No-doc real estate loans, short for “no documentation” or “no document” loans, were a type of mortgage loan that gained popularity in the early 2000s during the housing boom in the United States. These loans were designed to make it easier for borrowers to obtain mortgages without having to provide extensive documentation of their income, employment, or financial assets. The key characteristic of no-doc loans was that they required minimal or no documentation from the borrower to verify their financial status.

Here are some key features of no-doc real estate loans:

1. Limited Documentation: Borrowers typically did not need to provide traditional income verification documents, such as pay stubs, tax returns, or W-2 forms. Instead, they might state their income on the loan application without providing any supporting evidence.

2. Higher Interest Rates: Due to the increased risk associated with lending without thorough income verification, no-doc loans often came with higher interest rates compared to traditional mortgage loans.

3. Lower Down Payments: Lenders might accept smaller down payments, allowing borrowers to purchase homes with less money upfront.

4. Risky Borrowers: No-doc loans were often marketed to self-employed individuals or those with irregular income streams who had difficulty qualifying for conventional mortgages.

5. Adjustable-Rate Mortgages (ARMs): Many no-doc loans were structured as adjustable-rate mortgages, which meant that the interest rate could change over time, potentially leading to higher monthly payments.

6. Declining Values: The popularity of no-doc loans contributed to the housing bubble and subsequent financial crisis in the late 2000s, as many borrowers who couldn’t afford the loans defaulted when interest rates adjusted or home values declined.

As a result of the housing market collapse and the financial crisis, regulations surrounding mortgage lending were tightened, and risky loan products like no-doc loans largely disappeared from the market. Today, lenders typically require borrowers to provide comprehensive documentation to verify their income and financial stability when applying for a mortgage, with the aim of ensuring that borrowers can afford the loans they are seeking.

Another message from the one and only, Kevin DeLory. Thank you Kevin, for sharing

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What is the difference between mortgag bankers, correspondent lenders, mini-correspondent lenders, mortgage brokers, retail loan officers, and wholesale mortgage lenders?

Worthwhile video from Santa’s Surfing Worthwhile Watching.

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6/25/2024 - Julian Free - Fed Reserve Hacked - Big Pfizer lawsuits! Greatness from God!

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AirBnB’d property owners are seeing a lack of business.

Have you gotten a Last Minute Mortgage Denial at your current lender? You are not alone. Over 80% of our clients at Gustan Cho Associates are borrowers who got denied at other lenders. Borrowers got denied at other lenders because the loan officer did not properly qualify the borrower or because of the mortgage company having Lender overlays. Lender overlays are additional mortgage guidelines above and beyond the minimum agency guidelines of FHA, VA. USDA, FANNIE MAE or FREDDIE MAC. The team at Gustan Cho Associates has a no lender overlay business platform on government and commercial loans. We can help borrowers with credit scores down to 500 FICO, non-qm loans, 12 months bank statement loans, DSCR loans, no-doc loans, ITIN loans, DACA LOANS, Condotel Financing, hard money commercial loans, commercial loans, SBA LOANS, Factoring, equipment financing, Business lines of credit, POS, Spec-Builder New Construction, Auto Financing, apartment building loans, land loans, church financing, accounts receivable financing, MCA financing, and land development loans. No need to worry if you got denied. The file is not dead. You can join us where we can help you qualify and get you approved for your commercial or business loan.

Breaking NEWS from CEO MIKE KORTAS over the announcement of NEXA MORTGAGE 100. Effective immediately, all NEXA Mortgage loan originators who recruit one full time independent Mortgage Loan Originator and that loan officer does one loan a month in one or all three wholesale lending mini-correspondent investors (EPM, MLB, and UWM) the loan officer will make 100% of the revenues. Let’s dive into the details of NEXA Mortgage’s commission structure. If you’re a self-producing Mortgage Loan Originator (MLO) looking for a change in brokerages, NEXA has some exciting possibilities for you:

1. Base Commission:

   • The first layer of NEXA Mortgage’s compensation plan is the Base Commission. You start by selecting a margin applied to your lender-paid compensation deals.
   • While you have the flexibility to choose different margins, it’s recommended to opt for 275 basis points, which grants you 220 basis points.
   • With this competitive rate, your commissions can significantly increase, especially when closing larger loan amounts.

