A Failsafe in a World of Falling Safes | TAPinto

When Farina tells her story, her eyes always tear at the word “foreclosure.” Her Orange home had four-bedrooms and was beautifully furnished but when the bank foreclosed after just a few months of her struggles, “I ended up giving almost everything away,” she said.

She remains hurt and confused about the quick foreclosure, but “I didn’t have anybody there to fight for me or show me the way.

”She was a victim of the predatory real estate shuffle in urban areas that got more than a few banks in hot water with the government, but she ended up with nothing but the satisfaction that the big lenders were fined. But satisfaction doesn’t pay the rent.

Source: A Failsafe in a World of Falling Safes | TAPinto

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Sure your Gooferment will protect you. Notice that this woman’s banks got off with a fine. Shovel more money into the Gooferment cesspool. Did they give it to her to get back what she lost — obviously not. Private charity is efficient and effective; Gooferment “charity” is immoral, ineffective, and inefficient. As well as untrustworthy. It’s a sham. And, it deceives “We, The Sheeple” into thinking that they don’t have to be individually responsible to fund charity because the Gooferment does it.

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GOVEROTRAGEOUS: Consumer Financial Protection Bureau’s proposal

From: WSJ.com Editors <access@interactive.wsj.com>
Date: Fri, Aug 10, 2012 at 12:10 AM
Subject: WSJ NEWS ALERT: Watchdog Offers Mortgage Rules
To: reinkefj

__________________________________
News Alert
from The Wall Street Journal

A federal consumer regulator is expected to propose Friday the first set of national standards for the mortgage-servicing industry, which has been riddled with problems in the wake of the housing bust.

Under the Consumer Financial Protection Bureau’s proposal, loan servicers would be required to evaluate homeowners’ applications for loan-assistance within 30 days of receiving an application and would be barred from going ahead with a foreclosure until a final decision has been reached on a borrower’s application for help.

http://online.wsj.com/article/SB10000872396390444900304577579591114136230.html?mod=djemalertNEWS

 

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Talk about locking the barn after the whole herd has left the building!

I can’t wait to see the details of this.

Does it “charge back” the originator with the costs. IBM used to have a commission back out program when a Customer was “lost”. Needless to say, they lost very few Customers and, when they did, a sales team exited with the Customer.

Does it set standards for downpayments, ARMs, negative amortization, and balloons? In the “old days”, home mortgages were 50% down and 5 years max. Needless to say there were few if any defaults. Compare that to the NIJA no down no income no job applications of the subprome mess. Clearly these protections should apply to the Donald Trumps. He can stand the loss, but the “little people” need to be taught the lesson.

As a little L libertarian, if I have to have Gooferment, let’s at least try to pretend it can do something.

Argh!

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