I don’t claim to be a know-it-all, but I do know where I stand in the economy. Like many others I got myself into debt by running up credit cards instead of saving until I could afford it.
It took me the last 10 years of my Navy career to pay down my debt, but even then I am still left with a pair of cards that have high charges on them (though one was to help pay my son’s dental expenses when the insurance wouldn’t so I will take that every time; the other is just do to greedy wanting on my part).
However, when I bought my house, I knew what I wanted. I wanted a payment I could afford, and one that would not significantly change over time. In other words, I wanted a fixed rate mortgage. If I lose my job, I won’t have much time to get another one before my house goes into default.
Am I crying to my government? No. If I go into foreclosure, will I cry to the government? No. I have family. I have places I can go. I will never need Nanny Samantha to take care of me.
Not so in other parts of the country. Just check out this CNN bleeding heart report on how these ‘poor’ folks got screwed by the mortgage people because the mortgage people made it too easy to get that $800,000 home. (glad I stayed at my paltry $160K range!)
What great thing to teach the kids. Take whatever handout is given then cry foul when things don’t go your way. This lady says Obama needs to stop all foreclosures. Great idea. Better yet, first come, first serve and all homes are free!
Idiots. This is your country in a nutshell. Are you just going to sit there?
The revolution is at hand. Will you be a leader or a follower?
Leading it and I am insulted I am not contritubting the funding for the people who had no business buying a house.
a leader…our 2 homes bought in our married life were both at lest 50% of the value that the pre-approval said we could afford. just in case bad times come…we can always scratch out the payments.
I’m not exactly sure what we qualified for, as I was deployed at the time and my wife handled it all. Regardless, we ensured we had a fixed rate so there would be no surprises.