I Never Promised You a Rose Garden or a Loan Mod!
“NEW Theme Song for The “Making Home Affordable Program”
Herbert Allison
Buried in the March 25th 2010 testimony given to the, House Committee on Oversight and Government Reform, by Mr. Herbert M. Allison Assistant Secretary for Financial Stability, U.S. Department of the Treasury, revealed the NEW SPIN for the FAILURE of the Making Home Affordable Program….
Herbie Said…“The Administration has ~~~NEVER~~~ said that the program would implement 3 to 4 million permanent modifications, which take place only after the homeowner has been offered a trial modification, has performed for at least three months in a trial modification, and has met the full documentation requirements for the permanent modification. The 1.1 million homeowners who have started modifications have had their payments reduced substantially. Even for those borrowers who do not obtain a permanent modification (for example, those who do not complete a trial modification but instead pursue a foreclosure alternative such as a short sale),……… still benefit from reduced payments during the trial phase”.
Really Herbie? The Borrower’s STILL BENEFIT from Making Trial Payments to the BANKS under the “Making Home Affordable Program” for a home loan the Banks have NO INTENTION of MODIFYING?
Herbie here are the facts…. Only 170,000 have received a Permanent Loan Modification in 14 Months! 12,142 homes a Month out of 1,100,000 applicants!
AND while THE BANKS pretend to help by collecting TRIAL PAYMENTS that RARELY end in a Permanent Loan Modification, a startling 2.8 Million families have been Foreclosed and are on the Streets in 2009! And probably MORE in 2010
The truth is….that the “Making Home Affordable Program” IS and CONTINUES to be a Voluntary Program….. RUN BY and FOR the “THE BANKS BEST INTERESTS”.
Please QUIT Insinuating that the Program is RUN by the U.S. Treasury! THE BANKS RUN THE SHOW….!
President Obama and the U.S. Treasury IMPLIED on February 18th 2009 that THIS PROGRAM would be SAVING 3 to 4 Million Homeowners from Foreclosure!
NOW You Say …. OBAMA NEVER PROMISSSED ANYTHING?
Shame on YOU and the Treasury for GIVING FALSE HOPE to MILLIONS Losing Their Homes!
Uppity Banker
Heidi Explains Derivatives?
Easily Understandable Explanation of Derivative Markets
Heidi is the proprietor of a bar in Detroit . She realizes that virtually all of her customers are unemployed alcoholics and, as such, can no longer afford to patronize her bar. To solve this problem, she comes up with new marketing plan that allows her customers to drink now, but pay later. She keeps track of the drinks consumed on a ledger (thereby granting the customers loans).
Word gets around about Heidi’s “drink now, pay later” marketing strategy and, as a result, increasing numbers of customers flood into Heidi’s bar. Soon she has the largest sales volume for any bar in Detroit .
By providing her customers’ freedom from immediate payment demands, Heidi gets no resistance when, at regular intervals, she substantially increases her prices for wine and beer, the most consumed beverages. Consequently, Heidi’s gross sales volume increases massively. A young and dynamic vice-president at the local bank recognizes that these customer debts constitute valuable future assets and increases Heidi’s borrowing limit. He sees no reason for any undue concern, since he has the debts of the unemployed alcoholics as collateral.
At the bank’s corporate headquarters, expert traders figure a way to make huge commissions, and transform these customer loans into DRINKBONDS, ALKIBONDS and PUKEBONDS. These securities are then bundled and traded on international security markets. Naive investors don’t really understand that the securities being sold to them as AAA secured bonds are really the debts of unemployed alcoholics. Nevertheless, the bond prices continuously climb, and the securities soon become the hottest-selling items for some of the nation’s leading brokerage houses.
One day, even though the bond prices are still climbing, a risk manager at the original local bank decides that the time has come to demand payment on the debts incurred by the drinkers at Heidi’s bar. He so informs Heidi.
Heidi then demands payment from her alcoholic patrons, but being unemployed alcoholics they cannot pay back their drinking debts. Since, Heidi cannot fulfill her loan obligations she is forced into bankruptcy. The bar closes and the eleven employees lose their jobs.
Overnight, DRINKBONDS, ALKIBONDS and PUKEBONDS drop in price by 90%. The collapsed bond asset value destroys the banks liquidity and prevents it from issuing new loans, thus freezing credit and economic activity in the community.
