The Short Keep

By Bill Martinez          Commentator and “citizen” FRANK LOUIS has the solution for the housing crisis, The Short Keep.”   Just what is the “Short Keep?” Louis answers that by saying, “Simple, let people who made down payments with traditional loan qualifications keep the property for what the banks are willing to “short sell” it to someone else! Why are there no modification programs, media people or political officials asking who lost actual money and who did not?”

Frank stated, “Think about it; many Americans just happened to be in the wrong place at the wrong time. For any number of reasons and circumstances, many Americans invested hundreds of thousands of dollars in the form of hard  earned savings, and bought real estate at what happened to be the peak of the most fraudulently over-valued real estate market in the history of mankind.”

“These people had good credit, in many instances invested as much as 30% of the fraudulently inflated values, only to discover the values were being bid up in an unprecedented wave of what are lovingly dubbed NINJA (No Income, No Job and No Assets) Loans. What happened in the wake of this fraud is history.”

However, this demographic of Americans goes unnoticed, unmentioned, and unrecognized as the Administration, the 50 states Attorney Generals, and the financial experts all “scramble” to come up with more and more Ponzi Schemes like the “Making Home Affordable” and HAMP which offer no solution to the crisis of the growing numbers of foreclosures and the lack of qualified buyers.

In many cases the people who made down payments on real estate in the 2004-2007-time period, made down payments that were often way more than the properties are currently valued for. None-the-less, they were set up and robbed! They bought faulty mortgages based on fraudulent appraisals and should get their money back!

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