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Responsible Homeowner Revolt

Posted on 02/19/2009 3:29:43 PM PST by tomnbeverly

Responsible Homeowner Revolt Of 2009 The Tea Party of 2009

Press Release / call to action: Responsible Homeowner Revolt of 2009 Please email to other Responsible Homeowners

Starting on April 1, 2009, in a nationwide protest, millions of Responsible Homeowners (HOME OWNERS THAT ACTUALLY PAY THEIR BILLS AND ARE NOT IN FORECLOSURE) are going to withhold their mortgage payments for the month of April to protest government bailouts of irresponsible homeowners.

An estimated 93% of the American Homeowners are current with their mortgage payments. The US Government and the home finance titans Fannie Mae and Freddie Mac want these Responsible Homeowners, to pick up the tab for over leveraged, irresponsible homeowners and to pay for the fraud and stupidity of Fannie and Freddie.

Mortgage Companies are expected to receive 10’s of millions of letters like the one below instead of the typical monthly payment.

Dear Mortgage Company:

Instead of receiving my monthly payment you are receiving this letter. I am current with my mortgage payments and you have greatly profited from my loan. I am not in a financial position to pay for financial mistakes of others as is being required under the National Bailouts. Therefore, I am withholding my April payment to you to offset a small portion of the Bailout expenses. I understand that this is not permitted under my loan agreement; however, I never agreed to be forced to bail out your industry.

Based on your industry’s recent success in securing taxpayer bailouts for Fannie Mae Freddie Mac and the other mortgage companies; I am confident you will figure out how to survive without my April Payment.

This letter should be one of tens of millions that you will receive in April 2009 from Responsible Homeowners across the nation. If this nationwide Responsible Homeowner Revolt is successful you should have no problem convincing the Federal Government to cover your losses as it will be virtually impossible for you to survive without the estimated $165 billion in loan payments your industry receives monthly from Responsible Homeowners.

I will resume my normal payments in May. I appreciate your understanding that before I take on a major financial obligation, like bailing out your industry, I have to save up some money.

Sincerely,

The Responsible Homeowner Revolt Of 2009 was not started by any political party, committee, 501 c3 or any political action committee. This is a true grass roots revolt.


TOPICS:
KEYWORDS: bho44; foreclosures; homeowner; mortgage
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Didn't see this posted yet and hope it gets serious legs. Obama is the worst President in American History.
1 posted on 02/19/2009 3:29:43 PM PST by tomnbeverly
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To: tomnbeverly

While I agree with the reason FOR protesting, I can’t go along with not paying my mortgage as a form of protest. Just because other people get free toilet paper because they can’t afford their own anymore, doesn’t mean I’m going to a month without wiping my butt.


2 posted on 02/19/2009 3:33:22 PM PST by pogo101
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To: Squantos

Ping!


3 posted on 02/19/2009 3:33:54 PM PST by hiredhand (Understand the CRA and why we're facing economic collapse - see my about page.)
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To: tomnbeverly

A very responsible home-owner co-worker called his lending institution to get some relief (he works a full-time job and a part time job and has never been late or missed a payment), and they told him they could reduce his payment by about $200 a month by giving him a 40yr mortgage instead of the 30yr he now has.


4 posted on 02/19/2009 3:35:00 PM PST by PGalt
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To: tomnbeverly

Better to withhold tax payments till the bums in DC get the message.


5 posted on 02/19/2009 3:35:10 PM PST by screaminsunshine (f)
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To: tomnbeverly

Permission to forward, blog and bleve through the cyberworld?


6 posted on 02/19/2009 3:36:13 PM PST by Old Flat Toad (Pima county- Home of the single vehicle accident with 40 victims.)
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To: tomnbeverly

As a responsible and ethical Human Being and Husband, I can’t sign on to this proposal.


7 posted on 02/19/2009 3:38:44 PM PST by Be_Politically_Erect (Block HR 45 Blair Holt.)
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To: tomnbeverly
I'm sure everyone will love getting a hit against their credit rating to make a philosophical point.

Well, good luck with that.

8 posted on 02/19/2009 3:38:48 PM PST by El Sordo
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To: Old Flat Toad

Yep I got it from the Msnbc blog feedback to Rick Santelli.


9 posted on 02/19/2009 3:39:20 PM PST by tomnbeverly (Taxpayers doing time on the Obama Plantation.)
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To: pogo101

Yes there is somethig to be said about bad behavior but I still want to modify the letter and basically say I could have done these things so you better be careful with what policies you support and don’t support.

Obama is a miserable failure and his plan is a reward for bad behavior. He is destroying this once great nation.


10 posted on 02/19/2009 3:41:33 PM PST by tomnbeverly (Taxpayers doing time on the Obama Plantation.)
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To: tomnbeverly
It's a great idea and, IF everyone would do it, it would bring the Obama-Soros administration to its knees.

