This video is a bit long at 8 minutes, but it really gets the point across that the mortgage crisis is just getting started. As was stated in the Presidential debates last week, we are not at the beginning of the end, we are merely at the end of the beginning. This video was originally recorded in March of this year and it predicts the failure of Lehman Brothers and the bailout of Fannie Mae and Freddie Mac. The third prediction is that the mortgage crisis is only going to get worse, no matter if this $700 billion dollar economic bailout bull bill passes or fails. Property values have only dropped about 12%; the market will correct itself when they drop another 20%. Do you think you should just sit around and hope that happens before the bank takes your home, or would you rather fight for your home and save it from foreclosure yourself? Decide to fight and then learn how to do it at www.ForeclosureDefenseSecrets.com.
McCain and Obama fought it out for two hours tonight and very little was said about the foreclosure problem in the United States right now. While the economic disasters in this country were highly debated early on in the debate, most of the talk was of tax cuts and pork barrel spending. Neither of this topics have much effect on whether or not you or I get to keep our homes.
Soon after that, the topics quickly shifted to foreign policy which is fitting since it will be people from other countries that come in here and purchase your home after you fail to protect it from the bank. While most of our news outlets are reporting this economy as being a world crisis, the fact is that other countries’ economies are expanding as ours is contracting. India, China, and Australia are all doing well while we struggle here and it will soon lead to an increase in the amount of homes purchased by citizens of other countries.
While you may think that this creates more buyers for struggling borrowers to complete short sales, it actually will do the opposite. Most foreign buyers prefer to buy directly from the bank since the title is clear and the bank is willing to sell the property at a discount. The goal for borrowers seeking to sell their property should be to find buyers in this country that are looking for a bargain in a down economy but have the credit to support such a purchase.
Finding these buyers may take some time, which is why you need to buy as much time as possible when facing a foreclosure. You may need to extend the foreclosure process for as long as one or two years. Luckily, through the processes described in Foreclosure Defense Secrets, you can extend the foreclosure process for as long as you need. For more information, visit www.ForeclosureDefenseSecrets.com.
While no one would ever confuse the presidential terms of Franklin Delano Roosevelt with those of George W. Bush, the overwhelming amount of government intervention in what should be a purely capitalist market had me thinking about the last time the government was this intrusive: the 1930’s.A world war costing the country all of its savings, a stock market so volatile that it could crash any day, and unemployment numbers that forced families to the streets are just some of the staggering similarities.
Over the past few months, the Federal government has continued to regulate the “free market” because they say that they are protecting us.However, the band-aid on this bullet wound is actually making the wound worse.If the Federal government is bailing out privately owned companies, who is going to bail out the Federal government?The last time I checked, our national pocketbook wasn’t in the best shape to be lending money to a bunch of organizations that just defaulted on the loans they took out in the first place.I guess it’s better than our usual technique of lending all of our money to other countries that have no intention of ever paying us back, but not by much.
The problem is that the economy is in the toilet, unemployment is through the roof, and more people are losing their homes by the hour.Instead of focusing on the causes of the problem (namely a government that frivolously misspent over three trillion dollars over the past eight years), the geniuses in Washington have decided to employ a temporary ”solution” that actually exacerbates the problems we are trying to solve.Giving lenders more money now would be rewarding the bad loans they approved over the past three years and encouraging them to continue the grossly negligent business practices that they have been employing.
If the Federal government really wants to overstep its bounds, it should spend money on creating more jobs and building more homes instead of saving corporations.The stock market and the publicly traded companies that compose it will be fine.The market will work itself out and some companies will fail while others will remain strong.Who is going to care for the worker?Who is going create jobs?Who is going to save your home for foreclosure?The fact is that the Federal government is not coming to our rescue.We must be willing to fight for ourselves because it is clear that no one else will.In 1928, President Herbert Hoover promised a chicken in every pot.Today, most people can’t even afford the pot.
Much of the media coverage surrounding the continuous government bail outs is focused on whether or not the Federal government should be stepping into the private sector and altering the market when a true capitalist society needs to be free from government intervention. It is true that in a free market system, the market needs to care for itself without interference from outside sources. Supply and demand tend to even each other out in the long run with those that work harder and smarter benefiting in the end.
Whether or not the actions by our government in bailing out these corporations is the first sign of a socialist society is not the issue that we should be focusing on. The true issue is that none of these bail outs help the borrowers; they only help the corporations. Everyone who purchased AIG stock last year has still lost their money. Everyone who has a mortgage owned by Freddie Mac or Fannie Mae still owes more than their house is worth. The Federal government has decided that the corporations need to be bailed out even though their own poor decisions put them in these circumstances.
The Federal goverment has no plan to bail out the home owners who have taken out loans that they can no longer afford. The only way to save your home is to fight for it; there is no time to wait and hope the goverment will bail us out. They couldn’t if they wanted to. Learn more about how to fight for your home at www.ForeclosureDefenseSecrets.com.
The stock market is plummeting, banks are going belly up, and the value of the US dollar is almost comical. These tragic economic declines are all interrelated, as are the price of gas and the devastation caused by Hurricane Ike. How does this affect you? Aside from the obvious reduction of your 401(k) and the painful cost of filling up your car, this economic decline has a direct affect on the foreclosure market. What may surprise you is that this bad economy may actually help those people facing foreclosure.
As the economy declines, so does the stability of the banks that loaned the money and the investors that purchased those loans from the bank. The banks can’t afford to take back all those houses that they are attempting to foreclose. They don’t have the infrastructure to handle real estate and wont be able to implement any with all of the impending layoffs coming. This means that the banks will be much more willing to work with borrowers in modifying their loans or approving short sales at lower prices.
