Comments on: Sweet mother, bail me out! http://www.coldforged.org/archives/2008/03/27/sweet-mother-bail-me-out/ enjoying life so you don't have to Sun, 12 Oct 2008 06:45:25 +0000 http://wordpress.org/?v=1.5.1.3 by: Brad Hart http://www.coldforged.org/archives/2008/03/27/sweet-mother-bail-me-out/#comment-156466 Thu, 03 Apr 2008 22:00:48 +0000 http://www.coldforged.org/archives/2008/03/27/sweet-mother-bail-me-out/#comment-156466 <p>You should be concerned and ready to bail these people out for several reasons. First off foreclosure on these homes will drive down property values everywhere and rental rates sky high because of demand. Secondly high rental rates are going to force more people into social services which are a bitch to get off of once you start getting them. That problem will cost far more than 30 billion in just the short term, and we will be feeling the ripple effect of it for decades and trillions of dollars to come. </p> <p>Lastly there were very few 30k earners getting 750k houses. I don't doubt there were some, but any of that got one had several liars in the loan process helping them get it. Those people should be charged with fraud and all the other crimes they are guilty of plain and simple. The majority of people you will be helping out are not your low income earners, or weren't when they bought there house. The economy and lack of adequate health care has put a lot of us in that category. The majority of the people this plan is going to bail out is all the people who bought houses in their price range for their income and had the market tank before they could refinance them and promptly had their lenders start raising their rates on them just because they could. These are the majority of the people in this predicament and the the people you will be screwed most by if they fail.</p> <p>plain and simple foreclosure --&#62; lower property values --&#62; more money on welfare and less on education --&#62; even lower property values --&#62; even more on welfare and even less on education --&#62; </p> <p>less educated people --&#62; fewer decent jobs more people on welfare--&#62; people have to fight to get sucky jobs while decent jobs go over seas--&#62; more jobs go over seas--&#62; quite possibly you standing in the welfare line with no home of your own.</p> You should be concerned and ready to bail these people out for several reasons. First off foreclosure on these homes will drive down property values everywhere and rental rates sky high because of demand. Secondly high rental rates are going to force more people into social services which are a bitch to get off of once you start getting them. That problem will cost far more than 30 billion in just the short term, and we will be feeling the ripple effect of it for decades and trillions of dollars to come.

Lastly there were very few 30k earners getting 750k houses. I don’t doubt there were some, but any of that got one had several liars in the loan process helping them get it. Those people should be charged with fraud and all the other crimes they are guilty of plain and simple. The majority of people you will be helping out are not your low income earners, or weren’t when they bought there house. The economy and lack of adequate health care has put a lot of us in that category. The majority of the people this plan is going to bail out is all the people who bought houses in their price range for their income and had the market tank before they could refinance them and promptly had their lenders start raising their rates on them just because they could. These are the majority of the people in this predicament and the the people you will be screwed most by if they fail.

plain and simple
foreclosure –> lower property values –> more money on welfare and less on education –> even lower property values –> even more on welfare and even less on education –>

less educated people –> fewer decent jobs more people on welfare–> people have to fight to get sucky jobs while decent jobs go over seas–> more jobs go over seas–> quite possibly you standing in the welfare line with no home of your own.

]]> by: Bryan http://www.coldforged.org/archives/2008/03/27/sweet-mother-bail-me-out/#comment-155354 Fri, 28 Mar 2008 12:46:43 +0000 http://www.coldforged.org/archives/2008/03/27/sweet-mother-bail-me-out/#comment-155354 <p>Amen, brah!</p> Amen, brah!

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