A Man’s Word Is His Bond – Personal Honor & Politics

“A man’s word is his bond. Tell the truth….Never go back on your word.”  http://www.christianethicstoday.com/Issue/022/A%20Man’s%20Word%20is%20His%20Bond%20By%20Hal%20Haralson_022_3_.htm

“A man’s word is his bond”.  http://www.gillieslumber.com/

“A place where a man’s word is his bond. There are those who would feign honor and never know its meaning

“If you firmly believe in the Brotherhood of Man under the Fatherhood of God, and that any man who believes in one God has the inherent right and freedom to worship his creator in a manner in which he chooses. If you believe that a man’s word is his bond. If you believe there is no greater honor than being a good man, husband, father and citizen”

” a man’s word is his bond, a handshake is a contract,”

“Where we come from a man’s word is his bond. To make sure that we deliver exactly what we promise”

Truth, honesty, and personal integrity are foundations …  A man’s word is his bond” http://briarfieldassociation.org/

“In Montana, a man’s word is his bond.”

“My grandfather taught me at an early age that a man’s word is his bond, if you go back on your word you will never be trusted and no one will do business with you.”

“the English and American Bills of Rights, and such Common Law principles as trial by jury, presumption of innocence, “a man’s home is his castle”, and “a man’s word is his bond … ”

“beginning with the Law of Contract, based on the principle that a man’s word is his bond.” http://www.stjamesschools.co.uk/seniorboys/school-life.php?page=departments&subsection=Law

“Politics was a matter of personal honor. A man’s word is his bond.” “We’re all human, and we can all be misled. When leaders don’t level with citizens, we can’t expect them to make good judgments”.Vice President Joe Biden – http://en.wikiquote.org/wiki/Joe_Biden

. Finns place a great value on speaking plainly and openly.
. What someone says is accepted at face value and this is a culture where “a man’s word is his bond” and will be treated as seriously as a written contract, so verbal commitments are considered agreements.
. Finns are direct communicators. Expect your colleagues to tell you what they think rather than what you want to hear.
. Professional differences are not viewed as personal attacks.                                    
http://www.kwintessential.co.uk/resources/global-etiquette/finland-country-profile.html

Obama’s Top Five Broken Promises

Promise #5: Sunlight Before Signing
What he said:
“Too often bills are rushed through Congress and to the president before the public has the opportunity to review them. As president, I will not sign any non-emergency bill without giving the American public an opportunity to review and comment on the White House website for five days.” (BarackObama.com campaign Web site)
What he did:
Obama signed the Lily Ledbetter bill, the SCHIP/cigarette tax hike, and the stimulus bill all with far less than a five-day waiting period that he promised–and continues to promise–on his campaign Web site.
Promise #4: Lobbyist Revolving Door
What he said:

“No political appointees in an Obama-Biden administration will be permitted to work on regulations or contracts directly and substantially related to their prior employer for two years. And no political appointee will be able to lobby the executive branch after leaving government service during the remainder of the administration.” (BarackObama.com campaign Web site)Phil Kerpen is director of policy for Americans for Prosperity.

What he did:

Obama appointed Goldman Sachs lobbyists Mark Patterson chief of staff at the Treasury Department, where he directly oversees his former employer, a recipient of $10 billion of taxpayer funds from the TARP. Obama also appointed Raytheon lobbyist William Lynn to be an undersecretary of Defense.

Promise #3: No Tax Hikes on the Poor

What he said first:

“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.” (September 12, 2008, Dover, N.H.)

What he did first:

By signing H.R. 2 into law, Obama happily signed onto the idea that smokers should pay for a $35 billion expansion of the State Children’s Health Insurance Plan (SCHIP). Cigarette taxes are going up 61 cents a pack starting April 1. Obama signed this bill knowing that the majority of smokers in the United States are working poor, and one in four lives below the federal poverty line.

What he said next:

“If your family earns less than $250,000 a year, you will not see your taxes increased a single dime. I repeat: not one single dime.” (February 24th, 2009, Address to a Joint Session of Congress)

What he did next:

Ignored the already-hiked cigarette tax at the time of the statement and then this restated promise was broken just two days later, when the Obama’s budget proposal was released. His new budget raises 45 percent of its revenue from energy taxes that will be paid by everyone who fills a gas tank, pays an electric bill, or buys anything that was grown, shipped, or manufactured.

Promise #2: Pork Barrel Earmark Reform

What he said:

“The system is broken. We can no longer accept a process that doles out earmarks based on a member of Congress’ seniority, rather than the merit of the project. We can no longer accept an earmarks process that has become so complicated to navigate that a municipality or non-profit group has to hire high-priced D.C. lobbyists to do it. And we can no longer accept an earmarks process in which many of the projects being funded fail to address the real needs of our country.”