The problem facing both the borrowers and the banks is the lack of time. While the banks want to work with the borrowers, the attorneys employed by the banks are mandated to get the foreclosure judgments entered and get the properties sold as quickly as possible. I know this doesn’t make sense since it isn’t what either party wants, but it is simply a result of one hand not knowing what the other hand is doing. The loss mitigation department of the bank wants to accomplish one agenda and the legal department is attempting to accomplish a contradictory one. So what is the answer?
The answer is that borrowers need to stall the foreclosure actions against them for as long as they possibly can. Borrowers need to use the legal system to their advantage and fight the foreclosure attorneys at their own game. By stalling the foreclosure process, the borrowers are buying themselves time to work with the banks and either modify the loans they have, refinance under new loans, or sell the property to another buyer. In order to accomplish this goal, knowledge of the legal system, the foreclosure process, and the stall techniques are required. For more on how to attain this knowledge, visit www.ForeclosureDefenseSecrets.com.
While this video is from last year, the problem it discusses has now spread to all of our backyards. Foreclosures are at an all time high in 2008 and experts predict that the number of foreclosures will continue to grow in 2009. The cause of these foreclosures have no one person or entity to blame and there is no one perfect solution. While some people continue to wait for the government to bail them out, that solution becomes less and less realistic as the number of homeowners facing foreclosure grows.
Some people are losing their homes, while others are losing investment properties. Some people are the vicitms of mortgage broker fraud, while others are vicitms of unfortunate events such as illness or job loss. There are different levels of equity, different neighborhoods, different states, and homeowners with different levels of income, different goals, and different resources. No two situations are the same, but there is only one thing that all people facing foreclosure have in common: they can save their property from foreclosure simply by choosing to fight.
In order for a bank to foreclose a property, they must prove to the court that there are absolutely no genuine issues of material fact that exist and that both parties consent to the foreclosure. A few simple legal techniques can bring the foreclosure process to a dead stop. You do not need a lawyer; what you need is some knowledge. Find out more at www.ForeclosureDefenseSecrets.com.
As an attorney for the banks doing the foreclosing, it amazes me that only about one percent of the borrowers we foreclose attempt to employ the methods available to anyone who wants to save their home from foreclosure. It amazes me even more that, of that one percent that attempt to fight and force delay, another ninety-nine percent of them go about it incorrectly. Even more amazing is that they fail once and then they never try again. They just give up. In the Army, the troops in basic training complete a drill in which they open a parachute, throw the parachute into the wind, untangle the cords, pull the chute back in, and then release it into the wind again. This drill is used to instruct the soldiers on what to do in case your parachute gets tangled after you have jumped from a plane.
I heard a story recently about one soldier who had been performing this drill for quite some time, at the instruction of his drill sergeant. The soldier asked his drill sergeant how long he should perform this drill if his parachute got tangled and refused to open in an actual jump. The drill sergeant responded, “Son, you have the rest of your life to perform this drill if your chute tangles in an actual jump.” This is your home. If it isn’t your primary residence, maybe it is a vacation property or investment that you purchased with your hard-earned money. This is money that you could have spent on your family, your friends, or yourself. Why would you just allow the bank to take it from you without putting up a fight?
Once the property is taken, it is gone for good. Like the paratrooper untangling his parachute over and over again, you have the rest of your life to practice the techniques I am willing to teach you. You have to take the first step by choosing to participate in the Foreclosure Defense program and take the time to follow my teachings. You can beat the foreclosure process and I am willing to tell you how at www.ForeclosureDefenseSecrets.com.
Even in the wake of the government take over of mortgage giants Fannie Mae and Freddie Mac, there are a record number of home foreclosures in the U.S. While the government will attempt to step in and save people from themselves, they wont be able to do anything without the full cooperation of the banks. The problem is that the banks are just businesses and the purpose of business is to make money. Businesses dont have emotions or thoughts. They are calculating and only act in their best interests. The only way to stop foreclosure is to fight foreclosure. You cant wait for the government to act on your behalf or you can hope that the bank shows you mercy, but the only true way to protect yourself is to take matters into your own hands and fight the foreclosure process head on. Find out more at www.ForeclosureDefenseSecrets.com.
Although the number of homeowners facing foreclosure has increased dramatically over the past year, there are numerous ways to ward off foreclosure. Borrowers can attempt to have your mortgage modified by calling a credit-counseling organization or contacting the servicing agent of their loan. Some borrowers have even been able to cut their monthly payments in half by doing this. Another technique to avoid foreclosure is the short sale of the home. The borrower will lose any equity in the home and will be forced to give the property up to the new buyer, but no foreclosure will appear on their credit report.
While some borrowers have been successful using these techniques, those who have managed to save their homes remain only a small fraction of people at risk of losing their properties. One in every 464 U.S. households received a foreclosure filing in July. More than 2.2 million foreclosure filings were reported during 2007, up 75% from 2006. The number of homes in some stage of foreclosure was up 79%, indicating that some properties may have just entered the initial stage in 2007 and could be completing the foreclosure process in 2008. I have seen the increase first hand and have developed a way to aid borrowers in defeating the banks at their own game. Visit www.ForeclosureDefenseSecrets.com for more information on how to stop foreclosure and save your home, or complete a short sale in which you can manage to retrieve any equity put into the home and even end up with a profit.
Many people dont realize that the effects of a foreclosure last well beyond the sale of the home at public auction. Even after your home has been taken from you, you still may be held accountable for the taxes on the difference between the sale price and the mortgage amount. While this may be adding an insult to an already injured individual, it is currently the law, and even more of a reason to fight tooth and nail to avoid the foreclosure of your home.