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#1
02-23-2009, 05:24 AM
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Part of the problem was that the banks loaned them the money. The banks were under directive from the government to get these people into houses so they made loans that the banks knew were bad. How the h@ll can somebody working part time at Wal- Mart afford a mortgage? They loaned them the money anyway. This was a policy enacted while Mr. Clinton was in office and everytime the Republicans tried to change the legislation it was a no go. I am not a rocket scientist but even I can see that is going to hurt everybody if that policy continues. Here in Canada I had to wait until I had at least a 5% down payment and a good solid work history- oh and yes my payments had to fit the formula previously mentioned. Sounds to me like the problem lise squarely on the shoulders of the Democratic party. Just my $.02 worth.
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#2
02-23-2009, 06:49 AM
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I lost my job in October but my house is NOT in trouble. I will say this, my unemployment checks only cover the cost of my health insurance, and all the property tax payments came out of savings. We set our budget up back in 2002 when the company I worked for lost 60% of the work to CHINA. We paid everything off and set aside a years worth of living expence. How did we do it, we didn't spend money that we made selling some property, we used it to create this safety net. I expect to work till I am 70, with or without an employer, I am not scared, but I am eating the squirrels that show up at the bird feeder, and that Fancy Feast cat food is starting to look OK on TV.
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Born twice,die once!
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