(Statement on Earmarks, March 10, 2008)

What he is expected to do:

The White House has signaled that it intends to sign the $410 billion Omnibus Appropriations bill, which according to Taxpayers for Common Sense, contains 8,570 earmarks totaling $7.7 billion, including dozens of wasteful pork-barrel projects. These earmarks were awarded based on seniority, not on merit, and were mostly the result of high-priced lobbying, precisely the process that Obama promised to end. When the omnibus reaches his desk later this week or next week, we’ll find out if this is one more broken promise.

Promise #1: Big Government

OK, so this one is more of a statement than a promise, but it’s the biggest whopper of all.

What he said:

“Not because I believe in bigger government — I don’t.” (February 24, 2009, Joint Address to Congress)

What he did:

Obama proposed a budget that is breathtaking in scope, a blueprint for the biggest permanent expansion of government in history right on the heels of a sweeping trillion dollar stimulus plan. The budget lays the foundation for a government takeover of the health care and energy sectors and dramatically increasing spending across the board, other than defense weapons programs. Spending as a percentage of the economy under this budget will reach the historic level of 27.7 percent this year. The deficit as a percent of the economy, at 12.3 percent, is set to be the biggest in the entire history of the country outside of the four peak years of World War II. Anyone who offers such a budget can only fairly be described as a believer in bigger government. 

http://foxforum.blogs.foxnews.com/2009/03/03/kerpen_obama_budget/

McAuley’s World – An individual’s legacy is not determined by accomplishment or failure. An individual’s legacy is forever tied to the content of one’s character. An individual’s words do not determine one’s legacy, no matter how artfully the words are delivered. A legacy is determined by the faithfulness with which one’s word is kept, no matter how inartfully it may have been delivered.  

AIG Bailout – The Secret Partners – Where The Taxpayer Money Is Going

A top official tells Congress he opposes unmasking the Wall Street firms that have pocketed tens of billions of dollars in taxpayer bailout funds.

A list obtained by Fortune includes the names of many foreign banks – as well as U.S. giants such as Goldman Sachs.

NEW YORK (Fortune) — Donald Kohn, vice chairman of the Federal Reserve, learned this week about blackmail, Senate style, when he refused to disclose the names of financial institutions benefiting from the bailout of American International Group.

Testifying about AIG (AIG, Fortune 500) before the Senate Banking committee, Kohn respectfully resisted all of its attempts to extract the names. Several committee members grew frustrated and finally got to the point of threatening Kohn with no more dollars for the credit crisis – ever – if he didn’t spill the information.

Said Sen. Jim Bunning, R-Ky., “You will get the biggest ‘no’ you ever got. I will do anything possible to stop you from wasting the taxpayers’ money on a lost cause.”

While the government has maintained that saving AIG was necessary to prevent an even wider catastrophe, Senators contend the move has also bailed out counterparties who took unwise risks, so the legislators want to know who those companies are.

The information that riled the Senate committee this week concerns about $80 billion of credit default swapscontracts that insure investors against losing principal and interest – that AIG wrote on super-senior tranches of collateralized debt obligations (CDOs) that were backed by mortgage securities, some of them subprime. [70% of mortgage defaults in the US involve subprime loans – to be accurate the author should have said – 30% were not subprime] 

When AIG suffered rating downgrades, the resulting collateral calls on the credit default swaps proved ultimately to be much more than AIG could handle and became the main reason the company was bailed out [the main reason the company went under – AIG could not pay the “insurance losses” on bad mortgages]- with government commitments that now exceed $150 billion.

The counterparties to the swaps were 25 financial institutions spread around the world. Many of them would have been vulnerable to a domino effect if they hadn’t received, first, the collateral AIG paid them and, later, billions of dollars from the U.S. government that made the counterparties whole. [The full list of “Counterparties” is not known – as all names have not been released. Billions of American Taxpayer Dollars paid to make foreign Banks whole and reimburse bad bets on risky subprime mortgages]

In this whole disaster that began to play out last September, neither AIG nor the government has ever divulged the names of the counterparties – and that’s what infuriates Bunning and other senators. [The following list is not exhaustive – a complete list of the beneficiaries has not been released – contact Congress and demand that a complete list be made public! How many Politicians in Washington were “made whole” with taxpayer dollars? http://www.usa.gov/Contact/Elected.shtml ,  Demand that a full list of names be released – financial institutions, hedge funds & holding companies]
 FORTUNE LIST  (Foreign Companies Highlighted in red)

Fed wants to keep AIG secrets

Committee chairman Christopher Dodd, D-Conn., describes the counterparties as less than “innocent victims” who used AIG’s rating (then AAA) to take “enormous, irresponsible risks.” He complains, “It is not clear who we are rescuing.” [Senator Dodd needs to step up and take responsibility – he has headed this Committee the last two years – isn’t it his job to know where this money is going?]

The Fed’s Kohn argued that he couldn’t give out the names because the counterparties had entered into contracts with AIG not expecting their identity ever to be disclosed. Naming them, he said, might deter them from doing business with AIG again. [Assuming, of course, that AIG survives. At present AIG is liquidating it’s profitable businesses] 

In the end, however, Kohn said he would carry the committee’s request back to the Fed and see what might be worked out. 

