Have I got a deal for you!!!

A blurb from the Presidential Debate:

As president of the United States, Alan, I would order the
secretary of the treasury to immediately buy up the bad home loan
mortgages in America and renegotiate at the new value of those homes

— at the diminished value of those homes and let people be able to
make those  payments and stay in their homes

Wowsers! Mr. McCain.  Will you also refinance my loan to reflect the diminished value of my house?  I still have equity but not as much as I had when I initially bought it.  It is not my fault that I can make my mortgage payments just like it is not their fault others can’t make their mortgage payments.  I was duped into believing that I should live within my means!  Had I of known the consequences of making that decision (to live within my means) I would have made a different decision.  Living within my means is costing me big time and I have come to realize that it was just as bad a decision (if not worse) than purchasing a home I couldn’t afford.  I have discovered to my horror that I can’t refinance my house because I don’t qualify for those special loans that defaulters get and I no longer have enough equity to do it without adding mortgage insurance to the mix.  And I am sure that my bank won’t go for refinancing my home based on its diminished value… will it? 

So Mr. McCain… are you going to help me out with my bad decision making?  Believe me… I am starting to think that living within my means was a really stupid mistake that is going to continue to cost me big time as I go without these perks that other home owners are getting.

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2 responses to “Have I got a deal for you!!!

  1. AMEN to that!
     
    Our situation is so frustrating for me.  I can’t afford to put Colleen in dance lessons, or Wesley in preschool, or basic cable television.  I’m wearing the same shoes I’ve had for nearly a year now and they look pretty bad.  BUT we’re paying our mortgages on BOTH houses like we promised to.  I called the mortgage lender for our house in NC and asked for modification of terms just until it sells (we have fairly high interest on that loan – 7%).  We’ve been excellent customers at that bank since 1999 and our previous home was mortgaged through them as well.  We’ve NEVER, in nearly 10 years, EVER even been late on a mortgage payment.  They wouldn’t even talk to me, basically if I’m not behind then they don’t want to hear it.  Rewarding bad behavior and saving people from their own bad decisions is only going to prolong the downturn and make the situation worse. 
     
    Well, I feel slightly better now that I got that off my chest.  Funnily enough, the presidential debates did not help me make up my mind at all, I am more conflicted now and I’m back to the point of trying to decide which candidate will do the least damage long term. 
     
    Well I had better get going for now.  Hugs!  -Jen

  2. I SAID THE SAME THING TO MY HUSBAND! I am all for social programs like welfare, etc. to help people that need it, but this is ridiculous! I I had known a dumb politician would have made buying a more expensive home more affordable, we would have bought our ideal home, instead of the perfectly lovely and cosy home that we bought…

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