The Making Homes Affordable Program is sketchy to say the least. The same is true with a lot of loan modifications offered by the banks. The Banks are taking our money without disclosing the terms. They make people wait long periods of time before getting any paperwork. They demanding that you call in your payments which in some instances do not post for weeks and they are not applying the payments on our statements.

In the meantime home owners are getting notices of foreclosure and accelerated payments that are due in full. I know of one case in my community to where the bank sold a property at auction while the home owners where making their trial payments. The new owner allowed them to pay rent while they found a new place to live. For now they have filed a law suite on the bank to get their home back.

Federal laws need to be changed in favor of the consumer.

Take for instance consumer rights with mortgage companies, such as Bank of America, Wells Fargo and others.

As you well know the banks are selling our homes out from underneath us at half the price of what the original loan was worth.

If the Banks are allowed to do this, then why don't they negotiate with the home owner.
Notice I say Home, the banks call it Paper!

The banks are hurting more then just the home owner.

When a home is sold at auction at half the price then the tax assessment is lowered which not only effects the over all community but also hurts our County's income, mostly effecting our rural areas and services like the fire and sheriff's department, our roadway's, library's, county parks and other affiliated services.

Every time a Bank forecloses on paper, people are being left homeless, the community suffers, the State suffers and so does the County in which we live.

Withholding information, in some cases is considered lying:

The Banks are withholding information which the consumer / home owner should have access to.

I am the owner of my home, my Property Tax Statement proves it!

When I look at my Deed of Trust it says that the Lender is Countrywide. When in Truth Countrywide is only a servicer which was taken over by Bank of America who is only a servicer.

It shows that Mortgage Electronic Registration Services is the Beneficiary.

None of these sources are the actual Note holder.

When I read the note on my mortgage, it refers to the Note Holder as the Note Holder only.

If I ask My Servicer “Bank of America” who the note holder is they refuse to answer and withhold the information.

There should be a law passed that allows home owners the right of discovery, especially when paper trades hands so the consumer can deal directly with the note holder and get rid of these dishonest servicing companies and or banks that are selling our Homes out from underneath us.

Or there should be a law passed that when ever a note changes hands that the deed of trust be up dated with who the current note holder actually is.

The Banks are to well protected and the consumer, the home owner has very little protection when it comes right down to it.

All and all the Banks are still lying to us, they over inflated the values of our homes, gave out monies, then have misappropriated funds that bailed them out, they killed our economy, jobs were lost, people have struggled, the government again has given them programs to deal with the consumers that took out their loans, these programs are being abused and give false hope, while people are still losing their homes.

Interest Rate Hikes.

Supposedly our Government was supposed to do something about the high interest hikes that Chase and other credit agencies have imposed on the consumer and so far the consumer hasn’t seen it. When is our Congress going to do something about it!

There needs to be change and our government needs to really do something about it.