A reliable source, however, has given FORTUNE a list of 15 counterparties, with no dollar figures attached. The list contained the names in the following order. FORTUNE sought comment from all of the financial institutions and none said their inclusion on the list was inaccurate.

 

Société Générale (France)

Goldman Sachs (GS, Fortune 500)

Merrill Lynch International

Deutsche Bank (Germany)

Calyon, Crédit Agricole (France)

UBS (Switzerland)

Barclays (England)

Coral Purchasing, DZ Bank (Germany)

Bank of Montreal (Canada)

Rabobank (the Netherlands)

Royal Bank of Scotland

Bank of America

Wachovia

HSBC (England)

Barclays Global Investors

[McAuley’s World: It appears that Billions of American Taxpayer dollars have been spent on bailing out foreign banks who took foolish risks investing in subprime loans]. 

http://money.cnn.com/2009/03/07/news/companies/aig.fortune/index.htm

NEW YORK (Fortune) — Officials shouldn’t reveal which Wall Street firms pocketed billions of dollars in the government’s bailout of AIG, a top Federal Reserve official said.

The comment was met with incredulity by senators who said the government must do a better job explaining how its actions over the past six months have benefited all Americans, and not simply troubled big companies and their trading partners. AIG has received more than $150 billion in federal aid since its brush with bankruptcy last fall.Sen. Bob Corker, R-Tenn., asked why policymakers didn’t simply guarantee that the government would stand behind AIG’s obligations, without producing any upfront cash

Kohn insisted that the Fed didn’t have the authority to do so, a claim Corker said he found “simply incredible.”

http://money.cnn.com/2009/03/05/news/fed.transparency.fortune/index.htm?postversion=2009030512

Top U.S., European Banks Got $50 Billion in AIG Aid

The names of all of AIG’s derivative counterparties and the money they have received from taxpayers still isn’t known, but The Wall Street Journal has identified some of them and is publishing others here for the first time.

Values of some of those assets are declining, forcing AIG to also post collateral against those positions. And if the portfolios incur losses, AIG will have to compensate the banks. [or, in the alternative AIG could declare bankruptcy like any previous insolvent insurer]

  • Goldman Sachs
  • Deutsche Bank
  • Merrill Lynch
  • Société Générale
  • Calyon
  • Barclays
  • Rabobank
  • Danske
  • HSBC
  • Royal Bank of Scotland
  • Banco Santander
  • Morgan Stanley
  • Wachovia
  • Bank of America
  • Lloyds Banking Group
  • [This list is not exhaustive – a complete list of the beneficiaries has not been released – contact Congress and demand that a complete list be made public! How many Politicians in Washington were “made whole” with taxpayer dollars? http://www.usa.gov/Contact/Elected.shtml  A complete list of names, financial institutions, hedge funds and holding companies should be made public – transparency now!]

    Other problems are popping up for AIG. The insurer generated a sizable business helping European banks lower the amount of regulatory capital required to cushion against losses on pools of assets such as mortgages and corporate debt. It did this by writing swaps that effectively insured those assets.   http://online.wsj.com/article/SB123638394500958141.html

     AIG had seen this business as a relatively safe bet for the company and its investors. [“Safe” ? AIG was only “off” by $180 Billion – close enough for Government work, right? ]

    The structures were designed to allow European banks to shuck aside high capital costs. A change in capital rules has meant that the AIG protection no longer meets regulatory requirements.

    The concern has been that if AIG defaulted, banks that made use of the insurer’s business to reduce their regulatory capital, most of which were headquartered in Europe, would have been forced to bring $300 billion of assets back onto their balance sheets, according to a Merrill report. [Yes, that means American Taxpayer Dollars are being used to prop up European Banks – a European Bank Bailout at American Taxpayer Expense]

    AIG’s Secret Bailout Partners – AIG Bailout Funds Funneled To Secret Partners – Partial List Of Cash Recipients Released

    A list obtained by Fortune includes the names of many foreign banks – as well as U.S. giants such as Goldman Sachs.

    NEW YORK (Fortune) — Donald Kohn, vice chairman of the Federal Reserve, learned this week about blackmail, Senate style, when he refused to disclose the names of financial institutions benefiting from the bailout of American International Group.

    Testifying about AIG (AIG, Fortune 500) before the Senate Banking committee, Kohn respectfully resisted all of its attempts to extract the names. Several committee members grew frustrated and finally got to the point of threatening Kohn with no more dollars for the credit crisis – ever – if he didn’t spill the information.

    Said Sen. Jim Bunning, R-Ky., “You will get the biggest ‘no’ you ever got. I will do anything possible to stop you from wasting the taxpayers’ money on a lost cause.”

    While the government has maintained that saving AIG was necessary to prevent an even wider catastrophe, Senators contend the move has also bailed out counterparties who took unwise risks, so the legislators want to know who those companies are.

