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.
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?
I’m not putting my credit in danger for a protest. No way in freakin’ hell.
Obama’s gonna fix it. “Everybody has right to credit!”
That is “Everybody has a right to credit.”
“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.
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.
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!
:)
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.
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...
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.
Sounds like theft to me. I asked the bank for a loan, it didn’t come to me. The bank then loaned me the money and I bought a house. Call me old fashioned, but by my reckoning, I owe the bank every dime I promised I would pay. Your so-called protest is highly immoral.
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