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ataloss
Joined: 27 Jun 2004
Posts: 5729
Location: Pine Stump Junction, MI 49868
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 Posted: Sun Feb 15, 2009 11:15 am Post subject: Marcy Kaptur's foreclosure advice |
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| Quote: | | She criticizes the bailout's failure to protect homeowners facing foreclosure. Her advice to "squat" cleverly exploits a legal technicality within the subprime-mortgage crisis. These mortgages were made, then bundled into securities and sold and resold repeatedly, by the very Wall Street banks that are now benefiting from TARP (the Troubled Asset Relief Program). The banks foreclosing on families very often can't locate the actual loan note that binds the homeowner to the bad loan. "Produce the note," Kaptur recommends those facing foreclosure demands of the banks. |
http://www.kaptur.house.gov/index.php?option=com_frontpage&Itemid=1
Link from Kathyet
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Ataloss
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kathyet
Joined: 24 Jun 2004
Posts: 1354
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| Posted: Sun Feb 15, 2009 12:12 pm Post subject: |
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We sure need more like her!!!!
Kathyet |
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kathyet
Joined: 24 Jun 2004
Posts: 1354
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| Posted: Mon Oct 12, 2009 11:55 am Post subject: |
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Interview from Bill Moyers with Mary Kaptur and Simon Johnson
http://www.pbs.org/moyers/journal/10092009/watch.html
Kathyet
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Limit all US politicians to two terms.
One in office
One in prison
Illinois already does this. |
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Mike
Joined: 23 Jun 2004
Posts: 3454
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| Posted: Mon Oct 12, 2009 1:54 pm Post subject: |
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There is an inconsistency in Marcy's thinking. People are having a hard time paying off their mortgages because they are too big. Yet Marcy wants home prices to go even higher, which would make it even harder for the next generation to pay off their mortgages.
Home prices have to be affordable for people to buy them. Home prices are still too high in many places. That's the primary problem, people paid too much for their homes. The prices got too high, so people couldn't afford to pay off the mortgages. This caused the credit crises, and the taxpayers were forced to bail banks out.
To solve the problem, let home builders build a lot of small homes that ordinary people can afford. Then they will be able to pay off the mortgage. No more taxpayer bailouts.
Above all, get rid of the central bank's ability to print. This robs consumers of purchasing power, encouraging them to go into too much debt. It also discourages saving, so many people don't have enough for their retirements.
With the printing press, banks take away consumer purchasing power, and lend it back to them. Consumers become the slaves of banks. |
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kathyet
Joined: 24 Jun 2004
Posts: 1354
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| Posted: Mon Oct 12, 2009 4:19 pm Post subject: |
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| Mike wrote: | There is an inconsistency in Marcy's thinking. People are having a hard time paying off their mortgages because they are too big. Yet Marcy wants home prices to go even higher, which would make it even harder for the next generation to pay off their mortgages.
Home prices have to be affordable for people to buy them. Home prices are still too high in many places. That's the primary problem, people paid too much for their homes. The prices got too high, so people couldn't afford to pay off the mortgages. This caused the credit crises, and the taxpayers were forced to bail banks out.
To solve the problem, let home builders build a lot of small homes that ordinary people can afford. Then they will be able to pay off the mortgage. No more taxpayer bailouts.
Above all, get rid of the central bank's ability to print. This robs consumers of purchasing power, encouraging them to go into too much debt. It also discourages saving, so many people don't have enough for their retirements.
With the printing press, banks take away consumer purchasing power, and lend it back to them. Consumers become the slaves of banks. |
Hey noval idea here but how about if people get loans they can actually afford and not creative ones that they were getting we wouldn't be in this mess in the first place..These bankers, finance companies and agents/brokers are criminal. It all comes down to greed. They also got all this bailout money what are they doing with it??? Feathering their own nests...
Kathyet
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Limit all US politicians to two terms.
One in office
One in prison
Illinois already does this. |
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Mike
Joined: 23 Jun 2004
Posts: 3454
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| Posted: Mon Oct 12, 2009 11:54 pm Post subject: |
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| Kathyet wrote: | | ...how about if people get loans they can actually afford and not creative ones... |
Yes, I agree. |
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kathyet
Joined: 24 Jun 2004
Posts: 1354
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| Posted: Tue Dec 29, 2009 9:35 am Post subject: |
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More from Mary Kaptur on the Banks.....
| Quote: | | Profits for us, losses for you |
http://www.brasschecktv.com/page/761.html
Kathyet
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Limit all US politicians to two terms.
