Short-Term Pain, Long-Term Wonder Foreclosure.com Scholarship Program Winning Essay 2017, (Grand Prize)


You know, I just read the following article, and see that the “Millennials” are being brain washed. Goldman Sachs said back around 2008 “Only the rich should own houses, everyone else should be renting”. Sorry, I am still looking for the article wherein I quoted from. I will find it, I used that in a brief.

I knew that meant trouble. Even with foreclosure hell in the middle of its heyday, it still meant something. Not long after that, people being foreclosed upon, began being offered the chance to rent the house that they just lost.

Now, these third party entities popped up almost over night, and instead of the properties at foreclosure, reverting back to the lenders, these third parties now purchase at foreclosure auctions. Then they offer to rent you your house, or take you to magistrate court and have your thrown out, instead of the banks having to do that.

Funny thing, if you research most of these third parties, back far enough, the banks own them too, so still the same thing, just different names. Nevertheless, I could not help but post the article. It is obvious that “they” want us all in little apartments in and around the cities, easier to control “us”. I just had not realized that they were in the progress of brain-washing the Millennials into not even wanting to own a house.

Read the article:

Short-Term Pain, Long-Term Wonder
Foreclosure.com Scholarship Program Winning Essay 2017, (Grand Prize)
https://article.foreclosure.com/short-term-pain-long-term-wonder-82f82b90ff52
Go to the profile of Foreclosure.com Staff
Foreclosure.com Staff
Feb 28, 2018
By Jack Duffley | University of Illinois At Urbana-Champaign

foreclosure-kid
(photo from https://article.foreclosure.com/short-term-pain-long-term-wonder-82f82b90ff52)

In the gleeful times of 2005, my parents decided, like so many others, that it was time to “upgrade.” They sold our smaller home on the other side of town, which had appreciated nicely, and bought a 3700 square foot behemoth in a town with already exorbitant property taxes. My younger brother and I were thrilled to finally have a basement, our own rooms, and even a concrete basketball court in our backyard! All eight-year-old me knew was that things were going to be a whole lot more comfortable from there, and my optimistic parents seemed to think the same.

Jack Duffley | University of Illinois At Urbana-Champaign
The year is 2017, and my parents have only just now reached the equity levels in the house that they started with over a decade ago, nearly one-hundred-fifty mortgage payments later. However, after being bombarded by extremely high taxes for that entire time, they are essentially underwater on the property, but see little choice but to hang on for dear life until equity recovers just a bit more before they abandon ship. A thin retirement plan, mostly resting on the house, has forced their hand.

My parents’ story is in no way unique; millions of Americans who purchased homes before the 2008 recession have faced similar dilemmas, often worse than theirs. Many had no choice but to foreclose during the worst of it. After all, the homeownership rate has declined almost 5 points nationwide since the recession.[1] If anything, they can be considered lucky, yet they are still stuck in the mud. Their children, on the other hand, are now at their own fork in the road: to be [a homeowner] or not to be.

And, all things considered, they are often choosing not to be. The census shows a stark dip in homeownership among those under the age of 35 of almost 10 percent, lowering significantly from its peak pre-recessionary levels of 43 percent to a dismal 34 percent. At the same time, rental vacancy rates nationwide fell from over 10 percent to less than 7 percent as more people turned to renting, millennials especially.[2] Why is this happening?

Aside from the obvious fear of the failure that their parents faced, millennials are renting more as they define their own unique lifestyle. Millennials, in ever increasing numbers, are focusing on “living now.” They are choosing to move into urban areas in particular. As a predominantly liberal group, and with large cities tending to lean left, this is partially due to political forces. The majority, however, is due to lifestyle conveniences that come with a city: multiple options for transportation and not needing to own a car, proximity to cultural events and nightlife, and, especially with the decline of the suburbs as retail simultaneously sinks, a more positive future economic outlook. They more readily take the loss in living space for these benefits than their previous generations did.

At the same time, a growing number of millennials are facing burdensome student loan debt. Rather than come out of college with pristine back-end ratios primed for a hefty mortgage, they are handcuffed by the debt that they have amassed in their early twenties. As the Pew Research Center has noted, 37 percent of people under the age of thirty have student loan debt. They contribute to the $1.3 trillion in student debt, leverage that could presumably be used for a mortgage or some other useful credit if it were not locked up already.[3] Millennials are trying to increase their earning power by going to school so that they have the opportunity to advance economically, but it is simultaneously holding many of them back via years of extra debt — debt that is notably not going to a physical asset.

