mmm-Are we finally getting there-but theres more to come believe me.

[Tawnyowl]

This was my last post on the Detroit Times-Docd20 and Thrasher i am sorry i am taking so long to reply i am typing away with a bust computer with a onscreen keyboard with one key.But i hope Docd20 to maybe soften perhaps your cool calculated view of things.And thrasher maybe just maybe change your view of the tent city protests and the promoters.This is taking up much of my thoughts now the suffering,and need some sleep,but i will return shortly.and may say thankyou for responding to my original posts.Tawnyowl.I am just wanting a end to the tent citys and subprime bank caused pain around the world.Letters dont seem to work.

[Crapstone]

?????????????????

Not another one.

[Tawnyowl]

Same old computer,Capstone,be strong,ive read about your battles with mortgage etc,carry on taking it to them,Tawnyowl.

[Tawnyowl]

Just playing song before getting back to Detroit times and try to weaken Doc and Thrashers stance,mmm

[Tawnyowl]

It maybe boring some of you i dont know but this was my reply to Doc d20.Thrasher later.

Caveat Emptor: There is an underlying debate about whether a lender should be allowed to charge whatever it wants for a service, even if it seems to make no attempts at deceiving the consumer about the price. At issue here is the belief that lending is a commodity and that the lending community has an almost fiduciary duty to advise the borrower that funds can be obtained more cheaply. Also at issue are certain financial products which appear to be profitable only due to adverse selection or a lack of knowledge on the part of the customers relative to the lenders. For example, some people allege that credit insurance would not be profitable to lending companies if only those customers who had the right "fit" for the product actually bought it (i.e., only those customers who were not able to get the generally cheaper term life insurance)All communitys were targeted-example - More Proof Blacks Are Losing the Most Homes We’ve known the foreclosure crisis is hitting blacks and Latinos hardest for a while, but the Pew Hispanic Center further substantiates the point in a report released this week. The report summarizes a bunch of new housing data, but here’s the most important stat: Blacks lost more homes between 2004 and 2007 than any other racial group. According to a February Federal Reserve update, which Pew summarizes, black home ownership rates dropped by nearly three percentage points, to 47.5 percent. This is an important stat for a bunch of reasons. First, mortgage industry defenders have repeatedly asserted that the wave of subprime and other exotic loans that flowed over black neighborhoods did plenty of good, too. It drove up the black home ownership rate to an historic high of nearly 50 percent (alongside a rapid increase in home ownership across the racial spectrum). As we now see, however, that gain was illusory. It was based upon predatory, unsustainable loans. Worse, as I’ve reported, the massive strip mining of equity from longtime black homeowners means many, many families will come out of this much worse off than they started. Second, home ownership is the most crucial element of middle-class wealth in America—and the black/white gap remains astounding. Overall, 69 percent of Americans were homeowners at the end of 2007, and 75 percent of white Americans. But fewer than half of blacks and just 53 percent of Latinos owned homes. Subprime brokers preyed upon this disparity—which was created through generations of publicly financed discrimination in the lending market—and gave everyone the impression that housing equality was on its way. Well, it wasn’t. Ultimately, the public sector will have to take meaningful action to erase the home ownership gap it helped create, or it won’t be long before another [problem] comes along to prey upon black and brown folks again.They were targeted by- -predatory lenders. Over the last several years, our nation has made enormous progress in expanding access to capital for previously under served borrowers. Despite this progress, however, too many families are suffering today because of a growing incidence of abusive practices in a segment of the mortgage lending market. Predatory mortgage lending practices strip borrowers of home equity and threaten families with foreclosure, destabilizing the very communities that are beginning to enjoy the fruits of our nation’s economic success. If you believe you have been a victim of predatory lending practices there are Federal agencies that can help. Please refer to the list of agencies below and contact the organization or agency that you think can help address your specific problem. Protect yourself from predatory lenders: For information about loan fraud and advice about preventing it, see Don't Be A Victim of Loan Fraud. Local information on predatory lending: Here are some Local Resources by state, that can help you avoid being a victim of predatory lending. For FHA loans: For problems relating to origination, underwriting, or appraisals of FHA loans, contact the FHA Resource Center. Avoiding foreclosure on an FHA loan: Visit the HUD National Servicing Center web page and have your FHA case number at hand. You will find your case number on the mortgage settlement statement. Non-FHA mortgage loans: For complaints concerning practices which include disclosure of interest rates and finance charges (APR), prepayment penalties, credit life insurance, fraud, deception, etc. contact the appropriate agency from this list to complain about the mortgage lender or mortgage broker. Lender threatening to foreclose or mortgage in default: HUD funds housing counseling agencies throughout the country. To find a housing counseling agency near you, call toll-free (800) 569-4287 immediately for free guidance or visit the web page. Settlement Procedures: (FHA and non-FHA mortgages). Visit the RESPA web page for information on RESPA disclosure requirements such as the Good Faith Estimate, HUD-1 and escrow account statements, and how to file a complaint with your lender concerning the servicing of your loan. If you are still unsure who can best help you, please let us know. File a housing discrimination complaint: Discrimination in mortgage lending is prohibited by the federal Fair Housing Act and HUD's Office of Fair Housing and Equal Opportunity actively enforces those provisions of the law. Learn how the Fair Housing Act can help you fight predatory lending. Please maybe have feeling for your fellow man women children who are suffering in this way.Go perhaps to the tent city protest if not in person in spirit and imagine you could be there.Out of protest may come a solution that benefits everyone and lead to the end of tent citys,the poor and weak ones in society.Do you really think everyone understands the mortgage contract,terms and conditions.Many investigating bodies struggle.Perhaps you yourself have had a hard life(i hope not).You are obviously well educated perhaps you could use some of that brainpower to come up with some ideas.I feel you care.Who wouldnt.May i now say i dont intend to stress distress or offend anyone in any way.Just in case someone wants to know about the subprimers---http://en.wikipedia.org/wiki/Subprime_mortgage_crisis -Bye for now-Tawnyowl.

