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Could the Obama Administration throw us poor middle class Americans who have been almost destroyed by the corruption of the Bush years, just one bone?? One? No, it appears not. I have a predatory lender, called GMAC. They have violated TILA and RESPA laws, and in my opinion caused my foreclosure and subsequent Chapter 13. I did not lie on my mortgage application, and I did not know it was a sub prime loan when I got it. I was steered into the loan by a broker. You can read my personal story here. . I have written many articles documenting my struggles. This issue did not go away, in fact it remains untouched by Obama's DOJ.  Follow me over the fold for a discussion about how these betrayals are adding up...

As we discuss the private health care issue, one part of the discussion that is missing is that families are being confronted with the HC bill after they have suffered financially under the Bush administration.  When we are talking about the health care costs and budgeting, I haven't seen anyone take into account the money that many average Americans are already paying out as a result of the bush years in fees to sub prime lenders, and medical bills accrued under the high deductible plans that many employers put in place to respond to the 23% yearly increases in health care costs. These have to be figured into the budget along with the forced health care. And to make it worse, it looks like the Obama DOJ has yet to hold a single bank accountable. This is a discussion of my real life expenses and my real life disappointment in Obama.

According to an article linked on the Huffington Post:  "So far, prosecutors and regulators have been unable to build such evidence into anything resembling a persuasive case against any financial institution." Originally, when Obama took office we heard that they were investigating, and I felt hopeful that Obama would come to my aid and help stop the illegal practices of these banks. According to the FBI, 80% of the fraud was initiated by the banking industry and only 20% came from borrowers.

Unfortunately, what I experienced was that GMAC, even as Homecomings financial went bankrupt, just continued it's practices. There will be restitution for me at some point, but my story shows how blatantly this behavior has continued, and so many people don't realize it's illegal, nor do they have the means to fight it. Most have lost their homes or will lose their homes. It has taken a tremendous amount of energy and time to prepare to fight this monstrosity of illegal behavior and fraud. For instance, I have to copy every one of my bank statements showing my payments and put them in a three ringed binder to bring to court. That's just one small job related to my battle for restitution.

Here's the latest example of GMAC's behavior. In May, I got a letter stating that my escrow account was low. It said I should pay 697.00$ now to keep my payment as it is. I am in bankruptcy and they have hauled me to court twice saying I didn't pay my mortgage when I did. I don't mess with the payments for this reason. So, I paid the fee, to keep my payments the same. But you know what?? They have sent me bill after bill stating that I owe the amount in payment that would have been true had I not sent them the 697.00 in June of this year. The check went through my account, but they still have me paying an increase in payment. I have paid, because I could. (the trick, now that I get it would have been that I pay at the lower amount and they haul me into court one more time trying to get out of the bankruptcy). But, I have paid the higher amount, and they have my check. So, the illegal behavior and accounting practices continue. Many people just give up. It's sad, and Obama has still not championed those folks who lost their homes illegally and who are losing their homes every day. His foreclosure plan was a bust, because the mortgage companies have continued with the fees, and the illegal behaviors. Nothing has changed.

So as we discuss the issue of health care, it seems missing the point, not to include how battle weary many Americans are. These folks are not likely typing on computers to Daily Kos. They are not completely broke, many are employed, but are barely surviving due to the damage caused by the Bush years. I pay an extraordinary amount of my budget to my home loan. If I leave the loan and my house, I face leaving it and still owing a huge amount of money. It's not the housing market but the unregulated fees and accounting errors that make my house upside down. I have been paying on this house since 2001 and only missed two payments. They have doubled my debt with fees that should be illegal, but remain unregulated. I know why folks still went into foreclosure after getting's because these loans had all the same fees and did not lower people's house payments. It just rolled the toxic debt into the loan payments. There has been no move to stop these institutions and Obama has not said one word to admit that this is going on.

My point is that when I freak out about this new health care bill, it's because I am at the end of my rope. I cannot afford this bill, not even with the subsidies. To top it off, it feels like an insult to have my reproductive rights limited, since I live in Nebraska, the home of Bill Nelson, this provision in the health care bills hits home again, in a very personal way. It's one hit after another for me and my family. It's not the health care bill by itself that makes me emotional and angry at Obama. It's that he has let me down in every way...and it's hurting me and my family. Our hurt is real, and I know that I am not unique or alone. I am just more noisy than most. This is a link to my last diary documenting my frustration. I know there are some inaccuracies in regard to the bill, but please understand, that it's not just this bill, it's that I am battle weary, for good reason.

