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Why Banks want to Foreclose on your Home rather than Modify your Loan

Why Banks want to Foreclose on your Home rather than Modify your Loan

 

By Brie Hoffman of Hub Pages

“If the American people ever allow private banks
to control the issue of their money,
first by inflation and then by deflation,
the banks and corporations that will
grow up around them (around the banks),
will deprive the people of their property
until their children will wake up homeless
on the continent their fathers conquered.” Thomas Jefferson

The reason why so many people are facing foreclosure is because the Lenders IE the Banks WANT YOUR HOME not your mortgage. However, this is not to say that they aren’t willing to make money in the short term by selling your worthless mortgage to investors willing to pay for it and then buying assets like gold, assets that are real!

The reason why they want your home and not your mortgage is because your home and the land it sits on is a real asset while your mortgage is JUST A PIECE of paper with a promise on it! I know that this might seem simplistic but the majority of Americans and maybe the whole world doesn’t understand what is going on in America right now. What we are seeing right now is a raping of America by the Banks. These banks set up fraudulent loans also known as Liars Loans, no doc loans and sub-prime loans that will reset at an enormous rate. They lend out money THAT THEY DON’T HAVE to people who may or may not be able to afford them. The higher the mortgage the more money they make upfront.  The reason that they did this is so that they can rake in the loan fees (in the beginning), sell the loans to foreign investors and then after getting all that money, gather money through interest, steal money through the fraudulent bail out schemes, make money when you default on the home through insurance  and then TAKE YOUR HOME in foreclosure, which is the only real asset in the first place. They win on several fronts.

Most Americans do not understand that the banks do not have the money that they loan to you in the first place. We have what is called a fractional reserve system. This system allows banks to obtain money from the Federal Reserve or from other Loans and then to lend that money out while only holding 10% of it in the bank. By the time they lend that money out over and over again it becomes literally non-existent. Moreover, the Federal Reserve is now trying to even lower that number further.

What we need is for the public to become more economically literate. No one knows about this worldwide Ponzi scheme and because it’s so little known they are getting away with it. Please take the time to watch the movies I have added at the bottom of this posting and tell your friends. With knowledge comes freedom. It’s not too late, yet….

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