Drowning in Debt - Underwater Mortgages - Next Crisis

The next wave of foreclosures will be a TSUNAMI!

The defaults will come from 16 Million Americans paying on "underwater" home mortgages.
These mortgages represent about 1.2 TRILLION DOLLARS of negative home value.

No problems......No worries....no threat of Moral Hazard ("walk-away")

On average, U.S. homeowners owe $75,644 more than what their house is worth, or 44.5% more than current value. Almost 5% of U.S. homeowners, with a mortgage, owe more than twice what their house is worth (full report HERE)

According to a MSNBC report (Here) using data from Zillow:
Despite the temptation to just walk away and mail back the keys also know as "Jingle mail"
90% of the underwater borrowers are making their mortgage & home loan payments on time, and ONLY 10% are more than 90 days delinquent. Here ..look at the chart... see for yourself

"Negative equity will continue to weigh on the housing market, it also puts millions of owners at greater risk of losing their home if the economic recovery stalls,"
said Zillow chief economist - Stan Humphrie.

Hey Stan....what economic recovery are you referencing?

To prove he is the Master of the Obvious... Stan added this earth-shattering comment:
"If economic growth slows and unemployment rises, more homeowners will be unable to make timely mortgage payments, increasing delinquency rates and eventually foreclosures,"

Way to go Stan....thanks for that information. You say your an Economist...wow...that is way cool...you really have a handle on this underwater issue. Again no worries Stan, I see the chart and it assures us people will certainly keep paying on their underwater mortgage and obviously have no problem remaining a mortgage debt slave..... lets say....oh maybe.... for another 20 or 30 years. By the way - that chart comes with a Zillow Guarantee right? I mean we can rely on that data going forward ...right? How many years can we count on that chart Stan? Regardless, it must be 'good stuff' cause your an economist (expert?) and your kinda telling us - this is still good news. And Stan - Don't forget the tag lines
Mortgage rates are at an all time low!!! and now is a great time to buy!!! and lets see what else...what other bank/realtor speak can we tell the news readers at faux(Fox) and CNN.

OHIO FRAUDclosure asks......How much longer will American homeowners continue to pay on underwater mortgages that were based on falsely inflated (bogus appraisals) values? What useless bank loan mods or phony "life preserver" government programs will be offered? You know - the programs designed to trick and trap (Hamp, Hope, Harp etc.)
When will American Homeowners STRATEGICALLY DEFAULT?

Lets ask the Mortgage Bankers Association for an answer on this underwater crisis.
They saw this crisis coming 2 years ago and faced an underwater loan on their headquarters.
They have to know what is best -  go ahead - ask em:
What would the Mortgage Bankers Do?

The Daily Show with Jon Stewart
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The CEO of the Mortgage Bankers Association, John Courson said underwater borrowers should keep paying their mortgages and "should not walk away from lawful debts"
In an interview on this topic (in 2010!) Courson appeared genuinely concerned adding:
"What about the message they'll send to their family, their kids and their friends?"
Obviously, Mr. Courson was not just speaking as a defender of financial institutions. Clearly, he was showing how much he cares for people and their personal relationships.  He believes the children are our future.  He thinks we should teach them well and let them lead the way.  That we should show them all the beauty they posses inside.  Give them a sense of pride.  To make it easier, let the children’s laughter remind us how we used to be
Read Mandelman Matters: How to Strategic Default? Ask the MBA (HERE)

THEY ARE COMING !!! Are you next ???

THEY ARE COMING
What you are about to see ......REALLY HAPPENED
Listen, Witness and Experience....the inhumane side of EVICTION
Will they come again....for this family? Will they steal their home?
Will they come ….when no one is watching? Next time....will they come....for you?   


A land once filled with promises...Where the American Dream was a family’s home,
has now become the land of broken promises and shattered dreams.
Sounds of children crying ....haunt parents ....who find it hard to sleep...
Everyone......waiting.... for the next knock or pounding....on the front door. 
  
Communities are being destroyed, as families disappear into the night.
This will leave heavy scars on the very fabric of our nation.
These wounds are so deep…it will take a generation...or two....to heal. 
3,000 ....EVICTIONS.... EVERY SINGLE DAY of the YEAR.  
Maybe not today, or tomorrow, but ......THEY ARE COMING

They come......often with little or no warning.
Fannie and Freddie stopped foreclosing for the holidays, but only for a brief moment,
they did not stop....out of the goodness of their hearts.
They paused, so no one witnesses THE HORRORS OF THEIR ACTS AT CHRISTMAS.