2. Bonus Commission:

   • NEXA rewards hard work and dedication with the Bonus Commission.
   • Once you hit $3 million in funded volume per month, you’ll receive a 100% commission on everything beyond that threshold.
   • This bonus structure motivates MLOs to exceed their targets, and the potential for increased earnings is substantial. So, the sky’s the limit when it comes to achieving higher commissions!

3. Partnership Compensation Plan:

   • Taking their commitment to growth and recognition a step further, NEXA introduces the Partnership Compensation Plan.
   • When you’ve introduced 10 Originators producing at NEXA, you become eligible for this plan.
   • Instead of waiting to hit $3 million, you get a 100% commission starting at $2 million in production.
   • This incentive encourages MLOs to contribute to the company’s success by bringing in top-performing Originators.

4. Revenue Share Program:

   • Interested in building a business within a business? NEXA Mortgage offers an enticing Revenue Share Program.
   • By introducing other Originators to NEXA, you can earn a portion of their commissions, creating a powerful source of passive income.
   • As you develop your downline and help others succeed, your Revenue Share can grow significantly.

5. Daily Payouts:

   • Gone are the days of waiting for weeks to receive your commissions.
   • NEXA Mortgage pays you daily, treating you like a realtor and ensuring you get your hard-earned money promptly1.

Remember, always do thorough research and consider all aspects before making any decisions. If you’re interested in joining NEXA, reach out to them directly to explore the opportunities further!

https://gustancho.com/career-opportunities/

• This discussion was modified 11 months ago by  Gustan Cho.
• This discussion was modified 11 months ago by  Gustan Cho.
• This discussion was modified 11 months ago by  Gustan Cho.
• This discussion was modified 11 months ago by  Gustan Cho.

John Parker, who are the top 10 branches at NEXA Mortgage so I can compare apples to apples. I think it’s time we start going full blast recruiting. Also. The largest size branches at NEXA by volume and loan officers. Thanks.

Today’s meeting with Yvonne Schinzel has been rescheduled to Tuesday, August 8th, due to severe storms by Yvonne at 2 pm CDT. Important meeting. We will go over TBD Underwriting Pre-Approvals and Down Payment Assistance programs. TBD underwriting is when the borrower’s file is submitted without a property and is fully underwritten by a mortgage underwriter and a conditional loan approval is issued. It is like a loan commitment without the property. Once the borrower gets the property, the real estate purchase contract is submitted to the same underwriter. The property is then underwritten, the appraisal is ordered and reviewed, and the clear to close is issued. I used to do this all the time, and it is a game changer. Almost like a cash offer, and sellers love it. We have our preferred wholesale lending partner Christian Sorenson at EPM with a forgivable down payment assistance program, which is our best DPA loan program. Still, the maximum DTI is 48.99/48.99, and only borrower paid. Cameron LeClair from the Lender is our second preferred lender of choice, but the down payment is a non-forgivable, full 46.9%/56.9% DTI with approve/eligible but the borrower needs 680 FICO, which is weeding out a lot of people. On the other hand, Yvonne has a DPA non-forgivable program with a minimum 600 FICO, and a debt-to-income ratio can go up to 46.9%/56.9%. Lender paid compensation.

Hilarious funny video clip.

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https://www.facebook.com/Sandratiendaderegalos?mibextid=ZbWKwL | Sandra K Valle Gonzales | Sandra K Valle Gonzales · Original audio

https://www.facebook.com/Sandratiendaderegalos?mibextid=ZbWKwL. Sandra K Valle Gonzales · Original audio

Inflation has been skyrocketing like never before in history. Home prices are at historic highs. Mortgage rates are almost at 8.0% with no signs of increasing. Rents are increasing every year but wages has not gone up. If anything, wages are decreasing and by no means keeping up with Inflation. What’s in the horizon? I feel bankruptcy rates will increase like never before.

