Congressional Field Hearing on Foreclosure Crisis in Cleveland 6/16

I think so--this CoverItLive has some potential

0Via Email & Hand Delivery

RE: Congressional Field Hearing on Foreclosures t be held at Cleveland State University
By The Financial Services Housing and Community Opportunity Subcommittee June 16, 2007

Dear Congresswoman Maxine Waters:

As you are no doubt aware the Wall Street Journal has reported in recent days the alarming facts that certain congressional officials have received favorable loan terms by predatory lenders responsible in large part for what has been termed the “mortgage meltdown”.

We would respectfully request that you and the members of your subcommittee, individually participating in the proposed hearing in Cleveland, OH, make a public declaration on the record at the beginning of the hearing that they received no such loans to assure the public at large that the hearing will retain no taint of impropriety. In lieu of such a declaration, we ask that the hearing be delayed until such a statement on the record can be made.

Such a declaration would go a long way to allay the skeptics in Cuyahoga County who have had their fill of “help” from public officials who may have been the genesis of the mortgage debacle, as it exists today.

Thanking you in advance for your cooperation, I am

Sincerely yours,

THE TAXPAYERS COALITION FOR GSEs ACCOUNTABILITY

Richard Davet

216-451-6211

cc: Interested persons
Media

This is my first time on here so bear with me. I have a lot to say about the Mortgage crisis facing Ohioans. My Name is Paul, and after 42 years of being a Respected Citizen of Ohio. I now find myself finishing Chapter 7 Bankruptcy, being 61 I can't get a job even with a Bachelor of fine Arts degree, and a Associate degree. And the only Company that will hire me is Wall Mart. at 7.10 a hour for 16 hours a week. Now that Impressive isn't it. The rest I'm overqualified, or under qualified. So their it is I'm down the river without a paddle. And I'm sure others are facing the same dilemma, as I am. My problem is that I got caught up with a Mortgage broker in Canton inatily I dropped a 1 1/2 points on my house but didn't realize that I fell into Mortgage fraud scheme, where they sell your house to other lenders and go from a 30 mortgage, to a 3 year arm. And go from a Es- crowed Account that payed taxes, and Insurance to a No escrow Account, that didn't And my house payment went from 623.00 dollars to 982.50 a month, needless to say on a Retire pension of 1,500 A Month you can't pay that and eat, and pay medicine. Then I see on Lou Dobbs that are dear chairman of the banking Committee. Chairman Senator Cris Dodd and Senator Connrade got special treatment and VIP States on the loans on their houses. If that's not bad enough Senator Dodd told the hole Country on TV that he didn't know that he got special treatment and didn't know the amount of the loan, or the 2 percent that got him the loan! All along while talking to his buddy, who happened to be sitting across from him.Was the chairman of Country Wide.Senator Dodd is responsible for the jurisdiction over matters related to Banking and price controls over the banking Industry. I have lost everything I have worked for because of Mortgage fraud. Banking fraud,and Broker fraud and Appraisal fraud. Oh I could get a Attorney. That is if I had the money but under Bankruptcy I can't have over 400 dollars at any time or I face Imprisonment and the loss of the bankruptcy. Isn't it nice to live in America! Goodday.