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KansDem

(28,498 posts)
Wed Mar 7, 2012, 03:53 PM Mar 2012

What 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/

12 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
What does an underwater homeowner look like? (Original Post) KansDem Mar 2012 OP
I thought the title of your post meant something else... zappaman Mar 2012 #1
blub, blub... tk2kewl Mar 2012 #7
You mention the "politicians who work on their behalf". russspeakeasy Mar 2012 #2
This email came from "Rebuild the Dream" KansDem Mar 2012 #6
Unless they have scuba gear on, I didn't know they looked any different than anyone else liberal N proud Mar 2012 #3
K & R please share nt abelenkpe Mar 2012 #4
My daughter who has loan with B of A marlakay Mar 2012 #5
Same thing happened to my wife and me KansDem Mar 2012 #8
Corruption within the banking industry is indefensible. BlueIris Mar 2012 #9
I was expecting a picture of SpongeBob. Jester Messiah Mar 2012 #10
I guess they look like me. I'm underwater. iscooterliberally Mar 2012 #11
Like my cousin. They refused to modify my cousin's when she requested mmonk Mar 2012 #12

russspeakeasy

(6,539 posts)
2. You mention the "politicians who work on their behalf".
Wed Mar 7, 2012, 03:59 PM
Mar 2012

I am interested to know if you have had any help or encouragement from any politicians ? Thanks.

KansDem

(28,498 posts)
6. This email came from "Rebuild the Dream"
Wed Mar 7, 2012, 04:10 PM
Mar 2012

www.rebuildthedream.com

Perhaps they might have a list of those politicians who actually work for the people.

liberal N proud

(60,298 posts)
3. Unless they have scuba gear on, I didn't know they looked any different than anyone else
Wed Mar 7, 2012, 03:59 PM
Mar 2012

It is something that can attack your neighbor without you ever knowing it until the for sale sign is in the front yard.

marlakay

(11,370 posts)
5. My daughter who has loan with B of A
Wed Mar 7, 2012, 04:07 PM
Mar 2012

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)
8. Same thing happened to my wife and me
Wed Mar 7, 2012, 04:17 PM
Mar 2012

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)
9. Corruption within the banking industry is indefensible.
Wed Mar 7, 2012, 04:30 PM
Mar 2012

I am so horrified that anyone could still do it.

iscooterliberally

(2,849 posts)
11. I guess they look like me. I'm underwater.
Wed Mar 7, 2012, 05:17 PM
Mar 2012

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)
12. Like my cousin. They refused to modify my cousin's when she requested
Wed Mar 7, 2012, 05:27 PM
Mar 2012

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.

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