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.