Blog
Stop the Bleeding First
August 15th 2009

These are "Historic Times" and we need to remember that everything works itself out.  The Bail Out takes us all back, we all sick of the wealthy and their companies getting the hand outs while the rest of us struggle.  But if there is a silver liner to this, the Government (Us) is bailing out the Banks (Our money) and buying mortgages (attached to valuable Real Estate) that, when the market turns, it always does, we can begin to sell, off these assets for profit.  Again strict oversight is the key.  It is obvious, where large government sound intrusive, without it those greedy, unscrupulous people out there will figure out how to use an unchecked system to their advantage.

The mess we are in has directly emanated from the where unscrupulous lenders, convinced consumers to buy more than they could afford, assuring them they could refinance before it became a "problem."  Then the Bleeding began.  The mortgage were negative amortization loans, and grew monthly.  The interest rates raised, but they were allowed to make minimal payments, again increases those loans.  When they began to readjust, the payments would be so high, they had no choice but to default.  The lenders were receiving default after default, the profits disappearing and their bottom line completely eradicated.  They began making fewer loans, tightening the guidelines, laying off employees, and having a profound effect on every company and service that is touched by this industry (surveyors, builders, brick layers, roofers, plumbers, electricians, retailers, home improvement, automobile dealers, title companies, attorney, all their employees, the companies that feed, clothe and serve them...what damage avalanche of Red Ink can do.  Just forgiving portions of existing loans would create more Red Ink, along with the existing Red Ink that has still not begun to flow, it is still coming, the loans are still out there.

We need to contact our legislatures had have them do this:

1.  STOP ALL FORECLOSURES.  This would stop the Bank Bleeding immediately.  Our country has a deep wound, the bleeding needs to be stopped before you can move forward to repair the damage and allow healing.
 
2.  Recast all loans at risk, fold in arrears, fix the rates at the start rate the lender gave them, for 5 years, then have them adjust no more than a 1/2% per year for a maximum of 4 years.  This would give the Economy time to recover, stop the bleeding, allow people to stay in their homes, and repair their credit.  This also shares responsibility with those who created this mess, the lenders, mortgage brokers, investment bankers and the Wall Street high rollers.  While bailing out the banks (a necessary evil) the root cause, is not corrected, the next waive of foreclosures will just be waiting in the back rooms of the Banking industry to create another waive of Red Ink.  If we make the Banks pay for their mistakes, we will go down with them, something I am not willing to do, I did not make bad decisions and don't want to pay for theirs.  The alternative, make them share.
 
3.  Give owners of any foreclosures still on the market an opportunity to buy back the home with the recasting system and remove the blemishes from their credit.  Currently these greedy lenders, take back the property, leave them vacant, refuse to do any repairs or even mow the lawn.  These homes become neglected, driving down the prices, further pulling the markets down.  Those who have lost their homes, give them an opportunity to repurchase through the recast system, and clean their credit.
 
4.  Require that the Federal Reserve not only reduce the current rates but that the rate decrease be trickled down to the consumer level of mortgage rates.  We have had many rate reductions over the past 4 years, yet the rates have stayed essentially the same.  Over the past 20 years, there has never been such a huge disparity between the Fed Rate and the Mortgage Rate, with the largest gap during the runaway market of 2003-2005.  Yes the banks were charged less money while lending money at a higher rate, making even more money on the backs of the consumer.  By taking the rates down to about 5%, it would allow, refinances to get many out of trouble, and bring new buyers into the market.  They need to re-institute the zero down mortgage loans, they were never the problem (ask any veteran).  The real problem was the low teaser rates, that created negative amortization monthly, and began adjusting creating a new payment based on substantially higher rates, with bloated loan amounts.  These lenders (mostly mortgage brokers) banked on the market continuing to rise, they did not see the potential Red Ink coming down the financial mountain of debt.
 
