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$TRILLIONS OF DOLLARS TO BANKS. SOUND BITES TO HOME BUYERS. CATCHY TITLES FOR HOME OWNERS.

FACT: Banks are in trouble because home owners are going to foreclosure.

SECRETARY OF THE TREASURY: Let's try to cure the economy by giving a few $Trillion Dollars to banks.

CONGRESS: Good idea. I have a list of contribu. . . . er um, ddistinguished banking institutions that could use a few $Billion Dollars. These distinguished bankers are telling me that they've lost a bundle on their investments in mortgage backed securities.

CONSUMER: "How is giving money to banks going to help home owners?"

CONGRESS: "We don't have a clue but the bank lobbiests are saying that if we give a few $Trillion Dollars to the distinguished banks, the distinguished banks will lend money to home buyers and homes will sell."

CONSUMER: "Why not just give the money to home owners so they can get back into the real estate market?"

CONGRESS: "We do not trust the American home owners to know what to do with their money."

CONSUMER: "Yet, you trust the bankers and insurance companies who made bad investments and lost $Billions in credit default swaps and mortgage back securities to know what to do with our money."

CONGRESS: "Indeed. We have received proposed legislation from a distinguished lobbyist for a distinguished bank holding company to fund a program under HUD that will help a few home owners on the verge of foreclosure by giving incentives to mortgage servicing companies to take the home owner's arrears and just add it to the mortgage balance."

CONSUMER: "But the mortgage balance will still be far more than the price for which the home owner could sell his home."

CONGRESS: "That's too bad, but the decision to sell a property is not our problem. That's between a home owner and their real estate agent. Perhaps they can sell it as a short sale. Or, they can just stay where they are. If they can't make the payments, they'll just lose their home. After all, a contract is a contract and the home owner agreed to pay"

Mortgage Mess

"Any good news today Honey?"

"No Dear, the mortgage company says we can't get any help because we've been making our mortgage payments.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail.

Posted by Lenn Harley, Real Estate Broker, Maryland & Virginia on 05/20/2009 06:46 AM

Comments (90)

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90 Comments on $TRILLIONS OF DOLLARS TO BANKS. SOUND BITES TO HOME BUYERS. CATCHY TITLES FOR HOME OWNERS.

MAY

Very funny and very true. . .The sad thing about this is that a lot of homeowners that are borderline in their finances have a shackle in their ankles for the next 10 years or more. . calculating a slow appreciation in housing because of the lessons learned. . some people in their 50-'s maybe be upside down the rest of their lives!

Not a good thought . . when life is so short.

Wow! You said it correctly. It's a shame. Can't add anything.

If it weren't so serious it would be funny. Sad part is that one couldn't make stuff like this up. Lenn your keen insight all along has been appreciated and right on. We need people like you in politics. Now the question is what can we do? There certainly are enough of us to do something.

The money sent to banks would have saved most homeowners, put money back in the system, consumer confidence would have gone up and the money would have flowed.

Now we sit here going further into debt, more homes going into foreclosure, more families loosing jobs, trickling down to teachers, police etc.

But the banks hire incompetant negotiators, buy other banks, continue to tax us, own 2 car firms...

Who is John Galt or should I say where?

Crazy isn't it!

Lenn, Storytelling is a unique art form that can synthesize a problem in a few words. You've mastered the art form and your readers appreciate it. Rich

Hi Lenn..you are I are on the same page...I actually had a short sale negotiator tell me my clients were not "bad off enough" to approve the short sale... can you imagine.

Lenn, talk about "in a nutshell"...thanks for articulating the frustration so well. We're in the twilight zone, and the bombs just keep dropping. At what point do we continue to watch this debacle and finally decide that it's too much trouble to argue? When we're all bankrupt? It seems like THAT is the objective on the part of the banks.

At this point, for many, banks are simply throwing dirt on the grave, with the gov't providing the shovel. How utterly disgusting.

Lenn...

Hmmm I wanted to comment, but you've pretty much summed it up. As an aside, I've been trying for days to find some one at a former lender now part of a big national bank to look at a short-sale offer with no success.

As long as they have the money, they could care less.

Nicely put so even a caveman can understand it.

Fernando. BINGO! The entities in power have not thought that far ahead. They live for the moment or their next PAC check.

Kenneth. Thanks. I could have added a lot, but sometimes . . . . . .

