Ladies and Gentlemen:

First The CFTC Hearings with Bill Murphy and GATA and now we learn that the banks are initiating 10 Million Foreclosures. If you are going through a foreclosure or having trouble with your mortgage, please join United We Will Stand.  There are places to get help but not from your bank and not from the innumerable scams being perpetrated.

Simply sign our registry and you will be contacted via email. You will instantly become part of the solution. We must gain the attention of the politicians and the Attorney Generals or this nightmare will never end.  DSA

THE LATEST “MODIFICATION” SCAM: “INCONSISTENCY IN YOUR DOCUMENTS”

March 30, 2010

In the past week, we have been literally deluged with calls and e-mails as to the same situation: the “lender” or servicer contacts the borrower (who is in default) offering to do a “loan mod” provided (a) the borrower submits certain paperwork, and (b) the borrower agrees to pay significant sums either toward the promised modification or in connection with a temporary forebearance while the more permanent modification is being processed. In reasonable reliance on these affirmative representations (since they are coming from an agent of the alleged owner of the mortgage loan), the borrower complies by making the payment(s) and by submitting the paperwork. Invariably, however, the “lender” or servicer replies by asking the borrower for more paperwork, then more paperwork, then more paperwork (and more money), until finally the “lender” or “servicer” denies the modification due to “inconsistencies in the paperwork”, without identifying what these purported “inconsistencies” are.

One example involved a borrower who submitted their paperwork five (5) times. Another involved a borrower who paid $12,000.00 toward the modified loan, only to be denied due to “inconsistencies in the paperwork”, followed by a foreclosure and Sheriff’s sale of the property. read more

by Howard S. Katz

3-8-10

Well, the train is pulling out of the station. Gold has said goodbye to the $1,000 level and is off for northern climes. It is not your last chance to get on board, but it is your last chance to get on board at these low, low prices. The hard analysis of the past few months has been identifying the intermediate bottom, but now that that is in it is time to step back and once again focus on the big picture. Friday’s Wall Street Journal has an excellent article on unemployment and the “minimum wage” law, and this is a very good time to discuss this most important subject. read more