    The information that riled the Senate committee this week concerns about $80 billion of credit default swapscontracts that insure investors against losing principal and interest – that AIG wrote on super-senior tranches of collateralized debt obligations (CDOs) that were backed by mortgage securities, some of them subprime. [70% of mortgage defaults in the US involve subprime loans – to be accurate the author should have said – 30% were not subprime] 

    When AIG suffered rating downgrades, the resulting collateral calls on the credit default swaps proved ultimately to be much more than AIG could handle and became the main reason the company was bailed out [the main reason the company went under – AIG could not pay the “insurance losses” on bad mortgages]- with government commitments that now exceed $150 billion.

    The counterparties to the swaps were 25 financial institutions spread around the world. Many of them would have been vulnerable to a domino effect if they hadn’t received, first, the collateral AIG paid them and, later, billions of dollars from the U.S. government that made the counterparties whole. [The full list of “Counterparties” is not known – as all names have not been released. Billions of American Taxpayer Dollars paid to make foreign Banks whole and reimburse bad bets on risky subprime mortgages]

    In this whole disaster that began to play out last September, neither AIG nor the government has ever divulged the names of the counterparties – and that’s what infuriates Bunning and other senators. [The following list is not exhaustive – a complete list of the beneficiaries has not been released – contact Congress and demand that a complete list be made public! How many Politicians in Washington were “made whole” with taxpayer dollars? http://www.usa.gov/Contact/Elected.shtml ,  Demand that a full list of names be released – financial institutions, hedge funds & holding companies]

    Fed wants to keep AIG secrets

    Committee chairman Christopher Dodd, D-Conn., describes the counterparties as less than “innocent victims” who used AIG’s rating (then AAA) to take “enormous, irresponsible risks.” He complains, “It is not clear who we are rescuing.” [Senator Dodd needs to step up and take responsibility – he has headed this Committee the last two years – isn’t it his job to know where this money is going?]

    The Fed’s Kohn argued that he couldn’t give out the names because the counterparties had entered into contracts with AIG not expecting their identity ever to be disclosed. Naming them, he said, might deter them from doing business with AIG again. [Assuming of course that AIG survives. At present AIG is liquidating it’s profitable businesses] 

     

    In the end, however, Kohn said he would carry the committee’s request back to the Fed and see what might be worked out. 

    A reliable source, however, has given FORTUNE a list of 15 counterparties, with no dollar figures attached. The list contained the names in the following order. FORTUNE sought comment from all of the financial institutions and none said their inclusion on the list was inaccurate.

    FORTUNE LIST  (Foreign Companies Highlighted in red)

     

    Société Générale (France)
    Goldman Sachs (GS, Fortune 500)

    Merrill Lynch International

    Deutsche Bank (Germany)

    Calyon, Crédit Agricole (France)

    UBS (Switzerland)

    Barclays (England)

    Coral Purchasing, DZ Bank (Germany)

    Bank of Montreal (Canada)

    Rabobank (the Netherlands)

    Royal Bank of Scotland

    Bank of America

    Wachovia

    HSBC (England)

    Barclays Global Investors

    [McAuley’s World: It appears that Billions of American Taxpayer dollars have been spent on bailing out foreign banks who took foolish risks investing in subprime loans]. 

    http://money.cnn.com/2009/03/07/news/companies/aig.fortune/index.htm

     

    NEW YORK (Fortune) — Officials shouldn’t reveal which Wall Street firms pocketed billions of dollars in the government’s bailout of AIG, a top Federal Reserve official said.
    The comment was met with incredulity by senators who said the government must do a better job explaining how its actions over the past six months have benefited all Americans, and not simply troubled big companies and their trading partners. AIG has received more than $150 billion in federal aid since its brush with bankruptcy last fall.Sen. Bob Corker, R-Tenn., asked why policymakers didn’t simply guarantee that the government would stand behind AIG’s obligations, without producing any upfront cash.

    Kohn insisted that the Fed didn’t have the authority to do so, a claim Corker said he found “simply incredible.”

    http://money.cnn.com/2009/03/05/news/fed.transparency.fortune/index.htm?postversion=2009030512

    Top U.S., European Banks Got $50 Billion in AIG Aid

    The names of all of AIG’s derivative counterparties and the money they have received from taxpayers still isn’t known, but The Wall Street Journal has identified some of them and is publishing others here for the first time.

