The Calif. Legislature OKs homeowners' bill of rights yet, another homeowner - half measure - rip-off.
Reposed homes - on the average - sell for half of what homeowners owe. So why is that cut in equity not passed on to homeowners? As lenders continue to profit in the trillions, the government keeps encouraging repossession instead of helping homeowners stay in their homes with reduced loans, and payments that reflect what would be paid by buyers that buy the reprocessed home.
Some might say: What the heck, the government should help people stay in their homes? Yes, THAT IS THE BILL homeowners need! A to stay in their homes: a forgiven equity bill due to loss because of lending institutions rip-offs.
Homeless people cant’s work or pay taxes. Homeless families cannot forge ahead. Tax revenues should not be used to support white crime. People need jobs to pay their mortgage. Mortgages and payments need to be reduced to reflect the job market. Taking homes and jobs from people cannot be rewarded. Job loss is due to corporate greed outsourcing and insourcing.
The financial industry made like bandits on the backs of homeowners, and now the government keeps rewarding them! People are thrown in jail for stealing, but corporations go scot-free for ripping people-off?