Tagged with " Jamie Dimon"
2 Nov
Posted in: HARP in the Media, My Ongoing Story
By    Comments Off on Take My Money, Please

Take My Money, Please

I’m Still Making Payments Every Month, So Why Doesn’t Anyone Want My Money Anymore?

Couldn’t one of my mortgage holders take over the other mortgage holder’s loans and offer me the lower percentage rate?

I get it, I don’t have any equity because my house is worth less than when I bought it. But I never had equity in the first place, and now that the banks are supposed to be helping us get back on top of things, it’s harder than ever to get anyone to do anything.

CNN Money reported that over 100 banks received over 200 billion dollars, allegedly to promote new lending. I’m still stuck with outrageous mortgage payments while  Jamie Dimon, JPMorgan’s CEO who ushered US Bank through the financial crisis, just got a $19 million dollar raise.

More recently, in November of 2011, Bloomberg News reported the following:

The central bank provided emergency loans, asset purchases and other aid totaling roughly $7.8 trillion during a two-year period ending in March 2009, easily the largest component of the government efforts to bulwark the financial system.

I have loans at percentages that are no longer appropriate for the market, with two different banks* that received upper-end amounts of bail out money. How is it any more of a risk to them to refinance me? I’m already a risk. I already have the loan, so lower the interest rate so that I am less of a risk because I am more likely to continue to sustain my payments over time. Isn’t that what the bail out money was for?

And Jamie Dimon isn’t the only one giving himself a nice fat raise, banks are making less, while bonuses are being handed out by the millions. *Bail Out Money Received by the Two Banks Holding My Mortgages Bank of America: $15,000,000,000 U.S. Bancorp (US Bank): $6,599,000,000