Logic behind political effort of This Egyptian Thing

There have been many visitors to this page but very few takers. I know many have tried to contact their representatives for help only to be told their hands are tied. If I may, on the subject of targets for This Egyptian Thing: unless a member of the Senate or House are on a relevant committee, they have no say in a specific policy until it is brought to the floor for a vote. Contacting “your” Senator or Congressman will do little unless they are on that committee or a ranking member of the leadership team for their party. Contacting State governments will do little since HAMP is a Federal Policy. The only impact a State government can have is through the banking dept, and possibly Judicial, which could place some restriction on the foreclosure process like State Court Mediation. The States do not have the money to do anything, especially the hardest- hit states. Our efforts can filter down to the State level only after we get change from Congress/Treasury. The Governors at that time can be helpful. There is a time right before the National Governors Association meeting where our efforts can be placed, but that would only be to have them support our single message.

There are many things that need to be changed but we need to focus and request change in an area that can be changed. The government does not have authority over all banks and it is politically difficult to get the servicers to be forced to follow the guidelines. Our single message to take sole underwriting authority out of the servicers' hands, to perform a check on their work product with the use of a neutral third party, is selected because it can be done. The authority does exist in Congress - without overreaching - by mandating fines, which could cause the servicing industry to say "try it." Laws will have to be passed, which will be difficult in a Republican House. The GSE’s are taxpayer money, therefore Congress is responsible for their losses. Treasury “Escalation” is already part of HAMP and the servicers have already signed onto it. Court Mediation ordered by the courts is just that – a court order. These are obtainable goals and all possible with our single message, but we need numbers and a workable strategy, we have the latter. After two years, I know the landscape.

To do nothing will assure greater problems for everyone.

Send an email to sgillan@optonline.net with "We Need Change Now" in the subject line. I will reply with the full strategy.

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Lets get This Egyptian Thing Started

After two years of the Obama Administration's efforts to Stop Preventable Foreclosures, the Country is in worse shape now than it was in 2008 when the crisis started.  We all know the damage the government's failed efforts with HAMP has caused families, communities, cities, and the economy overall. 

We all know where the problem lies; the servicing industry and their unwillingness and inability to implement what is a good program. HAMP has failed - not because of the program design, but because of the servicing industry’s greed.

In our opinion, we have one option left to save millions of families from losing their homes, and stem the real estate values which continue to decline and will negatively impact every American homeowner and the economy for years to come.

The main problem with the servicer is they are improperly underwriting, ignoring HAMP guidelines, and losing documents - resulting in long delays and improper denials. We know there are other problems, but this effort, which will be referred to going forward as “This Egyptian Thing” or “TET,” will be an attempt to change what we can . “TETs” main objective will be to take the sole underwriting authority out of the hands of the servicer when possible.  Neutral Third Parties are needed to make sure every American is being given a fair hearing on a case by case basis. The servicing industry will change once they know they no longer have a monopoly on the underwriting process and that professional underwriters are checking their work product.

“This Egyptian Thing” when referencing this effort - has been chosen for a number of reasons; we just witnessed a large group of people organize quickly, offering a single message for change. Americans should stand up and take notice; we have just seen it in Egypt – one hundred thousand people, organized with social networking, had the power to bring a government down in 17 days. It is not our intent to bring down our government but to get them to listen and save our Country’s economy and the homes of millions of hard-working Americans.

Twitter seems to be the easiest way to send a message to many people at one time. We will instruct everyone to visit daily as a “follower” on twitter.com/aahmp for a daily message. Daily tweets will be given at first, informing people of what is going on. We will include some bits of information that may help people, directing them to important sources.

Our goal would be to have at least 500 people start by March 1^st , though 1,000 would be better. Based on the millions of Americans currently in this fight, along with the tens of millions of American Homeowners who are directly affected by the foreclosure crisis, we should be able to gather enough support to have a positive impact.

This terrible situation has gone on too long.  Many American families have lost their homes or are in the process of doing so – in many cases this does not have to happen. The Obama Administration and Congress have not done all they can to save families and real estate values in our country.  We can no longer sit idly by and watch this happen to good people. This mess is hurts every homeowner in America and the media largely ignores the situation. Two years is long enough – we must take some kind of action now.  It is time to Rise Like The Egyptians.  I hope you agree and will join the effort – We Need Change Now!!!

If you would like to participate in this effort, please send an email to sgillan@optonline.net with "We Need Change Now" in the subject line, an email with further instructions will be sent.  

Steven Gillan  

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