Liberalism creates leeches like this! (Congress, Obama, downturn, school)

[Repubocrat]

I was shocked by the story of a bus driver who purchased a home for $800000 and now may be facing foreclosure. She was demanding Obama to stop the foreclosure because she does not want to lose "her" home. Have people lost their freaking minds? This exactly what Liberalism creates, a bunch of leeches who expect the Government to be their nanny! Insane!

A School Bus Driver wants bail out for her $800,000 home - Reformed Chicks Blabbing

[Houston3]

My home is paid for and I want a 100% rebate from Obama on it.

[Toyman at Jewel Lake]

What moron lent her the money...and have we bailed them out yet, while their CEO got a big bonus. She may have been stupid and irresponsible (and deserves to loose a home she can't possibly afford), yet so were the bankers that lent on this. Scary thing is they all can vote.

[springfieldva]

Originally Posted by Toyman at Jewel Lake

What moron lent her the money...and have we bailed them out yet, while their CEO got a big bonus. She may have been stupid and irresponsible (and deserves to loose a home she can't possibly afford), yet so were the bankers that lent on this. Scary thing is they all can vote.

What about the members of Congress who made big bucks off of these shady deals through their investments in Lehman, AIG, Freddie, Fannie, etc.

[Huckleberry3911948]

dont like bus drivers do you. what you guna talk about foreclosure avoidance and leeches, but styker, blackwater and DOD and 12 trillion debt that is oaky doaky. welfare is evil unless of course it is for the rich and powerful. the kick in the head, hundreds of armored vehicles made wrong, a GI welder had to cut escape holes in them, made him a hero instead of making the company redo them. the taxpayer is always the goat, yeah sure give the guy a bigmac.

[tcrackly]

Originally Posted by Toyman at Jewel Lake

What moron lent her the money...and have we bailed them out yet, while their CEO got a big bonus. She may have been stupid and irresponsible (and deserves to loose a home she can't possibly afford), yet so were the bankers that lent on this. Scary thing is they all can vote.

Funny, when my husband and I first got married in '83 all the banks were leery of lending us money for a home. We were both working, but being a carpenter, my husband wanted to buy land and build. We weren't a "good risk". Meanwhile several out of state developers built and speculated on homes that were later found to be substandard...big financial meltdown.
Later we applied for a conventional mortgage in '90. Lender wanted to approve us for 35% more than we knew we could afford. His advice was to "start a family" for the "tax deductions " and borrow more in excess of the original mortgage towards home improvements.
We followed our gut and borrowed only what we knew we could afford in a any downturn. We added home improvements on a shoe string budget.
Currently we are between jobs, victims of the current economics, but we can pay our mortgage on a home that is now worth significantly more due to our own hard work. Go figure.

[MiamiRob]

Originally Posted by Repubocrat

I was shocked by the story of a bus driver who purchased a home for $800000 and now may be facing foreclosure. She was demanding Obama to stop the foreclosure because she does not want to lose "her" home. Have people lost their freaking minds? This exactly what Liberalism creates, a bunch of leeches who expect the Government to be their nanny! Insane!

A School Bus Driver wants bail out for her $800,000 home - Reformed Chicks Blabbing

what exactly makes you think she is a Liberal? because there was nothing in the article where she stated "I am a Liberal"!
Guess what? I work in real estate & their are irresponsible people who don't pay their mortgages on both sides of the political spectrum. You probably think it's only Liberals who don't pay their bills? Perhaps I should dig out some of the horror stories like my Republican born again Christian ex brother in law who walked away from his mortgage and let his home go into foreclosure.
Spare us the "liberal are leeches shtick" already.

[Toyman at Jewel Lake]

Originally Posted by tcrackly

Funny, when my husband and I first got married in '83 all the banks were leery of lending us money for a home. We were both working, but being a carpenter, my husband wanted to buy land and build. We weren't a "good risk". Meanwhile several out of state developers built and speculated on homes that were later found to be substandard...big financial meltdown.
Later we applied for a conventional mortgage in '90. Lender wanted to approve us for 35% more than we knew we could afford. His advice was to "start a family" for the "tax deductions " and borrow more in excess of the original mortgage towards home improvements.
We followed our gut and borrowed only what we knew we could afford in a any downturn. We added home improvements on a shoe string budget.
Currently we are between jobs, victims of the current economics, but we can pay our mortgage on a home that is now worth significantly more due to our own hard work. Go figure.

We were in somewhat the same situation, I built (or to be more exact, am building, who knows when it will be "finished") my own home. Financing was a struggle (as was building while working a full time job). Progress now is as we have the cash available.

My concern is that we are bailing out lenders that make irresponsible loans like this. IMO these banks should be allowed to fail, there are plenty of others that are doing well, that lent responsibly.

[Toyman at Jewel Lake]

Originally Posted by springfieldva

What about the members of Congress who made big bucks off of these shady deals through their investments in Lehman, AIG, Freddie, Fannie, etc.

Agreed! I was against any of those bailouts, and believe that government support of Fannie and Freddie are an abomination. If the banking institutions were lending their own money, they have an incentive to be responsible. With government backing there is no accountability, and no risk to the financial business.

[Old Gringo]

Originally Posted by Repubocrat

I was shocked by the story of a bus driver who purchased a home for $800000 and now may be facing foreclosure. She was demanding Obama to stop the foreclosure because she does not want to lose "her" home. Have people lost their freaking minds? This exactly what Liberalism creates, a bunch of leeches who expect the Government to be their nanny! Insane!

A School Bus Driver wants bail out for her $800,000 home - Reformed Chicks Blabbing

Yeah...

She should just turn around and sell it at a profit.

Why do "little people" levaraging assets way out of the bounds of reality **** you wackaloons off so badly?

When the high rollers do it, you see that as "capitalism at work."

You should applaud liberals for turning leeches into capitalists.