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Entries tagged as housing

Fed Confused on Policy

May 13, 2008 · No Comments

Virtually ALL of the the decisions concerning money supply and “regulation” are being made in the private sector which is devoted to one thing by mission and by intent: transfer of wealth to the big dogs in the private sector. This clearly government function, as specifically expressed in the U.S. Constitution has been abandoned by government and usurped by the private sector.

By allowing tainted money into the political system, actions that had been plainly illegal, immoral and unethical have become a way of life, legalized by laws passed to satisfy legislator’s obligations to lobbyists. Obama’s call for reigning back the forces of money from the private sector is a call to arms and a call for alarms — to regulate and disclose the billions of dollars spent by credit/financial industries, oil and gas, coal, drugs, healthcare and crime (yes, crime because close examination shows that some private sectors will ONLY make money if the jails are full).

The purpose of government — to be the referree between capital and labor in a market allowing forces of supply, demand and innovation to determine outcome — has been abandoned and must be re-asserted. If not, we become a third world country where the rich live in electrified bunkers with their own security staff and the rest of the population remains hopeless poor and in debt. The risk of violent revolution, food riots and knee-jerk policies generated from fear or anger will be the rule rather than the exception. This is hardly the result intended by the framers of our constitution.

As the comments indicate, the Fed policy-making apparatus is in tatters.

  • It lowers the Fed overnight rate and interest rates go up — something that was thought impossible by many people. 
  • It confronts hyper-inflation with a mixture of mentioning how serious the issue is and then lowers rates again, which we all know means increasing the money supply and increasing inflation. But then lenders still refuse to give loans to small business, homeowners and other key parts of the credit cycle that spur the economy. 
  • The plain fact is that the Fed is not having much effect at all on anything. 
  • It missed the opportunity to regulate and increase its influence to thwart the bubble in housing because politically it was expedient to do so in a Repiublican administration. 

We all pay the price as the economy and our society commences the wrenching process of remaking itself with a solid foundation of productivity, more even distribution of purchasing power, less impulse purchasing, more saving, and the prospects of slower growth and recession here and abroad.

The FED is diminished, probably permanently. Up until now nobody has addressed the issue head-on that neither the Fed nor the U.. Treasury, nor the Bureau of Engraving and Printing are having much impact on money supply, interest rates, prices or economic growth.

Virtually ALL of the the decisions concerning money supply and “regulation” are being made in the private sector which is devoted to one thing by mission and by intent: transfer of wealth to the big dogs in the private sector. 

Pianalto: Fed’s strategy compatible with low inflation rate
By William L. Watts
Last update: 7:04 a.m. EDT May 13, 2008
LONDON (MarketWatch) — Cleveland Federal Reserve Bank President Sandra Pianalto said Tuesday that inflation remains a top risk to the economic outlook, but that the Federal Reserve’s rate-cutting strategy likely wouldn’t stoke inflationary pressures. In a speech prepared for delivery in Paris, Pianalto said she finds herself in a “challenging environment” as a policymaker. “While even the core price measures in the United States are rising somewhat faster than I would prefer, and inflation presents a key risk to my outlook, I believe that the Federal Reserve’s policy strategy remains compatible with a low and stable inflation rate,” she said. Pianalto said it was important to distinguish between inflation and relative-price pressures. End of Story

Categories: Bush · CDO · CORRUPTION · Eviction · GTC | Honor · Mortgage · Obama · bubble · community banks · credit unions · currency · education · foreclosure · foreign relations · inflation · interest rates · politics · securities fraud
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Mortgage Meltdown: Abandoned Homes Torpedo Neighborhoods

April 28, 2008 · 3 Comments

When foreclosures rise, crime often follows, researchers said. A 2005 study by the Georgia Institute of Technology and the Woodstock Institute found that, holding other factors constant, each foreclosure in a 100-house neighborhood corresponded to a 2.4 percent jump in violent crime.