Illinois residents have been moving to Indiana in increasing numbers in recent years, with an estimated 31,015 moving in 2022. Some reasons for this include low cost of living, affordable housing, low taxes, friendly people, welcoming new businesses with tax incentives, proximities to large cities, great schools, and great healthcare. Cost of living. Indiana is considered one of the most affordable states in the US, with U.S. News ranking it #2 in overall affordability and #3 in housing affordability. For example, moving from Indianapolis to Chicago could increase the cost of living by more than 20% . Job opportunities: Indiana’s manufacturing and agriculture industries offer many job opportunities. Schools: Indiana’s Four Star School program ranks schools for excellence and accountability. Proximity to cities: Indiana is close to major cities like Chicago and Louisville, which offer access to entertainment, culture, and more jobs. Popular cities throughout the state of indiana: Some Indiana cities that are popular with Illinois residents include Indianapolis and Fort Wayne. Indianapolis offers a low cost of living, walkable downtown, and attractions, while Fort Wayne has affordable cost of living, family-friendly neighborhoods, and good schools.

https://gustancho.com/home-loan-with-bad-credit-in-indiana/

• This discussion was modified 9 months, 2 weeks ago by  Connie. Reason: Spelling error

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Home Loan With Bad Credit In Indiana With No Overlays

Gustan Cho Associates is a mortgage company with no overlays specializing in Home Loan With Bad Credit In Indiana and dozens other states

Moving to Indiana can be an exciting experience! Indiana is a state located in the Midwestern region of the United States and is known for its diverse landscapes, friendly communities, and rich history. Here are some things to consider and tips to help you with your move:

1. Research Different Areas: Indiana has various cities and towns, each with its own unique character and amenities. Consider factors such as cost of living, job opportunities, school districts (if applicable), and the overall lifestyle you’re seeking when choosing a place to settle.

2. Climate: Indiana experiences all four seasons, so be prepared for hot summers and cold winters. Make sure to pack accordingly with clothing suitable for different weather conditions.

3. Cost of Living: The cost of living in Indiana is generally lower than in many other states, making it an attractive option for those seeking affordability.

4. Job Market: If you’re moving for work, research the job market in your chosen area. Indiana has a diverse economy, with significant industries including manufacturing, agriculture, healthcare, and technology.

5. Transportation: Indiana has a well-developed network of highways and interstates, making it relatively easy to travel within the state and to neighboring states. If you’re moving from out of state, consider transportation logistics for your belongings.

6. Schools and Education: Indiana has both public and private schools, as well as several colleges and universities. If you have children, research the local schools and districts to find the best fit for their education.

7. Outdoor Activities: Indiana offers a range of outdoor recreational opportunities, from hiking in state parks to boating on its many lakes and rivers. Take advantage of these activities to explore the natural beauty of the state.

8. Local Culture: Embrace the local culture and traditions. Indiana has a strong sports culture, with basketball and auto racing being particularly popular.

9. Connect with Locals: Hoosiers (a term used to refer to Indiana residents) are known for their friendliness. Don’t hesitate to connect with locals, join community events, and get involved to build a strong social network.

10. Prepare for the Move: Plan and organize your move well in advance. Notify relevant parties about your change of address, hire a reliable moving company, and take care of any necessary paperwork or documentation.

Remember that every move comes with its challenges, but with proper preparation and a positive attitude, you can make the transition to Indiana a smooth and enjoyable one. Good luck with your move!

https://www.youtube.com/watch?v=6j5LqYBsBqQ

There is no doubt that Joe Biden is the worst President of the United States and one of the dumbest, if not the dumbest, human being ever to head the Oval Office. I can give you an overview of some of the economic policies and initiatives that were in place during the Biden administration up to my last update.

When Joe Biden took office as the 46th President of the United States in January 2021, he faced significant economic challenges, primarily due to the COVID-19 pandemic’s ongoing impact on the economy. His administration’s economic agenda aimed to address the public health crisis and support economic recovery.

Some key points of the Biden administration’s economic policies up to September 2021 included:

1. COVID-19 Response: Biden prioritized a comprehensive approach to combat the pandemic, including mass vaccination campaigns, expanded testing, and providing financial aid to individuals and businesses affected by the pandemic.

