While we continue to make every effort to bring you a view into the brazen, unapologetic, predatory lending practices that have caused the Foreclosure Crisis in our weekly series, Thursday Perp Walk: Lifestyles of the Charged, Tried and Convicted, your about to see the lengths that Mortgage Lenders and Wall Street went to in the name of GREED.
Once there’s a full telling of this story you’ll begin to see the complicity between Wall Street, Washington D.C., State Governments and Law Enforcement, from the profits that motivated greater feats of fraud to the failure of your elected officials compromised by campaign donations; and how they all failed to protect the American Dream.
If you’ve read the following posts, you’ll see the enormous opportunity developed by savvy real estate investors who exploit the financial distress experienced by homeowners in foreclosure.
But we’ll leave you to ponder this one point;
Whose fault is it when the problem for a home owner begins with their mortgage? Or is it just easier to blame the victim?
Those that do will regret their lack of intellectual honesty when it happens to their friend…or to their parents…or to their children…or to THEM.
(There’s no help coming for Brooklyn…so it’s time to help ourselves.)
The video below will reveal the enormity of how Wall Street money, Financial Engineering and a Poor Regulatory Environment created the mess you or someone you know is currently in.
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Yes. They stamped stupid on my forehead causing me to lose my life savings with a heavy down payment and payments I never could keep up with. Now they want to modify. I have nothing left. What can I possibly modify with.They took everything. And now I’m suppose to deal with crooks.
I’ve met a lot of home owners in steve’s shoes, and have had the unfortunate responsibility of arranging short sales to mitigate a complete loss in order to achieve a letter of satisfaction for the mortgage defaulting homeowner.
What I hope Steve and other homeowners in his position will discover is that they do have legal recourse.
There’s just no value in promoting the advocacy available to them.
I’ve had to go to extreme methods to keep existing home owners in their property by arranging structured short sales that will give them a chance to recapture their home.
Unless we begin to carefully examine the cozy relationships that politicians and special corporate interests have, we’ll just be waiting for the next financial disaster to occur.
And in my opinion it may be FHA, the Federal Housing Authority (can we really keep insuring all of these mortgages)
Your heard it hear first….FHA Mortgages is the NEW Sub Prime.
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