This being said, my worry is a mortgage of over $2,000 a month and property taxes that continue to rise. Even if the market rebounds, albeit slowly, my property will not be increasing over 100% for sure. If I do walk away, are there ramifications other than credit and steps the bank would take such as wage garnishment to get the money back? That is my biggest concern.

Any insight would be great. Thank you.

I only hope that as you check our pages, you’ll find something helpful and useful from our site.

The parallels of this effort and the labor union are staggering… a single bricklayer on a construction of the Empire State Building does not have a “say”, however, a significant group of bricklayers organized together can slow down or even halt the construction project. In our case, a single mortgage payer is irrelevant to the financial institutions, however, if a group representing even a 10% of a bank’s portfolio approaches in unison with joint demands… it will be a different story. Their statistical models can predict individual consumer behavior, but the same statistical models “go out of the window” if we are talking about a joint effort. And it is for this exact purpose that the banks organize their mortgage portfolios to include people of different races, interests, social groups, separated geographically, and wrapped with anonymity… all of that to SPECIFICALLY MAKE IT AS DIFFICULT AS POSSIBLE TO ORGANIZE (in the financial terms this is called “diversification”). What makes things even more complex is that banks are intermediaries and do not own or control your mortgages – the mortgages are spread across tens of thousands of Mortgage Backed Securities (Trusts) each of which with its own set of “owners” (investors). [These are the investors that your bank would refer to when saying "sorry... we cannot do anything for you... those are the investors that are bad guys that refuse to modify your mortgage"]

Where does the United Homeowners of America fit in? We are identifying the Trusts, people/entities that run those Trusts and the investors in those Trusts. Then, when homeowners register, we will be matching them with the Trust that holds their mortgages, with the investors that own the Trust… and when we see that we have a substantial identifiable group of homeowners that can bond together and “arm twist”… we’ll do exactly that.

Save enough cash to make the next move. They will not help out so do the math people and do the right business decision. The banks and lenders, and appraisers created this train wreck why should we suffer upside down? There are know breaks for folks upside down, and do u really think there going to black list everyone who foreclosed?

Regards,
Jess

The banks screwed us, and the government is screwing us for more taxes and stealth taxes (fees for just about everything u need just to live). It’s my way of sticking it to the white man. If we all can do this in one move….we will lose to big government and the Mafia banks of the world…then we can start all over again without a corrupted controlled monetary system. Money concentrates power…and that is were we are at under the gun by big bankers and bought politicians. Change is good when the people and their children’s children will be finally free from their enslavements.

Wake up…. sheep are only good for fleecing, and once we catch on to their games, then they can’t fleece us anymore…then we’re only good to them dead. Do not wait till that happens and you are not ready for what is coming…lock and load, that day will be here…change is coming but not without some pain…stick it to the man while you still can.

I’m trying to find out all the consequences of just walking away. The more I look and read the closer I’m getting to leaving the keys on the counter and moving on. Most likely I will move into an apartment and never buy a home again at this age. By walking away I will be able to get all my other “credit items” ie. car and credit card payments totally paid off in less than 2 years. I just cannot continue living pay check to paycheck to pay a mortgage ($2600 a month) just to have a roof over my head. I need to start putting money into my retirement funds since I’ve lost 75% of that as well.

The banks made this…we did not get here alone. It will take at least 10 years to get the value of the homes back on track, if by then. Talk about quality of life…there is none when every month it is a struggle to pay the bills and have food on the table.