  • Goldman Sachs
  • Deutsche Bank
  • Merrill Lynch
  • Société Générale
  • Calyon
  • Barclays
  • Rabobank
  • Danske
  • HSBC
  • Royal Bank of Scotland
  • Banco Santander
  • Morgan Stanley
  • Wachovia
  • Bank of America
  • Lloyds Banking Group
  • [This list is not exhaustive – a complete list of the beneficiaries has not been released – contact Congress and demand that a complete list be made public! How many Politicians in Washington were “made whole” with taxpayer dollars? http://www.usa.gov/Contact/Elected.shtml  A complete list of names, financial institutions, hedge funds and holding companies should be made public]

    Other problems are popping up for AIG. The insurer generated a sizable business helping European banks lower the amount of regulatory capital required to cushion against losses on pools of assets such as mortgages and corporate debt. It did this by writing swaps that effectively insured those assetshttp://online.wsj.com/article/SB123638394500958141.html

    Values of some of those assets are declining, forcing AIG to also post collateral against those positions. And if the portfolios incur losses, AIG will have to compensate the banks. [or, in the alternative AIG could declare bankruptcy like any previous insolvent insurer]

    AIG had seen this business as a relatively safe bet for the company and its investors. [“Safe” – AIG was only “off” by $180 Billion – close enough for Government work, right? ]The structures were designed to allow European banks to shuck aside high capital costs. A change in capital rules has meant that the AIG protection no longer meets regulatory requirements.

    The concern has been that if AIG defaulted, banks that made use of the insurer’s business to reduce their regulatory capital, most of which were headquartered in Europe, would have been forced to bring $300 billion of assets back onto their balance sheets, according to a Merrill report. [Yes, that means American Taxpayer Dollars are being used to prop up the European Banks]

    A top official tells Congress he opposes unmasking the Wall Street firms that have pocketed tens of billions of dollars in taxpayer bailout funds.

    Subprime Mortgages – Get One Today – Qualify For A “Cram Down” & “Mortgage Modification” Before Labor Day

    If you thought you missed your chance to scam your friends and neighbors with a sub-prime mortgage loan – you know a loan you can’t afford for that bigger house you always wanted – your wrong.

    Live the champagne life on a beer budget and let your neighbors pick up the tab.

    Visit any of the cites below and get your sub-prime loan now ….. you still have time to default and get your the mortgage “crammed” down and “modified” before summer. Use the extra cash to buy a new car and boat ………. 

    100% Financing Loans

    More and more Americans are choosing to pay for their home with a 100% financing mortgage, also known as a no down payment or a zero-down mortgage loan.  This type of home mortgage frees borrowers from the worry and burden of having to gather and set aside funds for closing costs and a down payment in order to purchase a home. 

    100% financing, or complete financing of the property via a first mortgage exclusively

    ….. we offer bad credit mortgage loans, which service consumers with scarred credit histories and “incapacitating financial circumstances”.

    • No cash is required for down payment
    • Stocks and other investments need not be liquidated to purchase the property
    • Private mortgage insurance is not required (unlike a conventional loan)
    • The greater the amount financed, the higher the tax deduction for the loan interest paid
    • The opportunity to use and/or start earning equity in the new home, instead of having it tied up
    • The ability to have their money earn interest in a money market fund or savings account
    • Diminution of their financial risk and risk-shifting to the lender [The lender shifts the burden to the taxpayer via a bailout]
    • Qualify for a bigger mortgage

    Borrowers must decide whether to apply for an adjustable rate mortgage (ARM) or a fixed rate mortgage.  Eligibility requirements for the former are easier to satisfy, and an ARM offers lower mortgage rates.  [McAuley’s World – Wow, you can get an ARM and blame the lender later] 

    Compare Mortgage Loan Rates:   

     

  • 100 Percent Financing Loan
  • Adjustable Rate Mortgage
  • Interest Only Mortgage
  • Subprime Mortgage
  • http://www.myhomeloanmortgages.com/rates/100-percent-financing.aspx

    Low Cost No Money Down Home Loan Solutions

    AAXA Discount Mortgage is pleased to offer fast, flexible no money down mortgage financing. The flexibility that these programs provide does not have to mean high rates and fees….  Our lenders offer highly competitive zero down home loans to qualified borrowers even if their credit is less than perfect.

    100% Mortgage Financing Programs , Creative Option to Finance Closing Costs, No Money Down Mortgage with No Private Mortgage Insurance, Adjustable Rate Zero Down Mortgage Products,  Less than Perfect Credit.

    If you are searching for the lowest payment possible, be sure to check out our interest only mortgage and option ARM programs.  

    http://www.forthebestrate.com/no-money-down-mortgage.aspx

    Zero Down Loans

    Closing costs can be financed – $250,000 to $962,000 – Credit scores as low as 580 (580 scores credit limit is $500K) – No income Verification – No Asset Verification [McAuley’s World – Get Your NINJA Loan here – No Income, No Asset, No Job, No problem]  http://www.loanshoppers.net/zero_down.htm 

    A zero down loan is good when you don’t have enough cash to pay your closing costs and make a down payment on the purchase of your home. It is also used to avoid paying Private Mortgage Insurance (PMI) costs. PMI is an additional charge you pay if you make less than a 20 percent down payment. This insurance policy protects the lender in the event of a payment default or foreclosure, and the loan is not paid off in full.

    Zero Down

    Zero down programs allow you to buy your home now, instead of waiting to save enough for a down payment.

    There are several options available for buying a home with zero down.

