Today our worst fear was realized.

Towards our leaders and institutions; they are naive beyond belief. Although being used, abused and oh so confused by their so-called leaders, big media and this one-sided economic system; they keep on chuging along still wanting to believe in the american dream they are sold every minute, every day. There's a Hope Program, no guidelines, no one has been aproved because there is no guidelines, No one, Zero, Nada; there is no hope, there is no help from Mortgages, Lenders, Goverment Agencies for a responsible homeowners. Ohhh yeah but they can used our taxpayer money to bail out big Corporations, Banks, Car dealerships without helping people for who has been used and abused?. Enough is enough.!!!!!

The real whiners are that 10% of happy few replutocrats and their 90% + of the whole shabang. They are the ones we are bailing out. They are the ones constantly lobbying & amp; begging for more deregulation & tax cuts. They are the welfare corporations slaughtering US's middle class and making them feel guilty about it too… But know who should be accountable for responsible homeowners losing their homes, their jobs, the increased foods prices, Gas prices and the SALARIES GOING DOWN? Anybody said me.........Many mental-health crisis and suicide hotlines are reporting a surge in calls from Americans feeling despair over financial losses.

The escalating pace of unemployment and foreclosures rising fears among some homeowners about keeping up with their mortgages are creating a range of emotional problems. People are seeing more drinking, domestic violence and marital problems linked to Economic crisis concerns ? as well as children trying to cope with extreme anxiety when their families are forced to move. They're depressed, anxious. It's affected marriages, relationships. Sixty-one percent in the West Coast identify housing costs, such as rent or mortgage payments, as significant sources of stress.

Then Yesterday around 8.30 am were a sad event all over the news: Los Angeles man kills wife, 5 children, himself.
It's hard to understand the suicide; I do not want to judge anybody because is not on my hands to do so but my Family prayers are for the all Lupoe Family.

At the bottom of the letter, Lupoe wrote,

They did nothing to the manager who stated such and did not attempt to assist us in the matter, knowing we have no job and five children under 8 years with no place to go. So here we are.

"Oh lord, my God, is there no hope for a widow's son?" Continue reading here: Source

Today's bible verse is" 14 The LORD upholds all who fall,
And raises up all who are bowed down.
15 The eyes of all look expectantly to You,
And You give them their food in due season.
16 You open Your hand
And satisfy the desire of every living thing.

17 The LORD is righteous in all His ways,
Gracious in all His works.
18 The LORD is near to all who call upon Him,
To all who call upon Him in truth.
19 He will fulfill the desire of those who fear Him;
He also will hear their cry and save them.
20 The LORD preserves all who love Him,
But all the wicked He will destroy.
21 My mouth shall speak the praise of the LORD,
And all flesh shall bless His holy name
Forever and ever."(Psalm 145 : 14 - 21

Lenders and Banks ignoring the responsible Homeowners.

Need help from your bank before you're forced to default? Good luck with that. Conventional wisdom may tell homeowners who can see financial trouble approaching to reach out for help as soon as possible. But most borrowers trying to follow that advice are finding they can't get their bankers to discuss the options — including loan modifications — until they've missed payments.
"It is extremely difficult for any consumer who is not delinquent to even find someone to talk with at their lender," says Michele Johnson. "The consumer who is really being proactive and trying to do the right thing faces challenges that are unexpected."
A harsh reality Marvin Webb, pastor of the Bethlehem Missionary Baptist Church in Richmond, Calif., called his bank nearly two months ago to say that although his credit is good and he's current in his payments, he can see financial trouble coming. "They said they were looking for a loan they could put me in, something good. But they never got back to me," Webb says.
He called back recently. "I told them what they told me, and they still didn't have anything to say. You know, they take your number and (say) 'We'll call you back.'"

Logic suggests banks should help struggling homeowners early, renegotiating loans to avoid even-more-costly foreclosure. Ben Windust, Wells Fargo senior vice president for customer and default operations, says, "We can always work with any borrower who is having any kind of financial difficulty," even before a loan is in default. But those who work with homeowners say that, mostly, that's not happening.

