Home » Why Doesn't It Apply To Them, really?

Yes out of 8200 a day visiting this site les then 5 care or interested in topics such as this, wow, doesn't that say something about our nation? Yes a legitimate question to ask yet one ignored. That is the name calling? Let me bring you up to date. Average Americans all across this land have been labeled, yes even Mr. Obama, you, banks and lenders, credit card companies and just plain other ordinary citizens have labeled people and these are the words right off of their lips,

Irresponsible

Non Credit Worthy

Dead Beats

Loser

Low Life

Now do you need any others to get the drift? Why are they called such? Is it because they fell on tought times, a time never before seen since the great depression. So why doesn't those descriptive words not apply to the lenders, the bankers, the politicians and yes the businesses that created this fiasco? What do I mean? Yes they created it and in my opinion by design. If not then how totally pathetic can they be? Now less we forget that these are the "educated" and "experienced" people, really? Yes most graduating form the most prestigious schools n America and the world. yes and they didn't know what was happeninhg? They didn't see it? The laws theyw rote not intended to do exactly what they do? And YOU, yes YOU who support them don;t see that for truth? So just why doesn't it apply to them?

Ok, I know you need help with thinking this through so let me see if I can help with that? Let me ask you this, who evaluates a home for a mortgage to purchase? They supposedly collect your paperwork [or not] as they required from you mind you if you qualify [something not many can do any longer] they approve a person for a set amount. Now keep in mind becuase this is important, they took a risk and went ahead and lent you money on the assumption the home, that item they lent on would appreciate in value over time and they would make "considerable" money called interest, on that investmnet risk. They took what used to be called in the business world an "assigned risk", or " meaning that was an acceptable part of doing business assumed by the lender. It was in gambling terms a roll of the dice and like Vegas the bookies rarely lose. That is under normal thinking they rarely lose.

In a great majority of the cases they, the bank or lender, even turned around and offered you more then you wanted in the form of a home equity line or even unsecured debt they call a credit card. So using simple math, let's assume your mortgage was $150,000 and you had a $50,000 equity line. That gave you a balance owed of $200,000 on the item in question. Now we all know what happened..

1- Usury was made even more legal and bankruptcy laws were strengthened to favor the lender by the majority of this same bunch that is in office now. That included allowing the IRS to enter the debt collection business. This was a major step in the destruction of people since the IRS can attach anything! That took place in 2005. How odd, yes in my opinion how odd.Rhetorically, was it in preparation for what was to come? How can I ask that? Well if you don't know that is of itself the answer.

2- Siultaneously many people all of a sudden found themselves over extended on credit. The model of spend is good came home to stay. Then, by chance, really, HELLO,  the rates and monthly payments started to climb and climb they did rapidly. The net result people fell further behind and hence became non credit worthy overnight.

3- Now all during this time the dismantling of America was taking place. We don't have to go into to but basically all critical industries and jobs went offshore or offshore help was hired in place of America labor. Hence, unemployment rose and is still climbing. They just only report what is now and they care to report. Worse then that, if there can be anything worse then that, credit is gone for millions.

4- Now that credit was impacted by the above. People couldn't and can't buy or rent and today that is a staggering number of people. Don;t believe all the "help is on the way," even a 720 beacon score not good enough. Throw in no job, no pay, no pay, can't pay, can't pay, can't buy, can't buy, bye, bye and you have the picture. Recovery yes, for a limited few here in America and off shore investors. That is why you hear about the market and home sales going up. Always ask for who and what home sales - short sales - just what? That's right, nevr a qualifier. Yes like low grade fuel statistics on production, never to be found.

So next we see the significant number of Americans out on the street and growing. It matters not young or old, single or family, sick or handicapped  get out, period." Yet, the people who lend are never labeled, fact,  even though they are in my opinion of the very same stock, breed, ilk as the very worse they emulate. Why is that? Why are they sacred, the honorable, the good and decent? They are the people who foreclose even while saying there is help or we have money to lend, or let us help you. Yes out the door, asap. By the way, have you tried Project Hope or Hud or the new Obama plans for "working people?"  REALLY, HELLO, ARE YOU FOR REAL?

 

Oh, sorry, he forgot to tell us his definition of middle income was $95,000 a year and up.  However, he does feel ympathy for those making $280,000 a year and struggling. Yes and like I stated, they are the ones who throw families onto the street and let the empty house rot. bu they are never labeled as who they really are. 

Perhaps it is because they sit next to us at church, or profess or maybe they are evn our neighbors and friends? Yet get into a finacial bind and see how fast you are labeled, cast adrift by the very same. The bankers, the lawyers, the realtors, those who profess they are there to help but don;t, can't, etc. Yes they expect tax payers to clean and maintain that home they foreclosed on with tax dollars and voluntary service while they can turn around and "short sell" to someone else or just abandon it because we will  do just that while they glean all they could off the books and like I said leave it to someone else. Why is it we dare not ask them to pay taxes, clean up that house, secure it, no how dare we? Rhetorically is it because they are just like us and to do that would convict ourselves?

No these types don't "short sell" to the current mortgage holder even though they might be able to afford that home at the new adjusted price and stay in it. No, why help them, no money there. Instead get them out there is too much to gain and get one in that has. Yes all a charade to make money. Yes and when the former owner tried to get help they told them you have to be in default and then when they were in default they told them tough shi _ you're now not credit worthy and we can't help any longer. Rhetorically who is the low life, dead beat, irresponsible, greedy?

One could go on but why bother? So why doesn't it apply to them is because they are like those I outlined herein only they will never admit it, see it, or recognize it. Delusion the word and it fits so applicably. Yes how sad, so very sad that this nation has become what it is today. Yes and forget the bands, the flags, the patches, the fireworks and all the dressings, it has long since stopped being the America of even 20 years ago. Don't think so, well what can one say to you? NOTHING!

Robert T. Melaccio Sr. copyright 2009 all rights reserved worldwide.