Obama – The Foreclosure Presidency — 11 MILLION MORE FORECLOSURES

From capecodtoday.com

Obama – The Foreclosure Presidency

11/10/10 · 12:14 pm :: posted by trb ShareThis

Eleven million homes will be foreclosed between today and 2015. Forty-four million men woman and children, more people than reside in most states will lose their homes. Obama has Sided with the Banks and the Republicans on this Issue. In Other Words, the Problem Worsens

By TRB

Barack Obama, despite what he represented to some well-intentioned people back in 2008, has become the king of home foreclosures, the Herbert Hoover of the practice.  He has failed miserably in easing the unemployment problem, mostly because he spent so much of his first two years passing and helping along a Republican health care plan designed by the man who might run against him in 2012, Mitt Romney.

He should have spent those first two years working on the unemployment problem, creating  jobs. He did eventually get around to creating some jobs, but we are stuck at almost 10 percent unemployment. And he has gone to India to find jobs for Americans. Does that mean he will go to China to find jobs for Americans? It’s like my neighbor said when I told him Obama was over in India finding jobs for Americans.

“How will we get there?”he asked.

At the present time,  nearly 10,000 people lose their homes every day, and Obama has done little to help them out. He instituted the Home Affordable Modification Program, otherwise known as HAMP, but it has been a dismal failure according to most participants, many who feel the banks were allowed to steal their homes right from under the government’s nose. Many attorneys general also believe the program isn’t working and at least one federal inspector general is investigating the way it is run.

HAMP was financed with $75 billion in tax payer money. It was supposed to allow homeowners to decrease their monthly mortgage payment to 31 percent of their income. All they had to do was meet certain financial requirements, wait a few months and they were assured of a HAMP mortgage

But a  big problem developed – a problem the president should have seen coming a mile away, especially since he created it. He put the banks completely in charge of  HAMP. Yes, Obama put the fox in the chicken coop.

At the present time the government claims  500,000 people are taking advantage of HAMP. But that is less than 20 percent of the families who were expected to take advantage of it.

Many families have complained to attorneys general across the nation that HAMP is just a way for the banks to “string  them along”  for months, getting every last dollar out of them, before denying their participation. Sometimes they are told of their “pre-approval” for the program, whose ultimate aim is to modify the conditions of their mortgage so they can stay in their homes.

So they continue making monthly payments, but at the pre-approved lower rate. This can be strung out for four or five months, Many have reported receiving foreclosure notification during this period, But, they say, when they have called HAMP officials they’ve been told to ignore the notices. Soon they will be allowed into the HAMP program.

But, more often than not, the exact opposite occurs. After four or five months of waiting and being told they are pre-approved, HAMP officals reject them, telling them they don’t meet income requirements – often when they clearly do.

One family was strung along for nearly 13 months before HAMP sent its letter of denial. Now they don’t qualify for any loan modification program government or private. They will lose their house.

The other day a news person on television said it almost looks like the government is working for the banks to strip the property rights of the people. It does begin to look like that when the government hands large private banks billions in taxpayer money, putting them in charge of a program to ease the numbers of foreclosures. But that number only continues to rise and the banks are doing an awful job of running the HAMP program. How much of that $75 billion is left, for example. And where has it gone? Has HAMP been audited? Further, HAMP should be run by the government and not by the banks who stand to gain if the owner’s home is foreclosed. Shouldn’t that be obvious to the president?

Foreclosures rose 45 percent under Bush’s presidency, and during his eight-year term nearly 2.5 million were foreclosed. Under Obama’s presidency, foreclosures have risen 81 percent. There were three million foreclosures in 2009 and things have just spiked from there. The below-prime people have already lost their homes. These new forclosures are mostly due to unemployment.

Twenty-three states have stopped foreclosures all together because the banks were found to be falsifying the paperwork, not in possesion of the true mortgage, and other discrepancies. Now all 50 state’s attorney’s general are investigating and are getting set to issue large fines against the banking industry and to make changes in the manner in which homes can be foreclosed.

