Fix it, work it, fix it again...

Foreclosures are still way up there nationally and now the government is trying to rework loans along with encouraging financial institutions to reduce payments for people whose homes are worth less than what they initially owed, upside down, and paid for them, with throwing an additional 14B (billion) at them (the banks et all.) to do the right thing! I say… if only!

We all know how we got into this mess… greed from the banks and the people who refinanced at ridiculous amounts, when their homes were way over valued and now are literally just shells of their former selves, at pennies on the dollar.
Neighborhoods have turned into ghost towns all over the country.

At the time most took that extra money and bought themselves a piece of the pie, that is the lifestyle pie with either fixing their homes up or buying fancy cars, vacations or who knows what, but many were just trying to get lower payments when those interest rates had gone down, not those ARM’s rates of course since most adjustable rate mortgages that give you a low starting rate but then go sky high over the next few years with caps of almost twice what your initial payments were due to the interest going there too!

But we did the fixed rate 30 year reduction one at 5.12%, so we are still good, which we did do in 2003. And so far our home is still worth nearly twice what we paid for it; at least that is what zillow.com and our insurance company thinks, since they charged us higher premiums for more coverage for our homes value.

Most people were innocent to what they were getting themselves into in this foreclosure mess or lost their job through the bad economy and at no fault of their own, and I truly feel that we should take care of those brethren, but the greedy flippers, nah!
Those are the ones who bought a bunch of home on the cheap and thought they could get top rental price for those little muffins or sell quickly at a big profit, well surprise… no one could pay those premium prices and so they defaulted on their mortgages, which trickles down to the populous, and that means us of course!

“What a mess!” I think of Betty Davis, the actress, saying that line with one hand on her hip and the other in the air waving, but she was not referring to this mess… or was she?
She was a woman who went through, ‘the depression’; perhaps in those films those lines had subliminal or futuristic meanings; Hollywood in its hay day!

FDR did do a great job then, not unlike Obama in trying to do now, by taking the bull of misery by the horns and reacting in a positive way to ‘Change Things’. Tightening up our belts, learning again how to handle money, paying for what we need, not using credit unless you know you can pay all of it off at the end of the month! It’s simplicity at its finest; in other words using ‘common sense.’

We as a nation have to go back to basics, perhaps study the way our parents or grandparents lived and managed their monies, since they were the ones that knew how to save for a rainy day. Do we all really need immediate gratification? What happened to saving up for that special big ticket item?
Listen, America I do believe that we can all do it and we really have to learn to live on less and manage on that. As hopefully more jobs become available for the unemployed masses businesses won’t be able to pay those higher salaries and so we must learn to do as much as we can with less of that green stuff, called moola, money, cash or what-have- you we are an educable nation! And now we have the ability and absolute need to reeducate us all!

I have stepped away from my soapbox folks, and so good night to all and count those blessings and we will too!