Home Equity depreciation legislation I would like to see passed.

I would like to see home equity legislation that creates a credit for home equity losses of greater than 10% retroactive to the beginning of 2008 and also does not allow a home to be foreclosed upon if it still has homeowner equity in it.

The Home Equity Depreciation Act of 2010 (my name for something that does not yet exist) would give a "credit" to homeowners who experienced a home equity loss of greater than 10% since 2008. This Home Equity Depreciation Act of 2010 can be applied towards paying down credit card debt. However, whatever home equity "credit" that is used to pay off credit card debt also results in a lowering of the homeowners overall credit card line by that same amount, or greater, and that credit card line would be frozen at that level for 3 years.

Any remaining home equity depreciation could be kept in a governmental trust account for accessing by the homeowner in portions spread out over a few years time. Perhaps to help pay for their healthcare, or college education, or, even as a matching fund down payment on a home purchase.

I would also like the Home Equity Depreciation Act to make it illegal to foreclose on a home if it still has equity in it. The beauty of this is if the bank trys to claim that the home has no equity in it, they may be undervaluing the home excessively, which would mean the home owner is entitled to a home equity depreciation credit. Either way, the homeowner is protected from unscrupulous banking practices that appear to be occurring on a daily basis.

If the home still has equity in it, than it should be applied to the monthly payment until it runs out, or have it time to run out by the time the homeowner has to leave, but not before.

INCREDIBLE, HARD TO BELIEVE STORIES ABOUT ABUSIVE FORECLOSURE PRACTICES can be found at Shame the Banks.

Meet Mike Dillion, his story should make you livid. If his story is true, the people from Fairbanks need to be INDICTED.

Chase Bank tells couple to stop making payments so they can qualify for a home loan modification, then forecloses on them.

Chase Bank, Chase Bank, Chase Bank. Another couple's home bites the dust because of Chase Bank Shenanigans.

Chase Bank tells couple to stop making payments on their home so they can qualify for a home loan modification, then forecloses on the home.

States finally telling big banks where to go, but will they follow through?

Of course it makes sense for a state to invest its funds locally. The days of unrepentant derivative deals are over, and that is the primary way that Wall Street financial investment sharks make money, they simply re-package an existing service and shave off a significant amount of the profit for themselves.

Even if the shady derivative deal loses money, the Wall Street Financial Investment sharks still shave their "profit" off of the top. Cheer your state on to fight the evil that wall street cannot seem to move away from as the states consider moving their money away from the big banks.

Homeowner fighting back against Bank Of America mortgage practices.

Learn more about how homeowner John Wright is fighting back against Bank of America. The article brings up an interesting point, why did Congress spend over a year battling about healthcare, which won't take affect for SEVERAL YEARS, while homeowners are losing their homes NOW.