But only a few sacrificial would actually have the guts to follow through, and Obama-Soros will see to it that they lose their houses as punishment.

11 posted on 02/19/2009 3:42:00 PM PST by E. Pluribus Unum ("Only after disaster can we be resurrected." -- Tyler Durden)
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To: E. Pluribus Unum

Well sometimes you don’t have to actually do these things just modify the letter and sent to our elected officals and see if they agree with it...

In fact maybe a Great Republican Senator or Congressman would be willing to stand up for Americans and propose a Bill that REWARDS the RESPONSIBLE HOMEOWNERS like lowering all of our interest rates at a cost to the financial institutions.

or let those institituions fail.


12 posted on 02/19/2009 3:45:40 PM PST by tomnbeverly (Taxpayers doing time on the Obama Plantation.)
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To: tomnbeverly

I would do this, but we dropped Country Wide mortgage in 2003, and refinanced with a very small, very local bank which doesn’t resell mortgages, nor participate in sub-prime shenanigans. They’ve got three branches total. I can’t see any gain in hurting them. But if not for this, I’d do it.


13 posted on 02/19/2009 3:48:40 PM PST by hiredhand (Understand the CRA and why we're facing economic collapse - see my about page.)
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To: tomnbeverly

Fat chance. Sorry.


14 posted on 02/19/2009 3:50:12 PM PST by pabianice
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To: tomnbeverly

This is a terrible idea with adverse consequences for anybody partaking in the protest of this manner.

Your credit score will be downgraded, and will remain on your credit report for 10 years.

This affects what interest rates you will be offered/charged on future purchases or credit lines.


15 posted on 02/19/2009 3:51:22 PM PST by DCPatriot ("It aint what you don't know that kills you. It's what you know that aint so" Theodore Sturgeon))
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To: screaminsunshine

In my view, both stimulus bills already passed are charity.

Charity to the banks, charity to the auto makers, charity to deadbeat homeowners, charity to Acorn, etc. All taxpayers - AND ONLY TAXPAYERS - should figure out what their families will end up paying to the Federal government for this and start writing it off under CHARITABLE CONTRIBUTIONS on their 1040 form. Just make sure you use TurboTax!


16 posted on 02/19/2009 3:52:32 PM PST by anonsquared
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To: El Sordo

If you are truly responsible with your credit, you can afford 1 30 day late hit on your credit report. It could get wiped after 6 months or so. In that time frame, you could just avoid buying a big ticket item like a vehicle. Credit reports can be amended also with the explanation for why the payment was late.

Besides, what else can we do to protest? Have any better ideas?


17 posted on 02/19/2009 3:53:01 PM PST by AlmaKing
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To: hiredhand

Same with us. We had our mortgage with a very responsible bank whose rating remained 5 stars through this entire debacle. I spoke with a loan officer there just to find out what shape the bank was in and she told me they had plenty of money to lend. Our rates were always fair and they were always upfront with us, so I would not feel right in penalizing them when they weren’t part of the problem.


18 posted on 02/19/2009 3:53:18 PM PST by dawn53
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To: tomnbeverly

I absolutely agree that it’s reprehensible to reward bad behavior at the expense of those, like my wife and me, who have FORGONE the bigger houses, the flat-screen TVs, the newer cars, etc., in hopes of affording a nicer home and an additional child or two one day.


19 posted on 02/19/2009 3:55:40 PM PST by pogo101
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To: DCPatriot

Well yes people would have to be willing to take a risk to make a point..

So your probably right not too many people are acutually principled enough to stand up for themselves taking some form of risk...

WOW wonder how we ever got this far....

/Eye Roll


20 posted on 02/19/2009 3:55:47 PM PST by tomnbeverly (Taxpayers doing time on the Obama Plantation.)
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To: AlmaKing

See my post #16.


21 posted on 02/19/2009 3:56:14 PM PST by anonsquared
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To: hiredhand

I own my shack here in Jackass Flats so I can’t make anyone wait for my payment.

I may write the letter anyway and not sign it and drop it off at every bank and loan company in town .


22 posted on 02/19/2009 3:56:53 PM PST by Squantos (Be polite. Be professional. But have a plan to kill everyone you meet)
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To: pabianice

Maybe you would be better up for a “RESPONSIBLE HOMEOWNERS STAY HOME FROM WORK DAY”

That way you wouldn’t have to take much risk to make a point? hmmmm


23 posted on 02/19/2009 3:59:12 PM PST by tomnbeverly (Taxpayers doing time on the Obama Plantation.)
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To: Squantos

LOL smooth... but we could also adopt a Responsible Homeowner day off to protest the government bailout of irresponsible homeowners...

Obama “we won’t bail our people that bought houses that they knew they couldn’t afford”....

