“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

-Thomas Jefferson, 3rd president of US (1743 – 1826)

One of the things that we’re taught being brought up as Americans is that the spirit of the American people was one that would never roll over for anything or anyone, one that would fight tooth & nail for what’s right, and that’s what made this country one of the most powerful & wealthiest in the history of the world. That when push came to shove, the American people would never stand for unfair taxes from an unjust government.

Isn’t that what the Revolutionary War, The Boston Tea Party, The Declaration of Independence… the defining moments in this country’s history, were all about?

If there was anything that our founding fathers, it was unfair taxation and oppression from an out of control, greedy government. Yet in the present day, as the bank controlled government taxes its own poor & middle class citizens to pay for the bad decisions of the wealthiest, the masses sit idly by and watch it happen.

Our forefathers must be rolling over in their graves right about now.

There was an article in the UK Daily Mail last week about the citizens of Greece taking very bold action against the poor financial decisions of their government and banking system. The story told of riots, stone throwing, vandalism, people smashing business windows and setting cars on fire. The reason…

‘They are trying to make workers pay the price for this crisis,’ said Yiannis Panagopoulos, leader of Greece‘s largest union, the GSEE.

The government says the tough cuts are its only way to dig Greece out of a crisis that has hammered the common European currency and alarmed international markets – inflating the loan-dependent country’s borrowing costs.

Greek Riots

Read the full article here

Sound familiar?

And while we are in no way condoning violence, vandalism, or any other sort of radical protest action, the article did bring a thought to mind… at what point did we become so freaking complacent? When did it become unacceptable to stand up against something so clearly wrong?

Many people believe it’s the fact that so many people feel that they can’t make their voice heard. But it’s not true. They say actions speak louder than words… well dollars speak louder than both! If you’re a homeowner you can make your voice heard loud & clear – with your checkbook, or more accurately, lack thereof.

Think about what would happen if every underwater homeowner (roughly 14 million according to the most recent estimates) called their lender and demanded a principal reduction, or at least an affordable payment, and stopped paying the mortgage if they didn’t get one.

Lenders would be forced to take something seriously for a change, since obviously the government can’t be counted on to impose any real regulations. Sometimes drastic times call for drastic measures. If the people make the banks stand up & take notice, then perhaps the banks could and would start doing things to benefit their communities rather than their executives. And since it seems the government only listens to big business these days, perhaps the best way to get through to government is through their biggest campaign contributors.

But what about the hit to my credit score? What about the banks suing me for a deficiency? Sure, there are always consequences to every action…. But in many cases, the consequences of inaction are far greater. If 25% of the homeowners in this country (the estimate of people who are underwater) all had a foreclosure on record, the financial industry would be forced to shift the way they look at credit. If already cash strapped banks had that many people stop paying, they would have such limited funds available to sue anyone that the number would be incredibly small.

In conclusion, we’re not saying it’s a wise move to start rioting in the streets, or for that matter even that it’s a wise move in your particular situation to stop paying your mortgage. But at some point, enough is enough and action needs to be taken. That’s what our great nation was built upon, and it feels like somewhere along the way that principal fell by the wayside. But the fact that the people should stand up and take action against a greedy and oppressive system is certainly not lost… it’s alive and well, and last seen living in Greece.

Jon Maddux



Jon D. Maddux is the former CEO of YouWalkAway.com. Although there has been a bit of controversy with the company name, the entrepreneur passionately believed that homeowners across America would desperately need foreclosure advice and so he came up with the Walk Away foreclosure help website. Having over 11 years of real estate and finance experience, Maddux realized with the burgeoning credit crisis, many homeowners in adjustable rate mortgages and high LTV loans were unaware of what they were about to face. With that understanding, Maddux developed an affordable business model that allowed homeowners to know their rights and use the law to their advantage. Beyond the monthly foreclosure monitoring service and cease and desist letters, You Walk Away provides attorney consultation in each state and CPA consultations. Homeowners are armed with the knowledge and peace of mind they need to go through possibly the toughest experience of their lives.

Since January 2008, You Walk Away, LLC has helped over 8000 customers navigate through the hardship of foreclosure and / or a short sale. You Walk Away has been featured in news publications and TV programs such as: ABC Nightline, CNN,Yahoo Finance, Time Magazine, The Wall Street Journal, front page of The New York Times, Bloomberg, Forbes, Fortune,Money Magazine, NPR, AP, NBC, CBS and Fox News among many others. Many of these publications have used quotes from Maddux about foreclosure, short sales and mortgages as well as obtaining a mortgage after foreclosure or short sale.

More recently Jon has launched http://www.afterforeclosure.com, a free website that helps people find out if they are eligible for a new mortgage after foreclosure or short sale. There are free resources available on the site to help consumers get back into homeownership. At http://www.afterforeclosure.com and now https://www.loansafe.org, Maddux writes about foreclosure, short sales and getting new financing after foreclosure or short sale. Jon specializes in hard to get Jumbo mortgages after foreclosure and short sale. As you can imagine, with helping thousands of customers go through this process, there is special insight and first-hand knowledge that he gets and is able to share with his readers. Jon Maddux is a licensed mortgage professional focusing on helping people that have gone through foreclosure or short sale buy again with better market timing.