Blog Category: Home
Owners For Justice
[Foreclosure Town Halls 1m video, Press Release, Radio Announce]
BELOW IS BANK INSIDER NEWS.
Please forward this news to all county officials, supervisors, county
attorneys, county recorders, everyone in your Â address book, all local
radio and tv stations.Â
Copied below is an email solicitation for me, CJ Holmes, real estate broker, to sign up for an REO webinar with absolutely scary news about the cancellation en masse of loan mods.Â
This hit my email on 9/30/12 at 8:14pm:
Please make arrangements to attend one of the webinars listed below.Â
You will be part of a group of select Sonoma ctyÂ real estate
professionals who will qualify to apply as an REO partner for one , or
several of the financial institutions who have been affected by the recent cancellation of federal mortgage debt relief programs . HAMP
has officially cancelled 1 million loan mods, as foreclosure filings
are beginning to surge once again with the economy heading into the
fourth quarter. of 2012. The Treasury Department is reporting
that 229,185 permanent mods have already re-defaulted and that 16% of
trial mods have quicklyÂ gone back into foreclosure. These numbers are expected to rise significantly as the shadow inventory backlog becomes financially unmanageable for banks.
In addition, the recent mandate by the
administration that Fannie Mae and Freddie Mac discontinue writing down
underwater mortgages has paved the way for the initiation of a record
number "strategic default" foreclosures.Â A documentedÂ 1.1
million homeowners have simply "walked away" from undervalued homes to
avoid heavy IRS penalties that are scheduled to resume January 1, 2013.
These recent changes in legislation have prompted increased filings in
Sonoma cty. Government controlled entities like Fannie Mae, Freddie Mac,
and HUD, as well as many of the nation's largest banks are scrambling to dispose of REO inventories as quickly as possible.
Itâ€™s news like this that inspires me to do everything possible to stop foreclosures NOW.Â
Counties need to immediately eminent domain ALL securitized loans and
foreclosures of securitized loans and stop the banks from more
fraudulently foreclosing.Â If we donâ€™t stop the banks, they will
foreclose the rest of the 40,000,000 securitized loans they have left in
this country, and everyone and our economy will be ruined.
In the Foreclosure Town Halls, I will explain exactly how the eminent
domain of mortgages can be done quickly at the county level strictly
for public benefit (not private profit) and immediately halt all
foreclosures on every one of those loans.Â
These loans can then be modified (my suggestion) to 80% loan to
market value, with credit given for the original down payment, 2%
interest rate, 30 year fixed, payments being made to the
county.Â Allowances can be made (payments deferred) for those that lost
jobs until they become employed again.
This will keep owners in
their homes, stabilize market values, allow real estate transactions to
return to normal,Â eliminate the tremendous fear of loss pervading our
economy.Â Â It will provide a tremendous revenue stream for our counties,
and combined with a public bank, will provide all the credit for
redevelopment, infrastructure, and refinancing the county needs without
having to go to private investors.
The vacant foreclosures taken by eminent domain can provide homes for
those that lost homes to foreclosure, again with loan terms as
mentioned above to these new owners, providing the best restitution
possible for the bank theft of their homes.
Foreclosure Town Halls are taking off like wildfire â€“ with 3 firm
dates, 13 cities seeking venues and dates, and interest from 5 other
states.Â Get your date scheduled now.
Holmes, real estate investor since 1977, broker since 2005, and market analyst
since 2007, has personally handled hundreds of transactions, viewed thousands
of properties, and dealt with countless agents.Â She also owns a
portfolio of income producing properties, and has developed unique market
analyses to determine and predict price trends, which principles apply to
markets nationwide. She
recently founded Home Owners For Justice and can be contacted at (707)