jedimom

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  • jedimom commented on the blog post Housing Prices Keep Falling Unabated

    2011-05-09 09:50:44View | Delete

    well I disagree. US is still the largest manufacturer in the world right now. Ben and Geithner are deliberately killing the USDollar to boost exports.

    That is killing the middle class American who you know, lives on the USDollar.

    the factory workers you want to ‘save’ are screwed when they go to the grocery store with their USDollar.

    The multinational GE,GM, whomever, company they work for, keeps their $$ offshore, uses the American labor and weak USDollar to boost their export #s and Obama and Trumka pat themselves on the back.

    Meanwhile 1 in 5 are on food stamps and the US will be the second biggest landlord in the US as they pump up the TBTF ever larger and millions more are tossed on the streets thanks to obama, Bernanke and Geithner who worship the TBTF.

    This is solely in Obama;s wheelhouse for THREE YEARS.

    Obama will be HISTORICAL!! most homes lost most jobs lost! lowest labor force participation in history! loss of US D reserve status! record gas (again denominated in USD and no witchhunts for speculators will alleviate the pain)! and biggest theft of middle class wealth in history!! as he ASSISTS the TBTF with the raping and pillaging of the American people.

    Obama was to the RIGHT of McCain on housing.

    Housing led this recession

    Housing has led EVERY economic recovery in US history prior to this on, thus we have no real recovery.

    Housing is the BIGGEST asset on the middle class balance sheet, we will not consume as our biggest asset continues to plummet.

    Nothing will gt better til Houaing is addressed and TBTF are cut off from the MAIN concern of Fed and Treasury, and that apparently will not happenh while Obama, who reconfirmed Bernanke and kept Geither three years into this horror show, is in office.

    If we had the GOP, the media would not be reporting this as a recovery when every person who goes food shopping or job hunting knows it is not ‘recovery’.

    Under the GOP extended, ever expanding food stamps, extended UE would end and EVERYONE WOULD SEE HOW BAD I REALLY IS.

    Then maybe we will get real policy changes to start a real recovery.

  • jedimom commented on the blog post The Case of the Disappearing Arizona Foreclosure Fraud Bill

    2011-04-22 12:11:14View | Delete

    I called Sen Reagan about this, she left me a message explaining that the bankers killed the bill in the House Banking Cmte and replaced the provisions with another bill under that name.

    She said the good news is Arkansas is about to get their Gov to sign a bill giving a provenance of title of sorts, what we were trying to do here.

    She said she will try again next session.

    The other good news is our AG Tom Horne seems to be putting up a fight and he is not rolling over for the bankstas so far.

    I am going to file an individual complaint with him and see how it goes. JPMC did a lot of funky accounting with my payments when I came out of late status, a lot of ‘corporate advances’ listed there and my pymts kept being put in suspense.

    I call shenanigans. Will post back with outcome.

  • PS the national short refi program is actually a white paper by Morgan Stanley. should have done it 2 years ago.

    funny how now that the TBTF are losing in court cases and there is no way for SCOTUS to help them in property law, that NOW it is a CRISIS!!! and we MUST ACT.

    Always works that way for the TBTF. who are BTW still woefully insolvent.

  • why oh why didnt they do ANY of this when they had a huge majority?

    now they will be voices in the wind railing against the TBTF

    the same TBTF that they, the DEMOCRATIC MAJORITY and DEM POTUS, aided and abetted in killing the middle class and the entire economy

    HOLC!

  • jedimom commented on the blog post Home Prices Falling Across the Country

    2010-12-28 16:49:52View | Delete

    if underwater, you cannot refi
    if you live in AZ, CA, FL, NV and bought or did a refi in the past 5 yrs you are likely underwater
    so if you have any change in income, usually you could refi to reduce your pymt to keep your home, so if your spouse is laid off or hours cut, etc etc

    but in this economy, with your home underwater you can no longer do that

    also, if you are underwater and lose job and have to move for new job and sell, you still owe $ to the bank, but say you have no $, you lost job, thats why you need to move, your state, say NV is underwater and 15% ue, you want to look for work in SD let’s say,

    so what can you do now? underwater, no $ (you used it up while looking for work).

    if you are in a non recourse state, AZ CA for example, you will be foreclosed on and/or walk away from the home.

    they cannot come after you for the difference b/w what they, servicer, gets in the short sale, remember you likely tried REFI, no dice, underwater; tried sale, no dice you still owe $ and neighborhoods are SWAMPED with 2 yrs of supply, you tried HAMP, BWAAAHAAA!!!, so now you walk

    servicer got fees stringing you along ‘losing’ your HAMP application as you spent all your savings waiting for HAMP mod while looking for work, now no savings cannot catch up on mortgage and you cannot even afford your moving truck to SD to seek work

    that is what Obamas Housing ‘Plan’ aka TBTF EXTEND AND PRETEND sponsored by Geithner and Obama! tm. has done for America.

    as more people are laid off, and dont kid yourself, over 400k NEW UE claims filed in every report means layoffs are still happening out there, for example the peeps who got retail Holiday work will be let go as shoppers pull back as the housing double dip becomes more clear as a national issue, all those peeps, God Bless, and others are going to be the next to join the horror of being underwater HAMP app and the hell that follows

    I put 20% down and had a 30% cushion between what I borrowed and what the home appraised for, still since I am in AZ I am underwater.

    The US economy will NOT recover until the American middle class consumer, who drives the global economy despite much protestations to the contrary, is deleveraged of their largest debt, their mortgage debt.

    We need real mortgage relief.

