It is a national disgrace that upside down and struggling homeowners are still waiting (four years later) for much needed relief when $45 of the $50 billion budget is sitting on the sidelines waiting for servicer (bank) approvals. The banks are applying the Romney Plan of letting housing hit bottom by kicking struggling homeowner out.
Why is this important?
My home has lost 30% of it's pre bank caused housing bubble value. I am a virtual prisoner under house arrest. I cannot sell my house and pay off the bank loan at the same time. Banks working on behalf of Freddie Mac, Fannie Mae, and other investors will not use forbearance to help me rebuild that equity. Servicers will simply delay, delay , and delay some more before they simply say no any help of any kind. But if are unlucky enough to fall behind on your payments, they will swarm on you and race to foreclose on your home.