Barack Obama, former community organizer, could also do his part beyond the controversial HAMP program. He could, for example call a moratorium on all home foreclosures, while some of these mortgages are studied for illegalities. But in these matters Obama might as well be one of the banks that issued the mortgages.

Obama believes that a moratorium on foreclosures would reduce the supply of home loans and increase the costs to future borrowers. These are almost the exact words used by editors of the St. Louis Federal Reserve Review – in other words, the banking industry.

Unemployment and foreclosures should have been the first problems on Obama’s plate when he gained the presidency. Instead he spent all of that time working on a health care bill that could have waited. And Bush and he threw all that money at the failing banks and investment houses, when it could have gone into repairing the nation’s infastructure and putting people back to work.

Instead Obama will go down in history as the president who put the most families out of  their jobs and out of their homes. Americans will have the decision on whether to foreclose on the family in the White House in two more years.

28 Responses

  1. That will be another 11 Million Fraudclosure Refugees forced to fight for their rights to survival in this lawless land.

  2. Obama the Foreclosure Presidency; preceded by the Illegal Wiretap Torture Presidency; preceded by the Export American Jobs Presidency; preceded by the Lying Lips Presidency; preceded by the Corporatist & Prison Presidency; Preceded by the New World Order Malaise Presidency; Preceded by Cover-up Kennedy’s assassination again Presidency, Preceded by the Inflationary Gold-less-Money War Presidency, Preceded by the Buffoon War Presidency….

    These Modern Presidents (and Congress) are all liars, and are not real Americans.

    Santa Claus is Real, so is the Easter Bunny, and so is the Modern Corporate Banking State, if you close your eyes believe hard enough. 🙂

  3. Neil your website is such a blessing for America at this time.

  4. I wrote the Treasury Dept. and called and told them they should be investigating the HAMP program. I told them BOA has reported me in the HAMP program which I saw on my loan history and I am not in the HAMP program. The Treasury Dept. of course would not write me or speak to me about it. They said Fannie Mae was in charge of the HAMP program. II wonder how many of the supposedly 500,000 people reported are actually in the HAMP program. BOA is making money off this program. It makes me sick there is no enforced regulation in the US with Banks. BOA does not have to account to anyone about anything. They run the United States.

  5. Furthermore we should all give our opinion on the subject of petitions, devise a basic plan of strategy with a simple but effective overall goal and we must work together as a team. None of that lone ranger crap, T.E.A.M. Together Everyone Achieves More. It would be GREAT if Neil would maybe contribute some of his ALL MIGHTY WISDOM to a stable plan to save our nation and perhaps designated a post area deticated for all LL readers who want to contribute to the PLAN TO FORECLOSE ON CONGRESS with signing petitions, spreading the word etc… so our posts and comments wouldn’t be lost forever (really just scattered) in the constant updates of the Never Never Land Market of Fraud and the criminal coverup by the pillars of injustice that is our Frauderal Government, L.P. of the Horrors comitted by the Nightmare on Wall Street.

  6. TexasAngel,
    Uh, if that was directed at me I would just like to say that’s a great idea, glad I thought of it > http://livinglies.wordpress.com/2010/11/04/rather-than-investigating-foreclosure-fraud-house-republicans-vow-to-investigate-loans-to-poor-people/ November 5, 2010. But if it wasn’t I’d just like to say I’m glad someone else is up to speed, and would also like to add the level of prevention that is the desired effect requires a more immediate solid impact given the amount of time it would take to gather anywhere near a substantially adequate amount of signatures to make Congress think twice considering they don’t even do it once.

  7. At least he pocket vetoed the notary bill our bought off legislature presented. That gives me hope.

  8. Insead of bitching about it, do something about it such as circulating a petition. That usually get’s people’s attention.

    You talk alot, but do nothing. Perhaps you should start doing something. Enough people visit your website.

    START A PETITION.