The suppliers of Heidi’s bar had granted her generous payment extensions and had invested their firms’ pension funds in the various BOND securities. They find they are now faced with having to write off her bad debt and with losing over 90% of the presumed value of the bonds. Her wine supplier also claims bankruptcy, closing the doors on a family business that had endured for three generations, her beer supplier is taken over by a competitor, who immediately closes the local plant and lays off 150 workers.
Fortunately though, the bank, the brokerage houses and their respective executives are saved and bailed out by a multi-billion dollar no-strings attached cash infusion from their cronies in Government. The funds required for this bailout are obtained by new taxes levied on employed, middle-class, non-drinkers who have never been in Heidi’s bar.
Now Do You Understand?
Uppitybanker
Originally Published at Abundanthope.net
Geithner Claims Mortgage Modifications a Success Despite House Probe
All I can say after Treasury Secretary Tim Geithner claimed the Mortgage Modification Program HAMP a SUCCESS is Thank GOD he didn’t become a Civil Engineer or a Bridge Builder!
Timmy Sez…
“Millions more Americans are facing financial security as a result of stabilizing home prices”, Treasury Secretary Tim Geithner said Sunday, even though only about 66,000 people have benefited from permanent mortgage loan modifications aimed to prevent foreclosure, a figure that has resulted in a House panel investigation.
While Timmy was handing out a STAGGERING 66,000 Permanent Loan Modifications in 2009 the Banks were recording a record 2.82 Million Home Foreclosures! It is anticipated that at least 3 million more homes will enter foreclosure in 2010. Well what on earth Constitutes Failure?
Geithner said the mortgage modification program has helped 750,000 Americans so far to lower their monthly payments substantially even though he tacitly acknowledged that many of the temporary, verbal agreements have not been made permanent.
What Timmy doesn’t tell you is that the 750,00 Americans he claims as being helped are being subjected to Continual Abuses form the Servicers, such as:
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Continual Harassment Calls from the Collection Department.
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Continuation of the Foreclosure Process.
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A (3) Three Month Trial Mortgage Payment that turns into a NEVER ENDING Trial Payment Plan.
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And there is NO GUARNTEE the Borrower ever gets a Permanent Modification!
“This program is providing very, very substantial cash flow relief right now to more than 750,000 Americans. And we believe we’re still on a path to be able to reach many, many more American households. And of course, we’re going to make sure that those temporary modifications translate into permanent modifications,” he told ABC’s “This Week.”
750,000 is a BIG Number….But Somebody Please tell Timmy that 3.5 Million Households that are in Foreclosure are NOT getting HELP!
“We’re absolutely committed to make sure that translates into what we said it would, which is for eligible Americans, they’re getting permanent modifications that substantially lower their monthly payment,” he added.
That’s GREAT Timmy that YOU are Committed….. The problem is the Banks aren’t COMMITTED! Their ACTIONS Prove they are COMMITTED only to Foreclosure!.
But Geithner said the temporary deals have translated into “hundreds and hundreds of dollars every month” in real benefits to struggling homeowners, and claimed the program has resulted in stopping house prices from “falling off the cliff” they were tumbling down a year ago.
“People thought house prices might fall another 20 percent, 30 percent. And we’ve had six months now of early signs of stability in house prices. So what that means is, millions and millions of Americans, middle-class families across the country, are now seeing more stability in what is a basic source of financial security for all Americans.
Those programs were enormously effective in helping, again, pull a housing market that was in near collapse back to the point now where you’re seeing the signs of stability,” he said.
Timmy Claims the HAMP program stopped a Housing Meltdown? Really? In actuality the housing markets downfall has been stalled due to lack of inventory as lenders forestall foreclosure on many homes in fear of glutting the market. There is a substantial SHADOW MARKET of FORECLOSED HOMES that haven’t hit the market yet. Beware of proclaiming victory too soon.
Geithner added that the administration’s efforts to stabilize the big banks — many who participated in taking big risks on housing loans — have brought America back from the brink of collapse.
Timmy…Giving the BANKS Trillions in TARP Money has helped ONLY the Banks! You paid off or covered your friends risky Mortgage Derivative bets. The little guy received nothing to save their homes!
“This was like nothing anybody in public office today, or in the last few decades, have ever faced. It was the gravest, most dangerous moment since the Great Depression of the United States. Again, remember, we had a — we were in a situation where people were no longer sure they could safely keep their money in the strongest American banks. It was catastrophic.
