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Beware the Predatory Home Mortgage Industry

By: Eugene Garner A

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The predatory Mortgage Industry isn't the honest industry that you may think. Many of the banks in the Mortgage Industry have been caught red handed attempting to overcharge their customers while frequently seeking to shift the blame on to the customers that have just been pursuing the financial approaches endorsed by our chosen government representatives and their banking corporate masters.
Caution....Your banker is actually NOT your advocate!
Everyone informed of current events must know by now that the banking industry is about as criminal as it gets. Headed by the Federal Reserve, a private corporation owned by a cartel of grasping money changers, have conveniently bought off your Government representatives to accept perverted bailouts, and their assignment now is to deprive you of your possessions by any manner necessary.
One shrewd method of stealing our property is their foreclosure rip-off. Assuming they had actually loaned money for the loan they are foreclosing on, you might dispute the lawfulness. But then they in no way lent you a dime! No money ever changed hands, just smoke and mirror entries to their books.
It performs In this way. You go to the bank pleading for a loan for the purchase of a home and have to leap through hoops and render all manner of intrusive information and facts just to feel if you qualify. Once you are checked out, their fun commences.
Assume you desire to obtain a property for $120,000. The bank is inclined to lend $100,000. To be able to 'fund' your mortgage loan they will charge ~ 3 to 6% of the loan sum in ridiculous charges. The bank then sets up an escrow account, and at close of escrow, this is what comes about:

The bank gets a lien on the deed to your home(worth $120,000), your promissory note for $100,000 and up to $6000 in charges. This will increase the bank's funds by $206,000 which unfortunately, they can certainly to loan out again. After that the bank transfers your down payment and $100,000 to the seller, the $100,000 is just an entry in their books that just balances their books.
This $100,000 is created out of nothing, it is just added to the Federal Reserve's National Debt that was also created out of thin air, and you and I get to pay for the interest on that debt......that's referred to as the income tax that the IRS manages.
Considering the funds they are lending you was manufactured from your note and never existed except for an entry on their books, it essentially just devalues the current U.S. currency.
It's labeled 'fractional reserve lending'... look it up.
The banking world is now the only game in town and because they manipulate the money, they create the rules. They hold in derision the exorbitant interest rates that would embarrass a Mafia loan shark and hustle the home finance sector.
Their method of fractional reserve lending denies their pretext that they don't have funds to lend since that approach generates money (debt) from thin air.

The bad news is that with the current political climate nothing much will change soon.
The nice news is that there are regulations and protections for the client (which usually are ignored by the banks) that even the playing field, IF and only IF the client is informed of them. It is virtually impossible for the ordinary man or women to be informed of the legal jargon and the labyrinth of rules involved.
(C)Homerun Lending, allied with Elink Equity offers the resources and services to keep the banks honest from loan origination to closing with total protection of the consumer.

We manage home loans, loan audits, refinance and foreclosure assistance. . Our mission is to save you money, time and your property.
In order to secure yourself from the possible traps used by the Mortgage sector, get this service someplace, if not from us. Your financial security is in jeopardy.

Article Source: http://depositarticles.com/

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