Something is Fishy with this entire Real Estate Bubble!

It is the second wave coming of Home Foreclosures, and, commercial on mortgages that were adjustable rates with a term reset where, the mortgage rate for interest and added principle would increase after a teaser period expired.  It was mentioned in previous article:

members.beforeitsnews.com/story/13461/The_FEDS_dont_want_the_heat,_BLAME_it_on_the_BANKS.html

This was a mortgage instrument developed by Congress, as a scheme and now they have been doing minimal to help those who could not afford the new higher payments.

The government used Tarp funds to bail out the Bank Losses, and just about nothing to correct the victims’ injustice.

How could TARP loans to big banks help this mess, when the banks didn’t lend out the majority of it, and instead they invested the low interest loan to make higher interest profits.

A low cost solution idea, would have bailed out every home owner, with no foreclosures, no glut of empty houses for sale, with the prices diving down everyday, no taxes collected from them, neighborhoods going into a blight. Jobs lost because builders had customers scared off by the bubble media frenzy, cheap houses taken away from middle class families, building material demands drop, more jobs lost.

In a simplistic comparison of mortgage payments,

Borrow $250,000  

With an adjustable 3-1 arm at 4% a payment would be about     1194.00 P&I   

With an adjustable 3-1 arm at 4% an interest only payment is      833.00

With a fixed 30 year 5.0% the payment would be                       1342.00 P&I

With a fixed 50 year 5.5% the payment would be                       1224.00 P&I

Most likely many of the foreclosures were on homes that were adjustable rates with interest only payments for a temporary period. As above, someone who was paying $833

per month may be reset to 30 year fixed  being $500 per month more would be a burden  in a down market.  Some may even had unpaid principles added back in to make the reset even more. 

The proper thing for the government to be doing since it was responsible for the nasty mortgage instruments in the first place would mandate the banks to refinance every mortgage that was due to be reset to a fixed longer period, (and forget about the enticed   crash of the values), even 50 years at a slightly higher rate, and give a tax credit to make up for the few hundred dollars a month short fall and have this credit for a limited term, say 48 months until the market came back. If this crash was stopped immediately the values would have sprung back like the stock market did, in 9 months. 

The immediate mandate would have lessened the real estate crash and would not have put anyone out on the street, and market values would not have deflated as they did.

The way this media frenzy handled this mortgage malfunction, it made everyone so cautious about buying that the housing market just about crashed. Much of the un- employement now is in the housing market.

 This is such a sham, it is just UN American, Un Christian for this manipulation and it hasn’t been investigated but it would be a good bet that this was for greed and gain, and to lower, Asset wealth of The Working Middle Class, as an attempt to redistribute wealth for an Un American, ideological, progressive delusional plan which echoes European Socialistic thinking of Government care of everyone’s needs, in exchange of  high taxes and big spending, high debt .

The question I ask everyone, is, Could this all have been, an intentional scheme to bring down our economy to enable the government to win over more control, by putting the economy into a coma while it manipulated the system to get control of the banking System, through consolidation of weaker banks to make big banks even bigger, to pass and control Health Care with 144 added taxes, and to pass Cap and Trade to get more taxes on energy?

Wasn’t it suspicious that NBC reported every day, day and night, how the real estate bubble is going to burst, more and more intense, and this was started in the 1^st Quarter of  2007  It was a situation in which you wondered , who is pumping this reporting obsession, and just before an election year. No one knew what it was exactly about , in fact it emphasized that the housing values were going too high, and nothing about the bad mortgage lending practices originated in Fannie Mae, and Freddie Mac. 

It’s also seems like an interesting coincidence that  President Barack Obama has named Jeffrey Immelt, CEO of NBC Universal parent GE, to his new economic advisory board.

www.broadcastingcable.com/article/173718-Immelt_Named_To_Obama_s_New_Economic_Advisory_Board.php

It’s also a coincidence that NBC was a media aid in the smearing of the Republicans running the country before the election of 2008 and then aided in the Democratic image during the election of 2008 and now is on Obama’s advisory board, and that the GE  corporation has a lot to gain in the medical equipment such as related to the Health Care Bill.

www.gehealthcare.com/inen/

  Then you have GE Capital which is in the Banking Sector.

www.gecapitalrealestate.com/cms/servlet/cmsview/global/prod/en/customer/available_properties.html

On top of all of that Conflict of Interests, I think we also have wind turbines that the Administration is pushing, which I think GE has been manufacturing.

 www.ge-energy.com/businesses/ge_wind_energy/en/index.htm

Well then we have Solar Panels that Obama is pushing!

www.ge-energy.com/prod_serv/products/solar/en/how_solar_work.htm

Question everything, because everything is not exactly what it seems to be!

Our entire government system has been one big Conflict of Interest !

One hand washes the other seems to have been taken to heart !!

November is election time,  and We all need to ask for Term Limits !