I just heard some of the details of Geitners housing plan.
It assists people who are "underwater or upside down " on their mortgages.
I got to thinking about my own situation on this aspect of the plan.
Instead of racking up high credit card bills, or buying expensive stuff, I have been faithfully, every month, been adding more principal, thus reducing my mortgage balance.
So people like me, who were responsible, sacrificing new sleds, and other "finer things in life", get hosed because my mortgage amount+natural equity in my home makes me "above water, and not upside down"
So living on the edge of bancruptcy by reckless behavior = Assistance
Being responsible, doing what is right = MY tax dollars going to "assist" irresponsible homeowners..
That just plain s.u.k.x!!!!!!!!!!!
It assists people who are "underwater or upside down " on their mortgages.
I got to thinking about my own situation on this aspect of the plan.
Instead of racking up high credit card bills, or buying expensive stuff, I have been faithfully, every month, been adding more principal, thus reducing my mortgage balance.
So people like me, who were responsible, sacrificing new sleds, and other "finer things in life", get hosed because my mortgage amount+natural equity in my home makes me "above water, and not upside down"
So living on the edge of bancruptcy by reckless behavior = Assistance
Being responsible, doing what is right = MY tax dollars going to "assist" irresponsible homeowners..
That just plain s.u.k.x!!!!!!!!!!!