What does this mean for real estate? For the single family home market, it spells disaster, at least in the short term. Grant Cardone, one of the premier real estate investors in the world, calls homeownership a “scam,” and emphasizes that renting over homeownership among young people is becoming more and more popular. He notes that there is a huge need for affordable rentals as millennials deviate away from single family homes. Cardone is always one to advocate renting as a more advantageous and flexible lifestyle choice, and, as it has been mentioned, millennials increasingly value the flexibility that comes with renting instead of buying a home. Many, like Cardone, now see homeownership as a solely negative ordeal.

While it may not be up to the level of a “scam,” there are significant drawbacks with owning a home. For one, it locks up a significant amount of capital, money that could be used for a number of different projects or investments. In sum, homeownership is very expensive, at least in the short term when people make their initial down payment and any potential renovations. This makes it very hard to own a home for people of all ages. Additionally, owning a home can financially lock someone to a particular location, one which they might not want to be in after a while. Finally, for those hoping for appreciation when they purchase their home, as with any investment, there is a chance that it does not pan out. A poorly timed crash can wipe out an owner’s equity in seconds just as it did to my parents and so many others.

While there are drawbacks, the Great Recession and its subsequent lifestyle shift suggest the lack of education about the benefits of owning real estate. Even my parents are constantly warning me of the dangers of homeownership; the shift is not totally driven by millennials themselves. They too are still shaken by their mistakes and the sledgehammer that was the crash. They ignore the value of building equity over the long term, the typical tax benefits that come with a primary residence, and the relative stability of the real estate market because they mistakenly overpaid for a house that, in hindsight, they cannot comfortably afford in a downturn. They just hope that I do not do the same, and rightfully so. However, what millennials should have learned from the recession is not that real estate is bad, but that they simply must be careful and reasonable with what they assume when purchasing it.
3310-Harrison-Rd-east-point
Unfortunately, the average consumer purchases on emotion. With the tremendous amounts of emotional trauma from the recession, millennials are increasingly refusing to buy a home as their parents might have desired at the same age. But what are they purchasing in its place? Many take on higher rents, consistent with the “living now” mentality. Many more use their money to buy a wealth of products online. Some are even speculating on cryptocurrency, something far more unknown than real estate, expecting to make a lot of money. Why do they do that? Because the average consumer purchases on emotion, not on something systematic. Real estate has already been proven to be a relatively safe and a potentially very powerful asset. Instead, the negatives have been, and continue to be, emphasized. This masks the positives of owning a home, or even a simple condo. Millennials in some cases are mistakenly ignoring all real estate and not just the kind of overleveraging or speculating that got their parents into trouble.

Does this spell the end to America? Will the country burst into flames as millennials move to urban areas? Of course not. It must be noted that the current trend does not own the future; millennials could very well begin to purchase homes in huge numbers, especially as prices drop over the next few years. While it is likely that this will not be the case, it is impossible for anyone but millennials themselves to determine that.

What is certain is that, in the short run, there will be pain. The single family housing market is going to suffer as millennials make lifestyle choices contrary to their parents. The market will be oversupplied with single family homes. However, millennials will still need a place to live, just like anyone else. Their increasing demand for urban locations and conveniences will push rent up in cities, as it already has in places like San Francisco and Seattle. This will open a new, and huge, opportunity for real estate investors and developers alike to profit in the cities as millennials develop their own American Dream. After all, a dream is only what a person makes of it, not what someone else defines it as.

References:
[1] U.S. Census Bureau, Annual Homeownership Rates for the United States and Regions: 1968–2016, (accessed Dec 10, 2010), https://www.census.gov/housing/hvs/data/charts/fig05.pdf

[2] U.S. Census Bureau, Annual Rental Vacancy Rates for the United States and Regions: 1968–2016, (accessed Dec 10, 2010), https://www.census.gov/housing/hvs/data/charts/fig03.pdf

[3] Anthony Cilluffo, “5 facts about U.S. student loans,” Pew Research Center, last modified August 24, 2017. http://www.pewresearch.org/fact-tank/2017/08/24/5-facts-about-student-loans/

The winning essay above was submitted to Foreclosure.com’s scholarship program.