ONE IS LED TO WONDER WHEN THE BIG BOYS ARE GOING TO REALIZE THAT FORECLOSURE IS THEIR WORST ENEMY. EMPTY HOUSES RESULTS IN DIMINISHED VALUE OF THE ASSET. WHY WOULD ANYONE WANT THAT?

washingtonpost.com

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As Foreclosed Homes Empty, Crime Arrives
By Jonathan Mummolo and Bill Brubaker
Washington Post Staff Writers
Sunday, April 27, 2008; A01

 

The growing foreclosure crisis has forced suburban law enforcement agencies to tackle a new challenge: policing empty houses.

As evictions mount and many houses remain unsold for months, even years, vacant properties have become havens for squatters, vandals, thieves, partying teenagers and worse, officials said.

In Springfield this winter, Fairfax County police found blood inside a vacant house and traced it to an injured sexual assault suspect who had been hiding there before he stole a car and fled. He was eventually caught in Maryland, police said.

About the same time, a 27-year-old woman was arrested by Loudoun County sheriff’s deputies after she, her husband and two children moved into a foreclosed house in Ashburn and allegedly tried to use forged documents to convince officers that she was the new owner, officials said.

“These people even managed to get the electricity turned on in their names,” said Sgt. Shelby Ruby, a Loudoun deputy. “That’s some nerve, right there.”

In some localities, officers are targeting vacant houses on regular patrols, using maps of foreclosed properties as guides, while working with community watch groups to identify trouble spots. Empty driveways, overgrown lawns, realty signs, lockboxes and “No Trespassing” notices in windows are all signals to would-be violators, police said.

“The bad guys, the criminals, that’s how they think,” Fairfax County Police Lt. Daniel Janickey said.

Standing in the weeds of a trash-strewn yard at the house where the sexual assault suspect hid, Janickey pointed past the broken latch of a shed door toward a folded, worn mattress inside.

Across the property, more remnants of squatters — clothes, beer cans and a used tube of toothpaste — were strewn around a playhouse. A makeshift wooden step had been placed at the edge of the yard to help people hop a fence and cut across the lawn.

Authorities in the 38-square-mile Franconia police district are stepping up efforts to monitor an estimated 300 to 400 vacant houses. “I think it’s just unusual to see a community like this in Fairfax County,” Janickey said. “There’s no one there for accountability.”

Janickey’s officers have compiled a list of vacant houses that hangs in the station’s roll call room. A sergeant also posts pictures of known flophouses in the district. Patrol officers check to make sure that doors of vacant houses are locked and look for signs of vandalism and squatting.

In many cases, damage is inflicted by frustrated former homeowners.

In rural Lucketts in Loudoun, for example, an evicted homeowner made a defiant, if illegal, last stand, turning on an outdoor spigot before driving away, apparently so the property’s well would go dry, authorities said.

“People are angry,” Loudoun Sheriff Steve O. Simpson said. “And our deputies who go to these houses to serve evictions find that people have stripped their houses of toilets and stoves and refrigerators.” At the Lucketts property, deputies found that the hardwood floors also had been stripped.

Such trespassing also is cropping up in Kettering in Prince George’s County, which has the highest foreclosure rate of any county in Maryland, said Phil Lee, president of the Kettering Civic Federation.

“It’s tragic. Middle-class America is not accustomed to this,” said Lee, who said two houses were recently boarded up to prevent trespassing. “In some cases, they are the former homeowners, who have nowhere to go. They just stay in the houses. They get evicted or they move, but they know it’s vacant,” so they come back.

Foreclosure filings in the region have soared over the past year.

Last month, Prince William County had the most new filings of any Washington area jurisdiction, followed by Prince George’s, Fairfax, Montgomery, Loudoun and the District, according to RealtyTrac Inc., a California-based company that tracks real estate trends.

When foreclosures rise, crime often follows, researchers said. A 2005 study by the Georgia Institute of Technology and the Woodstock Institute found that, holding other factors constant, each foreclosure in a 100-house neighborhood corresponded to a 2.4 percent jump in violent crime.

Law enforcement agencies typically don’t keep statistics for crimes that occur in vacant houses, but the concerns of local officials are mirrored across the nation.