Lee and Pamela. We have one voice, the NAR. Sadly, they don't speak to the issues, only sales.

Missy. Congress doesn't real Ayn Rand. Congress doesn't read except for their individual campaign budgets.

Stacey-Ann. Crazy is the word. If we weren't witnessing it, we'd think we were reading a novel.

Richard. Thanks. Thanks too for this little soap box.

Konnie. Truth is, indeed, stranger than fiction in real estate these days.

Lenn...

I'm speechless, that's the simplest and the best explanation I've ever seen. What I can't understand is why the powers that be can't see any of it.

Tim. We, the simple minded, understand. Congress, OTOH, cannot read, only count.

Laurie. You're right on target. It's the twilight zone. Sadly, the measures being taken to "cure" our economy are like throwing gasoline on a house afire.

Richard. That, my wise friend, is the bottom line. They GOT our money and they don't even have to care.

Politicians and bankers - playing with the lives of so many people but they are comfortable with their big money, fancy meals, celebrity and the like. Why help the commoner? After all the less fortunate had a chance to make better choices. Nice post - send it to Nancy Pelosi!

Lenn -

That old "trickle down" theory. It doesn't work!

Thought we learned that from the Ronald Reagan Days!

DEAN & DEAN'S TEAM CHICAGO

The Bush Administration followed through on their no regulation theory when they started the Paulson Plan that not only gave money to the banks, they gave them carte blanche to do what they wanted with it. We now have a new administration following up on TARP, and a Congress heavily lobbied by the banks using, wait for the dripping irony, the money given them by the taxpayers to defeat any help for the homeowners. If I am going to get screwed this badly I at least want dinner.

Lenn,

Thanks for clarifying what far too many are unwilling or unable to acknowledge and/or admit.

While I try very hard to stay positive, I fear as I have never feared before the direction our country is headed. Personal accountability is rapidly becoming a thing of the past.

I think that we should have seen the beginning of a real problem when the current head of the Treasury admitted to not paying his taxes.....but only when he HAD to admit it. Now HE is overseeing the biggest highjacking of our financial system which, if it weren't so scary, would be comical.

People need to get their heads out of the clouds and realize we are at the start of a very slippery & scary scope.

Thanks for all you do and for being a voice of reason!

Edith Schreiber - Dallas, Texas

I enjoy your posts and the fact your trying to educate the public. I just hoping a few more catch onto the reality of the mess.

Lynn,

Very good. And so another chapter in the madcap antics of our US Congress ... :)

Steve

Lenn--Another of your "to the point" commentaries on the situation at hand. Bravo! :)

You couldn't have said it any better.

I also agree with Missy "The money sent to banks would have saved most homeowners, put money back in the system, consumer confidence would have gone up and the money would have flowed"

Lenn,

There is live video of the President's Economic Advisory Board today at 10. I am going to try to watch. I really do not, absolutely do not, understand the focus on large banks. The mindset of the elite is banking. From the start Paulson and Bernancke and Bush, and now Geither and Bernancke and Obama. Add in Volcker.

Banks, banks, banks.

The importance of banks must be something other than, more profound, than this recovery. We are saving the banks and not homes and not jobs.

What is up?

Richard

In my heart I agree with you. But I have seen stuff that shows for every dollar we get we make 1 dollar but for every dollar a bank gets it generates 8 dollars. Now so holding my nose maybe this is the way to go. But again in my heart I agree with you

They gave the banks too much money. You cannot throw money at a problem and expect to fix it. The banks have kept the money and purchased other assets. I believe the banks are holding on to properties to create consumer confidence. What are your thoughts?

I'm with Charlie on this one. In my heart, you hit it perfectly. But there is another side, which is he spells out.

Gary. Thanks. There's not one person in Congress who has articulated anything that leads me to believe that they have the slightest understanding of the housing industry, or the American economy for that matter.

Dean. I'm not sure that's a good example. Reagan lowered taxes and put cash into the economy. The present Congress and Executive departments are putting cash into banks that is borrowed money or tax money. Big difference.

Joe. The Gramm-Leach-Bliley Financial Services Modernization Act was signed into law by Democratic President Bill Clinton on November 12, 1999. That is the legislation that permitted the financial industry to deal with the Devil through the off balance sheet financial instruments that caused the collapse of the housing industry.

Edith. The fact that Timothy Geithner is the Secretary of the Treasury makes a total mockery of the entire executive branch of the government.

