Posted on 06/17/2010 9:10:13 AM PDT by WOBBLY BOB
The U.S. Senate approved an amendment sponsored by Sen. Al Franken that would create an office to investigate complaints by homeowners who believe their mortgage handlers are breaking the law. The amendment would create an Office of the Homeowner Advocate using money from the TARP program. “This victory means help for the many Minnesotans who are in danger of losing their homes through no fault of their own,” said Franken. “These families are doing their best in a tough economy that they didn’t create. And they need to know there’s someone who has their back when they’re trying to navigate the already stressful system of avoiding foreclosure.”
(Excerpt) Read more at minnesotaindependent.com ...
“Ummm, if people were to actually save some of their money for that so-called rainy day, this wouldn’t be happening. In my personal finance class, I teach my students to put away enough money to live off of it for 6 months in case of a job loss”
Before I started by business I went 9 months without a job. People I’m hiring right now have been unemployed for a year. I know people who have been unemployed or severely underemployed for 18 months to 2 years.
Must be nice to live in a perfect world, please tell me what its like.
“It’s 100% their own fault!”
Yep never mind entire countries going bankrupt, massive govt spending, 20% unemployment, and a shrinking economy.
Its their own dang fault.
I never stated that I was perfect, but rather I planned for any stretch of time without pay by always saving at least 10% of my pay in a savings account. Did it for 23 years and I have my emergency fund established and was able to take 9 months off to finish my masters and start a new career. I got laughed at by my coworkers who were in McMansions and driving BMW’s, while I lived modestly and drove Hondas. My house is now paid off and I have about 6 car payment left on a car that will last me another 10 years, at least. My point was to point out that too many folks live paycheck to paycheck and NEVER think about the future or what MIGHT happen...
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