In Modesto, Calif., police said marijuana is being grown in the yards of vacant houses. In Atlanta, police are compiling lists of vacancies, where drug use, prostitution and squatting are becoming more common, a police spokesman said. In the Tampa area, the Hillsborough County sheriff’s office has assigned a detective to specialize in metal theft, a response to a spike in copper tubing, air conditioners and other appliances being stolen from vacant houses.

In Prince William, police said real estate agents have been calling stations to ask that officers watch for trespassing at houses they are marketing. The Circuit Court recorded 3,344 foreclosures (a number that includes foreclosures in the city of Manassas and Manassas Park) last year, up from 282 in 2006.

The department’s crime prevention unit has begun distributing fliers to teenagers that warn of the serious charges that could follow if caught partying in a vacant house: burglary, trespassing, destruction of property.

“Is it OK to ‘hang out’ in a house or building that is vacant . . . ?” the flier asks. “NO,” it answers. “Even if no one is living in the house, someone still owns the house/building and you would be committing a crime. . . . Think twice before entering a vacant building.”

It’s a message aimed at teens like the ones Doug Thompson, 46, observed in West Gate, a neighborhood in the Manassas area riddled with unkempt foreclosed properties.

Thompson, who lives on King George Drive, said he recently saw teenagers on the block using the back porch of a neighboring vacant house as a skate park.

But what concerns him more than youths acting out is the degradation that comes with houses left unattended.

“Look at all the grass grow,” he said, pointing to a jungle-like front yard across the street. “They just start falling apart. . . . Rats’ll start accumulating. I’m sure it will become a problem.”

Some officials said that monitoring vacant houses is not straining department resources, that it’s something for officers to do in their downtime, between calls. But others, such as Loudoun’s force, are beginning to feel the burden.

“It’s costing the county money,” said Ruby, who has at least one deputy working overtime every day.

Deputies had to evict one South Riding family three times before they moved for good, officials said.

“It’s the unfortunate state of the economy,” Ruby said. “And the economy is a big reflection of the job we all have to do.”

Categories: CDO · Eviction · GTC | Honor · Investor · Mortgage · bubble · currency · foreclosure · inflation · politics
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Mortgage Meltdown Still in Progress and Getting Worse

April 26, 2008 · 3 Comments

 

  • Somehow, the housing trouble has to at least flatten out. As long as that is going on, I think the pressure on the credit system is going to persist. It is kind of the leading indicator. It is where the trouble started. We have to underpin the consumer. That is why this is different. That is why this is like nothing we have had before.

Here is a man who has “seen it all” and who doesn’t like what he sees. Echoing our continuous please for creating an atmosphere of safety or “amnesty”, Bernstein sees a long haul without much lift unless we address the etnire spectrum of risk-taking. Confidence levels are so low that it hard to imagine, each month, that they could go lower. But they they keep sinking. Bernstein’s vision is one of reality, encouraging us to “snap out of it” and hope, if we get our act together without tripping over ideological differences. 

 
The Wall Street Journal  
April 26, 2008
 
 

One Guy Who Has Seen It All 
Doesn’t Like What He Sees Now

By E.S. BROWNING
April 26, 2008; Page B1

Peter Bernstein has witnessed just about every financial crisis of the past century.

As a boy, he watched his father, a money manager, navigate the Depression. As a financial manager, consultant and financial historian, he personally dealt with the recession of 1958, the bear markets of the 1970s, the 1987 crash, the savings-and-loan crisis of the late 1980s and the 2000-2002 bear market that followed the tech-stock bubble.

[Peter Bernstein]
One of Peter Bernstein’s worries: ‘If China goes into a recession, God knows.’

Today’s trouble, the 89-year-old Mr. Bernstein says, is worse than he has seen since the Depression and threatens to roil markets into 2009 and beyond — longer than many people expect.

Mr. Bernstein, whose books include “Against the Gods: The Remarkable Story of Risk,” sees two culprits. One is the abuse of securitization — the trend for banks to hold fewer loans on their books and instead turn them into securities that were sold to other investors. The other is simply years of overborrowing by financial institutions and consumers alike.

