AP – Junk Journalism
Some denounce Obama’s homeowner rescue as
unfair
Failure to Disclose – These junk journalists report “Rosa Valdez, a resident of Coachella, Calif., hopes it’s not too late for her family to be helped. The native of Mexico saved enough to buy a new $380,000 home in 2006 in the Lennar development of La Morada, where foreclosures are rampant. She fears her home could be next without federal help. “It’s our last resource,” said Valdez, who was turned down when she tried to renegotiate her loan.” There statement that she saved enough appears to be an assumption or is just misleading.
Public Records Available Show She Saved $100 - Sale information and trust deeds are available to the public. For full disclosure, reporters needed to check these documents to determine how much money this buyer would lose. Again they state, she saved enough to buy a home. Turns out it was a $100. These reporters failed to ask this buyer how much she saved to buy it. How much skin in the game does she have? Public Records
have a Rosa M. Valdez who bought a home from Lennar in the City of Coachella. The sale closed on
Feb. 24, 2006. Records show she paid $387,000 for the home. She was loaned $309,550 from Universal
American Mortgage Company and in a second loan subordinate to the first, another $77,350 from
Universal American Mortgage Company. Total amount borrowed, $386,900. If this is the same Rosa Valdez,
she saved $100 to buy a home of nearly $400,000 house. Many new home builders were paying closing
costs at the time, so her total cost to go from renting to owning was the cost of a moving van.
Buyer signed documents – This buyer signed notices that clearly state she was receiving one loan that involved a balloon paymentand another that was based on an adjustable rate mortgage.
Never Asked – “President Obama do you think that your increased taxes, necessary to finance the bail out,will cause others to lose their homes as they are forced to pay the government rather then their
mortgage?”
greetings there, i just stumbled your web portal via bing, and i would like to comment that you express awesomely well via your website. i am actually struck by the method that you express yourself, and the message is good. anyway, i would also love to acknowledge whether you would like to exchange links with my website? i will be more than happy to reciprocate and put your link off in the blogroll. looking for your reply, thanks and cheers!