In regard to the big bank bail outs known as T.A.R.P....  these major banks accepted billions of dollars from the government to save themselves from failing.  When they took this money they were instructed by the O'Bama administration to help homeowners keep their homes with a modification of their loan terms.  This program is currently known as the H.A.M.P. or home affordable mortgage program.  Heres what the banks did.  They took billions in goverment money.  They contacted homeowners in default of their mtg. loans and told them they qualified for a HAMP modification.  They then told homeowners that they would be on a 3 month trial period and pay a reduced mortgage amount based on a lower prevailing interest rate.  If homeowners made their payments on time for 3 months they could expect their mortgage to be modified permanently. The banks then took the payments for well beyond the 3 months and in most cases over 1 year.  Heres the devious part.  After a year or so the banks contacted the homeowners and told them sorry but you didn't qualify for the HAMP program, but thanks for all your money.  Oh, and by the way Mr. and Mrs. homeowner, you owe us the difference between what you were paying and what your original Mtg. amount was including all late fees etc.  Homeowners were then given letters threatening them with immediate foreclosure.  So the banks took the government money, pretended to fulfill their HAMP obligation, and finally took homeowners money well past the 3 month trial period.  At the very least they could have told homeowners after the 3 month trial period expired that they didn't qualify for HAMP saving them thousands of dollars. And finally these crooked banks hired Robo signers to move the foreclosure process along more quickly even though the people hired had no authority to do so.  Many Robo signers have come foward and have admitted that they didn't even look at the foreclosure papers.  What a disgrace!  And big bank credit card policies are just as corrupt.  But thats another blog for another time.