Are we missing the outrage for being sold down the river by a band of numbskulls in the mortgage crisis? Even our choice for presidential candidates show heavily embedded lobby and financial interests for a Marxist socialist solution or a watered down free market solution. Both are sleepwalking in lobby money and favoritism.
Selling an expensive assets such as a homes to those who are unprepared financially to deal with making mortgage payments, insurances and property taxes is foolish. But that is exactly what president Jimmy Carter did by passing legislation encouraging such loans. This started the disconnect between reason and reality and utter foolishness. Political meddling into economic issues and sound lending practices kills the golden goose every time.
With the Clintons in the White House, the problem skyrocketed. They passed legislation punishing the mortgage companies if they did not lend to poor credit risk borrowers. They put laws with teeth in them thus encouraging easy credit with eyes shut to risk. Sound lending practices were thrown out the window.
Fannie Mae and Freddy Mac bought these loans, repackaged these loans and sold them on the open market. They sent hundreds of millions of dollars by their lobbies to politicians that in order to continue this masquerade.
AIG and other insurance companies insured these loans. Their cardinal goal is to evaluate and insure against debt risk. Their leverage was set at 12 to 1 meaning that they had to have one dollar in assets to cover 12 dollars or risk. They threw millions of lobby money to leveraging its recirculation rate at a reserve rate of more than 30-1. With such a high-risk and profit expansion levels, any big bump in real estate valuation put those assets at risk.
Federal Reserve economists put their stamp of approval on this financial gimmickry and allowed this charade to continue. Acorn (Association of Community Organizations for Reform Now) and other similar socialist leaning organizations further aided in twisting banks to make even more fraudulent loans.
Banking Committee Chairman, The House Finance Chief, SEC Chairman and other top-ranking government officials allowed this cancer to perpetuate because of the lobby money they received. The greed for lobby money twisted sound reasoning and perpetuated complete nonsensical thinking. The only solution for not tempting elected officials to sway their votes from socially responsible to sociopathic dimensions is to banish those accepting lobby money from government service as well as requiring jail time.
When the hot air balloon runs out of fuel used to create the hot air, the balloon crashes. When the easy credit real estate market turned and foreclosures skyrocketed, the balloon was punctured and stopped climbing; it crashed. Humpty Dumpty and the 700 billion dollar bailout that was weighed down with pork project bought and paid for by additional lobby money show how corrupt these weasels are. Where is the ethical outrage?
Across the nation, real estate prices have fallen and municipal and state governments have raised their tax rates to compensate for the shortfall. If, when you get your real estate assessment value bill, you need to compare your home to the assessments of similar sold homes, you may find that you are overtaxed and could profit from a property tax appeal. It's worth a second glance. - 15431
Selling an expensive assets such as a homes to those who are unprepared financially to deal with making mortgage payments, insurances and property taxes is foolish. But that is exactly what president Jimmy Carter did by passing legislation encouraging such loans. This started the disconnect between reason and reality and utter foolishness. Political meddling into economic issues and sound lending practices kills the golden goose every time.
With the Clintons in the White House, the problem skyrocketed. They passed legislation punishing the mortgage companies if they did not lend to poor credit risk borrowers. They put laws with teeth in them thus encouraging easy credit with eyes shut to risk. Sound lending practices were thrown out the window.
Fannie Mae and Freddy Mac bought these loans, repackaged these loans and sold them on the open market. They sent hundreds of millions of dollars by their lobbies to politicians that in order to continue this masquerade.
AIG and other insurance companies insured these loans. Their cardinal goal is to evaluate and insure against debt risk. Their leverage was set at 12 to 1 meaning that they had to have one dollar in assets to cover 12 dollars or risk. They threw millions of lobby money to leveraging its recirculation rate at a reserve rate of more than 30-1. With such a high-risk and profit expansion levels, any big bump in real estate valuation put those assets at risk.
Federal Reserve economists put their stamp of approval on this financial gimmickry and allowed this charade to continue. Acorn (Association of Community Organizations for Reform Now) and other similar socialist leaning organizations further aided in twisting banks to make even more fraudulent loans.
Banking Committee Chairman, The House Finance Chief, SEC Chairman and other top-ranking government officials allowed this cancer to perpetuate because of the lobby money they received. The greed for lobby money twisted sound reasoning and perpetuated complete nonsensical thinking. The only solution for not tempting elected officials to sway their votes from socially responsible to sociopathic dimensions is to banish those accepting lobby money from government service as well as requiring jail time.
When the hot air balloon runs out of fuel used to create the hot air, the balloon crashes. When the easy credit real estate market turned and foreclosures skyrocketed, the balloon was punctured and stopped climbing; it crashed. Humpty Dumpty and the 700 billion dollar bailout that was weighed down with pork project bought and paid for by additional lobby money show how corrupt these weasels are. Where is the ethical outrage?
Across the nation, real estate prices have fallen and municipal and state governments have raised their tax rates to compensate for the shortfall. If, when you get your real estate assessment value bill, you need to compare your home to the assessments of similar sold homes, you may find that you are overtaxed and could profit from a property tax appeal. It's worth a second glance. - 15431
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What if when you received the property assessment notice you could be sure you could challenge it? You need to be sure before you petition your property assessments. Find out if you qualify to lower your property taxes