Mr. Bernstein is hopeful that Federal Reserve intervention will prevent deflation and depression, but he says there is no guarantee.

Excerpts of a recent interview:

WSJ: Aside from securitization, what were the main causes of the problem?

Mr. Bernstein: You don’t get into a mess without too much borrowing. It was sparked primarily by the hedge funds, which were both unregulated by government and in many ways unregulated by their owners, who gave their managers a very broad set of marching orders. It was a real delusion. It was like [former New York Gov. Eliot] Spitzer: “I am doing something dangerous, but because of who I am, and how smart I am, it is not going to come back to haunt me.”

When you think about how all of this will work out in the long run, we are going to have an extremely risk-averse economy for a long time. The lesson has painfully been learned. That’s part of the problem going forward. You don’t have a high-growth exit from this, as you’ve had from other kinds of crises. We won’t have a powerful start, where the business cycle looks like a V. Here, the shape of the business cycle is like an L, where it goes down and doesn’t turn up. Or like a U, a flat U. The reason for that is that people aren’t going to get caught in this bind again. They will tell themselves, “I’m too smart to do that again.” And everyone else is going to be saying the same thing. It is, in fact, going to be a wonderful environment in which to take risk, because there aren’t going to be any excesses.

I’m a child of the Depression, and I am thinking about what the early years were like after World War II. It took a very long time to get the memory of the Depression out of business decisions, and certainly banking decisions. I think this is going to be the same. The Fed, too, is going to be less decisive and is going to feel that what it should do is less clear. One of the things that gave people a sense that they could afford to take risks was the sense that the central bankers more or less know what they are doing. But I don’t think we are going to feel that way going forward.

WSJ: You said that it could turn out that the smart thing to do is to take more risk, because everyone will be so risk-averse. What kinds of investments do you see as the big winners coming out of this?

Mr. Bernstein: You could say: the things that have been beaten down the most, which would be real estate. But I think real estate is going to be under a cloud for so long, and you can’t buy real estate with cash, it is too much money. I think you should go with the stock market. If things are better, the stock market will go up, and if things are awful, the stock market is going to be way down. But it is a place where, if you want to take risks, you’ve got a wide range of choices. This is why I own stocks [in addition to other investments], because I don’t know where the bottom is going to come, and I want to be exposed to every kind of possibility I can think of. And, at least, if you pick the stock market and you are wrong, you can change your mind. There is some liquidity there. Stocks never became cheap, but they didn’t become crazy, the way other assets were.

WSJ: How long do you think this whole process will take, before we get back to normal?

Mr. Bernstein: Longer than people think. The people who think we will have turned in 2009 are wrong. There has to be a respite along the way. Nothing goes in one direction forever. But it will take longer than people think. If that weren’t the case, I would be talking entirely differently. I would be saying, “What an opportunity we have got.” And I just can’t believe that the opportunity is here yet. There is too much to unwind.

WSJ: Can you explain the reason you think it will take a long time?

Mr. Bernstein: We have to go back to a moment when people have the courage to borrow and lenders have the courage to lend. Until credit is going up instead of down, you can’t have growth. Housing has got to be a very important part of that; it always has been. You have to reach a point where somebody says, “This house is cheap, I am going to buy it,” or where some businessman says, “This is a great opportunity for us to expand our business. Everything is available to us.”

If China goes into a recession, God knows. The Iraq war and the whole situation with terrorism, we really don’t know where that is going to come out. There are so many things that have got to get buttoned down before you say that the future looks good enough to take a risk.

WSJ: What kind of indications are you looking for as signs that the economy is about to get better and that the stock market and the investment world are about to turn the corner?

Mr. Bernstein: Somehow, the housing trouble has to at least flatten out. As long as that is going on, I think the pressure on the credit system is going to persist. It is kind of the leading indicator. It is where the trouble started. We have to underpin the consumer. That is why this is different. That is why this is like nothing we have had before.

