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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (291291)	11/14/2010 2:24:31 AM
From: Skeeter Bug	Read Replies (1) \| Respond to of 306849

HAMP was designed to INCREASE foreclosures, not reduce them. i know, one of my coworkers is now facing foreclosure since he went into HAMP and he wouldn't be here if he never did HAMP. the reason is that the banks have insurance policies on these homes defaulting and they want to get paid. here is the scam... 1. tell people to default so they can qualify for HAMP. 2. tell them they qualify for HAMP and set them on a 3 month trial of reduced payments. 3. hope the mark doesn't realize this is a complete scam and doesn't save the money they are saving on the HAMP program. 4. at the end of three months tell the homeowner they don't qualify for HAMP and they now owe the missed payment, the difference in back payments and a hefty late fee on top of it. 5. pray they can't pay it so the banks can foreclose on the $300k home and collect the $1.2 million in CDSes they had on the mortgage. god bless america's banking coup detat.

To: Les H who wrote (291291)	11/14/2010 6:14:38 PM
From: Les H	Read Replies (1) \| Respond to of 306849

In the beginning of 2010, when the Euro reached its low point against major currencies, importers looks at the lower pricing on good from the EuroZone (due to the currency weakness) as an opportunity to buy goods at a markdown. This resulted in the Euro Purchasing Managers Index (PMI) seeing a nice increase. Even more astonishing was the boost that Germany experienced in the most recent quarter’s exports, just as austerity measures were beginning to kick-in throughout the Euro region. Over the past two months, the Euro has appreciated markedly. At the same time, economic reports are showing that a slowdown is rather evident as we enter the fourth and final quarter of 2010. The latest data points indicate that GDP for the region may only reach 0.2 percent on a quarterly basis for the fourth quarter. Combine that with a low level of industrial orders and we are set for some very strong headwinds for the region. Consider that Ireland is now on the brink of failure and Portugal may not be that much further behind. Already there are murmurs circulating that a bailout of the Irish debt is forthcoming and a restructuring will not be necessary. We shall see…. thedisciplinedinvestor.com