The 2017 essay topic:
IS THE “AMERICAN DREAM” OF ONE DAY OWNING A HOME ALIVE AND WELL AMONG MILLENNIALS?
Millennials having experienced the “Great Recession,” which was the traumatic housing crisis that triggered the financial crisis a decade ago. As a result, data suggests that Millennials (those born between 1981 to 1997) have been slow to adopt homeownership. Discuss the pros and cons of homeownership for Millennials, as well as which factors could increase or decrease homeownership among the generation. Will their collective hesitation and apprehension hurt them in the long run or are Millennials simply in the process of re-defining the “American Dream?”

Pay Attention! Look at the money trail AFTER the foreclosure sale, by Neil Garfield


Pay Attention! Look at the money trail AFTER the foreclosure sale
Posted on July 3, 2018 by Neil Garfield
https://livinglies.wordpress.com/2018/07/03/pay-attention-look-at-the-money-trail-after-the-foreclosure-sale/

My confidence has never been higher that the handling of money after a foreclosure sale will reveal the fraudulent nature of most “foreclosures” initiated not on behalf of the owner of the debt but in spite of the the owner(s) of the debt.

It has long been obvious to me that the money trail is separated from the paper trail practically “at birth” (origination). It is an obvious fact that the owner of the debt is always someone different than the party seeking foreclosure, the alleged servicer of the debt, the alleged trust, and the alleged trustee for a nonexistent trust. When you peek beneath the hood of this scam, you can see it for yourself.

Real case in point: BONY appears as purported trustee of a purported trust. Who did that? The lawyers, not BONY. The foreclosure is allowed and the foreclosure sale takes place. The winning “bid” for the property is $230k.

Here is where it gets real interesting. The check is sent to BONY who supposedly is acting on behalf of the trust, right. Wrong. BONY is acting on behalf of Chase and Bayview loan servicing. How do we know? Because physical possession of the check made payable to BONY was forwarded to Chase, Bayview or both of them. How do we know that? Because Chase and Bayview both endorsed the check made out to BONY depositing the check for credit in a bank account probably at Chase in the name of Bayview.

OK so we have the check made out to BONY and TWO endorsements — one by Chase and one by Bayview supposedly — and then an account number that might be a Chase account and might be a Bayview account — or, it might be some other account altogether. So the question who actually received the $230k in an account controlled by them and then, what did they do with it. I suspect that even after the check was deposited “somewhere” that money was forwarded to still other entities or even people.

The bid was $230k and the check was made payable to BONY. But the fact that it wasn’t deposited into any BONY account much less a BONY trust account corroborates what I have been saying for 12 years — that there is no bank account for the trust and the trust does not exist. If the trust existed the handling of the money would look very different OR the participants would be going to jail.

And that means NOW you have evidence that this is the case since BONY obviously refused to do anything with the check, financially, and instead just forwarded it to either Chase or Bayview or perhaps both, using copies and processing through Check 21.

What does this mean? It means that the use of the BONY name was a sham, since the trust didn’t exist, no trust account existed, no assets had ever been entrusted to BONY as trustee and when they received the check they forwarded it to the parties who were pulling the strings even if they too were neither servicers nor owners of the debt.

Even if the trust did exist and there really was a trust officer and there really was a bank account in the name of the trust, BONY failed to treat it as a trust asset.

So either BONY was directly committing breach of fiduciary duty and theft against the alleged trust and the alleged trust beneficiaries OR BONY was complying with the terms of their contract with Chase to rent the BONY name to facilitate the illusion of a trust and to have their name used in foreclosures (as long as they were protected by indemnification by Chase who would pay for any sanctions or judgments against BONY if the case went sideways for them).

That means the foreclosure judgment and sale should be vacated. A nonexistent party cannot receive a remedy, judicially or non-judicially. The assertions made on behalf of the named foreclosing party (the trust represented by BONY “As trustee”) were patently false — unless these entities come up with more fabricated paperwork showing a last minute transfer “from the trust” to Chase, Bayview or both.

The foreclosure is ripe for attack.