 

January 3rd is coming and the daily mass evictions need to be ramped back up....again

THEY ARE COMING 
This family, like thousands before them, are re-living the nightmare,
The Pounding....The Police...The Noise ....it will not go away
Their Christmas Joy and Holiday fun are replaced by fear...as they hang on....each day 

THEY ARE COMING....again.....beginning JANUARY 3rd, 2012.
THEY ARE COMING....to your city....your state ....and
THEY ARE COMING..........FOR YOU

Please email, link, facebook or twitter this video  - share through any social media
We must......get the message out...and....
WE MUST STOP THIS INDIGNITY
WE MUST STOP THIS CRIME
WE MUST STOP THIS EVICTION and FRAUDCLOSURE AGAINST THIS FAMILY

National Blog recognizes OhioFRAUDclosure (Mandelman Matters - HERE)

If you would like to make a difference & help change.....these eviction nightmares
Please visit and follow-up at:
Ohio FRAUDclosure  and at Mandelman Matters
ohiofraudclosure@gmail.com and at  mandelman@mac.com

Other Websites: 4closureFraud.org and ForeclosureHamlet.org
Thank you Martin (at Mandelman Matters) for strength & guidance for this post

 Homeowners in Chicago and Cleveland STOPPED EVICTIONS...in the 1930s
Are we approaching a point in time - where homeowners "Rise Up" AGAIN??
RACHEL MADDOW SHOW......OCCUPY OUR HOMES........

A growing number of homeowners & supporters are standing up to the banks 

 I will:

Resist attempts by the FRAUDsters (banks & servicers) to "steal" our homes. 

Take necessary action(s) to Support American Homeowners.

If they attempt to foreclose, I will not go

If they attempt to evict, I will not go

If they attempt to Steal my neighbors home, I will stand in solidarity with them

I will:

- sign petitions

- make phone calls

- contact caring - local and national organizations

- join efforts of local and national organizations that help with foreclosure defense & to help stop evictions

- help spread the word

TAKE THE PLEDGE: IN DEFENSE of AMERICAN HOMEOWNERS: (CLICK HERE)

ENJOY THE HOLIDAYS ??

                      Enjoy the Holidays..........until.............??????

                          EVICTIONS RESUME JANUARY 3rd

National Blog recognizes: OhioFRAUDclosure (Mandelman Matters - HERE)

A MERSY CHRISTMAS

It will be right after Christmas, and they’ll still take your house
That Predator Drone - Lerner Sampson Rothfuss
Their documents were strung together without care,
Have a missing assignment? LPS will be there!

The attorneys said “We’ve put our problems to bed”
As fraudclosure whistleblowers were turning up dead.
There’s Biden in Delaware, and Martha in Mass.,
Who finally said, “Let’s kick bankster axx!”

There’s Miller in Iowa who’s leading the chatter,
“Millions of foreclosures? Hey, what’s the matter?”
Amnesty for the banks who started this crash,
For a slap on the wrist and a wee bit of cash.

And soon we will see it was all just a show,
They’ll be working on tans with friend Angelo.
“Trash Out” companies break into homes without fear,
It’s a civil matter and the cops won’t appear.

They’ll doctor the proof to steal your home free and clear,
With forged notes backdated five years!
A VP with a short name will do the trick,
Boy! That Linda Green can sure sign ’em quick!

More rapid than a machine she signed her name,
And under deposition the rest of them came.
Sign Linda! Sign Crystal! Christine and Bryan!
Sign Stephan, Sign Hoye, Thomas and Samons!

We’ll pay you more than you can make at the mall,
Now sign away, sign away, sign away all!
You can apply for a loan mod but it surely won’t fly,
You’ll be met with obstacles that reach to the sky!

So short sale your house, sign a deed in lieu,
Or we’ll do what is necessary to take it from you!
In rocket-docket court the homeowner bears the burden of proof,
Ninety seconds to save your home and then it’s gone – poof!

                                               the rest of the holiday poem  (HERE)

Original Poem (without two line edit & embedded links) Courtesy of our friends at 4closurefraud.org

HO, HO, HOmeless!

A SHOCKING "look-back" from  Mandelman Matters

.......A father of three stands in the shadows made by the tree in the front yard of his home of 14 years.  It’s 2:30 AM.  He’s wearing a tee shirt and boxer shorts. The wind is audible and cold.  His eyes fixate on the flower box he built his first year as a homeowner.  His stare moves to the driveway… his driveway… and remembers pitching underhand to his youngest son.  He had thought they would live in this house forever.  He absent-mindedly scratches his chest with the barrel of the .38 Smith & Wesson Super he’s holding in his hand.  He wonders if insurance policies pay off after suicide.

