great example of someone that needs to be put out of our misery

We can only hope nobody shows her where the polls are.

This is a prime example of why stupidity should be painful.

People like her ARE the problem. Including the libs in congress who caused this and put the nation inthis position.

Unfortunately, she doesn’t know any better.  At the end of the 60’s the radicals went into education so they wouldn’t have to compete in the cruel world of free enterprise.

They have indoctrinated an entire generation of teachers and professors who populate government schools, safe behind tenure.

They have filled our children with anti-American nonsense about the evils of capitalism and free enterprise.  About how we are colonialists who destroyed the indigenous people.  Hollywood has gleefully joined in promoting the same.  (When was the last time you saw a wealthy person or businessman protrayed as anything but a fool or a charlatan?)

These people believe in the fallacy of “government money.”

What they need is a crash course in free enterprise.  Work in a straight commission job for a few years.  If they succeed, they will have a new appreciation for work ethic and the sorry asses they have to support.

My lesson came in a job that if you didn’t make goal one month, you got a verbal warning.  If you didn’t make goal in the second month, you got a written warning.  If you failed to make goal in the third month, you were terminated.  Period.  Recession, family problems, or any other excuse was irrelevant.

Being short of goal on the 27th of the second month had a way of focusing your efforts & either breaking you or making you a winner.

I’ve never worked for a poor person.  Rich people invest in businesses and create jobs.  Tax them more, and you get less jobs.  Raise their capital gains taxes to confiscatory levels, and they have the means and motive to move.  Exactly what do you think you will you get out them after they outsource themselves to another country?

You will create a Socialist crisis calling for even more “government” help until we are France.

I’m pretty depressed at the stupidity of people.  Every time I ride by a nice car with an Obambi sticker on it, I just look back to see what kind of stupid dipshit is driving.

Rant over.  I’ll go brew another cup & read the bird cage liner about how Obama will save the world & the sheeple trudging along behind him to their demise.

Stick - Fine rant. I couldn’t agree with you more.

Indeed, stick!

Even though several people pointed out that she was wrong, she insists it’s someone elses fault.  Guess she can’t handle the heat, she turned off the comments…

From one of the comments she allowed:

”This attitude of “you’ve made your bed, now lie in it” is ridiculously judgmental. ”

I still can’t breathe for laughing so hard.

Here’s how I feel about Mrs Valdez-Rodriguez’s situation.

[Rant on]

In 1987, in Australia, I bought a 3-bedroom condo for A$38,500. It wasn’t in the greatest neighborhood or in the greatest complex but it was acceptable. I made double payments and paid it off in 6 years.

In 1995 I moved to the US and sold that condo for A$80,000. I then bought half a duplex here and put down 2/3 in cash since I didn’t have a credit rating in this country. The mortgage broker at one point was giving me a hard time! I said “the mortgage co. should be so lucky that I default--they’ll get a house for 1/3 of its value!” at which point they said “good point!” and the sale went ahead.

I paid that mortgage off in 3 years again making double (or more) payments.

Some years ago I moved cities for employment (or rather lack-thereof) reasons. After a year I bought my current residence. I still own the half-duplex and rent it out. The rent pays my current mortgage plus some and I also put in (i.e. over double payments in all). This one should be paid off in 5 years although I could, if necessary, pay off the mortgage in full right now.

In short I’m working my way up.

I therefore have zero sympathy for anyone that buys a house they can barely afford and then whines about it when times are tough. If I’m doing better than you then too bad. You can kiss my ass!

[Rant off]

Ditto all of the above!

I have a friend that was transferred for work to Florida about a year and a half ago and bought a house for $240,000 and then got transferred back here a couple months ago.  The house won’t even sell for $150,000 so they are still paying the mortgage and will have to make up the $90,000 difference in price (less their $36,000 deposit) at the point of sale.  I disagree with the bailout, but there is at least one person who read the contracts, made a reasonable deposit, is making payments and still got stuck...although they look at their situation realistically as bad timing and not over-regulation, predatory lenders, etc.  My point is simply that there is some truth to the premise that more than irresponsible homeowners are taking a hit - they just used a poor example in the article.