    Get one new loan at 100 percent loan-to-value (LTV), Some zero down programs allow you to borrow 3 to 7 percent of the purchase price to pay your closing costs. WE MAKE LOANS NOT EXCUSES!!!    http://landmarkmortgagelending.com/zero_down.html

    CHOICE FINANCE

    Question
    Can you please tell me more about the zero down option on the mortgage loan program?  which types are they, what kind of credit score does it allow for?

    Answer
    There is a lot of information regarding “zero down” mortgage programs. There are some great programs backed by Fannie Mae and Freddie Mac (these are the 2 government backed giants that control the industry) with great interest rates and credit requirements that don’t have to be sterling.

    I’ll give you an example: a borrower could have a 650 credit score and qualify for a “zero down” program backed by Fannie and Freddie. The rate would be approximately 6.5%.

    However, here’s another example: a borrower could have a credit score of 580 and no longer qualify for Fannie and Freddie but would be able to obtain 100% financing with well respected, publicly traded (NYSE or NASDAQ) companies. But the rate would be higher. [McAuley’s World – The rate is only higher until you receive your “mortgage modification” when the rate is written down to 2.5% and have your “principal crammed down” too ….. let your neighbors pay for the reductions through higher taxes – you can’t beat this deal with a stick]

    http://www.choicefinance.net/blog/tag/zero-down-financing/

    100% Financing No Down-payment Mortgage

    http://www.erate.com/100_percent_financing_no_downpayment_mortgage.htm

  • No Cash needed for down payment
  • Don’t need to liquidate stocks and other investments
  • Borrower may want to finance as much as possible for tax deduction purposes. 
  •  Debt ratios of 45 or less  [McAuley’s World – Don’t worry – after default or modification – the Governemnt will write you down to a 31% debt ratio while your neigbors pay the extra 14% for you] 
  • Zero Down Home Loans
    Home Purchase Loans – 100% Home Financing – No Money Down

    Zero Down Home Loans are offered to consumers with good and bad credit for 100% financing. We practice fair lending with 100% financing for conventional, home purchase loans, sub-prime, pick a payment loans, jumbo mortgages, negative amortization and interest only loans. 

    “Many people in California are finding the best way to get a low monthly payment is with the 1.25% negative amortization loans that allow borrowers to defer the interest until the end of the year. These payment option loans offer borrowers a payment that is even lower than the interest only payment. The negative amortization option is only available until the mortgage balance reached a 115% or 125% of the original mortgage balance depending upon the lender.”  [McAuley’s World – This loan will qualify you to move to the front of the mortgage bailout line – a zero down loan – to people with bad credit – with  less than an “interest only payment due” until you default – What a mortgage! With this mortgage a Municipal Bus Driver making $35K a year can mortgage a Million Dollar Home at Taxpayer Expense – What a Country we live in! Free Million Dollar Homes Paid For By Your Neighbors Taxes!]

    http://www.lendamerica.com/

    BD Nationwide Mortgage Introduces the Second Mortgage that Requires NO Appraisal for Home Equity Loans to 125% and Refinancing Credit Lines – “According to Citibank executive, Jim Markham, “Having the ability to use the AVM model is a Win-Win scenario for mortgage brokers and homeowners across the country. Mortgage brokers can increase their second mortgage volumes and borrowing consumers benefit from reduced costs and quicker loan processing cycles.” [Why would Citi care as long as Taxpayers keep “recapitalizing” the mortgage losses through TARP. “Appraisals” Are No Longer Needed For A “Mortgage Modification” at taxpayer expense – borrow as much as you want – you won’t be paying it back anyway]. http://www.bdnationwidemortgage.com/zero-down-home-loan.html , http://www.prweb.com/releases/mortgage/loans/prweb470912.htm 

    LOAN BIZ

    100% Zero Down Finacing – 125% Zero Down Home Equity Loans – Interest Only and negative amortization loans available. http://www.loanbizinc.com/

    Hurry, it’s not to late to get in on the scam – purchase a larger home or refinance your current home now. Default before Memorial Day and get your “Mortgage Modification” and “Cram Down” by Labor Day weekend.

    Why settle for a house you can afford when your neighbors will pay for your upgrade?

     Don’t settle for second best – go right to the top – http://www.acornhousing.org/TEXT/mortgage1.php – “Flexible credit guidelines and income requirements including the use of non-traditional income” – (Yes, welfare payments and food stamps can be used as income qualifiers.) ” We are very pleased with the level of commitment that CitiMortgage, First American and Fannie Mae are contributing to this effort”,  said Alton Bennett, President of ACORN Housing Corporation. Since its inception, AHC has provided free services to 250,000 households across the country, more than 80,000 of which have become homeowners, generating more than $10 billion in mortgages. 

    With AHC you get:

     Data from the Mortgage Bankers Association shows that a stunning 48 percent of homeowners who have subprime, adjustable-rate mortgages are behind on their payments or in foreclosure. http://news.yahoo.com/s/ap/20090305/ap_on_bi_ge/states_foreclosures 

    LET CONGRESS KNOW WHAT YOU THINK – http://www.usa.gov/Contact/Elected.shtml 

    Get A 0% Down Sub-Prime Mortgage Now – Join The Scam – Default By May 30th And Get Your Government Bailout Before Labor Day 2009

    If you thought you missed your chance to scam your friends and neighbors with a sub-prime mortgage loan – you know a loan you can’t afford for that bigger house you always wanted – your wrong.

