As American Dream Slips Away, Salvation Army Comes Through

It took a long time for Andrea Wright to achieve the American dream of homeownership.

For years, home was one apartment complex after another. It wasn’t the way she wanted to raise her two daughters, but it was the best she could do.

Apartment complexes always came with rules, Wright said, along with compromises in privacy.

So Wright went to school and learned medical billing. She got a good job, and finally she was able to buy her dream home in Sanford.

“I had my own place, and I could barbecue,” said Wright, who loved sitting outside and tending to the food on the grill. “It had a nice-size backyard and a shed.”

She moved into the house in September 2007. Less than two years later, her world came crashing down around her.

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Struggling with high mortgage bills? You may be a victim of mortgage fraud. Contact MFI-Miami for help. We’ll investigate and do a forensic mortgage audit. We may be able to help you save your home. Contact us today!

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Zero Corner, Debt Costs and Isolation

Think isolation. Think monetization. Think trapped. Think Catch-22, no remotely viable option. Think motive for propaganda. Think end of the road in a gigantic USTreasury bubble, in the process of discredit. Think last resort of monetization, due to the absence of bidders at USTreasury auctions. Think pressure like a vise.

The USGovt is in a great big bind and chooses not to discuss it. As European nations ponder the plight of sovereign debt default, the United States compares an order of magnitude worse from deeper insolvency. A default closer to home is considered unthinkable. So was a broad mortgage market breakdown. So was an endless housing decline. So was an insolvent broken banking system. So were consecutive $1 trillion federal deficits. All were forecasted here.

Read more about U.S. debt

Struggling with high mortgage bills? You may be a victim of mortgage fraud. Contact MFI-Miami for help. We’ll investigate and do a forensic mortgage audit. We may be able to help you save your home. Contact us today!

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The Secret Reason The Bailout Caps On Fannie And Freddie Were Eliminated

Joel Weisenthal, The Business Insider

On Christmas Eve, when the news was assured of getting no coverage whatsoever, The White House announced that it had eliminated the maximum bailout cap for Fannie Mae (FNM) and Freddie (FRE).

As some observers have pointed out, all the move really did was formalize what everyone has figured for decades, that the two zombie GSEs were truly organs of the federal government, and that their debts would be backed up ad infinitum.

So, why the move, and why then?

Credit analyst Edwart Pinto shares his theories.

What the Treasury’s lifting of the bailout caps on Fannie and Freddie might portend for 2010

Might Treasury be taking these steps in anticipation of the following? (Read more)

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Florida Bar Continues Crackdown On Attorney/Mod Company Partnerships

By Diane C. Lade, South Florida Sun Sentinel

A Coral Springs lawyer is being investigated by the Florida Bar Association for her involvement with a South Florida foreclosure rescue company, as trade regulators continue to file actions against attorneys involved in similar operations.

Bar officials confirmed they are investigating Karen Grun and her ties to Housing Assistance Law Center, of Deerfield Beach. The Florida Attorney General’s Office filed legal action against the company and three afilliates in July, claiming they illegally took payments in advance and, in some cases, guaranteed a mortgage could be modified in 30 to 60 days.

The bar has increasingly scrutinized partnerships between lawyers and foreclosure rescue firms, concerned the relationships were forged to skirt state laws barring upfront fees for loan modification work. The professional association, which monitors and disciplines lawyers, opened 195 cases regarding foreclosure rescue practices this year

“They’ve really put a lot of heat on attorneys who were doing this,” said Susan Spurgeon, a Tampa real estate lawyer who has lectured on mortgage modification.

Grun did not return phone messages the Sun Sentinel left at her home and office.

Aventura real estate lawyer Daniel Henry Fox was disbarred, following an investigation, in October after he allegedly? abandonned some of his residential loan modification clients. His office phone has been disconnected and an e-mail from the Sun Sentinel was not returned.

Grun’s name and the phrase “a private law firm” were on Housing Assistance Law Center documents, and state corporate records listed her as the center’s director/president from April through June. Housing Assistance since has been dissolved and it’s telephone number has been disconnected. (Read more)

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