"One of the really unfortunate contradictions of this crisis is that it's only when people have ruined their credit that they can get even a response from their bank," says Adam Kruggel, director of the Contra Costa Interfaith Supporting Community Organization. Part of the problem is banks are overwhelmed by the flood of people who cannot make payments. And that leaves plenty of struggling but still-current borrowers "hanging on and sometimes they are making enormous sacrifices; in some cases they are draining their entire life savings" to keep up their mortgage payments, he says.

Sean Woods was one of them. At this time last year, he was a mortgage broker in Goodyear, Ariz., an expensive suburb of Phoenix. He was earning about $12,000 a month, he says, so payments of roughly $4,500 a month on two loans for his family's home in a golf-course community seemed manageable.
Then, in February, Woods received what turned out to be his last mortgage commission payment. Record home prices in the Phoenix area had encouraged overbuilding, so prices were falling and sales were slowing. "I saw the writing on the wall," he says.
In late spring, he called Washington Mutual to say that although he was current in his payments, he was struggling. He was running through savings and using credit-card cash advances to make his home payments.
He asked to talk to the bank's loss-mitigation department. Typically, when you punch your loan number into the bank's phone system, you are routed to the bank's customer service or collection department, depending on whether your payments are current or overdue.
A collections officer's job is to recoup past-due payments and set up repayment plans allowing a homeowner to make full, regular payments plus a portion of the delinquency in order to catch up. But negotiating a lower interest rate or reduction in the loan principal is usually beyond the authority of the collection department, says Azucena Valladolid, chief operating officer at Consumer Credit Counseling Service of Nevada and Utah.

Woods says he told his bank, "I'm making the payments, but it won't be long before trouble will be upon me, before I start missing payments."
Loss mitigation basically told me, 'This loan is performing. You haven't missed a payment.' Basically (they said), 'Call us when you start missing payments.'"

In July his check bounced and his mortgage went into default. He got financial counseling and the bank offered a tentative modification offer.By then, though, he'd begun to question the value of a bank modification. What was the sense in committing to a plan without an income to support it? Shouldn't he just focus on getting work?
The big picture Like the troubled loans they are meant to fix, modification plans can include complex loan features: interest-only periods that reset in a few years, gradually increasing payments, or complicated formulas for sharing appreciation or equity. Some simply stretch the loan over 40 years reducing the payment amounts but increasing the total loan cost.

Woods, sadder but wiser, is keeping his options open. "I'm one of those homeowners that's troubled but also accepts the responsibility for signing these documents and getting into this situation myself," he says.

Today, his $597,500 home is worth about $435,000. "I paid over $100,000 in just payments for this home in the last two years and my principal payment may have went down $5,000. At some point, either you concede to be insane or you wise up and say it's better to walk away from this thing than continue to put money down a black hole."

Banks are making relatively few modifications. In the third quarter of 2008, only about 40,000 loans were modified — a small proportion of the millions of loans said to be in trouble. And 58% of loans modified this year were back in default within eight months, according to the Office of Comptroller of the Currency.

Rod Dubitsky, a banking industry analyst at Credit Suisse, says there's no consistent program or standard to help people who are struggling financially but who are still current on their mortgages. He says the government should analyze data from banks on modification agreements to see which modification plans are really working, then create a national program with uniform standards.
"The sad thing," Dubitsky says, "is that the message a lot of struggling 'currents' are getting is, 'Come back to us when you're delinquent.' I've heard it said that some servicers will coach the borrower to become delinquent (in order to get help)."

An unexpected rescue That's the advice friends were giving Barbara Quinn of Asheville, N.C., after she got little help when she called Ocwen, the company collecting payments on her home mortgage. She says she reached out to the servicer before her interest rate reset and added $300 to her house payment but "got bounced around from one person to another and really didn't get to talk to anyone who could talk with me."
Friends were advising her to stop making payments in order to get the bank's attention. She couldn't stomach that idea. "I was saying, 'I don't want to be in default on my mortgage,'" she says. "I'm not the kind of person to miss a payment."
Also, it scared her. What if the strategy didn't work? "Then you're out on a limb," she figured. "I was wondering, at 75 years old, what am I going to do? Live in the street?".

