PROGRAM SUCCESS – JANUARY 2009
PAGE 23
HOPE NOW…OR NO HOPE
FOR HOMEOWNERS
he foreclosure crisis continues into the start of 2009.
Have you wondered why more and more homeowners are being kicked out of their homes and
have to watch in complete humiliation and despair as their
belongings are thrown to the curb, while the mortgage
companies and investment firms get a free ride with a $700
billion dollar bailout? I and others, who are studying this
issue, have noticed how it is affecting minorities now, and
by design, how it will continue to negatively affect us for
many years into the future. My research highlights what
could be a continuing conspiracy by banks, mortgage
lenders and other money merchants that will keep the uninformed minorities lower on the economic scale than other
ethnic groups.
After recent headlines blew the whistle on these greedy
mortgage lenders and investors, they had to replace their
cash cow, the sub prime mortgage, with another scheme
designed to milk the uninformed out of their money, as
well as the equity in their homes. They gave this new
scheme a name, it’s called, the “Hope Now” program.
President George W. Bush and Secretary Of The Treasury,
Henry Paulson, pushed this plan into existence July 2008.
The federal government, who now controls both Fannie
Mae and Freddie Mac, proclaim the program is designed
to save the homeowners. Actually, it is designed to look
like it will save the homeowners. What it actually does, is
steal away the equity from the home, then keeps at least
50% of the