’re more than happy to “sell you into the bondage of a bank mortgage”. That’s all they’re concerned with, convenient tools for the bankers.

]]> By: MK http://www.thenationalpolicyinstitute.org/2010/02/19/the-coming-foreclosure-flood/#comment-37591 MK Sat, 27 Feb 2010 01:48:12 +0000 http://www.nationalpolicyinstitute.org/?p=8227#comment-37591 Dear National Policy Institute, THiS IS UNCONSCIONABLE AND SHOULD NOT BE ALLOWED. THE TARP MONEY WAS USED TO PAY OFF ANGRY BANKERS IN OTHER COUNTRIES FOR DERIVATIVES THAT GOLDMAN SACHS KNEW WERE GARBAGE TO BEGIN WITH. Foreclosures simply torpedo home values and put families into the street. That doesn't help anybody. State legislatures should be calling for a moratorium. MK Dear National Policy Institute,

THiS IS UNCONSCIONABLE AND SHOULD NOT BE ALLOWED. THE TARP MONEY WAS USED TO PAY OFF ANGRY BANKERS IN OTHER COUNTRIES FOR DERIVATIVES THAT GOLDMAN SACHS KNEW WERE GARBAGE TO BEGIN WITH.

Foreclosures simply torpedo home values and put families into the street. That doesn’t help anybody. State legislatures should be calling for a moratorium.

MK

]]> By: DoctorD http://www.thenationalpolicyinstitute.org/2010/02/19/the-coming-foreclosure-flood/#comment-37520 DoctorD Fri, 26 Feb 2010 17:29:22 +0000 http://www.nationalpolicyinstitute.org/?p=8227#comment-37520 I find it unusual that no one talks of the inequity of housing lending. If I buy a stock, a piece of real estate, an ounce of gold, or pretty much anything as an investment, I risk my investment based on what others think it is worth. Why is anyone who borrows on a home, not an investment, but a necessity, demonized when they can't see their way clear of the costs of home ownership after their house's value drops, their 401k drops, and 20% of their neighbors lose their job and can't pay their mortgages furthering the downward spiral. For banks, the security of the investment itself, the house, is not enough. They want it both ways. They want to own YOU not just the paper in the deal. Either you pay the bank in full so they don't lose anything, or you lose by by paying more for everything that is tied to your credit score. You may even owe taxes on the GAIN you RECIEVE when you are losing everything. Then of course the bank may sue you for the loss. I wish I could do that when my stock investment goes down, or when my gold investment goes down. The banks write the loss off of their books. But when I sell my house for less than I paid, I get nothing. We won't even go into the bank bailouts. Something definatley needs change here. We as housing borrowers (personally) are being used to hedge the bank's increasingly risky investments in the stock bubble and other "opportunities" that they create. Sorry for stepping on toes. You know who you are. I find it unusual that no one talks of the inequity of housing lending. If I buy a stock, a piece of real estate, an ounce of gold, or pretty much anything as an investment, I risk my investment based on what others think it is worth. Why is anyone who borrows on a home, not an investment, but a necessity, demonized when they can’t see their way clear of the costs of home ownership after their house’s value drops, their 401k drops, and 20% of their neighbors lose their job and can’t pay their mortgages furthering the downward spiral. For banks, the security of the investment itself, the house, is not enough. They want it both ways. They want to own YOU not just the paper in the deal. Either you pay the bank in full so they don’t lose anything, or you lose by by paying more for everything that is tied to your credit score. You may even owe taxes on the GAIN you RECIEVE when you are losing everything. Then of course the bank may sue you for the loss. I wish I could do that when my stock investment goes down, or when my gold investment goes down. The banks write the loss off of their books. But when I sell my house for less than I paid, I get nothing. We won’t even go into the bank bailouts. Something definatley needs change here. We as housing borrowers (personally) are being used to hedge the bank’s increasingly risky investments in the stock bubble and other “opportunities” that they create. Sorry for stepping on toes. You know who you are.

