Lorindellia Everkind

Dear Friends, Family, and my Legislatures,
I am writing today as a citizen who has lost her home due to foreclosure and who DOES NOT expect the Government to step in and hand me my deed back, nor do I expect the Government to bail out the note holder, in my case Countrywide, Now owned by Bank of America, because this is not the job of Government.

In 2006 I was refinancing my home for personal reasons. The company that made my loan hired their own appraiser who assessed my home’s value at 187K. This just four years after I had purchased this home for 90K. That is over 100% increase in value in only four years. I was flabberghasted that the appraisal came back so high and I should have listened to the little voice in my head that said, wait a minute, something just aint right here. But I did not.

I gambled my shelter, my home, my little piece of paradise on a small lake, in a wonderful community in Florida. A modest home which I knew, and I am sure the bank, the appraiser, the underwriter, the insurance company, and anyone else who would have scrutinized my loan would have known was not worth 187K, but more probably was worth about 125K. The loan was made for 153K and it did not take too long for my house of cards to fall apart.

I was house poor and I could not afford to make my payments.

The bank foreclosed and they now own the home.

The housing market tanked as scores more citizens like me watched their house of cards fall and they also lost their homes.

These banks do not deserve taxpayer dollars to allow them to continue loaning money backed with unrealistically valued collateral. No more than I deserve to have the title to my little piece of paradise given back to me. I am ashamed that I accepted that loan even though my “Jimminy Cricket” was practically hollering at me not to get in so deep. I must live with the devastation this has caused my credit. So too must the banks that purchased notes that were not properly backed.

This should be the end of No Doc loans.

This should be the very last of the 6K closing cost loans on 10K equity, which are nothing more than smoke and mirror loans.

This Congress acted WELL when it did not approve a 700 Billion dollar mortgage loan company take-over. Our US Constitution does NOT have a clause in it that says the Congress will help when banks make poor judgments over and over again. We can’t always look to Uncle Sam when we make a mistake. Sometimes we have to feel the pain to learn from our mistakes.

If this Congress does anything, I hope it is that they make it a criminal activity to overvalue any property in such a gross way as my own property was valued. That is probably already a law but there are probably so many suits out there that would be facing time than our Government has the money to prosecute.

I have your emergency legislation for you; Immunity granted to any banking insiders who will come forward and tell the truth about how this mess happened. Let the stock holders hold the CEO’s and the rest of the Board Members accountable for their profound loss in stock value; not their fellow tax payers. No one forced them anyone to invest in the stock market; no one forced me into that loan. We learn from our mistakes and we apologize when we are wrong, and we do not hide the truth and hope the Government will pour money on our faults.

We live in a Republic form of Government. We are NOT a socialist society. We must take personal responsibility for our errors.

I support every one of our Congressmen and women who voted against this unconstitutional bandaid.

God Bless the USA.

Sincerely,
Leah

To comment please go here:

http://milf.newsvine.com/_news/2008/09/30/1933097-my-home-is-gone-but-i-would-never-dream-of-asking-the-taxpayer-to-give-it-back

thanks