On Mon, Apr 5, 2010 at 5:47 PM, m2smart4u2000 <[email protected]>wrote:
> The housing market is not going to improve anytime soon with the Wall > Street Journal and other prominant financial papers advising people to walk > away from their mortgages. Our area is down in value about 33% with in many > cases is $100,000. > > It is estimated that at Least 25% of people in default are strategic > defaults. This is unprecedented in history. The only way out of this is for > the banks or federal government slash the debt/ principle on these loans. > > Why should the banks take a hit here? How many SUVs, how much of the ?value? of these homes was increased by plowing money into home improvements, all due to home equity loans possible because of rising home /values/? Lemme get this straight. When the homeowner is spending money like he just won the lottery because through no effort or merit on his part the value of his home keeps zooming, that's fine and dandy. It's especially fine and dandy when the homeowner is constantly trading up, way beyond his means. But when the value of homes decrease, we need to bail the homeowner out? I feel we should have a retroactive law which bails out fools like me who bought dot.bomb stocks at their peaks. The government and banks should have to pay for my greedy gambling when I lose. I should walk away with the profits I deserve when I win. A Montana rancher got in his pickup and drove to a neighboring ranch and knocked at the door. A young boy, about 9, opened the door "Is your Dad home?" the rancher asked. "No sir, he isn't," the boy replied. "He went into town." "Well," said the rancher, "Is your Mother here?" "No sir, she's not here either. She went into town with Dad." "How about your brother, Howard? Is he here?" "No sir, He went with Mom and Dad." The rancher stood there for a few minutes, shifting from one foot to the other and mumbling to himself. "Is there anything I can do for you?" the boy asked politely. "I know where all the tools are, if you want to borrow one. Or maybe I could take a message for Dad." "Well," said the rancher uncomfortably, "I really wanted to talk to your Dad. It's about your brother Howard getting my daughter, Suzie, pregnant."' The boy considered for a moment. "You would have to talk to Pa about that", he finally conceded. "If it helps you any, I know that Pa charges $500 for the bull and $50 for the hog, but I really don't know how much he gets for Howard."