]]> By: Byzcat http://www.thenationalpolicyinstitute.org/2010/02/19/the-coming-foreclosure-flood/#comment-37467 Byzcat Fri, 26 Feb 2010 13:23:14 +0000 http://www.nationalpolicyinstitute.org/?p=8227#comment-37467 Blame Bush...blame Cheney...blame Obama...blame Clinton... How about everyone take a deep breath and realize that this is about old-fashioned greed and mendacity at many levels -- personal and society wide, and about a system that has grown so complex that seemingly insignificant changes (such as the Clinton Admin requiring banks to extend credit to non-credit worthy folks) have unexpected and dramatic consequences. The Republic is dead. Long live the Republic... Blame Bush…blame Cheney…blame Obama…blame Clinton… How about everyone take a deep breath and realize that this is about old-fashioned greed and mendacity at many levels — personal and society wide, and about a system that has grown so complex that seemingly insignificant changes (such as the Clinton Admin requiring banks to extend credit to non-credit worthy folks) have unexpected and dramatic consequences. The Republic is dead. Long live the Republic…

]]> By: Richiemagoo http://www.thenationalpolicyinstitute.org/2010/02/19/the-coming-foreclosure-flood/#comment-37415 Richiemagoo Fri, 26 Feb 2010 03:35:11 +0000 http://www.nationalpolicyinstitute.org/?p=8227#comment-37415 In '01 I took a SMALL mortgage for a place (28 acres of rural land) I could afford & put a used mobile home on it. Paid off the mortgage in 5 years, although for the last decade I haven't earned over $20K a year. I am now debt-free and can live on a few hundred dollars a month. I save half of my inome and thus have a nice pile of cash. I can grow plenty of food on my land and raise cattle and chickens. The coming depression will be a boon for me. Friends and relatives made fun of me 10 years ago as they were riding high and taking on debt to buy luxuries. They're not laughing any more, as most have lost their houses and all they owned. Live responsibly and within your means and you will prosper.(Even when Uncle Sam is trying to take the fruit of your dilligence to pay for your neighbor's misdeeds and irresponsibility). Get out of the system! Don't work in situations where they will take taxes out of your pay before you even see it. Don't go into debt for ANYTHING! You can live well on very little money without the burden of high taxes and interest, in the right places. In ‘01 I took a SMALL mortgage for a place (28 acres of rural land) I could afford & put a used mobile home on it. Paid off the mortgage in 5 years, although for the last decade I haven’t earned over $20K a year. I am now debt-free and can live on a few hundred dollars a month. I save half of my inome and thus have a nice pile of cash. I can grow plenty of food on my land and raise cattle and chickens. The coming depression will be a boon for me. Friends and relatives made fun of me 10 years ago as they were riding high and taking on debt to buy luxuries. They’re not laughing any more, as most have lost their houses and all they owned. Live responsibly and within your means and you will prosper.(Even when Uncle Sam is trying to take the fruit of your dilligence to pay for your neighbor’s misdeeds and irresponsibility). Get out of the system! Don’t work in situations where they will take taxes out of your pay before you even see it. Don’t go into debt for ANYTHING! You can live well on very little money without the burden of high taxes and interest, in the right places.

]]> By: SummerRain http://www.thenationalpolicyinstitute.org/2010/02/19/the-coming-foreclosure-flood/#comment-37375 SummerRain Thu, 25 Feb 2010 22:24:15 +0000 http://www.nationalpolicyinstitute.org/?p=8227#comment-37375 Thank you for getting this information out cause the mainstream media is not warning us. Wait until the commerical property (& malls) starting folding this year. It's going to be ugly. With riots in Greece & Iceland, it's only a matter of time when foreclosures come to America & then there will be major problems. After this happens, what's next in America? If ur interested, there is a new book just out about a small town that finally stands up to federal tyranny (corrupt politicians, loss confidence in our govt. ) & ends up starting the 2nd American Revolution. I only recommend it cause it could happen when Americans get enough of high taxes & govt. tyranny (American Revolution). It's a great read for what's coming in 2010. www.booksbyoliver.com Thank you for getting this information out cause the mainstream media is not warning us. Wait until the commerical property (& malls) starting folding this year. It’s going to be ugly.