5.  Strict oversight on these lenders.  The problem was not subprime loans as we had known them before (for someone with a bankruptcy, or credit blemishes), oh no, they took that scenario and twisted into "rip off" loans disguised as "risky".  The loans that created this mess were the loans that had a super low start rate (to get people into more house than they could afford-very attractive to upwardly mobile individuals), payments so low they did not cover the interest much less principle, with adjustment that surprises based increased loan amounts as well as higher interest rates.  They knew the consumer would have to refinance within a few years, creating another built in income stream for them.  Then they added a "dash" of no documentation, making the numbers sing the tune they wanted, and you have a recipe for disaster, as disaster that could creep in again.  As a Realtor I am already receiving emails from unscrupulous lenders offering no doc, low doc, creative lending.   A home inspector I have dealt with actually got duped into one of these loans, he had no idea it was a negative amortization loan, and had to pay over $10,000 to get out of it.
>>>>>>>>>>>

 A $700bn bail-out to save the crumbling US economy was passed by the House of Representatives today.  The measure, rejected by the House on Monday, was passed comfortably this time by 263 votes to 171. Relieved traders sent the Dow Jones index up by more than 1.6% immediately afterwards.

Just before the vote Nancy Pelosi, the Democrat speaker of the House of Representatives said: "It's an important vote, it's a difficult vote. But it's a vote we must win for Mr and Mrs Jones on Main Street."

Republicans had blamed what they perceived to be Pelosi's partisan rhetoric before the previous vote for the bill being defeated by a margin of 228 to 206. On that occasion a majority of Republican representatives voted against the bill.

The rejection of the bill triggered the Dow Jones' biggest one day points drop in history. The measure was passed by the Senate on Wednesday.  The money will be used by the US Treasury to purchase toxic debts from banks in the US, thus freeing up the balance sheets of financial institutions and hopefully restoring faith in lending markets.

Following the rejection of the bill, which was proposed almost three weeks by Treasury secretary Henry Paulson, a number of amendments were made, including an increase of insurance for deposit accounts.  Presidential rivals John McCain and Barack Obama were said to be calling representatives from their respective parties right up until the vote to try to ensure the bill passed.

Comments (144) | Add Your Comments
 
1. oieltivvxs Says:
September 17th 2009 10:25 am
wks5Ew fpeircafamph, [url=http://afzzjtyvgupw.com/]afzzjtyvgupw[/url], [link=http://rgskrairnbzp.com/]rgskrairnbzp[/link], http://eojffivlvdaz.com/

2. vonny-thm Says:
October 11th 2009 09:33 am
Zinc PCA helps regulate sebaceous glands so looking for products with these type ingredients can help. soma nqx accutane :-( zithromax 30762 prednisone 927843 diflucan 62139

3. Buhric Says:
October 11th 2009 11:00 am
If you find sign of allergic reactions in your body like hives difficulty breathing swelling of your face lips tongue or throat. levitra 54953 ambien yajit tramadol 1046 carisoprodol =-]] doxycycline 2626

4. 11623466 Says:
October 11th 2009 05:32 pm
Here are some tips on treating male yeast infection. amoxicillin mkjfji ativan 3460 prozac vqdmsv diflucan emgpl meridia 5996

5. lEO_rETRo Says:
October 22nd 2009 03:14 pm
This results in fewer claims and encourages insurers to lower rates. life quotes oobos homeowners insurance =-]]]

6. paginaindex Says:
December 09th 2009 05:36 am

7. paginaindex Says:
December 09th 2009 05:35 am

8. paginaindex Says:
December 09th 2009 09:24 am
Don't hesitate! Iguana Generic viagra may be the right Generic viagra for you. order ambien mmfaed levitra 20690 cialis online 8-OOO

