Helping Your Neighbor Own a Home They Can't Afford

[Lostinoz]

http://www.examiner.com/x-1606-DC-Real-Estate-Examiner~y2009m2d19-Helping-your-neighbor-own-a-home-they-cant-afford

Helping your neighbor own a home they can't afford!
February 19, 6:52 PM
by Brian Blackburn, DC Real Estate Examiner

When you think of helping your neighbor did you ever think that would mean putting your children in debt so that he could refinance for making a bad investment on a home? Well it does now. For decades people have borrowed sugar, or a cup of flour but now they are by government mandate asking you to keep them in a home they couldn't and shouldn't have afforded in the first place.

The term "caveat emptor" or "buyer beware" has shifter to "taxypayer beware". The once held notion that you shouldn't buy something unless you do due diligence has gone out the window. Now we are all told we as American citizens need to help those who invested wrongly in their homes so they don't lose it to foreclosure. So let me get this straight, they keep the gains when the cyclical price gains are realized, and we get nothing for allowing them to keep their home except generations of debt.

Government spending more money didn't help Japan get out of the stock market crash in the 1990's and spending didn't help the Great Depression. When do we learn from past mistakes? When do we see there are no quick fixes for problems caused over a number of years or throwing good money after bad?

This is especially true considering they have sold this with sympathy for those who lost their jobs. Yet those who lost their jobs still won't qualify for refinancing at the local bank because they have no means to repay the loan. Hope the next spending bill is done in time so that our members of congress can read it before pushing it through.

[Visinedrops]

Growing up, I never really paid much attention to politics, but I do remember hearing something along the lines of Democrats don't want to spend money, and Republicans do. How is it that now, with the stimulus bill enacted, that Democrats are spending billions of dollars, and republicans are against spending?

I even talked with my father about it, and he agreed. He informed me that the democrats would save federal money, and maintain a relative balance in the budget, and the republicans would be out there throwing money at everything.

Obama was for change in the beginning, and he's a democrat...yep...we got change all right.

[Lostinoz]

Growing up, I never really paid much attention to politics, but I do remember hearing something along the lines of Democrats don't want to spend money, and Republicans do. How is it that now, with the stimulus bill enacted, that Democrats are spending billions of dollars, and republicans are against spending?

I even talked with my father about it, and he agreed. He informed me that the democrats would save federal money, and maintain a relative balance in the budget, and the republicans would be out there throwing money at everything.

Obama was for change in the beginning, and he's a democrat...yep...we got change all right.

A politician is a politician. I have no faith in any of them. :mad:

I actually heard growing up that Republicans were for spending taxpayer money on ridiculous projects and Democrats spent money on creating entitlement crowds. I don't believe either is any better than the other as it is not THEIR money they are spending. :(