NO MORE Mortgage Blog » Real Estate http://www.blog.nomoremortgage.com NO MORE Mortgage is a Unique Debt Elimination Company Mon, 11 Jul 2011 22:27:34 +0000 en hourly 1 How Banks and the Government are Conspiring Against You http://www.blog.nomoremortgage.com/how-banks-and-the-government-are-conspiring-against-you.html http://www.blog.nomoremortgage.com/how-banks-and-the-government-are-conspiring-against-you.html#comments Mon, 09 Aug 2010 15:37:59 +0000 No More Mortgage http://www.blog.nomoremortgage.com/?p=1081
  • Banks in distress highest in 15 years
  • NO MORE Mortgage and the Federal Government
  • NO MORE Mortgage and the Federal Government
    • ]]>     NO MORE Mortgage will tell you what they don’t want you to know–the truth

    The title may seem a bit crazy, but the crazy thing is it’s actually true.  This Youtube video does a great job of outlining the key points, Indymac Boys Get Sweetheart Deal , which are:

    • Indymac Bank failed
    • No one wanted to buy the mortgages held by the bank
    • The government (FDIC) stepped in and sold them to OneWest Bank at a 30% discount
    • The FDIC promised to cover 80% of the losses if any of the mortgages foreclosed
    • The 80% is calculated based on the full face value, not the discounted price they were bought for
    • You do the math–OneWest was then able to sell the entire portfolio for pennies, it didn’t matter!  They were guaranteed to make a profit no matter what!

    NO MORE Mortgage brings home the rest of the storyNO MORE Mortgage bank meeting

    Not a bad deal right?  It’s sort of like having the government stepping in and telling you to buy stock in Ford Motor Company at $100 per share, and telling you that they would guarantee you could sell the stock at any time for at least $110 per share.

    So who’s going to pay the difference?  All of us taxpayers!  And the bank executives getting rich off the deal?  A bunch of guys linked to Goldman Sachs and Treasury Secretary Henry Paulson.  And if that’s not enough to get you upset, not only does OneWest get the free profit from the government, but if the home goes through a short sale, in most cases, they will force the homeowner to sign a promissory note to cover some of the artificial loss.  So the bank first dips in the government pockets, then they still hold the homeowners feet to the fire for more money!

    If you haven’t seen the video yet, it’s worth watching, check it out here.  Indymac Boys Get Sweetheart Deal

    NO MORE Mortgage isn’t interested in sweetheart deals for the rich, our goal is to help everyday Americans to achieve their dreams of debt freedom, financial peace of mind, and retirement.

    Since 1996 NO MORE Mortgage has been helping thousands of Americans reach their financial dreams.  Find out how NO MORE Mortgage can help you reach a path to financial security by ordering your your Free CD today.

    You can also contact a NO MORE Mortgage representative at 800-201-8911 to request a complimentary Financial Analysis.

    Remember, there is no time like the present and with NO MORE Mortgage a brighter tomorrow can be yours today!

    Related posts:

    1. Banks in distress highest in 15 years
    2. NO MORE Mortgage and the Federal Government
    3. NO MORE Mortgage and the Federal Government

    ]]>     http://www.blog.nomoremortgage.com/how-banks-and-the-government-are-conspiring-against-you.html/feed/ 0     Bank: Half of U.S. Mortgages Underwater by 2011 http://www.blog.nomoremortgage.com/bank-half-of-u-s-mortgages-underwater-by-2011.html http://www.blog.nomoremortgage.com/bank-half-of-u-s-mortgages-underwater-by-2011.html#comments Thu, 13 Aug 2009 14:46:27 +0000 No More Mortgage http://blog.nomoremortgage.com/?p=101
  • First housing gain in 34 months
    • ]]>     NO MORE Mortgage has found a very interesting article about today’s housing market. The last line is very telling.

    If the main prediction comes true (see paragraph 3) then there can be no economic recovery until this issue is fixed, and/or the bubble completely bursts.

    Right now the markets believe we have “dodged the bullet” but NO MORE Mortgage continues to believe that we have only papered over the problem, and it will come back with a vengeance.

    For the rest of the story visit www.yahoo.com

    NO MORE Mortgage

    Related posts:

    1. First housing gain in 34 months

    ]]>     http://www.blog.nomoremortgage.com/bank-half-of-u-s-mortgages-underwater-by-2011.html/feed/ 0     First housing gain in 34 months http://www.blog.nomoremortgage.com/first-housing-gain-in-34-months.html http://www.blog.nomoremortgage.com/first-housing-gain-in-34-months.html#comments Thu, 30 Jul 2009 14:26:32 +0000 No More Mortgage http://blog.nomoremortgage.com/?p=75 NO MORE Mortgage is happy to see the latest home price statistics, but we are cautious that a final bottom has been set. One month does not make a trend. We continue to believe that the current rally, both in home prices and in the stock market, will be tested this fall, and if the indexes are still showing signs of improvement by October, then we can take heart.

    We remind investors of the terrible reality of what a 50% loss can do to an asset, whether it’s a home or a 401(k) account.

    If someone holds an asset worth $100,000 that declines by 50%, it now has a value of $50,000. In order for this asset to get back to its original value of $100,000, it would have to come back by 100%. In other words, a 50% decline takes a 100% recovery to make up.

    For more information on this story visit MarketWatch.

    NO MORE Mortgage

    No related posts.

    ]]>     http://www.blog.nomoremortgage.com/first-housing-gain-in-34-months.html/feed/ 0