Friday, October 26, 2007

Something smells in balata!!!

http://money.cnn.com/2007/10/24/real_estate/details_on_new_Countrywide_plan/index.htm?postversion=2007102510

What the heck!!! We knew it was coming. The real question is why are we sucumbing to the needs of individuls that are now getting bailed out for making poor financial decisions.

I would really like to know, why are we now providing ARM interest rate locks on teaser loans, because the poor fools or the once thought savy real estate investors now have to take it in the shorts.

Oh poor me boo who... Who's going to bail me out now. I made a risky investment and got caught with my pants down. Oh please help me and bail me out!!!

So why can't I just walk into the bank and re-negotiate my loan. Why can't I just say oh poor me I just didn't understand and I am about to lose my home.. So please mister banker please adjust my home loan and make it affordable for me.

The problem with that is.... I did know better!!! I take accountability for the loan documents I signed with my name!!! I did not put all life and limb out on the edge of a willow tree branch hoping it wouldn't break or 'bust'.

Let's stop making excuses as a whole. Let's started holding people accountable. Oh wait that would mean we might actually have to start really impeaching presidents.

What a sad state of affairs.

So why should I continue on paying more every freaking day for my home financing, than the sobbing poor shmuck about to pay 11.0 % on a freaking home loan? Because I chose to take a safer route?? Why should that idiot be able to skate free on a teaser loan rate and keep it.

Something stinks here,, and it ain't right.

What's in store for us, only the one knows.

Hopefully the wind will shift directions and I won't have to smell this stench anymore.

But alas probably wishfull thinking.

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