“And we were very, very effective — because of the leadership of the president — moving very quickly with enormous care and force to bring stability. And those policies have got this economy growing again. And as I said, we’ve been able to put out this financial fire at much, much lower cost than anybody anticipated.”
Before you proclaim some miracle Soft Landing of the Housing Market and Economy sparked by the leadership of Barack Obama you might want to talk to someone other than one of your staff or administration about how wonderful things are going…
In Conclusion I’m simply afraid to ask Timmy Geithner WHAT in the HELL does he think a failure is….
Uppitybanker
full article from…http://www.foxnews.com/politics/2010/02/07/geithner-claims-mortgage-modifications-success-despite-house-probe/
Chairman Towns Opens Investigation into Treasury’s Mortgage Modification Efforts
Just for Perspective purposes this is the SAME CONGRESSMAN and the SAME CONGRESSIONAL COMMITTEE that couldn’t FIND FRAUD in the actions of Countrywide giving Senator Chris Dodd head of the Senate Finace Committee, any special treatment by giving him TWO OWNER OCCUPIED LOANS at the SAME TIME that saved the Senator Thousands in Loan fees! Everything WAS completely ABOVE BOARD…. Wink 
~ but why digress?
and we continue the Show….
For immediate release: Saturday, February 6, 2010
Contact: Oversight and Government Reform Press Office, 202-225-5051
Chairman Towns Opens Investigation into Treasury’s Mortgage Modification Efforts
WASHINGTON – Chairman Edolphus “Ed” Towns (D-NY) is taking steps to ensure success of the Federal government’s efforts to mitigate home foreclosure. The Committee is investigating the Treasury Department’s (Treasury) Making Home Affordable (MHA) program after receiving concerning information about the effectiveness and efficiency of MHA and the extent to which it has assisted struggling homeowners. Chairman Towns, who represents the New York’s 10th Congressional District located in Brooklyn, New York, is a strong proponent of efforts to ease the burden on struggling homeowners.
CONCERNING Information LIKE THIS?
I would Call this ABJECT FAILURE! Courtesy of the U.S. Treasury… http://www.financialstability.gov/docs/MHA%20Public%20121009%20Final.pdf
“I am pleased that Treasury has developed a plan utilizing a variety of techniques and resources to assist struggling homeowners under the overarching banner of the Making Home Affordable program,” said Chairman Towns. “While I applaud Treasury’s efforts,numerous concerns have been brought to my attention regarding the effectiveness and efficiency of the MHA program and the extent to which it has assisted struggling homeowners.”
CONCERNS? Again we are back to the CONCERNS characterization? I have NEVER heard a homeowner characterize the FORECLOSING of their home as CONCERNING?
Aren’t WE PAST CONCERNS? How many Congressional Meetings must Congress conduct before they admit MAKING HOME AFFORDABLE IS A INSIDIOUS FAILURE? Only 66,000 Permanent Loan Modifications since March 4th 2009 VS. 2.82 Million Foreclosures is MORE than CONCERNING! IT’S A DISASTER!
A centerpiece of the MHA program is the Home Affordable Modification Program (HAMP) which commits $75 billion for the purpose of reducing mortgage payments of qualified borrowers to no more than 31 percent of their monthly income. Based on complaints, the Committee is concerned that loan servicers have been slow to modify loans, inconsistent in their application of the program and are not communicating clearly with eligible homeowners.
They left out CONCERNS over the Inept training of Ex-McDonald’s Employees answering the phones or and continual loss of faxed loan documents, or the incessent harassing calls from the collection departments while participating in an approved 3 MonthTrial Payment Program. That, by the way, IS NEVER 3 THREE MONTHS! As PROMISED….Shall I GO ON?
In a letter to Treasury Secretary Timothy Geithner, Chairman Towns asks for specific data to help the Committee in its efforts to investigate HAMP and explains the basis for his concerns and request for information about Treasury’s efforts to embrace transparency and accountability for its mortgage modification programs.
Chairman Towns wrote to Secretary Geithner, “… it is my understanding that Treasury has thus far refused to reveal in detail how it defines ‘net present value’, one of the key criteria for homeowner participation in the mortgage modification program. Moreover, if a homeowner is denied a permanent mortgage modification, the specific reasons for the denial are not revealed. Finally, Treasury has not established a process for homeowners to appeal the denial of a permanent mortgage modification.”
