In my last post I went into some detail about the banksters. Today I found this article that explains much more about what's going on in our country. This article was written in 1998. My how things have changed since then! I believe that understanding money is the most important thing we can do right now. We don't have much time left. Americans need to wake up and understand what has happened to us. Our country will soon be ruled by total dictatorship if we don't do something about this. Copy and paste the link below to go to the article.
http://www.justiceplus.org/bankers.htm
Monday, October 19, 2009
Sunday, October 18, 2009
The Banksters
I've written enough posts to help you fix your credit report if you click on the labels that apply to your particular problem. Now I'm going to start a little history lesson for those of you who don't know how we got into this mess in the first place.
We hear a lot of sound bites on the main stream media about the federal reserve bank and Ben Bernanke. Until two years ago I thought the federal reserve bank was a government operation. They print our money here in the USA. They are federal right? Wrong!! They are part of an international private banking cartel. They took on the name of "federal" to make us sheeple think they are part of our government. They are no more federal than "Federal Express."
Do you know why that is so wrong for America? It's because our constitution calls for Congress to coin money and regulate the value thereof. Back in the day when the constitution was signed, the only real money was gold and silver. That's why the congress shall "coin" the money. There wasn't paper money. Paper money is called Fiat currency. When someone came up with the idea of fiat currency it was because carrying the weight of the coins around was a burden. The early dollars for example would say "one dollar silver certificate" which meant you could take that piece of paper to the bank and trade it in for the actual silver metal that equalled one dollar. They could never create a new paper dollar if there wasn't actual metal to back it's value.
In 1913 the Federal Reserve act was passed and signed into law by president Woodrow Wilson. Congress gave up their right to coin money for America to a banking cartel that has no allegiance to any country. Their sole purpose in life is to make a profit.
In that same year the personal income tax act was passed. Until that point, individual people didn't have to fill out a 1040 form and pay taxes. They didn't have taxes withheld from their paychecks. But the international banksters who were now printing money for the government were charging interest. How were they going to collect the interest? Through each individual paying a personal income tax!
When our country was started it was never intended for a day of your hard labor to be taxed! Why? Because it was thought that if you worked 8 hours you were trading your labor for an equal amount of pay. No profit was gained from that. It was just a fair trade. Taxes were only supposed to be charged on profits from a corporation, not charged to people for trading their labor in fair exchange for pay!
I used to think that our income taxes were collected to pay for things that Americans need like infrastructure. But this personal income tax only goes to pay the interest that we owe to the international banksters for the money that they print out of thin air and loan to our government! That's right. They create paper money out of thin air. The top edge of a dollar says "federal reserve note" instead of saying "silver certificate" because there is absolutely no silver or gold to back a fed note. The only value the fed reserve notes have is the value that you and I imagine they have. You can't cash them in for any metal anymore. We think they have value because we have been propagandized to believe it ourselves. And what is propaganda but a means to psychologically manipulate a population of people?
You might ask "How can Americans fall victim to propaganda?" We have the first amendment in our bill of rights that states we have freedom of the press. The press reports the truth freely to the public right? It's their duty right? Wrong!! We haven't had a free press probably ever! The Rothschilds family bought out Reuters in the 1800's who then went forward and bought the Associated press. These huge media news outlets are owned by the international banksters. We will only get news reported to us as they see fit. The main stream media now a days are simply media whores. Your favorite journalist will only have a career if they agree to report what the banksters want reported.
I'm posting this today because you need to start to wake up. You need to understand why you are in debt and why it was always pre-planned for you to become a debt slave. You and I really are slaves to the powers that be. Your birth certificate has a federal ID number on it that you can look up on the stock exchange to see how much you're trading for these days. Did you know that you are only a commodity on the stock exchange?
I'd like for you to do a youtube search for a movie called "Freedom to Fascism" by Aaron Russo. Just go to www.youtube.com and type in the name of the video. Watch all the parts. Think about what it means for you and your loved ones.
