I’ve been listening to a lot of progressive radio recently. I have been an on and off listener of progressive talk since its local inception, but I have never heard the number of right wingers calling the progressive shows in the numbers they have been calling in recent months.
I don’t have a problem with them calling, in fact it can be pretty entertaining, especially on The Stephanie Miller Show, but some of the things they are calling about are so dumb. Helicopters, socialism, homosexual influence, and some even still talk of Obama’s birth place.
But what I am most sick of, are whiney ditto heads calling up and complaining about somebody who signed a bad mortgage getting some kind of help from the government, while those who were “responsible” don’t get anything. I just had that conversation with my 11 year-old over piano lessons. Arguments like that are at an 11 year-old mentality level, not for common-sense grown adults. And if you are reading this and you really don’t know why a program like what Obama is proposing will help you, let me tell you a true story.
I applied for a loan yesterday. We were looking at moving a few years ago, and it was thought then that our little house would sell for $239,000. I know the value of my house has dropped. My guess was that it was worth around $200,000, that is what the banker thought too, and our tax statement lists it in that range, but I was shocked when the credit union pulled the value at $178,000. There are several houses in my neighborhood that have been foreclosed on. There are several that have sold very low preventing foreclosure or even after foreclosure. Maintaining the value of your house is what you get out of Obama’s plan you whiney lemmings.
Now one other thing in defense of those that signed bad mortgages. When my wife and I bought our house in 1996, we were completely dependent on the advice of the agent and lender. We were 25, and had never done anything like it before. We barely bought our house for $99,000, that amount stretched our approval limit into a variable rate, and our salaries were about half of what the house was purchased at, that is a pretty decent ratio today.
Now fast forward 10 years. Our salaries have not increased very much because my wife stays home with children. We basically have one income, barely more than it was in 1996, and when we went through the process to get pre-approved for a home loan, we somehow qualify for a $289,000 loan. How is that possible? If you take into account inflation, we are probably making less than when we bought our house in 1996. How do we qualify for nearly triple the home cost?
If we were 25 again, in that same situation, I’m thinking we would probably trust our agent and our lender. We weren’t 25, so we didn’t, but my assumption is that many did.
Whose fault is it? Is it the buyer? I think lenders looking for quick money through mortgages that could be dumped into securities with no loss are the people responsible. They are responsible for the downturn in the economy, they are accomplices in the Bush recession, they are the reason for the banking collapse, and everything they have done in a greedy manor stinks, just like the people trying to blame the innocent.