Colli Real Estate

What about those of us who played by the rules prior to the housing crisis? ?

Why is it the ones who took out shady loans are getting bailed out? I understand the argument that if we don’t help them it will get worse for all- but doesn’t that just feed into the mentality that the government will just bail you out if you make a bad decision.
Here we are with a 30 year fixed at a great interest rate but have outgrown our home and can’t afford to sell because of those who cheated in the mortgage game and blew the economy. We scrimped and saved for years to get a down payment and now it is gone. If the goverment is truly interested in making things better for all it would require forgiveness of these extraordinarily high loans to those who made good decisions- (high down payments and fixed loans)- and are making thier payments. This would in turn stimulate the economy in that I came name off hand a dozen people who want to move or upgrade and cannot because of people who made the types of shady loans that they did.

I am with you 100%. It’s the biggest travesty in America today to think that my tax money is going to bail out criminal negligent millionaire bankers and low-life people with the worse credit imaginable – it is outrageous. People, along with our current super biased, anti-American media outlets, leads us to believe the politcally correct term “SUBPRIME MORTGAGE” is just representative of a certain type of loan to finance the purchase of a home, when in reality, it is analogous to “special finance” in the automobile industry. Anybody who pays their bills late, regardless if you pay your bills months late, is able to finance through with a regular loan, although at at higher interest rate. The people in the subprime mortgage loan are people who don’t pay attention and who has never paid a bill in their life. For instance, if you had a car repossessed last month, or had a house foreclosed on last year, an FDIC bank would be forced to deny your request for a mortgage. However, these are the people who make up 99% of those individuals who were given subprime financing. The vast majority of these people bought houses, knowing they were never going to pay, so in effect, were going to live rent free for over a year until the banks foreclosed on the property. In addition, almost all of the so-called subprime “victims” actually financed for amounts far exceeding the purchase price of the homes they were buying and pocked the excess for cash ($20-60K) as spending money.

Now our outrageously bizarre system is placing the burden on us, to pay for these people’s lifestyles! What about the hardworking people with children who live within their means, buy a house they can afford, don’t go out to dinner every night, don’t buy new clothes every week, and don’t vacation every month?

In a fair, perfect world, the subprime people should be thrown out of the properties and the criminally negligent greedy executives who propagated these horrendous, get-rich-quick scheme, sure-to-fail loan packages should be prosecuted and forced to pay back their $35-50 million salary bonus packages to the govt in order to finance the bail out scheme proposed.

How dare the govt shift the burden to the innocent taxpayers like you and I!

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