Yesterday was a busy day for me as I spent most of it putting out the fires a thief started while cleaning up the mess this asshole has now created. Most of y’all have heard me mention before that I do not possess any credit cards with the exception of a gas card which I use once to twice a month just to keep it active. Otherwise, as a household we operate and function with either cash or either one if our debit cards. Yesterday morning I was looking at my bank account on-line and noticed three odd charges. After speaking with my wife, who was at work, it was determined that these transactions were not made by either one of us. However, they listed my card as the card used. So I call the 1-800 number for the bank we use and since my cell phone is linked with my account I was automatically switched to the fraud prevention dept as soon as I entered my account information. An automated message comes on with instructions on how to use the following information. It begins to list what turns out to be twelve transactions which nine of them were questionable and immediately declined. After the automated version I was able to speak with a fraud prevention banking agent.
She began with my spending habits and how I use my card each month to pay the same things for basically the same amount of funds and then I have PayPal payments which are also explainable. Then she listed the nine which were declined which equaled just shy of $3,000.00 and the nature of the attempted purchases. Here is the shocker, they all happened in a small 25 mile radius in a city she could not release in fucking Canada. Want stranger? The three “pending” charges equalling less than $10.00 were also in the same city in Canada. The end result is that all the charges have now been declined, my card has been killed, and my wife’s card and my daughter’s card have both been put on fraud watch for suspicious activity. Problems solved, right? I suppose only time will tell. She explained that this is being investigated and I will be informed if the person(s) is caught because I will be able to press charges based on the international agreements and both countries fraud laws. But still, how does this help me sleep at night.
My wife and I spent the better part of yesterday evening going over the possibilities of where my card specifically was targeted and then compromised. We came up with nothing, as we both pointed out, we did just spend 12 days in South Dakota where my card was used predominantly for 95% of the purchases we made. But there is still no actual answer. It was interesting to me to look at the list of places this asshole was declined. I remind you, all attempts were made in person, meaning the asshole had to swipe a card in a credit card reading machine if some sorts. The best one was that the asshole attempted to pay his/her wireless bill in the store. Why is this good news? To begin with the fraud department now has an account number, a cell phone number, and the name and address on the account. Great, right? Probably not because it is most likely all fake or stolen. For now this is resolved and the wannabe thief has been stopped. Well, my card is no good to the asshole, but who knows how many more stolen cards/numbers he/she possesses or how they are obtained. Now I don’t know if this asshole is Canadian, nor do I know if this asshole lives in Canada, but I would have to suspect the answers to be yes since the asshole was attempting to pay personal bills which are Canadian.
Before we start jumping in my ass for something I have said I will remind everyone I am not calling all Canadians assholes, just the asshole(s) fucking with my money. Everything having to do with Canada is purely circumstantial based on the information provided to me. So I don’t need no angry yankees busting my ass and filling up my comments or email with bullshit. Agreed? Still friends? Also, in a way this post should serve as a PSA for everyone. Keep an active eye on your money and your accounts. No, I did not mention which bank I use and no I will not divulge that information. Wasn’t it a rapper, many moon ago, who had a line that went something like “keep your money on your mind and your mind on your money” or something like that? His name eludes me at this time. I think it was Snoop Dogg or what ever he calls himself. Yes, I am very out of touch, I know. I really don’t know what to say, none of us are safe because none of us really live off the grid of society. Shit happens and now we live to fight another day a little wiser. Again, Canadians, I wasn’t trying to anger y’all. Unless you are the slimey asshole thief, then yes, by all means, be very offended.
Ever dream of escaping it all and owning a dream home on a remote island paradise? Didn’t think you could afford it? Think again. There is now a U.S. Department of Agriculture (USDA) home loan program here to help you. Created to assist those with low and moderate incomes in rural areas obtain safe and sanitary dwellings, the program has expanded to cover “mortgages for millionaires” and homes in suburban and urban areas, as well as seaside resort communities. This year more than 100 individuals or families received loan guarantees for $500,000 or more from the U.S. Department of Agriculture to purchase a residence in Hawaii. If these new homeowners later cannot afford their new homes, it’s no problem; the federal government will protect the banks from losses by repaying 90 percent of the loans.