Here at Uppity Banker we have editorialized many times before about the inequity and insidious Proprietary NPV Formulas the Banks use to Game the System in their favor! BANKS FORMULA’S PURPOSE: How to MAKE the “MOST” MONEY off a Particular Borrower and YOU FAILED “OUR NPV FORMULA”…So We are Foreclosing!
According to the Congressional Oversight Panel, home foreclosures across the nation have increased faster than the rate of new HAMP trial modifications, by more than 2 to 1. However, the December 2009 “MHA Program Servicer Performance Report” demonstrates that certain institutions have made dismal progress in modifying loans, even though they service a large number of homeowners potentially eligible for HAMP.
NO $H!@ Sherlock….DISMAL….DISMAL? I just home SOMEDAY you and Congress get CONSERNED enough to apply a REAL SOLUTIONS!
A REAL SOLUTION would be using DU Desktop Underwriter or LP Loan Prospector Underwriting Programs to underwrite the Loan Modifications in seconds instead of MONTHS! As a Mortgage Broker with 20 years experience I could SOLVE the Problem in a Day! The Reality is that the BANKS don’t want to do Loan Modifications THEY PREFER TO FORECLOSE!
So what is a distressed Homeowner when faced with an INEPT Treasury and a INEPT Congress…. Sue the Bastards? See this California based solution offered at http://www.lenderrefund.com
Chairman Towns is expecting a response to his inquiry from the Treasury Department by February 18, 2010.
GOOD LUCK AT GETTING AN HONEST RESPONSE FROM THE TREASURY!
Uppitybanker
Insidious: adjective, (of something unpleasant or dangerous) gradually and secretly causing harm. CALLED HAMP?
The recently stolen and recovered sign overlooking the Infamous Nazi Death Camp at Auschwitz pronounced one of the most INSIDIOUS false promises in history. “Arbeit Macht Frei” which translates “Work Makes Free” or can be translated “Work Will Set You Free”. The sign was placed there by commandant Rudolf Höss. Höss believed that doing menial work during his own imprisonment under the Weimar Republic helped him through the experience. At Auschwitz, the sign was made in 1940 by Polish political prisoners headed by Jan Liwacz (camp number 1010). The upper bowl in the “B” in “ARBEIT” is wider than the lower bowl, appearing to some as upside-down. Allegedly it was made on purpose by political prisoners to make a signal what is really going on in Auschwitz.
Too bad their isn’t a CrOoked letter in the title of the Making Home Affordable loan modification letter! The letter that homeowners receive when accepted into the HAMP Trial Modification Program. Maybe they would would be fairly forewarned for WHAT they were about to experience!
The Making Homes Affordable Approval letter and plan looks as if it is coming DIRECTLY from the U.S. Treasury. It’s adorned with the OFFICIAL SEAL of the “Special Inspector General” of the “Troubled Asset Relief Program“? The Special Inspector General, Neil Barofsky has the job of auditing all of the banks that receive TARP Money. His Agency doesn’t have anything to do with APPROVING or DENYING your Loan Modification.
So WHY is the Special Inspector General of the U.S. Treasury Seal on the HAMP Loan Modification letters?
This Letter and SEAL makes it LOOK like the U.S. Treasury is running the HAMP Program…But it’s an “INSIDIOUS LIE”.The Homeowner is FALSLY led to believe that the U.S. Government is behind the Loan Modification Process. The U.S. Treasury is NOT running the loan modification process. The BANKS Are SOLELY IN CONTROL of the Loan Modification Process!
If you scroll to the bottom of the HAMP Cover page that adorns the Special Inspector Generals Seal you’ll see the label SIG/TARP Fraud Notice. Well the only Fraid here is the FALSE PROMISE of a three month loan trial modification. I can’t help but think how psychologically the homeowner looks at these official looking documents, that appear to be loan documents coming from the U.S. Treasury, and get a false sense of relief that they will be on their way to saving their home.
Like those passing under the gates at Auschwitz thinking that “IF I work hard I will be SET FREE”…. “If I Complete this Trial Loan Modification I will SAVE MY HOME!”