9. kittiesgomah Says:
December 10th 2009 10:08 pm

10. kittiesgomah Says:
December 10th 2009 10:08 pm

11. NenaPdorra Says:
December 12th 2009 12:03 pm

12. NenaPdorra Says:
December 12th 2009 12:02 pm

13. NenaPdorra Says:
December 12th 2009 12:04 pm

14. dadadumdums Says:
December 17th 2009 05:04 am

15. Spirit_of_Ping Says:
December 22nd 2009 09:01 am

16. fontklein1 Says:
January 06th 2010 12:51 am

17. lEO_rETRo Says:
January 11th 2010 05:01 am

18. delta Says:
January 19th 2010 03:34 pm
viagra >:[

19. xXFireBladeXx Says:
January 20th 2010 03:10 pm

20. dateline-location Says:
January 23rd 2010 07:13 pm

21. Fuga Says:
January 24th 2010 05:47 am

22. headline1 Says:
January 27th 2010 02:13 am

23. xxxxxx Says:
January 28th 2010 04:50 pm

24. formatvorlage1 Says:
February 10th 2010 02:33 am

25. formatvorlage1 Says:
February 10th 2010 02:34 am

26. formatvorlage1 Says:
February 10th 2010 02:34 am

27. BeatenBlood Says:
February 13th 2010 02:50 am

28. BeatenBlood Says:
February 13th 2010 02:50 am

29. BeatenBlood Says:
February 13th 2010 02:51 am

30. e6a9b8 Says:
February 14th 2010 08:24 pm

31. e6a9b8 Says:
February 14th 2010 08:25 pm

32. e6a9b8 Says:
February 14th 2010 08:25 pm

33. Buhric Says:
February 18th 2010 12:44 pm

34. Buhric Says:
February 18th 2010 12:44 pm

35. Buhric Says:
February 18th 2010 12:45 pm

36. Frizzlsnits Says:
March 03rd 2010 04:03 am

37. Frizzlsnits Says:
March 03rd 2010 04:03 am

38. Frizzlsnits Says:
March 03rd 2010 04:04 am

39. Slayer980 Says:
March 06th 2010 04:25 pm

40. Slayer980 Says:
March 06th 2010 04:25 pm

41. Slayer980 Says:
March 06th 2010 04:26 pm

42. FakeDeath Says:
March 13th 2010 03:38 am

43. FakeDeath Says:
March 13th 2010 03:39 am

44. FakeDeath Says:
March 13th 2010 03:40 am

45. babylees Says:
March 18th 2010 11:19 pm

46. babylees Says:
March 18th 2010 11:19 pm

47. n0ak Says:
March 19th 2010 12:32 pm

48. n0ak Says:
March 19th 2010 12:32 pm

49. n0ak Says:
March 19th 2010 12:33 pm

50. vinylram Says:
March 21st 2010 12:41 pm

51. vinylram Says:
March 21st 2010 12:42 pm

52. vinylram Says:
March 21st 2010 12:43 pm

53. Karenag Says:
March 21st 2010 06:17 pm
Howdy, When ever I surf on web I come to this website[url=http://www.weightrapidloss.com/lose-10-pounds-in-2-weeks-quick-weight-loss-tips].[/url]You have really contiributed very good info here www.janlowery.com. Frankly speaking we really do not pay attention towards our health. Let me present you with one fact here. Recent Research displays that about 50% of all United States adults are either chubby or weighty[url=http://www.weightrapidloss.com/lose-10-pounds-in-2-weeks-quick-weight-loss-tips].[/url] So if you're one of these citizens, you're not alone. In fact, most of us need to lose a few pounds once in a while to get sexy and perfect six pack abs. Now the question is how you are planning to have quick weight loss? [url=http://www.weightrapidloss.com/lose-10-pounds-in-2-weeks-quick-weight-loss-tips]Quick weight loss[/url] is not like piece of cake. You need to improve some of you daily habbits to achive weight loss in short span of time. About me: I am writer of [url=http://www.weightrapidloss.com/lose-10-pounds-in-2-weeks-quick-weight-loss-tips]Quick weight loss tips[/url]. I am also health expert who can help you lose weight quickly. If you do not want to go under hard training program than you may also try [url=http://www.weightrapidloss.com/acai-berry-for-quick-weight-loss]Acai Berry[/url] or [url=http://www.weightrapidloss.com/colon-cleanse-for-weight-loss]Colon Cleansing[/url] for effortless weight loss.

