Disappearing American Culture: Our Imminent Social Apocalypse

Peter Schiff Tells 1000 Mortgage Bankers They Will Be Jobless

In 2006 Peter Schiff tells over 1000 mortgage brokers they are about to be out of jobs. Watch how he completely nails the coming real estate/mortgage debacle before anyone else even realized it was coming.

via creditor.1441.org

They're All Whores: Citi, AIG, Wells Fargo, Bank of America~And Congress Is Their PIMP

by SocialApocalypse.com

Lenders and servicers are playing a great "Poker Game" and trying to squeeze the last possible penny out of our government, the borrowers AND the investors. They are self-serving banking whores that are milking this country dry. The "Home Affordable Program" with all of it's problems, is NOT about people getting a bunch discounts on their homes. It's about 60 million securitized mortgages in this country that are presumably predatory and/or unable to withstand scrutiny in a foreclosure proceeding. The notes on most of these mortgages have been destroyed and the debts are unenforceable. 

It isn't a matter of IF the nation will collapse into a depression when these mortgages fail, but a solid WHEN. People have homes that are worth fractions of what they owe. When catastrophic bank failures and foreclosures ensue, don't expect people to continue to pay for a home who's value is rocketing to bedrock. They can step off of their front porch and buy the neighbors home for 40% of what they owe. 

THAT'S JUST COMMON SENSE

We must keep people in their homes, we must keep banks banking and we must ask Congress to ENFORCE the PROGRAMS and to flex when needed if the target moves and needs to be fine-tuned. They must act swiftly and they must hold those who consider themselves TOO BIG to be regulated to the blazing fire of justice. NOT just to remedy the existing tsunami of piracy and gluttony today, but to PREVENT IT in the future. Enforcement is the other half of the law; if we just asked people not to steal but did nothing about it when they did, we would be a nation of thieves.

Congress is a lazy parent while the children (AIG, CitiMortgage, JP Morgan Chase, Wells Fargo...) are in the attic fearlessly playing with matches, unafraid of repercussion. I urge you to join me and thousands of others and sign the American Homeowners Petition To Congress urging them to act NOW and stem the bleeding: CLICK HERE!

HAMP Participating Homeowner threatened with eviction by CitiMortgage

A local teacher says she was shocked when an eviction notice came in the mail from her mortgage company. It happened only months after she enrolled in the "Making Home Affordable" government plan. After struggling to make mortgage payments Mary Oddan finally thought she was back on track. That is until she started getting notices saying her home had been sold, and she had to leave. Oddan and her 81 year old mother say they feel like they're in limbo. "I'm just waiting right now for someone to drag us out and lock the door behind us. Every day I come home wondering if I still have a home," said Oddan. 

Oddan was having trouble making her mortgage payments late last year and her home went into foreclosure. She started speaking with CitiMortgage about enrolling in the making home affordable program. If you're approved for the program your loan is extended and you're given lower monthly payments. According to the plan, if you make 3 consecutive payments, you'll be approved for the new loan and get to keep your home.Oddan finally thought she was all enrolled in the program. Then just days before she made her first payment she got a notice saying her home had been sold and she and her 81 year old mother had 3 days to "quit" the residence. "Mother answered the door and they said we had 3 days to leave!"CitiMortgage representatives say because foreclosure was in progress and they have no record of her documents being received, her home was sold August 31st at auction.  

Read more: CLICK HERE

CitiMortgage: The Great STALL GAME

Recently, after receiving another letter of default from CitiMortgage (who holds our 2nd Mortgage) I decided that I would share our actual journey with them in the hopes that it might help someone as they try to work with the endless runaround and smoke-and-mirrors that this company practices in the giant game of "STALL STALL STALL" that they are playing in an effort to get every borrower they possibly can into foreclosure and SALE. 

Most borrowers either forget or do not know that, like attorneys in a crisis, the loan SERVICERS always get paid.  CitiMortgage, if they are your servicer, WANTS your mortgage to go into default.  They WANT to foreclose on your home, they are PAID to make that happen.

Don't Give Them Your Big Sob Story...

Do not share with them your story, your suffering, your struggles... THEY DON'T CARE.  You need to wake up and do what needs to be done.  THINK about what they want, and give it to them.  That's right, GIVE it to them.  Think like a business-because that's what this is to them, it's NOT personal.  For YOU it's personal.  But keep your pain out of it, it only clouds your judgement.

Who are the victims when mortgages fail?