........A mother is on the phone first thing one morning.  She reads my column on-line.  She calls to tell me that her son, 41 years old, hung himself in the basement of his home last night.  She found him yesterday morning.  He had been laid off and out of work for nine months. He tried to convince his bank to modify his mortgage since then.  Went through his savings.  Started spending hers. Her voice shakes.  “Now,” she says, “the bank will finally get what they’ve wanted all along… his house.”

My personal HEROES in the FRAUDclosure Battle

My personal HEROES and the inspiration behind the start-up of OHIO FRAUDclosure Blog
Matt Weidner, Tom Ice, Lisa Epstein, and Martin Andelman

Today I'm humbled and honored ...to intersect ...with all my Heroes... in a podcast.
Link below to the 30 minute audio podcast.....
FRONT LINE NEWS, A Mandelman Matters Podcast – December 23, 2011

Listen-up folks....I was just another FRAUADclosed upon homeowner...... living in Ohio, when exactly 8 months ago (April 23, 2011) I tried to thank, in a post, some people that had inspired me. These individuals gave me the courage needed to stand-up and be heard (by blogging)  
I wrote back then:
..........I must give a "Shout-Out" and public "Thank You" to attorneys that have given me courage and inspiration to take this first step (Blog). A THANK YOU - to the individuals below - is simply not enough. They are the brave ones that accepted and took up the fight, long ago. They paved the way for those of us that followed. The below attorneys have been waging legal battles in FL. courtrooms, and uncovering crimes by revealing the massive FRAUD being perpetrated in foreclosures.They have been dealing with these issues much better and longer than we have (in OHIO). They continue to change law, awaken lawmakers, save homes and improve the lives of thousands of people. Floridians, these are your state's heroes!
Florida Attorneys That are Ground-Breaking Legal Representatives - For the People!
Matt Weidner (Weidner Law)
Tom Ice (Ice Legal)

In the meantime, I knew there was this AMAZING gal (Lisa Epstein) down in West Palm Beach with a cool website - Foreclosure Hamlet - that was loaded with foreclosure defense information. Lisa can only be described - as a person with unbelievable courage. She, like me, had been going through an awakening of the FRAUD in foreclosure. But instead of "hiding in the shadows" or being allowed to be labeled as a victim, Lisa took action. She wrote letters, went to the courts, uncovered fraud, challenged the system, notified the Florida State Attorney General's Office of the Fraud upon the courts. She went to her State Senators and Representatives.....and knocked on congressional doors and called attorneys....and fought on...and on...day and night. No matter what the odds....or size of the enemy....she refused to back down. In the same post (of April 23, 2011) I feebly tried to thank Lisa... and promising to post some of her inspirational work...I said:
...... And finally we will focus on Lisa Epstein, the Rosa Parks of Foreclosure. She refused to "give up her house," or be pushed aside or out of the courtroom. She is truly a hero and you will be inspired (as I was) by her story. I will dedicate a couple posts to her, as she has forever changed the landscape for those in Foreclosure
I've failed to feature my hero (Lisa) in a post....but she continues to inspire me.... daily .....
actually you can check out the whole April 23rd, 2011 post below:
 OHIO FRAUDclosure - A Thank You to FLORIDA Attorneys

Lastly, I had planned for some time to have a special blog post featuring my friend ....Martin. It is still a planned and upcoming post...but in the meantime.....rewind three years back. I'm in the midst of my own personal FRAUDclosure fight, when late one night I stumbled upon this amazing writer and blogger - Martin Andelman. Man could this guy write! He seemed to take all the complexities of the financial crisis and near wipe-out and meltdown (still in progress) of the US Housing market...and somehow.....make some sense out of it. I would read and re-read each of his posts. It was amazing how he could take a serious topic (Obama HAMP program) and make it......I have to admit.... really funny. First he would write about the serious side of the issue - then have you laughing out loud - then walk you to a point of being mad - to damn mad - to crazy mad .....and then to....well kinda back...full circle to the topic at hand. He left you wondering, thinking, and asking questions. He has this artistic writing style that seems to empower and give each of us the ability to NOT accept the government's sound bite answers(lies) being spewed 24-7 by the traditional media. One thing that came through...in each of his posts (Now numbering 520+) was the breadth of his knowledge to go along with his ability.... to simplify it all.....in a Mandelman Matters blog.