I'm faced with the fact that "conspiracy" is a word we all sort of back away from. Especially if it's combined with the word "theory." The Conspiracy theorist is pictured as wearing the "tin foil hat." I'm only going to send you to places that are "conspiracy fact" not theory. Everyone needs to be able to research for themselves instead of taking my word for truth, the main stream media, politicians, Aaron Russo with this video I mentioned, etc etc. If you don't like to do your own research then this blog isn't for you.
I will leave you with a quote from the house of Rothschild. "Give me the ability to control a nation's money and I care not who makes the laws."
We hear a lot of sound bites on the main stream media about the federal reserve bank and Ben Bernanke. Until two years ago I thought the federal reserve bank was a government operation. They print our money here in the USA. They are federal right? Wrong!! They are part of an international private banking cartel. They took on the name of "federal" to make us sheeple think they are part of our government. They are no more federal than "Federal Express."
Do you know why that is so wrong for America? It's because our constitution calls for Congress to coin money and regulate the value thereof. Back in the day when the constitution was signed, the only real money was gold and silver. That's why the congress shall "coin" the money. There wasn't paper money. Paper money is called Fiat currency. When someone came up with the idea of fiat currency it was because carrying the weight of the coins around was a burden. The early dollars for example would say "one dollar silver certificate" which meant you could take that piece of paper to the bank and trade it in for the actual silver metal that equalled one dollar. They could never create a new paper dollar if there wasn't actual metal to back it's value.
In 1913 the Federal Reserve act was passed and signed into law by president Woodrow Wilson. Congress gave up their right to coin money for America to a banking cartel that has no allegiance to any country. Their sole purpose in life is to make a profit.
In that same year the personal income tax act was passed. Until that point, individual people didn't have to fill out a 1040 form and pay taxes. They didn't have taxes withheld from their paychecks. But the international banksters who were now printing money for the government were charging interest. How were they going to collect the interest? Through each individual paying a personal income tax!
When our country was started it was never intended for a day of your hard labor to be taxed! Why? Because it was thought that if you worked 8 hours you were trading your labor for an equal amount of pay. No profit was gained from that. It was just a fair trade. Taxes were only supposed to be charged on profits from a corporation, not charged to people for trading their labor in fair exchange for pay!
I used to think that our income taxes were collected to pay for things that Americans need like infrastructure. But this personal income tax only goes to pay the interest that we owe to the international banksters for the money that they print out of thin air and loan to our government! That's right. They create paper money out of thin air. The top edge of a dollar says "federal reserve note" instead of saying "silver certificate" because there is absolutely no silver or gold to back a fed note. The only value the fed reserve notes have is the value that you and I imagine they have. You can't cash them in for any metal anymore. We think they have value because we have been propagandized to believe it ourselves. And what is propaganda but a means to psychologically manipulate a population of people?
You might ask "How can Americans fall victim to propaganda?" We have the first amendment in our bill of rights that states we have freedom of the press. The press reports the truth freely to the public right? It's their duty right? Wrong!! We haven't had a free press probably ever! The Rothschilds family bought out Reuters in the 1800's who then went forward and bought the Associated press. These huge media news outlets are owned by the international banksters. We will only get news reported to us as they see fit. The main stream media now a days are simply media whores. Your favorite journalist will only have a career if they agree to report what the banksters want reported.
I'm posting this today because you need to start to wake up. You need to understand why you are in debt and why it was always pre-planned for you to become a debt slave. You and I really are slaves to the powers that be. Your birth certificate has a federal ID number on it that you can look up on the stock exchange to see how much you're trading for these days. Did you know that you are only a commodity on the stock exchange?
I'd like for you to do a youtube search for a movie called "Freedom to Fascism" by Aaron Russo. Just go to www.youtube.com and type in the name of the video. Watch all the parts. Think about what it means for you and your loved ones.
I'm faced with the fact that "conspiracy" is a word we all sort of back away from. Especially if it's combined with the word "theory." The Conspiracy theorist is pictured as wearing the "tin foil hat." I'm only going to send you to places that are "conspiracy fact" not theory. Everyone needs to be able to research for themselves instead of taking my word for truth, the main stream media, politicians, Aaron Russo with this video I mentioned, etc etc. If you don't like to do your own research then this blog isn't for you.
I will leave you with a quote from the house of Rothschild. "Give me the ability to control a nation's money and I care not who makes the laws."
