To: President Donald Trump, The United States House of Representatives, and The United States Senate
Principal write down on underwater mortgages
It's time to write down the principal of the 15 million homeowners who are stuck with underwater mortgages. We simply bought a home at the wrong time (2005-2009) when the financial sector had manipulated the market. Now we're paying too much for a house that is worth nothing, and the banks and our government isn't interested in talking to us. My only choice is voluntary or involuntary FORECLOSURE.
Why is this important?
President Obama, our government, and especially our banking system has done nothing to help the 15 million underwater homeowners in this country, who simply bought at the wrong time and have fallen victim to Wall Street's manipulation of housing and the financial system. Folks like me are pouring money into a house that won't have any value for a decade or more. Our only option is to strategically default and be foreclosed upon because the banks will not work with us. Please write down the principal of these homes so that we can stay in them and are motivated to take care of them and our community.