Forclosure Kryptonite - THREE SIMPLE WORDS stop foreclosures for now

[tomm2thumbs]

Run time: 05:06 https://www.youtube.com/watch?v=fx7YkiH79nw   Posted on YouTube: February 24, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: February 25, 2009 By DU Member: tomm2thumbs Views on DU: 1725

 
I know there have been some articles on DU about this, but this video helps cut through the madness - and for folks up late at night who are looking for a little light at the end of that dark tunnel, sometimes a quick video will help more than anything. For more detailed information, search "Produce the Note" on YouTube - and see what is giving some folks at least a temporary lease on life while reorganizing their lives.

[20score]

1. Great!

Good information.

[progdonkey]

2. you might want to edit your subject line... ;-)

I know you're just giving the subject of the video with the "three simple words," but right now it looks like you're saying "three simple words: 'stop foreclosures for now.'" (Three?) :P

Very interesting video, though!

[Grinchie]

3. Knowing that the White House lost 5 million Emails makes this a good tactic

Remember that the bubble happened just after the Dot Com bust, and that several hundred thousand Software Engineers lost their jobs to the IT Outsourcing firms overseas.

Hate to say it, but they may be able to write code, but they have a hard time spelling and understanding design documents.

Produce the note is simply telling the bank, "Hey, I have to keep my receits for 7 years for the IRS, which costs me money, You better be able to do it as well."

Another fact that makes "Produce the Note" such a great tactic, is that the Banks, ever since they used 9/11 to ramrod Check 21 legislation into law, have been trying as hard as they can to get away from handwritten checks, and have removed your ability to write a check with a knowledge that it would take a few days to clear in the system. They did away with this, and people that relied on the float found themselves walloped with instant late fee's, while the banks get to use your money for up to 10 working days, while they wait for your check to "Clear".

They also used some guys check scanning technology in violation of his patent, and now owe him millions of dollars. Their answer to this? Change the patent laws to favor the banks.

No my pretties, you will behave like everyone else is expected to behave. "Produce the Note". This is delicious.

[webDude]

4. Chris Hoyers' link w/FREE docs and how-to instructions to file...

... to have them "produce the note" :
FREE docs and instructions: http://www.consumerwarningnetwork.com/2008/06/19/produce-the-note-how-to/

[onlyadream]

5. I'm glad to see a loop hole that helps the little guy for a change!

I don't understand why the banks won't work with these people! They're neighborhoods that have rows of forclosed houses and a large population of homeless people. It's sickening. There's the house, there's the family that NEEDS the house, but NO. It makes no sense.

Show me the note! Awesome!

[SteelPenguin]

6. They couldn't pick a better person to interview?

I'm sorry, there are people out there who are honest hardworking people who did nothing wrong and are in trouble....but the woman at 2:30 of the video...She purchased her home for 39k and then when the property values spiked refinanced for 145k. ie the bank loaned her over $100,000. She bought a very modestly priced home, and decided to cash in while the getting was good, and now that she lost her job she's up in arms about losing it...

There were plenty of predatory lenders, and people who were honestly caught up in this, but I have no sympathy for this woman or other people who exploited the system and now don't want to pay the risks tied to their rewards. I know that we have to do something or it'll bring us all down...doesn't mean it's gonna leave a good taste in my mouth.

That said it's an interesting video with the 'produce a note' thing.

[Danascot]

7. FYI, Some good info at this previous DU thread

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x5124080