We Are The Banksters and We Are Here To Help You!

By
Real Estate Agent with International Properties and Investments LLC

The Banksters are claiming that they are here to help release the burden of our overloaded and short of cash courts. The Banksters are saying that they are really here to help you. 

The Florida Bankers Association has drafted a 55 page bill called The Florida Consumer Protection and Homeowner Credit Rehabilitation Act- which you can read right here. 

Now, how many people here believe that the banks really have the homeowners best interests in mind? See how sneaky the name of this bill is? 

Joe Manausa of Tallahasse Real Estate wrote an article that sums up a lot of the lies and misconceptions of this bill. You can read: Does The Florida Bankers Association Think You're Stupid? Here. 

The banks are the ones that are NOT foreclosing on the homes here in Florida. Yes, the courts are backed up but that is not the reason that the banks are doing this. They claim that 37 other states already have non judicial foreclosures and so Florida should too. Well, let's see, Georgia has non judicial foreclosures and they are worse off than Florida is. They have blighted neighborhoods with lots of foreclosed homes that are NOT taken care of and not kept up yet the Banksters want you Florida residents to believe that these banks are going to somehow start taking care of your neighborhood???? PLEASE!!!!!

It gets worse. This bill is so toxic that the Banksters refuse to release the legislative sponsor of the bill. Hmmm, could it be that this person's political life will be over once revealed????? Do not give up your judicial rights! 

As agents- you think short sales are hard now? At least we can get judges to postpone foreclosures so we can get short sales done. We can get time. In non judicial states- the agents are fighting unrealistic time clocks!  Right now we can get short sales done to help homeowners. That is moving a market. But creating more shadow inventory is not. 

Even if you are making your mortgage payments on time you need to understand what this bill really says and what it is all about and it is NOT about helping you and your neighborhood. Put yourself in someone else's shoes. Let's just say that you lost your job. Then you went behind in your mortgage payments. But then in 3 months you get another job and can start catching up on your mortgage payments. In our JUDICIAL state; you can go before a judge and ask him to grant you the time to catch up on your payments. With this bill all you are going to get is a Deed In Lieu in the mail! WOW! What a gift from your bank that would be! 

But wait, there is MORE!!!! 

Please read this entire post because there is much more for you to learn here. This is SO important! 

Do you really think this bill is about helping the consumer as the title of the bill eludes to? Please quote me one time where the banksters did something for you. Everything they claim to want this bill to do the banks can already do except they must go through the courts to do it. The carrot they are dangling is a release of deficiency with a Deed in Lieu. But don't grab your carrot so fast. 

As Joe points out in his post- the banksters really want to be able to control their ability to foreclose. There are underlying sneaky tactics that they are going to be able to pursue. Even if you plan to live in your home for 30 years and you always make your mortgage payment on time, this bill stands to effect you.

Because even if you do pay on time every month, pay your taxes, pay your HOA, pay your insurance but the market value in your house drops- there is a very sneaky piece of fine print in your mortgage that states that the bank can require you to make up the difference in the loss of value. Most banks don't try that one here in Florida because guess what!!! The judges are not very thrilled about things like this and you could fight this in court. What if the difference in the market for your home was $20,000 or $60,000. Could you pay that to the bank at their request right now? You see, a judge knows that and you can have your day in court over this issue. Sounds to me like a sneaky way for the banks to raise capital quickly or else foreclose on you. 

What the banks really want is the ability to foreclose on any property that they desire to do so to. 

And there is still more! 

The Bankers Association did not stop with this bill in the House but they also created another bill for the Senate, one that is broader and just another way to gain control. 

This one is called: The Nonjudicial Foreclosure Act For Nonhomestead Properties. 

Another sneaky way to get in one door that the Banksters are hoping on. This bill is like getting the homesteaded homeowners to attach those that come here for vacations providing income to our state or those with second homes or even those who do live here but are investors. Take away their rights to go to court, sounds like a plan to most people but again, you must read beneath the title. You have to read these bills. If you give them an inch they will take a mile. 

There is a section in this bill that says that the banks will also be able to use nonjudicial proceedings for "abandoned" properties. Well, Nestor and I are constantly going to listings we have where the banks have changed the locks even when the homeowners are still living there and the banks claim they thought the house was "abandoned". This is another snow job in a state where it is not supposed to snow. Don't let them kid you. 

Now, this bill has a sponsor that has put his name out in the open on it. We are calling out to our friends in Bradenton Florida to put pressure on your Senator! 

This bill is being sponsored by Sentor Michael S "Mike" Bennett- District 21- Republican. I don't know if he was planning on running for the Senate again as we do have term limits in Florida. Nevertheless, contact him ASAP to let him know this is not good for your property rights. 

Here is the Flyer that you can print out that you can sign and please send in to your elected members of the Florida Legislature. You can also go directly to: http://www.PigsAss.org to get a link to pass along to all of your friends, neighbors and people at work. If you are a Realtor® please go to your RPAC at your boards and get them on the side of the homeowners and property rights which is what the essence of NAR is supposed to be about. 