When you read the HAMP Modification documents carefully you see that this Trial Modification Plan IS NOT a FINAL agreement for a loan modification. But merely a Trial Modification which allows the Banks to collect mortgage payments for a 3 month period. Which gives the Homeowner the FALSE SENSE of assurance that after making the 3 Trial Payments they’ll be receiving a Permanent Loan Modification. NOTHING COULD BE FURTHER FROM THE TRUTH…The Banks have all of the cards. They collect payments for as long as they want even though they give the impression that if the client makes (3) three trial payments they will be rewarded with a permanent modification. Most modifications are on the 6 or 7 month of Trial Payments with NO Permanent modification in sight! Even if the homeowner makes ALL of the Trial payments during the trial plan on time the Bank could still determine that you don’t qualify, and foreclose.
The Facts: As of October 31 per the U.S. Treasury Department, in the Servicer Performance Report for the HAMP program there are 3,299,780 American Homeowners that are 60+ days delinquent in their mortgages and are eligible for the Making Home Affordable loan modification program, . Of those 3,299,780 eligible Homeowners only 697,026 are currently participating in the HAMP Loan Modification Program.
ONLY 31,382Homeowners since March 4th 2009 have received a Permanent Loan Modification! THIS IS NOT ENOUGH!
It’s TIME for the BANKS and the U.S. Treasury to Stop Making FALSE and INSIDIOUS Promises with respect to their efforts to Modify Homeowners in Foreclosure. We DON’T need any more Congressional Inquiries. We DON’T need anymore fancy Government Websites! We DON’T need anymore Phoney Official Seals on NON-BINDING Agreements! Just Modify the LOANS NOW…Before Millions lose HOPE and Lose their homes!
Uppitybanker
Anybody Home? Going to the TOP to SAVE DOC’S Home!
The Following is a Letter I sent to Mr. Herbert Allison Jr., Asst Treasury Secretary, herbert.allison@do.treas.gov
Dear Mr. Herbert Allison Jr., Asst Treasury Secretary,I watched your testimony on CSPAN yesterday in front of the House Financial Services Committee. I was very intrigued to learn that you are pushing for transparency of the Super Secret NPV Formula by the first Quarter of 2010. Unfortunately that will be a bit too late to help save Doc “M’s” home! His home is scheduled for Foreclosure on January 4th, 2010.
I have over 20 years in Mortgage Banking and have spent a considerable about of time this last year helping my old clients with the loan modification application process to save their homes. I believe I understand the HAMP process and qualification criteria well. I have been sucessful with 4 Hamp trials started and 1 permanent loan modification done. The following story is about my only failure.
I’m writing you in hopes that you can help a man who truly deserves a loan modification. Doc “M” is a 73 year old retired, disabled Naval Doctor who worked at the VA Hospital in San Diego up until he became ill in November 2008. Because of his illness he was unable to work any longer at the VA. He therefore was let go by the VA and now receives Disability from Social Security and has an income from an investment in a small restaurant started in April 2009. I believe he makes enough income to qualify for the HAMP program. He has a true hardship after losing his job due to illness. And he is disabled.
We applied to Littion Loan Servicing who is servicing the loan for Deutsche Bank in May 2009 and we were turned down October 28th, due to failure of their Proprietary NPV Formula. I believe these Secret Formulas are a backdoor for the Banks to deny a loan modification. Depending upon whats in the formula they can be designed to FAIL!
I have gone through several channels to reverse what I perceive to be a travesty upon a deserving disabled veteran. I have been in touch with Ms Jennifer Stockett of the Treasury Dept, jennifer.stockett@do.treas.gov who oversees the Hamp Program. She was helpful but only confirmed what I already knew, that Doc was turned down because he failed the NPV Formula. After that we traveled to a HUD Non-Profit event in Pine Valley to seek assistance. But they also know the NPV Formula is formidable.
I believe the Formula was mis-applied. Of Course I really don’t know WHAT they used for Income or WHAT Time frame they used for the cash flows! And I don’t believe they ever did an appraisal of the property until after the denial. So how can they evaluate their options without an accurate appraisal? It’s their Formula and their word alone that HAS NO TRANSPARENCY to CHALLENGE! Never the less, a man who has served his country should NOT be put on the street because of a Secret Formula.
Doc “M” deserves a Loan Modification. I hope you can help.
Uppitybanker
Mr.Potter Would Be Proud!
Update to Saving Doc’s Home: Litton Loan Servicing has POSTPONED the FORECLOSURE of Doc’s Home for 30 DAYS! Mr Potter in the famous Christmas movie “It’s a Wonderful Life” wanted to own ALL of the property in Bedford Falls. But George Bailey, played by Jimmy Stewart, doesn’t allow Potter to Win. He saves Bedford Falls from Potter’s Bank with the help of his small Building and Loan. Nice tearful story, but in real life the Banks rarely lose and in the case of saving Doc’s Home they have WON!
