This is Why You Are Not Getting a Loan Modification!

[Moe Bedard]

YOU ALL ARE PAWNS IN A BANKING CHESS GAME

Please watch this video to understand what banks are doing with mortgages and in the commercial real estate market. There is a saying in the banking industry that they call a “rolling loan.” Hence, a rolling loan gathers no loss. What they are doing is kicking the mortgage can down the road in order to show some earnings on the banks books now and report losses later.

Essentially, the banks are legally manipulating their books and loses to how they see fit. It is not personal, it is business and homeowners may be getting the shaft in this banking business plan. It is like the game monopoly, but with real people, houses, foreclosures and lives being moved like pieces on a board for the greater good of our economy. And of course, the banks books…..

Please watch the video below on Fox with Leo Wells. He explains how this monopoly game works. It doesn't look good for you all. This is a sneak peak at how this all works and do no try and make it anything more.

As I have said, you are all their sheep that must go to slaughter....

PLEASE WATCH: Rolling Loans: A Video on How Banks Are Kicking the Mortgage Can Down the Road to Show Earnings | Loans - Credit - Debt - LoanSafe.org

[bnrbnsn]

A Government that walks softly but does not carry a big stick, only governs lightly.

[Someidiot]

Its okay ,, they can keep the house with negative equity and a stain that i will NOT CLEAN ... I will take the AC Unit with me as well for the summer... Headlines will read,, buyers of foreclosed properties want A refund!! HAHA

[Moe Bedard]

A Government that walks softly but does not carry a big stick, only governs lightly.

Most people cannot fathom that there is a hidden agenda and why they are not getting help. That agenda is not to save homes, but to scientifically govern the foreclosure crisis by letting the majority of borrowers go to foreclosure in order to revive and stabilize the economy.

I definitely know that what may be said for PR's sake is not always best for the greater goods sake. Hence, always think of the master plan or greater good and not yourself. This will put you miles ahead of those that cannot or do not want to see the truth.

[Someidiot]

The agenda should be doing what ever it takes ,, i mean ALL of us for banks NOT to want our homes... Neiborhoods are already changing mortgage prices will drop even further,, this is what banks will not tell you,, even if you are lucky enough to get a loan mod,, they know it will drop even further and the employment situation along with the USA deficit is NOT helping .. If big banks that are too big to fail continue with that,,, imagine what a beautiful state like california would look like...

[Someidiot]

Imagine what it would look like when you cut off Mario to do your lawn for under minimum wage... Then instead of seeing a silver door knob next to a gold and diamond door knob,, you will be seeing grass taller than trees...

[helpsavemyhome]

Very interesting!! Thanks for posting, Moe!

[Moe Bedard]

My pleasure.

They can manage and mitigate the losses on a massive scale like it is being done now. They will manage this for certain price ranges to stabilize values as much as they can. I know because I see this in the city I live, Temecula. They are holding and releasing the lower price homes, $150-250k range to cause bidding wars. The higher price props are sitting and yes, values are going down.

But what most people fail to realize is that,

A. It's not really the banks money, but the depositors and investors. They are just good will managers of it.

B. A bank will kick the can down the road and lose a little in order to have massive profits later. You all are digits in a book and some banker would say, "a lost cause."

My guess is that this is a 3-7 year plan of playing monopoly with borrowers, homeowners, Realtors and the media.

[Someidiot]

The SINGLE MOST POWERFUL THING FOR PEOPLE LIKE US IS OUR SHEAR POPULATION NUMBER AND IF WE CAN PRODUCE ENOUGH MEDIA.... SO IF IT WAS OUR TURN TO MOVE IN A CHESS GAME AS A WHOLE AND AS A GIANT BIGGER THAN A BANK,, WHAT CAN WE ACTUALLY DO TO MAKE BANKS AND INVESTORS NOT WANT OUR PROPERTIES?? IM SURE HALF OF YOU KNOW THE ANSWER...

