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It's starting to look like the gov is gonna pass some bailotu legislation MOD CUT. I bought a house with an ARM mortgage just like a ton of other people except I bought within a budget of "worst interest rate possible".
Why is it that I've got to subsudize a bailout of people who either got burned trying to keep up with the Joneses, or didn't do their homework, or were speculating, or.... the list goes on. Why does the guy who was responsible through this have to pay for it??? Grrrrrr. I think some people tend to learn lessons the hard way, let them be homeless for a while, live out of their car and reflect back on what they did wrong. That's right, I said it.
-Rant off. :P
Last edited by NewToCA; 04-21-2008 at 08:23 PM..
Reason: language
perhaps the bailout of Bear Stearns should anger you just as much? Right now there are proposals out there on helping foreclosure victims who were duped through criminal means (fraud,etc.) and those people should get some help. As for the others who knew what they were doing and made bad decesions well let them sink or swim.
I don't like the fact that Bear Stearns was bailed out, but whoever made that decision must have been taking into consideration the collapse of the entire housing industry and all those who depend on it. Right now, realtors are hurting, furniture people, landscapers, blinds suppliers, hardwood suppliers, appliance distributors, roofers, masons, carpenters...I mean, small people who just want to make a living will be out of jobs. I feel worse for them than those who made a conscious decision to get into risky loans. Their livelihoods are affected by something they had nothing to do with.
Seems that something will eventually get passed, esp as we get closer to election season. What sucks is that there'll be no differentiation between those duped and those dumb, they'll all get something or all get nothing... kind of the worst of both.
because your a sucker just like me! Now you'll get to watch non paying turds have a nicer house then the one you got (just like me) and get away without paying what they signed up for................
Miami is right. Why not be mad about Bear Stearns. You are ok with big brother bailing out big business but not little peons citizens? Why are you mad at a fantasy that you the tax payer will bail out those poor sods. There are no proposals for any tax payer bail outs.
Listen here. I hate your govt. I have no use for them. But since we have to live with them then I have to say that govt should have some usefulness in our society. One of those usefulness are to protect our economy. That includes a total melt down of our housing situation which we are experiencing now.
Would you like to just let all your neighbors walk away from their homes and then they become dilapidated and occupied by vagrants? Then what will your dump be worth then? Some one has to do something and just letting the day go by is not doing it.
There has to be an idea to fix this mess. I have no answers either. Where I live, every thirteenth home is in some stage of foreclosure. More then any place on earth. I too am upside down on my home and I have a good mortgage. Do I stay or do I walk? I did nothing wrong. Neither did all your neighbors who you are taking aim at. Good for you that you can afford your new adjusted rate. You are truly blessed. Most of us are not. Have a damn heart and be human.
because your a sucker just like me! Now you'll get to watch non paying turds have a nicer house then the one you got (just like me) and get away without paying what they signed up for................
Yeah, I think that there is going to be quite a bit of resentment out there when a bill is finally passed. I'm in agreement with those who resent it, and believe it to be unfair.
I would agree to letting those with subprime mortgages refinance to the current 30 year fixed rate at their CURRENT OUTSTANDING LOAN BALANCE, but not a reduction in their debt.
Why should they get a special consideration? Everyone is responsible for their own financial decisions. Some people make poor credit card decisions, should we bail them out too? The BearSterns bailout is atrocious, the government should also let corporations suffer the consequences from poor decisions and let the market work naturally, another corporation would've taken its place.
Everyone is responsible for their own financial decisions. .
Except the USA govt. They can make all the mistakes they please with no consequences. It is afterall our money they are playing with, not theirs. They get paid no matter how bad they screw up. We dont.
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I think some people tend to learn lessons the hard way, let them be homeless for a while, live out of their car and reflect back on what they did wrong. That's right, I said it.