2. American Rescue Plan Act: In March 2021, the administration passed the American Rescue Plan Act, a $1.9 trillion economic relief package. This legislation included direct payments to individuals, extended unemployment benefits, aid to state and local governments, funds for COVID-19 vaccine distribution, and support for small businesses.

3. Infrastructure and Jobs Plan: Biden proposed an infrastructure plan that aimed to invest heavily in infrastructure projects, such as transportation, broadband, and clean energy. The proposed plan also sought to create jobs and boost economic growth.

4. Tax Policy: The Biden administration proposed raising taxes on corporations and high-income individuals to fund various social programs and infrastructure investments. The goal was to address income inequality and generate revenue to support government initiatives.

It’s essential to remember that the economy’s performance is influenced by various factors, including global economic conditions, geopolitical events, and other policy changes. Therefore, I recommend checking more recent sources to obtain an up-to-date and comprehensive assessment of the Biden economy as of August 2023.

https://www.trunews.com/stream/joe-biden-dreams-of-ice-cream-as-nashville-christian-school-children-are-dead

https://www.youtube.com/watch?v=NqQebl57Q1Q

Commission-income borrowers can qualify for a mortgage loan. John Parker NMLS 124935 authored this blog on commission-income mortgage guidelines:

https://gustancho.com/commission-income-mortgage-guidelines/

gustancho.com

Commission-Income Mortgage Guidelines

Commission-Income Mortgage Guidelines require all self-employed and 1099 income earners 2 years of self-employment income to qualify

I will start creating a comprehensive power point training program in GCA FORUMS for brand new loan officers, and dually real estate agents and mortgage loan officers. Becoming a mortgage loan originator can be extremely lucrative, with no limit on how much you can make. However, getting licensed and passing the national NMLS exam is the easy part. The real training starts with doing deals. Any newly licensed loan officers who have yet to have two years of full ti8m experience originating mortgage loans with a minimum of 20 million in production will need to be on a six-closed loan apprenticeship training program with a senior tenured licensed loan officer at Gustan Cho Associates. What this means is the newly licensed loan officer will get trained by an experienced GCA loan officer and take six loans from qualification to closing in order for them to become independent. The training program will be comprehensive and I will link blogs that were written to this section for reference.

Greetings all, I have a commercial scenario, below are the details.  What rate could we offer?

commercial
refinance
in LA
on Westin
currently occupied to child care center
government program
DSCR is 1.49
building appraised for $1.2mn
$500k loan currently on property
mortgage she’s paying is $3500
income from child care center is $5400
good DSCR

You can email me at taylorgilmore86@gmail.com

There are many fake doctors that are celebrities. These so called celebrities use Dr. How many fake doctors are there. Is Dr. Jill Biden and Dr. Phil real doctors or fake doctors?

A fellow member of GCA FORUMS directed me to ask GCA FORUMS members about generating my own organic traffic for Leads. I have been shit out of luck buying leads.

I’m not sure where to post this, religion, pets, or hobbies.

Sex before marriage is a sin, unless you do it doggy-style, all dogs go to heaven.

Here are some key facts about Nevada: Nevada is a state located in the western United States. Its capital and largest city is Carson City. Major cities include Las Vegas, Reno, Henderson, and North Las Vegas. Nevada is the 7th largest state by area but one of the most sparsely populated. Most of the state’s terrain consists of desert and semi-arid landscapes. It is part of the Mountain West region of the U.S. The Mojave Desert covers much of southern Nevada. Nevada is best known for its gambling, entertainment and tourism industries centered around Las Vegas. Other major industries include mining, logistics, and renewable energy. Notable geographic features include Lake Mead, the Hoover Dam, Red Rock Canyon, Valley of Fire State Park, and Great Basin National Park. Native American tribes have inhabited the area for thousands of years. Nevada became the 36th state admitted to the Union in 1864. Top institutions of higher education include the University of Nevada, Las Vegas and the University of Nevada, Reno. Let me know if you need any other details about the history, culture, economy or attractions in the state of Nevada. Gambling in Nevada: Nevada is famous for its legalized gambling and is considered the gambling capital of the United States. Here are some key points about gambling in Nevada.

