Americans, 3 Step Take Back: If you purchased a home during 2000-2011.
Banks cannot foreclose on your primary residence property. (See note below)
Banks must assign a case specialist to homeowners who will be their one point of contact.
Banks must reduce principal loan balances to current market value, and be required to refinance the balance at a 3% fixed rate mortgage
The only way for the American People to take control over the financial crisis that has hit our nation, is to stand up and make our voices loud enough to be heard. It is not fair that in a country as rich as ours, no one seems to be willing to right the wrongs that was done, behind the scenes by big bank. Reports have recently revealed that over 67 members, that hold seats in congress, are millionaires. I appreciate the fact that that these people have worked and earned a piece of that great American pie, but they will not be able to identify with the needs of the middle class American, in the current state of this economy. This was evident when Mr. Romey wanted to make a $10,000 bet on a nationwide television debate. Then also to read a few months ago when another politician made the statement that it would be difficult to feed his family on $200,000 a year if his taxes were raised. We as hardworking, tax paying citizens, can either do something about what’s going on, or continue to shake our heads in discuss. Many big banks received taxpayer funded funds, to get the help they needed to gain leverage to operate. Many of these same banks have moved so many families into foreclosure, contributing to the homeless crisis, and driving down home values. Bankers have said, “They all bought homes they couldn’t afford and now must to lose them to foreclosure. They were clearly “irresponsible borrowers, who never should have done what they did. That they are losing their homes to foreclosure is simply the natural order of things. JPMorgan Chase CEO, Jamie Dimon has even said that he considers foreclosure a form of debt forgiveness… almost a gift really.”
Let’s put a stop to this crisis now by joining with me in signing this act to take immediate action on this issue.
With the 3 Step Take Back, once the new deal is signed, notarized, and complete, banks will then be able to pursue foreclosure if the homeowner default.