    Live the champagne life on a beer budget and let your neighbors pick up the tab.

    Visit any of the cites below and get your sub-prime loan now ….. you still have time to default and get your the mortgage “crammed” down and “modified” before summer. Use the extra cash to buy a new car and boat ………. 

    100% Financing Loans

    More and more Americans are choosing to pay for their home with a 100% financing mortgage, also known as a no down payment or a zero-down mortgage loan.  This type of home mortgage frees borrowers from the worry and burden of having to gather and set aside funds for closing costs and a down payment in order to purchase a home. 

    100% financing, or complete financing of the property via a first mortgage exclusively

    ….. we offer bad credit mortgage loans, which service consumers with scarred credit histories and “incapacitating financial circumstances”.

    • No cash is required for down payment
    • Stocks and other investments need not be liquidated to purchase the property
    • Private mortgage insurance is not required (unlike a conventional loan)
    • The greater the amount financed, the higher the tax deduction for the loan interest paid
    • The opportunity to use and/or start earning equity in the new home, instead of having it tied up
    • The ability to have their money earn interest in a money market fund or savings account
    • Diminution of their financial risk and risk-shifting to the lender [The lender shifts the burden to the taxpayer via a bailout]
    • Qualify for a bigger mortgage

    Borrowers must decide whether to apply for an adjustable rate mortgage (ARM) or a fixed rate mortgage.  Eligibility requirements for the former are easier to satisfy, and an ARM offers lower mortgage rates.  [McAuley’s World – Wow, you can get an ARM and blame the lender later] 

    Compare Mortgage Loan Rates: 
    • 100 Percent Financing Loan
    • Adjustable Rate Mortgage
    • Interest Only Mortgage
    • Subprime Mortgage

    http://www.myhomeloanmortgages.com/rates/100-percent-financing.aspx

    Low Cost No Money Down Home Loan Solutions

    AAXA Discount Mortgage is pleased to offer fast, flexible no money down mortgage financing. The flexibility that these programs provide does not have to mean high rates and fees….  Our lenders offer highly competitive zero down home loans to qualified borrowers even if their credit is less than perfect.

    100% Mortgage Financing Programs , Creative Option to Finance Closing Costs, No Money Down Mortgage with No Private Mortgage Insurance, Adjustable Rate Zero Down Mortgage Products,  Less than Perfect Credit.

    If you are searching for the lowest payment possible, be sure to check out our interest only mortgage and option ARM programs.  

    http://www.forthebestrate.com/no-money-down-mortgage.aspx

    Zero Down Loans

    Closing costs can be financed – $250,000 to $962,000 – Credit scores as low as 580 (580 scores credit limit is $500K) – No income Verification – No Asset Verification [McAuley’s World – Get Your NINJA Loan here – No income, No Asset, No Job, No problem]  http://www.loanshoppers.net/zero_down.htm 

    Zero Down

     

    A zero down loan is good when you don’t have enough cash to pay your closing costs and make a down payment on the purchase of your home. It is also used to avoid paying Private Mortgage Insurance (PMI) costs. PMI is an additional charge you pay if you make less than a 20 percent down payment. This insurance policy protects the lender in the event of a payment default or foreclosure, and the loan is not paid off in full.

    Zero down programs allow you to buy your home now, instead of waiting to save enough for a down payment.

    There are several options available for buying a home with zero down.

    Get one new loan at 100 percent loan-to-value (LTV), Some zero down programs allow you to borrow 3 to 7 percent of the purchase price to pay your closing costs. WE MAKE LOANS NOT EXCUSES!!!    http://landmarkmortgagelending.com/zero_down.html

    CHOICE FINANCE

    Question
    Can you please tell me more about the zero down option on the mortgage loan program?  which types are they, what kind of credit score does it allow for?

    Answer
    There is a lot of information regarding “zero down” mortgage programs. There are some great programs backed by Fannie Mae and Freddie Mac (these are the 2 government backed giants that control the industry) with great interest rates and credit requirements that don’t have to be sterling.

    I’ll give you an example: a borrower could have a 650 credit score and qualify for a “zero down” program backed by Fannie and Freddie. The rate would be approximately 6.5%.