Mark. I don't expect many in the public to understand. That's why they elect representatives who are supposed to understand. The representatives have failed and thrown their loyalty to PAC contributors.

Steve. "Madcap" is a good word for their antics.

Teri. Thanks. We need to do this regularly.

Tere. I agree. If we didn't have 20,000,000 upside home owners, we'd have a healthy real estate industry, the banks would have loans to make and folks wouldn't be in foreclosure and bankruptcy.

Richard. Banks, banks, banks spells banking lobby, banking lobby, banking lobby.

Charlie. How's that theory working out???

Harry. I believe the banks are holding on to the money to satisfy their balance sheets and satisfy their shareholders.

Sally. I disagree. Banks should succeed or fail based on their own profitibility. When banks are failing due to bad investments, they should go under. Isn't that what the banks tell home owners????

Lenn,

That about sums it up.

I am still amazed that homeowners are being placed in the "irresponsible" category for 1.) buying a home and 2.) in some cases using an ARM which is the same type of loan product that Alan Greenspan was an advocate for.

Mark. Ironic isn't it?

Lenn,

This is so cute, and True. I have to say Amen!!

If it wasn't so sad I would be rolling on the floor laughing but it is true and sad for all of us. Thanks for the post as always Lenn

What a wonderful post for congress to see. All that we have seen is feel good legislation so that Congress can pretend that they have acted on the consumers behalf. It's purpose wasn't to help but to make congress feel better!

Lenn,

Good one! The U.S. taxpayer is absolutely being taken to the cleaners. When are we going to get so fed up that we say, "That's enough!" As a culture, we seem to have forgotten (or never been educated about) the fact that the government supposedly derives its power from us.

Lenn, I had a short sale denied this morning because the sellers are making too much money. I agree. But.....the sellers have been trying to sell and relocate for almost 2 years. They quit making payments a year ago. They 200k on a house worth 60k. They will now be foreclosed on and will drag neighborhood values down even further. Why not just accept the short sale now? It all sucks!

Lenn, That was very good and very true. I found it very funny. Banks and lobbyist are looking after there own interest. If they really wanted to help with the housing crisis they would give money to consumers to buy property and help those whose property has fallen in value not become subject to short sales and foreclosures.

Lenn, great post and very true. I have to agree with BB's comment above - It all sucks!

Lenn, long ago I gave up expecting politicians to act responsibly. You've done a great job describing what actually happened in the bailout.

Funny and TOO true. I like the illustration. There's no help for the millions who struggle to make ends meet, but still manage to pay their mortgages.

Lenn, you always manage to put into words what so many of us think and feel. When are you going to run for office so that you can go to DC and kick some butt???!!! LOL

Good Morning Lenn,

...so well put, sad but true.

Patricia Aulson/Portsmouth NH Real Estate

Cheryl. Thanks. Sadly, you're right.

John. Agreed.

Paddy. Just keeping the issue alive.

Kate. BINGO!

Bryant. Scenarios just make us want to scream and understand that there is no help for homeowners as long as Congress protects the banks and the banks toss the homeowners to the wolves.

Eric. 2010 or 2012 or 2014 or. . . . Sooner or later. Although, it's going to be harder and harder if the power grab now under way is successful. We'll be baaaacccckkk.

Jimmy. Right you are. If the $Trillions that went to banks had gone to the consumers, the mess would be over by now.

Patricia. Thanks. I keep trying.

Connie. Congress is corrupt. Not a neighborhood where I'd want to work.

Clear, to the point and spot on. Sad but true.

Lenn, I'd rather laugh than cry, so thanks for the chuckle. You're right, too, about the public not understanding what's going on out here in real estate world. I try to explain, when asked, and people look at me like I seriously must not have a clue because the news I relate to them MAKES NO SENSE.

I didn't see you in that meeting last week but you captured the essence of the discussion. The focus is shifting from blaming ignorant home buyers to the lenders that should have known better (and the legislation that gave them the incentive to act inappropriately). Now banks have taken all the bail-outs and still no money flows to the consumer. Still no meaningful work-outs on short-sales. Still no mitigation relief for soldiers and others forced to sell at a loss through no fault of their own. Along with much of the rest of the industry, banks need to be re-invented or at the very least, get back to the business of being a bank. Will that happen? I think you characterization is pretty much dead on, as usual.

