Pay you're damn mortgage on time. Because of ppl like you, the US dollar is crashing and the US dollar will lost 50% of its value in a couple of years. And if you can't afford a mortgage, then dont get one!!!!!!!. Isn't there anything that can be done about this?

[Qtip]

Although consumers play a role in the housing problem, I think that we need to look at all the lender bombarding people with propaganda to refinance their homes. They where telling people that they could afford this homes, now that push comes to shove and the five year arm is expired allot of people are finding themselves with a mortgage that is well beyond their means.

[enemys_enemy_is_my_friend]

Short Answer: Citizens who do not vote and or keep abreast of elected officials vote.
Long answer:
1) Financial Intuitions (CC and Mortgage) lobby our State & US politicians with legal money and favors. IE: 1st outrageous CC usury laws passed in CA/DE 20 years ago.
2) Politicians pay back favors (financial institutions in this case) by passing laws which benefit ONLY Big Business Financial Institutions.
3) Elected Officials know disengaged apathetic Citizens will allow them to do it to us.
4) Home Construction began hiring illegals. Many construction companies placed ads in MEXICAN papers to entice with wages below those paid to Citizens & putting US Citizens out of work while same builders chose NOT to pass savings to buyers.
5) Realtors/Model Home Sales persons who “sold” the “Great American Dream” scenario to many “Inexperienced First Time Buyers”: “Mr. Jack & Jill; you can afford a much larger home which your family will be able to grow into with an ARM Loan. Not to worry when the interest rate increases you will be able to re-finance. You know both of you will receive numerous raises/promotions with salary increases before the 3-5-7 or 10 year ARM comes due”.
Blame where blame is due. Government is BROKE & NO LONGER for the people, by the people; need we forget PORK EARMARKS? Tea Time Anyone?
FACT: Ain’t over yet. More 3-5-7- &10 year ARM 4closures to come. Anyone able to look into their crystal ball to see if government will continue to lower interest rates to keep the stock market stable? If so what affect will it have on our economy? Illegal aliens are beginning to lose their jobs in home construction. How will they feed their families and put a roof over their heads? Big business interests block every attempt to send even those arrested or those with fake and or identity theft stolen documents back to their countries of origin. Truly upset? VOTE. Do something about law makers in lieu of blaming buyer. Average Citizen Response is; OHHHH that’s too hard; WHOA takes too much time; and I love; “if I vote I’ll be called for jury duty” (in TX is from DL). Agree the hurry up and wait is a little boring but the first hand human dynamic of the legal system should be experienced. Takes 3 minutes to subscribe to a political alert organization like Congress.Org. who will email a link to bills due for a vote. Like it or NOT? Click on link to let your elected officials know. Start a network of family & friends. Pick up the phone and call your State/US officials. Shut down the switch board as during the “Shamnesty Scam” when politicians from both parties tried shoving it down our throats. FYI: As of this date US elected officials (both parties) are taking a back door approach by adding bits and pieces of the original “Shamnesty” (now called Dream Bill) to bills such as the Defense Spending Bill which is up for a vote. Citizen; think the government will take care of you? Checked on New Orleans progress lately?
Why don’t we (every American Citizen) all donate 10.00 to purchase an island and send Washington & Hollywood there for a do over?