    However, here’s another example: a borrower could have a credit score of 580 and no longer qualify for Fannie and Freddie but would be able to obtain 100% financing with well respected, publicly traded (NYSE or NASDAQ) companies. But the rate would be higher. [McAuley’s World – The rate is only higher until to apply and receive your “mortgage modification” where you can have the rate written down to 2.5% and have your “principal crammed down” and let your neighbors pay for the reductions through higher taxes – you can’t beat this deal with a stick]

    http://www.choicefinance.net/blog/tag/zero-down-financing/

    100% Financing No Down-payment Mortgage

  • No Cash needed for down payment
  • Don’t need to liquidate stocks and other investments
  • Borrower may want to finance as much as possible for tax deduction purposes. 
  •  Debt ratios of 45 or less  [McAuley’s World – Don’t worry – after default – the Governemnt will write you down to a 31% debt ratio and your neigbors will pay the extra 14% for you] 
  • http://www.erate.com/100_percent_financing_no_downpayment_mortgage.htm

    Zero Down Home Loans
    Home Purchase Loans – 100% Home Financing – No Money Down

    Zero Down Home Loans are offered to consumers with good and bad credit for 100% financing. We practice fair lending with 100% financing for conventional, home purchase loans, sub-prime, pick a payment loans, jumbo mortgages, negative amortization and interest only loans. 

    “Many people in California are finding the best way to get a low monthly payment is with the 1.25% negative amortization loans that allow borrowers to defer the interest until the end of the year. These payment option loans offer borrowers a payment that is even lower than the interest only payment. The negative amortization option is only available until the mortgage balance reached a 115% or 125% of the original mortgage balance depending upon the lender.”  [McAuley’s World – This loan will qualify you to move to the front of the mortgage bailout line – a zero down loan – to people with bad credit – with  less than an “interest only payment due” until you default – What a mortgage! With this mortgage a Municipal Bus Driver making $35K a year can mortgage a Million Dollar Home at Taxpayer Expense – What a Country we live in! Free Million Dollar Homes Paid For By Your Neighbors Taxes!]

    BD Nationwide Mortgage Introduces the Second Mortgage that Requires NO Appraisal for Home Equity Loans to 125% and Refinancing Credit Lines – “According to Citibank executive, Jim Markham, “Having the ability to use the AVM model is a Win-Win scenario for mortgage brokers and homeowners across the country. Mortgage brokers can increase their second mortgage volumes and borrowing consumers benefit from reduced costs and quicker loan processing cycles.” [Why would Citi care as long as Taxpayers keep “recapitalizing” the mortgage losses through TARP. “Appraisals Are No Longer Needed For A “Mortgage Modification” at taxpayer expense – borrow as much as you want – you won’t be paying it back anyway]. http://www.bdnationwidemortgage.com/zero-down-home-loan.html , http://www.prweb.com/releases/mortgage/loans/prweb470912.htm 

    LOAN BIZ

    100% Zero Down Finacing – 125% Zero Down Home Equity Loans – Interest Only and negative amortization loans available. http://www.loanbizinc.com/

    Hurry, it’s not to late to get in on the scam – purchase a larger home or refinance your current home now. Default before Memorial Day and get your “Mortgage Modification” and “Cram Down” by Labor Day weekend.

    Why settle for a house you can afford when your neighbors will pay for your upgrade?

     

    http://www.lendamerica.com/

    Don’t settle for second – go right to the top – http://www.acornhousing.org/TEXT/mortgage1.php – “Flexible credit guidelines and income requirements including the use of non-traditional income” – Yes, welfare payments and food stamps can be used as income qualifiers. ” We are very pleased with the level of commitment that CitiMortgage, First American and Fannie Mae are contributing to this effort”,  said Alton Bennett, President of ACORN Housing Corporation. Since its inception, AHC has provided free services to 250,000 households across the country, more than 80,000 of which have become homeowners, generating more than $10 billion in mortgages. [Stats as of December 2006] 

    With AHC you get:

    • Lower down payments and closing costs.
    • No Private Mortage Insurance.
    • Banks generally require 3 months of mortgage payments in the bank at settlement.
    • With our program, they don’t, which allows you to buy a home sooner.
    • Most banks won’t count public assistance or voluntarily child support in determining if you’ll qualify for a mortgage.
    • With our program, all steady income counts.

     

    Remember, it may actually help to under-report your income to ACORN to qualify for HUD Programs and subsidies. http://www.mortgageqna.com/federal-government-loans/hud-median-income-limits.html , http://www.huduser.org/datasets/il.html , https://www.efanniemae.com/sf/refmaterials/hudmedinc/index.jsp

     LET CONGRESS KNOW WHAT YOU THINK – http://www.usa.gov/Contact/Elected.shtml 

    Data from the Mortgage Bankers Association shows that a stunning 48 percent of homeowners who have subprime, adjustable-rate mortgages are behind on their payments or in foreclosure. An additional 30% of those who obtained subprime loans over the last 5 years have already defaulted on their mortgages and are not included in the above statistic. In total 78% of those with subprime loans have either defaulted, are currently in foreclosure or are at least 1 month behind in their mortgage payment.  http://news.yahoo.com/s/ap/20090305/ap_on_bi_ge/states_foreclosures

    It is impossible to determine how many of these mortgage holders are “withholding” their mortgage payments to avail themselves of the substantial cash bonus available from a mortgage “cram down”.

    %d bloggers like this: