So this bailout was to have helped whom? Not us. As you have read, I have been out of a job (of 36+ years) for 9 months with only 2 nibbles (I cannot believe that I could work any harder to find work). So during the 1st several months we tried numerous contacts to the known lender M. Stanley to work with us in a pro-active role in obtaining a modified loan. Since they are not part of the Fannie Mae or Freddie Mac bail out, MS feels no need to assist. Basically it "sorry to hear about your crisis but it's not open for discussion" per MS contacts.
What does it take? So whose watching these lenders sit back and suck up homes that foreclose? This is utterly madness. Ultimately this will cost lenders/banking institutions thousands of dollars more should the homes go into foreclosure. Why not take a supportive role in helping households achieve and maintain the "home owner status"? This will drive new customers to them in the long run as the LENDER WHO CARES. This is a WIN/WIN situation for all.
What watch dog is out there for us? Certainly not the government under Obama. He keeps giving away our money to these pompous individuals and leaving the unemployed sinking further into despair (which by the way I refuse to sink to). Someone has to help. There is more of us then them. I have written numerous letters to my Government Representatives and President and will continue to voice my opinion and distaste for actions they have supported.
We need to watch them and when the opportunity arises, take our monies away from them and find those institutions who cater to the citizens.