Originally posted to wavpeac on Sun Dec 20, 2009 at 08:09 AM PST.


Can't we be more validating of the pain and struggle that many of us have been in, for so long?

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Comment Preferences

  •  Tip Jar (7+ / 0-)

    The greatest gift you can contribute to the goal of world peace is to heal.

    by wavpeac on Sun Dec 20, 2009 at 08:09:55 AM PST

    •  Your situation sucks and Obama does not care (1+ / 1-)
      Recommended by:
      Hidden by:

      If you were working for Goldman problem.

      But since you're not, Obama would have to blame you or his pull yourself up by your own bootstraps worldview would be shattered.

      Now he's going to force us all to buy shitty insurance polices with more bureaucracy, less choice, more co pays and deductibles, more of our lives controlled by corporate masters through their bureaucratic lackeys.

      Class warfare continues and as Dennis K. says, we already lost.

      The struggle must continue because too many people are out of touch, ignorant, clueless or hooked on the dope from the Pope of Hope; and I for one, refuse to accept that reality.

      Gary Wills on Obama's Afghan occupation: "What really matters are the lives of the young men and women he is sending off to senseless deaths."

      by formernadervoter on Sun Dec 20, 2009 at 08:55:07 AM PST

      [ Parent ]

      •  President Obama is so duplicitous. Why is he (1+ / 0-)
        Recommended by:

        president?  Why did he run for the office?  He must love people savaging him daily.

        My goodness, he must get a thrill out of watching and listening to the media rip him apart daily.

        Since 2007, he's not American enough, he must be Kenyan, he is the other, he is Hitler, Stalin, Socialist, communist, racist, does not care for GLBT, CBC, Latinos/Latinas, elderly, school children, college kids, middle class, Christians, Muslims(from the muslin world), but a lover of Muslims, some American say, etc...

        This President is a decent Human being that works hard daily for this nation.  He put his life, family, time and energy for US and the world.  He is not PERFECT.  No one is.

        Please stop the personal attacks and debate policies.  If you have not talked to this president about his feelings on most of the above mentioned lists, and you have not heard his speeches over the years and you still concluded that he does not care, then your perception of this president is unrealistic and false.

  •  The banks are the victims, not the perps (2+ / 0-)
    Recommended by:
    Sparhawk, akeitz

    in mortgage fraud.  After following your link through a rabbit hole of 4 different references, we come to a 2007 FBI report noting that 80% of fraud is by industry insiders, viz., mortgage brokers and title companies.  The banks are victims:

    The increased reliance by both financial institutions and non-financial institution lenders on third-party brokers has created opportunities for organized fraud groups, particularly where mortgage industry professionals are involved.

    Revolutionary Road was an awful, awful film.

    by burrow owl on Sun Dec 20, 2009 at 08:25:51 AM PST

  •  No lenders are getting judgments against (4+ / 0-)
    Recommended by:
    Sparhawk, formernadervoter, Bensdad, vc2

    defaulted borrowers. You'll lose your house, but the lender won't be able to chase you around for the deficit. IMO, you should do now what you probably should have done in 2001 - move out of the house, put an end to this mortgage and the struggling, and find a place that you can afford (without the child support) to rent or buy. Think about the grief you've put yourself through just for what amounts to a physical structure; IMO it just isn't worth it.

    I'm in the pro-Obama wing of the Democratic Party.

    by doc2 on Sun Dec 20, 2009 at 08:30:37 AM PST

    •  Agreed (2+ / 0-)
      Recommended by:
      burrow owl, formernadervoter

      Why continue to put yourself through this nightmare? Just default, find something you can afford, and get on with your life. How long will you allow this to continue?

      •  I can afford the house!! (4+ / 0-)

        I can afford the payment...I object to the faulty accounting. Did you not read what I wrote. They charged me 696 and I paid it. They did not credit me the payment. I don't get where you are coming from. Could you make payments that do not get credited?? That's speaks to affordable?? Really?? I haven't missed a payment in 7 years.

