Oct 05 2008

How to get out of your mortgage and keep your house

Some more stuff by billymac at 1:43 pm under douche, economy, ethics, government, personal, stuff

Shoot yourself twice in the upper body while being evicted.  This happened to 90 year old Addie Polk of Akron Ohio, and Fannie Mae forgave her loan and signed her  house over to her (click here for full article).  Something tells me that this strategy will have limited returns for pretty much everybody else who decides to use this method.   Congress and “the people” can only use one symbol per crisis, everybody else in this situation is fucked.

In a similar vein, I watched a portion of Meet the Press today and Tom Brokaw stated this:  (full transcript here)

… let me introduce a moment of heresy into the political campaign. Isn’t it also time for these candidates to reflect just what Peggy was saying and say to the American people, “You’ve got a role in this, too. You’ve got to step up.” We’re not going to make gain without some pain here in the next year, and, in fact, the American people have been part of the problem that we have right now. A lot of them took loans that they should—ought not to have taken. Credit card debt is very high. And they want to turn a blind eye to things like entitlements, Medicare and how we’re going to pay for it.

I had some immediate conflicting reactions to this statement.  First, it was a bit of a sting as I have spent many years of my life living above my means as well as many many Americans, currently, my family has paid down most of our debt and have taken great pains over the last couple of years to eliminate credit spending all together.  But the statement rings true.  My second reaction was making this statement (as a member of the MSM and a puppet of our government) is like a drug dealer complaining about the junkies.  Our government has taken great pains to encourage spending both by average Joe and by themselves with their incredible deficit spending, forcing an unnaturally low interest rate, giving incentives to sub-prime mortgage houses, and by giving two fucking ridiculous tax rebates and encouraged people not to pay down debt or save but to buy buy buy.  How many of you sat down with a used car salesman mortgage broker to obtain financing to purchase a house and were told:  “you’ve been cleared for XXXX” where XXXX was waaaaaaay more than you knew you could realistically afford.

It fucking makes me sick.

6 Responses to “How to get out of your mortgage and keep your house”

  1. Hungry Motheron 05 Oct 2008 at 3:17 pm

    I agree with you, but I gotta tell you that this Joe Six-Pack is going to live within his means from now on. You betcha! ;-)

  2. sadcoxon 05 Oct 2008 at 6:54 pm

    That just about sums it up.

  3. Mikeon 06 Oct 2008 at 1:15 pm

    www.thestoryofstuff.com

    Big business owns America.

  4. Lightspeed Hardwareon 07 Oct 2008 at 8:12 am

    @Mike
    Big corporations owns America…

  5. Kerstinon 07 Oct 2008 at 1:14 pm

    The blame game could go on forever. And at this point, not one single person or entity is innocent. As a rational person, much like you, I took it upon myself to keep my finances under control. It hasn’t always worked, but in the end, I have no one to blame but myself.

    This isn’t going away any time soon. I would love if we could just go ahead and hit bottom already so we can work on climbing back up out of the gutter….

  6. Do-Follow Blogson 08 Oct 2008 at 2:03 am

    Debt is a nasty thing that you should never get yourself into.

    I don’t understand why people buy things that they can’t afford in the first place! If you really want something, then just save up and then buy it.

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