Where Is The Bailout Money When You Need It?

Real Estate Broker/Owner with Riede Real Estate, Lic. 01310792

Where is all this bailout money that we as tax payers have paid banks?  As a Sacramento Realtor/Broker and owner of Riede Real Estate I am here to tell you that the banks have taken our money and bought out other banks and no telling what else...but they aren't helping the distressed homeowner.

For over a year there have been TV commercials stating that all you have to do is call your bank.  If you would like to see what a typical scenario of "just calling your bank," is like you really need to watch ABC news video were Congresswoman Waters of Los Angeles tried to do just that with IndyMac Bank, Bank of America and Countrywide (was this when Countrywide outsourced these calls to India?...of course it's no better now, either). It is a joke calling the banks for help! If they treat a Congresswoman like this, how do you think they treat the troubled homeowner calling?

Watch a video that shows what it's like to call the banks by click on Where Is The Bailout Money When You Need It?

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Comments (6)

Fred Carver Personal Real Estate Corporation
RE/MAX Camosun Victoria BC Real Estate - Victoria, BC
Accredited Real Estate Consultant

Hi Gena..Wow Great Post. You Certainly put a lot of research and time into this post. Watch Out Girl, The Washington Post will be calling you to hire you are a News Reporter... Well Done !

Cheers, thanks for sharing your story on the Banks.

PS: I submitted this Blog to the Editor of the Washington Post, let me know if your phone rings, Love to Be your agent, even Better See your post on their Web Site  :O))

Feb 04, 2009 03:05 AM
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Gena,

Can't begin to tell you how many times I've heard this story...time and time again. It's no wonder people are having so darn much trouble, they're just falling through the cracks. Guess some of these lenders are either out re-decorating their offices or maybe on the company jaunts as luxury rewards.

While I realize that sarcasm is usually of little value, it's obvious business as usual is not working.

Feb 04, 2009 10:30 AM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Fred, this is such a serious issue and one that I wonder if the top people in charge are even aware of. If they are aware, than shame on them...if not, then I hope they become enlightened.

Hey, you can be my agent anytime. This is something that effects so many and needs to be addressed and changed. Unless and until we deal with all of these foreclosures, short sales and loan modifications our economy has no chance.

The bleeding MUST stop throughout America.

The bailout money should be helping these Americans, not buying out other banks, buying jets, giving bonus salaries and updating office furniture...it's our money and it's time that it is used toward helping our economy!

Thank you for your comment and your support.

Feb 05, 2009 02:27 AM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Lynda, yes we hear it from City to City, State to State...happening all over and it needs to stop.

If a congresswoman is treated as in the video, can you imagine how the consumer is treated. These same people have jobs that they are trying to hold down while going through this anxiety and it sickens me to know how the bailout money is doing little to nothing in helping them.

In the beginning there were those skeptics that said, the homeowners in trouble had to lose their homes and take their punishment but from the beginning I have professed that these troubled homeowners needed assistance since this would effect each and everyone of us.

The time has now surfaced and shown it's ugly head. It is effecting everyone of us. It has lead to the continued decay of our economy and unless and until it is rectified and stopped we will continue to see the negative effects that touch us all.

You are right, "business as usual is NOT working."

Feb 05, 2009 02:36 AM
Regina P. Brown
MBA Broker Consultants - Carlsbad, CA
M.B.A., Broker, Instructor

Gena, priceless!  I predicted that American homeowners and tax-paying citizens wouldn't see ONE DIME of the bailout $$ and would not see any effects of it helping them in their lives.  Unfortunately I was right!  I'm going to re-blog this post.

Feb 11, 2009 06:54 AM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Regina, good for you. Hope you get more visibility than I did since it is certainly a worthy topic and a congresswoman who needs all of our support.

Feb 12, 2009 02:31 AM