Using various tools I keep an eye on where readers come from.  For most of this year I have been getting a consistent dozen people or so per day who find my site based on my Citi mortgage rants.  I’ve even drawn a few comments from people frustrated and in the same situation I found myself in.  Someone commented today that they they needed a new mortgage servicer.  If only it was that easy.  Most of us never even get the chance to decide who services their mortgage.  Usually it is decided by people other than us, the ones who have to pay the bill at the end of the day.

I’ve done a lot of thinking lately about mortgages and how all consumers would be better off if the whole system was scrapped and rethought.

Were you aware that even in bankrupcy, the judge does not have the power to create new terms for your loan?  Car, RV, credit cards, just about anything else that can be bought with credit a bankrupcy judge has the power to dictate new terms to both you and your creditor, not on a mortgage.

Why is it if I don’t like the service I am getting from my mortgage company, I have to go through the humiliating process of re-financing?  If I don’t like the mechanic who is servicing my car, I can take my car to a new mechanic any time.  And he usually won’t require two years of tax returns, pay stubs, and blood vials to complete the transaction.

I’m beginning to wonder if there is a need to start a push to our congress people to reform the mortgage industry back to something that is consumer and home owner focused.