Dear Mr. President,

I lost my job just over a year ago with Citigroup.  My husband is still employed and earns a decent living ($85K per year).  We have cashed out all of our retirement funds and our life savings to stay in our home in Stockton.  We purchased it 3 years ago for $425k and it now worth $100k.  We have been trying to work with our lender (HSBC) to do a loan modification so that we can stay in our home.  After many weeks of calling and no return calls, I was told today by a loan specialist that:

"We would rather auction your home off and get $100k for it now than work to keep you in your home. There is more money in getting you out than modifying your balance and interest rate. That is just not in our tool box at this time."

Sir, I would repectfully ask where all of the bailout money has gone?  We are both 50 years old and facing losing our home to a bank who simply does not care that we will be out on the street in a matter of weeks.  How can this happen when we have met our finacial obligations all of our lives and cared for our credit until this crisis.  We were NOT a sub-prime loan.  I lost a $100k per year job in the finacial services industry and cannot find employment anywhere.

The Bail-out is robery if it does not help people like us who have paid taxes all of our lives, raised families and are now facing the unthinkable!  Please advise...

Gina Avalos
209-405-1045
 

It appears that somany people that have the same or similiar ideas are speading this need then. I too have similar concerns and a great idea to resolve it. Despite this it and others like it lanquish near the bottom while bullet trains top the list. go figure!


We need to vote up each other ideas ( I have voted your's up.

Please see this one and tell me what you think! 

http://citizensbriefingbook.change.gov/ideas/ideaList.apexp?c=09a800000004fo6&lsi=5&u=00580000001mhLd&me 

Titled Create Idividual mortgage Accounts to compliment infrastructure spending

                                                                                                                                                                 Dear Mr  President  and   Fellow      Citizens                                                                                                                             Disposing of foreclosed houses are more important  in some areas    than  
trying to stop foreclosure. HUD  had a very simple system of disposal which worked
very well during the savings and loan  era.                                                                                Going back to this centralise  simple direct system which  allow home buyers , real state agents,mortagage brokers,investors, charity organzations ,local ploice and teachers to have quick and easy access  to these units could be the most effective action yet.