Tuesday, November 20, 2012

Monitor of mortgage settlement shows banks still winning

Short Sale is option of choice for too big to fail banks and NAR. 

Monitoring of the mortgage settlement with the too big to fail banks may be showing the true fraud and scam of this agreement for the people.  It is full of loopholes and bank favored clauses that allow them to get away with doing virtually nothing to help homeowners stay in their homes.

The short sale has become the method of choice for the banks and for realtors across the country.  It is basically giving the banks a way to clear out home owners under the veil of help.  The reality is that this is a forced sale for people who would much rather have stayed in their home.  The options for people forced from their home due to a short sale are very limited due the credit issues that are a result of the sale.

The NAR (National Association or Realtors) has bought heavily into the short sale option because it keeps Realtors in business and it keeps the dues coming in to pay for the ridiculous amount of lobbying that goes toward promoting the NAR agenda.  It is little know that the NAR is a well oiled political machine that spends millions of dollars on lobbying each year.  It is no secret that NAR is pushing some type of agenda at all times.  Right now they are pushing to help the banks because they are the ones in control of the real estate.  If they banks do not continue to do short sales hundreds of Realtors will be out of business and therefore will not being paying the outrageous dues each year.

Read more of the story at Naked Capitalism by following the link below: 

Mortgage Settlement Monitor “Progress” Report Gooses Numbers to Hide Lack of Real Relief to Homeowners « naked capitalism


  1. A loan modification program helps people who are having some troubles paying for their mortgage - these programs assist individuals to retain and keep their house or property against foreclosure.

    loan modification program california

  2. I looked at this site and it seems like it may not be legit. There were several spelling errors in the first page of the site and it says they charge no upfront fees but it is clear they are in business to make money and they can't make it on a modification so they must charge at some point. It is a 3rd party that may not be necessary. If you need a third party go to a lawyer or real estate agent for proper help.

    I would be very cautious if you even consider this company!!!


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