Every negative equity homeowner is legally entitled to a similar modification just like the 3.6 million modifications already issued to avoid the investors negative equity loss with the Unitedinprosperity.org solution, the capitalistic "silver bullet" for the housing industry and the economy. The solution can only be accomplished if We, the people, unite as one for change we can believe in by demanding that all taxpayer funds used for supplementing, loaning, paying or guaranteeing Wall Street's capitalistic losses are immediately stopped returning capitalism, it's profits and losses to both Main Street and Wall Street.
Sign the Unitedinprosperity.org petition demanding that the State Attorney Generals' enforce the legal consequence of issuing over 3.6 million modifications that set an industry wide precedent of a modiication instead of a negative equity foreclosure
Why?? All negative equity homeowner's BECAME legally entitled to a modification when Wall Street made a capitalistic decision to AVOID the investor's capitalistic guaranteed losses occurring by changing the standard mortgage clause and operating practice of "Don't pay be foreclosed on" to "modify instead of foreclosing" for over 3.6 million negative equity homeowners. According to the rule of law and decent basic capitalism, the change was supposed to be applied across the board to include all similarly situated parties with a consistent and similar financial incentive or a breach of contract occurred as well as the implied and reasonable reliance that Wall Street would operate in good faith and fair dealings.
Instead misrepresenting, lies (fraudulent advertisement) about modifications being about "affordability" were told which is not supported by the actions of the financial industry or the fact that the investors WILL EXPERIENCE the guaranteed financial loss from the DIFFERENCE between the higher outstanding mortgage amount(s) due and the lower distressed sale price ON EVERY foreclosed negative equity property (a positive net present value test result, +NPV)
* roughly 630,000 modifications were issued for affordability purposes under the governments, HAMP program but only to
negative equity homeowners, if the modification was really about affordability why would a +NPV be needed?
* a total of over 3.6 million modifications were issued to negative equity homeowners as evidenced by the requirements of a +NPV,
if the modification was about affordability why wasn't all modifications issued within the HAMP affordability guidelines,
especially when the taxpayers were paying for the reductions in the mortgage payments to occur?
* all 3.6 million modifications issued were to avoid the investors negative equity loss, in fact no modification was issued that did not
have a +NPV test showing it was financially beneficial to the investor to modify instead of foreclosing losing a guarantee portion of
capital: proving not only the mortgage clause was changed 3.6 million times but the reason was to avoid the investor' loss.
* every negative equity foreclosure will cost the investor to lose the SAME mathematical result of the negative equity
difference regardless of the CURRENT net present value test SCORING system of the homeowner's reduced income, credit
history, high, low or affordable ratios', mortgage history, use of credit cards or loans and their payment history or how many of the
neighbors defaulted to predict, or basically guess which negative equity homeowners will continue to pay ANYWAY and who
MIGHT eventually default to decide the outcome of whether a modification is offered or not. All the imposed stipulations are for
Wall Streets' benefit by financially harming the majority of negative equity homeowners with the intended goal of restricting
or limiting the same financial advantage of a modification to protect Wall Street's anticipated profits.
Conclusion: Modifications are issued to avoid the investors' negative equity loss or there would be no need for a positive net present value test.
The legal consequence of physically issuing over 3.6 million modifications set a legal PRECEDENT reaffirming the entitlement of all similarly situated homeowners to the same change in the mortgage clause and/or operating procedure if the investors mathematical guaranteed negative equity loss (difference) is avoided with a modification, as the conclusion supports.
*Sign the Unitedinprosperity.org petition to stop the "misrepresentation" that affordability is why a modification is issued allowing the holdings of the government and Wall Street to violate the principle of "honest and good faith dealings" using "predatory mortgage servicing practices" and "unfair and deceptive business practices" by taking "undue financial advantage" of similarly situated (negative equity) homeowners who are paying or can afford to pay by restricting or denying them the same moral, ethical and legal entitlement of a modification violating numerous consumer, banking, civil, tort and business laws to maintain Wall Street's profits.
* Sign the Unitedinprosperity.org petition to create a taxpayer free six billion dollar monthly stimulus.