Mortgage Mess
Dizzy’s Ten Post Round-Up
Sometimes it’s hard to believe in the “benevolent brotherhood of man”. Today’s Ten Post Round-Up will probably not make it any easier:
1: The Supremes say it’s OK to require government-issued photo ID card in order to vote…
As Election Nears, Supreme Court Upholds Repressive Voter ID Law–AlterNet
2: The Secret Service rampant with racism?…
Cox reports “Noose allegedly found at Secret Service Training Center” and the Secret Service already has serious problems with racism–AMERICAblog
3: Money-saving tip: A stamp that is always equal to whatever postage is being charged for a 1 oz. letter, forever…
4: Well, it looks like the media has found Jesse Jackson’s replacement…
5: More of your tax dollars at work, supporting the troops, in Iraq…
DynCorp Manager Used Armored Car To Transport Hookers in Iraq–Muckraked
Maximum “Bleeding” Time 4-Hours For England’s E-Rooms.
England’s much touted socialized health care system is teetering on the brink of complete collapse. It has become so bad that a new law sets a maximum of 4-hours wait for care in a Hospital Emergency Room.
To avoid prosecution patients are often kept outside so the 4-hour clock does not start or they are left languishing in an ambulance outside – sometimes until they die. Patients routinely wait months or even longer for care, and some do not get even life saving treatment. Meanwhile costs have skyrocketed.
State Department Fires 2 Workers for Inappropriately Looking at Barack Obama’s Passport File
Two contract employees for the State Department have been fired and a third disciplined for inappropriately looking at the passport file of Democratic Sen. Barack Obama’s passport file. Obama critics are demanding he release all information in his passport file asking what he is hiding.
Subprime Mess Proves A Boon To The Homeless
It definitely beats living under a bridge, in a van, by the river!
Thanks to all those nasty foreclosures due to the subprime mess, there are now enough homes for homeless people to squat in. And the rent is better than any mortgage. It’s free!
GREENSPAN — RECESSION IS 50-50.
Former Federal Reserve Chairman Alan Greenspan told about 1,100 energy industry executives, academics and others Thursday night the American economy is “clearly on the edge” of a recession, and has a 50-50 chance of tipping over into it. Greenspan said the depressed housing market as a primary culprit. Greenspan’s prediction came several hours after his Federal Reserve successor, Ben Bernanke, told Congress the economy is deteriorating, but he still looks for slow growth as 2008 transpires. HYPOCRISY.com has proposed a HOMESTEAD ACT of 2008 to help relieve the economic stress of the subprime mortgage mess and declining housing market.
February 7, Thursday, Conservatively Speaking
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Mitt Romney says that despite lukewarm support he’ll soldier on – ironic since he nor any of his three sons felt their duty, or perhaps even accept they have any, to serve in the military. Hucka-VPee did very well and looks more than ever like a Vice Presidential pick. McCain amassed – what all but the most zealous believe – is an insurmountable lead for the Republican nomination. But, it is still mathematically possible to stop his nomination.
New Homestead Act of 2008
Proposal:
Enact legislation enabling (not requiring) lenders and state and local laws to allow and keep the current occupants in homes that are go through foreclosure. Foreclosure does not stop. The mortgage is exchanged for a Homesteaders Agreement between the Lender and the Occupant
Who Stays:
Current Occupants
Will Your Congressman Say This to a Lobbyist?
“sorry, my constituents come first. Your clients have helped them get into houses they cannot afford and your clients are going to help them stay there”.
From Editor Dave Shirmeyer, Shirmeyer Rate Market Report
{By Hypocrisy.com Management: The following is from the daily report Dave Shirmeyer of Sigma Research, Inc
Mortgage Regulators Still Miss the Opportunity of “Homesteading 2008″
Everyone seems to have a plan and non of them are having great impact on the housing problems. That’s mostly because the most intractable part of the problem is that too many houses are overvalued, driven by fog a mirror housing finance that purshed demand for homes beyond the natural real need curve to a speculative demand dynamic and that will not be changed a lot by any plan out there, except possibly this “Homesteaders Act of 2008″
- Change the whole deal and keep all current occupants in the house with a troubled mortgage as follows:
- Before foreclosure modify the mortgage deal to a profit sharing deal “Homesteading Act of 2008) with the owner occupant by lowering rate so all housing finance cost are less that 33% of gross income.
- Foreclose ASAP on non occpant owners and offer financing to the renting occupant as to the
- Laws need to be changed to facilite this and formulas for profit sharing must be determined.
IMMEDIATELY send this or talk about it with you political prepresentatives, I have seen NONE talking about this human solution.
Send it to your press outlets and watch them ignor it.
A Year of Change, World Economic Growth will Dominate Davos
Keep up on the news at a number of important sites such as Taipei Times
For the English point of view try Ft.com.
For additional background check Wikipedia Here.
How could Davos 2008 get along without YouTube?
Mortgage Mess
Who is to blame for the mortgage mess hurting our economy so badly today?
Is it greedy loan brokers, banks, Wall Street Firms, Insurance Companies, Investors even borrowers?
Yes. And they all must give back to prevent massive continued disruption and paid to so many by implementing the Homestead Act of 2008.
SLOW to FAST
How can Lenders go from SLOW (Silly Lenders Ousting Workers) to FAST (Finally A Sensible Thought)?
Lenders have in recent years helped a lot of people move into houses who can not afford them. They have also helped a lot of speculators buy properties hoping to flip them for a profit after renting them for a while. This unusual fog a mirror finance driven demand drove up prices of homes and slowed down rental rates.
Now they are kicking the occupants out