The efforts were never meant to succeed; it was just a fooley to make citizens think the government was doing something to help them. By now it is clear who they $erve.
"A $1 billion federal loan program designed to help 30,000 unemployed homeowners pay their mortgages will probably fall far short of its goal, adding to an expanding list of government antiforeclosure efforts that have failed to meet expectations....
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Related: Sunday Globe Special: Foreclosure F*** Over
Where did all that money go?
"Aug. data signal lenders stepping up foreclosure action" September 30, 2011|By Jenifer B. McKim, Globe Staff
Many major US lenders put the brakes on foreclosures last September after reports that some employees, now known as robosigners, were putting their names on thousands of legal documents a day without reviewing the paperwork.
That's as close as we get in the paper to the MASSIVE FORECLOSURE FRAUD and ILLEGAL SEIZURE of HOMES so banks could hold hard assets against the mortgage-backed securities fraud they perpetrated.
Soon after, lenders - including Bank of America Corp., the nation’s largest - said they had determined the foreclosures they carried out were legally sound, but that they planned to fine-tune procedures for seizing properties....
As foreclosures increase, a group of protestors plan to march to Bank of America’s downtown Boston headquarters today to urge it to help homeowners and their families stay put.
That's what all the fraudulent foreclosures were for?
Bank representatives said the effort is a misguided publicity stunt, and that it has been working hard to help struggling homeowners....
Really, you bank people are worse scum than the war liars and political pukes. There is no shame in you.
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And what's this? The Globe actually covered a protest against a bank?
"24 arrests at Bank of America protest; Demonstrators support those facing foreclosure" by Jenifer B. McKim Globe Staff / October 1, 2011
Twenty-four people were arrested yesterday during an antiforeclosure protest outside of Bank of America Corp.’s downtown Boston headquarters.
According to organizers, several thousand protesters gathered on Federal Street to show support of homeowners fighting foreclosure. Some staged a sit-in inside the bank’s lobby in an attempt to pressure the country’s largest bank to help struggling property owners save their homes. The arrests were made after some refused police orders to leave the building. Those arrested were charged with trespassing.
Boston police declined to estimate the size of the crowd. The protest was led by a coalition of activist groups called Right to the City Alliance, which wants Bank of America and other lenders to modify loans to more affordable payments by reducing the size of mortgage balances.
Organizers had said in advance that some protesters might seek to be arrested in a show of civil disobedience.
“The numbers that came out today were awe-inspiring,’’ said Jason Stephany, a spokesman for the activist group MassUniting. “It is a testament to the gravity of the situation. People are hurting. This is only the first step in a long journey.’’
Yeah, I saw the photo that came with the printed paper.
Bank of America spokesman T.J. Crawford said demonstrators unfairly targeted the lender, which he said has undertaken major efforts to help homeowners modify loans and stay in their homes.
“These individuals choose to ignore the facts and instead focus on aggressive PR stunts,’’ Crawford said.
In other words, they are acting like an AmeriKan media mouthpiece.
Now fork over that debit card fee.
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Here's the answer according to the Sunday Boston Globe:
"Real estate becoming a cash economy; Buyers cite low prices, tougher mortgage rules" by Jenifer B. McKim Globe Staff / October 2, 2011
More than a third of homes sold this year in Massachusetts, from gritty fixer-uppers to multimillion-dollar estates, have been paid for in cash as an increasing number of buyers decide to sidestep the traditional, and increasingly burdensome, mortgage process.
The only people I can think of that can do that are the wealthy elite and drug dealers.
Cash sales accounted for 34 percent of residential real estate transactions through August, compared with about 22 percent during the first three quarters of last year and 20 percent for the same period in 2009, according to data provided by the Warren Group, a Boston company that tracks local real estate.
“Clearly, there is more cash and more liquidity in the marketplace than we ever imagined,’’ said Kevin Ahearn, president of Otis & Ahearn Inc., a Boston real estate firm.
Real estate agents say cash buyers include baby boomers downsizing to Boston condominiums with profits from the sales of their suburban houses, well-off parents purchasing homes for college-age children, and investors seeking discounted properties they can rent or sell.
Profits from what sales in a down market?
The paragraph implies what I stated above, folks.
Can you buy your kid a house (if you have managed to keep yours), dear readers?
They are turning to cash for various reasons, including tighter lending guidelines that have made mortgages less attractive, dwindling bank financing for investment properties, and a volatile stock market that has sent people looking for other places to put their money....
I've got a few ideas for you.
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Related: Google $oak$ Up $ome $un
No, the place I was thinking doesn't get any sun.