Take action and be proactive. If you run into a wall, call your Congress member and senators. (Find contact information here; enter your ZIP code next to "Find Your Officials" at the upper right corner of the page.) Also, grassroots activist groups work through the PICO National Network to press local, state and federal officials to take homeowners' needs into account in addressing the mortgage crisis.

The economy sank because some people over-borrowed for houses they couldn't afford, and financial institutions over-borrowed for investments they badly misjudged. Lawmakers solution is to borrow $800 billion that it cannot afford. How will adding $800 billion to the national debt (which will also raise interest rates) solve a recession created by imprudent borrowing? And who will bail out the American taxpayer when the bill comes due?

Are you tracing Corporate America Bailout?

No. Then just look at this link here and check for yourselves how corporate America will be Bailout and not Middle Class Americans, The people who running the economy, the peple who's always be blaming for, the people who's really suffering, The people who's paying taxes, If a business can't survive without taxpayer money they deserve to fail but Hundreds of banks and a handful of insurers and automakers have applied for funds from the Treasury Department as part of the $700 billion Troubled Asset Relief Program. The Treasury Department has transferred capital to the majority of these companies as Taxpayers expenses.

Where's accountability and responsability? Are we there yet?

If you owned the bank or Mortgage company money do you think they'd give you a break to pay an overdue bill or would they ask you to live the house and file for bankruptcy?
We need to Understand there is no such a hope, a help, a bail out for American Taxpayers, Citizens, workers, middle class americans. The sense of Hopelessness are at the tip of iceberg for Power, political purposes and Money. That's ashamed.

Rising depression. Suicide rates for the Mortgage crisis. No Help at all for middle class americans.

Towards our leaders & institutions; they are naive beyond belief. Although being used, abused & oh so confused by their so-called leaders, big media and this one-sided economic system; they keep on chuging along still wanting to believe in the american dream they are sold every minute, every day.

The real whiners are that 1% of happy few plutocrats and their 90% + of the whole shabang. They are the ones we are bailing out. They are the ones constantly lobbying & begging for more deregulation & tax cuts. They are the welfare corporations slaughtering US's middle class and making them feel guilty about it too…

There’s this big squeeze on the nation’s workers, wages have been flat, health and pension benefits are getting worse, at the same time corporate profits have gone up very, very nicely. Employee productivity has gone up 15, 20 percent, yet wages have been flat, plus companies are pressuring workers, you know, to work harder and harder.

And that’s part of a broader health crisis in the nation, where, since the year 2000, even though we’ve had pretty good economic times until the last few years under the Bush Administration, nine million more Americans are out of work than was the case in 2000. So now, almost 50 million Americans, nearly one-sixth of the workforce, is uninsured. And you think how crazy that is, in ways. You know, we’re the world’s wealthiest nation, yet one-in-six workers are out of work.

Wall Street is exerting much more pressure on corporations to maximize their share prices, as you know, which means maximize profits, which often translates into lowering costs and especially lowering payroll costs. So a lot of managers will say, you know, the area where they have most flexibility to reduce cost and increase profits is on payroll. So that’s why we’re seeing all these waves of downsizing and Suicide is becoming an increasingly popular response to debt.

For more than two decades, the couple had lived in their three-level house, where the elms outside blazed with yellow shades of fall and their four golden retrievers slept in the yard. The town had always been home, with a lazy river and rolling hills dotted by gnarled juniper trees.

Yet just before lunch on Oct. 23, the Donacas closed all their home's doors except the one to the garage and left their 1981 Cadillac Eldorado running. Toxic fumes filled the home. When sheriff's deputies arrived at about 1 p.m., they found the body of Raymond, 71, on the second floor along with three dead dogs. The body of Deanna, 69, was in an upstairs bedroom, close to another dead retriever.

"It is believed that the Donacas committed suicide after attempts to save their home following a foreclosure notice left them believing they had few options," the Crook County Sheriff's Office said in a report.

Their suicides were a tragic extreme, but the Donacas' case symbolizes how the housing crisis is wrenching the emotional lives of legions of homeowners. The escalating pace of foreclosures and rising fears among some homeowners about keeping up with their mortgages are creating a range of emotional problems, mental-health specialists say. Those include anxiety disorders, depression and addictive behaviors such as alcoholism and gambling. And, in a few cases, suicide.