Before, it was investment that made the V at the bottom of the business cycle. I don’t see real investment turning enough without some sign from the consumer side. Maybe the foreign countries will do it for us. That is a substitute for consumption here. Maybe. But I think that they won’t do enough for us, and maybe will be too infected by us to do it. But maybe growth in Asia will help us. The Asian thing is tremendously exciting.

Write to E.S. Browning at jim.browning@wsj.com1

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Categories: CDO · Eviction · GTC | Honor · Investor · Mortgage · bubble · currency · foreclosure · inflation · politics
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Mortgage Meltdown: Consensus versus Intervention

March 16, 2008 · 1 Comment

  • I’ve been working on this problem for over a year. 
  • No act of prescience or brilliance was required to know that if you pour water from a pitcher, eventually it will be empty even if you splash some more in from time to time. There isn’t enough money in the world to save us from a crash. 
  • The ONLY thing that save our economy and the many other economies of the world that are tied to our fortunes is by consensus: 
  • Stop the foreclosures and evictions, 
  • redo the mortgages with incentives for people to stay in their houses, 
  • create a payment pattern that is possible even if it is not ideologically congruent with your philosophy, 
  • restore CDO values as close as possible to par, 
  • enlist the culprits who created this mess because they are the ones with the open channels to get this done, 
  • add to the recent moves to accept CDOs at or near par for valuation purposes (thus increasing capital reserves and allowing the release of billions in loans that are waiting to be made), 
  • change the rules of civil procedures in each of the states on foreclosure to stop or slow them down, 
  • change the rules of civil procedure on pleading to force the foreclosing party to state its case more clearly — especially as to ownership of the loan, 
  • change the rules of civil procedure to stop or slow evictions, and 
  • change the rules of civil procedure to require mediation after the issues are joined, thus providing some breathing room for this all to get worked out. 
  • Legislation can’t do it, executive leadership won’t do it. That leaves the rest of us and hopefully the judiciary, without sacrificing due process and protection of property rights. 
  • It can ONLY happen with consensus. Without agreement, this will crash, inflation will destroy what is left of the middle class and a good part of the upper class and drive the U.S. into third world status before you can say “$30 per gallon.”

Categories: CDO · Eviction · GTC | Honor · Mortgage · Obama · bubble · community banks · credit unions · currency · education · foreclosure · foreign relations · inflation · interest rates · securities fraud
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Mortgage Meltdown: Business Plan for the Distressed Homeowner

March 10, 2008 · 2 Comments


Here is my answer to the heart wrenching story presented by one of my readers. Perhaps it will help others as well. 

Your story is heart wrenching. You did everything right and it came out wrong. The deck is stacked. Perhaps there is a silver lining in all this. You have some extensive experience in dealing with this situation. I don’t know your level of education or training or job (and I would like to hear about that). There IS a possibility that you could turn this situation around to your advantage and I am willing to help you do it. I can’t give you money but I can give you an idea that might help you make more money than you did, and even acquire another house with real equity. If this strikes you as pure fantasy and not helpful then ignore it. But if it resonates with something inside you, then pursue it. Game the system against the financial perverts that started this. Here is the outline of a business plan that might help you heal from this trauma and give you the support, money and resources to get even.

1. Advertise and conduct seminars on the process of foreclosure from the lay perspective. You can either charge a nominal fee for the seminar and the charge for tapes or pamphlets which you can clearly write, since you are so articulate. Let me see the drafts and I will spruce them up a bit.

2. Form an alliance with a local attorney who understands the foreclosure process AND who is actively interested in taking on big money interests.

3. Go to see the Administrative Judge in your local area, and bring with you the proposed rule changes I have published.

4. Let the Press know what you are doing. Get on talk radio shows. It is easy. They are all hungry for material (of course I’d like a plug for my site).

5. Write a book and publish it digitally by email on eBay.

6. Form an association of distressed homeowners and pool what little resources you have so that defenses can be mounted in court.

7. Read up on Banking, currency, and lending and become an “expert” witness. it is easier than you think and you can charge a lot of money.