How is he going to judge that... IDIOT.


24 posted on 02/19/2009 4:01:32 PM PST by tomnbeverly (Taxpayers doing time on the Obama Plantation.)
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To: dawn53
Same with us. We had our mortgage with a very responsible bank whose rating remained 5 stars through this entire debacle. I spoke with a loan officer there just to find out what shape the bank was in and she told me they had plenty of money to lend. Our rates were always fair and they were always upfront with us, so I would not feel right in penalizing them when they weren’t part of the problem.

When sub-prime blew up, our little bank contacted all of its customers and made sure we knew that they practiced fiscal responsibility! They even offered to explain their prospectus!...for those of us who are "challenged" to understand such things!

But if not for these things, I'd do this in a heartbeat!
25 posted on 02/19/2009 4:03:40 PM PST by hiredhand (Understand the CRA and why we're facing economic collapse - see my about page.)
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To: tomnbeverly

hmmm .. there’s an idea.


26 posted on 02/19/2009 4:04:46 PM PST by Centurion2000 (01-20-2009 : The end of the PAX AMERICANA.)
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To: Squantos

Me and SP spent some time with a mortgage calculator at Dave Ramsey’s site and we can pay for the place in “about” three years... sooner if we took all the “fundage” we have stashed for various things, but we don’t touch that unless we have to!


27 posted on 02/19/2009 4:07:02 PM PST by hiredhand (Understand the CRA and why we're facing economic collapse - see my about page.)
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To: tomnbeverly

Agree.... ask yer local bankers about red line fines to see the root of this BS !


28 posted on 02/19/2009 4:12:41 PM PST by Squantos (Be polite. Be professional. But have a plan to kill everyone you meet)
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To: hiredhand

Agree....pay the minimum till this episode in fiscal fascism flies away.....


29 posted on 02/19/2009 4:14:01 PM PST by Squantos (Be polite. Be professional. But have a plan to kill everyone you meet)
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To: pogo101

In watching the TV show Househunters, I have wondered what kind of jobs must these young couples hold that would allow them to purchase 3000 SF homes with 4 bedrooms, 3-1/2 baths, in the $300,000 to $400,000 range.


30 posted on 02/19/2009 4:22:35 PM PST by maxter (Give today a chance. Enjoy.)
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To: tomnbeverly

Rather than not pay, just delay the payment until May 1. Make the Apr 1 payment a month late (along with the penalty), and the May 1 payment on time. Watch what happens to the cash flow juggling at the mortgage companies and banks. Don’t know if this minimizes the hit on my credit score. I’ll be current on the mortgage on May 1, still responsible. If this gets attention, maybe another withhold in Oct, when the Fed Fiscal Year starts.


31 posted on 02/19/2009 4:23:27 PM PST by papersonusa
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To: tomnbeverly
Don't forget responsible renters who are being asked to bail out these freakin' deadbeats!
32 posted on 02/19/2009 4:28:39 PM PST by Oldeconomybuyer (The democRATS are near the tipping point.)
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To: tomnbeverly

No thanks. I don’t want to be as stupid and irresponsible as the 0bomination, no matter what the reason.


33 posted on 02/19/2009 4:42:04 PM PST by grellis (I am Jill's overwhelming sense of disgust.)
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To: papersonusa
"Make the Apr 1 payment a month late (along with the penalty),"

I'm not paying that $42 penalty. This is not a good idea.

34 posted on 02/19/2009 4:44:02 PM PST by AGreatPer (Obama is not my president until we see his birth certificate. A real one.)
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To: tomnbeverly
I finished paying my mortgage 10 years ago. That leaves me out.

There's got to be another way of doing a protest. A way that won't bite back the ethical homeowners. If a payment is missed no matter what the reason, that would lower us to the same level as the deadbeats.

Maybe pay double monthly to finish paying the mortgage sooner? Just a wild thought.

35 posted on 02/19/2009 4:47:37 PM PST by 1_Rain_Drop
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To: tomnbeverly
“are going to withhold their mortgage payments for the month of April to protest government bailouts of irresponsible homeowners. “

A joke I assume.
Missing a mortgage is the quickest way to drop your credit score 100 points immediately.
And preclude you from refinancing for the next 12 months.

It's like picking up a gun to fight a battle, and pointing it at yourself.

36 posted on 02/19/2009 4:48:07 PM PST by HereInTheHeartland (A tagline is a terrible thing to waste.)
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To: tomnbeverly

No, I reject your proposal. You are promoting irresponsibility and a dishonorable action. Far better to honor your debts and present a good example of fiscal responsibility for those who desperately need one.


37 posted on 02/19/2009 4:49:37 PM PST by ChoobacKY
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To: DCPatriot
"This affects what interest rates you will be offered/charged on future purchases or credit lines."

