TARP and HAMP failed to halt foreclosures! (Really, did anyone really expect a government program to come through)
In his latest quarterly report to Congress, special inspector general Neil Barofsky said that the Troubled Asset Relief Program, or TARP, has failed to boost bank lending as well as halt the spread of foreclosures -- two key aims of the sprawling program. "Whether these goals can effectively be met through existing TARP programs is very much an open question at this time," Barofsky said in the report. Since Congress enacted TARP, lending to both consumers and businesses has continued to decline. Earlier this month, the Treasury Department reported that the 22 banks that got the most aid from the government's various bailout programs have actually cut their small business loan balances by $12.5 billion since April. "For those of you new to reading between the lines, this is the money that would typically be given to private entrepreneurs and business to reinvest and employee people"
The Obama administration did propose a joint program between the Treasury Department and the Small Business Administration in October to make capital cheaper for community banks that commit to increasing their small business lending, but three months later the government is still drafting guidelines for that initiative. Barofsky, whose office has been closely tracking the evolution of TARP, also criticized the Obama administration's Home Affordable Modification Program. Even as Treasury allocated $35.5 billion towards that foreclosure-prevention program as of the end of last year, only 66,500 homeowners have received permanent modifications, with another 787,200 homeowners in trial modifications. There is no sign that the rate of foreclosures is slowing down anytime soon.
OK Kids lets do the math to make sure everyone understands the numbers:
$35.5 Billion (9zeros) / 853,700 modifications (ya we believe these numbers) = $40,998.00 per mod.
PLEASE NOTE LESS THAN 10% OF ALL INITIAL MODIFICATIONS MAKE IT TO PERMANENT DUE TO FAILURE TO MEET OBLIGATIONS. LOOK AT THE NUMBERS AND SEE THE TRUTH 787,200 IN TRIAL ONLY 66,500 MADE IT LAST YEAR INTO PERMANENT
SO WHERE DID ALL THE MONEY GO? CAN YOU SAY GOVERMENT, BANKS AND THE EMPLOYEES
Earlier this month, RealtyTrac, the online marketer of foreclosed homes, reported that foreclosure filings surged to a record 3 million in 2009, up 21% from 2008.
There was at least one bit of good news from Barofsky's latest report however. He acknowledged that while the ultimate cost will still be "substantial" for American taxpayers, it will be less than originally estimated. (HEE HEE HEE, IF HE CALLS THIS GOOD NEWS I WOULD HATE TO SEE WHAT IS BAD NEWS)
Showing posts with label save someones home. Show all posts
Showing posts with label save someones home. Show all posts
Monday, February 1, 2010
Thursday, December 31, 2009
60 Million Mortgages can qualify to be lowered and reset, Keeping these people in there home. I will pay you to help them!!
4% GET MORTGAGE HELP UNDER FEDERAL PLAN.. DON'T LET YOUR CLIENTS OR FRIENDS GET LEFT OUT IN THE COLD!!
Come on the president means well, but have you ever tried to get something through the system. Good luck!! Cut and dry I will pay you $300 per applicant we get accepted to get there mortgage reset. All done through Attorneys and completely in the homeowners control.This is not network marketing, this is a grass routes campaign to keep people in there homes, reset there mortgage and lower the overall principle on there loan.
What do I have to do ADAM?
Market you little heart out!!
"Any Judge will tell you that a man that represents himself in a legal proceeding is a foul..."
Well the government loan mod program expects people to do it themselves (fouls). No it is your job to find the people, spend fifteen minutes with them, give them the list of things needed, once they get this to you it is forwarded to the attorney and you are done. I will pay you $300 per applicant that qualifies!
How do I know if they Qualify?
Simple: If there mortgage was recorded and closed with the title company through (MERS)THEY QUALIFY!
How do they know if this was recorded through MERS?
Simply call the title company they closed with and ask, or gather the information required and send it to us and we will tell you!
So I have taken all the excuses away, have given the entire US a chance to change there future: Find me 16 people a month to save there homes and I will pay you $5000 Cash.
Treasury officials, in the first comprehensive tally of permanent modifications made, say that loan servicers have converted 31,382 people from trial adjustments to long-term assistance as of Nov. 30, but 30,650 people in trial modifications have been denied. That means that only about 4% of troubled borrowers have received long-term help under the Obama administration's foreclosure prevention program. A nearly equal number of trial modifications have been denied permanent assistance, the report showed. The reasons include not making monthly payments on time, not submitting all the necessary paperwork and not qualifying for reasons such as insufficient income.
Homeowners claim that banks keep losing paperwork, but banks claim they often don't get it in the first place. Around 375,000 people should be eligible to receive long-term relief by year's end, but only one-third of homeowners who have made at least three trial payments have submitted all the needed forms, Treasury officials say, and some 20% have not submitted any paperwork at all. Banks and government agencies have hired outside companies to knock on borrowers' doors to assist them with completing the paperwork. None of this addresses the real problems, of course: a lot of people are underwater and don't see the point of making payments, and quite a few know they won't qualify once their real income comes to light.
DO NOT ATTEMPT TO DO THIS ON YOUR OWN, LET OUR ATTORNEYS FIGHT FOR YOUR RIGHTS !!
OVER 60 MILLION MORTGAGES MIGHT QUALIFY! ARE YOU OR SOMEONE YOU KNOW ONE OF THEM?
