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.
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.
Ping!
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.
Better to withhold tax payments till the bums in DC get the message.
Permission to forward, blog and bleve through the cyberworld?
As a responsible and ethical Human Being and Husband, I can’t sign on to this proposal.
Well, good luck with that.
Yep I got it from the Msnbc blog feedback to Rick Santelli.
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.
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.
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.
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.
Fat chance. Sorry.
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.
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!
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?
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.
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.
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
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