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Posts Tagged ‘bailout’

The EU has called for the President of the European Central Bank, among other officials, to stand before a special financial committee, as the debt plague sweeping the bloc threatens its very unity. Talks, which are underway, focus on halting the spread of contagion, as fresh data sows panic with revelations even such economic giants as Germany are not immune. Another priority is addressing investor concerns that Finland’s demands for collateral, could derail a second 160 billion euro bailout for Greece. Patrick Young, Executive Director of the investment firm DV advisors, believes the rifts between the EU nations make it impossible to offer a meaningful solution to the crisis.

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Tuesday July 12 2011 9:14 am

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http://www.msnbc.msn.com/?id=11881780&q=Cramer’s+Investing+Basics+&search=&p=1&st=1&sm=user

The Emergency Economic Stabilization Act of 2008 (Division A of Pub. L. 110-343, 122 Stat. 3765, enacted October 3, 2008, commonly referred to as a bailout of the U. S. financial system, is a law enacted in response to the subprime mortgage crisis authorizing the United States Secretary of the Treasury to spend up to US$700 billion to purchase distressed assets, especially mortgage-backed securities, and make capital injections into banks (however, the plan to purchase distressed assets has been abandoned). Both foreign and domestic banks are included in the program. The Federal Reserve also extended help to American Express, whose bank-holding application it recently approved. The Act was proposed by Treasury Secretary Henry Paulson during the global financial crisis of 2008. The original proposal was submitted to the United States House of Representatives, with the purpose of purchasing bad assets, reducing uncertainty regarding the worth of the remaining assets, and restoring confidence in the credit markets. The bill was then expanded and put forth as an amendment to H. R. 3997 . The amendment was rejected via a vote of the House of Representatives on September 29, 2008, voting 205–228.
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“Greed is Good” Leeman Brothaz | [OFFICIAL VIDEO]

Wall Street bankers respond with rap music video blaming consumer behavior for the housing crash.

Topics:
Bank Bailout
Quantitative Easing
Socialism
Michael Moore
Capitalism
Fed
Ben Bernanke
Greenspan
Osama
Financial Meltdown
Subprime Mortgage
Gordon Gekko
Monetary Policy
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Credit Default Swaps
Derivatives
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Depression
Unemployment
Moral Hazard
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Target
Market
Viral
Wall Street Greed
Tarp

Written & Produced by Ted J. Papadopoulos
Directed by Adam Donald
Edited by Adam Donald & Victor Barczyk

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Twitter – @LeemanBrothaz
☯LeemanBrothaz@gmail.com☯

Duration : 0:3:30

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http://realestatemarketingthisweek.com – Real Estate Marketing – Foreclosure Rescue Scams and How to Protect Yourself – With Michael J Barnes, Brett Fallon and Dan Havey of Real Estate Marketing This Week

Part 7 – The Foreclosure Sharks, you have written this book or I think it’s called a white paper. Free report whatever you want to call it its packed full of really good and interesting information. It’s called The Foreclosure Sharks – A look at the rampant theft of Americans homes through foreclosure rescue scams.

And folks I have to tell you I think we’re going to spend the next week, the majority of the show talking about what the heck is going on out there. And what you need to do to protect yourself in case you should happen to be against this problem. You really need to know what your options are. This free report is available online at http://mortgageanswerman.com. You have got to get this. The information is really good, and one of the taglines that you have here Dan is, Theres blood in the water and the sharks can smell it.

Right. What made me actually write this was a number of years ago I had been working with people in foreclosure for years, and it was just a way to let them know what was going to be going on once the foreclosure was filed against them. Now in many cases, these people were already experiencing what was going on.

And again I’ve recently had a friend or two go through foreclosure and I had them collect all of the paperwork that they got from all of the foreclosure guys out there trying to help them sell their house or do whatever it was, and I was surprised at how thin the stack was. This one gal in particular, lives in Scottsdale in a very nice house and she didnt have more than maybe 6 letters. In the past, a couple of years ago, especially at the peak of the market, when somebody was in a foreclosure situation they would have seriously a stack 6 inches thick.

People would be knocking on their door 24 hours a day, calling them, dropping off stuff. There were cars driving by all the time and it really got to be a nuisance. And frankly I think it hurt the home owner and their standing in a neighborhood, with all of that traffic and of course everybody knew that they were having problems. So that is why the report was originally written and why I wanted to talk about it today because of all the foreclosures going on in the market right now.

Now let me ask you a question, you are saying that two years ago if I were in a foreclosure my mail box would be chock-full of marketing products. Youre telling me now that there is virtually none?

