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Barack Obama: "predatory lenders... driving low-income families into financial ruin"

Posted at 10:25 AM, Aug. 29, 2007

LONDON --- Democratic presidential candidate Barack Obama published an essay in today's Financial Times, the European equivalent of a Wall Street Journal without the Rupert Murdoch. 

Quoth Obama:

The implosion of the subprime lending industry is more than a temporary blip in our econ­omic progress. It is a cancer that, given today’s integrated financial markets, threatens to spread with devastating impact to housing and to our economy as a whole, unless we act to contain it.

It is also a parable about how an excess of lobbying and influence can defeat common sense rules of the road, placing both consumers and our nation’s economic well-being at risk.

While predatory lenders were driving low-income families into financial ruin, 10 of the country's largest mortgage lenders were spending more than $185m (€136m, £92m) lobbying Washington to let them get away with it," he wrote, citing figures from the Centre for Responsive Politics.

We can't link to the article without a subscription, but Financial Times correspondents Jeremy Grant and Eoin Callan in Washington posted a linkable, likable analysis of Obama's essay that offers another glimpse or two:

...Mr Obama blamed lobbyists working on behalf of lenders for obstructing tougher regulation of the subprime industry, adding: "Our government failed to provide the regulatory scrutiny that could have prevented this crisis.

Grant and Callan report that Senate Banking Committee chairman Christopher Dodd, also a Democratic presidential candidate and a Senator from Connecticut, and House Financial Services Committee chairman Barney Frank, D-MA, think Fannie Mae and Freddie Mac could help pick up the slack if the Bush administration would lift caps on the giant mortgage lenders' portfolios. But their main focus is Obama's 'radical proposal.'

Mr Obama said the government needed to "stop the unlicensed, unregulated, fly-by-night mortgage brokers who are hoodwinking low-income borrowers into loans they can't afford".

He added that "Washington needs to stop acting like an industry advocate and start acting like a public advocate".

Many thanks to Jerome a Paris of the European Tribune for alerting us about this via DailyKos.com.

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RE: Barack Obama: "predatory lenders... driving low-income families into financial ruin"

Posted by spring hil, fl at 3:38 PM, Jan. 23, 2008

so, everyone knows we are all going to loss our homes but what is happening. nothing! I have worked my whole life, raised my kids sent them to college and did not cheat to have the state pay my way. all I want is to pay my house payment and live in my home.  So Help today. My credit is poor now make these high payment late but pay them I do, until now I cannot.

RE: Barack Obama: "predatory lenders... driving low-income families into financial ruin"

Posted by Anonymous at 12:35 PM, Dec. 29, 2008

I am sending this comment in because I am a single parent and i am trying to find a low income house for my family and I I being trying to apply for a low income house for the longest and not yet been able to ceed i have wrote to the Urban Development Housing Department but no one has call nor respond to me about anything and I trully need someone to help me really bad I can't give my name cause someone has  stolen my identiy and now I am scary to send my name through the internet so if it is ok by you can i just send my address if not then I understand(2684 nw 50st) Miami,Florida 33142

                            Ms.Pamela Payne

                                  Again I Thankyou for your coporation

RE: Barack Obama: "predatory lenders... driving low-income families into financial ruin"

Posted by Ray Shelton at 1:43 PM, Dec. 14, 2009

Barack Obama:

Re Barry Silber, Jim Marks and Linear Captial of Tampa Florida

What you are not addressing is how hardmoney lenders have stripped, flipped and steered low income families into losing everything. You should create a task froce that will help the small families with the soul purpose of restoring all properties lost to Predatory Lenders. Many  Judges are not abiding by the law of TILA- HOPA and FTC laws.  Please read this story because it has happened to thousands of families who had no money to defend themselves to high priced lawyers.


Please help to expose these people so that others are protected.
Help expose these men.

Here is a comment worthy of note which I found trolling the comments on my blog:

Remember if you are dealing with an unscrupulous licensed professional (attorney, mortgage broker, etc.) you can file a grievance with the licensing agency who will investigate, prosecute if necessary, and possibly require restitution.


