ive been thinking it for a while now. i havent really said much on it. but, seriously, why are we paying to bail people out of their loans. i feel for you if you got laid off, or your time or pay cut back, but if your just an idiot that signed up for a loan that you now cant afford, why should we as taxpayers bail your stupid ass out.
when you buy a home you should know what youre getting into. you should not buy at the top end of what you can afford. allow a margin of error. you dont know what might come up a month or a year down the line. and if you were stupid enough to sign an ARM and now your payments jump and you cant afford it, i have no sympathy for your dumb ass. you deserve to lose your home. if youre an investor or land lord who cant afford it, then just sell it already. oops, the housing bubble collapsed and youre losing an income property. at least you have your own home. to ask the government and thereby the taxpayers to cover your loss is ridiculous. man up and accept your misjudgment.
so im not all out liberal. im a fiscal conservative. and if youre an idiot who cant manage your money and assets, perhaps you desrve to take a hit, and maybe you and the rest of the world will learn from this and not be so eager to spend spend spend.
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