Please understand what has happened here and do your berst to stand up for yourself. In this socio economic climate it is not easy. People act as if you are (of course) the one in the wrong.

But you are not. And it is time to stop pretending we don’t know this.

Take the time and educate yourself here

When you understand control fraud and the ponzi that has just been played by the big investment banks and others in the market, you will change your mind about who should be doing what.

do NOT trust me on this – go watch the video at the link above. and pass it on.

It’s not always the previous home owner taking things from the home. There is a serious theft problem out there.

Why is no one getting prosecuted? 

It is one thing for our government to turn a blind eye while the financial terrorists recklessly abandoned decades of proven, REGULATED, safe and sound lending guidelines, but it is a completely different thing to NOT faithfully execute the laws of the land.

Mozilo, Paulson, Fuld, Sandler, Killinger, Weill, Prince, et. al. should be disgorged and on permanent vacation with Madoff.

Call/write your representatives and demand justice for all.

While I will agree there are plenty of folks out there who screwed it up, what I see more and more are people who did not screw up and who are being totally screwed – every way to Sunday by “Servicers” who could care less and whose internal gears are now seriously grinding into stop or reverse or worse. 

It would seem that if the FED is going to pay out big bucks to all these “servicers” “banks” or whatever the Hell they are anymore, and then start raping auto worker’s pension funds and medical pension funds as well while making sure the “Servicers” get 100% payback on THEIR loans – that SOMEONE should be capable of stepping in and making them provide some kind of SERVICE. Since it’s really all they do, apparently, besides trade contracts and paper around to each other for inflated prices…

We keep hearing how homeowners should be accountable – what about the servicers?  How about being accountable:

Forthe losses they are adding to with their inept decisions dealing with homeowners

For the failure to respond to customers BEFORE they become “delinquent” and therefore able to be treated like Sh*t –

For the criminal behavior they have clearly demonstrated in making these loans only for the sake of the paper they needed up front to sell and NOT as a function of any kind of real business of proper sound lending. 

All I keep hearing all over this country is how it’s the government’s fault for creating these loan products and bla bla bla.

But who took them and ran with them?  Who sold them all over the world? Who made all the up front profit from those sales and where did that profit go?

And why isn’t anyone following it?

Instead we all take it on faith that the banks are all in trouble and need ourhelp while more billions disappear down the rat hole of deception and mismanagement and people say things like “it was not my job to know how the Fed was disbursing the funds.”  

Sorry, but I think the word for all the rest of us at this point is “dupes”.

And ACORN can rant and act inappropriately, and homeowners can try to fix their own problems while the lenders/servicers continue to screw up and screw them over, and none of that will change anything at all – unless and until we make the banking industry back into what it must be in order to work: based on the principles of sound money and fair dealings, without grotesque profits and unsustainable losses – and that in itself may not happen in our lifetimes.

Meantime   – we will have to live through the rest of this thrashing and I don’t think we’ve seen the half of it yet.

I am truly sorry to hear about your struggle.  You sound like a well-intentioned, conscientious, and responsible person who did her best to do the right thing.  It angers me to hear of people who certainly seem deserving get shafted by the system while others “get over” (big-time).

Yes, I do not doubt your story nor do I deny that are other decent folks out there not getting the help they need; only getting the short end of the stick.

On the other hand (and FWIW) the VAST majority of the situations I’ve experienced are of the nature I described in my original post.  This is only my perspective (what else have I got?); a perspective of someone who is in the default world everyday.

And, yes, the banks (or more accurately the servicers), are mostly FUBAR with heads firmly up asses who also don’t give a sh!t.   It is a very frustrating fact that irritates all of us and treats most of us at one time or another unfairly.

As far as ACORN – I actually resonate with much of their intention, but find the majority of the rhetoric overblown and uninformed.  (The people they were “fighting” for that day had cashed a large refi check, bought all sorts depreciating consumer junk with $$ they didn’t have, and then try to claim the loan was fraudulent.  Question:  Did you cash the check?  Yes?  Then how was the loan fraudulent?  Was is “stated income”?  Yes?  And what did you “state”?  And how much do you really make?  So, no complaints of fraud when you were handed the check, but only know the loan is fraudulent.  I see….)  They were also interfering and attempting to obstruct a valid operation of law (trustee sale) which serves no one (only to drag the sale out and make us all bake in the sun longer out there on the steps) as well as few protester punks making (lame) threats toward sale participants.  The place to take the fight isn’t that venue.  A rally would have been much more effective at the front doors of the servicers who are actually foreclosing.  The auctioneer is just an hourly employee who has no say in the file status and the rest of us are potential buyers who also have no say in the disposition of the properties.

Happy to hear you got out of your situation in one piece and can move on.  I sincerely wish you the best in rebuilding and hope to see you again soon as a (happy this time) homeowner.

At least with a short sale you won’t be in the default penalty box for 5+ years and you may well look back and realize that simply getting out is MUCH better than limping along with a loan mod on an overinflated debt on a seriously upside down property.

Foreclosure is the solution not the problem.  Despite all the bailouts and financial initiatives the tested solutions of bankruptcy, foreclosure, and bank seizures by the FDIC are still working successfully.

If you want to change an instituion its at the other end of the system.  The availability of information should eliminate the way real estate is sold and financed.  There’s no reason to pay someone 6% for a housing transaction or 1% for processing financial paperwork. 

Foreclosure is the way to get property out of the hands of those who have demonstrated that they cannot afford it (for whatever reason) into the hands of those that can.  It also sets a value of all comparable property. 

Acorn and everyone else should be grateful that property values are dropping. Only those who need propert to be more exensive (brokers, real estate salespersons, and the government) will be happy if prices were to remain high.

I’d like to see foreclosureradar used to help this situation.  If you not only displayed the defaults, auctions, and reo’s, but also what qualilfied buyers were willing to pay for the properties, we’d reach the bottom of this very quickly. 

What are the barriers to doing this?

“Stop foreclosures!  Save people’s homes!”

OK, let me get this straight:

• Lied on a loan app (a federal crime)
• Took on way more debt than they could possibly ever pay back; even @ 0% interest
• Massively overpaid on a piece of crap property
• No money down
• Live 1yr+ payment (rent) free, stiffing the local tax base and/or HOA
• Able to walk away with no recourse