‘Politics’ Category

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 ...

 
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 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