If you are a homeowner and want to unite with other homeowners fighting to save their homes, please sign the petition below in order to help us help you.
Divided we fall and united we stand!
By Richard Zombeck, the members of LoanSafe.org & Huffington Post:
So, while the banks, servicers, and lenders are waiting for American tenacity to kick in and pay up and Congress is working hard to keep their “campaign contributions” coming some American’s are banding together to help each other and telling Congress to get to work.
The members at Loansafe.org have put together a petition demanding that Congress take action:
We propose an immediate halt to all foreclosures until new, mandatory guidelines are established and that these guidelines be overseen by a new Consumer Protection Agency, which was recently recommended by President Obama and endorsed by Sheila Bair, chair of the FDIC. We also demand that these guidelines include not only a simple 31% of the borrower’s gross monthly income, but that the Net Present Value (NPV) test:
(a) be created and administered by the government, not the banks, (b) have its data, assumptions and formula published so that they may be verified by the public, and (c) be made available at www.makinghomeaffordable.govin a calculator form so that people can learn immediately, with the other eligibility questions available there now, whether they’re eligible for HAMP.
We are also strongly advocating that additional guidelines be formulated that would open the door for modifications at an even a lower rate in significant hardship conditions and for writedowns of principal when homes are severely underwater.
Without oversight and regulation banks and servicers will continue to pillage as they’ve been allowed to do for years. Hardworking and previously trusting families will be thrown out of their homes or left to pay for a home that has lost most of its investment due to artificially inflated values. Even with what’s being laughingly called a modification families are still left strapped with no way out.
Read more at: http://www.huffingtonpost.com/richard-zombeck/homeowners-hey-congress-g_b_342665.html