54. sgmpswgb Says:
March 23rd 2010 11:34 am
sayybxkn [URL=http://vkrtfeya.com]kdyugzpa[/URL] vyuienvs http://jihseccl.com hxbwwucu mvmuycks

55. sgmpswgb Says:
March 23rd 2010 11:35 am
sayybxkn [URL=http://vkrtfeya.com]kdyugzpa[/URL] vyuienvs http://jihseccl.com hxbwwucu mvmuycks

56. ptbaeyst Says:
March 23rd 2010 11:37 am
oucbakvt [URL=http://zwrgalos.com]rhssvslj[/URL] yibihltr http://pqrtvyqy.com hslbiuze xueeaxsv

57. ptbaeyst Says:
March 23rd 2010 11:38 am
oucbakvt [URL=http://zwrgalos.com]rhssvslj[/URL] yibihltr http://pqrtvyqy.com hslbiuze xueeaxsv

58. Xtrifor Says:
March 25th 2010 10:33 am

59. Xtrifor Says:
March 25th 2010 10:34 am

60. Xtrifor Says:
March 25th 2010 10:34 am

61. wholesale Mobile phone battery Says:
March 26th 2010 11:33 am
cheap cell phone battery suppliers,Which one do you like very best? Phone electric batteries or cellphone accessories?The suppliers price real very cheap!No Minimum quantity!Start here Earn High Profit Margin mobile phone batteries accessories wholesale

62. wholesale Cell phone battery Says:
March 28th 2010 10:58 am
Thank you for hosting such a creative weblog. Your website happens to be not only informative but also very inventive too. There are very few people who can think to write not so easy content that creatively. we keep searching for content on a subject like this. I have gone in detail through dozens of websites to find knowledge regarding this.Looking to many more from your site !!

63. Organic green Tea Says:
March 30th 2010 11:50 am
Thanks for keeping great posts! Free Green tea weigth loss tea

64. onoffon Says:
March 31st 2010 04:05 am

65. onoffon Says:
March 31st 2010 04:05 am

66. onoffon Says:
March 31st 2010 04:06 am

67. n0ak Says:
April 16th 2010 04:40 pm

68. n0ak Says:
April 16th 2010 04:41 pm

69. free trials Says:
April 17th 2010 05:38 am
Thanks for letting us know about this. I appreciate your effort a lot.

70. LeBron James shoes Says:
April 19th 2010 09:12 pm
Thanks for this useful article. LeBron James shoes

71. RFID Reader Says:
April 20th 2010 03:35 am
nice to be here.... thanks for share RFID Reader

72. free game download Says:
April 20th 2010 07:21 am
One again, your idea is very good.thank you!very much. Your site is very useful for me .I bookmarked your site!

73. Wholesale polo shirts Says:
April 22nd 2010 11:57 am
I agree with your Blog and I will be back to check it more in the future so please keep up your work. I love your content & the way that you write. It looks like you’ve been doing this for a while now, how long have you been blogging for?

74. 040LAAFCM Says:
April 22nd 2010 04:23 pm

75. 040LAAFCM Says:
April 22nd 2010 04:23 pm

76. 040LAAFCM Says:
April 22nd 2010 04:24 pm

77. international calling cards Says:
April 23rd 2010 05:57 am
Nice Information.. Thx for sharing this information

78. Hermes birkin bag Says:
April 24th 2010 02:01 am
One again, your articles is very good.thank you!very much.

79. nike dunk low Says:
April 25th 2010 04:02 am
After reading you site, Your site is very useful for me .I bookmarked your site!

80. wholesale mlb jerseys Says:
April 26th 2010 04:31 am
Thank you for your great content.

81. disability insurance Says:
April 27th 2010 01:32 pm
good share, great article, very usefull for us...thanks!

