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Showing posts from 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…