[Editor’s Note: If con men looked like crooks they wouldn't get anywhere. They always ingratiate themselves and seem like good people interested in helping. They intentionally do not appear to be much different from legitimate lawyers, auditors, debt counseling etc. Livinglies does not vouch for the accuracy of any statement contained in the article below]

A Warning to others having Mortgage problems:  Re: A family of predatory lenders…

Our family was having some problems with our first mortgage we got behind and were facing a potential foreclosure.

We got a lot of the typical rescue mailers telling us that we had plenty of equity and not to worry.  We knew this and we only needed 20 to 30 thousand dollars to bring the loan current.  Plus we knew we could sell another property that would pay off part of our loan at any time. That seemed simple enough,.

Now let the nightmare begin…

We were approached by a broker / lender named Jim Marks out of Tampa Florida who said he could rescue us and the rates would be very low because we had so much equity in our waterfront home.  He said he could find us plenty of money.  We were very clear to him that we did not have the income to do any major loan an we only needed a small amount.

Fast forward… He befriended our family,  had lunch many time in our home and other places , went snorkeling and diving on our boat with his family, he also wanted to see all the waterfront and residential properties my family had invested in, he also brought out investors to see what we had, later we found out that the investors were his own relatives (Barry Silber the lawyer / hard money lender with Linear capital of Tampa ).

They wanted to know if any friends had good deals on waterfront properties, I fell for all of it like a sucker and provide what they needed,  Marks assisted by Silber structured a deal putting everything into the [deal?] that we already owned, they created a corporation for our family,  as a JV partner Marks took 50% and gave us 50%, but took complete control of everything, he sold land we had, used the money for other purchases, took out loans without approval from our family.

As we were about to sell three of our waterfront lots and an investment home, he said don't do it put it in the JV and we would do much better later with him in control.  So we trusted him with everything including the check book.
We thought he was our friend and would managed and protect us but boy were we wrong.

We had no idea that it was all a set up from the very beginning to get control of everything we had.  It is clear now that we had a big target on our backs called equity.  We were steered by Mr Marks right into what I now believe was nothing more than family of Predatory Lenders.

They got me and my family by saying that they could rescue us but all we got was high interest rates etc etc. They eventually forced us into a foreclosure, but always stood by with additional high cost loans in order to get them to stop their foreclosures. We were trapped.

We were forced to meet after hours at their offices to sign more rushed document that we did not really understand. (e.s.) Jim Marks would say don't worry I got your back and would never let you sign anything that would hurt you or your family. Papers were shuffled around for hours by the lawyer/lender Barry Silber and their title company that they all owned and controlled.

We did not want to sign anything but we were up against the wall and the mortgages that they gave us were all due again. They took a years worth of payments up front that night and paid themselves many fees.  Now we had a new giant mortgage on our home that was due in one year it also had a rider that would take away all our rights to the JV that controlled all our Families properties if we didn't pay them back within that one year.

We told Marks that we can't pay this loan back and he said don't worry we will sell something in the JV to pay this off or refinance you again.  The lawyer involved was Mr Mark’s relative, Barry Silber was also part of the company that gave us one or more of the mortgages.  Before that year was up his cousin Barry Silber started foreclosure on everything and than said they could not lend any more money.  What is astounding is that our Mortgage on our home was now over $ 1 million dollars.  How did this happen in just 3 years?

How did we allow someone to take all our families properties? First we trusted Jim Marks as a friend and business partner.  But he was clearly working his way into our family and eventually found out every aspect of our assets and liabilities.  Second:  We were not very smart with our finances. Third: We don't have much of an education and trusted him because he said he could handle everything properly.