82. atlanta cheap tickets Says:
April 28th 2010 06:42 pm
thanks for great informations It's a wonderful

83. cheap mbt shoes Says:
April 30th 2010 03:07 am
great share, great article, very usefull for me...thank you

84. zwteuwcdbn Says:
May 04th 2010 06:48 am
TtQKbR stiqvmilsleq, [url=http://nnrsdcjrmthp.com/]nnrsdcjrmthp[/url], [link=http://ipsapyuyvowv.com/]ipsapyuyvowv[/link], http://xuywlofzyfqn.com/

85. zwteuwcdbn Says:
May 04th 2010 06:49 am
TtQKbR stiqvmilsleq, [url=http://nnrsdcjrmthp.com/]nnrsdcjrmthp[/url], [link=http://ipsapyuyvowv.com/]ipsapyuyvowv[/link], http://xuywlofzyfqn.com/

86. zwteuwcdbn Says:
May 04th 2010 06:49 am
TtQKbR stiqvmilsleq, [url=http://nnrsdcjrmthp.com/]nnrsdcjrmthp[/url], [link=http://ipsapyuyvowv.com/]ipsapyuyvowv[/link], http://xuywlofzyfqn.com/

87. Panic Attacks Says:
May 07th 2010 01:32 am
very well information you write it very clean. I'm very lucky to get this information from you.

88. Hermes birkin bag Says:
May 09th 2010 01:19 pm
great information you write it very clean. I'm very lucky to get this details from you.

89. steel golfclubs Says:
May 12th 2010 03:16 pm
I just sent this post to a bunch of my friends as I agree with most of what you’re saying here and the way you’ve presented it is awesome.

90. love calculator Says:
May 15th 2010 12:42 am
You certainly have some agreeable opinions and views. Your blog provides a fresh look at the subject.

91. buy vemma Says:
May 16th 2010 07:18 pm
Thank You For This Blog, was added to my bookmarks.

92. lcd reviews Says:
May 17th 2010 07:40 am
I find myself coming to your blog more and more often to the point where my visits are almost daily now!

93. seized cars Says:
May 17th 2010 02:30 pm
Great Blog. I add this Blog to my bookmarks.

94. sunglass armani Says:
May 21st 2010 02:52 pm
great share, great article, very usefull for me...thank you

95. sunglasses shop Says:
May 27th 2010 12:43 pm
Good journey and experience!

96. scuba diving Says:
May 30th 2010 02:09 pm
You certainly have some agreeable opinions and views. Your blog provides a fresh look at the subject.

97. Canon wide lenses Says:
May 31st 2010 03:06 pm
I’ve been visiting your blog for a while now and I always find a gem in your new posts. Thanks for sharing.

98. Na Zdrowie Says:
June 01st 2010 07:29 am
Thank You For This Blog, was added to my bookmarks.

99. Fotki Says:
June 01st 2010 02:27 pm
Very informative post. Thanks for taking the time to share your view with us.

100. Gry Online Says:
June 02nd 2010 05:43 am
Great Blog. I add this Blog to my bookmarks.

101. Wycieczki Says:
June 02nd 2010 01:58 pm
I’ve been visiting your blog for a while now and I always find a gem in your new posts. Thanks for sharing.

102. steel golf clubs Says:
June 04th 2010 07:31 am
Thank You For This Blog, was added to my bookmarks.

103. Pharmb933 Says:
June 08th 2010 07:52 am
Hello! egaecce interesting egaecce site!

104. Pharma576 Says:
June 08th 2010 07:53 am
Very nice site! cheap viagra

105. Pharmk494 Says:
June 08th 2010 07:53 am
Very nice site! [url=http://yieapxo.com/qoqats/2.html]cheap cialis[/url]

106. Pharmf714 Says:
June 08th 2010 07:53 am
Very nice site! cheap cialis http://yieapxo.com/qoqats/4.html

107. Pharma844 Says:
June 08th 2010 07:53 am
Very nice site!

108. Pharmd256 Says:
June 08th 2010 07:53 am

109. cheap_cialis Says:
June 11th 2010 11:03 am

110. buy_viagra Says:
June 17th 2010 10:00 am
Hello! buy viagra , viagra ,

111. cialis Says:
June 18th 2010 12:47 pm
Hello! cialis , cialis ,

112. viagra Says:
June 22nd 2010 05:46 pm
Hello! viagra , cialis , buy cialis , viagra ,