Lenn- Not much to say but I love it! Well, actually I hate it, but love how you took the whole mess, consolodated it and just as in a Banks Foreclosure 23 page addendum.."you have no rights, sign here"....amazing isn't it?

HI Lenn,

We are currently refinancing a customer from 6.87% to 5.25%. It has taken 30 days to not be finished yet...Stinks! Excuse, Wells says they are too back logged with other loans, and that purchases get moved to the front! Bad part, customer said to me TODAY, "Darin, would it help if we just didnt make our payments on time??" OMG...I almost threw up!!!

Nice post Lenn! Now that they are FINALLY figuring out how to legislate MODIFICATION companies, I think in 6 months, we will REALLY have a much more true picture of where the F/c's, mods', new loan programs etc....all truly fall!

Thanks!

Darin

Unfortunately, we don't elect the people with good sense to office, only those who have money, are well connected, etc. Not that leaving the Republicans in charge would have made any difference for the better, but I would have thought that actually helping real people and not the banks would have been the new order of the day...

Thanks for the great post - and the wonderful way you wrote.

Anna. Sad but true is the story.

Gene. No. You won't see me at any of these NAR "events". I admire folks who go, but I just can't any longer force myself to do it. Between the driving, the parking, the getting around, the sitting or standing through a speech when I can never understand what they're saying is more than I can do. We get the speeches anyway. I have no admireation for any of the speakers.

Kathy. What the banks are getting away with is, indeed, amazing.

Daren. How many more American home owners will have lost their homes in six months?

William. Indeed. Especially when they see that what they are doing is not working.

Alice and Jim. Thanks for stopping by and participating.

Lenn

Congress is blind and relies on the advise of people with vested interests...

Paul. Yep. Best Congress money can buy.

Lenn: People who cannot afford to make payments (for whatever reason) is one problem. I actually think extending the length of the mortgage and reducing the rate is a great way to help people in this situation.

People who are trapped by a negative equity situation (for whatever reason) is another problem.

These reasons for both of these situations are varied, so knowing who to help (as is clearly evident) is an administration nightmare.

What they have in common is that both of these can lead to foreclosure and foreclosures are damaging our industry and the economy.

As you know, banks are all about risk. If the homeowner does not need to assume the risk that the house will go down in value, and instead the lender assumes this risk, the price of this risk will be higher rates for everyone.

I agree the tax money has not been spent wisely, but shutter to think of the day when all homebuyers are sold "GAP insurance". (If you need to sell your house and it won't bring the price to pay off the loan....gap insurance will cover that!)

How much do you think this would add to the cost of every transaction??????? Or would you rather lenders absorb this cost and put it in the rate?

Or do you think this will never happen again?

Lenn: "Don't get me started!"

OK, I'm already started... I'm baffled. I'm divorced, own a condo, have always been financially responsible. I've always tried to live within my means, even if that meant waiting. I was taught to save my money for the things that I wanted.

We don't seem to have the money to bail out the homeowner or give them a helping hand, yet we throw a few billion here and a trillion there at the institutions that totally failed us as customers and stockholders etc. And on top of it, we seem to come up with billions to give to countries around the world that owe us trillions and don't even like us.

Did I miss something here? If I were totally unresponsible, ran my family into unrecoverable debt, made everyone's life around me miserable, defaulted on my loans, and ran every credit card I could obtain to the max with no intention of paying it back, then would I be a candidate for help?

My Dad use to say: You want to be able to walk into any room any time no matter who's there holding your head high because you're honest, you care about people and it shows, and you live within your means. That's Freedom...

Rene. I am of the opinion that the consumer, American home owner who is upside down with their home is a victim of the Wall Street Gangs and Congress that let the investment banks own commerical banks, design the loan instruments that were securitized sold around the world to ivestors who gambled that the American home owner would always make the payments on the homes and that mortgage backed securities, their hedge funds, etc. would always be safe.

Sadly, the American home owner didn't keep up with the payment acceleration, lost their jobs, got a military transfer, job transfer, etc. and needed to sell.

They can't so they go to short sale or foreclosure. Little help for those victimes of the Wall Street Gangs.

Lots of help for the Well Street Gangs.

Janet. The low interest rates aren't curing the housing industry. It's all on the backs of the American home owners. They are left to sink or swim on their own.

How's that working out???