        The greatest gift you can contribute to the goal of world peace is to heal.

        by wavpeac on Sun Dec 20, 2009 at 08:54:53 AM PST

        [ Parent ]

    •  I don't need child support anymore (1+ / 0-)
      Recommended by:

      I always was able to afford the home. It was only the two months of shock when he quit paying child support and all the fees from bounced checks when his auto pay wasn't in my account. After that I have not missed a payment...the problem has been the fees and the illegal behavior of the servicer. Do you know they do a credit check if you want to rent a home, or an apartment??

      The greatest gift you can contribute to the goal of world peace is to heal.

      by wavpeac on Sun Dec 20, 2009 at 08:51:11 AM PST

      [ Parent ]

      •  They do on some, not on others. But so many (0+ / 0-)

        millions of people have had payment problems that fewer and fewer landlords will reject outright because of that. You can rent, the credit issue is not going to prevent you from finding suitable rental properties.

        I'm in the pro-Obama wing of the Democratic Party.

        by doc2 on Sun Dec 20, 2009 at 08:55:06 AM PST

        [ Parent ]

        •  was the 696 for property tax escrow? (0+ / 0-)

          If so, that's never applied to the loan. Or did they not credit your escrow account with the $696?

          •  Don't know. (2+ / 0-)

            The statements are impossible to read even for my lawyer. The lawyer showed the judge and the judge threatened punitive damages, but let it go. The escrow was short...I pay the amount it was short, the letter states that this would keep my payment the same but they have it on my statement that I owe the increased amount every month. They say my payment is the higher amount. I don't know what they did with the 697. That is why I am suing for an accounting of my payments but my lawyer asked twice and they did not respond. (violation of respa).

            The greatest gift you can contribute to the goal of world peace is to heal.

            by wavpeac on Sun Dec 20, 2009 at 09:02:16 AM PST

            [ Parent ]

  •  You have a personal gripe and (1+ / 1-)
    Recommended by:
    burrow owl
    Hidden by:

    you're blaming Obama. Nice.

    Greenbelt, MD loves Barack Obama!

    by Prince Georges for Obama on Sun Dec 20, 2009 at 08:36:20 AM PST

  •  Break up the big banks (0+ / 0-)

    Another Obama sell out to this base: corporate America.

    When the guy isn't on the golf course, he's at a thousands of dollars per couple fund raiser.

    Gary Wills on Obama's Afghan occupation: "What really matters are the lives of the young men and women he is sending off to senseless deaths."

    by formernadervoter on Sun Dec 20, 2009 at 08:48:57 AM PST

    •  but still (0+ / 0-)

      It's not like the left will be abandoning the President or the Democratic Party. Our vote and support is a given. The President needs to shore up his support with the moderates. And that's exactly what I expect him to do going forward. Elections are won by appealing to the middle. The healthcare bill might have disappointed a few liberals but it positively scared the living daylights out of those to the right of us. Let's cut the President some slack as he works to regain the moderates' support. Remember the goal is winning elections.

  •  I feel your pain (1+ / 0-)
    Recommended by:

    I'm also in Nebraska, living with family now after losing my home due to a combination of outsourcing and illness. I don't know enough to give you advice, but maybe the people advocating simply walking away are right? I don't know, but I can tell you that you can survive the loss of a beloved home.

    My plans in the political arena now are to look into Jane Kleeb's work with Change that Works. I've decided to try to do some volunteer time for an organization that is trying to effect some long-term changes here in Nebraska.

    •  Wow! why do some many people just lay down? (1+ / 0-)
      Recommended by:

      Gmac broke the law...and the answer according to some Obama followers is "so what"? It doesn't matter that they violated laws and caused the problem to begin with. Just walk away from your home. Credit trashed and move your family of 4 kids and a dog to an apartment and call it good.

      You are wrong about the landlords. I have two kids who have lost one chance after another to rent to someone who had credit. One is married the other single.

      The greatest gift you can contribute to the goal of world peace is to heal.

      by wavpeac on Sun Dec 20, 2009 at 08:58:57 AM PST

      [ Parent ]

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