2023 Reverse Mortgages may gouge qualifying homeowners one to two thousand dollars a month in EXTRA Interest rate Charges, Destroying a retiree's Home equity reserves in record time, while Congress does nothing but investigate each other.

Over the past several years preceding 2022, many homeowners were able to refinance their homes at interest rates between 3 percent to 4 1/2 percent, saving the homeowner thousands of dollars a year in interest rate charges! Homeowners looking forward to using their built up home equity when they retire via a reverse mortgage are in for a very rude awakening. 

 

Reverse Mortgages require paying off the existing first mortgage, and then replacing the first mortgage with a reverse mortgage that may have an interest rate that is significantly higher. The result can be an instant increase in interest rate charges that can easily cost an extra ONE  to TWO THOUSAND DOLLARS A MONTH in lost equity per month!

 

Congress needs to get their head out of their arses and pass legislation CAPPING interest rate charges on Reverse Mortgages at 4%, with a first mortgage interest rate match if the homeowner has a lower first mortgage interest rate than 4%.

 

Reverse Mortgage origination fees also need to be capped at costs no more than 6% of the total value of the home, or $6,000 dollars, whichever is the lower amount.

Congress needs to pass revamped Reverse Mortgage rules immediately in 2023 or we will witness the biggest Reverse Mortgage swindle in 2023 and beyond at the expense of our retirees.

 

 

 

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Update: This offer has ended. How I can offer investors 15 times higher interest rates (8%) than the Banks are presently giving (0.6%) in July of 2021. This Offer has officially ended.

Update: Feb. 16, 2023. This offer has officially ended. 

 

I have an opportunity to share $25,000 dollars to investors so I can save $15,000, otherwise I will lose $40,000 because of Reverse Mortgage rules. If I wait until August of 2023, I will save $40,000 that will otherwise go to a banker or private money funder.

Besides the investor receiving quarterly dividends based on the 8% annual rate, the original investment amount will be paid back by Oct. 05, 2023 by law, due to the Reverse Mortgage rule that anyone listed as a payee on the mortgage deed must be paid off. Yes, a guaranteed 8% investment and you will get your original investment back. The banks offering 0.6% do have in house investment advisors who are ironically not connected to the bank, and do NOT guarantee their investments.

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Update, February 16, 2023. In retrospect, I don't think Derek Chauvin was racially motivated to do what he did to George Floyd. It was Chauvin's similar handling of a teenage boy who was over six feet and well over 200 pounds a year or two prior that influenced Chauvin's actions against George Floyd. Chauvin had done the same thing to the teen that Chauvin did to George Floyd, and the boy did not die, although the boy did lose consciousness at one point but then came to. Additionally, the recent spate of fentanyl deaths also points to George Floyd possibly swallowing fentanyl to hide the evidence, meaning he might actually have died no matter how he was treated. HOWEVER, Chauvin's inability to listen to the crowd and Floyd's plea for mercy prior to his death is still a haunting scene. Chauvin was scapegoated and I was one of those who believed the worst of Chauvin. I believe Chauvin was guilty of gross incompetence and manslaughter, but not murder-1 as I had previously advocated. End of Feb. 16, 2023 update.

George Floyd Evening News Update.

My Petition for Murder-1 and Murder-2 charges as additional options to the Manslaughter and Murder-3 charges that were originally charged and, after my Petition had begun, were changed to include Murder-2.


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Alessandro Machi, 60 Minutes Lesley Stahl reluctantly reveals going to t...

I'm begging you to watch this. If you agree, please share.

Lies the Media keeps repeating about Myles Garrett.

Forbes Article Proves Donald Trump could face Income Tax Fraud Charges and Billions in Penalties if Trump loses the 2016 Presidential Election to Hillary Clinton.

Update: June 13. 2021. I would have updated this site sooner but for a long time I could not access it, then I lost a column and it was a mess, still kind of is". Democrat Centric California Politicians do not care about Seniors. My Mother died as a direct result. I am NO LONGER a life long Democrat. I voted for Hillary Clinton in 2016, Donald Trump in 2020.

I am a Trumplican. Our mainstream media is controlled by those who think like they are 12 years old. I seriously wonder if the power brokers at the top have handed the media over to their 12 year old children.

End of update.

Oh, leave Trump alone, anything Trump does, is because someone else did it before him. So quit making him out to be the guy who does things wrong. He does what you politicians already let others do.

Trump / Kamala Harris in 2024.

Forbes Article Proves Donald Trump could face Income Tax Fraud Charges and Billions in Penalties if Trump loses the 2016 Presidential Election to Hillary Clinton. 

Please consider signing the Debt Neutrality Petition by clicking here.

Forbes Article Proves Donald Trump could face Income Tax Fraud Charges and Billions in Penalties if Trump loses the 2016 Presidential Election to Hillary Clinton.

Forbes Article Proves Donald Trump could face Income Tax Fraud Charges and Billions in Penalties if Trump loses the 2016 Presidential Election to Hillary Clinton. 

Please consider signing the Debt Neutrality Petition by clicking here.

Donald Trump Bombshell. The Real Reason Donald Trump won't release his income tax returns, Donald Trump may face IRS Tax Fraud, Income Tax Evasion, billions in penalties, and possibly Jail Time.

Donald Trump Bombshell. The Real Reason Donald Trump won't release his income tax returns, Donald Trump may face IRS Tax Fraud, Income Tax Evasion, billions in penalties, and possibly Jail Time. 

Please consider signing the Debt Neutrality Petition by by clicking here.

Media Suppresses Bad News about Bernie Sanders, The 1,000 dollar a day man and his almost indicted Wife for Financial Fraud, while going after Hillary Clinton non-stop.

How can it not be Media Sexism when Hillary Clinton is portrayed as the Washington Insider while her  opponent Bernie Sanders outspends her campaign since the beginning of 2016 while garnering less votes and delegates?

How can it not be media Sexism when the media ignores the fact that Bernie Sanders and his wife have been living on one thousand dollars a day for the past 20 years while extolling to the media that Bernie Sanders has no wealth?

How can it not be media sexism when Hillary Clinton is accused of being a Wall Street Insider while Bernie Sander's wife received a gold parachute deal after writing suspicious college checks to a vacation island resort owned by a friend so close to the Sander's family Bernie has called him a brother?


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Warning, Beware American Express Credit Card Products.

Two "Beware Stories" about an American Express Credit Card. Back around 2006 I was encouraged by an American Express Credit Card phone representative into changing my American Express Blue Card to an America Express Delta Miles Card.

During the unsolicited phone conversation I got the representative to promise me three times that my FIXED, life of the card 9.9% interest rate would not change. I repeatedly said I do not want any change to the status of my card if it involves any type of increase in the interest rate or in some other manner. When my next bill came my interest rate had jumped from 9.9% to over 11% AND I was on the hook for an 80 dollar annual fee whereas previously I had not had any fee.

I IMMEDIATELY called American Express, an investigation was done, and I was told they had no way to reverse the card back to an American Express Blue Card, nor to change my rate back to what it had been for the prior 6 six years (9.9%), nor to remove the annual 80 dollar fee which previously did not exist. lol, they did however send a bouquet of flowers. I calculate that this fraudulent act ended up costing me a thousand to two thousand dollars in extra fees and interest rate charges over the next five years.

Forward 5 years, here is some necessary backstory prior to the next American Express story. My mother was eligible for a special Caregiver program that would have paid a caregiver a very small amount per month to be her caregiver. However when she applied for the program we were lied to and told any wages I might receive as her caregiver would be reclaimed by the state of california by filing a lien on our residence if I outlived my mother. I found out 20 months later that this was a lie. However I had already given up my video business to take care of both of my parents and the present lie over the caregiver program resulted in my taking a hit on my credit cards since I no longer had any income and to qualify for the program one can have virtually no savings either. I had had a perfect payment history for 15 years. I just bring this up so that it is understood that my credit card defaults that followed were predicated on Medi_CAL lying about how their program works and not my being lazy or not wanting to work.

The Debt Collection company that American Express hired used a service company that TWICE committed a false subservice against our family. I was finally able to settle my two court litigated cases. BUT HERE IS THE WARNING, ONLY ONE OF THE TWO CREDIT CARD PLAINTIFFS THAT TOOK ME TO COURT IS NO LONGER REPORTING THEIR COURT VERDICT TO MY CREDIT REPORT. AMERICAN EXPRESS IS STILL REPORTING THEIR COURT VERDICT ONTO MY CREDIT REPORT EVEN THOUGH THEY OBTAINED THEIR VERDICT VIA A FALSE SUBSERVICE AND MAIL FRAUD OF THE BACK UP SERVICE THAT IS DONE BY MAIL, AND AMEX IS STILL REPORTING THE VERDICT TO MY CREDIT REPORT EVEN THOUGH I HAVE RECEIVED A SATISFACTION OF JUDGEMENT LETTER FROM AMEX.

When a fraudulently created subservice is then backed-up up via a service by mail it basically means the mailed service was mail fraud since the person doing the service has to swear in writing they performed a lawful subservice in person and put that statement through the mail. Putting that fraudulent swearing in writing through the mail systems constitutes mail fraud in my opinion.

One would think that a compromise to settling a credit card default case that went forward based on a fraudulent subservice and subsequent mail fraud would be for American Express to stop reporting their court "victory" obtained via a fraudulent subservice and subsequent mail fraud service once a satisfaction of judgement has been received.

So my advice is to beware of American Express if there is any chance you might have a life changing event that creates a hardship and you default. American Express appears to have policies in place that make the consumer suffer as much as possible for as long as is legally possible once the consumer defaults and is taken to court and a verdict is gained in AMEX's favor. 

For the record, the amount of the satisfaction of judgement settlement and the amount of the extra charges I incurred after the AMEX Blue card was switched to a Delta Miles card along with a higher interest rate plus annual fees was probably enough to zero out the debt and pay it off in full, yet AMEX will keep reporting their ill gotten court "victory" for the full seven years.

Third quick AMEX Beware Story. I had to help correct another American Express credit reporting mistake in which AMEX closed someone else's account and then claimed the account was not being paid off when it was!  

American Express appears to have some type of credit reporting agenda in which they make their customers suffer as much as they can even when American Express has contributed to the problem with their own illegal acts or mistakes, or the default occurs because of a hardship beyond the consumer's control.


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Apparently Keep your Home California dot org uses ILLEGAL practices before they will help you.

One of the biggest controversies over the home loan modification programs of the past was that to become eligible, one had to fall behind on their mortgage payments. If a homeowner was using rising credit card debt to pay monthly bills so they would have enough actual cash left over to pay their mortgage every month, that homeowner would most likely not be considered eligible for a home loan modification. 

Yet once a homeowner was in arrears on their mortgage, the mortgage servicer could begin what is known as parallel foreclosure proceedings. Parallel Foreclosure meant that a homeowners home was going to be foreclosed upon but if by some miracle a new mortgage payment plan was completed in time, the foreclosure could be halted. All this means is that the homeowner is at the mercy of a government program to ride in and save them in a timely manner from an already in progress foreclosure. Ha ha, good luck with that.  Sometimes it worked, other times it did not. 

So in rides Keep Your Home California dot org, bombarding prime time television in the Los Angeles area with commercials. Curious to see how the up to $100,000 in mortgage forgiveness program worked, I answered their 11 questions. Sure enough, I failed and was not eligible for their mortgage relief program. The reason? I was not behind on my mortgage! I could become eligible were I to fall two mortgage payments behind. 

In other words, the only way to be eligible for a mortgage reduction is to prove you are a deadbeat first. Being a homeowner who is extremely frugal but struggling does not count, one must be an actual financial deadbeat. Once a homeowner's mortgage is more than 30 days in arrears the bank can and probably does report to the credit bureau that the homeowner is behind. Once a home is more than 30 days in arrears, parallel foreclosure can commence as well, even though parallel foreclosures are supposed to be illegal. 

I'd like to suggest the next big thing for consumers. A way to put 10 grand in an escrow or trust account to be used to hire an attorney, and kept in reserve without it being counted as an available asset. That way at least the consumer will still have one more way to fight through the BS once they rely on one government program to save them from what a previous government program failed to accomplish on their behalf.

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CNBC Squawk Box: Sen. Warren Leads Glass Steagall Charge to Break Up Big Banks

Elizabeth Warren got the Consumer Financial Protection Bureau created. Now its time to reintroduce Glass Steagall, no? Even Carl Icahn wants to see Glass Stegall brought back to life.


If you are planning on creating or broadcasting a commercial and want an objective, outsiders point of view about your commercial, contact Alessandro Machi about his consulting services at...

info at alexlogic.com

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by Alessandro Machi at

Super Bowl Consulting

Television foreclosure prevention infomercial on Veritas Law Group by Alan Mendelson of Best Buys.

I am not recommending nor am I condemning the content of the embeded video below. 



I am however impressed by the tone, pacing and content of this television show put out by Alan Mendelson of Best Buys. 

Please use the comments section if you want to share your experience regarding the Veritas Law Group. Above is the show I saw on television, courtesy of Youtube.

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It's 2013 and banks are still foreclosing on homeowners who miss one payment, even when they come up with the money to get caught up.

As bad as Barack Obama has been regarding protecting homeowners against ridiculous foreclosure actions such as this one by Wells Fargo, republican politicians have been worse for not calling Obama to task on rampant foreclosures as they also celebrate initial problems with Obama Care.

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Debt Suspension Rights: Why can't alleged Credit Card Defaulters plead vol...

Debt Suspension Rights: Why can't alleged Credit Card Defaulters plead vol...: Alleged credit card defaulters should be allowed to plead voluntary,  involuntary, or innocent when it comes to credit card default in cou...

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