Protecting your right to vote is priority one. As with previous elections the Republican Party has again set its eyes on a goal of restricting as many individuals from exercising their right to vote as possible.
One way that the Repugnant Party is attempting to achieve this goal is by targeting those who have lost their homes to foreclosure. Here is how they are doing it:
1. If you have lost your home to foreclosure, you are a target because you are registered to vote under the address of the home that you no longer own.
2. All voters presenting identification are being screened against a list that is being circulated by the Repugnant Party. That list contains the name of every homeowner who has lost his home due to foreclosure. If you did not update your voter registration card, you will not be allowed to vote in this general election.
3. Go immediately to the nearest Motor Vehicular Department, Voter Registration Center and renew your voter registration card to reflect your new address. If you do not accomplish this task before the end of the day on October 6, 2008, you won’t be a participator in the general election of the century.
There are other ways that the Repugnants are attempting to block voters from the voter’s booth. I have included a message (PDF) from Senator Benjamin Cardin (D) Maryland wherein you can make yourself aware of other ways that you can lose your right to vote. Senator Cardin participated in hearings to uncover the ways your civil rights are being violated by a coalition of Republicans hell-bent on disrupting voters at the polling booths.
Showing posts with label foreclosures. Show all posts
Showing posts with label foreclosures. Show all posts
Friday, September 19, 2008
Friday, September 12, 2008
What is the difference in rescuing homeowners...
What is the difference in rescuing homeowners from foreclosure as oppose to bailing out the banking institutions that made the bad loans to those who are losing their homes? How do we justify using taxpayers money to prop up financial institutions that are going under because of bad choices made by their CEOs? Why is not Congress investigating the Officers of these institutions with an eye toward prosecution? I have been asking myself these questions and more and here are my thoughts.
It would seem to me that if everybody was able to make his or her mortgage payments that we would not have this situation to began with – think about it! What if we retool every loan that was an ARM and automatically re-financed it for a fixed rate loan? And suppose we also re-negotiated the terms of the loan so that the loan payments could be reduced by extending the length of the loan – a thirty year now becomes a forty-five year loan. Suppose we instructed all banking institutions to exercise flexibility with each of its customers that are delinquent in terms of making it possible for that customer to keep his home. Of course, the person that has lost his job is without hope of being able to pay his mortgage, and as such, would not be a candidate for recovery.
If we did all of these supposed actions, or some of the supposed actions, then banks would continue to get money from their marginal loans and the banking institutions would gain time to bring this situation under control without the help of the government. What is causing the problem for everyone is the number of people that are not paying because the loan payment has escalated beyond the amount of money that they are making per month.
Bailing out the financial institutions is hopelessly impossible to fathom when you began to realize that these institutions will still have a list of properties that they will need to dump at less than value. How will the Treasury Department regain the money that was extended to these banking institutions in a vain attempt to rescue them? Why not let the owner keep the property and pay you something rather than repossessing the property with no further recourse to the shareholders of the bank/financial institutions?
For sure, the culprits in this grand scam are the banking institutions themselves. I am not so old as to not be able to recall this same situation occurring in the real estate industry of Japan. How did the Japanese get a grip on the disaster that they erected for themselves – they realized that saving the institutions was not the problem? They refinanced all of the loans of these over-appraised homes so that the responsibility for repaying the loan extended into the second, third, and in some instances, the fourth generations of families. That simple solution stopped the hemorrhaging of their banking institutions.
Congress, are you listening?
It would seem to me that if everybody was able to make his or her mortgage payments that we would not have this situation to began with – think about it! What if we retool every loan that was an ARM and automatically re-financed it for a fixed rate loan? And suppose we also re-negotiated the terms of the loan so that the loan payments could be reduced by extending the length of the loan – a thirty year now becomes a forty-five year loan. Suppose we instructed all banking institutions to exercise flexibility with each of its customers that are delinquent in terms of making it possible for that customer to keep his home. Of course, the person that has lost his job is without hope of being able to pay his mortgage, and as such, would not be a candidate for recovery.
If we did all of these supposed actions, or some of the supposed actions, then banks would continue to get money from their marginal loans and the banking institutions would gain time to bring this situation under control without the help of the government. What is causing the problem for everyone is the number of people that are not paying because the loan payment has escalated beyond the amount of money that they are making per month.
Bailing out the financial institutions is hopelessly impossible to fathom when you began to realize that these institutions will still have a list of properties that they will need to dump at less than value. How will the Treasury Department regain the money that was extended to these banking institutions in a vain attempt to rescue them? Why not let the owner keep the property and pay you something rather than repossessing the property with no further recourse to the shareholders of the bank/financial institutions?
For sure, the culprits in this grand scam are the banking institutions themselves. I am not so old as to not be able to recall this same situation occurring in the real estate industry of Japan. How did the Japanese get a grip on the disaster that they erected for themselves – they realized that saving the institutions was not the problem? They refinanced all of the loans of these over-appraised homes so that the responsibility for repaying the loan extended into the second, third, and in some instances, the fourth generations of families. That simple solution stopped the hemorrhaging of their banking institutions.
Congress, are you listening?
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