[Someidiot]

If we can get enough people to think outside the box that is a good start.. Slowly you can tell the indirect language that the media stresses... I will give you one hint... They are giving average of 1500 to relocate,, now its up to about 3000,,, but i will not even take 5000,, ask me why.... What they are saying is,,,

gov: We just want this mess over with,,, this is a faster way with short sales and paying people to leave

investors & banks,,, please leave without the costly foreclosure process and please leave it in sellable condition....

People,,, lets work this out otherwise its false hope and people will rebel...

Fact is we live here,,, its up to you to fight for what you believe,, dont believe banks and false hopes,,, we do not live on hopes,, we live on food and shelter...

[Moe Bedard]

We have tried this and many other organizations have also. The facts are that you are one of the very, very few homeowners willing to go out and organize, fight, protest etc. 97% of the people will just take it on the chin, get up, brush off their knees and move on.

I have been operating this forum for 3 years and have seen it all, it ain't gonna happen. The best thing to do is , UNDERSTAND how this world really works and do our best to fit in it without getting slaughtered. If you get slaughtered financially or property wise, take it as a lesson learned and move on.

I honestly feel that anything else is a waste of energy and time. It is best to spend that energy on you and improving your life instead of fighting a GOLIATH YOU CANNOT WIN.

[jerefernan]

can you break it down for me guys? can't seem to wrap my mind around this--why does not granting modifications help the bank?

[Someidiot]

We are not robots... We are not dogs... We are bright people and we have more people than the bank... Besides,, i think the 3 percent that was left out was for the rich... Its time the investor knows they will get 25-35 cents on a dollar for homes... By then half of home owners will pay cash and or will go with a smaller bank... You will see neighbor hoods with 10-15 per household just like it was yesterday,,, then the next street you will see the the wealthy with 4 per household even if that's how it would look like i wonder how living conditions will be... Bullet proof glassed Mcdonalds will be what it looks like... The moment we give up is the moment we die,, If anyone tells you other wise ask him whats in it for him...

Damn those kids with graffiti,, wait who left the water on

Even if you let them have your property,, you would still want to buy it back even waaaay cheaper,, to me its a gain gain situation... If majority of properties are not in sellable condition,, not only will it CREATE jobs,, the "real problem" it will also make housing waaay more affodable ,, our kids will be manufacturing the brick and mortar hopefully the govt will allow our kids to have a job otherwise pay gold prices for brick or make your own..... Its that simple... The USA MANUFACTURES NOTHING AND EVEN IF WE DO,, THE MACHINES WILL DO A BETTER JOB... PEOPLE WILL BE MACHINE OPERATORS OR STANDING THERE TO DO NOTHING LIKE GOV WORKERS...

There is no media more powerful than word of mouth!! Use it... Tell a friend... Tell them the situation and what you believe... The moment we stop is the moment we die

[Moe Bedard]

can you break it down for me guys? can't seem to wrap my mind around this--why does not granting modifications help the bank?

They are kicking everything down the road. Almost 50% of loan modifications end in default and I believe it is getting worse. They know this. Why give someone they know most likely will default a permanent modification or help if it is a failure waiting to happen.

It is better to just kick the loan modification can down the road and wait to see what happens or wait for them to give up. Either way, if they foreclose on you, that is still a loan on the banks books at full value.

In addition, loan mods make the banks $0 money and making new home loans and refinances makes them a lot. It is better to foreclose on you now and so they can make more money later on some fresh mortgage meat.

[Diesel]

can you break it down for me guys? can't seem to wrap my mind around this--why does not granting modifications help the bank?

Because of TARP! The government is backing their losses!

Therefore, less incentive to work an agreement.

