Song Inspired by Foreclosure and Predatory Lending Practices; Love, Your Broken Home.

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I received an email yesterday from a singer/songwriter who wrote a heartfelt song inspired by a family who lost their home as a result of predatory lending practices. Tim Miller was in his car traveling from one show to another when he turned on his radio and happened to catch a show about predatory lending practices. That show changed Tim's view on the current mortgage crises and inspired him to write "Love, Your Broken Home." (See below video) 

Tim Miller writes:

"...On one side, they had a family on the verge of being homeless because of these predatory practices. On the other side, they interviewed a twenty something year old lender. I know there are a lot of borrowers out there who were greedy and got burned because of it. This family, however, was not one of those borrowers.

Essentially, this family trusted the lender and was taken advantage of. The family was persuaded to lock in a variable rate loan because of its "favorable" terms. Because of the "favorable" terms, of course, the lender convinced the family they could borrow much more money than, in reality, the family should have.

The lender prospered by exploiting families like this - actually saying in the interview how he and buddies would fly to Vegas, go to the best clubs, etc. etc. Not surprisingly, the family's home was foreclosed after their interest rate was reset according to the terms of the loan.

The interview had a profound effect on me and inspired me to write a song about this American tragedy. It has some pretty strong language, but because of your blog, I thought it might be something you'd be interested in hearing..."

Visit Tim  at his website and hear listen to more of his music at Tim's YouTube channel

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This song will go down in history. The family's story is the common one of our country's foreclosure crisis. A

ctually, the inflated appraisals were what lead to over-borrowing. When the "experts" falsely attest to the value of an asset because those "experts" make a commission based on a high-ball appraisal and subsequent fraudulently inflated loan, well, the system was rigged against us all from day one.

Then add to that the fact these loans were sold to default so the insurance could be collected on top of foreclosing on the home.

The poor naive American Family had no chance. We were sitting ducks at a hunters' convention.

It's totally quacked up!

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