Many of us were convinced to take a loan to improve our present one or buy a better home. This made good sence but for the economic and housing crash. We're NOT economic analysts so didn't know this would result in our homes dropping 50% in value making refinancing impossable when the confusing initial loans suddenly doubled our payments.
The Government's task is to do for us what we can't do, we can't run our own sewer systems, electricity, roads OR deal with what is now a world wide economic crash for the 99%.
Our Homes' values need to be re-adjusted to the current value, Those who CAN repay loans need to be helped to buy homes again and those that still are struggleing to hold on to theirs need the option of a reverse morgage or affordable refi.