This is some of the stuff that comes out of the dark parts of my brain.  I believe we are put on this earth not to over come our demons but to organize them.  To keep them in the back parts of our mind subdued, caged and never to be acted upon………..

Until Now!!!!

Stop Paying Your Payments -

Before I explain why, let me provide you some background.  Everyday nice people, having terrible luck call my office looking to me for help solving their housing situation.  Most of the time I can, some of the time I can’t but today’s call pushed me into that nasty part of the brain.

The couple lets call them my couple, owned a business that made good money over the years.  In late 2008, five of their largest clients went bankrupt.  Those clients actions meant a huge down turn in my couple’s business receivables.  They tried to hang on for as long as they could.  They sold assets; cash in retirement funds everything they could to stay afloat.  They retold stories of eager creditors making all sorts of threats in order to collect the debt.  Those stories reminded me of my early career when things were looking bad, those calls are not fun.

Today the good people of America like “my couple” have a wonderful program called HOPE for Homeowners.  This program will help Americans keep their homes, Right?

WRONG!!

CNN reported about a month ago that 300 Billion has been set aside for this program.  HOPE allows people like my couple the opportunity to refinance their old loan into a new and affordable loan.  Seems like a great solution for today’s real estate market, except the reporter from CNN, found out that HOPE has received 752 applicants and only funded one loan.

One of the first requirements of HOPE is that the homeowner’s current lender must agree to participate in the HOPE program.  For giggles, I called my lender to see if they participate in HOPE.  They replied with  “we are not participating in HOPE, please make sure you get your mortgage payment to us on time.”   If the program went according to plan 400,000 families would benefit from HOPE.

What happens to everyone else?  What do the 600,000 families who are part of the “Ghost Inventory”, what do they get?  Nothing!

Let’s change gears to Chris Dodd.  If you live in Connecticut and you elect this jackass again, you should be expelled as a state. Seriously, we should throw your ass out.  How can you be the Chairman of the Senate Banking Committee and have the global economy fall apart on your watch?  Before you open you mouth Chris we already know about Phil Gramm the “de-rugulation man”.  Don’t blame him, you could have prevented most of this if you weren’t to busy getting money from AIG, which you gave back to them in bailout funds.

Who introduced us to HOPE for Homeowners?  That would be Chris Dodd.  If you going to put Madoff and Stanford in jail then you need to put Chriss Dodd away with them.

So, “What would happen if everyone stopped making payments on their debts?”  Would that smart ass at American Express find himself in a financial bind because he’s now lost his job?  Would the mortgage company change their attitude and beg you to come back to the negotiating table with your proposed loan modification?  Would our elected officials be so arrogant with tax payor money?  Would they still be singing “here a bailout, there a bailout, everywhere a bailout?”  Would we be better off if we all stopped paying and wiped the slate clean?  The decisions and fighting as to who gets what, and where, and how much is exhausting.  It makes you wonder doesn’t it

One day I will ask you to unite behind this cause but until then, I will still get the calls from “my couples” of the world and I will still buy the houses and my kids and yours will have to deal with our mess.

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