The Consumer Continues to be Mislead and Swindled = Business as Usual in America

[Moe Bedard]

Consumers do not have a chance is America. This country is ran by greed and snake oil salesman who peddle their wares in just about every imagineable form of commodity and service.

The Great American Swindle has been going on for ions folks. We are just now in the “Great American Homeowner Swindle” phase. These snake oil salesman have figured a way to scam Americans and investors on one of the highest price ticket items that a consumer could purchase (a home and mortgage).

Clever little bastards. Aren’t they?

This is not a new business model that was thought of over night. It’s as old as dirt and still, people fall for these same scams that just reinvent themselves into new forms of consumer fraud and deceptive business practices.

As a consumer advocate, I am warning homeowners to not fall for any of the foreclosure and investor scams that are now being played out all over America in this crisis. Hell, these cats need to make money somehow and now, the money is being made off of the fears of the people.

Sick, isn’t it?

Below is my list of modern day snake oil salesman. This is not rocket science folks. All of them are selling something and they live off of commissions from the goods or service they are selling.

• Talk to a Realtor and it’s always good to buy or sell real estate.
• Talk to a mortgage broker and they can always get you a loan or at least fix your credit or they are now loan modification specialist.
• Speak with a bankruptcy attorney and everyone should claim bankruptcy.
• Watch CNBC’s Squawk on the Street and all the stock analysts say it’s a great time to buy their crappy, shot out stocks.

Of course they are going to encourage you to do whatever it is that will make them the most money! Plus they need to make their BMW payments, office overhead and pay for the trip to Tahiti.

Guess what consumer? You’re paying for it! One way or another. Just like you paid for Governor Spitzer’s sexcapades, you continue to get milked via taxes, scammers and fraudsters that dress up as government officials, Wall Street gurus, real estate agents with their goofy grins and lame Realtor pins.

1. Realtors- Urging you to do a short sale or buy and REO, so they can make a commission off of your misery and other people’s misery. Or worse, they are now REO and loss mitigation specialists that can help you save your overpriced home that they sold to you for a small fee. The facts are that the market sucks and if you buy a home now, then you are making a huge gamble and I am sure that some snake oil salesman influenced your buying decision. You buy a bad investment and they make their BMW and house payment one more month. Next sucker, I mean home buyer……………
2. Mortgage Brokers - They are now loan modification specialists and for $3 grand they can save your home. Quite ironic because they were the ones that defrauded you and sold you a toxic loan. Now, they are going to save you and fix your loan for a fee. Barf! If you do business with these guys, you get what you deserve. Sorry, but Moe warned you too many times.
3. Bankruptcy Attorneys- They say almost everyone in foreclosure should claim bankruptcy. In a lot of cases this will hurt you more than it helps. Bankruptcy is all about timing and if you want to stay in your home and negotiate with the bank, then it needs to be done right. Unfortunately most BK attorneys have no idea how to deal with lenders or when to time the BK in the loan workout process. So, many homeowners end up throwing away their last $2-3k to stop foreclosure with a clueless BK attorney who is cashing in on the homeowner BK craze.
4. Investment Brokers- Great time to jump in the market and buy stocks in China because the trillions in investments we sold you before are actually junk/crap. Sorry, my bad. But hey, overseas looks great or how about some recession stocks like alcohol and drugs. Now that we have made the American people miserable, they will drink, smoke and take drugs to conceal their misery.
5. Hope Now- The same guys who have buried our nation and your family with toxic mortgages are now a merry band of do gooders going around from city to city helping the very people that they have swindled billions from. Puke!

Come on America, wake up and smell the scams! The American consumer needs to stand up and this is our time to demand that the swindling of the people needs to stop. This is not going to happen if we continue being a voiceless and faceless nation.




This great country has given you protection under the First Amendment to speak your voice and be heard without fear of retaliation or incarceration.

“ Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.”

I believe the American consumer and homeowner should stand up and fight these institutions and petition the Government. We need to demand that justice is brought and fairness to the mortgage and housing crisis. Not for the banks, but for the people!

Because the only fairness that are Government is allowing are to the very institutions and markets that have caused the American people to suffer what may become the new “Great Depression.”

original link to my blog = The Consumer Continues to be Mislead and Swindled = Business as Usual in America

[farawayangel]

Moe

The sad truth is that we the home owners do not own a stock in wall street, Like bear and sterns, Now if we did the government would hurry up to bail us out.It is a shame that the government says it is the homeowners fault. I still see the same types of loans floating around still after all that has happened. It makes me wonder what is really going on here?

