The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label mortgage. Show all posts
Showing posts with label mortgage. Show all posts

Monday, September 28, 2015

Germany kicking people out of their own residences to give to refugees

After the truth about the mass European refugee event has become public now for a few weeks, one has to wonder why leaders within the EU would be willing to tear the union apart by forcing countries to take in Islamic and foreign aliens, especially when many are not even Syrian, or homeless because of the Syrian Civil War.
But even with this being said, and with an ongoing clash raging between stable EU nations and fringe ones like Hungary, Germany appears to be fully into the false narrative as now there are reports of government officials kicking out long-standing citizens from their rented apartments to provide space for the massive influx of alien refugees.

Read more on this article here...

Monday, April 20, 2015

Repercussions of negative interest rates leave European banks paying homeowners

In the normal instance of a loan or mortgage, a person will borrow money from a bank at a certain agreed rate of interest over the course of an agreed amount of time.  However, in this new Keynsian world of negative interest rates, the tables are completely turned and we are now seeing European banks paying homeowners instead of receiving interest from them, for a mortgage held on property.
Welcome to Bizarro World.
 
Read more on this article here...

Thursday, February 9, 2012

Obama using taxpayer money to buy election credit for November

As recently as 3 days ago, the 50 state Attorney General lawsuit against banks, MERS, and the massive foreclosures that took place because of Robo-Signing was at a standstill.  Then out of nowhere, the four states (NY, California, Florida, etc...) that had held off from a brokered agreement received a call from President Obama.

Within 24 hours, those states suddenly accepted the settlement, and now the banks will be shelling out a paltry $25-40 billion dollars for the trillions they made in fraudulent foreclosure game.  On top of this, the settlement will be as good as a taxpayer funded campaign donation for Obama, as states expect to use the money to help those who still have home refinance, and to buy off those who lost their homes with $2000 cash.

For those who don't understand what just happened, US banks just funded Obama's re-election campaign to the tune of $26-$40 billion.
Still, the agreement is the broadest effort yet to help borrowers owing more than their houses are worth, with roughly one million expected to have their mortgage debt reduced by lenders or able to refinance their homes at lower rates. Another 750,000 people who lost their homes to foreclosure from September 2008 to the end of 2011 will receive checks for about $2,000. The aid is to be distributed over three years.  - Zerohedge

Buying goodwill and elections in the final hour (year).  It's the American way in the land of crony capitalism.

Wednesday, February 1, 2012

It must be election season as Obama brings out another fail mortgage program

Here we go again.  The Housing markets is still in freefall, and foreclosures are going to accelerate in 2012 as judicial rulings against homeowners in late 2011 open the door for the banks to take property without a note.  So what does President Obama choose to do about this for the American people?

Wait for it...

A new mortgage refinance program.

Yes, President Obama will seek to institute his third refinance program in three years, and like the other two his administration produced, the results will again be an Epic Fail.

In his State of the Union address, President Obama laid out a Blueprint for an America Built to Last, calling for action to help responsible borrowers and support a housing market recovery. While the government cannot fix the housing market on its own, the President believes that responsible homeowners should not have to sit and wait for the market to hit bottom to get relief when there are measures at hand that can make a meaningful difference, including allowing these homeowners to save thousands of dollars by refinancing at today’s low interest rates. - White House.gov


We hesitate to count off all the ways this new program is meaningless and will accomplish little for the American people who still own property that is worth less than they owe on it.  However, the most important thing to remember is:

Interest rates have been at historic lows for three years, and those that could refinance, did refinance.  Those that could not, did not.

The only way the government and the President could help the American people is to do what President Bush should have done in 2008 during the credit crisis... pay off most of the real estate debt, and mortgages to the banks.  This would have seriously helped people keep thier homes, while at the same time, infused trillions of dollars into the insolvent banks.  But of course we know that the Fed and taxpayers simply gave trillions to the banks, bypassing the American consumer, and they still were foreclosed upon by these institutions.

Three to four years after the crash of the Housing bubble will do little to really help those who are having trouble paying their mortgages.  The government can say and do all they want, but the banks are not lending, they are not refinancing, and no government program, without the power to punish banks that do not participate, is simply campaign rhetoric, for which President Obama is the master of.

Saturday, January 21, 2012

Housing is not improving at all entering 2012

Contrary to manipulated government and NAR reports, housing numbers are not improving by any real sense in every area of the industry.  Going into 2012, the number of housing starts, home sales, and writedowns still remain close to record lows of the last 60 years.

Residential Write Downs: This is resurfacing for the umpteenth time. Today’s version came from HUD secretary Shaun Donovan (via Reuters). A rumored settlement involving $20-25 billion dollars in relief to distressed homeowners from banks involved with robosigning (BAC, WFC, C, JPM, ALLY etc.). The settlement might kick a $20,000 reduction for one million borrowers who are underwater.

New Home Starts: Total housing starts fell 4.1% in December to an annual rate of 657,000, reflecting a 20.4% decline in construction of multi-family units and a 4.4% increase in single-family starts.

Remodeling Moves Higher: “People are remodeling instead of moving” said David Crowe, chief economist of the painfully obvious at the National Association of Home Builders. The key to this are the huge number of current homeowners who either are unable to sell their currents homes, or if they do, no longer will qualify for a new mortgage, or lack a 15-25% down payment for another purchase in order to move.

The bottom line remains: Housing is a dark spot in the economy, and the regular bottom calling we hear is best ignored. One day, housing will once again begin contributing to US economy, but until we see higher Employment and greater household formation, that time is off in the future. - Ritholtz.com

This also doesn't take into account the new foreclosures that are expected to hit the markets in 2012 after local and federal judges overturned the MERS lawsuits and rights of banks to foreclose when they don't hold the note.