In spite of HAMP, there have been very few permanent mortgage modifications. Fannie(and the banks) have an incentive to foreclose, rather than modify mortgages.

This is a complete record of evidence to support the allegation that the housing boom was a fraudulent plan that begin in 1996. A choreographed disaster.

Some of you know that I have been researching and writing about this for over 2 years. A bit of what I have reported is just surfacing in the news, even though I constantly contacted them and provided information. Others have picked up a lot of the foreclosure information, which is helping. But the A-Z story needs to be told. I have the details.

This is offered to help homeowners fight to keep their homes and the news media to grow some and get the whole story out in the open.

Below are some suggested SOLUTIONS TO FORECLOSURE/INVESTOR problems.

I will begin with a simple analogy:

Snowball gets larger, rolls faster downhill

A critically important point are the political and financial relationship of these four subpoenaed Fannie Mae retained attorney firms, the state attorney general and Florida’s Republican Party supporters.

A person facing foreclosure shouldn’t be threatened with taxpayer-funded lawsuits during one of the most difficult moments of his or her life.

Over the past decade, Fannie Mae and Freddie Mac transformed themselves into some of the worst-run companies in recent history. But contrary to current talking points, the firms’ failings had almost nothing to do with their programs for low-income borrowers. As policymakers debate what should be done with the mortgage giants, a battle is now beginning in which the very availability of affordable housing for the middle class may be at stake.

Professor L. Randall Wray of the Department of Economics, University of Missouri, Kansas City is one of the leaders of the Modern Monetary Theory (MMT) approach to economics. His blogs are very clearly and simply written, well-organized, thorough, and generally fairly dispassionate. But the recent attack of the right on Fannie and Freddy really blew his gasket, and he responded with a really passionate rant against all the present attempts by the righties to impoverish the middle class, the old, the young, and generally everyone else except the rich in a post entitled: “The Wingnuts Go After Fannie and Freddy.”

Here’s a potential Obama bombshell that would shake up the 2010 midterms: Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt [...]

I was just browsing around today at Open Secrets. org when I noticed that Citigroup has contributed $853,930 to PAC’s and Individual Campaigns for 2010. Citigroup; the bank that American taxpayers bailed out to the tune of $45 Billion, only $31 Billion of which has been paid back. So let me get this straight; I bailed them out because they didn’t have any money. I know that’s simplistic, but stick with me. They were bailed out because they could not meet their obligations as a bank..translation: had no money. But for 2010 they have $850,000 to use to influence legislation. Sounds logical. I hope if I ever owe The Feds $14 Billion that they’ll look the other way while I try to bribe my favorite elected officials.

Deregulation in 1979 due to rising interest rates and the incessant whining of Savings & Loans lobbyists greatly contributed to the S&L scandal that cost US taxpayer $125 Biilion in losses and rocked the financial world for almost a decade. The S&L scandal was a direct contributor to the 1990-1991 recession.

The Financial Services Modernization Act of 1999 (Graham-Leach-Bliley) did away with restrictions on the integration of banking, insurance and stock trading imposed by the Glass-Steagall Act of 1933. Under the old law, banks, brokerages and insurance companies were effectively barred from entering each others’ industries, and investment banking and commercial banking were separated. This one act of deregulation stands at the center of a host of other things our government did that caused the Great Depression of 2008-2009, and on and on and on. Let’s ignore this new Great Depression for this post.