[Tawnyowl]

Just thought i would do a quick update as sometimes people may come on and wonder whats going on.Well i got sick of writing letters and getting nowhere so down the line a bit i suggested a protest.At the time i was reading a story about Detroit written by Mick Brown of the Telegraph magazine..Well i started looking at Detroit more closely and saw the tent citys there and across America then i stumbled across a protest being planned in Detroit against foreclosures the homeless and other matters.Trying to find answers and ideas that perhaps mixed with ours could lead to something.Dreaming perhaps--mmm-you never know.So i am keeping a eye on things and posting here and in Detroit.A few links may help explain.Tawnys visiting daughter,grandkids tommorow so wont be around.Heres the links-http://www.youtube.com/watch?v=jaBLyTPNeVs

Moratorium NOW! Coalition to Stop Foreclosures and Evictions in Michigan

Metro Times - News+Views: In tent city Bye for now Tawnyowl.

[Tawnyowl]

Before writing tommorow on the Detroit protest where auto workers and welfare groups have allready started pitching tents next to the heads of American business, convention i thought maybe its time to lighten up things a little before the serious stuff starts,Perhaps some of us, perhaps many of us can relate to it-fit the words to our currency etc-Tawnyowl.

[Tawnyowl]

Just sent this message,theres about a 5 hour time difference.It begins-I hope you all enjoyed your rally last night.The speech by the Senator and the welfare groups.Will be watching for news of the mass demonstration tonight and the discussions and debates that hopefully will lead soon to the answer we are all looking for,a end to foreclosures repossessions,end of tent citys and help for the poor.Tawnyowl

[Tawnyowl]

Just in case someones interested more soon,could it happen here,is it happening here,any similarities.WWJ Newsradio 950 - Jerry Goldberg 06/15

[Tawnyowl]

Certainly gets you thinking.How much is your house really worth.Not a subprime inflated price.Not a commission -high price more commission,broker -agent..A true valuation.I speak to many people on fixed rate subprime about to end,dreading it and sick with worry knowing deep down they wont manage it.What would you do,what are you going to do, if your house is now worth 40k less than your fixed rate ending soon predatory subprime loan.Where the company is charging you all sorts of charges.And maybe youve got 30 years for them to keep taking money off you.Is there a midprime crisis coming.Just a thought,Tawnyowl going to get updates from Detroit.Houses arent cashcows any more,the subprimers have gone and left you in the xxxx.Want to return the favour.What do you think of this idea.http://www.treas.gov/initiatives/eesa/homeowner-affordability-plan/HousingExampleSheet.pdf

[Tawnyowl]

In all the turmoil over the world ,repossessions foreclosures,bankruptcys,tent citys,people living on the streets,the poor there are another group that are being affected by the reccession,PETS.I talked to a vet today from the PDSA - Home Page who said we can hardly keep up with the demand caused by the downturn.These are sad stressfull times for many.

