|Screenshot from America Underwater Tumblog|
"America Underwater" is a project of two nonprofits, Rebuild the Dream and The New Bottom Line, to personalize the impact of the housing crisis.
Over the past two months, dozens of Americans have submitted their stories to this Tumblr. They send pictures of themselves holding a sheet of paper stating the extent to which their mortgages are underwater.
There are some prevailing themes:
- mortgage companies that have been noncommunicative with their customers
- customers who were erroneously informed that they needed to cease making payments in order to get a principal or interest rate reduction, only to have the mortgage holder commence foreclosure procedings
- homeowners who have been unable to refinance their mortgages to reflect current, lower, interest rates
Whether you sympathize with all of the content submissions or not, I think it is worth a perusal.
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