Why should we feel sorry for people who used their homes as a piggy bank – taking all the false equity out?
Absolute power corrupts asked: to pay off credit card bills, buy cars etc.? Many are now in foreclosure and will benefit from the adminstration that ...
to pay off credit card bills, buy cars etc.?
Many are now in foreclosure and will benefit from the adminstration that rewards irresponsibility?
Case in point:
The home ACORN broke into (and btw several people have been arrested and charged – before you say they did nothing wrong):
“What ACORN didn’t tell you: Hanks’ house was sold in June 2008 for $192,000. She bought the two-story home in the summer of 2001 for $87,000. At some point during the next five years, she re-financed the original home loan for $270,000. ”
http://michellemalkin.com/2009/02/25/no-tears-for-these-foreclosure-victims/
I am not talking about people whose homes lost value, I am talking about people who originally had reasonable repayments – who financed again and again to where we are now stuck with their irresponsibility
On yahoo news they also have a woman who started off with a very reasonable $37k loan who refinanced into a now unreasonable $145k – she is whining when she could have actually paid the original note off – now we are stuck with her tab -
loans for people in foreclosure