Lenn: A cure does not work overnight. And sometimes the cure is worse than the disease.

Maybe Americans need to take swimming lessons and not expect the Feds to throw them a life jacket.

Lenn,

In the title to your post you mentioned "catchy titles". The catchy titles did not really get enough play in the post, but I wanted to make sure that you know this.

We no longer refer to the $700 billion as TARP funds. The money was never used for troubled asset purchases to rehabilitate delinquent loans, as advertised.

So we have decided to refer to those funds asf EESA - emergency economic stabilization.

More accurate title for the funds, even though the two were separate legistations.

But take heart. A new troubled asset program is in the works. Just wait.

Richard

Lenn, the trickle down, never trickles down to the consumer unfortunately. Lots of homeowners under water.

Janet. Not to worry. The American home owner has very low expectations of help from any source. They're just treading water watching their friends and neighbors drown and wondering how long they'll last.

Richard. Thanks. I understand. Of course, when the government wants to transfer a few $Billion of our money to major political contributors, they can call it anything they want. The American home owner is not deluded into thinking any of it is to help them keep their home.

I've got a short sale now that the lender won't even look at. Not because there isn't a financial hardship but because they want the sellers to do a loan modification instead. It doesn't matter how many times they modify the loan, two unemployed sellers who have tapped out all of their savings aren't going to be able to make the payments. They are getting ready to move in with family. We have a ready willingly and able buyer. It is just STUPID!

Cindy. Interesting. I wonder if the lender is one that received money from Treasury??? If so, the owners should write their Congressman. At least they will have exercised their small voice. I'd be interested in any response.

Lenn - this is very true and just sucks - wonder when they might get it right.

Courtney. This may take some years. The American home owners has been thrown under the bus. They've got a long recovery, years and years.

One of my first posts was on the stupidity of the $700 Billion Bailout and how it was used. At the time, there were approximately 50 million homes with a mortgage. If every mortgage holder was given $14K, it would have been a more effective solution than what they've done so far.

Unbelievable, absurd, mind-boggling mess, isn't it? And unfortunately there is plenty of blame to go around everywhere. It reminds me of the comedian Ron White's statement ... "You can't fix stupid" ... and it seems like there was a fair amount of it in so many places.

What ever happened to common sense or moderation???

Gene Mundt, Professional Mortgage Banker www.genemundt.com Chicago Bancorp

Lenn did you e-mail this to your Congressman and Senator??? It would be interesting to see how they would reply :)

Lenn - When will Rod Serling be coming on to tell us what this week's episode of the congressional Twilight Zone is going to be about. "What you're about to watch is a nightmare....." Laraine

While we can see the humor in how you wrote this, it is a very sad statement as to how this situation is being handled. Logic and reasoning are thrown out the window like yesterday's trash and replaced with the old "you scratch my back, I'll scratch yours" attitude! Typical politics being played out in which the consumer gets the shaft!

From your psot: "CONSUMER: "How is giving money to banks going to help home owners?""

The intent never was focused on helping home owners. That was only the "spin" to get support for the legislation.

Ha enjoying reading all the comments.

You tell it EXACTLY like it is! It's astounding how much of the obvious does not appear to be obvious. I enjoyed reading this post and only wish I was reading on the front page of national news---oh, maybe I am!

I tried to do the math on how much each person in the US would get if they split the money up equally but my calculator didn't have enough zeros so giving it to the banks must be the best way to throw our tax money away.

Sorry, but giving the money to the American homeowner wouldn't have yielded a better result. It would have been getter to not give ANYONE any of that money and cut the stupid budget by a couple trillion dollars. The failures HAVE to happen. The banks need to fail and so do the homeowners.

Lots of interesting comments on this one. Banks need to be held accountable the same way homeowners are.

The Making Home Affordable program is such a joke. I spent two hours on the phone with Countrywide and they insisted that they don't participate in the Loan Modification part of the program. I spoke to a HUD counselor who told me that, of course they do, but they won't talk to the consumer, you have to go through a non-profit counselor, who knows who to talk to at Countrywide. They make it deliberately difficult for the homeowner.

Lenn: I think you about covered it here.... It is a shame the banks get this money and use it to buy other banks and not help the homeowners as it was intended for.

Lenn, I haven't read all the comments yet; I'm looking forward to it.

You described the situation so well. I want to print it out and mail it to ALL my elected officials.

Thanks.