Spread the word

Comey ‘Rigged’ Hillary Clinton FBI Investigation, No Shit?


Donald Trump: James Comey ‘Rigged’

http://www.breitbart.com/big-government/2017/09/01/donald-trump-james-comey-rigged-hillary-clinton-fbi-investigation/

President Donald Trump reacted to reports that former FBI Director James Comey already started drafting a statement clearing Hillary Clinton two months before she was interviewed by the FBI.

“Wow, looks like James Comey exonerated Hillary Clinton long before the investigation was over…and so much more,” Trump wrote on Twitter. “A rigged system!”

In a letter to FBI Director Christopher Wray, Republican senators revealed transcripts of an Office of Special Council interview with Comey’s Chief of Staff and other FBI officials.

“Conclusion first, fact-gathering second — that’s no way to run an investigation,” the letter from Senator Chuck Grassley and Senator Lindsey Graham read. “The FBI should be held to a higher standard than that, especially in a matter of such great public interest and controversy.”

White House Press Secretary Sarah Sanders also commented on the story in Thursday’s press briefing.

“If it is as accurate as they say it is, that would certainly give cause and reason that Jim Comey was not the right person to lead the FBI,” she said.

From WND: FEDERAL SLUSH FUND: AGENCIES COLLECT $83 BILLION IN FINES


(Daily Caller) Federal agencies increased their spending by collecting more than $83 billion worth from fines, penalties and settlements with individuals and corporations between 2010 and 2015, then spent the funds without prior congressional approval, according to the House Committee on Oversight and Government Reform.

Republicans on the panel analyzed how 34 federal agencies collected and spent the money in a report titled “Restoring the Power of the Purse: Shining Light on Federal Agencies Billion Dollar Fines Collections.” The report was made public Wednesday.

Twenty-two of the 34 analyzed agencies kept fees they collected, while the remaining 12 sent such funds to the U.S. Department of the Treasury.

Read more at http://www.wnd.com/2016/12/federal-slush-fund-agencies-collect-83-billion-in-fines/#uTxfW8fDYBkI3UcG.99

By Bruce Moyer: March 2015: The Most Powerful Court You Have Never Heard Of



Washington Watch | March 2015
By Bruce Moyer

Long The disclosures by Edward Snowden about the size and scope of the National Security Agency’s surveillance activities, both in the United States and abroad, has prompted a flurry of Congressional proposals aimed at reframing the foreign intelligence- gathering process. While the thrust of these proposals is aimed at the intelligence-gathering process itself, several would also alter the operations of the federal court in Washington that provides judicial oversight of intelligence gathering and, in fact, authorized the con- troversial NSA telephone metadata collection effort disclosed by Snowden.

The court we’re talking about is the Foreign Intelligence Surveillance Court, or FISC. Described by CNN as “the most power- ful court you have never heard of,” the panel plays a significant role in the sensitive balance of foreign intelligence-gathering and civil liberties. Established in 1978 by the Foreign Intelligence Surveillance Act (FISA), the FISC hears applications from the government and decides whether to issue orders approving certain electronic surveil- lance activities for foreign intelligence purposes. Another Article III tribunal co-located in Washington, the Foreign Intelligence Surveillance Court of Review (FISCR), reviews the rulings of the FISA court. Collectively these are referred to as the FISA courts.

Unique Among Federal Courts
The FISC is unique among federal courts in its narrow jurisdiction, the selection of its judges, and the secret conduct of its day-to-day operations. The Chief Justice of the U.S. Supreme Court plays an especially engaged role in the affairs of the court. The FISC’s 11 district court judges and review court’s judges are “designated” by the Chief Justice, foregoing the usual process of presidential appoint- ment and Senate confirmation. Similarly, the Chief Justice designates the chief judge of the FISC and the FISCR. The judges of both courts serve one term of seven years and are not eligible for a second term. Because of the sensitive nature of its docket, the FISC and the Review Court operate largely in secret and in a nonadversarial fash- ion. Since its creation in 1978, the FISC has operated primarily in an ex parte manner with the government as the only party presenting arguments to the court and seeking warrants approving of electronic surveillance, physical searches, the use of a pen register or a trap- and-trace device, or the access to business ecords for foreign intelligence and international terrorism investigations.

