Some denounce Obama’s homeowner rescue as
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.