STAY IN YOUR HOME AND CHANGE YOUR FUTURE FINANCIAL OUTLOOK
We are committed to helping you reduce your monthly mortgage payment, lower your interest rate and lower your principal balance by at LEAST 10%, GUARANTEED!! *Average is more towards 20-30%
We offer legal representation to help you stay in your home, rebuild your credit and consolidate your debt.
We help homeowners who:
Do not qualify for a refinance
Do not qualify for a loan modification
Owe more than the home is worth
Are behind in payments
Are in foreclosure
Want to lower their interest rate
Want to lower their principal balance
We provide the following programs as part of our service to you…
Home Retention
Financial Counseling
Debt Settlement
Credit Restoration
Career Optimization
Financial Coaching
Retirement Planning
So ask yourself, everyone is bitching about the economy so if the US needs a stimulus package lets do the math kid's:
60,000,000 (MERS Qualified Mortgages) x $300(paid to associate) = $18,000,000,000
SCREAM THAT ONE FOR THE CHEAP SEATS!
Not to mention helping this customer stay in there home. So save your house and get off your fat ass and help your neighbors while supplementing your income so you no longer have to worry about finances.
And who says I do not help people....
--
Sincerely,
Founder
mn.equityproject@gmail.com
http://adamaboroughs.blogspot.com
http://mortgage-portal.biz/_renovation/
" No one changes Anything, without risking Everything"
Angel Investors
Come on the president means well, but have you ever tried to get something through the system. Good luck!! Cut and dry I will pay you $300 per applicant we get accepted to get there mortgage reset. All done through Attorneys and completely in the homeowners control.This is not network marketing, this is a grass routes campaign to keep people in there homes, reset there mortgage and lower the overall principle on there loan.
What do I have to do ADAM?
Market you little heart out!!
"Any Judge will tell you that a man that represents himself in a legal proceeding is a foul..."
Well the government loan mod program expects people to do it themselves (fouls). No it is your job to find the people, spend fifteen minutes with them, give them the list of things needed, once they get this to you it is forwarded to the attorney and you are done. I will pay you $300 per applicant that qualifies!
How do I know if they Qualify?
Simple: If there mortgage was recorded and closed with the title company through (MERS)THEY QUALIFY!
How do they know if this was recorded through MERS?
Simply call the title company they closed with and ask, or gather the information required and send it to us and we will tell you!
So I have taken all the excuses away, have given the entire US a chance to change there future: Find me 16 people a month to save there homes and I will pay you $5000 Cash.
Treasury officials, in the first comprehensive tally of permanent modifications made, say that loan servicers have converted 31,382 people from trial adjustments to long-term assistance as of Nov. 30, but 30,650 people in trial modifications have been denied. That means that only about 4% of troubled borrowers have received long-term help under the Obama administration's foreclosure prevention program. A nearly equal number of trial modifications have been denied permanent assistance, the report showed. The reasons include not making monthly payments on time, not submitting all the necessary paperwork and not qualifying for reasons such as insufficient income.
Homeowners claim that banks keep losing paperwork, but banks claim they often don't get it in the first place. Around 375,000 people should be eligible to receive long-term relief by year's end, but only one-third of homeowners who have made at least three trial payments have submitted all the needed forms, Treasury officials say, and some 20% have not submitted any paperwork at all. Banks and government agencies have hired outside companies to knock on borrowers' doors to assist them with completing the paperwork. None of this addresses the real problems, of course: a lot of people are underwater and don't see the point of making payments, and quite a few know they won't qualify once their real income comes to light.
DO NOT ATTEMPT TO DO THIS ON YOUR OWN, LET OUR ATTORNEYS FIGHT FOR YOUR RIGHTS !!
OVER 60 MILLION MORTGAGES MIGHT QUALIFY! ARE YOU OR SOMEONE YOU KNOW ONE OF THEM?
STAY IN YOUR HOME AND CHANGE YOUR FUTURE FINANCIAL OUTLOOK
We are committed to helping you reduce your monthly mortgage payment, lower your interest rate and lower your principal balance by at LEAST 10%, GUARANTEED!! *Average is more towards 20-30%
We offer legal representation to help you stay in your home, rebuild your credit and consolidate your debt.
We help homeowners who:
Do not qualify for a refinance
Do not qualify for a loan modification
Owe more than the home is worth
Are behind in payments
Are in foreclosure
Want to lower their interest rate
Want to lower their principal balance
We provide the following programs as part of our service to you…
Home Retention
Financial Counseling
Debt Settlement
Credit Restoration
Career Optimization
Financial Coaching
Retirement Planning
So ask yourself, everyone is bitching about the economy so if the US needs a stimulus package lets do the math kid's:
60,000,000 (MERS Qualified Mortgages) x $300(paid to associate) = $18,000,000,000
SCREAM THAT ONE FOR THE CHEAP SEATS!
Not to mention helping this customer stay in there home. So save your house and get off your fat ass and help your neighbors while supplementing your income so you no longer have to worry about finances.
And who says I do not help people....
--
Sincerely,
Founder
mn.equityproject@gmail.com
http://adamaboroughs.blogspot.com
http://mortgage-portal.biz/_renovation/
" No one changes Anything, without risking Everything"
Angel Investors
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