Dear America,

Please to create a petition

A compilation of signatures built in order to exert moral authority in support of a specific cause in the subject matter listed in the "solutions" section in this document

Dear America,


  1. The banks are not modifying the home loans within the best interest of the America, they are modifying the loans within the best interest of the banks and there investors who they had promised they would make millions of dollars of the working poor of America.

2. A house that cost say $70,000 15 years ago to build ends up selling for $350,000 in California, and by time the banks add there high interest rates using FICO scores to grossly over charge the poor and minority, and if the buyer ever finish paying for the $350,000 house grossly over charged, the buyer would have paid close to a million dollars in fees, penalty, and high interest rates all encouraged by the banks and investors.

3. When you look at the picture and  the people who would encourage a $70,000 house to sell for $350,000,it's the banks,and SECURITIZATION  MORTGAGE FRAUD, there investors, escrow agents,real-estate agents,insurance agency s, property taxes, and everybody on the receiving end against the home buyer who doesn’t want to sell the house for profit.

4. In my neighborhood several houses had been foreclosed on and sitting vacant for over a year. It seems like it would have been better for the banks to work out something affordable and keep the buyers in the homes because loans are harder to achieve and the banks cant resell the homes
for the greedy $400,000 like they were doing in the past. These homes are down closer to it's true value $150,000 max and should remain at that price, because (1) those homes made from dry wall and 2 by 4  wood. (2) those homes were not made from solid concrete blocks and steel. (3) the total price in material for one of those dry wall house is about $35,000 at Home Depot. Builders like K.B. Homes get these material for allot less because they buy in bulk. (4) If these prices are not regulated and allowed to return to a  greedy $400,000 it will reproduce the same result " a broken economy and fore-closers  of homes"


5. The home modification process left up to the bank to make the modification has turned into a next scam by the banks.The modification process does not need to be so complicated the first basis for the modification should be the true value of the property.

6.Why? Because the banks and  SECURITIZATION  MORTGAGE FRAUD and their greedy investors premeditated and caused this economic and housing crisis and artificial value within the housing market so when the economy crashes they can get bailed out at the tax payers expense  and reposes the property. 

7. A Full disclose of what the buyer is paying with current system buyer don't realize how much they are paying $542,827.85 for a house built 20 years ago that cost $70,000 is unfair. Check out " Payment Summary" how much money the bank are milking from the poor in interest "$192,827.85" with that amount of interest the banks are squeezing out the poor. You can buy a second house for $192,827.85
the banks should only make $30,000 in interest. say $10,000 per $100,000 max.
Loan Summary
Principal:     $350000
Interest Rate:     4.75%
Loan Term:     20 years
  
Payment Summary
Number of Payments:     240
Monthly Payment:     $2,261.78
Total Principal Paid:     $350,000.00
Total Interest Paid:     $192,827.85
Total Paid:     $542,827.85


8 Forced the banks to lower payments to the true property value.Cost to build x 10% MAX.

9. Set a cap on the max markup after cost to build the home.Example if the home cost say $100,000 to build the max the banks or anyone who would finance the home can make would be say 10%. $10,000 profit max. on $100,000 loan.

10.Why? This would stabilize the housing market and bring back steady growth to the economy and reduced the national deficit.

11. Retroactively convert  all home loans to the 50% interest 50% principle.

12. Why? Because the banks premeditated interest only loans for home buyers so if there’s any foreclosure the banks gets to walk away with all the money the home buyer paid for years leaving home buyer with nothing. If 50% interest and 50% principle was applied to all loans the banks would not be so quick to foreclose because they would have to give the home buyer back money. The banks figured out a way how to make their money off the top  with SECURITIZATION  MORTGAGE FRAUD whyle the national deficit keeps rising out of control.

 13.Something is fundamentally wrong when A few pieces of drywall wood and nails that is nicely decorated with stucco to give the look of a break building start to carry a sticker price of $350,000, these homes a few years ago was priced closer to its true value $80,000 to $100,000 that could have been paid off in less years and was affordable and would allow teachers, firefighters, police man and women,civil workers,mom and pop the backbone of America a chance to own a home.

14.What started the problem?


After the Federal Government told the banks to grant these loans without down payments the banks and Wall Street  SECURITIZATION  MORTGAGE FRAUD and greed caused a $80.000 house to sell for $350.000 because, there was no laws that set the limit on what the max markup on the house sale could be. i.e. Georgia Ave. and Kennedy Street NW Washington DC 20011 cost $70,000 to build from drywall the max on that house should be say, $10,000 profit max. on $100,000 loan this would have worked if these home prices were governed by law.

15.Landlords and real-estate investors did not like that idea of buying a home for the same amount of money you pay in rent with no down payment  and when the banks saw that Freddie Mac and Fannie Mae would back those loans the homes that was $80,000, start carrying a sticker price of $350,000 and if the buyer ever finish paying for the home the buyer would have paid about $800,000 for the $80,000 house because there’s not a maximum limits on the markup what the banks and investors can make.

16.Now that the homes start coming back down closer to its true value it’s totally unfair for the banks not to reduce the payments and principal to the true  property value all because the bank had promised there investors and every one on the receiving end they were going to make huge profits of the back of The American People. Here are  these company-s  who don’t want the  false value of a $80,000 house selling for $350,000 to reduce and is trying to squeeze the money from the home buyers."it's the  banks,and there investors, escrow agents,real-estate agents,insurance agency s and everybody on the receiving end" against the home buyer who doesn’t want to sell the house for profit.

17.What this all adds up to?