Crisis hotlines are reporting a surge in calls from frantic homeowners. The American Psychological Association (APA) and other mental-health groups are publishing tips on how to handle the emotional stress triggered by the real estate meltdown. Psychologists say they're seeing more drinking, domestic violence and marital problems linked to mortgage concerns ? as well as children trying to cope with extreme anxiety when their families are forced to move.

"They're depressed, anxious. It's affected marriages, relationships," says Richard Chaifetz, CEO of ComPsych, a Chicago-based employee-assistance firm that is counseling homeowners over mortgage fears. "People tend to catastrophize, and that leads to depression. Suicide rates go up. We see an increase in drinking, outbursts at work, violence toward kids. Before, their houses were like ATMs," as they rose in value. "Now, they feel trapped.

Foreclosure filings surged 65% in April compared with the same month last year, according to a report Wednesday by RealtyTrac. One in every 519 households received a foreclosure filing last month, and the number of homes with foreclosure activity in April was the highest monthly total since RealtyTrac began issuing the report in January 2005.

Don Donaca, Raymond's brother, says it's hard to understand the suicide, but he thinks the pending foreclosure led to their deaths.

"He got so deep in debt he couldn't figure out what else to do," says Don, 74, a retired sawmill worker in Prineville. "I guess a guy would have to walk a few miles in his shoes to understand."

Financial concerns at the top.

Many other homeowners are at risk of less-severe, but still significant, psychological distress: One in seven homeowners worry that they won't be able to make their mortgage payments on time over the next six months, according to an April Associated Press-AOL Money & Finance poll, and more than one-quarter fear their home will decline in value during the next two years.

ComPsych says financial concerns are now the top issue the firm's counselors are hearing in calls from clients. Calls about financial worries have surged 20% over last year; those related to mortgage problems have doubled.

"It's escalated to the No. 1 issue because of the housing crisis," Chaifetz says.

Half of Americans identify housing costs, such as rent or mortgage payments, as significant sources of stress, particularly on the East and West coasts, a 2007 survey by the APA says. Sixty-one percent in the West, and 55% in the East (compared with 47% in the Midwest and 43% in the South) reported housing costs as a very or somewhat significant source of stress.

"The problem affects the whole spectrum, not just people losing their homes," says LeslieBeth Wish, a psychologist and social worker in Sarasota, Fla. "The stress exacerbates what is already there. It brings to the surface problems that were often already there, like marital problems. There is so much blaming people for the situations they're in, and that adds to it."

One of Wish's patients was semiretired when she bought a home in 2005 in southwest Florida as an investment that she hoped to "flip," turning a profit. The woman now owes more than the house is worth and can't sell it.

Wish says her client has developed anxiety, dwelling on her financial situation from the time she wakes up to the time she goes to sleep. Other clients, Wish says, are reporting physical symptoms such as headaches and stomach pains stemming from anxiety over their mortgage situation.

ComPsych's counselors are hearing similar stories of the mental-health toll caused by the housing slump. At the request of USA TODAY, ComPsych's spokeswoman Jennifer Hudson queried counselors to come up with examples of the types of employees they're helping. One couple were going through a divorce, and the wife told ComPsych counselors that financial stress was the final trigger. They had maxed out their credit cards and were living off credit in hopes that they could keep their house. Another woman called because she suspected her husband was gambling again, apparently hoping to win big so they could repair their financial mess. She was afraid they were going to have to move in with her parents, ComPsych says.

For Gary Sweredoski of Myrtle Beach, S.C., the threat of losing his home to foreclosure has taken both a physical and an emotional toll. In 2007, Sweredoski, who had no health insurance, underwent triple bypass surgery and wound up with more than $300,000 in medical bills. Then Sweredoski, 60, a real estate broker, saw his business suffer as the housing market crashed.

Today, he and his wife, Irene, struggle to make the mortgage payment on the dream home they built in Myrtle Beach and are trying to stave off foreclosure. Like many other homeowners struggling with the financial consequences of the housing slump, Gary says the emotional pain can be severe.

