principal correction

CBO: principal reduction best for economy

Three cheers for Chris Hayes on MSNBC. In his new show, ALL IN, last night he reported and editorialized on the mistakes of giving banks relief and “screwing” homeowners since 2008. On his show he had Elliot Spitzer who took the administration to task for not doing something before this time. And to top it …

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Big Banks Headed For Break-Up

“What policy makers are starting to realize is that the absence of prosecutions and regulatory action against these banks has produced a profound loss of confidence not only in the financial markets but in the leader of the financial markets (the United States) to control itself and its own participants in finance. It’s not just …

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HAMP-PRA Program Explained

CHECK OUT OUR EXTENDED DECEMBER SPECIAL! What’s the Next Step? Consult with Neil Garfield For assistance with presenting a case for wrongful foreclosure, please call 520-405-1688, customer service, who will put you in touch with an attorney in the states of Florida, Tennessee, Georgia, California, Ohio, and Nevada. (NOTE: Chapter 11 may be easier than …

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Major Economists Tell Obama to Reduce Mortgage Debt

What’s the Next Step? Consult with Neil Garfield CHECK OUT OUR NOVEMBER SPECIAL For assistance with presenting a case for wrongful foreclosure, please call 520-405-1688, customer service, who will put you in touch with an attorney in the states of Florida, California, Ohio, and Nevada. (NOTE: Chapter 11 may be easier than you think). Editor’s …

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SHILLER: Principal Must be Written Down for Economic Recovery

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OK LAWYERS, STEP UP TO THIS ONE — It is literally a no- brainer

Featured Products and Services by The Garfield Firm NEW! 2nd Edition Attorney Workbook,Treatise & Practice Manual LivingLies Membership – Get Discounts and Free Access to Experts Editor’s Comment: The very same people who so ardently want us to remain strong and fight wars of dubious foundation are the ones who vote against those who serve …

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Now They See the Light — 40% of Homes Underwater

Featured Products and Services by The Garfield Firm NEW! 2nd Edition Attorney Workbook,Treatise & Practice Manual LivingLies Membership – Get Discounts and Free Access to Experts For Customer Service call 1-520-405-1688 Editor’s Comment: They were using figures like 12% or 18% but I kept saying that when you take all the figures together and just …

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Five Bad Reasons to Avoid Principal Correction (Reduction)

5 years ago it was obvious to anyone with the facts that the entire system or mortgage origination and mortgage foreclosures had been turned on it’s head, starting with one huge lie: that the value of the property exceeded the amount of the loan. It was in 2005 when 8,000 appraisers warned congress that their …

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Why Everyone Should Support Principal Corrections on Mortgages

First, let’s talk to the guy that says homeowners shouldn’t get a break because it would be unfair to him. After all he paid his mortgage and he is still paying his mortgage and nobody is helping him, right? Wrong. Everyone who has a mortgage is getting a federal subsidy. They get to pay less …

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Yves Smith: Obama Pressing for a “Shock and Awe” Mortgage Mod Program, 3 Million in 6 Months

SEE LIVINGLIES LITIGATION SUPPORT AT LUMINAQ.COM THEY STILL DON’T GET IT EDITOR’S ANALYSIS: The plan is from Wall Street, the facts are fictional, and the result will be negligible. I commend Obama for getting more aggressive but his advisers are still not giving him the right information. If he had it, I believe he would …

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BOA SAYS NO TO CORRECTION OF PRINCIPAL: "UNFAIR AND UNEXPLAINABLE"

COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ SEE modification-plan-sought-follow-the-money-not-the-paperwork EDITOR’S NOTE: Moynihan is pulling out the old argument, trying to stir up people who have been paying their mortgage so he and the other mega banks won’t be required to cough up trillions of dollars they stole through fraudulent appraisals of property inducing …

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THE PROBLEM WITH PRINCIPAL "REDUCTION" VS PRINCIPAL "CORRECTION"

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary “While Wall Street has us all thinking that this is so complicated that it can never be unraveled, the reverse is true. If the homeowner was the victim of a crime or misfeasance or malfeasance, then the homeowner has every right to restitution and redress …

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LA Times: California foreclosure aid fund swells, but banks hesitate: PRINCIPAL CORRECTION

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary LIVINGLIES-GARFIELD CONTINUUM BLOG EDITOR’S NOTE: The problem I have with this kind of reporting is the presumption that the using a lower amount of principal as the amount due under the mortgage is some sort of gift to homeowners. It is “PRINCIPAL CORRECTION” not principal …

LA Times: California foreclosure aid fund swells, but banks hesitate: PRINCIPAL CORRECTION Read More »

"PRINCIPAL CORRECTION": INDUSTRY AND GOVERNMENT BLOCKING SHORTSALES

livinglies-general-store livinglies-newsletter-provides-more-strategic-info POLICY CHECK: The issue is not “principal reduction” or even “short-sale”. The issue is obvious. The “values” used in the marketplace were accepted because of lies that people relied upon, whether it was reasonable for them to have relied on those lies or not. It is not “principal reduction” that will correct the …

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