One in every 10 mortgage borrowers in the United States is in some stage of foreclosure or is past due on their mortgage payment.*
At the end of October 2008, some 7,500,000 loans were in some form of trouble. That's almost 8 million families in financial trouble. And nearly 10,000,000 homeowners have a negative or no equity in their homes (i.e., what they owe to the banks on their mortgages is equal to or greater than what their homes are worth.)**
From December 2007 through November 2008, Wall Street and the banks have received bailout after bailout from the Federal Reserve and the U.S. Treasury for their sub-prime mortgage and related financial problems that they both help cause and create in the first place.***
These banks got dirt cheap, short-term loans and other bailouts from the Fed and the U.S. Treasury, but these "free money" are backed by the full faith and credit of the U.S. taxpayers. The bank loans and bailouts total some $5 trillion (or $3.5 trillion depend-ing on who is reporting.)**** To see what this amount really looks like, that's $5,000,000,000,000 with 12 zeros!
During this same period, how much did Middle America--including your family--get from the Fed or the U.S. Treasury in terms of "bailouts" or financial help for their sub-prime mortgage or housing problems?
ZERO. That's $0 with zero zeros!
Isn't it time to level the inherently uneven playing field just a little?
In favor of Middle America? And your family?
You bet it is!
Now, you can do it legally! And stick it to the Banks!*****
NO Foreclosures! may be the key to your family's financial future and a solution to stave off your family's home foreclosure.
Your family may even be one of the lucky ones (1 in 5 borrowers may qualify) who can legally stay at your current home without paying a single penny on your mortgage, and your banker or mortgage servicer cannot do a single thing to foreclose on you!
Find out if this is a possibility for your family and, if so, how to utilize this legal loophole as well as other guerilla principles to save your family from foreclosure and financial ruin.
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* A recent TimesOnline.co.uk article (Nov. 11, 2008) titled "Fannie, Freddie in move to ease US mortgage payments" stated that approximately 4,000,000 American homeowners or 9 percent of all borrowers are now in foreclosure or are behind in their mortgage payment as of the end of June, 2008.
** Estimate for the end of 2009 is that some 15,000,000 homes will be underwater (with negative equity), according to a Portfolio.com article dated Mar. 17, 2008 titled "Sizing up the Coming Recession".
*** Read the latest news by clicking on the following links: www.chureport.com
**** Article: "Bailout Price Tag: $3.5T So Far, But 'Real' Cost May Be Much Higher"
Article: "Washington is on the hook for $5 trillion"
***** A book by the late financier and monopolist Frederick Clemson Howe called "Confessions of a Monopolist" explains in plain English what is going on and why:
“These are the rules of big business. They have superseded the teachings of our parents and are reducible to a simple maxim: Get a monopoly; let Society work for you; and remember that the best of all business is politics, for a legislative grant, franchise, subsidy or tax exemption is worth more than a Kimberley or Comstock [these were fabulously rich diamond and silver mining lodes] since it does not require any labor, either mental or physical, for its exploitation. . . . Mr. [John D.] Rockefeller may think he made his hundreds of millions by economy, by saving on his gas bills, but he didn’t. He managed to let [the U.S. government and] the people of the globe to work for him.”