    HOLC wouldve done it
    even CATO is recommending HOLC
    Also with HOLC comes Recourse which will then end the walkaway factor, or at the very least mitigate it.

    Obama has overseen over 5 million foreclosures on his watch. It is a disgrace. Treasury and Fed KNEW all about the mortgage foreclosure fraud and HAMP failure, it was designed to fail.

    TBTF running our economy IS NOT WORKING. Fire Geithner.

  • I dont understand why folks dont see Hillary’s HOLC was the MOST PROGRESSIVE idea proposed by HRC or Obama.

    If housing had been meaningfiully addressed a la HOLC, the economy would be in recovery now, worldwide.

    Obama works for the TBTF

  • Note- AHIP VOLUNTARILY gave up preex denials in MARCH of 08 folks. Obama didnt WIN that as a concession.
    sheesh.

    , they agreed to waive pre ex BACK IN MARCH (they basically proposed Hillary’s plan,

    Health insurers proposed ending the industry’s practice of charging people premiums based on their medical conditions, an offer that may stall an effort to create a new government-sponsored competitor.

    The proposal on premiums must be part of a program that would require everyone in the U.S. to have health coverage, according to the America’s Health Insurance Plans, a Washington- based industry lobbyist organization. The group made the offer yesterday in a letter to Democratic Senators Max Baucus of Montana and Edward Kennedy of Massachusetts, who are working on legislation to overhaul the U.S. health system….The organization speaks for 1,300 companies that provide public or privately funded benefits, led by UnitedHealth Group Inc. of Minnetonka, Minnesota, and Indianapolis-based WellPoint Inc….the letter also was signed by the BlueCross BlueShield Association, a Chicago-based industry group for 39 companies.

    Health insurers oppose a Democratic push to create a government-run health plan to compete with private insurers for customers. Supporters of a public plan, including President Barack Obama, say it would guarantee affordable coverage, especially among those denied insurance or charged higher rates because of pre-existing medical conditions.

    -snip-

    The industry said in its letter that changes in how insurers set premiums must be matched by an “effective, enforceable requirement” that all Americans buy coverage, something that Obama opposed during his campaign. There also need to be subsidies to help low- and moderate-income families pay for coverage, the trade association wrote.

    Making certain that everyone has health insurance spreads the cost among sick and healthy people. Without a mandate, insurers say, people would wait until they were sick to buy coverage, driving up the cost for everyone else. (MiM here- EXACTLY WHAT HILLARY SAID!!!)

    “The insurance industry is trying to counter the notion that we can only have universal coverage with a government plan,” Robert Laszewski, an Alexandria, Virginia, health-policy consultant said in a telephone interview. “The fine print is the government must mandate that all Americans buy the health insurance product.”

  • sorry for typos, this just pixxes me off beyond words. Obama is an utter failure, Dubyah all over again, at least Dubyah believed in what he wa doing, Obama appears to only believe in Obama.

  • PS that GOP flamethrower CATO Institute that Miller refs SUPPORTED HOLC already, it is Geithner and Obama protecting the TBTF, now that Obama is throwing the deficit under the bus to cut a deal with the GOP will the left finally come to grips with the fact that Obama is NOT progressive Dem?
    Here is CATO in FEBRUARY of this year!!:

    If the taxpayer is putting something on the table, then borrowers should be expected to do the same. During the Great Depression, FDR recognized as much. The primary New Deal vehicle for addressing foreclosures was the Home Owners Loan Corporation. The HOLC required recourse and practiced it. In fact, approximately a third of HOLC revenues were from deficiency judgments against delinquent borrowers, including wage garnishment. Perhaps there are some parallels to today, as the HOLC found the second most common reason for foreclosure to be “obstinate refusal to pay.”

    FDR recognized that many delinquent borrowers could afford neither their mortgage nor a deficiency judgment; we must recognize the same today. Recourse is not a cure to stop every foreclosure. It is, however, a proven method for reducing some foreclosures. It also helps remind us that a mortgage is first and foremost an obligation, regardless of the value of the underlying collateral. After all, most auto loans are underwater as soon as the borrower drives off the lot; yet we do not expect auto loans to be written down to reflect this lost value.

  • and although I disagree with David about most things these days, he and Marcy have done yeomans work on housing

    too bad the left and Dem leadership didnt support the actual progressive candidate, then HOLC wouldve been done, Banks failed/closed, losses written down, consumers wouldve recovered and we would be back on track

    instead now Ireland will even lose sovereignity as TBTF of EuroZone try to force Irish tXPAYERS TO TAKE more pain FOR THEIR tbtf BANKS

    UNREAL

    GLOBAL OLIGARCHY

    Sorry damned caplock!

  • well this letter wouldve been great, two years ago, a year ago.

    Now it is too late and we recovering Dems, Tea Party Patriots etc have been forvced to turn to the GOP, who is at least the devil we KNOW

    Barney Frank yesterday said, homeownbers shouldnt get their hopes up, in re foreclosure doc fraud.

    big change from HOPE, and WE ARE THE ONES WEVE BEEN WAITING FOR

    Frank did jack and shxt to help homeowners, now he is all about th low income rental units Obama plans to convert all these homes to.

    Hillary supported HOLC

    The TBTF bought and paid for Obama, see Gasparino book Bought and Paid For, becuase they didnt want HOLC, they didnt want HRC who understood Wall St and how to handle them

    if we are all on our own, which these Obama ‘Dems’ have made quite clear we are, then I will deal with the GOP, at least there will be JOBS.

    What a fxckin travesty.