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Archive for the ‘housing’ Category

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?

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So I guess if it worked in the 60’s and 70’s, it will work here. The problem is, however, in the 60’s people were civically disobedient to correct a major tragedy- civil rights for blacks. They were also civically disobedient towards the Vietnam war. They exercised their right, as is put forth by our constitution.

Now, however, the voter-fraud leaders of the pack (ACORN) say this:

“On Feb. 19, ACORN members will launch a new tactic in fighting foreclosures: civil disobedience. Participants in the ACORN Home Savers campaign nationwide will simply refuse to move out of foreclosed homes, or in some cases, will move back in. ACORN homesteaders intend to squat in their homes until a comprehensive, federal solution for people facing foreclosure is put in place.” [HatTip: Michelle Malkin]

So, basically, because some people got themselves in over their head, or they fell on hard times and got evicted from their homes, it is the governments responsibility to save them?

Why do we bother?

Damn it, I cannot pay for my groceries, so I am going to stage a sit-in at the local Winn-Dixie until they give me food for my family.

Idiots.

The revolution is at hand. Will you be a leader or a follower?

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While not exactly true, the title does give a great indication of one provision in the forthcoming Generational Theft Act of 2009. What do I mean? Right from the text, found here:

SEC. 7001. MANDATORY LOAN MODIFICATIONS.

Section 109(a) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5219) is amended—
(1) by striking the last sentence;
(2) by striking ‘‘To the extent’’ and inserting
the following:

‘‘(1) IN GENERAL.—To the extent’’; and
(3) by adding at the end the following:

‘‘(2) LOAN MODIFICATIONS REQUIRED.—
‘‘(A) IN GENERAL.—In addition to actions required under paragraph (1), the Secretary shall, not later than 15 days after the date of enactment of this paragraph, develop and implement a plan to facilitate loan modifications to prevent avoidable mortgage loan foreclosures.

‘‘(B) FUNDING.—Of amounts made available under section 115 and not otherwise obligated, not less than $50,000,000,000, shall be made available to the Secretary for purposes of carrying out the mortgage loan modification plan required to be developed and implemented under this paragraph.

‘‘(C) CRITERIA.—The loan modification plan required by this paragraph may incorporate the use of—
768

‘‘(i) loan guarantees and credit enhancements;
‘‘(ii) the reduction of loan principal amounts and interest rates;
‘‘(iii) extension of mortgage loan
terms; and
‘‘(iv) any other similar mechanisms or combinations thereof, as determined appropriate by the Secretary.

So, what is being said is, if you are in deep kimshee with your mortgage, never fear. There will be $50 billion (in addition to the $20 billion asked for by the House) available for banks to renegotiate your loan to a better price.

“Your home has lost half of its value?  No problem, Mr. Smith, we here at Gov Loans, Inc. can just appraise your new home value and get you a loan based on that. No worries!”

“What is that? You never miss a payment? You have always been on time with all of your bills? I am sorry, Mr. Jones. It seems that there are no programs to help you out. You just will have to live with the fact that you owe more than your home is currently worth.”

“What is that, Mr. Illegal? Why of course! Senate Majority Leader Harry Reid has blocked any chance at having to prove you are a legal citizen. You are fully eligible for money too!”

From the Declaration of Independence:

"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness."

Not that I am proposing an outright revolution, but the Civil Rights Movement of the 1960’s may have a new purpose: A Modern Day Boston Tea Party; No Taxation Without Representation.

If we call and scream and badger our representatives and they vote against us anyway, it is our duty to remove them from office, by any means required.

The revolution is at hand. Will you be a leader or a follower?

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