The banks  SECURITIZATION  MORTGAGE FRAUD and their greedy investors don’t want us to own our homes, they have designed a system that they stay in control of the stock and permanently own the stock by using interest only loans, hoping that the buyer defaults on loans so the bank can repossess the homes and resell them again and again making their money off the top while the national deficit rise out of control.

18. After people finish paying for their $80,000 home the banks invented home equity loans, hoping that the buyer would default so the banks end-up back with property.

19. Over charged legal fees to the home buyer during foreclosures to keep the home buyer further behind in payments.

20."Banking Discrimination" using low FICO scores to charge the poor and minority higher interest rates than what the state allows.The banks claim "low FICO scores is more of a risk". This makes no sense the banks doubles the risk to the FDIC the tax payer by charging higher interest rates because off low FICO scores. FICO scores is a system used to give wealthy people the lowest interest rates because they have HGH FICO SCORES.

21.Only the poor and minority pays overdraft fees, late fees,  that is then charged off and sold to outside companies like collection agency’s this is how the banks make their money off the top while the national deficit keeps rising out of control.

22. Banks who received bailout money at the tax-payer's expense should be forced to forgive say 80% off the loan because they are the source of the problem making a $80,000 house built 20 years ago sell for $400,000 because  SECURITIZATION  MORTGAGE FRAUD and they would sell the loans over-nite knowing that the homes wont hole the false value the banks manufactured.

The Solution

23. Break up the monopoly with any bank that owns more than say 25% of the market.

24.Abolish interest only loans of all kinds and convert all loans retroactively to a simple interest loan"50% to interest and 50% to principal" because interest only loans allows the bank to collect their money off the top while the national debt not been paid down.

25 Stop the banks from breaking the law by charging more than maximum legal interest rate, the banks figured out a way how to make up to 200% on a house that only really value $80,000 illegally.

26.Mandate that the banks automatically adjust the loan payments based on the fair property value without carrying the home owner through a process where the banks can say no to the loan modification. The banks should not have the option to "say no" to the loan modification because they are at the core of the problem "by wanting to sell something that only  value $80,000 for $350,000" and promising there investors worldwide that they would make millions of the working Americans while keeping the country in debt.

27. Set a cap on what a property can sell for i.e.  a house that cost say $70,000 to build, no one can charge more than say 10 % of the cost to build. $10,000 profit max on $100,000 loan. These houses were built from drywall and these houses don't value the money the banks and there greedy investors wants because of SECURITIZATION  MORTGAGE FRAUD .

28.Set a cap on neighborhoods house price based on the resident’s annual income.

i.e. Georgia Ave. and Kennedy street NW Washington DC 20011 this is where the poor lives with an income of about $40.000 or less annually but homes in those areas cost way more than what those residents can afford to buy, i.e. the bus drivers,school teachers,civil servants,mom and pop, the backbone of The USA all squeezed out of the housing market by the banks and there investors because homes in those neighborhoods that cost say $50,000 to build 20 years ago was selling  for  a greedy unfair $350,000 until the greed start distorting  America. These house prices should be set based on the income of the residents and not out of proportion to the residents’ income because this turns the American dream in a nightmare and hinders the prosperity of America.

29.During a recession the banks, investors, people with deep pockets loves recessions because they can now buy-up  the poor people’s sorrow for pennies on the dollar that’s why we don’t want to modify loans.

30.When the country is in a recession the banks should be forced to work with its customers and suspend all foreclosures until the country is out of the recession and things return to normal because a recession is defined as not enough money on the street to go around in every ones pocket. A recession is like the gas shortage in the 1970's not enough gas for all the cars on the street.

31.Abolish FICO score practices that allow banks to charge higher interest rates because of low FICO scores increasing the risk resulting in the possibility that the borrower may default on financial obligations to the mortgage lender.

32.Make the banks and others who manufactured this  SECURITIZATION  MORTGAGE FRAUD  to overcharg  home buyer re appraise the value based on If the house cost, say $100,000 to build between $40-$200 per square foot... cap the markup at say 10%, $10,000 profit max on $100,000 loan,put a cap so home builders and Banks so they can’t jack up the cost per square foot to build.

33. The banks are commenting economic terrorism on America by keeping America in debt the banks is causing more economic damage than 911 with  SECURITIZATION  MORTGAGE FRAUD  .


Principal:     $350000
Interest Rate:     4.75%
Loan Term:     20 years
  
Payment Summary
Number of Payments:     240
Monthly Payment:     $2,261.78
Total Principal Paid:     $350,000.00
Total Interest Paid:     $192,827.85
Total Paid:     $542,827.85

  
All home loans should be  50% to interest and 50% to principal retroactively.  The banks are making almost the same amount of money "$192,827.85" as the Total Principal Paid "$350,000.00"   SECURITIZATION  MORTGAGE FRAUD is one of the reasons why a $80.000 build 20 years ago ends up costing a greedy $542,827.85 that eventually brought the USA to it's knees while keeping the people in depth.

 Any way you look at this,there is some thing is wrong when a $80.000 house build 20 years ago from dry wall ends up costing a greedy $542,827.85 when building materials prices has doped. These houses a few  years ago were $80.000 and should have remained at that price.  

Reminder of The Motives

Here are  these company-s who encouraged this  SECURITIZATION  MORTGAGE FRAUD overcharging and don’t want the  false value of a $80,000 house selling for $542,827.85 to reduce and is trying to squeeze the money from the home buyers.

"it's the  banks who created  SECURITIZATION  MORTGAGE FRAUD and  had promised  there investors, escrow agents,real-estate agents,insurance agency s and everybody on the receiving end the would make billions of the working poor.

What's  the only company who has no interest to make a $80,000 house sell for $542,827.85 ???
It's the home buyer who doesn’t want to sell the house for profit.