by Feed your head with a play by Pamela Olson

Created on: August 27, 2008   Last Updated: September 16, 2009

Is an adjustable rate mortgage or are upside down? Force your lender to play fair. Refer them to the rules they have to do a loan modification for you.

A way has already been here to get us out of this terrible housing collapse and frightening recession, but the home lenders aren't willingly doing it. Why?

Washoe County's home values continue go down. Same story for the state and nationwide. Many homebuyers bought at the top of the market in summer and fall 2005. When the housing market collapsed, their houses are now less than the mortgages on them. Realtors continue to advise that we are in a continuing Buyer's Market, with housing for sale/for rent inventory extraordinarily large. The result is home values and rents continue to go down. More than 29% of the inventory in the Northern Nevada MLS is bank-owned. The pundits continue to predict Reno not to hit bottom until winter 2010 because buyers are convinced home values will continue to go down. The American economy is in a recession. Senator McCain blames home loan lenders.

Realtors are not interested in taking any more listings for upside down properties as they are flooded with them and can no longer afford the costs to market them.

Due to the recession, Congress, the President and the Presidential candidates are all strongly favoring a freeze of several months on foreclosures, and a freeze of several years on upward interest rate adjustments. Senator McCain said that the home lenders created the housing problem causing this recession. He believes the lenders have to solve it, NOT the American government on the backs of American taxpayers.

Bankruptcy attorneys are getting court-ordered home loan modifications as it has increasingly become against public policy and unconscionable to throw people out of their homes because they are upside down.

Homeowners are upside downs solely because of the lenders previous greedy lending practices. Many have accused the home loan lenders of pandering, Unclean Hands and being a threat to our American economic interests and security.

An immediate note modification gives homeowners time until the housing market recovers, the economy recovers, homeowners' credit can start being repaired to its previous flawless condition, and would not add to the already bloated for sale/rent housing inventory. In 2005, HUD put forth its "FHA Loss Mitigation Program gives lenders the authority and responsibility to assist homeowners who have fallen into financial difficulties with their

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