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SnoopDog

(2,695 posts)
Fri Mar 21, 2025, 04:27 PM Mar 2025

I'm retired, on Social Security, and have a mortgage. I called my bank...

I called my bank and told them that Social Security funds my mortgage payment. I then said to the nice lady that if trump takes my Social Security, they can get my mortgage payment from the federal government. I said I paid into SS my entire life, that’s my money they are withholding from me, and it is not my fault they are not sending me my SS deposit.

The nice lady took down what I said and she said she will tell her manager.

If millions of people called and said this too, banks will hopefully become active in the SS fight.

23 replies = new reply since forum marked as read
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I'm retired, on Social Security, and have a mortgage. I called my bank... (Original Post) SnoopDog Mar 2025 OP
Unfortunately, Ms. Toad Mar 2025 #1
Reality may suck, but it is what it is. n/t elocs Mar 2025 #2
I know... SnoopDog Mar 2025 #3
I believe the point is mercuryblues Mar 2025 #8
THIS Mike 03 Mar 2025 #13
Put it into banker's terms. Bev54 Mar 2025 #4
Banks, mortgage investors, etc., aren't going to support SS elimination. Silent Type Mar 2025 #5
technically, the money we put in funded the previous generations Skittles Mar 2025 #6
Except for the nearly $3 trillion we paid into Dave says Mar 2025 #14
Thank you for bringing this up. slightlv Mar 2025 #20
I'm sure the customer service representative at the bank taking calls will get right on it MichMan Mar 2025 #7
I know you are being sarcastic....but SnoopDog Mar 2025 #9
Yeah, I'm not calling my credit union and saying my payment is based on SSI. dem4decades Mar 2025 #12
then the manager said onethatcares Mar 2025 #10
I prefer to be positive in this darkness caused by the Traitorous Republican Party... SnoopDog Mar 2025 #11
Banks do not like to foreclose on people . . . AverageOldGuy Mar 2025 #15
Steve Mnuchin, The Foreclosure King Zackzzzz Mar 2025 #19
At least you have a house. valleyrogue Mar 2025 #16
Eviction Moratorium Baron2024 Mar 2025 #17
I think that the banks blue cat Mar 2025 #18
Your statement feeds right into the idea I've had that this is slightlv Mar 2025 #22
Oh yeah. This is a BIG reason the wealth of the many has been cornered by so few. Cheezoholic Mar 2025 #23
Imagine if Soc Sec did become an unreliable income source: retirees who need to move to a new rental would find Exp Mar 2025 #21

Ms. Toad

(38,237 posts)
1. Unfortunately,
Fri Mar 21, 2025, 04:29 PM
Mar 2025

SS is not a party to your mortgage. If you default, they will come after you - not SS (any more than they would go after your employer if you had your paycheck direct deposited into the account that pays your mortgage).

SnoopDog

(2,695 posts)
3. I know...
Fri Mar 21, 2025, 04:33 PM
Mar 2025

But gets the banks thinking…they might join in the fight against the traitorous Republican Party.

And, I would feel real bad for the repossess-ears.

mercuryblues

(16,171 posts)
8. I believe the point is
Fri Mar 21, 2025, 04:44 PM
Mar 2025

That if SS is withheld from people, people can not pay the banks their mortgage. Bush the lesser taught us what happens when a ton of people have their homes foreclosed on

Mike 03

(18,690 posts)
13. THIS
Fri Mar 21, 2025, 05:58 PM
Mar 2025

We don't have many obvious options, but one thing we can do is apply pressure to people who have more power than ourselves and who are in a far better position to influence these crackheads--and the finance industry is a good place to start.

They do not want a repeat of the Great Recession, or to be stuck with billions in uncollectable debt.

Bev54

(13,196 posts)
4. Put it into banker's terms.
Fri Mar 21, 2025, 04:34 PM
Mar 2025

Tell them you have a monthly income coming from the government and if they fail to send, that the bank should garnishee the government directly to cover the mortgage payment.

Skittles

(169,498 posts)
6. technically, the money we put in funded the previous generations
Fri Mar 21, 2025, 04:40 PM
Mar 2025

newer generations are funding ours

that is how it is supposed to work.......

Dave says

(5,318 posts)
14. Except for the nearly $3 trillion we paid into
Fri Mar 21, 2025, 06:19 PM
Mar 2025

… the Social Security Trust Fund, which Reagan, GHWB, and Greenspan engineered in 1983 to fund the blip of baby boomers now moving into retirement.

