Quote Originally Posted by lorne View Post
"Congratulations! You are eligible for a Home Affordable Modification."

I like these mortgage success stories because the bank confirms the dual nature of American currency. Lawful money vs private credit. The banker looks over the couples HAMP application and tax return and feels something is missing - where's the self-employed husband's income? Where's the Schedule C (business income)?

Husband responds with something like "I made money, redeemed lawful money, here's the profit & loss statements; but there is no schedule C. It's not included as taxable income on the Form 1040."

Banker: If it's not on the tax return we can't count it.

Translation: If it's not on the tax return as income we can't count it towards a loan of Federal Reserve credit.
Meaning: Only admitted Federal Reserve income counts as money towards a loan of Federal Reserve money.

In the end, the modified monthly loan payment was exactly the HAMP 31% of the wife's income. The bank did not count any of the husband's income ... it wasn't Federal Reserve income.

Well put. But instead of the husband responding, I think it is best to simply allow the bank attorneys to feel the pressure of law. They have to abide in the HAMP 2 guidelines, and at the same time they must abide in Title 12. So if they are worth their weight in salt, then the low mortgage payments come about.

MORTGAGE - Death Promise.

If only the wife has pledged DEBT/DEATH/DOUBT then that is all there is for traction. The bank of course wants to retain ownership over the home, allowing the wife use to keep up their property until the loan principal and especially the interest is paid off.

I had a great conversation yesterday. Love and redemption go hand in hand. Fear and debt (guilt) go hand in hand. The precepts of either are mutually exclusive ultimates. - meaning that they cannot both exist within system parameters at the same time. One cannot feel fear while in love. And one cannot feel love while frightened or guilty. Redemption cures debt. Debt only exists for the unredeemed.