Well I think that part of it is that back then there was financing available to be able to come in and refinance the people. I certainly myself did dozens of loans, at least, to bail people out of bankruptcies and foreclosures, and also people had equity back then. Property values were continuing to go up. I forget how many scams I pointed out here in the book, I think there are 18 or something in here, and most of them are essentially people attempting to get your house away from you, either refinance it, sell it for you, take a lease option, there are all kinds of different scams involved, but I think the reason we see so much less of it today is because there is so much less equity. So if you are upside down by $300,000 in your house, i dont care how good of a scammer you are, you are not going to make a lot of money off that.

But there are a couple of scams going on right now that I want to talk about because there are a couple of things that happened just recently that harkened me back to when I first got started in real estate here in Arizona in the late 1980s. I was selling repos for Fannie Mae, Countrywide, and the Resolution Trust Corporation, which was in charge of selling off all of the real estate owned for the 1,800 or so Savings and Loans that failed in the late 1980s early 1990s. There were so many scams going on then, I mean we had just tons of vacant houses we were selling, and one of the big scams that I thought was actually being perpetrated on a friend of mine the other day is a little something known as rent skimming… http://realestatemarketingthisweek.com/foreclosure-rescue-scams-and-how-to-protect-yourself/

Duration : 0:6:36

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Wednesday July 13 2011 6:15 am

http://www.msnbc.msn.com/?id=11881780&q=Geithner+the+economy+is+still+strengthening+&search=&p=1&st=1&sm=user

The US subprime mortgage crisis was one of the first indicators of the late-2000s financial crisis, characterized by a rise in subprime mortgage delinquencies and foreclosures, and the resulting decline of securities backing said mortgages. Approximately 80% of U. S. mortgages issued to subprime borrowers were adjustable-rate mortgages. After U. S. house sales prices peaked in mid-2006 and began their steep decline forthwith, refinancing became more difficult. As adjustable-rate mortgages began to reset at higher interest rates, mortgage delinquencies soared. Securities backed with mortgages, including subprime mortgages, widely held by financial firms, lost most of their value. Global investors also drastically reduced purchases of mortgage-backed debt and other securities as part of a decline in the capacity and willingness of the private financial system to support lending. Concerns about the soundness of U. S. credit and financial markets led to tightening credit around the world and slowing economic growth in the U. S. and Europe.
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Duration : 0:6:15

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NEWS SUMMARY:

(Reuters) – The euro hit a two-month high above $1.36 on Friday on hopes the euro zone will find a durable solution for its debt crisis, while world stocks gained as robust GE earnings foreshadowed a stronger U.S. economy.
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(WSJ) Coffee, cotton and cocoa barreled toward highs, fueled by concerns of a shortfall in global supplies.
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(IPS) Farmers’ protests and the rise in corn tortilla prices in late December put temporary brakes on the Mexican Senate, which was preparing to lift the national ban on utilizing maize to make fuel alcohol, or ethanol.
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(WSJ) Reports indicating that inflation remains tame kept home-mortgage rates relatively steady this week, Freddie Mac’s chief economist said on Thursday.
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(Reuters) – Over the past two years, as U.S. unemployment remained near double-digit levels and the economy shed jobs in the wake of the financial crisis, over a million foreign-born arrivals to America found work, many illegally.

HEADLINES WITH LINKS:

T.R.I.A.G.E.

Commodity Futures

http://www.bloomberg.com/markets/commodities/futures/

Treasury 10-Year Yields Rise by Most in Six Weeks on Prospects for Growth

http://bloom.bg/e9vR4l

Euro hits 2-month high vs dollar, stocks gain

http://www.reuters.com/article/idUSTRE70D1FB20110121

Tight stocks prompt heavy spec buying in corn, soy

http://www.reuters.com/article/idUSTRE70K6XN20110121

Bar set high as stocks face pullback

http://www.reuters.com/article/idUSTRE70K74020110122

Coffee, Cotton, Cocoa Surge

http://on.wsj.com/ePrYWy

Commodities Prices Are Hitting Your Wallet

http://on.wsj.com/eNlWan

Mexico Tempted to Shift From Tortillas to Ethanol

http://www.ipsnews.net/news.asp?idnews=54206

Home-Mortgage Rates Steady

http://on.wsj.com/hCZXQk

Exclusive: Over a million immigrants land U.S. jobs in 2008-10

http://www.reuters.com/article/idUSTRE70J37P20110120

IMF warns about Arab world joblessness

http://www.presstv.com/detail/161174.html

12 Economic Collapse Scenarios That We Could Potentially See In 2011

http://bit.ly/gFwD8x

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http://www.lendinguniverse.com Can bankruptcy stop foreclosure? find top 10 home equity loans lenders on http://www.labailout.com contact Mortgage Lenders, private investors, hard money brokers and credit union who can potentially refinance while house is in foreclosure and arrange your loan fast. In addition to being directly connected to the lenders the website provides tools to optimize your request for hard money loan and tools to compare and keep track of multiple offers, Lenders compete- You decide.
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http://realestatemarketingthisweek.com – New Fannie Mae Streamline Loan Modifications may do more harm than good

Part 5 –

We do realize that there are situations that people are in that they want to be out of and we want to move past. We have back in the studio, the author of Real Estates Future also the author of The Foreclosure Sharks white paper, a fantastic manual that he has put together that you can get for free. Dan Havey thank you very much for coming back. You can get a copy of the white paper The Foreclosure Sharks at http://mortgageanswerman.com.