Gambling was legalized in Nevada in 1931, when the state passed a law allowing gambling establishments. This move helped bolster Nevada’s economy during the Great Depression.

Las Vegas is the gambling mecca, home to lavish casino-resorts like the Bellagio, MGM Grand, Caesars Palace, and the Venetian. The Las Vegas Strip is an iconic destination for gambling. Reno is another major hub for casinos and gambling, known as “The Biggest Little City in the World.” In addition to slot machines and table games like blackjack, roulette and craps, Nevada casinos offer sports betting, poker rooms, and racebooks for betting on horse races. Nevada’s lenient regulations on gambling have allowed the state’s casinos to experiment with new games and gambling formats over the years. Gambling tax revenues are a critical part of Nevada’s economy and state budget. In fiscal year 2022, gambling taxes provided over $1 billion to state coffers. While Nevada is famous for its mega casino-resorts, there are also many smaller local casinos and gambling halls across the state. Native American tribes have also opened casinos on tribal lands in Nevada in recent decades. So in summary, legalized gambling, pioneered in Nevada, has become a pillar of the state’s identity, economy and tourism draw.

• This discussion was modified 11 months, 1 week ago by  Lisa Jones.
• This discussion was modified 11 months, 1 week ago by  Gustan Cho.
• This discussion was modified 11 months ago by  Sapna Sharma.

Why you should be protected to avoid STD

@Bill Burg

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Follow @WeTrendingWorldWide 📈 ᴄᴏᴍᴍᴇɴᴛ ʙᴇʟᴏᴡ 📈 🫣🤣😱😳 🎟️Tag Your Friends 📱Share For More New Funny / Entertaining Content *Content creators Dm me for Credit or removal of video* *Dm For Promo* • • #WeTrendingWorldWide | WeTrendingWorldWide 📉📈 | wetrendingworldwide · Original audio

Follow @WeTrendingWorldWide 📈 ᴄᴏᴍᴍᴇɴᴛ ʙᴇʟᴏᴡ 📈 🫣🤣😱😳 🎟️Tag Your Friends 📱Share For More New Funny / Entertaining Content *Content creators Dm me for Credit or removal of video* *Dm For Promo* • •...

Many mortgage companies do not allow real estate agents to become loan officers at their mortgage company. Licensed realtors need to surrender their real estate license and put the real estate license in hibernation if the mortgage lender is going to sponsor them. This is not the case at NEXA Mortgage. Realtors can become loan officers at the same time and can represent their homebuyers as their loan officers on the same transaction. Here is the blog that was posted on this matter:

https://gustancho.com/can-realtors-be-loan-officers/

• This discussion was modified 11 months ago by  Gustan Cho.

gustancho.com

Can Realtors Be Loan Officers at the Same Time?

Can Realtors Be Loan Officers and make money on the same transaction? The dual realtor/MLO gets compensation as the realtor and loan officer.

Becoming an independent mortgage broker and operating under a “doing business as” (DBA) name can offer you flexibility, control, and potentially higher earnings. Let’s break down the steps involved:

1. Get Licensed: First, you’ll need to obtain the necessary license. Becoming a mortgage broker typically involves completing 20 hours of pre-licensure education courses and passing the NMLS mortgage license exam. State-specific requirements may apply.

2. Education and License: Start by getting licensed as a loan officer. This process includes coursework, test preparation, and an exam. With the right guidance and resources, you can achieve licensure in as little as 3 to 4 weeks.

3. Choose Your Business Structure: Decide whether you want to operate as an independent mortgage broker or as a DBA of a larger mortgage lender. If you choose the latter, you’ll need to register your DBA name. The process is usually straightforward and involves filing paperwork and running an ad in a local paper. Filing fees vary by state.

4. Build Relationships: As an independent broker, you’ll have the freedom to work with multiple lenders. Building strong relationships with these lenders is crucial. Network, attend industry events, and collaborate with other professionals to expand your connections.

