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The bailout money, not the originally requested 700 billion, will purchase mortgage backed securities.

Mortgage backed securities are kind of like high paying bonds that are secured using realestate.

The person who took out the mortgage makes payments.

The person who holds the mortgage receives those payments until the mortgage is paid off.

If the mortgage payer stops paying two things can happen:

The mortgage is renegotiated.

OR

The mortgage is foreclosed on.

The preferred situation is to renegotiate the mortgage and keep the pyaer making payments.

The US government will probably make money and at the least, will not lose money on the bail out.

Who made money on the Mortgages?

The brokers who wrote them made the most money. The big corporations who underwrote or purchased the mortgages LOST money.

Scummy mortgage brokers wrote bad loans to low income people and sold them to underwriters and investors, people with IRA’s and 401K plans.

Most of these mortgage brokers were Minority Owned businesses in low income areas who sold ARM mortgages with ridiculous payment terms. The kind of people Acorn works with.

Now morons are blaming the people at the ends, the borrower and the investor and are not blaming the mortgage brokers who, along with groups like Acorn, caused the problem.
Nope chi-guy, it is the mortgage brokers fault, the upper income scum bag taking advantage of poor people and the very good record of mortgage backed securities as investments.

Not the poor guy taking out the mortgage and not the "big" corporation buying a "vetted" mortgage as an investment.

The scum bag mortgage broker who wrote the crappy mortgage.

The scum bag who might get away free unless you demand their head on a platter.
Dig deeper Lu.

Most of the bad mortgages were written in lower income housing markets.

Follow the money and you will find about 60% of the mortgages were written by minority owned businesses.

That sucks because it gives the minorities, who were generally the people who were scammed the worst, a bad name.

These are predators who, much like drug dealers, are preying on their own.
True Bin laden, but, if the broker is a "good used car salesman" the underwriter is looking at how much they can make selling the mortgage.

And believe me, those mortgages were sold all over the world.

Thanks Bob O, this is one of the few posts of yours I have appreciated. Now you will probably edit it
Lehman did buy a scum bag mortgage broker, but, that represented a small percentage of the problem and the problem was still with the broker, not the borrower or the investor.

Nice to know you think people who have IRA’s, pension plans or 401K plans are greedy. Billions of people who have money invested in everything from bank accounts to pension plans lost money on this.

All those greedy people working for a living.

I’m right there with you – except your mysterious claims that most of the brokers were minority owned businesses. that is not an allegation I’ve heard before. The lending was predatory and did concentrate on low income recipients (typically minorities), but I’m not willing to agree that the brokers were also minorities without some more information.

The new state telangana which is being formed bcos of decades of negligence by politions, expolitation by andhrites and backwardness should also loose hyderabad as its capital which is the only big city in the region and livelyhood for whole telangana? dont u think if it is made a U Territory, no one will profit except realestate brokers? The andhrites after exploiting and depriving the people of telangana of opportunities will also deprive them of the only city they are dependent on. There is not even a single city in telangana (other than hyd) which is as big as even vijawada. up on that they have Vizag a city much biger than vijawada. keeping all this in mind Don’t you think its wise to keep hyderabad in telangana?

Ideally Hyderbad will have to be with Telangana if at all it forms, because it is surrounded by the Ranga Reddy district which comes in the Telangana region.

The following points in your question needs to be debated:

1. Negligence of politicians: What were the MLAs and MPs elected from the Telangana region, irrespective of their party doing all this time? If development was a serious issue and if they were unable to address the issue, why did they not step down accepting incompetence?

2. Exploitation by Andhrites – I don’t agree to the concept of one group exploiting the other. India is a free country and please compete and prove yourselves. The same is the reason I object the MNS and SS ideology. Don’t blame others for ones drawbacks.

3. Hyderabad as UT- I guess Hyderabad has a cosmopolitan population with migrants from across the nation and if regionalism sets in, following division, none of them will be willing to forsake their hard earned money and property through decades. Making Hyderabad a UT gives some sense of security to these people.

4. Hyderabad with Telangana – Maybe Hyderabad can be with Telangana, provided there is an assurance on the security to the lives and property of other too.