It may surprise you to know that not only are YOU a victim as the borrower, but SO IT THE INVESTOR who owns your loan!  They don't get paid when you default.  They lose it ALL when you default.  Guess who DOES get paid?  The servicer, through fees, charges.  They don't hold the DEBT, they only SERVICE it.  So remember that, when you are dealing with them.  If they modify your loan, THEY LOSE MONEY.  If you make you payments on time, THEY LOSE MONEY.  If you resolve your default, THEY LOSE MONEY.  They intentionally keep the OWNER of your loan and YOU apart from each other because they don't want you talking to each other.  GET EDUCATED, and save your home.

And to my esteemed Government, I have a very simple message:

WAKE UP!  American Mortgage Borrower's are becoming more and more aware of not only the corruption in high finance BUT IN OUR OWN GOVERNMENT! 

It is becoming more and more obvious and unavoidably clear to the working American that THEY ARE ONE AND THE SAME!  I urge anyone struggling in this crisis to join THOUSANDS of others where hope is still very much alive and free help and advice is available 24/7.  Visit www.LoanSafe.org

God Help Us All, And God Have Mercy On America.

Round and Around and Around We Go...

After THREE TIMES filling out the online packet to update our information to get help (it takes a while to fill it out) and having it respond with an error after submitting and losing everything, I decided to take a different course with CitiMortgage.  They DON'T WANT to get my form submitted.  That would mean they would have to PROCESS IT. 

This is why when you call their homeowner assistance lines, you wait on hold forever and then it suddenly disconnects you.  After a while, you get frustrated don't you?  Who has time to spend ALL DAY, every day on this unbelievable excersize in fraud?  Certainly not you!  That's what they are hoping for.  They have you in their STALL GAME.  THEY NEED TIME...  And guess who they are getting it from?  Yes, YOU.

They are STALLING FOR TIME.  TIME THEY NEED TO GET THEM CLOSER TO FORECLOSING ON YOUR HOME.

Here Is Our Final Offer To Them

(This is an actual entry on the application of harship that was sent to them)

In anticipation of anther large reduction in our income, we respectully submit our last and final effort to seek an equitable solution to both CitiMortgage and our family.  The income stated on this application reflects actual pay, without the overtime pay that occurred over the previous 8 months.  Borrower's overtime work was a huge, traumatic effort to offset what was thought to be a temporary financial hardship from Co-Borrower's sudden unemployment.  On previous attempts by us to seek modification, CitiMortgage used Borrower's overtime pay as "regular compensation" on BOTH occaisions, even though we explained that considering this amount of overtime (Over 400 hours in 6 months in addition to regular time, twice working MORE than 30/40 days consecutively on 12 hour shifts) as a long-term solution is unreasonable, unsustainable and is NOT availble to him as an option in the future. It is a very tragic irony that we were declined modification by CitiMortgage due to "making too much money".  We can provide current paystubs to reflect the changes to his pay which have already taken place, and what to expect moving forward. 

Why We Are In Default:  Here's Why

Co-Borrower became unemployed in December 2008, and unemployment compensation is ending in November, so it is not included here.   Twice, we were declined for modification of any sort from CitiMortgage.  We have completely exhausted our financial resources, and have no other option other than seeking bankruptcy protection.  In early November, it is expected by our attorney that CitiMortgage's lein will be stripped off of the debt due to being unsecured, making any modification now an unnecessary, and unrealistic hardship in these circumstances.  Even the most generous modification on our second mortgage would simply be added expense as we start our financial lives over again after November.  In sincere effort for a mutually beneficial BUSINESS outcome, we have secured the ability to offer CitiMortgage the sum of <6% of balance> as a reduced payoff amount in exchange for releasing the junior lein on our home.  Because our second mortgage with CitiMortgage is wholly unsecured by a wide margin, our attorney expects it to be stripped off in our Chapter 13 in early November, 2009.  If CitiMortgage will accept our offer, they will effectively recover something substantially more for the owners of the loan, and we will then be able to file Chapter 7 bankruptcy, which would be financially much better for our family. If CitiMortgage is disinclined to recover the <6% of balance> on this mortgage, and in the unlikely event that the lein is NOT stripped off in our Chapter 13 bankruptcy, then we will proceed with enforcing the right of recission that was enacted in May, 2009, and/or seek damages for SEC <and many other> violations.  We seek the least costly and arduous remedy for BOTH CitiMortgage, the investors who own the loan, and our family.  We hope you will consider our sincere offer of the very most we can do to reach an equitable solution to this unsustainable mortgage.  Thank you very much.