[Someidiot]

Yes Moe,, they should do nothing until this weathers out... Nothing is making this better,, it should be called the Nothing making it worse mod program... Its like watching a obama *****... Damn i voted for that guy too... They should Halt ALL foreclosures,, Fix this mess and hold leaders accountable... Investors i hope you are reading this.. Don't be a moron and dump more money into this mess,, the gov needs to learn how things work and not abandon problems... didn't obama say because its the right thing? How about we vote on who is to blame.. How about extending emergency benifits untilt he problem is solved? How about the unemployed troops returning to the usa being tricked to fight a war and leave USA citizens to die from starvation haha yeah this is why we are NUMBER 1 NATION!! GO USA!!!

[BofAnightmareJenn]

They should Halt ALL foreclosures,, Fix this mess and hold leaders accountable... Investors i hope you are reading this.. Don't be a moron and dump more money into this mess,,

OK - I agree...........but what do I do in the meantime -

My foreclosure date is 5/14. I'm supposedly being sent modification papers (was a sense of urgency back last Thursday and still have not seen anything) of which isn't going to be a very 'comfortable' payment anyways. I see the immediate band-aid but not a 'fix'.

Do I do the modification and prolong the process until I read up on the law and figure out my next step?

[houseofdreams]

Moe, your killing me.
What has all this been for?
I cant believe that this is it, and all the steps weve taken have been for nothing.
If i stop believing than i should probably pack our family up and get out of here now.
Thats not going to happen. I'm not leaving.
Is that what your saying we should do?
What is the point of your post?
You see, as much as we like to think the answers are in the media, the government and people of power, the actual "truth" is what will get us all through this and that story my friend, has never been told.
Exposure.
Our stories need exposure.
If we can find the time to see how "Kate with Eight" did on Dancing with the Stars last night then maybe this isnt over.
It seems you have some influence, have you tried to put it to use?
I'm one woman whose trapped in a foreclosure and i choose to believe its a new angle the bank has found to drain more money out of us until they slap us with 40 more years.
I think my jail sentence will be 40 more and i'll probably bend over and take it but at least (in my case) i'll retain what i starting fighting for.
in that case, the "win "is good enough for me.
My childrens home is worth all my aggravation.
These practices will be exposed.
When? that, i dont know but i'm sure as hell going to wait it out.
Everything changes.
Everything changes.
the world keeps moving and things keep shifting.
stories are told.
People open their big mouths.
Enough people get angry.
Even the beast has to move in this chess game.
if i were to guess, i would say that the pawns have fell to the wayside and the strong are still lingering in the background.
Lets find answers to keep moving toware their "king".
Its like everytime something major happens, the media jumps to conclusions and we often see them retracting and re-writing the entire story.
Who really knows what the heck is going on, anyways?


-house of dreams

[Tarot]

Its okay ,, they can keep the house with negative equity and a stain that i will NOT CLEAN ... I will take the AC Unit with me as well for the summer... Headlines will read,, buyers of foreclosed properties want A refund!! HAHA

I will also take the air conditioner with me. I bought it last october. Also I have half laid wood floors upstairs, 1500 sqf. It's a floating floor system and is going to float with me to my new place. As well as the granite counters, if they don't fit my new kitchen, I'll have them cut down for my bathrooms. And the high end lighting fixtures and ceiling fans, not to mention the stainless frig and range...even if I move into an apartment or mom's house, it's going with me. And the 30 year old windows that are falling in, the bank can keep those along with 30 year old wiring that someone in the mid 80's inexpertly rewired so that the house barely meets code.

Oh I also have a roof that leaks. And holes in my ceiling from rewiring for those new lighting fixtures. And a new pool pump my brother needs.

My lawyer told me about one of his clients who poured cement down the drains of his formerly $900K house--the bank is suing him. But what are they going to get out of it? A civil judgment that will be wiped out in bankruptcy?

[jerefernan]

hey Moe and Diesel--thanx for the explanation--it's clearer now--

[helpsavemyhome]

OK - I agree...........but what do I do in the meantime -

My foreclosure date is 5/14. I'm supposedly being sent modification papers (was a sense of urgency back last Thursday and still have not seen anything) of which isn't going to be a very 'comfortable' payment anyways. I see the immediate band-aid but not a 'fix'.