So Dan I know that you have brought the just recently released new Fannie Mae, Freddie Mac guidelines, with their streamlined modification process. This is the kind of thing where the consumer can go and do-it themselves, right?

Yes, except that we would certainly advise against that. These are the guidelines that Fannie Mae came out with; they are effective as of a couple weeks ago now. But with Christmas and the holidays I dont think a whole lot of people have figured out what this is all about yet. So as we said in the last segment the guidelines that they have come out with here, and what I have is a print out but I dont know that this is the whole thing because I have heard some commentary on this that actually says that it is much worse then I am about to relay to everyone on the air.

I am just going to pick out a couple points about this and then I will let Michael laugh about them because some of these things are just crazy in the fact that it doesnt really help the home owner and I also dont think it is going to move us past the conditions we have to get people some really good loan modifications, the kind of loan modifications that we are talking about where you actually employ an attorney to help you with your loan modification.

The reality of it is we need to get through this mess we dont need to stave it off, push it out further and in my opinion that is what this does. That is exactly what is going on here, there was an article I was reading by Fitch, which is one of the major bond rating firms and that is exactly what they said. They said that the alt-A arms are all coming back to roost now, I think the default rate was over 14% on all alt-A arms, being at least 90 days past due. And the comment in the article was something like, well we havent really seen a lot of losses from it yet and then it said in a caveat at the end, and we think its because they are not really foreclosing on any of these guys yet, so that is why they havent seen any losses. Well if you keep pushing it off into the future eventually you are going to have to see some of these losses.

We have the same thing here with Fannie Mae, which I think it is just another band-aid; it is not going to really solve the problem. First what they have here, and this one is pretty benign, that once they give you the new mortgage payment you have a three month trial period. If you make the payments during that trial period they let you keep the modification. So that one is not so bad.

The next one says that the qualified borrower cant be in litigation, bankruptcy, or have an existing work out plan, and you have to be at least 3 months behind or in foreclosure in order to be eligible for this streamline.

Ok I get to comment right? SO basically what Fannie Mae and Freddie Mac just told everyone, according to this that I am reading right here, Fannie Mae and Freddie Mac just told you to be 90 days late on your mortgage. That is exactly right, they said that the only way they were going to be able to help you was to be 90 days late on your mortgage.

So I have been, over the past several months, heck Dan you helped us put together the package, you are the cofounder of the modification hotline and I am on the radio every week when we do a little blip about load mods from time to time, saying dont trust anybody who tells you to be late on your mortgage. First of all no loan professional, no mortgage professional, no loan modification specialist will tell you to be late on your mortgage, however, Fannie Mae and Freddie Mac just said you need to be at least 90 days late on your mortgage if you want them to help you.

Duration : 0:6:53

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http://www.labailout.com Free foreclosure listing get lenders to fund for you. Go to http://www.lendinguniverse.com/BorrowersHardMoneyLoans.asp to contact foreclosure bailout lenders, private investors, hard money brokers and credit union who can potentially arrange your loan fast. In addition to being directly connected to the lenders the website provides tools to optimize your request for hard money loan and tools to compare and keep track of multiple offers, Lenders compete- You decide.
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Lenders competing
Loan modification
Commercial mortgage lenders
Conduit loans
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Commercial mortgage lenders
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Private mortgage leads
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Notary publics
Real estate agent
Commercial financing
Construction lenders
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Construction lenders
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Commercial mortgage brokers
Business property loans
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Private mortgage lenders
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Find a mortgage broker
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Commercial loan interest rates
Amortized loans
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Real estate lenders
Loan servicing software
Construction loans Los Angeles
Debt service coverage ratio
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Duration : 0:0:36

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http://RealEstateMarketingThisWeek.com Short Sale Experts Negotiate Your Real Estate Bailout – Mortgage Foreclosure Assistance Plan – Free Prevention Alternative to Foreclosure Fraud and Scams. http://RealEstateMarketingThisWeek.com will Help you Survive the Mortgage Meltdown Crisis. Avoid Foreclosure and Bankruptcy. Get your Bailout with our Real Estate Short Sale, Mortgage Foreclosure Loss Mitigation Prevention Process.

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Duration : 0:11:0

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