[Tawnyowl]

After morning speeches and discussions,people marched down Woodward to where the titans of industry and finance had gathered to figure a way out of this mess that they, and those like them, are largely responible for getting us into.

Housing foreclosures. Job losses. Cuts in benefits. A pair of wars. These were all issues signs carried by the protesters drew attention to.

As fired-up speakers stood on the sidewalk outside the RenCen and shouted through a bullhorn at bigwigs who couldn't hear them, with a line of cops making sure the executives weren't interrupted, we thought how the scene symbolized the way insiders gather to make policy while the masses remain on the outside, left only to bear the consequences.

Among those on the outside was Gwen Gaines, 57, who works part time providing care to a woman suffering from lung cancer. She also puts in time with the Michigan Welfare Rights Organization where, she says, "The phones ring all day long."

Another camper was Larry Holmes, 56, a community organizer from New York City. He talked about Detroit and how people around the country should start paying attention.

"In a lot of cities, things are bad, but not as bad as Detroit," he observes. "But they could be." That about sums things up.Tawnyowl.

[Tawnyowl]

I will later on put a few photos of the protest kindly sent to me by Don Jones of Detroit.Sometimes i wonder where this thread is going but it needs to run its course.I will post with news from America and other places connected to subprime,predatory lending,mortgage related articles and ways people are coping.As the above post mentions(we thought how the scene symbolized the way insiders gather to make policy while the masses remain on the outside, left only to bear the consequences.)a statement that raises one or two thoughts.Tawnyowl.

[Tawnyowl]

Will put the photos on tonight.I am searching everywhere for information and ideas and hope for the subprime crisis ,that has caused trouble for so many.What i am finding is,well i have taken a day away from it,will post soon.Treat this thread as a break between your battles with your lenders,which must be tiring for you.And listen to these two tunes before this thread moves from Detroit to another state.Maybe you will agree with some of the words.Tawny will check how Detroit is doing often.

[Tawnyowl]

How can a city go from this Internet Archive: Free Download: Detroit: City on the Move to this in 44years

and mmm-make your own mind up.Choose any of the following.

YouTube - Charlie LeDuff interviews Detroit's Monica Conyers mm-retribution coming-im now switching states.Tawnyowl.

[Tawnyowl]

As i am so interested in subprime,end of fixed rate ,dreading it,banks buying and setting up set ups here,even after America had the signs of trouble,2007 or roundabouts.I feel like urixxxing from my top flat window,hoping it hits a banker or two before running down to the bank getting some of their terms and conditions and putting them to better use(scratch).Whether you are with SPML ,the best place for them is the pacific(bottom of it)Kensington,back to their owners (South Africa)preferably placed in a river full of crocs.Crapstone,sorry Capstone and all the others.So many people targeted by these predatory lenders,in America all races and creeds,as here.Strange way of saying it but many of us were struggling in a desert,half a mile away was a oasis.A stranger offered us a drink.Gratefully we accepted it not knowing that the water was contaminated and would make us ill.Many of us were like that couple struggling but probably would have reached that oasis without that strangers contaminated product.They targeted us at our weakest and offered us contamination.I look around the world and see many people who were in that desert.Struggling but may have reached that oasis unaided.Sorry for going on but as i look closer i see ruthless organisations who targeted people in many nations,the deeper i delve the clearer it becomes.Like i have said before this is a strange thread,read it between your battles with them.Tommorow,a new State that surprised me.Good night from what some of you may think a strange old owl.Tawnyowl off to roost.

[Pab10]

Subbing with interest.

