Today the Huffington Post came out with a great article to encourage Americans to take action - non partisan, populist action - and put their money into small community banks and get it out of the Too Big To Fail Bailed Out Bully Banks -
Read the article here: Move Your Money - A New Years Resolution
Watch the video:
As HUD announced on December 21st by stealth just before Christmas release of their new rules to punish homeowners who seek a short sale as their solution (unless the primary wage earner had died or been subject to a extended uninsured illness)
Homeowner options are increasingly narrowed to the new loan mod debt slavery option whereby they pay up to ten years interest only before being moved into a new 30 year fixed rate at the inflated prinicipal balance amount of the mortgage. We call this “how to pay $1Million for a $200,000.00 house”.
It seems Congress and the government are capitulating to the big banks rather than protecting the people. The same people who cannot get a prinicipal reduction are being burdened with the taxes to pay for the banks losses. Time to help the government and the banks understand that this is not an acceptable option…
See Sean O’Toole’s article Who’s Robbing Who? to learn more about how the banks are getting out from under their own over leveraged purchases while telling the rest of us we are stuck with the debt.
Tags: Add new tag, Bailouts, Bank of America, Banks, Chase, Citi Bank, community banks, Credit Bubble, Goldman Sachs, Government Programs, housing crisis, JP Morgan Chase, Lender's Shady Practices, Short Sales, too big to fail, Wells Fargo