One in office
One in prison
Illinois already does this. |
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Mike
Joined: 23 Jun 2004
Posts: 3454
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| Posted: Fri Jul 23, 2010 6:01 pm Post subject: |
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A bank auctioned off a worthless second mortgage to a couple. The bank that auctioned them the 2nd mortgage waited until the couple fixed up the home, then told the couple that they were going to auction off the home a second time to recoup the first mortgage.
Its getting zany out there. Be very careful if you decide to bid for a home at a foreclosure auction. |
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kathyet
Joined: 24 Jun 2004
Posts: 1354
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| Posted: Sat Jul 24, 2010 8:45 am Post subject: |
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| Quote: | | Auctioneer Liese Varenkamp, in written testimony, said she has conducted 500 foreclosure sales and never provided information about the priority of liens being sold. When she says the sale is "as is," that means the bidder must do his own investigation, she said. |
I thought a lien release was a common practice when purchasing a home???? It seems as though the crooks are running rampart....again
Thanks for the info....I am passing it along so people will become aware of this happening....this is a case of having a bank or Realtor walk you through these things....
Kathyet
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Limit all US politicians to two terms.
One in office
One in prison
Illinois already does this. |
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kathyet
Joined: 24 Jun 2004
Posts: 1354
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| Posted: Fri Jul 30, 2010 9:00 am Post subject: |
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OH NO SAY IT ISN"T SO!!!!!
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Porker of the Month is a dubious honor given to lawmakers, government officials, and political candidates who have shown a blatant disregard for the interests of taxpayers.
Rep. Marcy Kaptur (D-Ohio)
Washington Office:
Phone: 202-225-4146
Fax: 202-225-7711
CAGW Names Marcy Kaptur July Porker of the Month
(Washington, D.C.) - Citizens Against Government Waste (CAGW) today named Rep. Marcy Kaptur (D-Ohio), Porker of the Month for gaming the House Democrats’ prohibition on awarding earmarks to for-profit companies and wasting taxpayers’ money. On March 10, 2010, House Democrats declared they would not approve requests for earmarks that are directed to for-profit entities.
A New York Times article published on July 4, 2010 reported that Rep. Kaptur was attempting to skirt the House Democrats’ ban on for-profit earmarks by securing earmarks for a new nonprofit that was very closely related to a for-profit company. According to the article, Rep Kaptur requested $10.4 million in pork-barrel earmark funding for the Great Lakes Research Center, a nonprofit organization that specializes in the same kind of work, and operates out of the same location as a for-profit company, Imaging Systems Technology. Rep. Kaptur helped Imaging Systems Technology secure $8.4 million in pork-barrel earmark funding in the past. The Times article also reported that Rep. Kaptur received tens of thousands of dollars in campaign contributions from Imaging Systems Technology’s executives.
“Members of Congress should make rules that they intend to follow, instead of intentionally gaming the system they create,” said CAGW President Tom Schatz. “It appears that from day one, Rep. Kaptur intended to trample all over the new ban on for-profit earmarks. This is the essence of pay-to-play political patronage, but unfortunately, Rep. Kaptur is not the only member engaging in this type of objectionable behavior. Taxpayers expected reform and transparency, but they are getting subterfuge and obfuscation. These activities demonstrate that members of Congress are not serious about reform,” concluded Schatz.
CAGW’s Porker of the Month can also be viewed on video which is co-produced with reason.tv, the video website of Reason Magazine. CAGW’s Porker of the Month is available on both CAGW’s homepage and at reason.tv.
For eviscerating earmark reform and wasting taxpayers’ money, CAGW names Rep. Marcy Kaptur its July 2010 Porker of the Month.
Citizens Against Government Waste is a nonpartisan, nonprofit organization dedicated to eliminating waste, fraud, abuse, and mismanagement in government. Porker of the Month is a dubious honor given to lawmakers, government officials, and political candidates who have shown a blatant disregard for the interests of taxpayers.
###
For more information, contact: Leslie K. Paige
202-467-5334
media@cagw.org |
http://www.cagw.org/newsroom/porker-of-the-month/2010/
Here is the video
http://www.cagw.org/
KICKTHEMALLOUT!!!!
Kathyet
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Limit all US politicians to two terms.
One in office
One in prison
Illinois already does this. |
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