While our country is RUNNING at full speed to bail out banks and those speculators who made poor decisions concerning home loans, what about the older/retired generation who is living hand-to-mouth, watching their home drop 50% in value. We are struggling to make our mortgage payments by scrimping and sacrificing (not missing mortgage payments because we were taught to budget)?

Many seniors have ~5% loans but still have trouble paying them as we are living with only a social security income. Who is looking after our plight ???? Why shouldn’t we be given some sort of consideration before the foolish speculators and the banks?

As you know, if we re-enter the workforce to try to make ends meet, we are confronted by the dilemma of a 50% social security penalty (if we are already receiving social security payments). This is NUTS! Maybe you could take up our cause as no one else is speaking for us.

Maybe there could be a 2% reduction in rates for all people making mortgage payments on-time. Possibly the Social Security penalty for those re-entering the workforce could be eliminated. Maybe seniors who are withdrawing from our IRA accounts to pay our bills and avoid foreclosure could do so without being taxed at ordinary income rate by IRS. There must be a dozen or so such things that could be done to help seniors.

Thanks for the consideration.

Tom
Minneapolis, MN