[GPSCC-chat] What next re. Foreclosures?

Tue Oct 2 09:17:36 PDT 2012

Hello, All:

       The Foreclosure Summit Sept. 15 had roughly 50 people in the 
audience, and all indicated an interest in doing more.  What do you 
suggest we do next regarding foreclosures and related issues?

       Might there be interest in meeting to discuss this?  If yes, we 
could use suggestions for when and where.

       CJ is asking people to help organize "Foreclosure Town Halls".  
There will likely be a major wave of foreclosure activity before the end 
of this year;  see below.

       I'm currently working with PACT (People Acting in Community 
Together, pactsj.org), but they are currently focused only on the 
election.  Some of them have expressed interest in foreclosures. They 
may have something of their own in that area, but I don't yet know 
what.  I believe I will learn more after Nov. 6.

       I plan to try to contact Just Cause-Oakland (cjjc.org) and 
Project Sentinel (housing.org).  I spoke with them before the Summit.  
They seemed interested but not enough to get involved in the Sept. 15 
event.  I'm hoping to interest them in helping to plan a follow-on event.

        Might it be worth creating an email list for this group? It's 
easy to do using Google Groups.   If yes, what might be an appropriate 
name?

       There is a Google Group entitled "Communities United Against 
Foreclosure and Eviction" 
(https://groups.google.com/forum/?hl=en&fromgroups=#!forum/communities-united-against-foreclosure-and-eviction 
<https://groups.google.com/forum/?hl=en&fromgroups=#%21forum/communities-united-against-foreclosure-and-eviction>). 
This list had 24 posts in September, some and perhaps all of which 
describe activities in Chicago.

       Thanks,
       Spencer

-------- Original Message --------
Subject: 	Loan Mods Cancelled En Masse, Foreclosures Ramping UP
Date: 	Sun, 30 Sep 2012 23:43:41 -0500
From: 	CJ Holmes <cjholmes at cjholmes.com>
To: 	CJ Holmes <cjholmes at cjholmes.com>

BANK INSIDER NEWS BELOW.   [Foreclosure Town Halls 
<http://www.youtube.com/watch?v=Kd42AS45cRc&feature=youtu.be> 1m video, 
Press Release 
<http://hofj.org/virtualoffice_files/PR-FORECLOSURE%20TOWN%20HALLS.pdf>, 
Radio Announce <http://kiwi6.com/file/l8a3xlfej2>]]

Please forward this news to all county officials, supervisors, county 
attorneys, county recorders, everyone in your address book, all local 
radio and tv stations.

Copied below is an email solicitation for me, CJ Holmes, real estate 
broker, to sign up for an REO webinar with /absolutely scary news about 
the cancellation en masse of loan mods/.

This hit my email on 9/30/12 at 8:14pm:

Dear CJ,

Please make arrangements to attend one of the webinars listed below.  
You will be part of a group of select Sonoma cty real estate 
professionals who will qualify to apply as an REO partner for one , or 
several of the financial institutions who have been affected by the 
recent cancellation of federal mortgage debt relief programs . HAMP has 
officially cancelled 1 million loan mods, as foreclosure filings are 
beginning to surge once again with the economy heading into the fourth 
quarter. of 2012. The Treasury Department is reporting that 229,185 
permanent mods have already re-defaulted and that 16% of trial mods have 
quickly  gone back into foreclosure. These numbers are expected to rise 
significantly as the shadow inventory backlog becomes financially 
unmanageable for banks.

In addition, the recent mandate by the administration that Fannie Mae 
and Freddie Mac discontinue writing down underwater mortgages has paved 
the way for the initiation of a record number "strategic default" 
foreclosures. A documented  1.1 million homeowners have simply "walked 
away" from undervalued homes to avoid heavy IRS penalties that are 
scheduled to resume January 1, 2013.

These recent changes in legislation have prompted increased filings in 
Sonoma cty. Government controlled entities like Fannie Mae, Freddie Mac, 
and HUD, as well as many of the nation's largest banks are scrambling to 
dispose of REO inventories as quickly as possible.

It's news like this that inspires me to do everything possible to stop 
foreclosures NOW.

Counties need to immediately eminent domain ALL securitized loans and 
foreclosures of securitized loans and stop the banks from more 
fraudulently foreclosing.  If we don't stop the banks, they will 
foreclose the rest of the 40,000,000 securitized loans they have left in 
this country, and /everyone and our economy will be ruined/.

In the Foreclosure Town Halls, I will explain exactly how the eminent 
domain of mortgages can be done quickly at the county level strictly for 
public benefit (not private profit) and immediately halt all 
foreclosures on every one of those loans.

These loans can then be modified (my suggestion) to 80% loan to market 
value, with credit given for the original down payment, 2% interest 
rate, 30 year fixed, payments being made to the county.  Allowances can 
be made (payments deferred) for those that lost jobs until they become 
employed again.

This will keep owners in their homes, stabilize market values, allow 
real estate transactions to return to normal,  eliminate the tremendous 
fear of loss pervading our economy.   It will provide a tremendous 
revenue stream for our counties, and combined with a public bank, will 
provide all the credit for redevelopment, infrastructure, and 
refinancing the county needs without having to go to private investors.

The vacant foreclosures taken by eminent domain can provide homes for 
those that lost homes to foreclosure, again with loan terms as mentioned 
above to these new owners, providing the best restitution possible for 
the bank theft of their homes.

Foreclosure Town Halls are taking off like wildfire -- with 3 firm 
dates, 13 cities seeking venues and dates, and interest from 5 other 
states.  Get your date scheduled now.

Thanks,  cj

CJ Holmes, Founder

Home Owners For Justice

/The Most Trusted Name in Real Estate/
Real Estate Analyst, DRE 01234197

www.HOFJ.org

/(707) 578-5727/

/(707) 578-5873 f/

818 Mendocino Ave

Santa Rosa, CA  95401

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