Economy And Foreclosure!

Here comes the money for about 9 million homeowners who had no business owning the home they did. Part of the massive “welfare bill” President Barack Obama signed into law will give $75 billion to help these people stay in their homes. I guess I shouldn’t really say all 9 million homeowners are to blame for this mess. I would however say maybe about half, just to be on the safe side. A lot of these people lied about income or where part of some questionable dealing with lenders to get the home they couldn’t afford. I know for a fact that lenders where doing questionable deals to get be in homes they couldn’t afford. This almost happened to my wife and I. When we we’re in the process of purchasing our second home they told us we could get a loan in the range of $150,000 to almost $200,000. I thought in my head, “are you kidding me.” I told my wife we would never be able to take vacations or do anything if we made a purchased for $200,000. We both would have to work and work and work in order to just make those payments. So we smarten up and told the lender no way will consider on a $200,000 loan. That’s my story, but there are many out there that listen to the lender and went with that questionable loan for $200,000. Now these people are out of a home and have lost everything. But now with this new “welfare bill” you can stay in your home, which really seems unfair if you ask me. Basically what President Barack Obama is saying is “it’s ok if you made a bad choice, the American People will bail you out.” That’s the wrong message being sent, this bill should have never passed, people need to pay for their bad choices.