5. Market Your Services: Develop a marketing strategy to attract clients. Utilize online platforms, social media, and local advertising to promote your services. Highlight the benefits of working with an independent broker, such as access to a broader range of loan products and more competitive rates.

6. Set Up Your Business: Establish your business by creating a business plan, setting up an office (physical or remote), and organizing your finances. Consider hiring support staff if needed.

7. Commissions and Fees: As a mortgage broker, you can earn commissions and fees from both borrowers and lenders. Lender-paid commission (LPC) and borrower-paid commission (BPC) are two common models. LPC is paid by the lender, while BPC is paid by the borrower in the form of an origination fee. Having pricing flexibility allows you to be competitive and maintain credibility with referral partners and clients.

NEXA Mortgage, NMLS 1660690, is the largest mortgage broker in the United States with 2,500 licensed mortgage loan originators and a team of 5,000 support and operations personnel, third-party vendors, and upper level management executives.

Remember that each step requires careful consideration and planning. Whether you choose to operate independently or as a DBA, focus on providing excellent service to your clients and building a successful mortgage brokerage business. Good luck!

https://gustancho.com/starting-mortgage-net-branch/

NEXA Mortgage has a strong business platform in joint venturing new dba independent mortgage brokers and teams of loan officers where benefiting the independent mortgage brokerage owner and its mortgage loan officers and support staff. The independent mortgage broker owner keeps everything the same, especially the control of owning and operating its own independent mortgage brokerage company and using the independent mortgage broker’s trade name as a dba of NEXA Mortgage. Gustan Cho Associates is a dba of NEXA Mortgage (NMLS 2315275) licensed in 48 states including Washington, DC, Puerto Rico, and the U.S. Virgin Islands (Massachusetts and New York is pending).

If you are currently a mortgage broker company, how can you become a mini-correspondent lender at the same time? Can you become a mortgage broker and a correspondent lender at the time. A wholesale mortgage account executive said it easy and no problem. Just like another professional opinion.

Gustan told me last night that wholesale mortgage lenders like The Lender offers free trimerger hard credit pulls which costs $77.00 either to the borrower or the Loan Officer. Where can I get more detail on this on how it works.

Its OFFICIAL. Our main website at GCA Mortgage Group has finally been Google NEWS approved from Google earlier today. Like to thank Ravinder Sharma, Sapna Sharma and the technical and digital media marketing team at GCA Mortgage Group for its hard work on working countless hours on all of our main website and GCA FORUMS as well as its subsidiary sister partner websites and social media platform. After a long meeting with Ravinder and his team, the forum did the trick to get that boost we needed to get Gustan Cho Associates Google NEWS approved. If you folks can participate regularly on our forum, it would be very much appreciated. GCA Mortgage Group (Gustan Cho Associates) is a dba of NEXA Mortgage. Gustan Cho Associates has been diligently working on its websites and social media platform and consistently applied two or more time each year since 2014 to Google to get Google News approval as a Google endorsed and sponsored Google News publisher. Google News approval is a recognition of the quality and relevance of your news content. It can also mean that Google trusts your site and will recommend it in search results.

To get approved, your website must meet the following requirements:

• Provide accurate, well-sourced, and original news articles
• Demonstrate expertise and authority in your niche or field
• Publish original content that is timely and relevant
• Be updated frequently throughout the day
• Use a clean and easy-to-navigate design

Once approved, your articles become part of a global news ecosystem, reaching a diverse audience. You can use Publisher Center to submit and manage your content in Google News. You can also configure monetization solutions through Reader Revenue Manager. Getting Google News approval for your website means that Google has reviewed your website and determined that it meets their criteria for inclusion in Google News. This is significant because it allows your website’s content to be featured in Google News search results, which can increase visibility and traffic to your site, especially for news-related content. To obtain Google News approval, your website must meet certain quality guidelines set by Google, such as providing original and timely news content, having a clear and distinct news section, adhering to journalistic standards, and ensuring that your website is technically optimized for Google News indexing.

