To: President Donald Trump, The United States House of Representatives, and The United States Senate
Banks got their Bail out-Where was ours?!
Dear Home Owner and Tax Payer
This letter is being written because losses to the Treasury should be minimized as well as losses to the F.H.A and the F.H.F.A (that now owns Freddie Mac and Freddie Mae. The O.C.C has bank regulators now investigating illegal foreclosures . A safe and sound banking system, and a non-erosion of trust in the banking fabric of our nation is very important I feel.
Banks sold millions of loans and bundled them into Real Estate Investment Trusts. These were then packaged and sold as Mortgage Backed Securities.
New York, NY. – The Supreme Court of the State of New York recently ruled on the case of Bank of New York v Silverberg in a highly controversial decision which now prevents lenders from foreclosing on homeowners if the lender is not in possession of the property’s promissory note. a result, banks switched roles from Lender to Servicer and NO longer own the very NOTES that they claim that they have in order to foreclose. They got no skin in the game and made bad loans as a consequence, because none of their own money was at stake as they re-capitalized.
When the couldn't prove that they didn't have these NOTES, the very reason by which that they can foreclose, they started using RoboSigners, to Forge Documens with Companies like DOCS LLC. /
They later settled with the government for $26 Billion for this fraud: Do you still feel that they were repentful? In fact, these same undeserving lenders that got bailed out, often dual track borrowers, pursuing legal action and modification at same time. They stall at any meaningful attempts at loan modifications. They are sitting on dollars and not lending them, causing further market palce problems. Ed DeMarco, a Bush Appointee refuses principal reduction on the idea "moral peril". So it was not moral peril when banks deceived consumers and issued credit default swaps against their very own borrowers? Was it fair that banks forged signatures to get people's houses illegally? So banks have insurance to protect them against their losses. All we have as borrowers is our paychecks! So Ed DeMarco should be Fired!
If you feel as I do, then sign the petition I created.
Principal reduction for FHA insured loans to 110% of present market value, and if market increases, borrower agrees to split equity with Ginnie Mae 50/50 during a 5 year time period. This is is only for borrowers that are current. For those in default, current interest centric approach will be maintained. Force FHFA as well to do same to restart housing market. We all need to adjust home values and not have home owners trapped by negative equity.
That's why I created a petition to The United States House of Representatives, The United States Senate, and President Barack Obama.
Will you sign this petition? Click here:
http://signon.org/sign/banks-got-their-bail?source=c.em.cp&r_by=3022123
This letter is being written because losses to the Treasury should be minimized as well as losses to the F.H.A and the F.H.F.A (that now owns Freddie Mac and Freddie Mae. The O.C.C has bank regulators now investigating illegal foreclosures . A safe and sound banking system, and a non-erosion of trust in the banking fabric of our nation is very important I feel.
Banks sold millions of loans and bundled them into Real Estate Investment Trusts. These were then packaged and sold as Mortgage Backed Securities.
New York, NY. – The Supreme Court of the State of New York recently ruled on the case of Bank of New York v Silverberg in a highly controversial decision which now prevents lenders from foreclosing on homeowners if the lender is not in possession of the property’s promissory note. a result, banks switched roles from Lender to Servicer and NO longer own the very NOTES that they claim that they have in order to foreclose. They got no skin in the game and made bad loans as a consequence, because none of their own money was at stake as they re-capitalized.
When the couldn't prove that they didn't have these NOTES, the very reason by which that they can foreclose, they started using RoboSigners, to Forge Documens with Companies like DOCS LLC. /
They later settled with the government for $26 Billion for this fraud: Do you still feel that they were repentful? In fact, these same undeserving lenders that got bailed out, often dual track borrowers, pursuing legal action and modification at same time. They stall at any meaningful attempts at loan modifications. They are sitting on dollars and not lending them, causing further market palce problems. Ed DeMarco, a Bush Appointee refuses principal reduction on the idea "moral peril". So it was not moral peril when banks deceived consumers and issued credit default swaps against their very own borrowers? Was it fair that banks forged signatures to get people's houses illegally? So banks have insurance to protect them against their losses. All we have as borrowers is our paychecks! So Ed DeMarco should be Fired!
If you feel as I do, then sign the petition I created.
Principal reduction for FHA insured loans to 110% of present market value, and if market increases, borrower agrees to split equity with Ginnie Mae 50/50 during a 5 year time period. This is is only for borrowers that are current. For those in default, current interest centric approach will be maintained. Force FHFA as well to do same to restart housing market. We all need to adjust home values and not have home owners trapped by negative equity.
That's why I created a petition to The United States House of Representatives, The United States Senate, and President Barack Obama.
Will you sign this petition? Click here:
http://signon.org/sign/banks-got-their-bail?source=c.em.cp&r_by=3022123
Why is this important?
Principal reduction for FHA insured loans to 110% of present market value, and if market increases, borrower agrees to split equity with Ginnie Mae 50/50 during a 5 year time period. This is is only for borrowers that are current. For those in default, current interest centric approach will be maintained. Force FHFA as well to do same to restart housing market.