2009-08-14 / Letters

Standing Up To Banks

Dear Editor,

The banks have already received their bailout money from taxpayers. However, there are still around 14 million vacant foreclosed homes, according to NY media, and folks have been living in tents and/or squeezed together with their relatives. The Obama administration has asked banks and mortgage companies to modify loans and let people keep their homes. But it is clear to me that the banks want to keep the bailout money, keep the billion dollars from other federal assistance programs, and keep the houses that they tricked America into losing. This is not acceptable.

It is clear to me that the banks and mortgage companies don't appear to want to stop foreclosures. So what should the government do? Why not transfer all those 14 million foreclosed homes to HUD, as rental apartments for the same people? It could be a federal law, a Mortgage Modification- Foreclosure Prevention Act. The Congress could do one big fat land transfer act to get those homes back in the hands of abused Americans. If the banks don't like it … well, maybe then they'll be forced to tell America where all their stolen accounts, retirement funds, savings and pensions went to.

Give Americans their homes as rental through HUD. Appropriate a few millions to get those homes rehabbed so they will be suitable for living. This is all it will take to stop foreclosures, and to get the economy on steady footing again. If the banks have a chokehold on Congress, well, impeach Congress if they do not transfer these homes back to the people. The banks have gone too far this time! America is wounded too badly to put up with the bank lobby! Free up the houses! The time is now! Write letters to your congressman. Tell them to free up the houses as soon as they come back from vacation, if they want to keep their jobs. Don't let Obama struggle alone to put America back in a home. If you want your rights, you have to be prepared to stand up for them, or these banks will walk all over America, all over again, with Ninja loans, and taking advantage of the elderly, middle class, and the poor.


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