It would seem that of all the so called programs that are out there now would relieve this mess. But it has not. The American dream is gone. As long as there are greedy people there will be pain. We have lost compassion for our fellow human being. Why should we care about our neighbor anymore? We are to busy following that almighty dollar.
Then when someone comes alone like you; They make you seem like the devil himself. In the mean time the sheep in wolf's clothing are still preying on the homeowners. So many will continue to loose their homes. But Hey! This is America land of the what?
Greedy, shameless, and just don't give a damn any more.
All of this just proves one thing, we are animals on there top of a food chain of no hope.
You are right Moe, we need to do something now.
ALL OF US!!!!

Listen to my words;
If you want a future for your children
If you want your dreams to come true
If you want to work and not see it disappear
If you are tired of the games that the government is playing
If you are tired of lenders playing games and saying; Duh! I did not do anything wrong.
If you are tired of seeing one company after the other bailing each other out and not the homeowner
Then stand up and lets make a bill and take it to Washington.

I have an Idea. But who will stand up with me and begin this fight because if we do not they are only going to make it worse. This needs to stop here and now.

Farawayangel

[farawayangel]

The bill would be called the "FHA Bill"
Fighting Homeowners of America Bill

Farawayangel

[sparky]

Moe....
Don't know where to post this. AS I was on yahoo, but changed page too soon, it said something about law passed by congress, legislature or someone regarding foreclosures. I have tried to find it, but can't seem to pull it up. Do you know anything about this? Thanks.

[John Camacho]

Good evening all,

Great to see that everyone is still here helping each other with every post. "Admirable" does not begin to define it; it transcends that. We have found a forum in which to voice our discontent, and find solidarity in that voice. I have to say that while that "Great American Swindle" seems to permeate almost every aspect of our once trusted mortgage lending industry, we are still able to stand united as homeowners and industry professionals, to beat back the elitist attitudes displayed by the opulent "Mozillos" and their cronies. Bear in mind that not every Loan Officer, Broker, Consultant, Agent and Advisor is out to get you. There are many of us/them who have never done anything other than to assist prospective and existing homeowners in achieving their "American Dream". Let us not become jaded by the myriad charlatans who claim to know all, while lining their pockets with money provided by those who want nothing more than their piece of the pie. Instead let us rally around one another in our common struggle against those who would otherwise capitalize on our misfortune.

The "American Dream" is not dead...it is merely being taken back. Taken back by the very people who once placed their faith in those who sold them "snake oil". The "Swindle" is quickly being exposed. Beware the inclination towards bitterness, and embrace what you have found here. Herein lies a wealth of support and knowledge from which we can all benefit. Please do your best to disabuse yourselves of the searing anger that might otherwise cloud your vision, lest you be guided down an equally dismal path.

Trust that you know what is right, and have the strength to follow through with it. Do not take the easy path of placing blame and pointing fingers. I ask you to choose a direction and follow through with conviction. Ultimately, you will get out of this debacle with your head held high and the pride of knowing that you did what was right. Do not succumb. You can prevail.

The fight may be difficult, but it is worth fighting.

John Camacho
Mortgage Advocate

[Steve Donlin]

Very well said John, glad to see you here.

Steve

Originally Posted by John Camacho

Good evening all,

Great to see that everyone is still here helping each other with every post. "Admirable" does not begin to define it; it transcends that. We have found a forum in which to voice our discontent, and find solidarity in that voice. I have to say that while that "Great American Swindle" seems to permeate almost every aspect of our once trusted mortgage lending industry, we are still able to stand united as homeowners and industry professionals, to beat back the elitist attitudes displayed by the opulent "Mozillos" and their cronies. Bear in mind that not every Loan Officer, Broker, Consultant, Agent and Advisor is out to get you. There are many of us/them who have never done anything other than to assist prospective and existing homeowners in achieving their "American Dream". Let us not become jaded by the myriad charlatans who claim to know all, while lining their pockets with money provided by those who want nothing more than their piece of the pie. Instead let us rally around one another in our common struggle against those who would otherwise capitalize on our misfortune.

The "American Dream" is not dead...it is merely being taken back. Taken back by the very people who once placed their faith in those who sold them "snake oil". The "Swindle" is quickly being exposed. Beware the inclination towards bitterness, and embrace what you have found here. Herein lies a wealth of support and knowledge from which we can all benefit. Please do your best to disabuse yourselves of the searing anger that might otherwise cloud your vision, lest you be guided down an equally dismal path.

Trust that you know what is right, and have the strength to follow through with it. Do not take the easy path of placing blame and pointing fingers. I ask you to choose a direction and follow through with conviction. Ultimately, you will get out of this debacle with your head held high and the pride of knowing that you did what was right. Do not succumb. You can prevail.

The fight may be difficult, but it is worth fighting.

John Camacho
Mortgage Advocate