Tuesday, July 14, 2009
Foreclosure
Foreclosures show up under the public record portion of your credit report and can remain on your credit for 7 years. This is one of the worst things that can happen to your credit but it's not the end of the world.
Many people are losing their homes now a days due to the poor economy and rising unemployment. So much noise was made about sub-prime loans when the mortgage market imploded that it was hardly mentioned what the trickle down effect would be for everyone else. Now we are seeing the effect nationwide. Some areas have been hit harder than others. Some people simply walked away from their homes after the homes lost so much value that they couldn't justify paying for them any longer.
They will take a big hit on their credit score. One can't predict how many points their scores will drop. Everything in their credit history file will be weighed and measured I'm sure. And how fast their scores will bounce back will be effected by how they handle their other debts.
As with any other event that lowers your credit score, having a foreclosure will effect your interest rates on credit applications such as credit cards and car loans. Expect to pay higher rates and fees while your scores are down and out.
Currently to get a conforming home loan you would have to wait three years after a foreclosure before being able to apply. (That's even more of a waiting period than the bankruptcy waiting period of two years.) Mortgage rules and regulations change without notice from time to time so keep that in mind if you think you can go through a foreclosure and then wait three years to buy another home. These rules may not apply in three years!
After the 7 year waiting period, contact the three bureaus and ask them to purge the negative information from your credit report. Always remember that if you don't contact the bureaus, the negative stuff on your report might linger around forever.
Many people are losing their homes now a days due to the poor economy and rising unemployment. So much noise was made about sub-prime loans when the mortgage market imploded that it was hardly mentioned what the trickle down effect would be for everyone else. Now we are seeing the effect nationwide. Some areas have been hit harder than others. Some people simply walked away from their homes after the homes lost so much value that they couldn't justify paying for them any longer.
They will take a big hit on their credit score. One can't predict how many points their scores will drop. Everything in their credit history file will be weighed and measured I'm sure. And how fast their scores will bounce back will be effected by how they handle their other debts.
As with any other event that lowers your credit score, having a foreclosure will effect your interest rates on credit applications such as credit cards and car loans. Expect to pay higher rates and fees while your scores are down and out.
Currently to get a conforming home loan you would have to wait three years after a foreclosure before being able to apply. (That's even more of a waiting period than the bankruptcy waiting period of two years.) Mortgage rules and regulations change without notice from time to time so keep that in mind if you think you can go through a foreclosure and then wait three years to buy another home. These rules may not apply in three years!
After the 7 year waiting period, contact the three bureaus and ask them to purge the negative information from your credit report. Always remember that if you don't contact the bureaus, the negative stuff on your report might linger around forever.
Chapter 7 Bankruptcy
When you file a chapter 7 bankruptcy it's a fresh start, complete liquidation bankruptcy for the most part. You would still have to pay your government backed student loans or any other money you owe government such as back taxes. (You still have to pay your child support too.)
Chapter 7 will show up under the public record portion of your credit report. It will remain on your credit report for 10 years from the date that you filed for bankruptcy. Then it can be purged.
You need to send a copy of your bankruptcy documents to the three credit bureaus so they can update your report to show which accounts were included in the bankruptcy. If you don't take this step, your credit report will not necessarily show that your past due and collection accounts were included in the bankruptcy and that will make it even harder on your credit scores.
From the date you file for chapter 7 until the date it's discharged usually takes a few months. Most are discharged in 3 months but I've seen some that took a few months longer. It will depend on your personal circumstances. But two years from the discharge date (not the filing date) you may be able to purchase a home.
There are currently two types of home loans that allow you to try to qualify this quickly. They are the FHA home loan and the VA home loan for veterans or active duty military. You will have to establish a new, good credit history in this two year waiting period to prove that your finances are back under control. You can't have anything else derogatory happen to your credit within this two year period. And of course you would have to show that you have a solid work history and enough income to support the proposed new house payment.
I read somewhere recently that "Capitalism without bankruptcy is like Christianity without hell." And that being true, there were more people who filed bankruptcy in America last year than those who filed in the entire decade of the 1960's!