The FISC operates out of a secure location in the federal court- house in Washington, D.C. Each week, one of the eleven district court judges that comprise the FISC is on duty in Washington. Most of the FISC’s work is handled by the duty judge with the assistance of a small group of attorneys and clerk’s office personnel who staff the court. On occasion, judges outside of the duty-week rotation handle more complex or time-consuming matters, at the direction of the Presiding Judge.

The secret and nonadversarial nature of the FISC’s proceedings and the revelation of the court’s approval of the NSA telephone meta- data collection effort have spurred several Congressional proposals that would change some of the underlying practices of the FISA courts. The most controversial proposal involves the court’s appoint- ment of a special advocate when the court is considering a novel or significant interpretation of law. Other proposals would establish en banc panels of the FISC and would alter the voting rules of the FISC in an attempt to create a higher bar for the approval of government surveillance activities.

A Special Advocate Before the FISA Courts?
The appointment of a special advocate within the FISA courts has stirred the greatest controversy. The House last year passed legislation (H.R. 3361) giving the FISA courts substantial discretion to determine when to appoint an advocate, as well as decide the nature and scope of the assistance to be provided by the advocate. A broader Senate measure (S. 2685) last year would have more rigidly mandated the appointment of an advocate to make specific argu- ments involving privacy and civil liberties. The Senate bill stalled at the end of 2014, carrying the debate into 2015 with some urgency. Section 215 of the Patriot Act, which authorizes electronic foreign intelligence surveillance activities, expires on June 1.

Proponents of the appointment of a special advocate argue that the nature of a non-adversarial process prevents the FISA courts from hearing opposing viewpoints on difficult legal issues, especially ones involving privacy and civil liberty interests. The Federal Judiciary is not so sure. In a letter to Congress last year, Judge John Bates, then director of the Administrative Office of the U.S. Courts (and a for- mer FISC judge) embraced the House legislation’s approach, which imparts to the FISA court the discretionary authority to appoint an advocate, a power the court already inherently maintains. Bates criticized the Senate’s approach, which directs the FISC to appoint an advocate in certain kinds of cases. “… [W]e are concerned that insert- ing into FISA court proceedings an advocate with a statutory mandate to make specific arguments would raise substantial legal questions and impede the courts’ work without furthering the interests of privacy or civil liberties,” Bates wrote. Those questions involve separation of powers and judicial independence considerations.

FBA Panel Session on the FISA Courts
These concerns and the broader challenge of balancing national security, privacy, and civil liberties will be spotlighted at the FBA Mid-year Meeting on Saturday morning, March 28, in Arlington, Virginia, when an esteemed panel of judges, lawyers, and academics will debate the pros and cons of altering the FISA courts and their operations. Consult the FBA website for further details.

Bruce Moyer is government relations counsel for the FBA. © 2015 Bruce Moyer. All rights reserved.

“It Ain’t as Bad As You Think” . ? . It Is As Bad As I Think, and Probably Even Worse


I keep thinking about that.  Being told that it really isn’t as bad as I think.  Hell if it ain’t!

When I was a little girl, we walked to school.  We would get there in the morning, and there would be the morning prayer.  Right after that, we all said I Pledge Allegiance to the Flag, and they played the National Anthem.  I started to school when I was four (4).  By the time I was in fourth grade, it was like the second elementary school.  They did not say the morning prayer, or play the anthem, but by golly, the whole time I was in school, we Pledged Allegiance to the Flag.  We were proud to be Americans.

Now, you get suspended for wearing anything with a flag on it.  The Ten Commandments, Pledge of Allegiance, and anything having to do with our natural heritage is bad.  Christians are bad.  Americans are bad.  Christian Americans must be very, very bad.  And who the hell decided all that?  That is bullshit.  Plain and simple, bullshit.  Since when have other people gone to live in another country, and was allowed to claim they were offended by the customs of that country, and the country changed for the outsiders?  Someone tell me when.  That is bullshit!  Plain and simple bullshit.

Seems like it began several years ago… SuperTarget in our area, told the GoodWill people at Christmas, not to come there any more.  Of course, after that, we never went back to that store, and it closed shortly thereafter.  For some reason, outsiders that had moved to the United States, were offended by Christmas, Nativity scenes, and GoodWill ringing their little bells at Christmas.  Those dedicated, hardworking GoodWill employees, trying to make a difference to others at a very hard time of year.  They never asked anyone for anything.  Just stood, ringing the bell and smiling.  It was tradition.  Christmas trees, nativity scenes, GoodWill.

