I just got a phone call

[lifesbeautifulmagic]

telling me to press one for instant approval for a low interest loan to buy my dream house.

I am not making this up, and this is one big reason I am against this bailout, underlying reasons must be addressed.

[OnionPatch]

1. I got a letter from Countrywide, my mortgage holder

Saying that I have an "estimated $120K of equity" in my home and can qualify for an equity loan. I know this is utter bullshit. I'm lucky if I have any equity in my home at all since home values have plummeted. When will someone make some laws against these bogus liars? This is why I support some sort of help for homeowners in default. They were rooked, pure and simple. These guys are snake oil salesmen.

[lifesbeautifulmagic]

2. what is it going to take

a 350 B bailout every six months? At least stop the predatory lending/marketing until the "crisis' is over.

[Warpy]

3. I get the ones for the home equity loans

and others that offer me refinancing at a ridiculously low rate.

No thanks, fellas, it's paid off and it's staying that way.

However, this is the kind of thing that needs to be stopped, the blind calls looking for gullible borrowers. It's abuse.