Once approved, your website’s articles can appear in Google News search results alongside articles from other reputable news sources, potentially driving more traffic to your site and increasing its credibility as a source of news and information. @sapna Sapna and @Ravi will explain the signaficance of getting Google News approval as a publisher.

https://www.youtube.com/watch?v=P4hhFrOta-8

The United States government confiscated gold and silver during certain periods in its history for various reasons, but the most notable event regarding gold confiscation was during the Great Depression in 1933.

In response to the economic turmoil of the Great Depression, President Franklin D. Roosevelt signed Executive Order 6102 on April 5, 1933. This order effectively prohibited the hoarding of gold coins, gold bullion, and gold certificates within the continental United States. Individuals were required to turn in their gold to the Federal Reserve in exchange for paper currency. The government set the price of gold at $20.67 per ounce and subsequently raised it to $35 per ounce, effectively devaluing the dollar against gold.

The rationale behind this action was to stabilize the economy and increase the government’s ability to manipulate monetary policy. By removing gold from circulation and pegging the value of the dollar to gold, the government sought to combat deflation and stimulate economic recovery.

As for silver, there wasn’t a widespread confiscation like with gold. However, the U.S. government did enact legislation in the 1930s that significantly reduced the amount of silver in circulation. The Silver Purchase Act of 1934 authorized the U.S. Treasury to buy silver bullion to increase the price of silver, which had been in a downward spiral. This act effectively removed large quantities of silver from circulation as it was melted down into bars and stored in government vaults. Later, during World War II, there were further restrictions on the use of silver due to its strategic importance for the war effort.

In summary, the confiscation of gold and reduction of silver in circulation during the Great Depression era were measures taken by the U.S. government to stabilize the economy, manage monetary policy, and combat the effects of the economic downturn.

Gold and silver confiscation typically refers to government actions where authorities demand citizens turn in their gold and/or silver holdings. The most notable historical instance of this was in the United States during the 1930s. Here are some of the main reasons why such confiscations have occurred:

1. Economic Stability: Governments may confiscate gold and silver to stabilize the economy during times of crisis. For example, during the Great Depression in the 1930s, the US government feared hoarding of gold was exacerbating deflationary pressures, so it sought to increase the money supply and gain control over monetary policy.

2. Currency Stability: Gold and silver have historically been used as forms of currency or backing for currency. Confiscation may occur when governments want to maintain control over their currency and prevent alternatives from competing with or undermining it.

3. War Financing: During times of war, governments may confiscate precious metals to finance military efforts. By forcing citizens to exchange their gold and silver for currency or government bonds, authorities can raise funds to support war efforts.

4. Control Over Monetary Policy: Governments may confiscate gold and silver to have greater control over monetary policy. By centralizing gold reserves, authorities can influence the money supply, interest rates, and inflation levels.

5. Political Control: Confiscation can also be a tool for governments to exert political control over their citizens. By seizing assets such as gold and silver, authorities may limit the economic independence of individuals or groups deemed as threats to the government’s authority.

6. Crisis Management: During financial crises or periods of economic uncertainty, governments may resort to confiscation as a means of crisis management. By consolidating precious metal reserves, authorities may attempt to stabilize markets and restore investor confidence.

It’s important to note that while gold confiscation by governments has occurred historically, it’s relatively rare and often met with controversy and resistance. Additionally, laws and regulations regarding the ownership and trading of gold and silver vary from country to country, and confiscation is not a universal practice.

https://www.youtube.com/watch?v=BZovZwwzuVs

I had the great honor and opportunity to work with CEO MIKE KORTAS, CEO and founder of NEXA Mortgage for slightly over two years now. I can attest 💯plus more that CEO KORTAS honors 110% of his word, never had lied to me, and has always led by example. AXEN MORTGAGE is the next invention best to sliced bread. You don’t get screwed at NEXA MORTGAGE under the helm of CEO Mike. Now you can take that to the back folks.

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I’m going to change the mortgage game today. Be on the Why NEXA call to see the biggest opportunity in mortgages today at 11am AZ time. Big moves... | By Mike KortasFacebook

I’m going to change the mortgage game today. Be on the Why NEXA call to see the biggest opportunity in mortgages today at 11am AZ time. Big moves...