Why Everyone Should Support Principal Corrections on Mortgages

First, let’s talk to the guy that says homeowners shouldn’t get a break because it would be unfair to him. After all he paid his mortgage and he is still paying his mortgage and nobody is helping him, right? Wrong. Everyone who has a mortgage is getting a federal subsidy. They get to pay less [...]

FIXING THE DEFICIT: NY TIMES CHALLENGE TO READERS

After 40 years of cutting costs and spending the American government has somehow avoided a conclusion that is so obvious that any child over the age of 10 would be able to give you the answer. This reminds me of the 30 year study by the American Medical Association in which they concluded that children [...]

$120 Billion Owed to US Treasury in Excise Taxes?

by Anonymous2 Editor’s Note: The reluctance of Federal, State, County and local agencies to collect taxes, fees, fines and penalties for transactions, failure to file and fraud is testament to the power of politics in our current society. I have it corroborated by dozens of experts from government agencies and tax experts who do not [...]

REMIC EVASION of TAXES AND FRAUD

I like this post from a reader in Colorado. Besides knowing what he is talking about, he raises some good issues. For example the original issue discount. Normally it is the fee for the underwriter. But this is a cover for a fee on steroids. They took money from the investor and then “bought” (without [...]

Tax Apocalypse for States and Federal Government Can be Reversed: Show Me the Money!

SEE states-look-beyond-borders-to-collect-owed-taxes states-ignore-obvious-remedy-to-fiscal-meltdown tax-impact-of-principal-reduction accounting-for-damages-madoff-ruling-may-affect-homeowner-claims taxing-wall-street-down-to-size-litigation-guidelines taking-aim-at-bonuses-based-on-23-7-trillion-in-taxpayer-gifts payback-timemany-see-the-vat-option-as-a-cure-for-deficits As we have repeatedly stated on this blog, the trigger for the huge deficits was the housing nightmare conjured up for us by Wall Street. Banks made trillions of dollars in profits that were never taxed. The tax laws are already in place. Everyone is paying taxes, [...]

States Ignore Obvious Remedy to Fiscal Meltdown

without raising taxes one cent, many states could recover much or all of their deficit and perhaps some states could be looking at a surplus. The money is sitting on Wall Street waiting to be claimed through existing tax laws, regulatory fees, and even damage claims much like the Tobacco litigation. Editor’s Note: Bob Herbert [...]

FLORIDA BEWARE!! FBA non-judicial foreclosure initiative

Florida Bankers Association, controlled by national and supersize regional banks are trying to convert Florida to a “non-judicial state.” DON’T LET IT HAPPEN!!!! Start writing letters and get others to write letters to the Republican controlled Florida legislature. This effort will not only deny homeowners essential rights it will vastly increase the pace of foreclosure [...]

Philadelphia Gives Homeowners a Way to Stay Put

The real story with real solutions or at least partial solutions. Sheriff Green started all this. Bravo. Now start thinking of all the profits, transfers and records that should have been reported, filed and taxed and the state budget problems will be over. November 18, 2009 Philadelphia Gives Homeowners a Way to Stay Put By [...]

DO NOT Walk Away From Your Home: Pretty Good Advice

DO NOT Walk Away From Your Home Submitted by Harry on Thu, 02/21/2008 – 01:38. There are a lot of people out there that are in such dire financial straits that when it comes to their home they might feel the best thing is to just walk away. After having been served with a foreclosure [...]

Private Taxation — American Healthcare

The answer to our unique American set of issues is not a single issue proposed solution, but a sea change in our premise: either we are a nation of people and laws to protect, defend and promote the health, safety and welfare of all our citizens or we are a vehicle for corporate interests that [...]

Mortgage Meltdown: Time for Groundhog Day reversal

Paulson’s announcement is really only a re-hash of prior “hope” and other plans. The important thing is that government and private sector are talking and starting to work together. We can only hope that they finally get down to business before the 30 day voluntary freeze is over and that the project, which is based [...]