  9. Hillary Cinton’s out of the country for a while Obama’s in India for a while, this is kind of like RIGHT after Obama took office when they had that secret meeting and all the reporters got on that plane with Gibbs because they thought Obama was on it (but he wasn’t). Bottom line is no good can come from this judging from Obama’s unreasonable stance on Fraudclosures, Clinton’s REAL close relationship with China and both of their acting in collusion with israel (illegitimate state and unconstitutional under Article IV of OUR Constitution) to set up Iran by means of another false flag attack just like 9/11 (USS Liberty, Lavon Affair etc..).

    Why do you people refuse to recognize the obvious? israel, AIPAC, Zionist (israel-firsters) members of Congress and the Administration, multiple jewish organizations and their media monopoly OWN both major political parties, the progressive party, the communist party etc… they even recently BOUGHT the TEA PARTY (just like they did obama, they buy anything with popular support to eliminate opposition). We obviously can’t trust anyone who is affiliated to any party, do you know why??? Because they’ll put their party’s well being before the American People’s, Hasn’t that ever occurred to anyone? They don’t represent us the American People, they represent their corporate affiliated parties BOTTOM LINE! SO STOP THE BACK AND FORTH BLAMING “it was the republicans” “no it was the democrats” and the “well they did this” and “well they did that”. It looks really stupid when you find out who they ALL did it for, and why (israel, because israel told them to). So please people come to your senses and realize “GOVERNMENT IS NOT THE SOLUTION TO OUR PROBLEM, GOVERNMENT IS THE PROBLEM” and as long as ANY of those scumbag israel-firsters or their nit-witted followers occupy OUR Government, their gonna do damage. All that stuff they throw out in the media about standing up for illegal immigrants, gay rights and wrongfully bashing muslims is for the most part to cause internal conflict amoungst the populace, put blame where it doesn’t belong and cause mass distractions by taking the subject interests that are important but not dire to only certain large portions of society and making them the MAIN TOPIC OF DISCUSSION AND DEBATE, but never getting anything accomplished as a result and instead quietly make precise decisions that in one way or another effect ALL OF US AS A WHOLE AND AS INDIVIDUALS.

  10. Absolutely nothing the government has done and spent billions of dollars on has helped any of the people who are losing their homes. What happened to t he Government for The People, it is now the Government for the Bank and Lending Institutions. I am a realtor and deal with this mess in the trenches everyday and my heart goes out to all who are losing their homes in the travesty.

  11. I am quite tired of what I will politely refer to as “misinformed” people like the poster here. What most people, including the poster, don’t seem to understand because most Americans are ignorant of economics and the world economy today, you can’t expect Obama and his administration to clean up 30 plus years of republican hold on the world economy and Wall Street in two years or less. Our woes started with Reagan and the deficits he created. We seem to forget we had 18 percent mortgages back then and huge deficites which Bush 1 was unable to correct leading to Clinton coming into office. It took Clinton 8 years but he managed to get us rolling again with 20m jobs and a rolling economy and a surplus. His biggest mistake was the 1999 act abolishing Glass-Segal (sic). You do understand Glass segal Mr. Poster–that was the act put in place by FDR which put a hold on the banks from merging with companies like Goldman Sachs. Bush 2 took the surplus and made it into a deficit and we starting loosing jobs for 8 staight years! The popping of Glass Segal contributed significantly to a huge deficit which was ballooned by Bush 2 going into two wars which were never funded by Congress–he did that with “emergency” or discretionary funding. Couple that with the loss of jobs and the housing bubble created by the Republican congress under Clinton who passed Glass Segal and VIOLA! We have the problem we currently have. Then we have Obama. He inherits the30 years of republican “gimme” culture which made Americans believe they coul have a new and bigger house every five years, that they could havea new and bigger SUV every 3 years, and who thought it was just dandy to have more credit card debt and by the way impose our lifestyle on the Middle East because of course “might makes right”. In two years Obama who inherited this bubble bursting mess was supposed to clean up the mess, create all the jobvs that Bush 2 loss in 8 years, and somehow fix the deficit that Bush 2 created by his two wars. Add to that the greedy american found out he could no longer afford his bigger house with granite counter tops, or his new and bigger suv. So the entire bubble burst. But like most americans the poster wants instant gratification and blames the person who was handed this mess. And like most americans the poster does not understand that our economy is intertwined with China, the EU and the world economy because god knows we want more of those cheap China goods to fill our already overflowing homes with more s__t! Grow up. Sooner or later you have to pay the piper. Also, you can’t expect miracles. Obama did what the brightest minds in economics thouht was needed. Despite what you think Mr. poster it could have been a lot worse–a lot lot worse. My brother in law and cousin are both huge demmocrats and contribute significantly and work on Wall street–they continu to tell me and anyone who will listen that OBAMA saveed us from falling off a cliff. Unfortunately it isn’t enough for the average american who is upset he lost his house and his job because he over reached. Yes we have a long way to go but less taxes is not the anwer. Those republicans and tea partiers you just voted for want to already cozy up to wall street. The first meeting the republican leadership had after the election was with Goldman Sachs! While you want less government you still are asking the government to get you a new job and make sure along the way that you can have your new SUV and your McMansion back. You are outraged about the Obama’s committee who weighed in this week after the election and which was composed of REPUBLICANS AND DEMOCRATS and who told you your social security needs to be reduced, You know you can’t have it all.