Today I'm humbled and honored ...to intersect ...with all my Heroes... in a podcast.
Link below to the 30 minute podcast. And please...start reading...Mandelman Matters

FRONT LINE NEWS, A Mandelman Matters Podcast – December 23, 2011

FIRST UP…

A favorable ruling from Florida’s Supreme Court in the Pino Case… what does it potentially mean to homeowners across the country and the foreclosure mill attorneys whored by the banks to pursue the many thousands of foreclosures that happen each day in this country. Florida foreclosure defense attorney, Matt Weidner and Lisa Epstein of ForeclosureHamlet.org join me to explain the significance of the decision.

SECOND STORY…

A popular blogger, Marco, from OhioFraudclosure.blogspot.com, went over and above the call of duty when {the day after}Occupy Wall Street’s first foreclosure recognition day {Dec 6th}, he managed to stop a homeowner from being evicted. Marco joins me from Ohio, so you’ll hear the whole story straight from the horse’s mouth, so to speak.

Just click the PLAY button below and in just 30 minutes you’ll get the details from the experts that know the significance that lies behind the headlines and the sound bites.

 (PLAY HERE to Listen, Open or Save as MP3 file (Download MP3)

Breaking News - Foreclosure Crisis Solved

OK - I admit - the headline is a stretch .....but at least I have your attention. Look everyone... we've been in this FRAUDclosure Mess for about 4 years now and sadly nothing has changed! We've tried to expose the outrageous and illegal behavior exhibited by the all the "banksters." We've tried to show the Asleep-At-The-Wheel government entities..... from the White House.....to the courthouse...to the outhouse!! Yet - Nothing changes.

Today, I decided the best course of action is to let a couple "Einsteins" tackle the subject. These two outstanding writers Martin Andelman & Abigail Field have uncovered the "dirty little secret" about this whole foreclosure mess and ....IT WAS NOT CAUSED BY............IRRESPONSIBLE BORROWERS !!!



IRRESPONSIBLE BORROWERS

The IRRESPONSIBLE BORROWER is a "stereotype" being reinforced by those who benefit by blaming the borrowers. In other words - IRRESPONSIBLE BORROWERS did NOT cause the foreclosure problem! As Martin explains....describing Homeowners in foreclosure (i.e. delinquent borrowers) as "IRRESPONSIBLE BORROWERS" is just "labelling." This is NOT accidental, but instead.... a coordinated and highly sophisticated communications initiative being implemented by motivated experts.

Over the past year, and especially in the last couple days I've spoken to Martin. (Yes !! he was working on a solution and talking by phone - even on a SUNDAY!).     And to be honest....I've never heard him so upset. But, his emotions were contained and overridden with his equally passionate efforts  - to get the truth out !! We discussed the possibility of attempting to get all the major bloggers - as a group - to get the message out - together - jointly. Well... read the part of his post (below) that address that component:

.....Bloggers:  We don’t compete with each other, Abigail and I write articles, we don’t sell advertising, so cross post this article and ask your readers to send it to everyone they know.  And get in touch, because we’re building a list of “thought leaders” and we need your name and contact information on that list.

That way, when we produce an article or research report intended to address the “irresponsible borrower” stereotype, we can email it to you so you know to post it.  We need to get this one message out as far and wide as possible.

.....and to the Attorneys:  ....You have Websites and blogs, but more importantly you have clients you talk to everyday that are a part of this fight.  I know how busy you are, but I need you to spend the extra 10 minutes it takes to not only post this and other articles to come, but to tell your clients about what we’re doing over here… tell them to read it on Mandelman Matters or on your site, or anywhere else.

To that end -  Do not just read this....and then say....WOW...what a great piece of work. Instead Tweet, Link, Facebook, and/or Forward this (by email )to at least 10 people who ARE NOT IN FORECLOSURE. I repeat - forward THIS communication to 10 people...you know.... THAT ARE NOT IN FORECLOSURE. Don't worry, we already have the homeowners' reading, tweeting, and linking - that are suffering ....IN FRAUDclosure.

We need to educate the public.... on the truth .....and we need to do it now!

I have tried, in the past, to use a simple dictionary DEFINITION:

However - TODAY - I ask that you sit back and carefully read - probably the best researched and most complete picture...that explains......how we got here.... and.... what message we need.... to educate....in order to go forward so that history ......DOESN'T repeat itself !!

The TRUTH and great post from MY FRIEND -  Martin Andelman - is linked below & titled:

Our future hinges on just ONE thing…