16 CFR Parts 317 and 318: Mortgage Assistance Relief Services Rulemaking #542309-00004

Submission Number:
542309-00004
Commenter:
DENNIS MURPHY
State:
OH
Initiative Name:
16 CFR Parts 317 and 318: Mortgage Assistance Relief Services Rulemaking

FROM THE NIGHTMARE WE ARE STILL LIVING I WOULD THANK THE COMMISSION FOR THIS OPPORTUNITY TO ENLIGHTEN THEM ON ALL THE RULES WE FEEL WERE BROKEN. WE TRIED TO WORK WITH NACA, NCRC, SAVE-THE-DREAM, DAYTON HOUSING AUTHORITY AND LAST HOPE FOR TWO YEARS WE TRIED TO SAVE OUR HOME FROM FORECLOSURE (CITIFINANCIAL-SPS-TRUMANN-JP MORGAN CHASE) ONE ENTITY PER THEIR LAWYER REP. NOT ONE AGENCY HAD CLOUT ENOUGH TO TAKE ON A SIMPLE REQUEST FOR LOAN MODIFICATION. SO START THERE. IF OBAMA AND THE SENATE TAKE BRIBES FROM THE VERY BANKS PUTTING WE THE PEOPLE OUT ON THE STREETS THEN WE THE PEOPLE NEED AN AGENCY TO TAKE THAT CRIMINAL ACTIVITY OUT OF THEIR LEGISLATIVE HANDS. MAKE YOUR RULES SIMPLE LIKE THE ORIGINAL CONSTITUTION. 1. FLAT FEE FOR LOAN MODIFICATION/REFINANCING SHALL NOT EXCEED 6% OF LOAN VALUE WHICH IS TAX DEDUCTIBLE BY THE OWNER OF HOME. 2. HOME IS SINGLE DWELLING WHERE OWNER AND HIS/HER FAMILY LIVES, PAYS TAXES ON, SLEEPS 365 NIGHTS A YEAR. HOME IS WHERE IRS COMES LOOKING FOR TAXPAYER WHEN THEY HAVE A QUESTION. 3. THE MORE ILLEGAL SHENANIGANS PULLED IN FIRST MORTGAGE THE BIGGER THE PENALTY FORFEITED BY THE FINANCIER'S EQUITY IN HOME AT TIME OF NEED TO MODIFY/REFINANCE. 4. HOMEOWNER MUST PROVE BY DOCUMENTS KEPT THEY HAVE TRIED TO ADJUST THE MORTGAGE HOLDERS ATTITUDE INTO SEEING THAT AN UNFORSEEN OCCURANCE HAS BEFALLEN THEM. 5. REASONABLE RATED MORTGAGE INSURANCE MUST BE BOUGHT IF REFINANCING/MODIFYING LOAN AND IT'S TOTAL COST ONE AMOUNT BE INCLUDED IN REFI/MOD TOTAL NOT TO EXCEED 6% OF HOME VALUE AT TIME OF REFI/MOD. 6. REFINANCE/MODIFICATION AMOUNT CANNOT EXCEED TRUE VALUE OF HOME. NO PENALTY OF LATE FEES, INTEREST SHALL ACCUMULATE AFTER HOMEOWNER CONTACTS IN WRITING THE LOAN FINANCIER OR SERVICE COMPANY THERE IS A PROBLEM AND A NEED NOW TO REFI/MODIFY. COPY OF WHICH MUST BE RECEIVED BY NEUTRAL PARTY THE FEDERAL TRADE COMMISSION AND SENT BY RETURN RECEIPT BY USPS. 7. ANY SECOND MORTGAGE, HOME IMPROVEMENT LOAN ETC CANNOT GO INTO EFFECT NOR CAN THE HOME BE USED AS COLLATERAL UNTIL FULL AMOUNT OF PRIMARY LOAN IS PAID. 8. FINANCIERS ARE NAMED TO HOMEOWNER AT TIME OF CLOSING AND CANNOT CHANGE DURING THE LIFE OF THE LOAN AS THE HOMEOWNER CANNOT CHANGE. SINCE THEY KNOW HOW TO CONTACT THE HOMEOWNER SO SHALL THE HOMEOWNER KNOW WHO AND HOW TO CONTACT THE MORTGAGE NOTE HOLDER. 9 THE ENTITY THAT IS MODIFYING/REFINANCING MUST PRODUCE THE ORIGINAL CONTRACT IN ITS ENTIRITY WHETHER THAT BE ONE PAGE DOCUMENT OR ONE HUNDRED. THE ENTITY MUST KEEP DOCUMENTS UNTIL LOAN IS PAID IN FULL. THE ORIGINAL WILL BE PROVIDED WHEN ASKED FOR AND FEE OF 10$ PAID. OTHERWISE THE ONLY LEGAL COPY WILL BE GIVEN THE HOMEOWNER AND NEUTRAL PARTY THE FEDERAL TRADE COMMISSION. 10. IF BANKRUPTCY JUDGES CANNOT BE TRUSTED TO SEE A MORTGAGE IS FAIR IN VALUE,INTEREST, AND LEGAL, THERE MUST BE AN AGENCY NOT ALLOWED TO BE LOBBIED, POLITICAL PARTY STRONGARMED, NOR COERCED BY ANY OTHER AGENCY INTO CHANGING ITS LAWS OR FEES WITHOUT WE THE PEOPLE VOTING ON THEM. FINALLY AS A COMMENT I WOULD LIKE TO REMIND OUR GOVERNMENT THAT WE ARE NO LONGER SWAYED BY WORD OR SMILE BUT BY ACTION. IF THE GOVERNMENT THINKS THEY CAN RUN EFFICENTLY WITHOUT THE TAXPAYERS SUPPORTING THEM OR THE TAXPAYERS POCKETBOOK ISN'T NEEDED TO FUND THEIR PROJECTS THEIR SALARIES OR DEFICITS THEN EVENTUALLY THE GOVERNMENT WILL TOO LATE REALIZE THEY WERE THE CAUSE OF AMERICA'S FAILURE IN THE WORLD. I THOUGHT WE HAD THE RIGHT TO LIBERTY? I THINK HOME, CLOTHES, FOOD SHOULD BE A LIBERTY EXPECTED BY ANY CITIZEN THAT IS TRYING TO WORK, PAY TAXES, AND SURVIVE. ESPECIALLY A CITIZEN OF THE UNITED STATES OF AMERICA! CAN'T WORK IF I DONT HAVE AN ADDRESS, SS#, ABILITY TO COME IN TO WORK WITH CLOTHES ON, FOOD IN MY BELLY. I CHARGE THAT ANY NECESSITY WHETHER IT BE ELECTRIC, PHONE, FOOD, CLOTHES, HOME SHOULD NOT BE OVERPRICED. THE SHAREHOLDER OF ANY "NECESSITY" LABLED STOCK CAN NEVER HOPE TO EXCEED A PROFIT BUT OF THE 5% SET INTEREST RATE MONTHLY.