These and thousands of other loan guarantees were issued this year by the USDA Rural Housing Service (RHS) Section 502 loan programs. The Section 502 guarantee program and Section 502 direct loan program provide loans to low and moderate income individuals for the purchase of modest housing in a rural area. The programs had authority to guarantee $24 billion in privately sourced loans and make $900 million in new direct loans for FY2013. There is no down payment requirement for the loans, no maximum purchase price, and—according to USDA—the government is required to serve all borrowers who meet eligibility requirements and seek to purchase homes in eligible areas. And despite the name of the program, it serves more than just rural areas. An independent analysis found that, today, the program covers nearly the entire U.S. land mass. That has helped turn the program into one of the sweetest deals available.
The program issued nearly 166,000 loan guarantees in FY 2013 and more than 100 of those were for amounts greater than, or equal to $500,000. Nearly all of these half-a-million dollar home loans were in Hawaii. Many of the most scenic parts of Hawaii, including Maui and Kauai, are eligible areas for USDA rural loan assistance. Maui has been selected as the top island in the world for 20 consecutive years in the annual Condé Nast Traveler Readers’ Choice Awards. Providing a combination of tropical ambience and American comforts, this island paradise offers an abundance of activities offered, from whale-watching to nature hikes to watersports with unending natural beauty. The entire island of Kauai, described as “a little slice of heaven, is considered rural by USDA.
Since property values in Hawaii exceed the national average, buying a home there may seem to be out of reach for most, but everyone from risky borrowers to the wealthy are benefitting from this USDA loan program. The USDA rural housing program’s income guidelines are generous, notes a senior loan officer in Hawaii. Likewise for those with more modest incomes, the Federal Government will reimburse up to 90 percent of the original loan amount to the lender if a borrower defaults on a loan. Thousands of borrowers do foreclose every year, costing the federal government hundreds of millions of dollars, and the number and cost have skyrocketed over the past five years. In 2008, the program had 3,369 foreclosures costing in $103 million in loss claims paid. By 2011, there were 18,808 foreclosures costing $295 million. Last year, the program paid $496 million in loss claims, according to the USDA Office of Inspector General. If trends continue, this loss will have exceeded half-billion dollars in 2013.
The department acknowledges default rates vary throughout the year and during 2012, the delinquency rate for loans 30 or more days past due ranged from 7.65 percent to 10.44 percent. By comparison, the delinquency rate in a typical housing market is around 3 percent. While designed to operate off of loan fees, the program’s delinquency rates make a taxpayer bailout more likely according to experts who predict it’s likely the program isn’t covering its costs and will probably require taxpayer funding. While USDA was putting taxpayers on the hook for generous and increasingly risky loan guarantees, housing assistance to low-income individuals across the country, including in Hawaii, was being cut. In March, USDA threatened the elimination of rental assistance for more than 10,000 very low income rural residents, generally elderly, disabled, and single female households. In July the Department notified hundreds of borrowers that their contracts would be cut off before the end of FY 2013, 90 including a housing unit for disabled elderly in Kailua-Kona, Hawaii.
And while USDA is quick to threaten assistance for the poor, elderly and disabled, the Inspector General found the Rural Development program did not identify and review loss claims from loans with questionable eligibility prior to payment, resulting in millions of dollars in improper payments. Before USDA kicks out low income elderly and disabled from rural housing, the department should first discontinue its risky loan practices that are costing nearly half-a-billion dollars a year in loss claims. This really has me wondering why I didn’t move to Hawaii.
Information found for this “Your Tax Dollars @ Work” post was done by using a Google search. Information compiled from multiple public websites & media outlets.