Now we see that they were all very smart and we were conned over and over again into trusting a  family of hard money lenders who had one motivation and that was to milk us of all our equity by what ever means possible.  We all feel very bad because we let this happen to our families holdings.  We believe that state and federal laws have been broken AND WE HAVE BEEN IN CONTACT WITH EVERY AGENCY POSSIBLE SEEKING JUSTICE.   FROM LOCAL LAW ENFORCEMENT TO THE UNITED STATES ATTORNEY GENERAL AND EVERYTHING IN BETWEEN.  WE ARE ALSO FILING COMPLANTES WITH THE FLA BAR AND OTHER AGENCYS THAT CONTROL THE LIC OF THESE MEN IN THE HOPE THAT JUSTICE WILL BE SERVED. Law enforcement and media take notice...We would like others to give their advise or their own story if they have one about these people or like kind cases.  So Don't ever fall for someone trying to rescue you with a hand of friendship. Report all predatory lenders and mortgage fraud.
I can tell all of you that this web site has helped in several ways.  Keep it going

RE: Barack Obama: "predatory lenders... driving low-income families into financial ruin"

Posted by Ray Shelton at 5:48 AM, Jan. 23, 2010

Predatory lenders find new more complex ways to extract equity from the elderly. Please read our story
Re  Linear Capital, Barry Silber
America's Mortgage Broker's LLC, Jim Marks
Dale Group, Suzanne Marks of Tampa Florida
Amanda Sigler Realty of Dunnellon, Florida










Predatory lenders or Rescue Scamers?

Barry Silber, Jim Marks, Suzanne Marks.

Linear Capital, America's Mortgage Brokers LLC.

Affordable Home Funding, The title Team

Dale Group of Tampa Fl

Amanda Sigler Realty, Dunnellon Fl

324 N. Dale Mabry Hwy
Tampa Florida 33609
United States of America
Phone:  813 514 6200
Web Address:  

Category: Was this ORGANIZED CRIME?


To Whom it may concern,
  It is our hope that Law Enforcement and you the media will investigate and expose these people and their companies. they have found a complex way to legally steal from the elderly, if they don't do something about this scam.  Why is law enforcement saying it nor our area or we don't have the budget?   Why are they telling the public that they are going after predatory lenders when many home owners are in big trouble and losing everything. The Scamers are not big enough or its not their problem is what they are saying.   We have been forced to file a civil case when I believe it should be a criminal case. ( case # 09 13757 division H ) in circuit court Hillsborogh County, Florida. By the time we are dragged through court they will have milked everything to death and we will be homeless.  My attorney thinks they might have violated some state and federal statutes if they got more then 45% interest. I think its could be as high as 300%.  Please read our full story.

See RIPOFF REPORT on the web and help us stop them from ever doing this again. Go to the site and type in any of their names or their companies.

Category: Predatory Lending Bait-and-Switch Equity Stripping. Flipping, Steering, Rescue Scamers?


Why Should you Read this story and avoid these PEOPLE and their companies?

Re: Barry Silber, Jim Marks, Suzanne Marks, Amanda Sigler 


RE: Barack Obama: "predatory lenders... driving low-income families into financial ruin"

Posted by Ray Shelton at 2:26 PM, Jan. 25, 2010

WARNING WARNING WARNING; RE: Barry Silber, Jim Marks, Suzanne Marks, Amanda Sigler.  AKA Dale Group, America's Mortgage Brokers or AMB LLc.  Linear Capital, Affordable home Funding, Amanda Sigler Realty .   Be very careful when considering Real Estate advise or borrowing money from Attorney hard money lender Barry Silber AKA Linear Capitial or, Jim or Suzanne Marks His relatives AKA AMB or  Amanda Sigler Realty from Dunnellon Florida.    These people may go down hard if state and federal law enforcement agencies take action.  These people may have found a new more creative but very complex way to take homes and property from the elderly.   Predatory Lenders???
Rescue Scamers???  See RIPOFF REPORT on these companies or personal names for full story
Case file in Hillsborought county.
Parts of Count I, II, & III
Civil Connspiracy,
Criminal Usuary etc.  see case in Hillsborough County # 09 13757
Law Enforcement & Media take notice

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