113. Pharmb416 Says:
June 23rd 2010 09:50 am
Hello! edebbke interesting edebbke site!

114. Pharmf529 Says:
June 23rd 2010 09:51 am
Very nice site! cheap viagra

115. Pharmk243 Says:
June 23rd 2010 09:52 am
Very nice site! [url=http://opeyixa.com/rvqatx/2.html]cheap cialis[/url]

116. Pharmb0 Says:
June 23rd 2010 09:54 am
Very nice site! cheap cialis http://opeyixa.com/rvqatx/4.html

117. Pharmd316 Says:
June 23rd 2010 09:55 am
Very nice site!

118. Pharmd566 Says:
June 23rd 2010 09:56 am

119. cheap_viagra Says:
June 23rd 2010 03:02 pm

120. cialis Says:
June 25th 2010 05:48 am
Hello! cialis , cialis , buy cialis , cialis ,

121. cheap_viagra Says:
June 30th 2010 06:41 am
Hello! cheap viagra , cialis , viagra ,

122. cialis Says:
July 01st 2010 06:15 am
Hello! cialis , buy viagra ,

123. cialis_online Says:
July 02nd 2010 03:18 am
Hello! cialis online , viagra ,

124. cialis Says:
July 05th 2010 02:29 am
Hello! cialis , viagra ,

125. viagra_online Says:
July 06th 2010 06:55 am
Hello! viagra online , cialis ,

126. cialis Says:
July 07th 2010 12:16 am
Hello! cialis , buy viagra ,

127. cialis Says:
July 08th 2010 03:31 am
Hello! cialis , viagra ,

128. cialis Says:
July 09th 2010 01:14 am
Hello! cialis , viagra online ,

129. viagra Says:
July 12th 2010 01:47 am
Hello! viagra , cheap cialis ,

130. viagra Says:
July 14th 2010 03:31 am

131. cialis Says:
July 15th 2010 04:32 am
Hello! cialis , viagra , viagra ,

132. cialis Says:
July 17th 2010 03:09 am
Hello! cialis , cialis ,

133. cheap_cialis Says:
July 19th 2010 12:15 am
Hello! cheap cialis , viagra ,

134. viagra Says:
July 20th 2010 01:46 am
Hello! viagra , cialis ,

135. Wikipedia YouTube Says:
July 20th 2010 11:03 pm
A Olq is amazing! [url=http://en.wikipedia.org/wiki/Youtube]Wikipedia YouTube[/url] Wikipedia YouTube

136. cialis_online Says:
July 22nd 2010 03:15 am
Hello! cialis online , viagra ,

137. vemmaae Says:
July 22nd 2010 04:02 am
I’ve been visiting your blog for a while now and I always find a gem in your new posts. Thanks for sharing.

138. cialis Says:
July 23rd 2010 03:48 am
Hello! cialis , cialis , cheap viagra ,

139. cialis Says:
July 26th 2010 02:20 am

140. viagra Says:
July 27th 2010 05:18 am
Hello! viagra , cialis , cheap cialis ,

141. vemmaal Says:
July 27th 2010 01:45 pm
I’ve been visiting your blog for a while now and I always find a gem in your new posts. Thanks for sharing.

142. buy_viagra Says:
July 28th 2010 05:14 am

143. viagra Says:
July 29th 2010 04:39 am
Hello! viagra , viagra , cialis ,

144. viagra Says:
July 30th 2010 04:48 am
Hello! viagra , viagra , cheap viagra ,


Back