  12. It’s not just what Obama did it was Clinton and bush too there are simply not enough good men that truely want to make their lifes work about truth justice and what us right the greed of man when looking a those Goldman guys who talk about their” pure intellectual masterbation “well guess what they are addicted to it not that it’s an excuse but on their minds there’s only one way and it’s ” get the money” any which way how sad when that’s what you make your lifes work equate to how much money you made or rather stole where’s the joy in that I wish they would wake up one day and look closely in the mirror and see what they have done to themselves

  13. The A man,
    You are correct !!! Congress are banker’s bitchez !!! Now we have majority (R) congress, and already bank lobbyist are hard at work busy courting them.

  14. Here’s something you all might like:

    http://www.zerohedge.com/article/subprime-wisdom-bud-abbot-and-lou-costello

  15. The only way to make this imbecile of a president wake up is to make him feel like the scumbag that he is. But, the f****** state media would not report his stupidities..

  16. Jay you are right on. This is NOT about one party being pro citizen over the other. Both sides are dirty and ignoring the people. If Obama was truly smart, instead of spending billions with these low life thieves, he would give each American ONE MILLION DOLLARS and it would go further in fueling the revivial of our economy than any one dollar he gives to the banks. 300m vs. trillions….how stupid can congress be?

  17. It seems to me that some of Mr. Obama’s advisors are also to blame here. Either Mr. Obama is up to no good, or he just does not get it. Get rid of the foreclosure mess, and the economy returns. When I say “get rid of” I mean a complete moratorium on foreclosures and return of the ownership to the person holding the title to the house or land. http://www.challengingforeclosure.com Sirak@challengingforeclosure.com

  18. Jay, if you haven’t realized it yet, there is no single political party, the republicrat or democan are the norm.
    Both have been purchased outright by the banks.

    If you won’t understand this, perhaps study up and get in to the actual message. You see, everyone is welcome, and this is an issue that has proven our nation’s leaders are officially “corrupt”.

    This is about us, not them.

  19. Bart,

    Some of the documents that are bogus would be obvious. ANY document that is in the possession of one of these ‘mills’ should be PRESUMED to be fraudulent in some way until it is examined and determined to be a document that originated elsewhere.

    I would suggest that ALL documents present in such a facility be stamped very clearly to show it was in the possession of the particular ‘mill’ at one time. Those that are complete fiction should be shredded only once law enforcement okays it. This would include the assignment documents and any attestation documents prepared for the courts.

    Do we know that they did not receive any originals of any of the notes and then start adding bogus endorsements? I know it is a long shot, but that needs to be verified before a document is shredded. If any original note is found that is doctored, the borrower AND law enforcement should be alerted. The document should be stored under the auspices of the courts.

  20. It is congress not Obama. Like somebody said. When he goes down the stairs they throw marbles at his feet so he trips.

    Congress passes the laws. He pocket vetoed the notary law that was passed by Congress.

