Oh, boy.... The Congress is working on bailing out the homeowner and I heard someone complaining about the plan. The guy said he didn't see the point of the government's buying out all those "defective mortgages." I had the same thought but then I thought about it a lot more deeply. I decided it made a lot of sense to get on board with my "defective" mortgage. I'm not behind in my payments, mind you, but we have struggled for many years to achieve the dream of home ownership. And now I find out we didn't have to struggle at all!
We haven't had any help until the Democrats came to the rescue with that Rescue Bill. I know the Democrats will keep trying to help me out though, and I'm sure they'll tack something onto it that will allow me to renege on my defective mortgage. Once the bill is passed, I'll stop paying. Then I'll go to the bank and tell them exactly how much I can afford to pay. Emboldened by the Chris Dodd/Barney Frank Bailout Bill, I might even tell the bank how much my house is really worth. I think that's called something like "mark-to-market." I'd like to "mark to market" by about 50 percent--I could afford that amount comfortably. Screw the bank, you know? What has the bank done for me lately?
Of course, I might then change my political party affiliation from Republican to Democrat. Who knows, perhaps I'll get some kind of political post, something like...say....Chairman of the Board at Fanny Mae. Don't laugh. Jamie Gorelick got the job without any experience in finance. And Obama advisor Frank Raines knew only enough about it to collect $200 million bucks from his adventure with the quasi-governmental private housing agency. What more is there to know? Ya' wanna' make the big bucks? Have an affordable mortgage? Vote Obama 2008.
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