Do I do the modification and prolong the process until I read up on the law and figure out my next step?

Jenn, just keep in mind that there are many people on these boards that have been told that once you sign docs for a mod, you cannot reapply for 12 months. Personally, I REFUSE to sign any offer that is not affordable for us.

[Someidiot]

I mention each and everytime i called BOA about this forum... I think a good number of them know what it is... I call BOA just to stall another employee,, i know im getting the run around and i know banks will not help me... Yes all that work for nothing,, all that you hear in the media is BS,, i'm waiting for the first wave of foreclosures for people to realize there is no hope coming from the banks while investors and the gov reap all the benifits... I'm waiting for America to realize what was taken from them in the most deceptive ways... You have every right to get mad... That cement idea is Genius,, we just need that to hit the media... Imagine how mad that guy go to do such a brilliant thing,,, he is the superman man of foreclosures.. the superman of the come take my home modification plan...

[Tarot]

That cement idea is Genius,, we just need that to hit the media... Imagine how mad that guy go to do such a brilliant thing,,, he is the superman man of foreclosures.. the superman of the come take my home modification plan...

That might be why they are suing him; they don't want to spread the idea.

It's not something I would do, but...

[Moe Bedard]

Moe, your killing me.
What has all this been for?

This forum is for those that need help in coping with foreclosure, loan and debt problems. A place to share information and support one another through this difficult time.

I cant believe that this is it, and all the steps weve taken have been for nothing. If i stop believing than i should probably pack our family up and get out of here now. Thats not going to happen. I'm not leaving.
Is that what your saying we should do? What is the point of your post?

The point of my post is to wake you all up to the reality in which you face. We can stick our heads in the sand and believe that HAMP, .Gov and the banks are going to save you, but it ain't gonna happen. By all means, do not give up, but do not think you are gonna get some type of life raft.

You see, as much as we like to think the answers are in the media, the government and people of power, the actual "truth" is what will get us all through this and that story my friend, has never been told.
Exposure.Our stories need exposure.

They have got a lot of exposure. This forum is a living diary that they all can witness daily. Every day there is stories in the media, but what good will all these stories in the news do in the end? Nothing....

If we can find the time to see how "Kate with Eight" did on Dancing with the Stars last night then maybe this isn't over.

That is the problem, the other millions of people not losing their homes could care less about this issue since is not affecting them. They would rather watch Kate with eight or American Idol than help their fellow brothers and sisters.

It seems you have some influence, have you tried to put it to use?

Yes, I have been in the media numerous times, have spoken with banking execs, marched in Washington, raided Barney Franks and Schumers offices, trespassed on Wall Street CEO drive ways and have blogged my life away for 3 years. Not many people have done as much as I to expose your stories.

My childrens home is worth all my aggravation.

By all means, KEEP FIGHTING, but just know what you are dealing with. It is business and a careless economic machine.

Who really knows what the heck is going on, anyways?

I do and I have explained it all to you as simply as possible in this thread.

[scarylarry]

OK - I agree...........but what do I do in the meantime -

My foreclosure date is 5/14. I'm supposedly being sent modification papers (was a sense of urgency back last Thursday and still have not seen anything) of which isn't going to be a very 'comfortable' payment anyways. I see the immediate band-aid but not a 'fix'.

Do I do the modification and prolong the process until I read up on the law and figure out my next step?

bofanightmarejenn,

Sorry to hear of your development (5/14). What part of the Country are in?
I just got a lawyer who can make a difference for me (I pray) The only problem is he doesn't take many clients.I was reluctant to go that route but it seems to be the only way now for me. I have turned down 2 mods now. I was going to walk away but learned about all the fraud and a lawyer who can use that against the bank/lender/investor .I am not saying that is right for you. There are not many capable attorneys around the country.