While filing bankruptcy can be personally humiliating, it is no longer seen as the most horrible deadbeat thing a person can do. You will pay a price to be sure. After bankruptcy your consumer credit card rates and car loan interest rates will be much higher for the first few years than rates for those who have good credit.
With the economy the way it is and the increasing unemployment we can expect to see the bankruptcy filings increase as well. If you want to learn more about chapter 7 and other bankruptcies click the link.
http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/process.html
Chapter 7 will show up under the public record portion of your credit report. It will remain on your credit report for 10 years from the date that you filed for bankruptcy. Then it can be purged.
You need to send a copy of your bankruptcy documents to the three credit bureaus so they can update your report to show which accounts were included in the bankruptcy. If you don't take this step, your credit report will not necessarily show that your past due and collection accounts were included in the bankruptcy and that will make it even harder on your credit scores.
From the date you file for chapter 7 until the date it's discharged usually takes a few months. Most are discharged in 3 months but I've seen some that took a few months longer. It will depend on your personal circumstances. But two years from the discharge date (not the filing date) you may be able to purchase a home.
There are currently two types of home loans that allow you to try to qualify this quickly. They are the FHA home loan and the VA home loan for veterans or active duty military. You will have to establish a new, good credit history in this two year waiting period to prove that your finances are back under control. You can't have anything else derogatory happen to your credit within this two year period. And of course you would have to show that you have a solid work history and enough income to support the proposed new house payment.
I read somewhere recently that "Capitalism without bankruptcy is like Christianity without hell." And that being true, there were more people who filed bankruptcy in America last year than those who filed in the entire decade of the 1960's!
While filing bankruptcy can be personally humiliating, it is no longer seen as the most horrible deadbeat thing a person can do. You will pay a price to be sure. After bankruptcy your consumer credit card rates and car loan interest rates will be much higher for the first few years than rates for those who have good credit.
With the economy the way it is and the increasing unemployment we can expect to see the bankruptcy filings increase as well. If you want to learn more about chapter 7 and other bankruptcies click the link.
http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/process.html
Chapter 13 Bankruptcy
This bankruptcy is also called the wage earner plan. This plan allows you to reorganize your debts and make payments to the bankruptcy trustee for a period of 3 years up to 5 years in some cases. Your monthly payment amount will be determined by what your current monthly income is and how much you can afford to pay. The trustee will take your monthly payments and distribute them amongst your creditors.
Chapter 13 will show up under the public record portion of your credit report. You will need to send a copy of your bankruptcy papers to the three credit bureaus so that they can show that each of your creditors have been included in the bankruptcy. Otherwise, it might look like you have unpaid past due or collection accounts that are not part of the bankruptcy. This will hurt your credit scores even more if potential lenders can't see what was in the bankruptcy and what wasn't.
Make all your payments to the trustsee on time each month to re-establish a good payment history.
After making 12 months worth of on time payments to the trustee you might be able to purchase a home, providing that you haven't had anything else derogatory happen to your credit since filing bankruptcy. You would have to qualify for the new house payment and you would have to obtain permission from the trustee to purchase a home but I've seen this work out many times.
A chapter 13 bankruptcy will stay on your credit report for 7 years from the date you filed it and then it can be purged. To learn more about chapter 13 click the link below.
http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/process.html
Chapter 13 will show up under the public record portion of your credit report. You will need to send a copy of your bankruptcy papers to the three credit bureaus so that they can show that each of your creditors have been included in the bankruptcy. Otherwise, it might look like you have unpaid past due or collection accounts that are not part of the bankruptcy. This will hurt your credit scores even more if potential lenders can't see what was in the bankruptcy and what wasn't.
Make all your payments to the trustsee on time each month to re-establish a good payment history.
After making 12 months worth of on time payments to the trustee you might be able to purchase a home, providing that you haven't had anything else derogatory happen to your credit since filing bankruptcy. You would have to qualify for the new house payment and you would have to obtain permission from the trustee to purchase a home but I've seen this work out many times.
A chapter 13 bankruptcy will stay on your credit report for 7 years from the date you filed it and then it can be purged. To learn more about chapter 13 click the link below.
http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/process.html
Student Loans
You will pay the government what you owe them!!
