Answer:  Each of the 73 million homeowners in the U.S. would receive $191,000.

 In your opinion . . .

If you were to receive your share of the bailout money ($191,000), would you still be struggling to save your home from foreclosure?

If every homeowner in the U.S. received their share of the bailout money ($191,000 per homeowner), would there still be a foreclosure crises?

Are we, the taxpayers, responsible for paying back the $14 Trillion in bailout money that is being gifted to banks, government agencies and big business?

Do you feel our government is more concerned about big business and banks than they are with homeowners?

Adding Up the Government’s Total Bailout Tab

Beyond the $700 billion bailout known as TARP, which has been used to prop up banks and car companies, the government has created an array of other programs to provide support to the struggling financial system. Our government has spent $3 trillion and made commitments of $11 trillion and, for a total of $14 trillion dollars.

For a breakdown of the bailouts, go to: http://money.cnn.com/news/storysupplement/economy/bailouttracker

Our government’s estimate of 8.2 million anticipated foreclosures is based on the number of homeowners who have either defaulted on their mortgage payments, or homeowners who are currently having difficulty making their payments.

But ironically, homeowners “currently having difficulty making their payments”, include only those who have fallen delinquent on their payments.  Not included are 43% of American households who currently spend more than they earn each year.

If someone is spending more than they earn, what are the chances they are having difficulty making their payments?  Logic tells us that they will eventually fall delinquent on their payments when they are no longer able to borrow money, or when their savings become depleted, unless they experience an increase in income.

How likely is it that Americans, currently spending more than they earn, will experience an increase in income in the near future?

According to our government, the number of American households that spends more they earn each year has increased from 38% to 43% in the past two years.  A recent report by the U.S. Census Bureau indicates that since 2007, the year before the most recent recession, real median household income has declined 6.4 percent and it is expected to continue declining.

While income is declining, debt is increasing.  The average credit card debt per household has increased from $5,000 to more than $14,000 in the past six years.

Assuming this trend of declining income and increasing debt continues, the 43% of American households currently spending more than they earn each year, will eventually fall delinquent on payment of their mortgages, which will result in 48 million foreclosures (43% of 112 million households), as opposed to our government’s estimate of 8.2 million.

With nearly one half of American households in jeopardy of foreclosure, surely our government is doing everything possible to assist homeowners in saving our homes from foreclosure?

Two weeks ago, President Obama announced a revision to the Home Affordable Refinance Program (HARP) that would “allow many more struggling borrowers to refinance their mortgages at today’s ultra-low rates, reducing payments for some homeowners  . . . “

Is it fair to ask how many are “some homeowners”?

The answer is less than four percent of homeowners.  During his speech, our President did not reveal that, even with the new guidelines, HARP is incapable, that’s NOT capable, of reaching more than four percent of homeowners.

And the same is true of every single program, federal or state, that has allegedly been made available to distressed homeowners as related to the foreclosure crises.  All have cost taxpayers dearly while helping few people save their homes.

For example, the Making Home Affordable program (HAMP), birthed in February 2009, cost taxpayers $75 billion.  Just over one million households (out of 112 million) have qualified for HAMP.  As of July of this year, almost one half of participants had dropped out of the program.

Why does our government continue to spend their time and taxpayers money on programs designed to keep so few Americans in their homes?

For insight into this issue, see the Washington Post article outlining President Obama’s recent announcement of revisions to the Home Affordable Refinance Program.

I encourage you to not only read the article, but also the captions at the bottom of each of the photographs.  The article can be accessed by clicking on this link: http://www.washingtonpost.com/business/economy/the-home-affordable-refinance-program-harp-what-you-need-to-know/2011/10/24/gIQAXFDUDM_story.html

NOTE: The banner advertising President Obama’s 2012 election campaign has been removed since my mention of it during my radio show last week.

click on the following link to hear what homeowners have to say about it: Frustrated Homeowners

My findings and conclusions, based on my research, will be a surprise to most of you.  They are in contradiction to the advice you are getting from financial advisors, mainstream media, government and large corporations.

1) Avoid law firms that encourage litigation against your mortgage lender.  Your attorney can present all the right arguments in court and still lose.  Most judges feel you should pay your mortgage if you enjoyed the benefits of living in the property, regardless of potential fraudulent activity on the part of the lender.  Also, keep in mind, your lawsuit against your lender may not stop, or even stall, their foreclosure lawsuit against you.

2) Avoid administrative processes against your lender.  While these processes may stall a foreclosure, they are rarely effective in stopping foreclosure proceedings.  I have seen many cases where homeowners have submitted administrative-process documents to lenders to later discover their efforts were more harmful than beneficial.

3) Avoid government-backed loan modification programs (HAMP).  I believe that many homeowners have been lured into foreclosure while attempting to qualify for the HAMP program.  My bold statement is based on the following:  Homeowners are told that in order to be considered for the program, they must be delinquent on their payments.  The reality is that after eight to twenty four months of providing documentation to their lenders, very few homeowners qualify for HAMP.  Lenders ask for the same documents over and over claiming they either have no record of having received them.  They play dumb in an effort to stall until the homeowner’s delinquency allows for foreclosure of their properties.  The lender’s goal is to collect Default Insurance and gain possession of the property.  If it were anyone other than the banks (lenders), this would be referred to as a “Scam.”

If you are one of the few who are able to obtain a modification, your payment schedule will most likely be increased to forty years while the arrears, as well as fees, will be placed onto the back end of the mortgage, plus interest.   I think I would be safe in saying that very few people would agree to a loan modification if they did the math and realized they would be paying as much as 200% more for their mortgage after it is modified.

4) Significant reductions to principle and interest are possible without litigation, administrative processes or loan modifications.  I am referring to strategies that not only reduce your monthly payments, but also the balance of your mortgage.

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For the past 12 years, DOUG JOHNSON has served as an advocate for consumers and homeowners struggling with credit card debt and mortgage difficulties.

In his research, Doug has discovered and exposed illegal, fraudulent and deceitful activity on behalf of creditors and lenders.

These discoveries have rescued many homeowners from foreclosure, and as many card holders from crippling credit card debt.

As host of the popular radio talk show “TheTruth About Debt Relief”, Doug reveals little-known, outside-the-box strategies that are highly effective for all forms of debt.

In his articles and lectures, Doug focuses on the downsides of debt relief options in an effort to protect debtors from false claims made by salespeople. He is also committed to defusing misleading information disseminated by popular financial advisors, whose advice is influenced by government agencies, educational institutions, large corporations and the mainstream media.

To enroll in one of Doug’s free educational webinars concerning unsecured debt, including, but not limited to mortgages and student loans simply click the above link and sign up for the one that best describes your situation.