Soon You Can Flee Your Underwater Home. But It Will Cost You - Yahoo! Finance

Soon You Can Flee Your Underwater Home. But It Will Cost You - Yahoo! Finance:

THEY CALL THIS HELP????
http://finance.yahoo.com/news/soon-flee-underwater-home-cost-104259920.html

10.7 million, were underwater at the end of the third quarter, the firm said. The worst-hit states—Nevada, Florida, Arizona, Georgia, and Michigan—accounted for more than a third of all underwater mortgages. JP Morgan estimates that the number of properties with negative equity could fall to 4 million by 2015, Bloomberg News reported on Monday.

Why did it take so long to come up with such a restricted program to help struggling homeowners? The politics of bailing out borrowers who took on more debt than they could afford have haunted the housing market’s recovery since the collapse of subprime mortgages led to the 2008 financial crisis. (It was, after all, CNBC reporter Rick Santelli’s February 2009 on-air rant about not wanting to “subsidize the losers’ mortgages” that has been widely credited with forming the Tea Party movement.) On the other hand, Fannie and Freddie have gotten nearly $200 billion from taxpayers since the 2008 crisis.

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SAVE YOUR HOME

MY NOTE about article above:  I HAVE to ask --  WHAT bailout to taxpayers ?  Taxpayers saw no relief, short sales take months, our took 8 months, Modification often ended in lost paperwork and foreclosure.   Modifications were a dismal failure and homeowners wrongfully foreclosed on got nothing to compensate.. .NOTHING... Do you know anyone that received anything from the big settlement yet?  Smoke and mirrors. People early on in this crisis were foreclosed on while modifying, foreclosed on when loan originated with a toxic level to rival Chernobyl's toxic radiation.

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