I started DoBanksCare.com to express the frustration I have been seeing with the credit & financial crises since late 2006, and with the bailouts approved by Congress, President Bush and now President Obama since around October 2008.
As a former real estate and mortgage broker I know firsthand what I and my customers having been going through: underwater mortgages, non responsive banks, bad credit, high and adjustable interest rates. And with no one to help us get out of this mess.
Since November 2008, our government has given billions of dollars to banks and other institutions and what have we received? I thought then, I argued then, that we are acting too fast and without much thought. I wrote my Congress representatives (Senators Feinstein & Boxer, and Congresswoman Pelosi). But the responses where that they knew what was best.
But the economy has not gotten better. I have writing the CEO’s and Presidents of Bank of America, Wachovia (now Wells Fargo), Washington Mutual (now Chase), telling them what my former customers are going through and that a reasonable mortgage relief/buyback program is needed. But they tell me that they have no power to do so.
And all this time, they get more and more money from us.
I hope they realize that when a bank forecloses on your house, that that just begins the next nightmare of renting. Most landlords will get a credit report on the potential renter and will then not rent to them due to the foreclosure which has ruined their credit.
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