Art Fried Says - Hey Mr. Banker, There Was A Simple Solution!

May 6, 2010 - PRLog -- The facts have become crystal clear that in the last 8 years banks made tons of loans that were in clear violation of many laws!  Keep in mind these are the same people that hold YOUR future in their hands.

This fact raises a bunch of questions.  The first being the most obvious – WHY?  Pretty simple really, they were planning on selling the loan to Wall Street anyway so why worry about it.  Do the deal and get rid of it and it was out of sight ….. out of mind.  Laws or no laws.

If the banks had to hang on to these loans in their own portfolios would they have made the same stupid mistakes?   Of Course not.  They would have had to face their clients and actually talk to them.  No way would they want that to happen.  This way they could pass the buck and not have to deal with you.

So now we have this huge mess that the banks created and it raises still another question – Should we quit paying our mortgage?  The obvious answer would be no because even though they haven’t shown any morals themselves, it would be morally wrong.

Or Would It?  Let’s think about playing by their rules for a moment.  Are they playing morally straight with us?  Art Fried says… Let’s look at the facts:

•   The banks have had YEARS to help people with Loan Mods!
•   Those Loan Mods are a JOKE.  They never address the real issue which is principle reduction.  So anyone who is underwater with their loan, remains underwater regardless.
•   AND the banks are stingy with Loan Mods.  If they do grant one, it is typically for a trial period that only lasts a few months and the homeowner remains in limbo.
•   This is intentional policy, not just something that the banks made up hit and miss.
•   Their real policy is to bail out the banks and let the homeowner be damned!

Unfortunately for the homeowner that is what the real policy of the bank is….all for one and one for them!

SO would it be wrong to stop paying your mortgage and instead play by the “moral” rules of the bank?

Art Fried suggests if everyone just stopped paying their mortgage and insist on a principle reduction this whole mess would go away.

But if the homeowner plays by the rules, bows down to the powers that be and try to work with the bank’s “loss mitigation” department there will be no end in sight to this mess and it will continue for years to come!

Art Fried has an answer but you will have to stand up for what is “morally” right and start fighting back.  It is the best thing for you and for the country!

•   Quit kowtowing to the banks and instead find out just what laws they broke when they rammed your mortgage through.
•   Bypass those loss mitigator’s and go directly to the bank’s legal department.  They can and DO grant principle reductions.
•   After you work your butt off to discover their wrong doings…keep working it off and demand they give you a principle reduction to 90% of the appraised value AND a fair and equitable interest rate to go with it.

They made up the rules…….It is time we all played by them! [Art Fried]