Posted on 09/28/2008 7:58:23 PM PDT by mouse1
Dan and Judy were the typical American couple. Ten years ago they purchased a modest 3 bedroom 1000sq foot ranch home in a quiet suburban neighborhood. It was everything they ever dreamed of. Judy loved the huge yard surrounded by raspberry bushes and the family spent many nights laughing around the fire pit while roasting marshmallows.
Dan built a rec area in the basement so the teenagers could have their friends over for vidio games or a game of pool. They worked hard and enjoyed life. Family are their fondest and most treasured moments. It didnt matter to them that they had a mortgage payment, car payment, credit card payment, loan payment. They were living in their means, never late on a payment, excellent credit history.
Five years ago Dan was in a horrible accident. Two surgeries helped Dan to walk with the assistance of a cane, but did nothing to alleviate the constant pain. Doctors suggested Dan give up work, but at 39 years old and a stubborn streak, Dan continued to get up every morning and perform his job. He did the best he could and on a really good day, he would manage to get six hours in. He never was able to return to full time employment.
Suddenly Dan and Judy found their income cut 25%. In addition, small repairs that were once a breeze for Dan, were now bothersome or impossible. Bills that were always paid weeks in advance were now a chore to pay on time. They had no choice but to take out a second mortgage. They knew at some point they would have to make lifestye changes.
On Dan's Birthday, April 13 2007, they decided to put their house up for sale. Judy talked Dan into trying to sell it themselves. The equity wasnt that much after the second mortgage and any additional profit could be used for building their future. Judy spent many hours pouring over recent home sales, attending open houses, painting the interior/exterior, tiling floors.
On August 23rd, 2007 Dan and Judy handed over the keys to the new owners. The house sold for $5000 less than the asking price. Dan and Judy walked away with their credit only slightly bruised. Of course, it was the right thing to do, but that didnt stop the river of tears flowing from Judy's eyes. So many memories, their first Christmas, good times around the fire pit, the time Dan and Judy were suppose to be gone for the weekend, but came home early just in time to break up the party that their boys were having at the house.
Today Dan and Judy live in a quiet apartment with their 13 year old daughter. They love it. It was the hardest decision they ever made, but it was the right one.
So, what does this have to do with the current mortgage bailout? Everything.
If you cant afford a house, you don't own a house. In my honest opinion, most home owners currently facing foreclosure are probably not credit worthy. Yet our government wants to renegotiate the loan terms. Just another example of wealth redistribution. Owning a house is not a right, it's a responsibility.
Our government wants us to bail out banks, including foreign banks and buyers who made poor decisions. The bail out no doubt will have hidden funds for ACORN, the same group that promoted bad buying practices. Maybe they will be the ones doing the renegotiating. Furthermore, the people in Washington drafting this bill are the same ones responsible for the current mess. They should be in prison - not on the hill. Nothing positive ever resulted by rewarding bad behavior.
Hell no to the bail out.
NOTE: The above story is true. It is my story.
Lets burn their phone lines tomorrow. No bail out!!
To: mouse1
Lets burn their phone lines tomorrow. No bail out!!
******************
There will be a bail out.
Give it up.
AMEN.
NO BAILOUT!!!!!!!!!!!!!!!!!!!!!!
They must think we are really stupid. I can’t believe what I’m seeing unfold before my very eyes.
Burn the phone lines..
Kickoutofcongress.com all those who vote for this crap
II. Homeownership Preservation
EESA requires the Treasury to modify troubled loans – many the result of predatory
lending practices – wherever possible to help American families keep their homes. It
also directs other federal agencies to modify loans that they own or control. Finally, it
improves the HOPE for Homeowners program by expanding eligibility and increasing
the tools available to the Department of Housing and Urban Development to help more
families keep their homes.
Another vanity about the “bailout.”
DRINK!
May G-d bless you and your family.
Great post! Thanks for sharing...
QUOTATION:
The budget should be balanced, the treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, assistance to foreign lands should be curtailed lest Rome become bankrupt, the mobs should be forced to work and not depend on government for subsistence.
Guess this problem isn't new.
Well stated. Hope you are you better.
sorry meant to say hope you are feeling better. :)
Thanks to all for your thought and prayers. I posted this earlier in the week and decided to resurect it.
Where do these bailouts stop? I can only assume the same people with the bad mortgages also have bad credit card debt or bad personal loans. Is that next? This bailout seems like a can of worms. One crawls out and gets away but there’s many more behind him.
Teach your children to reach for achievement and measure their successes, even if the socialistic society tells them not to.
In 1983 do to a business merger I found myself out of job. My wife and I owned a house that we had built 5 years earlier on family farm land. There came a time when, though we had never missed a payemnt, we couldn’t pay the mortgage anymore and had to sell the house. We both sat on the hearth in our empty dream house and cried before we left for the last time. We went from our new dream house to an old farm house a few mile down the road where we lived for 3 years before building our second home, sadly my wife died just 8 years later so we really never got to enjoy it either.
Bottom line life happens and it isn’t the government’s job to make you whole when things go bad.
God Bless you, the lessons you have learned and taught your daughter are priceless. No bail out agreed.
Where do these bailouts stop? I can only assume the same people with the bad mortgages also have bad credit card debt or bad personal loans.”
_____________________
true........(waiting for the other shoe to fall)
No kidding. I wonder how many illegal aliens who were given mortgages, were also eligible for auto loans. We already know they were eligible for credit cards. Must be nice to just be able to walk away from all that debt and just assume one of your other stolen identities.
Talk about “entitlements”.... What they don’t get for free from our Federal Government, with encouragement by our Federal government, they take.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.