Jim, I live in Florida I moved to this area about four years ago and was looking at purchasing.  I couldn’t believe how quickly the prices were rising.  I was going to buy a town home but was sure it was over valued.  There was a problem with the title and the deal fell through.  In that one month the prices of town homes in that same area went up about $20,000.  I told my real estate agent that there was no way the market could hold on to these prices.  She assured me they could and prices would keep going up.  I decided to rent, I am still renting, but looking again.  I am glad I waited, town homes in that area have dropped below what I paid mostly because developers went nuts building town homes and couldn’t sell them.  Homes are now below what I would have paid for that town home. 
I have a friend that purchased at that top of the market, he isn’t the brightest bulb but I am sure his home is worth half of what he paid for it now.
I waited, and hated waiting but am glad I did, I don’t want to get punished because I made the correct decisions about the price of homes.

I love her sense of economics. She believes that the bank gets to keep the down payment when it issues a mortgage.

What she lacks in sense, she more than makes up for in victimhood!

UU - The Missus and I were going to buy a small condo in North Florida for our yearly vacation. The prices were horribly inflated! That, combined with the real estate tax fiasco, convinced us to hold off. Good thing!

Watch this same idiot move into a bank repo now. Everyone got hurt by the housing bubble. Want a shock? Try to sell your house now. I notice the FHA commissars are STILL offering 97% loans for first time home buyers. These people will never learn. We need a new deal - throw the bums in Washington out.

What if she paid the full $600,000 in cash?  Now the house is still worth much less than she paid for it.  Would the idiot walk then?

I can’t imagine paying on a $450,000 mortgage, but she must have thought that big a nut was worthwhile.  In my eyes she is a thief caught with her greedy hand in the flip the house cookie jar.  I wish the bank could garnish her wages.

IMHO, in a stable economy, after factoring maintenance, insurance, interest and taxes, a house is a luxury, not an investment.  If you buy a house as an investment, then you’re in a volatile market and there is risk of loss.

Typically you buy a house for two reasons.

1) To live in. If that’s the case it doesn’t matter, except on paper, how much the house is worth at any given time. You’re living in it. So what if it drops in value?

If your employer transfers you around (e.g. military) then
a) don’t buy, rent
b) change employers
c) take the hit

If circumstances force you to move and your house is worth less then sorry but that’s life.

2) Investment. Some investments are good some bad. Sorry but sometimes you lose.

Bottom line is that owning a house is NOT a right.

AnnoyedOne-everything you can imagine is a right -a good-paying job health care,a college education,abortion,owning a house,pre-school,everything,that is,except gun ownership.Just ask the liberal morons who have been taking center stage the past few years.

I can understand that some people are taking a hit that did everything right. The only problem that this twit has in the inability to get over herself and realize that the world DOESN’T revolve around her ass.

For UU and Airdale, real good thing you held off. Wait til you see what you’ll be able to steal in another 6 months when all this crap continues to shake out.  The old buy low, will be low, low, Low! In both your favors.

JDredd...everyone knows yur ass revolves around Uranus!

The bailout bill is now available online.  I’m reading it here:

http://blog.heritage.org/2008/09/20/text-of-the-bailout-legislation/

2 minutes later, I’m already hating it:

(b) Necessary Actions.–The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation:

(3) designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as financial agents of the Government as may be required of them;

(1) The Secretary can hire whoever he wants?  So Jim Johnson and Franklin Raines can be put on the Federal payroll for this?

(2) Contracting for services?  Don’t quite have a feel for this one.  But --

(3) Designating financial institutions as financial agents of the government sucks OUT LOUD!!!  Imagine Washington Mutual as the federal overseer of Washington Mutual’s recovery…

What stick said.
----------------------------------
Not everyone took a hit.  I’m one of the few that still has positive value in my house.  We built it five years ago and it shot up from there.  The market value has come down on it, but it is still about 80K over what we paid for it.  But we also didn’t go into this looking to sell at some point.

Exactly Headmistress, but in this case I actually have the return address labels to prove it!

I found it to be funny. But my Defense Attorney brother-in-law who lives a few houses down and to the left from me on Uranus (St.) didn’t.

razOr,

I agree.  I bought my house way below market value because the seller needed to sell it quickly (relocation).

She borrowed money via the bank. It’s not the bank’s money.
That’s money was deposited by people who depend on the bank successfully investing their money in mortgages for income.
You know… real peoples’ money.