Foreclosure Process - How Does Foreclosure Work

Ernie Fitzpatrick asked:


What self-respecting Republican would ever have believed that the President of their party would be a socialist? And how many of those Republican who have been voting for bailout after bailout would have believed they’d be doing so if you asked them ten years ago- five years ago? Would you believe a year ago? If things keep going as they are, we the taxpayers, the government will own everything. At last, we have a new god- the U.S. government. All hail to the Treasury Secretary! 

We are pursuing an insane course of bailout after bailout.

The latest excuse by George Bush for bailing out Citigroup went like this, “If need be, we’re going to make these kind of decisions to safeguard our financial system in the future,” Bush said. “I talked to President-elect Obama about the decision we made. I told the American people, and I’ve told the president-elect when I first met him, that any time we were to make a big decision during this transition, he will be informed, as will his team.” How nice!

But, just how long do we think the world is going to keep buying US$’s in the form of buying our Treasury bills and notes which are becoming more and more worthless each day? A day of reckoning is coming.

And we’ve just gotten started in this new “bail me out” paradigm. Bush warned there could be more bailouts to come, and said that on his flight back from an international economic summit in Peru on Sunday, he had talked with Paulson about “the decisions made to safeguard” Citigroup Inc. We must save AIG, Freddie Mac, Fannie Mae, Morgan Stanley, Citigroup, General Motors, ad infinitum, ad nauseum.

And the sheep lined up to go to the Stock market slaughter. Stocks surged Monday in a broad rally as Citigroup’s massive rescue package and President-elect Obama’s picks for his economic team pushed investors off the sidelines. The Dow Jones industrial average (INDU) gained 397 points, or 4.9%, after having been up 552 points earlier in the afternoon. The Standard & Poor’s 500 (SPX) index rose 6.4% and the Nasdaq composite (COMP) gained 6.3%. The biggest two-day gain since 1987. Is this a great nation to make money in or what?

While the real estate crash is still alive and well, the auto crash is coming along side. In yet another bad sign for the auto industry, car loan delinquencies rose again in the third quarter, putting up to $22.9 billion at risk for banks, finance companies and automakers who dole out loans directly to consumers.

All of these bailouts are but bankrupt bailouts sooner or later because no government can just print money and guarantee BAD loans, BAD business, and BAD polices without the house of cards crashing sooner than later.

DaVida Edwards asked:


When will banks start lending again?

Several sources have said that the year-to-date job losses are 760,000. Do you have a plan to supplement your income?

I realized that my corporation was in serious trouble when the Small Business Administration didn’t have any money to lend; moreover, the top level executives didn’t even know when they would have anymore capital to loan to businesses large, medium, or small.

Truly, this marks a clear downshift in the economy and people who had jobs are now being forced to look for a new job in a starving market. There was a net loss of 159,000 jobs in September and you guessed it– this is the ninth straight month the U.S. economy has lost jobs. I never thought I would have to update my resume for any other reason than to include it in my business plan.

We now have a $700 billion bailout plan that was signed into law but there’s no near future end in sight. The question remains, “Will it prompt banks to lend and help the economy get out of the red?” I understand that life without the bailout bill would be much worse, but what is going to happen with this bill and when?

Even thought the rescue plan has passed and financial experts insist that government action is better than the alternative—most would say, “I need a US Treasury bill with at least five zeros in each corner, front and back, in my pocket today!” That’s what 304.5 million in 2008 American population would call a bailout. It’s also wishful thinking.

Like so many other Americans I turned to the internet to find a source that would bail me out. My frustration is a result of what I should have expected in the first place. Even the scammers need a bailout. They are scrupulous and devious while feeding you a crock of crap in pursuit of making a farce sale.

6 TIPS WHILE IN SEARCH OF A BAILOUT (A JOB)



Stay far away from websites that ask you to pay them an upfront fee for work at home jobs. Don’t believe the hype! Any business that is interested in hiring will not ask you for money. They will only pay you for your services.

While searching for a telecommute position, update your resume to reflect your work-at-home capabilities and cater it to employers who hire home workers. Do you have a computer, internet access, fax machine, additional land lines, software, etc.? Put those capabilities into your resume and cover letter. I could write a book about the resume and cover letter subjects but for now I’ll stick to the topic. Think of your resume as your sales letter and use your cover letter to close the deal. Using a standard cover letter that looks like you just picked a business out of the phone book and decided to ask them for a job is too generic. Using a standard text cover letter can also be a waste of time. Do the research, make the calls and focus on the company you can see yourself working for. Then write your cover letter to reflect why you would be uniquely qualified to do the job.

Never send your resume to anyone who lists a job without any contact information. Don’t even bother to click on a link. People who own legitimate businesses and pay for advertising will be more than happy to brag about an available position and seize the opportunity to advertise by publishing their name and contact information as well.

Proofread then have someone else read and proof read your resume and cover letter for you. Do not send an email, fax, attachment, or copy and paste until you do.

Be careful with Craigslist. You may wind up with an inbox full of spam. Once again no contact information usually means ulterior motives.

Don’t wait until you’ve been scammed to realize it. Try a free work at home job. I found a couple that don’t involve telemarketing, customer service, or call centers. Feel free to visit my blog for more information. I began to wonder if there is just one honest soul on the Internet. Finally I came across my bailout and its working. The best part is I don’t need your resume and I don’t need to sell you anything because the training materials are free.



Amazingly, the bill that was passed by legislatives won’t bailout the economy tomorrow or next week or even next month. Frozen credit markets are still icebergs, but that doesn’t give scammers a free pass to scam on…and…on…and…on!

Unfortunately, it remains to be seen as to how long it will take to jumpstart our miserably ailing economy. In the meantime you can use the free strategies to supplement your income. I know what it’s like to be in the market for a job unexpectedly. Here’s the free work at home jobs blog address: http://blognpost.blogspot.com



 

Ernie Fitzpatrick asked:


Where is it in teh Constitution that it says the role of the Federal government is to bail out business? And when we begin that process and enter the black hole, how low, how deep can we go anyway? At what point does the one who does the bailing out, need bailing out? Is that even a possibility? We have entered unchartered waters and I’m sure we’re going to encounter some “unintended consequences”. 

Now that Congress has approved the $700 billion bailout, Paulson isn’t going to use the funds for what we were told they would be used for. We’re not taking all those toxic mortgages off the market. The first thing we’ve done is GIVE $125 BILLON to the banks. Bankers nee bonuses this Chrismas you know.

Treasury Secretary Henry Paulson said Wednesday that original plan to purchase distressed mortgage assets from Wall Street firms is not the best use of the $700 billion financial rescue package, and officials will now focus on direct capital injections into the struggling financial firms.

Can he do that? 

Paulson said that nonbank financial institutions, including companies that deal with credit cards, auto loans and student loans, may be eligible for direct capital injections. Companies such as American Express, which is one of the country’s largest credit card companies, is reportedly seeking $3.5 billion in fresh capital from the government. Hey can I get just one milion? I can probably make it on just a half million if things are tight.

The US government could be entering a bottomless pit of bailouts if it starts propping up failing companies outside the financial sector—including the struggling auto industry, economists say. Many economists are against the idea, saying an auto maker bailout would open the door to a taxpayer rescue of virtually any major company with cash problems. As though we haven’t already entered those turbulent waters.

“Where do you stop?” says Bill Isaac, former chairman of the Federal Deposit Insurance Corp and now managing director at the LECG global consulting firm in Vienna, Va. “Circuit City’s going down. Do we help them? What do you do if Starbucks gets in trouble? Do you help them?” Now you’re making this PERSONAL! Hell yes we save Starbucks! 

NOT!