MAY

Hi Lenn, Enjoyed reading this. This new census coming up should be very revealing and I would expect that your conversation will be replicated often on any number of other issues affecting homeowners. It must be apparent that homeowners are not the majority of the electorate that we might have thought they were. "Let em Eat Cake". Or Not! LOL.

Sounds like a terrible line but there is a section in the Constitution that does address contracts and the authority that the Federal Government has in modifying private contracts. (Basically... none.)

Of course... the majority of Congress has pretty much trampled all over the Consitution anyways...

Regardless... it's only a matter of time before the dollar is worthless and the Fed is in a mess. California is a perfect example of what will eventually happen if the spending continues...

July and August are going to be really interesting when a little over a Trillion is needed...

Roger. What does that come to? About $800Billion? That's a lot less than they handed out to the Wall Street Gangs.

Gene. Moderation is how the government treats home owner relief. Stupid is how the government has burned through about $3.5Trillion of our money.

George. I don't e-mail them. I send registered mail.

Lariane. Isn't it the truth? When I hear of the money going to the very entities that peddled the securities, all of which the government is now indemnifying them from losses, I want to wake up.

Cris. You are right on target.

Judi. Of course. I never could make the stretch either.

Missy. Thanks. As always, the comments are more interesting than the articles.

Mara. I know from my conversations from media that contact me for info that they do not yet have a handle on this debacle.

Terry. I've done the calculations many times. Just drop 6 zeros, do the calculations and then add them back manually. To compute these numbers you have to go back to pen and paper. Our calculators are too limited. That in itself is a joke.

Lane. THAT WOULD HAVE SUITED ME JUST FINE. It was throwing the American home owner under the bus and giving the American home owners' tax money to the banks that is so stupid.

Dana. Agreed. The American home owner is paying for their mistakes with the loss of their homes, credit and financial security. The banks are paying with a little bad publicity.

Gail. "Making Home Affordable" is one of the catchy phrases I referred to in the title to this post. That and about $4 will buy a cup of coffee at Starbucks. BTW, the "non-profits" that HUD refers to includes ACORN, one of the corrupt organizations that helped put Obama in office.

Roland. Why are we surprised?

Andrew. HA! They'll either not understand it or will have contempt for it.

William. AH! The census. That too, will be a vehicle for governmentspeak. The percentage of "representative" numbers will grow to the percentage of real counted persons.

Paul. The federal government trashes contracts regularly these days, except for the between a home owner losing their home and a bank.

Thanks Lenn, a wonderful post about the current situation. Will they ever wake up and fix this problem?

Lenn - Love this! I would love to see what action NAR is taking on the equity issue. When the new short sale plan came out, was I the only one going ahhh, this has always been possible.

Yes, being able to do a short sale does help but hello it still ruins your credit, you still lose your home.

I don't get why the banks are so willing to do a short sale or foreclose vs reducing principle as part of a loan modification. Ah, can you say tax write-offs.

Most homeowners who are in trouble, I feel comfortable saying, want to keep their home. Yes they have to take responsibilty as well. Pay the banks once they begin reducing principle to the current market value, if the homeowner sales within a certain time period then they have to pay back a %.

The solution is really quite simple. So we as consumers should be asking as you are here why the hell isn't it happening.

It would be funny if this were not right on point. I came across this blog thru your NACA post.

Lenn,

Sound bites to homeowners is sadly right on. We have seen all sorts of rescue programs emerge from the halls of Washington and one after another so far they've been busts.

MAY

RR was right. Government isn't the solution, it is the problem. Not that the banks are any better.

MAY

Lenn,

Buy a home with a mortgage and you sign a contract that if you don't pay the mortgage, the investors lending the money take the home back.

Do the investors that lended the money really want to own the real estate? NO

What is their other choice?

What's the problem here?

The Federal Govt. using money that they don't have to give back to their biggest campaign contributors.

And whose fault is that? The people who elected these Bozos to begin with.

If my tenants don't pay rent... should I rely on the Govt. to pay me for their missed rental payments or do I go through the process of eviction and suck it up?

All of this money that was lended out for all of these mortgages is real money invested in by real people that are also getting screwed.

Should we Bail them out?

We keep all of this crap up, I want all of my money that I lost back in 2000 from the Tech Bust.

Where does it end?

What about all of the other people that have lost their homes and have moved on?

Should we send them a check?

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