Not a problem if you don't buy on credit or anything where they now use your CR for ratings (car ins?)

38 posted on 02/19/2009 5:10:53 PM PST by Paladin2 (No, pundits strongly believe that the proper solution is more dilution.)
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To: ChoobacKY

I love the idea of just saying no to April’s mortgage payment...but nobody’s going to shoot themselves in the foot. I think a better idea would be to put our feelings out there and stage an “I’M NOT SPENDING A DIME WEEK...screw your bailout”. No gas, no clothing, no fun, no iPhones, no movies, no dinners out no extras at all. ONLY what you absolutely cannot do without. It would not only send a message to the O, but American businesses would really feel it... and maybe at that point, we could be heard - without putting our families at risk.


39 posted on 02/19/2009 5:11:42 PM PST by nagdt ("speak the truth but leave immediately afterward")
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To: ChoobacKY

You are promoting irresponsibility and a dishonorable action, however ACORN is suggesting an equally irresponsible and dishonorable act; that “home owners” create havoc by not leaving their homes that have been foreclosed on...they are suggesting nation wide acts of civil disobedience. Do we really want to follow the lead of ACORN?


40 posted on 02/19/2009 5:12:01 PM PST by blaveda (blaveda)
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To: ChoobacKY

You are promoting irresponsibility and a dishonorable action, however ACORN is suggesting an equally irresponsible and dishonorable act; that “home owners” create havoc by not leaving their homes that have been foreclosed on...they are suggesting nation wide acts of civil disobedience. Do we really want to follow the lead of ACORN?


41 posted on 02/19/2009 5:13:03 PM PST by blaveda (blaveda)
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To: tomnbeverly

I’m not putting my credit in danger for a protest. No way in freakin’ hell.


42 posted on 02/19/2009 5:20:42 PM PST by theDentist (Qwerty ergo typo : I type, therefore I misspelll)
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To: DCPatriot

Obama’s gonna fix it. “Everybody has right to credit!”


43 posted on 02/19/2009 5:40:02 PM PST by Clock King (Radical Conservatives, arise!)
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To: Clock King

That is “Everybody has a right to credit.”


44 posted on 02/19/2009 5:40:54 PM PST by Clock King (Radical Conservatives, arise!)
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To: El Sordo

“I’m sure everyone will love getting a hit against their credit rating”

I have no idea what my credit rating is and sure aren’t going to pay $7 to find out since I never borrow money.

If I could I would join the revolution but it’s been 20 years since I paid off my mortgage on my home and paid cash for my condo.


45 posted on 02/19/2009 5:50:04 PM PST by dalereed
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To: screaminsunshine

How about both? I’m in a position where I am paid a month in advance of my loan; so I’m not punishing myself with this. Also, I am using every LEGAL means to reduce a)the amount withheld and b) the taxes due on April 15.


46 posted on 02/19/2009 5:54:14 PM PST by NTHockey (Rules of engagement #1: Take no prisoners.)
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To: pogo101

We can send toliet paper in protest.
It would be humorous.

We need to do something symbolic.

Everyone can go to the streets and protest.
Hold a roll of toliet paper and tell them “Wipe My Mortgage!’

We can do a symbolic mortgage burning.

Put it on You Tube!

:)


47 posted on 02/19/2009 5:58:07 PM PST by Milligan
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To: tomnbeverly
There is an easier way that won't hurt your FICO score.

The Due Date on my Mortgage is the first of the month. The late penalty is applied if the payment is received by the Bank on the 15th of the month.

If your payment schedule is the same as mine, just mail your payment 10 days later than usual, or pay it at the Bank Branch on the 14th rather than mail it in.

This way you made your point with no damage to your moral compass or credit rating.

48 posted on 02/19/2009 6:02:47 PM PST by Kickass Conservative (Obamunism, the fatal cure for Bush Derangement Syndrome.)
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To: hiredhand; All

A better alternative that doesn’t thrash your credit is to just run them. If you’ve got cash in a bailout bank, take it out and either deposit it with a responsible small institution or put it into gold et. al.

They need deposits and functioning loans to have “reserves” in order to lend. If you pay off stuff like revolving debt and take your money out it hurts them FAR more than witholding a payment...


49 posted on 02/19/2009 6:16:13 PM PST by Axenolith (Government blows, and that which governs least, blows least...)
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To: tomnbeverly

Instead of skipping a payment, just ask for a deferment. If you’ve been reliable with your payments, most banks will allow a 1 month deferment in the case of emergencies. This allows you to legally skip a month without penalties and without it effecting your credit rating.

Ask for it early, as some banks will require the request in writing.


50 posted on 02/19/2009 7:21:22 PM PST by Ellendra (Most eco-freaks wouldn't know nature if it bit them on the butt . . . and it often does!)
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