So, in order to not to offend those, who are not from here, America changed? Bullshit.  I say, if our traditions offends you, you came into this country, you know you can leave the same damned way!  Every time I turn around, someone is explaining that such and such offends them.  Screw it!  I am offended by what people do in other countries, but I don’t move there, then expect them to change their country for me.  That is bullshit.  Plain and simple bullshit.

Now, they tell us that our forefathers were terrorists.  Do what?  So what kind of History lessons are they giving kids now a days?  Speaking of kids.  Since when does the govt. have balls enough to tell parents what they are or not going to feed their kids for lunch during school?  The other thing about kids, is that they belong to the community, not their parents?  Bullshit!  Plain and simple bullshit!  And these idiots put up with that?  I sure as hell am glad that my Mama was who she was.  She would have not only told them what horse to get on, she would have had them direct that horse, on out of the country.  And my Daddy, lo and behold, I am glad that he is not here to see this shit.  Daddy was gung-ho Marine.  He is probably rolling in his grave right now.

And someone wants to tell me, that it ain’t as bad as I think it is?  Bullshit!  Plain and simple bullshit!!!

DeKalb Commissioners Are On A Criminal Roll!


Updated: 4:13 p.m. Tuesday, Aug. 26, 2014 | Posted: 10:11 a.m. Tuesday, Aug. 26, 2014

DeKalb Commissioner Boyer could serve prison time

By Johnny Edwards and Mark Niesse

http://www.ajc.com/news/news/local-govt-politics/criminal-charges-filed-against-former-dekalb-commi/ng82z/

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Elaine Boyer in federal court sketch photo
Richard Miller
082614 Atlanta: This is a photo copy of an artist rendition of the federal court appearance of DeKalb County Commissioner Elaine Boyer and her court appointed attorney Jeff Brickman into questionable use of taxpayer dollars on Tuesday, August 26, 2014, in Atlanta. By Courtroom artist Richard Miller
DeKalb commissioner resigns amid spending investigation gallery
 

The Atlanta Journal-Constitution

A day after resigning from office, DeKalb County Commissioner Elaine Boyer announced in court Tuesday she would plead guilty to federal charges accusing her of two schemes to pocket tens of thousands of dollars from taxpayers.

Boyer, appearing calm and collected, told a judge she understood what she was doing, but it’s unknown whether she’ll serve time in prison.

U.S. Attorney Sally Quillian Yates said she will seek a prison sentence for Boyer.

“This is a serious crime. She’s cooperating now after she was caught,” Yates said. Boyer’s guilty plea “doesn’t wipe the slate clean.”

Boyer’s attorney, Jeff Brickman, said he’ll ask a judge not to sentence Boyer to prison, although she doesn’t have a plea deal in place. She was to be released without supervision after being photographed and fingerprinted. She could be formally arraigned within 10 days.

A criminal filing earlier Tuesday said Boyer authorized more than $78,000 in county payments to an adviser who submitted false invoices for consulting work but did nothing.

The adviser then funneled about 75 percent of the money, more than $58,000, back into Boyer’s personal bank account, the document alleges. She faced a charge of mail fraud conspiracy for that scheme.

The court documents didn’t name the adviser and no charges apparently have been filed against that person, even though he apparently pocketed about $20,000 in taxpayer money. The documents say Boyer used her share for personal expenses, including purchases at hotels and high-end department stores.

The Atlanta Journal-Constitution was pressing Boyer to explain nearly $90,000 in checks to consultants before she resigned Monday and admitted she had betrayed taxpayers.

Federal prosecutors also accused Boyer of wire fraud for using her county purchasing card to pay for more than $15,000 in personal expenses. From October 2010 to February 2014, Boyer made more than 50 such purchases, prosecutors allege.

The AJC in March revealed that she had been tapping county funds to pay for airline tickets, a ski resort vacation, rental cars and personal cell phone expenses, triggering the federal investigation.

Boyer will have to forfeit any proceeds or property she obtained from the schemes, prosecutors wrote.