Standing on his deck overlooking a lake where ducks swim and bobbing pontoon boats drift by, he says such circumstances "shatter your pride and become very humiliating, even though the circumstances are not of our making.

"The situation keeps you up at night, preventing you from getting the rest you need. A lot of the depression that I feel, I do in private," he says.

"It angers you. It frustrates you. It has a large bearing on your emotional state. When the thought of losing a home looms, you lose more than a building. You lose what you worked for so many years, all of the equity that you have accumulated over the years. It's humbling. It affects us deeply."

Rising depression, suicide rates

Historically, research shows, rates of depression and suicide tend to climb during times of economic tumult.

AIG didn't learned the lesson: Continuing they trail of Leasure.

After the federal government approved the third greatest robbery of taxpayers in American history, AIG executives treated themselves to a $440,000 get-a-way at the prestigious St. Regis Resort in Monarch Beach, California. All this while thousands of families continue to lose their homes and unemployment has creeped slightly above 6 percent. USA Today reported the following: Let me describe some of the -- the charges that -- that the shareholders who are now U.S. taxpayers had to pay. Check this out. AIG spent $200,000 for hotel rooms, and almost $150,000 for catered banquets. AIG spent -- listen to this one -- $23,000 at the hotel spa and another $1,400 at the salon. They were getting their manicures, their facials, their pedicures and their massages while the American people were -- were footing the bill. And they spent another $10,000 for -- I don't know what this is -- leisure dining or Living la Vida Loca......Source: Here

The Forgotten Homeowners still on the Limbo.

Blame it on the" new economy". You know things are bad when the government devises a bailout bill that ignores the plight of homeowners facing foreclosure, and then the country's biggest mortgage lender announces a massive mortgage modification program. Countrywide Financial, which was recently acquired by Bank of America and is regarded by many to be the corporate poster child for predatory lending, announced a settlement that would provide loan relief for 400,000 borrowers, virtually equaling what the federal government's own modification program is supposed to accomplish.
In what should be regarded as a model for how mortgage lenders should be compelled to fixed the mortgage crisis, Countrywide,

a]long with the direct relief,...will waive late fees of $79 million and prepayment penalties of $56 million and suspend foreclosures on delinquent borrowers with the riskiest loans.
A foreclosure relief fund will be created with $150 million from Countrywide to help borrowers who are four months or more behind on their payments or whose homes have already been foreclosed on. The company will also provide $70 million to help troubled borrowers relocate to rental housing. In all, Countrywide is setting aside $8.7 billion to help borrowers.
...Under the terms of the settlement, Countrywide will reduce principal balances in some cases and cut interest rates in others. Rates could decline to 2.5 percent, depending upon a borrower’s ability to pay, and remain at that level for five years. Then the rate will adjust to prevailing interest rates charged by Fannie Mae on its fixed-rate mortgages.

What's significant about this program is that it reveals the culpability of lenders in the foreclosure crisis, as well as the responsibility they should assume in helping homeowners avoid foreclosure. Although Countrywide does not admit to any wrongdoing - standard practice in these types of agreements - investigations into Countrywide's practices revealed massive acts of underwriting and sales abuse, thus demonstrating how many lenders either manipulated or did not fully disclose the terms of their mortgages.

The California foreclosure bill which targeted the ever-increasing problem of vacant foreclosed homes faced a narrow defeat last Wednesday. According to Don Perata, the sponsor of this bill, its objective was to make sure that people stayed in their own homes. However, the Republicans in the Senate argued that the bill would be an unfair burden on banks as well as on mortgage companies.
A Republican Dave Cox, said that, the lenders would be scared away from California by the bill as they could face a fine of $1,000 daily if they failed to maintain vacant properties, and also give a notice of four months before there is a 10 percent or more increase in mortgage payments. The foreclosure rate in California is among the top five and the state, in fact, has the highest volume of foreclosure. Perata goes on to say that, often three or four houses going waste in a neighborhood is a common sight. This problem has been the topic of hot debate in economic circles for many months now, and California is one of the top states suffering from foreclosures in the country.
According to George Runner, who is a Republican hailing from Lancaster, South California, the law should try to pin down home owners who claimed larger loans by lying about their income, as well as on unethical lenders who trap people into taking loans they cannot possibly afford. Perata had submitted the measure in the form of urgency legislation and to be passed, it required a two thirds majority in its favor. However, it failed as there were 14 votes opposing it, whereas only 26 votes were in favor of the measure. Perata admitted that the high foreclosure rate in California was also partly due to fraud, speculation as well as non-viable financial planning.
In California alone 300,000 loans wait to be reset. Last week, the State Assembly introduced parallel legislation which declared that people wanting to buy houses should be able to afford insurance, mortgage and property taxes. The rules governing mortgage brokers and agents dealing in real estate in California were made stricter in tune with the lending guidelines of the federal government. Foreclosed houses have been burgled and stripped of electrical appliances, copper wiring and pipes, all of which can be sold as scrap. It is truly a sad sight to see empty neighborhoods with foreclosed homes