They were kind enough to postpone the Foreclosure through Christmas. Just to allow him to SELL his home. HOW NICE OF THEM!
Litton Loan Servicing and Deutsche Bank have refused to allow Doc to modify his home loan because he FAILED their SUPER SECRET NPV FORMULA! So they will Foreclose in January if Doc can’t sell his home . Apparently owning a $250,000 home is extremely important to them.
Litton Loan Servicing and Deutsche Bank would make Mr. Potter Proud!
Uppitybanker
U.S. Treasury Threatens Banks with SHAME and EMBARASSMENT!…;-)~
Geez What a Surprise…The White House and the Treasury Department are Aghast that more loan modifications aren’t being made!
And NOW before ALL is lost and millions more lose their homes, the Obama administration has decided to threaten the Lenders with EMBARASSMENT and SHAME! According to Michael S. Barr, Treasury’s assistant secretary for financial institutions. Read the complete story by Peter S. Goodman of the New Your Times.
“Some of the firms ought to be EMBARASSED, and they will be.”
And Mr.Barr went even further…
“The government would try to use SHAME as a corrective, publicly naming those institutions that move too slowly to permanently lower mortgage payments”
OMG the dreaded EMBARASSMENT WEAPON! Followed up with SHAME….
Didn’t know it was that easy? Just point your SHAKING FINGER at the Banks and they will wither IN SHAME!…. begging you to let them go so they can do more Loan Modifications.
The Only Embarassment should be on an Administration that believed that a VOLUNTARY PROGRAM would be Instituted by the Servicer’s and Banks!
The reality of the Loan Modification process, as pointed out before on this Blog, in my August 24th article “Banks Find Foreclosure More Efficient Than A Loan Modification” is that the BANKS DON’T WANT OR INTEND TO DO LOAN MOFIFICATIONS!
Fannie Mae and Freddie Mac can approve a loan in seconds with their Desktop Underwriter and Loan Prospector Super Computer Programs. SO WHY CAN’T the Banks use the same programs to approve Loan Modifications in Seconds? Answer: The Banks make more Money dragging their feet!
Uppitybanker
Saving Doc’s Home Update….
Saturday Doc and I traveled 50 miles to Pine Valley, Ca., to a Free Home Clinic put on by Community Housing Works of San Diego. Akin to the story of a drowning man will grab at anything theory.
I didn’t realize just how bad Doc’s walking disability was until we had to walk more than 10 yards at a time. The 100 yards we walked from where I parked the car took almost 20 minutes! But I couldn’t get any closer to the Gym at Mountain Empire High School, where the event was held.
We arrived promptly 10 am only to find they didn’t have any acknowledgement of the appointment I had made earlier in the week. NOT A SURPRISE with this whole loan modification process! So we waited 3 hours before we could see a counselor. During our wait we were subjected to endless presentations concerning short sales and the process of loan modifications. Most of the 30 to 40 in the audience had no clue what the presenters were talking about. It was as if they were listening to the process of execution just before the actual act. They all had a sullen hollowed eye look of uncertainty.
Doc couldn’t walk any further than the registration desk so they allowed him to wait at the registration desk resting his head on the table. He is so exhausted from the process. He is resigned to the fact that he is about to lose his home. I’m NOT ready to give up. I keep thinking that someone will look at this situation rationally. It’s sad that nobody at Litton Loan Servicing or Deutsche Bank will examine his particular situation as if HE MATTERED! It ALL comes down to bottom line numbers in the Foreclosure decisions of the Banks. The fact that he is a disabled Veteran is NOT entered in the NET PRESENT VALUE equasion. There is absolutely NO compassion in this Foreclosure Crisis!
The counseling session turned out, unfortunately, just as I had thought with NO possible way to fight the Banks Foreclosure Decision when they had made their decision based on their proprietary mathematical NPV algorithm that favored the Banks position. THE NPV FORMULA is the Banks back door when they prefer a Foreclosure to happen. It’s like playing chess with two sets of rules. Theirs and yours, with their rules having precedent!
Even though we were defeated on Saturday we fight on! I hope the YouTube Video describing Doc’s Story will get out to enough folks in the next week to cause an such an UPROAR at Litton or Duetsche Bank so that a HUMAN there will awaken to help Doc!
Uppitybanker
