Occupy Wall Street draft manifesto released

[MaggieD]

I agree. Instead of forced loan forgiveness, I would like some form of modified loan deferment. Maybe not a cease payment for a period of time, but a way to negotiate to pay "what I can" for a year or so. With the result being, I pay the loan off for a longer period of time.

Yes. This. Last night I saw a commercial spot from FHA saying they now had a hotline number so people could call for foreclosure assistance. I was stunned. Up until this time, FHA has said, "Contact your lender to see what options are available to you." Now, apparently, FHA has decided that part of its mission (OMG, what a thought!) would actually be to help people who are in foreclosure. The commercial said they would contact the bank on your behalf. What a change. I looked carefully for an indication that it was a private company playing off the FHA name, but I'm fairly certain it was our government.

Where've they been for the past three years??

If all the money we used to bail out the banks had been used to help homeowners stay in their homes....reduced their mortgage by 25%...reduced their interest rate...stopped resetting rates from "zero" (yep, there were plenty of mortgages issued with zero interest for two/three years)...our real estate market wouldn't be in the toilet like it is right now.

Instead, banks used that money to simply write off the mortgages, throw people out of their homes, and then, then give bonuses to their investment bankers who bought the **** to begin with.