If the kleptocracy fails to pay, it amounts to class theft, rob from the poor and middle classes, give to the multimillionaires and billionaires. It’s class war, it’s been going on since Reagan, and our side already has been losing big.

slightlv

(7,438 posts)
20. Thank you for bringing this up.
Fri Mar 21, 2025, 07:28 PM
Mar 2025

It's been lost in the milieu of government irresponsibility through the decades. I know the repugs wanted to capture that money as soon as it started coming in, and that's actually what they began to do... funding some of pet projects and tax breaks with it. Gore and Clinton made it into a kind of "lockbox" that supposedly kept people like them away from the money. And Gore was positively ridiculed for it. Oh, how things would have been different if SCOTUS hadn't stuck their nose into OUR election and CHOOSE our Prez themselves that year!

MichMan

(16,624 posts)
7. I'm sure the customer service representative at the bank taking calls will get right on it
Fri Mar 21, 2025, 04:40 PM
Mar 2025

SnoopDog

(2,695 posts)
9. I know you are being sarcastic....but
Fri Mar 21, 2025, 04:45 PM
Mar 2025

She said she will tell her manager. Do I expect anything to happen? No, but if banks get thousands of calls, maybe they will join the fight.

At least I am doing something.

Try being positive - it’s how we win.

dem4decades

(13,663 posts)
12. Yeah, I'm not calling my credit union and saying my payment is based on SSI.
Fri Mar 21, 2025, 05:12 PM
Mar 2025

I fully expect that if Trump has his way my Healthcare will bankrupt me before my mortgage will but his fucking around will definitely hurt me and my kids.

onethatcares

(16,963 posts)
10. then the manager said
Fri Mar 21, 2025, 05:07 PM
Mar 2025

"remember 2008 when houses were being foreclosed on left and right? Well, grab your ass cause this is going to be larger than that"

Like bankers care about anything but the balance sheet..huh?

SnoopDog

(2,695 posts)
11. I prefer to be positive in this darkness caused by the Traitorous Republican Party...
Fri Mar 21, 2025, 05:12 PM
Mar 2025

And I sure wouldn't want to be the repo-man who comes to my house...

AverageOldGuy

(3,330 posts)
15. Banks do not like to foreclose on people . . .
Fri Mar 21, 2025, 06:46 PM
Mar 2025

. . . Because that leaves the bank with a portfolio of failed loans and a glut of empty houses they can’t sell. Wonder how many bankers are even thinking about it in the same way?

 

Baron2024

(1,492 posts)
17. Eviction Moratorium
Fri Mar 21, 2025, 06:48 PM
Mar 2025

During COVID I believe that there was a federal moratorium on evictions put out by the Biden Administration. I was thinking that maybe State Governments could do something similar, at least to keep seniors and disabled folks in their apartments or homes should Social Security not be paid.

blue cat

(2,453 posts)
18. I think that the banks
Fri Mar 21, 2025, 06:50 PM
Mar 2025

They want to get those houses on the cheap. Like taking farms, they’re going to take as many homes as they can too.

slightlv

(7,438 posts)
22. Your statement feeds right into the idea I've had that this is
Fri Mar 21, 2025, 07:31 PM
Mar 2025

simply a repeat of the 1930's. Instead of farms being repossessed and sold for a $1, it'll be our homes and apartments.

Cheezoholic

(3,523 posts)
23. Oh yeah. This is a BIG reason the wealth of the many has been cornered by so few.
Fri Mar 21, 2025, 07:40 PM
Mar 2025

These fuckers love rescissions, especially now. The richest today aren't like the richest during the great depression. Those wealthy folks, including manufacturing giants, had their capital tied up in income producing assets like well manufacturing. In this service economy we live in today, a recession, deep recession or even a depression will only hurt the smallest (which is the largest majority) of those that provide the services. Independent construction contractors of all types, small restaurateurs, independent kraft brewers of all types etc, you get the drift. Those that already own 90% of the wealth will just scoop up those foreclosed buildings (whether they be homes, or small apartments and small business's) at pennies on the dollar to the point where they own 90% of the buildable "plantable" land in the country. The rest will be what THEY need to provide high end services to themselves and to live upon in giant extravagant compounds behind protected security for themselves. Everyone else will be forced to pay them to have somewhere to sleep and to work at.

It will probably last 2 maybe 3 generations before wash rinse repeat, revolution then the meek shall inherit the Earth again doomed to repeat that cycle over another millennia. (except the planet will be toast this time around )

I call it The cycle of Oligarchy

Exp

(752 posts)
21. Imagine if Soc Sec did become an unreliable income source: retirees who need to move to a new rental would find
Fri Mar 21, 2025, 07:29 PM
Mar 2025

landlords saying this, "Sorry, the bulk of your income is Social Security and that is not a reliable source, so we cannot sign this rental agreement with you."

That's the future right there.

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