Posted on 08/05/2010 8:17:27 PM PDT by The Magical Mischief Tour
Until this is dealt with the housing market will never recover...
And then there are folks like me, who have more than 50% in equity, by having a sizeable downpayment, paying down principal, and staying in the home for 17 years. My home value is down, but still more than my mortgage balance. And my lender is a regional bank that’s a portfolio lender - that is they keep and service the loans they make.
What do I get for being responsible? I get stuck with a larger tax bill, so that my money can go through the Federal government to help buy more votes for Obama’s constituents. Afterall, it’s the Chicago way!
Tea Party ... Tax Revolt ... Civil War
These people would become overnight the biggest shmucks on the planet ... and I’ll bet mighty angry schmucks.
You’ve got that right. If they do this I can’t even imagine the uprising and outrage that we’d see.
There has got to be a way to stop this rape of our country.
I can’t believe this is happening and the pace at which it is happening. And all without a shred of shame or caution.
If a member of Congress has one of these underwater loans on their house, I think they’d have to recuse themselves from voting on it.
beer and sausages?
How about Waygu beef and arugula salads for everyone—oh and a government-paid vacation to various politically correct destinations.
If you find yourself with nothing to do this weekend, see if you can find
- number of households in the U.S.
- home ownership percentage
- percentage of homes owned outright
- median price of a home x 80%
- how many trillions have been pledged via TARP, Obama’s budget, miscellaneous financial chicanery
Then...do NOT do the math of trying to determine how much of the average mortgages could have been paid off instead of shoveling it straight into the pockets of Wall Street. You will NOT like the number you see.
Some of the comments on the source page are infuriating.
“What’s the big deal? If your neighbors can benefit from this, you might be envious, but you shouldn’t be angry.”
(sic)
There should be an IQ test and Consitution quiz on every ballot.
If you bought your house just to live in(crazy, I know) and paid your bills on time ,and didn’t use the house as an ATM,this does you no good at all.
"Why Canada's Housing Market Didn't Crash" http://www.freerepublic.com/focus/f-news/2544556/posts
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