8. Go see the Sheriff who handles evictions and sound him/her out on their attitude on evictions — particularly their resources on handling the evictions from thousands of homes when they are short-staffed, and suffering cuts in budgets because of declining tax revenues.

9. Write to the consumer affairs office of your State Attorney general and file a complaint against your lender. 

10. Go see you local state legislator and ask him/her what they are doing about the future of a society that is heading toward ruin.

11. And by all means get your writing started on a blog. You can tie in through Google Ads a feature that will enable you to get paid every time there is a click on the Ads that Google places there. Google will figure out the ads to place. 

12. Be open about your problems. Maybe go into the campaign offices of candidates running in your area from Federal (President) all the way down to the most local offices. Ask for position papers and help candidates that seem like they are on board with your agenda. Disregard party affiliation — this is no time to stand on ceremony.

13. Join other associations that are being formed and find out what they are doing and how you can help. They might return the favor.

14. Finally, if you wish, you can send me copies of all relevant documents concerning your closing, your loan and your foreclosure. I can draft a letter to the lender demanding return of your property, damages etc. It might not do any good but I can tell you the lenders and all the other people in the this chain of fraud are VERY nervous about going to jail. If you want to do this, then let me know and I’ll give you the address. 

15. If you are successful in coming up with money or getting some relief from your lender, or both, then start looking for houses owned by investors and making low-ball bids with THEM carrying the paper (the mortgage). I have been through these markets before and I can tell you with certainty that if you are prudent and you look around, you will find something not only satisfactory, but surprising. You don’t need money to buy a house. You need a willing seller that is backed against a wall such that he /she must gives terms.

In any event good luck and God Speed. May your life recover and rebound with plenty and with meaning such that you and your family are healed from this tragic miscarriage of what was once called “justice.”

Categories: CDO · Clinton · Eviction · GTC | Honor · Investor · Mortgage · bubble · community banks · foreclosure · inflation · interest rates · politics
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Mortgage Meltdown Tragedy: No Checks, No Balances, No Honesty

March 10, 2008 · 2 Comments


Reality Check

Before we go forward with who called who a monster, or Ken Starr, bringing back memories of deceit, sex, lies and and videotape, let’s do a reality check. People are hurting and the candidates are getting information from advisors who simply don’t get it: the monster here is the economy, reflecting society decisions that are having screamingly negative consequences in people’s daily lives. 

Whether some adviser made an off the cuff remark does not address the real issues. We are bleeding all over the place — housing, jobs, the dollar, earnings, wages, purchasing power, and of course the Iraq war which represents an expense that cannot be covered and will drive up inflation to incomparable levels. 

But more than anything, it is the story of people, one at a time who are trying to make it. The stories are heart wrenching as the American Dream fades away from them while the Judiciary, the legislatures, the congress and the President do nothing but argue over ideology. While I don’t agree with everything this reader says, I agree with 99% of it. As we do pause for our fallen heroes in Iraq, take a moment and read this, a story of the fallen heroes who fought for, achieved and lost the American Dream.

Neil,

I had drafted a reply to your message many days ago. In it I had waxed so eloquently in regards to our situation, the same or similar, as that so many others are finding themselves in. 

It being that which may well prove to be our ultimate destruction…

…Despite our unwavering decision to fight the good fight for all that we’re worth!

It is an overwhelming and discouraging thing, to find one and ones family the target of such an attack by predatory lucre loving vermin, disguised as lawyers, bankers and “real” human beings! 

Vermin who have made it their goal to rob millions of people of billions of dollars and property, by manipulating and coercing the uninitiated public into forfeiting, not only their wealth and the fruits of their toil and tears, but also their very homes, and sense of sanctity, safety and security… 

…All in the name of “business” and “making a profit”!

It behooves us to comprehend how “making a profit” can be considered “profit”, when the “rewards” come from theft and deception?

In our obviously defective perception and understanding of the term “profit”, it has always meant the reward of gain that was received through the investment of something that one had right to, or had earned, and which had yielded fruit from being so invested.

