After receiving a letter from Well Fargo regarding a short sale option for main street; after the mortgage brokers did a bate and switch on main street by raising their interest rate on their equity loans; they are now using the banks as their middle men to collect main street payments. Then our elected public servant gives the banks back their money that the mortgage brokers sold; from the the bail out TARP money which is funded by main street. Now Wells Fargo, who is only the servers for the mortgage brokers, have a policy not a law; that states Additional Information regarding the short sale to make sure that Main Street does not get any benefit from the short sale of selling their home. You see the mortgage broker, the banks and our elected representative all know how to make sure that main street will be the only losers in their economic bate and switch schemes. Bernie Madeoff is not the only one who should be in prison!! The following is the reasons for a short sale according to Wells Fargo documented letter.
1. A short sale is designed to help people avoid foreclosure. My response is "Well then since the banks got the TARP funds; why doesn't the elected public servants write legislation that says the banks do not have to be servers for the mortgage brokers; and make the brokers lower the principle of the loan?"
2. A short sale will reflect as a "paid in full" for less than full balance on your credit report. "My response is why is this even on the citizens credit report? We all know that America is in debt............to China. So why is it such a big deal when main street is in debt to the thieves in the United States?"
3. Consult a tax professional on potential tax liability on any unpaid deficiency balance. "My response is why? Will "we the people" have to pay the taxes on the write off after bailing out the banks?"
4. A short sale must be an "arms-length" transaction. The property may not be sold to anyone the seller has a close personal or business relationship with including family, friends or neighbors. "My response is now they want to make sure that main street cannot sell their property to a family member for less...........so that the family member cannot return the property back for less and keep their home at market rate. Remember the banks already have the TARP bailout funds............however, they are still trying to make sure that main street doesn't get any break from the bate and switch schemes."
5. A short sale can save some of the embarrassment and stress of a foreclosure action. "My response is the embarrassment is not on main street it is on the elected public servants, the banks and the mortgage brokers who took the bail out funds from main street and made whole. Remember the wealthy has always had a tax free lifestyle."
Now my question to our elected public servants, the mortgage brokers, and the banks............Why do you all borrow from main street.........and then make sure main street never recover? Do you all really believe that you can exist without "We The People" on Main Street?