Stop These Bills Now. Protect Your Right To Judicial Procedures- This is being called the Trojan Horse Bill. Please reblog. Please pass along to all Florida Residents now. Don't forget, don't delay, do it now. 

 

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Re-Blogged 5 times:

Re-Blogged By Re-Blogged At
  1. Joseph J. Chang 03/08/2010 08:08 AM
  2. Judy Chapman 03/08/2010 06:23 PM
  3. Lynn Pineda 03/08/2010 09:07 PM
  4. Sharon Alters 03/08/2010 10:12 PM
  5. Jenna Dixon 03/09/2010 06:22 PM
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Anonymous
Anonymous
Anonymous

The banksters keep getting away with what they're doing because the politicians do their bidding. That's why VOTING is so important. And why INFORMED VOTING is paramount. Labels are unimportant. Character is all that matters. And character means finding out why a candidate is running. Is it to get rich? Is it to have power? Is it to foist on others their own beliefs or ideas? Or is it to serve the people and the people's interests?

The opening words to the constitution are We the People, not We the Corporations.

Okay, I'm getting carried away here. Stop me before I say something I'll regret.

 

Mar 08, 2010 06:19 PM #46
Rainmaker
396,068
Cameron Novak
The Homefinding Center - Corona, CA
Featured Corona Real Estate Agent Team

Homeowners have already lost their Judicial rights here on the LEFT COAST.  It's just a matter of time before they take yours too.

Mar 08, 2010 06:27 PM #47
Ambassador
1,900,124
Nestor & Katerina Gasset
International Properties and Investments LLC - Wellington, FL
Realtors, Wellington Florida Homes For Sale

Judy- I agree. George Washington did not want to be President. He then would only serve 2 terms. He then went back home to his farm. He did not want to be a king yet most people wanted him to be a king. He is an amazing example of serving because the people wanted him to, not for his own glory. 

When Big Biz and Big Gov't got so cozy, ( think it was Rockefeller who made the first deal to do that in New York a long time ago) that was the beginning of the end of capitalism in our county. We don't have free markets, we have manipulated markets. We don't have capitalism, we have corporate and Fed Reserve Fascism. People need to realize and study the difference. People who blame free markets and capitalism have not one idea of that that means because during most of their lifetimes, they have never had the real free markets. 

Yes, I will stop now too. ;) 

Mar 08, 2010 07:09 PM #48
Rainmaker
558,669
Chris Olsen
Olsen Ziegler Realty - Cleveland, OH
Broker Owner Cleveland Ohio Real Estate

Hi Katerina -- I'm not shocked at all by banks.  After reading about stop-loss agreements and sundry other topics all things banking, it is very disheartening when the little guy gets screwed at every turn.

Mar 08, 2010 09:02 PM #49
Rainmaker
336,893
Lynn Pineda
Imagine Your House - Coral Springs, FL
Coral Springs REALTOR- Promises Delivered

Katerina, Banksters trying to pull the wool over our eyes with slick bill Titles..."....consumer protection...." Isn't that comical. Consumers being protected? Says who?! As homeowners, let's just give up all our rights, let's just give up all our monies too while we're at...let's just spread it around...Oh my this is really frightening! I'm going to read your links further and reblog too. Thanks for making this a headline Katerina!

 

Mar 08, 2010 09:04 PM #50
Rainmaker
977,580
Sharon Alters
Coldwell Banker Vanguard Realty - Fleming Island, FL
Your Fleming Island Relocation Agents.

Katerina, I'm re-blogging this, talking about it at our sales meeting, and with our NEFAR caravan. This is NOT good for our state and other states are smart to watch - what happens here could jump over to their state.

Florida State Senate - Contact

Florida House of Representatives - Contact

 

Mar 08, 2010 10:05 PM #51
Ambassador
1,564,018
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 800-610-7253 DRE01267479 - Costa M

California has non-judicial and judicial, but most everything is non-judicial.
 We have to go to the banks to postpone the foreclosure date and are at their mercy.

Did I read correctly that one of the bills will allow the bank to force borrowers who are current to give the bank more money if value is lost on the homes?  Is that so the bank is never upside down?

Mar 08, 2010 11:42 PM #52
Rainer
230,753
Geoff ONeill
John L. Scott Medford - Medford, OR

Wow!  I had no idea.  Hope you get this thing stopped.

Mar 09, 2010 12:13 AM #53
Rainer
247,026
Frank Castaldini
Coldwell Banker - San Francisco, CA
Realtor - Homes for Sale in San Francisco

I have never once believed that the banks where doing anything with the customers best interest as their top priority.  Anyone who does should have his or her head checked out.

Mar 09, 2010 12:47 AM #54
Ambassador
1,900,124
Nestor & Katerina Gasset
International Properties and Investments LLC - Wellington, FL
Realtors, Wellington Florida Homes For Sale

Frank, LOL! I so agree! I can not believe anyone who would actually be that naive to buy some 'consumer protection' bill sponsored by the banks! And yet, they are out there, in more ways than one. 