  21. As they close the doors of these mills across the country we should insist that all the bogus files be shredded and we are to never hear from anyone in claim ever again. We need to get petitions out there for each one and then send to our A.G.’s And the crooks should be disbarred.

  22. First Fannie Mae, Freedie Mac, now Wells Fargo- quitting the foreclosure mill of David J. Stern.

    Posted:

    http://blogs.palmbeachpost.com/realtime/2010/11/10/wells-fargo-quits-the-law-offices-of-david-j-stern/

    Wells Fargo quits the Law Offices of David J. Stern
    by Kim Miller Wells Fargo confirmed today that it is transferring its Florida foreclosure files from David J. Stern’s Plantation-based law firm to other attorneys in the state.

    Vickee J. Adams, vice president for Wells Fargo communications, gave no reason for the transfers, but they come one week after Fannie Mae and Freddie Mac took its cases from Stern.

    Stern’s firm is one of four so-called “foreclosure mills” under investigation by the Florida attorney general’s office, but sworn statments from former Stern employees have done more damage to the company’s reputation than what has so far been suffered by the other firms.

    DJSP Enterprises, which handles Stern’s non legal side of foreclosures, and the firm itself, have had to layoff hundreds of employees since banks began investigating problems with their foreclosure documents.

    It’s unknown if more layoffs are to come following Wells Fargo’s departure

  23. […] This post was mentioned on Twitter by Catherine and Brett Robbins , Heath Gideon. Heath Gideon said: Obama – The Foreclosure Presidency — 11 MILLION MORE FORECLOSURES …: Barack Obama, despite what he represented… http://bit.ly/9lJ4UO […]

  24. What is the deal with all the partisan quips making it into the articles on this site as of late? Obama sides with repiblicans? What evidence has been provided that illustrates the republicans share any of obamas sentiments? The obama administration has bedded more big businesses and banks than the previous administration did, yet you insist on calling the previous admin a whore while heralding this inept current regime as the saving grace of contemporary america?

    I think you’ve lost your mind.

    The government is not your friend, not the liberals or the repiblicans. The longer that you perpetuate the idea that one side is pro citizen and the other not, the longer it will take to acheive.

    For the love of god please keep your personal politics out of this movement, else risk alienating a lot of your current supporters and incorrectly clouding this issue as a partisan one that divides the argument by politics. Using politics as a crux of an argument is rarely successful and never prudent.

  25. Neil hits the nail right on the head with what is going on. however the 10 percent rate of unemployment is bunk. The real number is closer to 20%.
    The government is talking about the number of people who are collecting unemployment, not the number of people whom are unemployed and out of job.that are unable to collect unemployment.

  26. Here is the story ,who belongs to the Video about
    the Florida ROBOS:

    http://www.tampabay.com/news/on-video-alleged-robo-signers-describe-assembly-line-work/1133687

  27. It’s too bad the idea of impeachment is something that a nation comes upon only through certain blatantly egregious or treasonous acts, rather than us just sitting down with the guy and saying, “Look Barack, America here, it’s obvious that it’s just not working. Maybe your hearts in the right place, but that’s not doing a damned thing to fix the myriad serious, even diabolical issues confronting us right now. We’re going to have to let you go.”

    And then he’s free to go to India looking for work. I’m sure there’s some communties over there that need a junior organizer. Go hone your skill in Guyana, or some third world nation and then come back and we’ll talk. We feel it’s better this way, rather than you turning America into a third world nation in your first few years of on the job training. We wish you all the best. Clear out your desk by noon. Best to the misses and the girls.

    And then we’d all be free to turn our attention to the truly important work ahead of us, like kicking Wall street’s ass to oblivion, and locking up a few thousand crooked judges.

  28. We already have, but I feel if we wait to remove him he will unsure we have no saving grace left.This is the saddest 4 years in American History. We need to get him removed from office before he ruins all of the communication with other counties. Other countries are looking out for thier people, China was quoted as saying they do not want unrest of their people when this President asked them to “artificaily” deflate there curency so that the dollar would be higher. Why would any country do this? He has distroyed any hopes of a future for our familes here.

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