Most student loans are government backed. When you don't pay them they will go into collection and eventually show in default status as an unpaid government debt. I'm not sure how other creditors treat them but for home buying purposes, you could not get a conforming home loan if you were in default over any government debt!
How can you get out of default status? You will have to bring the past due amount current and in some cases, after you have brought it current you will need to keep making your monthly payments on time for a year before they will allow you to be considered no longer in default. They can also take any tax refund you might have been due until your debt is paid in full. So either pay them in full or bring them current and keep them on time for a year to get them out of default.
If you owe the government money you can't even discharge it in a bankruptcy! It's that serious!
Most student loans are government backed. When you don't pay them they will go into collection and eventually show in default status as an unpaid government debt. I'm not sure how other creditors treat them but for home buying purposes, you could not get a conforming home loan if you were in default over any government debt!
How can you get out of default status? You will have to bring the past due amount current and in some cases, after you have brought it current you will need to keep making your monthly payments on time for a year before they will allow you to be considered no longer in default. They can also take any tax refund you might have been due until your debt is paid in full. So either pay them in full or bring them current and keep them on time for a year to get them out of default.
If you owe the government money you can't even discharge it in a bankruptcy! It's that serious!
Judgments
One section of your credit report shows if there are any public records against you. Public records would be things that have been filed in a court somewhere. If you've filed a bankruptcy it will show under public records. If you have a collection account that went for so many months and you just didn't or couldn't pay it, the creditor may have decided to sue you. If they went to court against you (whether you were in court or not) they got a judgment against you.
Judgments look much worse on a credit report than unpaid collections and you usually won't be able to purchase a home as long as you have an unpaid judgment. You will have to call the courthouse where the judgment is filed in order to pay this off. I'm not aware of a court allowing monthly payments on judgments. They want it paid in full.
Once a judgment is placed against you, then your wages can be garnished and in some cases your bank accounts can be seized. Better to pay those off as soon as possible!
In all my years as a loan officer I did have one case where a man had just recently found out he was a father. An old girlfriend had come forward saying he was the father of her child from 12 years ago. A DNA test was done and it determined he was indeed the father. The court found that he owed 12 years of back child support. They placed an immediate judgment against him and set up monthly child support payments, a portion of which went toward the back child support. Even though he had a judgment against him for over $50,000 in back child support, he was able to show the documentation needed to prove that he had been paying all those child support payments on time as ordered for about a year. In other words, my loan underwriter could see that he wasn't a deadbeat. So he is the only one I've known who had a judgment and was still able to purchase his home with a conforming home loan.
I'm aware that when the sub-prime loan business was booming, anyone with terrible credit could get a home loan that was non-conforming with terrible interest rates and terms. But I didn't originate sub-prime loans. My customers couldn't purchase a home if they had unpaid judgments or unpaid child support except for the one man I mentioned here.
Judgments look much worse on a credit report than unpaid collections and you usually won't be able to purchase a home as long as you have an unpaid judgment. You will have to call the courthouse where the judgment is filed in order to pay this off. I'm not aware of a court allowing monthly payments on judgments. They want it paid in full.
Once a judgment is placed against you, then your wages can be garnished and in some cases your bank accounts can be seized. Better to pay those off as soon as possible!
In all my years as a loan officer I did have one case where a man had just recently found out he was a father. An old girlfriend had come forward saying he was the father of her child from 12 years ago. A DNA test was done and it determined he was indeed the father. The court found that he owed 12 years of back child support. They placed an immediate judgment against him and set up monthly child support payments, a portion of which went toward the back child support. Even though he had a judgment against him for over $50,000 in back child support, he was able to show the documentation needed to prove that he had been paying all those child support payments on time as ordered for about a year. In other words, my loan underwriter could see that he wasn't a deadbeat. So he is the only one I've known who had a judgment and was still able to purchase his home with a conforming home loan.
I'm aware that when the sub-prime loan business was booming, anyone with terrible credit could get a home loan that was non-conforming with terrible interest rates and terms. But I didn't originate sub-prime loans. My customers couldn't purchase a home if they had unpaid judgments or unpaid child support except for the one man I mentioned here.
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