Well, the final details of the $26 Billion mortgage settlement deal are out and many people are furious over the results. Overwhelmingly the feeling is that the settlement is a bailout for irresponsible borrowers that overleveraged themselves and are now being rewarded for it. In fact, there are very few provisions to help those who are diligently paying their mortgage under the settlement deal. Only a small portion of the settlement money -- $3 billion -- will go toward refinancing mortgages for those who are current on payments.

Another fact that has folks upset is that if you have a mortgage with a lender who is not one of the big 5 banks then you are outta luck. Those who have a mortgage held by Fannie Mae or Freddie Mac -- roughly half the market -- are also cut out of the deal. In addition, loans insured by the Federal Housing Administration are ineligible as well.

Something else that has not escaped the average homeowners attention is that these lenders have received TRILLIONS of dollars in bailout money from the government, committed these crimes of abuse before and during the foreclosure process, and are only being asked to repay a tiny fraction of the money they both received and made before the bubble burst....What do you think?

Travis Torcoletti