With riots in Greece & Iceland, it’s only a matter of time when foreclosures come to America & then there will be major problems. After this happens, what’s next in America?

If ur interested, there is a new book just out about a small town that finally stands up to federal tyranny (corrupt politicians, loss confidence in our govt. ) & ends up starting the 2nd American Revolution.

I only recommend it cause it could happen when Americans get enough of high taxes & govt. tyranny (American Revolution). It’s a great read for what’s coming in 2010.
http://www.booksbyoliver.com

]]> By: Mark Sivad http://www.thenationalpolicyinstitute.org/2010/02/19/the-coming-foreclosure-flood/#comment-37335 Mark Sivad Thu, 25 Feb 2010 15:59:40 +0000 http://www.nationalpolicyinstitute.org/?p=8227#comment-37335 Good cheap livin' ahead! Good cheap livin’ ahead!

]]> By: rich http://www.thenationalpolicyinstitute.org/2010/02/19/the-coming-foreclosure-flood/#comment-37331 rich Thu, 25 Feb 2010 13:55:19 +0000 http://www.nationalpolicyinstitute.org/?p=8227#comment-37331 if we can get rid of property taxes mixed in with the mortgages, maybe we'd have half a chance of staying afloat. there's a move here in pennsylvania to do just that. check out their site at grandoldusa.com they seem to have their act together and possibly the legislators will give heed. youtube.com/goldieshome goldieshouse.piczo.com if we can get rid of property taxes mixed in with the mortgages, maybe we’d have half a chance of staying afloat. there’s a move here in pennsylvania to do just that. check out their site at grandoldusa.com they seem to have their act together and possibly the legislators will give heed. youtube.com/goldieshome goldieshouse.piczo.com

]]> By: Gina D'Abruzzo http://www.thenationalpolicyinstitute.org/2010/02/19/the-coming-foreclosure-flood/#comment-37320 Gina D'Abruzzo Thu, 25 Feb 2010 11:07:14 +0000 http://www.nationalpolicyinstitute.org/?p=8227#comment-37320 Housing will break the bank... as your Media & talking Political heads keep saying we are recoverying ??? To bad Government is SOOO Big, because instead of saving Americans they saved the Slave Master... BIG BANKS. When the people hit the streets like they are in Greece....Our Government again, will protect the Banks...Not the people. Look right now these banks don't have standing Armies......but, as most governments our Government will protect these Leeches...if they wanted too they could just tell the banks take a hike & leave our shores & the debt??? Forget about it, let those that gave the money, lose the money..that is their risk not ours.......We could burn down the banks, it might just come to that if we are to survive.......If we don't burn down the banks, then Slavery will be were your pay check if you are employed will be the Governments..A 4 trillion debt even if you paid a Billion dollars a day means 1460 years to pay it back.... Housing will break the bank… as your Media & talking Political heads keep saying we are recoverying ??? To bad Government is SOOO Big, because instead of saving Americans they saved the Slave Master… BIG BANKS. When the people hit the streets like they are in Greece….Our Government again, will protect the Banks…Not the people. Look right now these banks don’t have standing Armies……but, as most governments our Government will protect these Leeches…if they wanted too they could just tell the banks take a hike & leave our shores & the debt??? Forget about it, let those that gave the money, lose the money..that is their risk not ours…….We could burn down the banks, it might just come to that if we are to survive…….If we don’t burn down the banks, then Slavery will be were your pay check if you are employed will be the Governments..A 4 trillion debt even if you paid a Billion dollars a day means 1460 years to pay it back….

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