You have Lost HUGE Equity, and those whose Flat Out Lies and Fraud got you That way, well they got a "Bail Out".

It is Very Wrong that so many Real Estate Consumers have LOST so Much Equity due to falling home prices. When at the same time the Lenders, the Banks who let appraisals come in too high deliberately, gave Stated Income Loans, and allowed the market to falsely rise at their gain ... well they get to simply show huge loss with the home market falling ... yet they pocketed the money from your interest and the money they made hand over fist while "it was good" then well it looks like the bottom has fallen out.. so the banks get a bail out to save the "Economy". Money is printed, made up and life goes on.

Meanwhile, My Friends, My Family and the Real Estate Consumer I speak for, well they have lost HUGE amounts of Equity. There should be a program to bail them out. There should be a way to make up for that equity that was falsified when the got their loan. Banks, Realtors, Lenders knew that the "home value" was not real, knew that it was falsely inflated... read books like Confessions of a Sub-Prime Lender, or Mortgage Broker confessions and you see plainly they all knew. Yet they Get a Bail out and Why Not You? Well see you are needed to get the economy booming again, your interest, your debt your money gets them back on their feet and keeps you under their thumb.

So many situations people now owe more then their home is worth, and no relief in site, they still have to keep paying that Debt when the Real Estate Market Lied to them, mislead them. And by "industry" I mean the appraisers - lenders - banks - Mortgage Brokers and Realtors. And Banks, well they get money thrown at them while you drown in Debt, and it was Debt they created.

If the home is not worth what "their Industry" said it was, then why do you have to Keep Paying them, it is not fair - and is not Real Estate Consumer Friendly in any way.

With the Bank Bailout, why not something consumer friendly like re-appraise your home in the current market and change your loan. They got Government money, and not even a slap on the wrist, though I am telling you as an industry insider, they knew what was happening and the FALL was inevitable. My Guess, those at the Top stashed away plenty of money in assets while the "Getting was Good". And now they get to sell the houses they are taking from you, and well as the market floods with foreclosures it is getting hard to even sell houses at %50. yet the Banks keep taking them instead of reducing the Debt, why?

Realtors, NAR is working with Government Entities, and their Big Fat Clout to get the housing market back on it's feet. They act like do gooders but really they wanting lending standards loose again so they can make more money and sell more stuff. Because even if the industry does get going it won't quickly help those who have lost hundreds of thousands in Equity. So why is NAR believed by so many as to be of a Higher Standard? And that they are out to do right by consumers, As if NAR speaks for the People. NAR really speaks for their own Pocket Book.

It will take awhile for home values to go up, you are still stuck with your debt and as the market is FLOODED with cheap homes, these Real Estate, MLS Listings ... well they become Comparable Sold and drive the "industry worth" of your home even further down. So why does the "Realtors" NAR continue to act like they are pushing to get housing on it's feet and that they are doing this on behalf of the real estate consumer, when really they are simply out to get properties SOLD and the easy money flowing again.

If NAR was really for the people they would Lobby for Big Relief for so many that owe well over a hundred thousands dollars more then they could sell for in any time in the near future. There is so much that NAR could use their "Clout" for to Empower, Assist and Enable the Real Estate Consumer but that is NOT really what the National Association of Realtors is REALLY about.

NAR is about NAR, they have a different President to do their speaking every year.. so who is making all the money at the TOP of NAR... I mean Cendant, Reology, they change their name so much... HomeGain.. there are tons of businesses hiding under the "do good" umbrella of NAR.

Do NOT Use a Realtor. Demand that Banks, Lenders take responsibility for their part in all this. Why Should You be Stuck with Debt on a house that was not "worth" what you paid? The real estate industry in all it's part is what got you into this mess, Demand Accountability.

Crystal L. Cox
Real Estate Industry Whistleblower