5. Real estate brokers – Regarding the real estate group, I am not much aware, may be you are right.

The Aftermath Inc. – An Indian Citizen.

agent ref me to a loan broker his father, I live in cali &HE removed contigencies knowing we didn’t have a loan (We didnt know this). we had to put 5% down for loan, Then our loan guys calls us 10 days before close asking us for 3% more & with an outrages APR or else I’ll lose my 10k in escrow. We had to leave work and try to get another loan from Bof A which we got with out anymore money other than the 5% we may not close in time & will be fined by the seller. my agent (was a friend) knows that my son was diagnosed w/? i have been unfront with them from begining to end i told them everything my credit & financial situation and they both said no problem. Before I placed a bid we asked our agent only place it if we are confrimed with the loan becuase we have no money to put down and the little that we do we need it to make the renovations the house needs. I want to fire agent can i (no buyers agency) he told us not to worry that he promises that the money we put down we will get back
i live in L.A i never had a loan and my agent new this but we never knew this everytime I emailed agent to get status he never respnded he would however call from time to time but never with any answers we told him not to remove cont. until he was certain we had loan. we have put up 10k earnest &22k loan (sorry confusing but i dont hve much characters 2 wrk w/) his broker said we are fine since we managed to get another loan from BofA. Contract stated that we needed 20k down, when we seen this we advise our agent to pull since we did not have that money and the money that we did have was to make repairs that it desprately needs, we told him if we have to put more than the 10k earnest money we put down then we dont want to continue he said not to worry that he promise that his father (loan brker) will use a portion of the loan as the 20k , as you can see he couldnt even get us a loan. This house needs wrk my son needs surgery&cant recoop in this house we want to walk & 4get the 10k

what part of CA are you in?
Not quite sure why I got a thumbs down for this question regarding your issue.
I was only asking in hopes that you might be in an area where I could put you in contact with someone who could help you.
I have family in CA in the real estate industry and was hoping to lend a helping hand.
It turns out that you are way too far north. I am sorry that I was not able to help you. I was hoping that I could.
I would really appreciate that the thumbs down be removed. I was hoping to do better than just answering your question myself, I was hoping to connect you with someone in this field. I really hope that this all works out for you. I will pray for you and your family. I am very sorry that this has happened to you.
If I were in your shoes, (I don’t imagine that you have extra money to hire an attorney), I would call a different real estate agent (one that is very well known with at least 10-15 years of experience) and ask them their advice. If there is something that you can do, they will be more than happy to take you on as their client.
Again, good luck to you.
P.S. Call 1-800-200-Lend or Lend America.com
They might be able to help

Hey I did a little research for you,
I hope this helps
LOS ANGELES CAMPAIGN AGAINST PREDATORY LENDING

The Los Angeles City Housing Department has unveiled an aggressive public outreach campaign, "Don’t Borrow Trouble," to raise awareness of the growing problem of unscrupulous lenders who prey on unsuspecting homeowners and homebuyers. The campaign includes ads, posters, other printed materials, public service announcements in English and Spanish, a toll-free hotline, (800) 477-5977, and a Web site, http://www.lacity.org/lahd/.

The aim is to educate borrowers about danger signs of lenders offering seemingly attractive loan terms that can result in the loss of the home. The "Don’t Borrow Trouble" program also includes an affordable loan program called HELP (Homeowners Equity Loan Program), to assist low-income homeowners with high-interest loans to refinance and rehabilitate their properties. Provided by Los Angeles Neighborhood Housing Services in partnership with Wells Fargo Home Mortgage, HELP will assist borrowers who may have already fallen victim to predatory lending practices. For assistance, homeowners can phone toll-free (888) 89-LANHS. Los Angeles is one of the twelve pilot cities chosen by Freddie Mac for this campaign.

My agent ref me to a loan broker who was his father, I live in cali & he removed contigencies knowing we didn’t have a loan. we had to put 5% down for loan, Then our loan guys calls us 10 days before close asking us for 3% more & with an outrages APR or else I will lose my 10,000 in escrow. We had to leave work and try to get another loan from Bof A which we got with out anymore money other than the 5% we may not close in time & will be fined by the seller. my agent (was a friend) knows that my son has been recently diagnosed with a cyst inbetween his eye&brain and could possibly be cancer, I have been unfront with them from begining to end i told them everything my credit & financial situation and they both said no problem. Before I placed a bid we asked our agent only place it if we are confrimed with the loan becuase we have no money to put down and the little that we do we need it to make the renovations to the house since the house needs some fixing. I want to fire my agent can I

http://answers.yahoo.com/question/index;_ylt=AjwRMC_QZip2mzEx6PJyIovsy6IX;_ylv=3?qid=20080217225845AAluiDZ

Things must be definetly done different in texas
An agent is "responsible" to their clients. They have a duty, called a "fiduciary duty." This means the agent is responsible to act in the best interests of their client. A car salesman does not have to act in your best interests — they just have to sell the car. It isn’t that simple for real estate agents.The Buyer Agent owes fiduciary duties to the Buyer under this relationship and agreement, including fidelity, honesty, dedication to purpose, acting in the Buyer’s best interests, etc. when is it in the clients best interest to have the contigencies removed when a loan is not in place. He removed contigencies knowing you did not have a loan call an real estate attorney. I am sure that was not even the tip of the iceberg of the things he did wrong

my landlord hired a realestate broker to find tenants for her (us), she later fired him, later when I went to him to get some paper work to prove that we had use of certain amenities that she was now denying us access to, he confessed to me that she told him to take our security deposit as his finders fee, I am living here, but moving because she breached the rental agreement by denying us access to the amenities, but I know that she no longer has my security deposit. is this fraud? shes in Chapter 13 wouldnt the judge want to know why shes saving back 100 dollars a month, that was what he told me she said she was gonna do to pay back for using our deposit.

