Category Archives: reverse mortgage

Anyone want to talk about the mortgage crisis?

Posted on by
Reply

I want to open up some discussion here. You see, I have reason to believe that the current mortgage crisis was either intentionally planned or a colossal mistake the likes of the stock market crash. Allow me to elaborate:

Years back, a new and wonderful thing came about in the world of mortgages, the “refi”, which we have come to know as the refinance. For those of you out there familiar with this, people where allowed to refinance into adjustable rate mortgages and get cash out against equity. This program was signed off on by the powers that be that oversee the mortgage and banking industry, a key player is the Federal Reserve Board (to be referred to as FRB forward)
Knowing full well that the FRB was going to tinker with the rates down the road, they locked an unsuspecting public into mortgages that not only extended the amount of time they are paying for it, but ultimately added on thousands and thousands of additional interest, some of these folks have had adjusted interest to the point that they loose the house to foreclosure.

The increase in base gas prices has driven the cost of everything up, allowing less spend able income to through at interest.

The bottom line is who is this effecting? FAMILIES who are working themselves to the bone and loosing their homes, which is only going to mean more troubles later as they go into later life with no equity, forced to rely on a social security system that is far from adequate and less than appropriate.
What I am getting to, is these couple of points here and there the FRB threw at the public knowing darn good and well that the 5 year readjustment period for the refinancing mortgages coming up was, well, dare I say it would have taken forethought, and therefore malice against the poor, to intentionally put huge amounts of property back on the market for far less than inflated values, only to get them financed with some other person, just compounding the interest that is being made from the suffering of the hard working Americans.

THANKS CONGRESS FOR NOT CARING!!! Congress is so wrapped up in foreign affairs (which is the presidents job) that they are completely ignoring a domestic crisis. Too busy running for office I imagine…

Personally, I think interest should be made illegal, and that would be the end of it.

What do you think?

what are your thoughts and your knowledge regarding the “federal reserve”?

Posted on by
Reply

especially now regarding mr bernacke s statement regarding us heading toward a recession… hum… since when is the “federal reserve” so knowledgeable??? because they are the ones who determine that we go into recession depression etc… they have no constitutional authority to do their thing… they print money that has no backing by gold so it is counterfeit… oh please… they determine the interest rates and they are the ones who can call your mortgage in anytime… we had a high school at least, education but how much of it was the truth?????? congress is the only one who HAS the authority to coin money and they are not doing it … the federal government went bankrupt in 1933 and with the involvement of this so called “federal reserve” made up of crooks from England (this is one reason folks came to America) read the creature from jekyl island… anyway the bankrupt federal government agreed to pledge all American citizens to be responsible for the federal debt… interesting
yeah crooks from England… namely the rockafellers, morgans, rothschilds some other wealthy families … read the Creature from Jekyl Island… the good faith of the united ??? states government… i would not accept behavior from my children that some of our politicians display and they want to be in authority… give me a break…i wonder why some of our youth behave the way they do with some of these poor examples… God help us.