My kids are really mad at me. But, they don’t pay my bills. My rent is less than my payment. I am saving a lot of money on gas. And it takes 5 minutes to get to work instead of an hour. In addition, my son wanted to go to a certain school here and now he can.I am better off, it is just hard to give up something you’ve worked for and fixed up for so long. I am strong. I’ll deal with it.

But, it seems like every time I fixed one thing three more things broke. My other three kids moved out. I did not need a five bedroom house. I had five acres and I could not keep up with it. I was tired of fighting. So, I thinkI will be okay, but I resent what happened, and it is not fair to expect someone who has been wronged by one of these banks to pay one nickel to help them out. They are a bunch of crooks, and I don’t care if the economy does go to shit, I don’t want to help them out. Had they treated their customers better, they would not be in this bind.

We rented a small place and saved our butts off to buy a new home. It took 21/2 months to find a bank to write the original loan (local community bank did it! We got high marks for getting our credit score so high in two years and he was impressed because we carried little debt when we bought the house.)

It was hard work to clear up our credit but we did and recently we bought a new “used” home for under $100,000 here in Kansas. Our payment is really low because we put $20,000 down on our house. However our payment jumped slightly with no notice from our finance company…it didn’t jump to where we needed to pay $500 extra per month…about $40 per month which we can afford because real estate taxes jumped a huge amount! We found out because we got a statement of our new tax rate.

I find it hard to believe that you would have $500 a month in overages. I can see maybe $20 or so but not that much.

It happened to my friends too. Their payment jumped with no explanation from Wells Fargo (it was a real estate tax increase which meant they had to feed their escrow account more per month.) By the time they were able to track down the information Wells Fargo refused to take anymore payments from them. They wanted $10,000 to stop the foreclosure. They got a lawyer, saved all their payments and went to court. We aren’t in touch any longer but they still live in their home. They won their case….

Of course I am truly enjoying the Obamabots heads exploding…can’t wait until he is really in office.

I didn’t vote for Obama. I even knew in 2006 I would never vote for him….not after watching Patrick’s election back home in Massachusetts. I knew in 2004 that Obama would become The One The Messiah and a cult of personality…

We need to get our hands on that money before we bail out every bank and every business in the country.

One bank that isn’t taking money from the FEDS….Capitol Federal in Topeka, KS….neither are the community banks! I have more respect for the small community banks in KS who have told the FEDS to shove it!

Sometimes there will be an escrow shortage which usually means your taxes or insurance went up and the payments did not cover that ammount. It is never an escrow overage.

legally if this was the case they were required to notify you of what expenses went up buy how much and to show you that the bank actually paid these ammounts.

Im so sorry that this happened to you and yes you are right it’s not just those who knowingly got in over their heads that are in trouble. The banks are supposed to be proffessionals and adhere to certain standards. They also knew what they were doing making all the bad loans that are causing a lot of this crisis and should never have done so.

Not knowing what state you are in I can’t point you to any help but if I knew I might be able to.

In my state Washington I am aware of the laws but they are not the same everywhere.

CQ

What can we do? The people who have the power are buzy sucking up to their friends who own all these big companies. The people will continue to be screwed and big business will get bigger.

No wonder trust is gone.

CQ

If we allow them to refinance at rates and payments they can afford most will make those payments and forclosures will slow considerably helping the banks and their investors and everyone else.

Yes the banks may need to absorb some losses like the huge interest payments they should have known they would never be able to collect and even to a degree they may need to adjust some balances because home prices were so over inflated people now owe more than they are worth.

It still works though because although they would recieve smaller payments and maybe write off a portion of the balance most people know that unless you pay it off early the bank gets nearly 3 times the amount of the loan after 30 years of payments.

maybe they write off 10 or 15 grand but over the life of the loan they make plenty. Problem is they were too greedy and want to make a fortune off of each loan.

There is a reason Jesus threw the money changers out of the temple. LOL!

CQ

I tried for 11 months to work this out. I did not want to move. I’ve raised all four of my children in that house. But, there comes a time when you just cannot fight any more. The amount of the overage coincidentally amounted to the exact amount I had paid off the principal over the four years since I refinanced. So, to stay would mean I gave up every bit of equity I had. The bank would not ever work with me, though they did start wanting to discuss my loan after I stopped paying on it. Not once did they offer any concessions at all. They wanted me to refinance again with higher interest over a longer period and to include the “overage” and $7000 in new charges in the loan. Since I did not and do not believe there ever was an overage, I refused.

This all started at a time that I was paying $600/month for gas to get to work, the cost of everything was going out the ceiling and I simply could not pay what tehy said I owed, but I probably wouldn’t have anyway, because I did not and do not believe there was any overage and I never got a logical explanation for what they did.

I am reconciled to moving. I am now 40 miles closer to work. The son who is still at home likes his new school. This house I am renting costs less and I am not spending every nickel I make fixing what broke this month. But it hurts.

So, do not think that it is just those fools who fell for the banks lies who are getting the shaft by the banks. No one is safe. This can happen to anyone and if you do not have the money to fight, you will lose if they decide they want your home.

I do not want one penny of my money to go to bail out the bank that cheated me out of my home. I rightfully resent what has happened and do not feel I should be ecpected to save those who did me such harm. I do not want one penny of my money to go to ssave credit card companies either. I do not have any credit cards. If I cannot afford it, I do not buy it. I consider credit card companies to be worse than loan sharks and resent the fact that I am expected to pay them even after working so hard to excape their clutches.

I am tired of hearing from our lawmakers that Americans need to borrow more to save the banks. This economy is bleeding jobs. The cost of just surviving is exploding. People with no job security do not need to borrow more money, they need to save and to budget. And if they get a chance those same banks will bite off the hand they want us to extend to save them. Luckily, I have a good job that is not going to go away. I make enough to support my son. I will land on my feet, because I work really hard to survive and always have. Butm, I am pissed off and I am not the only one this happened to.

As our thoroughly corrupt politicians continue to hand back 7.7 TRILLION dollars to our corrupt corporations, can they at least fed-ex every single middle-class proletariat one large tube of KY jelly (or an industrial size tub of vaseline) so the BOHICA doesn’t hurt so much?

Remember when BAD business practices were honored with having their doors shut?

Companies that waste money on lavish spending get bailed out (if they grease the right pockets), and Gov’t don’t even have the decency to give worker-bees a tube of lubricant?

Bend over here it comes again – An Immodest Proposal.

That is double taxation and not right.

I don’t think you could cite or find an example of me flaming anyone who didn’t flame me first

Please…I tried to have a discussion with you the other night. I believe you said I was ignorant because I disagreed with you.

You set off a firestorm and got caught in a lie, however, I give you credit for having the courage to come back after that.

I have no problem with you detractor, but don’t dish it out if you can’t take it. If you are polite and respectful we will be polite and respectful to you in return.

TRICKLE UP economics!

Sounds more fun than another useless bailout.

first, there’s the imports, then there’s the taxes, then there’s any paying down bills or saving …

residual … domestic spending

it’s not like the good ol’ days