Seriously, I feel for the story and the situation life offered for this family. But now that they are back on their feet. I want to know what happens to them in a year. Do they get further in to debt again.
Now can they afford that new plasma TV and new car they have been dieing to get.
I hope they save their money and choose better options next go around.
Yah Countrywide only re-negoatiated the loan and forgave this poor family's debt for their own good. But come on, it just steams me. Why should I have to make more conservative decisions and be held accountable for my actions. Why can't I default, keep my home and be forgiven for my debt and go on my merry way.
This is ridiculous. Call me crass or brash. But these people shouldn't have been in the home in the first place with the way they stretched themselves. They took the risk for the adjustable variable rate mortgages.
They took the dice and rolled them.
And someone has the nerve to say that now that makes the loan affordable.
Sorry wake up and smell the coffee. I don't think we live in a socialist or communist society.
If we did live in utopia then everyone could have everything they want.
We live in a capitalist society.
We also live in a country where hard work and smart decisions were the building blocks of this nation.
It seems so many people are no sniveling and whining all the way to the bank with their hands out all the way.
Poor me syndrome I think it is called.
Step up and take some responsiblity, stop blaming the country on your decisions, just because the media says it's okay.
Just because the media brain washes society with "it's not your fault".
Who signed the loan documents and accepted the keys?
What will be next. The media stopped pretty much covering the war efforts.
Now it is the housing bubble burst.
Soon as housing has been spent by the media.
They will be saved with the economic spiral of what can be seen as a recession.
Of course the housing market is to blame for that!!!!
Not the AMERICANS that were greedy busily flipping houses and taking risks that they should not have or could not have afforded.
Mind you I know how I felt buying our last house.
We thought, my wife and I ; we better get into a house before rents go up further and houses get to a point we will never be able to afford.
I am sure we were not the only ones thinking this way.
However, we did not take on teaser rate loans 1/1 , 2/1 ARMs, or negam loans to do this.
We are thankfull for the resources we had and have.
However, we have worked hard to get where we are at and have made the sacrafices so many have chosen to still not make. cut back on spending, save, and be mindful of your budget.
So when I read sob stories like this. Two thoughts come to mind.
1. Where has this countries mind set gone.
2. Why not me.
I know why... But still begs to differ why some people are so special to get these life jackets thrown to them after rolling craps.
Okay that's enough for now. Until then.