Nothing on this Bail out deal will protect you.

First, one must read the article written by Elliot Spitzer JUST before he was taken down by the powers that be. This article details how the Bush administration opened the doors for the mortgage industry to get into this crisis, knowing all along they could pilfer the taxpayers in the end to soak up any losses.Eliot Spitzer Feb 2008 article

Second, we must realize that this whole affair is simply a corporate restructuring. What corporation? The corporation that OWNS the Federal Reserve (it is NOT a US government agency or division). The Federal Reserve is owned by the wealthiest banks in the world, who also in turn own the largest insurance companies in the world, and so much more. Like in 1929, they are set to, and will execute, the US economy if they don't get their way. Haven't you heard the threats already? Think it's not true? What caused the great depression? A run on banks and the stock markets? But what caused that? What happened was the largest banks in the world called in all loans they could on Oct 29, 1929. As all callable loans had to be paid immediately, everyone and their brother had to sell stock, bonds and get their money from the banks to pay these loans, that were all being called in unreasonably on this day. And what did the Fed do? Nothing. It is/was the same people. These are the same people who brought us federal income tax, in the same act that formed the third incarnation of the Fed!Why would the Fed do this? Because for the third time in US history, a president (this time Herbert Hoover) was threatening to end the Federal Reserve. Andrew Jackson once said, when asked what was his greatest accomplishment in his two terms as President, "I killed the Bank." (referring to the second incarnation of the Federal Reserve). Under the US Constitution, only the treasury is allowed to print our money, and although they still print our coins, the Fed is who really controls the US currency, and remember, they are a PRIVATE corporation, whom you will be told no specifics about."Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money.”Sir Josiah Stamp - Director of the Bank of England (appointed 1928)Reputed to be the 2nd wealthiest man in England at that time. So once you have looked at these facts, especially the article by and the efforts of Mr. Spitzer, you can see what this is really all about.Hope this helps some to understand.

The Biggest Robbery of the History of our Country.

This bailout's mission is to protect the obscene amount of wealth that has been accumulated in the last eight years. It's to protect the top shareholders who own and control corporate America. It's to make sure their yachts and mansions and "way of life" go uninterrupted while the rest of America suffers and struggles to pay the bills. Let the rich suffer for once. Let them pay for the bailout. We are spending 400 million dollars a day on the war in Iraq. Let them end the war immediately and save us all another half-trillion dollars.
It has everything to do with it. This so-called "collapse" was triggered by the massive defaulting and foreclosures going on with people's home mortgages. Do you know why so many Americans are losing their homes? To hear the Republicans describe it, it's because too many working class idiots were given mortgages that they really couldn't afford. Here's the truth: The number one cause of people declaring bankruptcy is because of medical bills, Medical Bills; unemployment, increase in gas, food, increase on taxes to paid outrageous Government salaries.

And yet, they are screeching about how the end is near! Panic! Recession! The Great Depression! Y2K! Bird flu! Invasion of Undocumented Immigrants! Killer bees! Salmonella, We must pass the bailout bill today!! The sky is falling! The sky is falling!!!!!!!.

Falling for whom? NOTHING in this "bailout" package will lower the price of the gas, the price of food, the Interest rate, you have to put in your car to get to work. NOTHING in this bill will protect you from losing your home. NOTHING in this bill will give you health insurance.