Reply to What I don't get: When people complain that they are drowning because their house is underwater

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]PP do you understand that people are NOT being bailed out, but that banks are?[/quote]

What do you call HARP?[/quote]

We've tried it all - HARP, HAMP, BoA, you name it.  BoA wanted us to bring $20k+ to the table and our payments would actually go UP several hundred dollars each month, which we can't afford.

80% of the responders on this thread can jump on me all they want - Anyone out there have any advice regarding strategic default in Virginia?  They can have my near-perfect credit score.[/quote]

Just because you don't qualify does not mean that people are not being bailed out.  I understand that the qualifications are rigid.  They're rigid because there is no way that the government can afford to bail out 3 million underwater homeowners.  So they try to set the restrictions so that they can devote what money that they have to the focus groups.   They have helped thousands.  I know that is no salve to the hundreds of thousands that have not been helped, but there's a limit to what the government can afford to do.

As for the banks being bailed out...you think the economy is currently bad...you don't really want to see what would happen if those major banks were to declare bankrupcy.  It could take decades for the US to recover from that economic disaster and there could end up being many cities in the financial straights of Detroit.  It may be bitter, but it was necessary.[/quote]

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