She is absolutely doing something illegal. This is conversion and she could be fined or lose her license.

I sat in this groop session for a month after I overdosed and was in the psych ward and all these women there would complain the whole time, Men have it so easy, they are arrogant, blaj blah, evryone would nod thier head, Then they would talk about all thier abuse, then when me and the two other guys would have to share about our abuse or whatever crap,,the lady shrink would just say we have to ‘Get real’ or that we are lazy, meanwhile some of these women in there were 30 year olds living at home some who abused muliple drugs and even some who were prostitutes, I am a succesful realestate broker and the other guy was a attorney, Isn’t it possible that women and men are equally prone to emotioal problems, I don’t see how a womens problems are automatically more valid then mine, but I do think psychiatry, in general takes a womens side

I think it is a science dedicated to the medicalization of women, if that’s what you mean. I hardly call that feminist. More like trying to cure women from being women. Okay, maybe feminazi.

But what was a successful RE broker and an attorney doing in that particular group? I would think you’d have pursued other options.

Heck, I wouldn’t have fit into that group, and I’m a woman. Sounds like it was led by a social worker and they are notorious for classifying people based on "victim-hood." It’s probably more about that than gender.

AND: Psychiatry is more focused on getting you well, not on your past. Psychotherapy does more of what you speak.

Isat in this groop session for a month after I overdosed and all these wome would complain the whole time, Men have it so easy, they are arrogant, Then they would talk about all thier abuse, then when me and thetwo other guys would talk about our abuse or whatever crap,,the lady shrink would just say we have to ‘Get real’ or that we are lazy, meanwhile some of these wome were 30 year olds livig at home some who abused muliple drugs and even some who were prostitutes, I am a succesful realestate broker and the other guy was a attorney,

why does psychiatry kiss up to women
and yes i am drunk right now

Honesty is the path to redemtion. However, I can understand you reaching out for help while under the influence of chemicals, I am certain you would agree that treatment is effective only when you are sober and have the will and desire to be able to control whatever substances you may ingest instead of being controlled by them. In so far as your assesment of treatment sessions dominated by women, including the therapist, is concerned I feel men must admit to and accept two realities: Women are smater and stronger than men and have a mysticke which is at its worst when they feel less than what they can/should be; and, that men have dominated women for the last eight thousand years.

I have leased a home for almost 2 years in the middle of the lease the first management company informed me that the owners realestate broker emailed her telling her that because of financial difficulties he would now be managing the properties so all securities and contracts were switched over to him the acctual owner resides in europe and i have never met or spoke to him the problem i have is that i never directly recieved a phone call or letter from the owner saying to give him the rent and now i hve recieved foreclosure papers i know i must continue to pay rent but legally who gets it ? what if the owner doesn’t know his broker is collecting the money and he just abandond the mortgages its been 6 months since his last payment on the loan please help i just don’t want my hard earned money going in the pocket of a con artist

Pay whomever your management company told you to pay. That way you are covered. You must pay your rent to that person however until you actually get notice to vacate the property, regardless of whether or not the house is in foreclosure.

I’ve saved a property from tax sale 3 days before it was to be sold, and if those tenants hadn’t been paying their rent, they’d be very unhappy.

howie is going to marry the woman who was the webmaster for bsb in 2000, ugh she is so ugly and from what fans say who met her a real witch, howie is a multimillionaire i hope he plans on having a pre nup or he could end up getting taken, she is non famous and works as a realestate broker.

I guess Howie must be seeing things that all the fans don’t see, he is attracted so much that he wants to marry her.

Maybe it’s all about jealously from those who wish ,THEY were in her shoes Hmmmmmmmmmm?? ♥

what is the average income of real estate salesperson and realestate broker

you can’t go by averages, because they include people with Realtor licenses that aren’t active.

however, as a realtor, you should expect to make no less than 75k/year. Many make WAAY more than that, like 75k for selling just ONE house.

Also, if you plan on going in to this line of work, make sure that you’ve made arrangements to not make ANY money for at least 6 mos. Whether it’s living with parents/friends/significant other, or if you’ve saved up enough dough. It can take months to sell a single home (especially in today’s buyer’s market), and then at least 30 days to close, when you’d get your cut.

The thing about a commision only sales plan, you get out what you put into. If you are resourceful, good with words, make friends easily, can follow a procedure or create one for yourself, then you should do very well.