Cold-hearted snakes

Sacramento's housing market is, by all accounts, on the upswing.

According to figures from the Sacramento Association of Realtors, July sales in Sacramento County were up 12.3 percent over the same month in 2014, and the median price increased 7.4 percent in the same time period, from $272,000 to $292,000.

My husband and I recently lucked out with a nice home at a cheaper price than what we paid for a home in 2005. We short-saled that property after I lost my job and our home lost more than half its value. We tried to hold on, but it proved impossible after being denied a loan modification through the Home Affordable Modification Program, a government plan designed to help lenders revise loans for borrowers who faced the same hardships we did. Our bank, however, refused to play along.

The decision to sell was tough, but ultimately it made sense from a cold-hearted business perspective.

What about those who didn't walk away, however? Many are still way underwater, unable to sell without a loss.

Many also sought help without success. According to a recent story in The New York Times, HAMP was designed to help millions. To date, more than 4 million have applied for relief but only 887,001 borrowers have been awarded a modification.

The big banks—the same ones that received government bailouts—are simply opting out of the chance to pay it forward.

Cold-hearted business decisions, indeed.