Monday, February 13, 2012

Unfair Foreclosures many times start with unfair forced insurance coverage.

If you place less than a 20% down payment on you home, you could be forced to buy PMI insurance, (private mortgage insurance). Not only does the PMI monthly premium cost add an extra cost to your monthly mortgage payment, if you get into a car accident, even if you are not at fault, and miss work as a result and fall behind on your mortgage, the bank can file a claim against your PMI! 

Once the bank files a claim against your PMI, they can refuse any future mortgage payments from you, and then foreclose on your home. Like they did to this family.

Tuesday, February 7, 2012

3 years into Obama's first term and NO CHANGE in the foreclosure rate.

The solution to lowering foreclosures was simple. Calculate a homeowners monthly overhead based on a 4% mortgage rate and all of their credit card debt at 9.99%. If those two interest rates put a homeowner into the black, and they agree to NOT run up more credit card debt, then they get those two interest rates.

That's all that had to be done, and Obama refused to do it, making him a fraud and those in the media who chose Obama over Hillary Clinton, it's on your head and I hope one day you get yours, you certainly deserve it.

Instead, the foreclosure rate has not changed during Obama's term, and ironically, interest rates are heading downwards anyways.

You are viewing UnFair Foreclosures blog. Please check out Parallel Foreclosure blog and Swarm the Banks blog as well.

Wednesday, January 11, 2012

Here is an example of a Foreclosure Concern Troll response left in the comments section of a San Francisco Weekly Foreclosure story.

Here is a classic example of a Subprime Mortgage Foreclosure Concern Troll comment from the comments section of a Foreclosure article in the San Francisco Weekly. See if you can spot the bullshit.  

"I bought a house with a interest only ARM, There was no bait and switch. I knew exactly what I was getting into. I read the paperwork, I knew the risks. Is it partially the banks fault....for sure.
 They know the risks for the people taking out the loans and shame on them for creating such products as interest only ARMs and the like. But shame on the people taking out the loans for not understanding what they were getting into.  
I was fortunate enough to sell my home before it lost value and before I started paying the principal. I had I stayed in that area longer, I would have been screwed. It would have been my own fault for putting myself in the situation.  Live and learn and I won't by another home until I can put a good amount down and get a standard loan. 
Further, I have no animosity towards my neighbor. I'm just tired of people not taking responsibility for their own actions. I got a degree in Sanskrit and I can't find a job.....someone else's fault.  I had to compete with the Jones' and max out my credit cards, took out a home loan I couldn't afford and lived outside of my means.........not my fault. Its the American way. Which of course detracts from those who REALLY are in need."
In case you did not spot the concern troll bullshit, it basically comes down to this, "It's me, not the banks, the bankers, or wall street that did wrong". And the comment was left by "anonymouse" (yes, spelled with the word mouse.

I suggest studying the tone of the concern troll method, Barack Obama's side used concern troll tactics in 2008 to try and quell Hillary Clinton supporters.

You are viewing UnFair Foreclosures blog. Please check out Parallel Foreclosure blog and Swarm the Banks blog as well.