I haven't posted a commentary in quite some time. Finally I feel I've got something to say!! It's been a difficult 12 months, but help appears to be on the horizon. I will be truthful, I was not one for bailouts....any of them!!! In my heart, I still feel that we as homeowners have got to take responsibility.(i don't mean those of us who have always acted responsibly, pay our bills on time, live within our means etc.) There's a reason why everyone isn't able to own a home. It takes sacrifice, perserverance, determination and timing to make real estate ownership a reality. Now don't get me wrong, there are definitely individuals who were taken advantage of. But folks, if it sounds to good to be true, guess what......IT IS!!!!
As a mortgage broker, our industry is taking the brunt of this catastrophe. And although there were a few who acted criminally, the banks, wall street and now out of business mortgage bankers are really the true culprits. I say all this to say that I have resided to the fact that it appears there is no other way out for us except to bail out those who are upside down and those whose mortgage payments have skyrocketed. I don't believe in rewarding irresponsible behavior but I've finally come to except it's no other way. Let's just get it on and over with and begin to heal our country.
This is a painful lesson for all of us. We are back to the days of working to save for a down payment, having and maintaining good credit and demonstrating a stable work history. (this one could be the toughest)..... There are good reasons why everyone can't/doesn't own real estate.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment