Tuesday, May 15, 2012

G20; The White House Call

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 I was honored to participate in a Conference call to the White House on getting the word out on "Refinancing for Responsible Home Owners". Welcome to the world of "Globalization", it is most definitely here, good luck to us all. The rules discussed are for everyone in the world, ASEAN, IMF. The World Bank, Thailand, Asia-Pacific Summit, in short, for Global Governance.

The Framework laid out by Brian Deese, Deputy Director of the National Economic Council, and Bob Ryan, Senior Advisor to the Secretary of Housing and Urban Development. Jon Carson Director, White House Office of Public Engagement, took questions at the end on refinancing.

The strategies discussed were first, open a window for refinancing i.e. HARP, FHA, Debt Ratios, Short Sells, Loan for Value Ratio based on 140%, Foreign  Investors, Lease Back etc... Second, define who is "Under Water", families,. Third, who is responsible for the home owner.

Policies that can be measured, are individual, higher %, closing cost, 5 years or less, modify mortgages act... There are other tools that can be measured in the toolbox. " Open others windows" especially competition. The policies proposal are very similar "Charter Cities" except that one starts from zero.

In conclusion, there are other options out there and the word is getting out. As far as "Global Governance" "Charter Cities" the world is getting closer even to a "Global Standard in Finance". Let face it, it is better than the option of "Shadow Banking". I would like to thank President Obama and staff for the opportunity to participate in the White House Call.

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