Mar 09, 2010 01:17 AM #55
Ambassador
1,900,124
Nestor & Katerina Gasset
International Properties and Investments LLC - Wellington, FL
Realtors, Wellington Florida Homes For Sale

Christine- Yes, this is so the banks would not be the ones upside down. It is a scary thought because as I stated in another comment - they are not setting this up for the down market. They are using this for the up market. 

The same kind of thing happened in the recession of the 80's. The interest rates were so high no one could qualify for a decent home in CA, I was licensed in CA at that time. We did assumptions and wrap arounds. There was no due on sale clause in those days. Now look what happened. The banks did not get that high interest and we were moving real estate from one person to another. THe banks wanted more control. They sold the world on their bill of goods and now there is a due on sale clause in every mortgage. 

Mar 09, 2010 01:21 AM #56
Rainmaker
134,415
Paul Francis
Prudential Americana Group - REALTORS - Las Vegas, NV
Las Vegas Real Estate - Summerlin Homes - 702.592.

Banksters with shady intent? Never in a Million Years... LOL!!

You know... amazingly we have Truth in Advertising laws but I don't think we have truth in bill headline law.

On another note... I know somebody with two investment properties in Georgia fully rented out... mortgage paid on time but the values have dropped to where they are worth less then the notes on them.

The Bank is giving them a certain date to either pay the difference or sell the properties... Amazing..

Our state is a 99% Non-Judicial state and yes.. if the bank does not want to approve that short sale.. they can and will just snatch it unless the owner stalls it by filing BK or a frivolous suit. Right now.. our short sale approval rate for our city as a whole is less then 50%.

Good for you in trying to find out who that secret sponsor is... A politician that will not put their name on a proposed bill is one that is getting paid off...

Mar 09, 2010 07:15 AM #57
Rainer
137,586
George & Arlene Paukert
Road to Wealth, Inc. - West Palm Beach, FL

I agree with you 100%!  I sent an email to my Florida Representative, Mackenson "Mack" Bernard urging him to vote NO on this bill.   And here's the reason...

Non-judicial foreclosures are held in states that are in TRUST DEED states such as Georgia, Nevada, and California.  When a homeowner is foreclosed under he deed of trust they usually have 90 days to vacate.

However, Florida is a MORTGAGE state.  Under the terms of the mortgage, the homeowner has the right to a judicial foreclosure through the court system.  If the Florida legislature passes this 90 day foreclosure bill, they are going against the terms of the mortgage the homeowner signed.   And if our state representatives really want this they should change the law - NOT add a bill to existing laws. 

By the way, I wonder if the state really wants this or are they being pressured by the banks?????   Hmmmmmmm.

 

Mar 09, 2010 12:32 PM #58
Rainmaker
570,044
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Katerina,  Banks and politicians -   what a dangerous combination !  Thanks for the research !

Mar 09, 2010 12:56 PM #59
Rainmaker
342,108
Dawn Maloney
RE/MAX Haven - Northeast Ohio Real Estate Specialist - Hudson, OH
330-990-4236 Hudson Stow Cuyahoga Falls Silver Lak

Discussion with husband: God is going to judge the banks.

Mar 09, 2010 03:35 PM #60
Rainmaker
325,145
Esko Kiuru
Bethesda, MD

Katerina,

Interesting reading even though it's about Florida banking business. Banks are largely behind this meltdown as it is and they are still shamelessly looking for additional advantages to cause even more trouble later on. Bizarre. 

Mar 09, 2010 08:57 PM #61
Rainer
25,604
Joseph Keech
Blue Atlantic Properties - Leland, NC

Banksters is the right word. They are always out to get you.

Mar 09, 2010 10:53 PM #62
Ambassador
1,900,124
Nestor & Katerina Gasset
International Properties and Investments LLC - Wellington, FL
Realtors, Wellington Florida Homes For Sale

Paul- Comment #57 This is exactly what we are talking about and why this must be stopped even for nonhomesteaded properties. Many non homesteads are just regular folks who have purchased one or two investment properties to use towards their retirement or college for the kids. These folks don't have gobs of money sitting around to give to their lenders on demand. This is exactly what we are trying to warn the people of Florida about. Katerina 

Mar 09, 2010 11:20 PM #63
Rainer
19,349
Vicki Baggs
Vista Real Estate Bayou Vista - Hitchcock, TX
Galveston County Waterfront

Unbelieveable, or rather, sadly it is believeable how the system can be worked.

Mar 10, 2010 12:07 PM #64
Rainmaker
148,701
Linda Lohman
Fonville Morisey Realty - Cary, NC
Former Teacher/Broker

Thanks Katarina, tons of information.  I need to reread to digest all of it.  Its so great we have our own personal AR short sale expert.

Mar 10, 2010 06:00 PM #65
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Nestor & Katerina Gasset

Realtors, Wellington Florida Homes For Sale
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