Obama Says A Baby Is A Punishment Obama: “If they make a mistake, I don’t want them punished with a baby.”
Posted on 09/28/2008 9:18:42 PM PDT by Kitten Festival
Edited on 09/29/2008 6:38:48 AM PDT by Admin Moderator. [history]
It's going to be a long line, hire an attorney and have him take the deed to the bank. She then can walk away with payment in full and no bad credit.
Parva Alicia est.
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Obama Says A Baby Is A Punishment
Obama: “If they make a mistake, I don’t want them punished with a baby.”
Yup, pathetic. “I don’t like the decision I made, so I’m taking the easy road. WAH!”
Still into the old spam postings I see.
Obama Doesn’t Want His Daughters Punished with a Baby
http://www.youtube.com/watch?v=eNzmly28Bmg
CNN on Obama’s Infant Born Alive Act Rejection
http://www.youtube.com/watch?v=QPZCXcTwZPY
Jill Stanek on Obama and Born Alive Infant Protection Act (MUST SEE)
http://www.youtube.com/watch?v=VIdbYjmbFzo
Obama Cover-up Revealed On Born-Alive Abortion Survivors Bill
http://www.nrlc.org/ObamaBAIPA/ObamaCoverup.html
Explosive Audio Found Obama arguing against BAIPA
http://www.youtube.com/watch?v=ypDwNpgIUQc
Babies left to die!
http://www.youtube.com/watch?v=VIdbYjmbFzo
Pathetic is the best word I can think of.
STICK it!
Give me a break! No one cares about her except for Barney Frank????? Lady, do a little investigation! Learn who the main fools were that adamently denied there was a problem with these loans and pushed the laws that forced them to be available.
She seems to be under the misimpression that the down payment of $120,000 she made on the home represents some form of profit paid to the bank who made the mortgage loan, rather than being paid to the seller who sold the house to her.
The bank is clearly a loser financially, as the $450,000 principal amount of the loan cannot be recovered by $405,000 worth of house plus one year of mortgage payments.
And then she blames her problems on the lender -- "screw 'em", etc.
Typical liberal.
Obama Says A Baby Is A Punishment Obama: “If they make a mistake, I don’t want them punished with a baby.”
I feel for her situation, but in her blog entry she’s blaming the free market for something it didn’t do. All too common, especially these days. For starters, the housing and banking industries are anything but “unregulated.”
Well no. She’s making a business decision. Which is what Wall Street and the Bankers were telling home buyer for the last six years. They changed the view of the home from the classic “putting down roots” to “it’s a great way to make money.”
And when homes no longer become a way to make money, you’ve got to cut your losses.
we got stuch with two houses right after my dad passed away in 2005, made mortgages payments on both houses by our both working 16-18 hour days most of the time, finally sold the house at $20,000 under what we owed
we lost all of our savings, 401k - everything and then some - it was horrible and I would never do it again, but I wasn’t thinking right because my father was terminally ill with melanomia
but we thought it would be unethical to just walk out on the house up in MN...to let it just go into foreclosure...there were so many times that I didn’t hink we’d make it and through the grace of God, we just barely did
Now- the one thing I’d say that is probably one of the biggest problems in this mess is that too many states have 100% home equity 2nd mortgages. We had taken on out a 2nd on our house in MN a couple of years before we sold it - back when the market was going up like crazy. My spouse was in school and we used it to pay his tuition. In MN, they allowed us to take 100% of the value-the first loan.
Here in Texas - they put a 80% cap on mortage total indebtedness after refinancing. Meaning - if you refinance in 5 years after buying your house, and your want to either refinance of get a home equity line, the total of either the first OR the first + second can not be more than 80%.
We refi’d in Tx last fall to consolidate the debt we occured through the mess we got ourselves in over 2 houses. We were lucky that we live in an area of TX where the housing prices are still good and even slightly rising. But, when we did the refi, our national bank lender told us that Texas had by far some of the least foreclosures of the country because of that 80% rule.
So see - when you put down 10% or 20% down on your house here in TX, you can’t pull it out with a home equity loan until your home value swallows it up and then some.
It’s a HUGE safety mechinism to protect homeowners from overborrowing and help in times when housing bubbles pop, but people need to still sell their house. So unless house prices drop more than 15-20%, you’d still walk away clean.
No, it doesn't seem fair. But a lot of decisions do not turn out fairly.
Banks are greedy and unfeeling? Who knew?
God forbid Barney Frank have any more to do with our financial institutions.
vaudine
Well that’s a good point I suppose (although it still strikes me as just a dishonest thing to do). And I definitely don’t agree that “Barney Frank is the only person” that cares about her! She obviously doesn’t see how he set her situation up.
The only reason she paid so much for the house to begin with is because of the fraudulent loans and easy credit that artificially drove up the price of housing. If not for that, she would have paid much less for the house to begin with.
Say what you want, but she has made the only wise decision.
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