Comments on: Foreclosure Crisis Ready to Strike Lehigh Valley http://pennsylvaniabankruptcyinfo.com/foreclosure-crisis-ready-to-strike-lehigh-valley/ Because Creditors Pay For Legal Advice With Your Money! Sat, 28 Apr 2012 01:19:15 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: J. Kutkowski http://pennsylvaniabankruptcyinfo.com/foreclosure-crisis-ready-to-strike-lehigh-valley/comment-page-1/#comment-10 J. Kutkowski Wed, 17 Mar 2010 17:17:42 +0000 http://pennsylvaniabankruptcyinfo.com/?p=60#comment-10 So Jake Towne is the first contender to respond with anything other than "thank you for writing." I'm curious what other candidates have to say, but so far nothing. Its been almost a week. Jake Towne 1, Charlie Dent 0, John Callahan 0. So Jake Towne is the first contender to respond with anything other than “thank you for writing.” I’m curious what other candidates have to say, but so far nothing. Its been almost a week. Jake Towne 1, Charlie Dent 0, John Callahan 0.

]]> By: Jake Towne http://pennsylvaniabankruptcyinfo.com/foreclosure-crisis-ready-to-strike-lehigh-valley/comment-page-1/#comment-9 Jake Towne Sun, 14 Mar 2010 02:44:55 +0000 http://pennsylvaniabankruptcyinfo.com/?p=60#comment-9 Dear Mr. Kutkowski - Thank you for your note. While I will not comment on the timing, you are correct in your concerns on the residential mortgages. The gov't has silently been nationalizing the entire mortgage industry, and the scenario you have mentioned is certainly possible. I would point out that all the government interventions have done is postpone the crash... and make it that much worse. I am also highly concerned about the commercial mortgage markets (locally and nationally) and my gravest concern is actually tied to a currency (dollar) crisis, which will make everything else look like small potatoes. Banks are holding many of these mortgages on balance sheets at fictionally-high values, and FASB accounting rules are a subject best left for a separate post. We must also remember that fractional reserve banking is dead, which has created a time period where banks pretty much "print" or create whatever money they need (see Part 1 and 2 here) http://towneforcongress.com/economy/fractional-reserve-banking-in-pictures-part-12 I wouldn't mind discussing this with you in person to hear your thoughts, you appear to have done your homework. My initial thoughts on "fixing" the situation is that more government interventions may simply postpone and worsen the problem, but certainly sounding the alarm for fellow citizens is worthwhile. I can be reached at XXX-XXX-XXXX or jaketowne AT gmail DOT com. Tomorrow morning I will be in the Emmaus area and might be available in the afternoon. Thanks for reaching out. PS - I am a constitutionalist but also a former engineer. Article 1 Section 8 reads "To establish... uniform Laws on the subject of Bankruptcies throughout the United States;" As I am a chemical engineer, talking to someone in your line of work would be helpful. Dear Mr. Kutkowski -
Thank you for your note. While I will not comment on the timing, you are correct in your concerns on the residential mortgages. The gov’t has silently been nationalizing the entire mortgage industry, and the scenario you have mentioned is certainly possible. I would point out that all the government interventions have done is postpone the crash… and make it that much worse.

I am also highly concerned about the commercial mortgage markets (locally and nationally) and my gravest concern is actually tied to a currency (dollar) crisis, which will make everything else look like small potatoes.

Banks are holding many of these mortgages on balance sheets at fictionally-high values, and FASB accounting rules are a subject best left for a separate post. We must also remember that fractional reserve banking is dead, which has created a time period where banks pretty much “print” or create whatever money they need (see Part 1 and 2 here) http://towneforcongress.com/economy/fractional-reserve-banking-in-pictures-part-12

I wouldn’t mind discussing this with you in person to hear your thoughts, you appear to have done your homework. My initial thoughts on “fixing” the situation is that more government interventions may simply postpone and worsen the problem, but certainly sounding the alarm for fellow citizens is worthwhile. I can be reached at XXX-XXX-XXXX or jaketowne AT gmail DOT com. Tomorrow morning I will be in the Emmaus area and might be available in the afternoon. Thanks for reaching out.

PS – I am a constitutionalist but also a former engineer. Article 1 Section 8 reads “To establish… uniform Laws on the subject of Bankruptcies throughout the United States;” As I am a chemical engineer, talking to someone in your line of work would be helpful.

]]> By: pligg.com http://pennsylvaniabankruptcyinfo.com/foreclosure-crisis-ready-to-strike-lehigh-valley/comment-page-1/#comment-8 pligg.com Sat, 13 Mar 2010 20:10:51 +0000 http://pennsylvaniabankruptcyinfo.com/?p=60#comment-8 <strong>Foreclosure Crisis Ready to Strike Lehigh Valley | Pennsylvania Bankruptcy Information...</strong> Here it comes folks.  I've been warning about this since October and believe me, I want to be wrong. In April 2010, 50% of the adjustable jumbo-loans... Foreclosure Crisis Ready to Strike Lehigh Valley | Pennsylvania Bankruptcy Information…

Here it comes folks.  I’ve been warning about this since October and believe me, I want to be wrong. In April 2010, 50% of the adjustable jumbo-loans…

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