Assistance for Homeowners and Homebuyers this week

I received an alert in my email notifying me about an up coming NACA event for homeowners in Los Angeles. (Thurs 10/31 to Mon 11/4 at JW Marriott 900 W. Olympic Blvd 90015). For more details visit the NACA website. 

I currently own a home in NoHo that is still underwater (according to Citimortgage) and after going through the entire run around with them to qualify for the HAMP program only to be denied because the documents that I sent in expired during the time it took for them to "lose" and then "find" the correct documents. A scam I'm sure. I am not eager to begin the process all over again. I am tired, frustrated, betrayed, all of those victimy type of feelings and I'm pissed off. I almost don't even care if I work out my house situation and feel more drive to sock it to the man.  CitiMortgage being my man. I would sock it to others as well.

According to the NACA website, The banks were given 2 BILLION DOLLARS by the government to help struggling homeowners. And the messed up thing is that the banks are the ones to determine if you are struggling enough, yet make enough money to be worth continuing doing business with you. 

This infuriates me beyond belief and I feel like I am the only one going through this. I am the only one in my neighborhood who bought at the height of the inflated housing price. Others have sold cutting bait before it dropped too low. And aside from a small hand full of neighbors the majority of the people in my neighborhood are now renters. 

I admit I was eager to take a loan that I knew I would never be able to qualify for had the restrictions been in place. The realtors convinced me that I would be able to sell it in 2 years at a profit and then have enough money to get a more secured loan in the future. They insisted that, even though the end was quickly approaching, the collapse was not and would not happen. I fell for it and am in this suffocating position. I have not stopped making payments. I have found ways to afford the house over the years by cutting back on household expenses. Selling a car to make a house payment. I sold my guitars. I rent rooms out even to the point where there 6 people living in my house. Doing whatever I can to afford it. Knowing full well that I have been paying the maximum for a house that the bank would say was only half the value (that the bank had appraised at full value just months before the collapse. . .) All of this whining to say that I am a good person, hard worker, and will do anything and everything in my power to stay on top of everything. I'm not asking for any handouts just for the banks to meet half way. I have spoken with 3 people who have tried to get the HAMP modification, all hardworking people, and all 3 were denied. That makes 4 of us. In fact, I have never heard of anyone actually getting approved for the HAMP. Actually, I did hear of one person, she worked for the bank and lived in Missouri where the housing market wasn't hit nearly as hard as California. 

For years I have gone to my bank wanting to refinance into a lower interest rate. I was turned down over and over because my house was too far upside down. And now with housing prices creeping back up, the banks now would rather you lose your home than give you speedy and helpful relief.

Has anyone had success with any of this? I feel like we should start a support group.