Profit cannot, by our understanding, come from theft or guile, only the exact opposite can be claimed as being the reward for such negative and patently evil acts!

Thus, the manner in which these evil beings has contived and conspired to strip, not only us, but everyone who lives, as we all have need of shelter and sanctuary, as is offered by a “home”, and a “dwelling”, of every bit of the fruits of our labors, is completely and unspeakably reprehensible and unconscionable!

This is especially compounded when the thefts are then converted into “legal” business transactions, through the deft manipulation of the so-called judicial system by these vermin!

There once was a time when the term “legal” was synonymous with “right” and “just”. 

But that comparison is more of an exact antonym now. And it has become completely unsettling and deeply disturbing to see how wrong has become right, and that right no longer exists…

…Outside of some imaginary quality of character. and illusionary precept for a standard of personal conduct that is but a fading memory of another era, and which has died, or become extinct through lack of use, or belief.

To have watched, over the years, as the sole motivation for the peoples of a society, of which one is a member, has become the pursuit of personal enrichment for oneself, and damn the cost or expense that ones own gain of lucre may cost another, is like watching one’s own death while millions stand by, able to intercede and to stop the untimely demise, but whom remain unwilling to do so, without being compensated for doing so.

The fact of the matter is that we’ve become so acutely aware that the rampant greed which is consuming the people that were once considered fellow countrymen and women of ours, that it has resulted in our own awareness of being as aliens in a strange land! 

Not one of the multitudes of persons and businesses that we have paid out thousands to, for aid and assistance in our attempts to turn the tide of the onslaught against ourselves, and that against multitudes of others, also, has served to buy us one bit of genuine and effective help, or provided the least amount of effect in stemming or diminishing the effect or result of this attack.

On the contrary, the greed has so overcome this society and it’s more`s and morals so completely compromised, that no one seems to feel compelled to even try to live up to their promises of providing the services and/or results, for which they all demand to be paid so handsomely for, in advance!

One becomes painfully aware that the entire society, as a whole, has become nothing more than a pack of predators. All of whom, seek to devour the individual and consume all of their resources, with as much compassion and finesse as that exhibited by a feeding school of piranha’s!

We’re fought the good fight, so hard and for so long, that we’ve now been completely drained of resources, and our very spirit’s have become consumed and are nearly extinguished by the multiple manifestations of oppression and evil that have engulfed us and our lives!

It becomes easily understandable what should so motivate those poor deranged individuals, whom one hears about on the evening news, with increasing frequency, whom go into some public place, somewhere, pull out their arsenal of armament, and begin mowing down “innocent” victims, in droves!

One can easily imagine that these poor deranged individuals were once normal and compassionate person’s, also… 

…And, in fact, the true “innocent” “victims” of that self-same society, which they seek to lash out at…

… In a futile and self-destructive last dying act of self- defense!

For so long, now, we have held the belief that we would be able to overcome this onslaught against good, right and decency. 

And that, in so doing, we would be able to become members of a vanguard wave of change. 

Whereby, we could assist others in winning their own battles in this cause. Helping to guide them through the mine field, obstacle course, pitfalls, snares and booby-traps that await them, and, thereby enable many to reach that same elusive (and apparently imaginary) goal that we have fought so diligently and faithfully to attain.

Unfortunately, those opposed to us have been doing what they do for so long, that they have become far too efficient and proficient, from experience and practice, for the efforts of those like ourselves, taken in response to their greed and aggression, to be of any genuine use, or effect.

It has become impossible to continue to resist any longer and still retain sufficient strength, and barely adequate resources, to even move one’s physical presence and property to some other location… 

…Though God, alone, knows where that might possibly be, and He seems to have no concern, regarding us in this matter, any more…

We’ve exhausted far more money, and all of our time, spirit and attention, in fighting these thieves and crooks, than ever would have been required, had they not taken the initial illegal steps of wrongly declaring us in default, and then manipulating the payment history and records, thereby making it impossible to determine even who had actual possession of the note and right to initiate the foreclosure proceeding, or who, in fact, actually had begun it?

