A mortgage company can't buy your note and raise your rate. Not because they don't want to, but because it's prohibited by law. Someone would have tried it by now if it were possible, but you as a consumer also have rights. Your mortgage is a contract that protects both parties--if you don't pay they get your house. In exchange, you are guaranteed a rate, hence the term '30 year fixed'. If it were an adjustable rate mortgage (ARM), then you might have a point.
GM: He should be happy that he got half. If he were holding stock instead of a pension it would have gone to zero. Pension robbers (I'm talking to you, Mitt Romney!) should go to jail as it is nothing but legal theft.
People need to be informed and educated about their personal finances instead of just hoping that everything works out. Hope is a great strategy on the sports field, personal finance, not so much.