[Tawnyowl]

Hello,i find it very emotional and tiring at times going to places,albeit by the web and come across many sad and humbling things as i do. As i venture trying to find all the facts and peoples stories and experiences of the subprime crisis that has swept the world.Its really heartbreaking and makes you look into yourself when you read certain things.Its people that matter,people helping people.The politicians i feel have lost the plot for the time being and are looking ragged and tired.How can they possibly concentrate on things that really matter to the ordinary man and women in the country.I was going to go to Sacramento to write about the situation there but something stopped me,i dont know why but i ended up in Orange County.What i found there surprised me,the posts will follow but one story stopped me in my tracks unrelated to the subprime crisis and will now post,i feel no words need to be said,i will start the other story tommorow,Tawnyowlhttp://www.ocregister.com/articles/colby-newport-vigil-2470112-pixar-ramm

[Tawnyowl]

Vigil recalls girl whose dying wish was to see 'Up' | colby, newport, vigil, pixar, ramm - Entertainment - OCRegister.com

[Tawnyowl]

This is where i am-http://en.wikipedia.org/wiki/Orange_County,_California and im sure this next article will interest some.More to come Tawnyowl-http://www.ocregister.com/business/how-subprime-lending-1950724-all-started

[Tawnyowl]

Orange County, California - Wikipedia, the free encyclopedia Sorry this is where i am .Testing.

[Tawnyowl]

How it all started in O.C. | subprime, beach, mortgage, long, securities - Money - OCRegister.com and this may interest some of you.Tawnyowl,

[Tawnyowl]

Right time to get down to the nitty gritty,the subprime,bank bailouts,tent citys,of Orange County I will put a song or two every now and again to lighten things.But listen to this first,how is anyone anywhere going to sort things out.

[Tawnyowl]

The Great Depression in OC: Are the hard times back? | bank, depression, recession, county, food - Business - OCRegister.com Thought a few of you may enjoy this,perhaps while having a break in your battles with subprimers etc,play the films and root about.Its a very nice day there temps in 80s.Business - Great Depression in O.C. - The Orange County Register and maybe while reading,

YouTube - Beach Boys - I Get Around good evening back tommorow with more posts on subprime news,Tawnyowl,eccentric perhaps but still fighting as you are.

[Tawnyowl]

Tawnyowls reading many things and mmm- wondering many things,not liking many of them.Industrial employment ravaged by neoliberal "free trade" and corporate outsourcing;

 

-- replacing factories as the economy's engine;

 

-- declining wages in the face of soaring expenses;

 

-- most families dependent on credit to survive;

 

-- the calamitous effects of banking deregulation;

 

-- a corrupted "symbiotic financial-industrial complex" called "financialization;http://en.wikipedia.org/wiki/Financialization

 

-- a new Gilded Age exalting greed;

 

-- turning consumers into debt slaves; and

 

-- making the country "perilously dependent" on foreign capital sources for economic security.

 

 

 

-- sinking markets from a "full-blown credit/debt crisis;"

 

-- "waves of layoffs," bankruptcies and repossessions

 

-- distorted media coverage on causes and solutions;

 

-- fear that the worst is ahead;

 

-- the infectious effect of the spreading "subprime crisis;"

 

-- millions of pounds being lost;

 

-- millions of homeowners at risk; millions of working people also;The threat of depression. Alerting people to the possibility. Highlighting concern about the victims. Challenging the media and chastising their ignoring and distorting the story. Telling us that "democracy must have an economic underpinning and a commitment to fairness." Offering ways to achieve it. Explain how debt restructured the economy and created "a burden that many will never crawl out of." Exposing "shameless profiteers" and calling for an investigation of their crimes and prosecution. "Urging people to get involved and (demand) politicians respond." Getting upset and aroused enough to act.Tawnyowls not a activist-(yet)

 

"It's the Economy Stupid," and, of course, it always is but especially when times are hard. What Senator Chris Dodd calls "a 50-state Katrina," but these waters are rising and uncertainty remains on whether something far more calamitous is coming.

 

Corruption is pervasive. The public uneasy but largely uninformed. The worst of what's going on is hidden. A vast shady network of "interconnected institutions working through highly legalized and poorly understood systems." Moving unimaginable sums around the world in seconds. Seducing people into the most outrageous schemes involving unrepayable debt. Then having to borrow more to service amounts already unaffordable. Heading for what money manager Jeremy Grantham calls a "slow motion trainwreck"- the inevitability that bubbles always burst. His advice in the current environment. What he calls the "first truly global bubble:" hunker down and "take as little risk as possible" because "I for one am officially scared."Back to Orange County soon Tawnyowl.

Edited June 27, 2009 by tawnyowl