Through deception, sleight of hand, and hiding behind so many facades and fronts, the bankers have perfected the mechanism by which they do steal all of the wealth of the people, and once they have wrongfully taken that, then they take the people’s homes, also!

This country is being destroyed, even as I write this, by these evil people… 

…And, all of the wealth and fruits of our labors were, so long ago, traded off by traitors to our country…

… Those who were elected to serve and protect, and now we have all become serfs to the elite, the European banking cartel, which owns and controls the entire wealth and governments of the world, and especially America!

For three years we have fought valiantly to make our stand for what is right…

But, when faced with the unlimited resources at the disposal of our enemy, it finally becomes a matter of nothing more than defeat by attrition, in the end.

Even our faith in the Omnipotence and Omnipresence of God, has served to provide no reconciliation nor reprieve in the matter, and we feel that we are merely living out then last dying nervous twitches of a corpse that has already had it’s head detached and it’s heart removed from within it’s chest.

It is easy for one, whom has not been subjected to such evil and oppression, to encourage those whom are, to hold on and continue to fight.

But you have no idea the toll that it takes upon one, when one’s entire life becomes focused on defending oneself, and ones family, from such a relentless, heartless and continual onslaught and never ending attack, being made by far too many persons, on far too many fronts…

… Nor the depth of despair that engulfs one, when they realize that they’ve effectively wasted the last years of their life, in futile resistance to a lost cause, and an impossible to win, in their own strength, against such organized and specialized forces, battle for their rights and property, not to mention morals and ethics!

At this point in time, we’ve been reduced to having to declare an emergency bankruptcy, in order to temporarily stay the enforcement of a Writ of Restitution, and of having only approximately $3,000 worth of the Federal Reserve debt notes in our possession, which we can either exhaust by throwing them in with all of the others we’ve given in vain to save ourselves from this grievous wrong.

 Or, to finally admit defeat, and drag ourselves off into some dark corner, to hide and lick our wounds, hopefully to survive to fight another day.

Our lives have been irreparably damaged, our peace of mind destroyed, and our personal resolve and resources bankrupted.

The only thing good that has come of this, is that those behind the banking cartel that controls this country, and the entire world, for that matter, have earned themselves one more dedicated enemy, whom shall expend every possible avenue available to them to disrupt, harm, hinder or destroy anything and everything that those evil and demon controlled and inspired excuses for humans ever say, attempt to do, claim to possess, or stand for, and to encourage anyone who will listen to do the same.

Alone, we may not have been able to stop them from destroying our lives and stealing our home…

But, thanks to the power of the internet we’ll be able to multiply the effectiveness of our responses to their thefts and attacks, and we are certain that we shall cause them far more harm, damage and expense than they could have incurred, if they’d not sought to steal our home by fraud and deception.

We possess one thing that they can never steal, nor rob from us….

…The absolute knowledge that ours was, and is, a noble and righteous cause, and that, in the end, we win!

Despite any appearances to the contrary in this material world, here and now.

Thank you, kind sir, for your encouragement and attempt to solicit some assistance for us. We’re afraid that it’s far too little, and far too late, to be of any good or effect.

I never thought that I’d say this….

..But, we give up!

It’s become the only choice left..

… If we are to even survive at all!

And I won’t subject my wife to the humility of being forcefully ejected by the sheriff’s from what is rightfully our home….

I’ll put the match to it as we walk out the door, before I’ll let those bastards steal it, though!

The shame of it all is that we have a winning case, but no longer possess the outrageous retainer fee that any competent counsel demands before accepting our case…

…And our window of opportunity to defend ourselves in the matter closes on April 20th of this year!

Goddamn it, all to hell!

With that, I close.

Good day, Neil,

Categories: Bush · CDO · CORRUPTION · Clinton · Edwards · Eviction · GTC | Honor · Investor · Obama · bubble · credit unions · currency · foreclosure · foreign relations · inflation · interest rates · politics · securities fraud
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