General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhat does an underwater homeowner look like?
Received this in my email--
Over 11 million American homeowners are underwater right now, owing more on their mortgages than their houses are actually worth.
Here's what that means: it means either you or someone you know is probably one of those 11 million. They might be a family member or you might work with one of them. They might be teaching your children, delivering your mail, bagging your groceries, or they might live right next door. They need and deserve relief and real solutions.
Our opposition -- Wall Street banks, lenders, and the politicians who work on their behalf instead of ours -- are working hard to paint a different picture. They'd like us to believe that this crisis is hitting only a few selfish people who tried to game the system and ran out of luck. If they're successful, we'll lose this fight. It's that simple.
Bank of America denied my loan modification over a .35 cent error made by one of their customer service agents. I complied with all requirements and provided all necessary documentation. As a taxpayer, I bailed them out and this is how they chose to thank me for supporting them at the height of the economic downturn. What happened to building a great nation together?
See their faces...read their stories...
http://america-underwater.tumblr.com/
zappaman
(20,605 posts)tk2kewl
(18,133 posts)russspeakeasy
(6,539 posts)I am interested to know if you have had any help or encouragement from any politicians ? Thanks.
KansDem
(28,498 posts)www.rebuildthedream.com
Perhaps they might have a list of those politicians who actually work for the people.
liberal N proud
(60,298 posts)It is something that can attack your neighbor without you ever knowing it until the for sale sign is in the front yard.
abelenkpe
(9,933 posts)marlakay
(11,370 posts)was denied refi when she asked, the original loan they did didn't take out enough for property taxes and she didn't have the thousands saved up thinking it was included in mortgage payment. Her husband lost his job through disability and back problems and so they turned them down. Good thing she has good job to cover most bills but extra?? no way!
She is now having to borrow money from her boss, we are retired and barely have our own.
When she first bought home 3 years ago it was with another company, B of A bought out her loan, she wouldn't have picked them, I told her not to
she at least listened to me and got a fixed loan...
KansDem
(28,498 posts)24 years ago we bought a house with a 23-year fixed mortage. We went through a local KC mortgage company. They were really good to work with.
Then we wanted to refinance and since our mortgage company didn't do refinances (if I remember correctly), we went with another company. No prolem until that company was bought by Citigroup, then BIG problem! And we've had nothing but problems with them since.
We only have a few more years left on our mortgage so we're sticking it out. But I never would have gone with Citigroup as a "first choice!"
BlueIris
(29,135 posts)I am so horrified that anyone could still do it.
Jester Messiah
(4,711 posts)Clearly I spend too much time on the internets!
iscooterliberally
(2,849 posts)I want to walk away. I have sunk tens of thousands of dollars into trying to improve my home, but it is a giant turd. I now know that it was built this way from the start. Hello chapter 7, here I come...
It's only money. At least I'm still healthy and good looking.
mmonk
(52,589 posts)it after her salary was cut (she is a medical technologist for the VA). Later after it went into default, so she had to try short sell, they changed their minds but it was too late. She had moved into an apartment.