Monday, February 23, 2009

Should Americans Facing Foreclosure Torch Their Homes?

First, to clarify, I am not suggesting that you the reader go out and torch yor home, but I do feel on an intellectual level it is a question fairly asked.

Millions of Americans now find themselves (through no fault of their own) in upside down mortgages, making monthly payments on a home they have ZERO EQUITY IN. In fact, in many of these cases, the homeowners house would be worth more to them if it burned to the ground. Because of Wall Street, because of the greed on the part of our banks and the UBER rich, America faces a crisis, and the only ones benefitting from government's throwing of money are the very people THAT CAUSED THE PROBLEM. AIG wants more money, CITI bank wants preferred stock given to the Treasury to secure their $25 Billion bailout converted to worthless commonshares, basically getting the government TO WRITE OFF the $25 Billion dollars CITI Bank was given just months ago!

We are living in a crazy time where our government is proving daily that they could care less about those of us living on Main Street. 11 Million Americans (LEGAL CITIZENS) have lost their jobs in the last eighteen months while over seven million illegal aliens still have their jobs, but E Verify that would have INSTANTLY FIRED OVER THREE MILLION ILLEGAL ALIENS was left out of the Stimulus Bill! Obama tells us on Main Street to tighten our belts while flying Air Force One to Chicago to romance his wife at their favorite little place. Tell us Obama how spending $53,000 per hour flying to Chicago to get some Valentines Day poontang is tightening your belt? Couldn't you have saved half a million dollars signing the Stimulus Bill IN THE OVAL OFFICE? Also, with Americans LOSIGN EVERYTHING, with Americans in desparate times, why are our 401K's still tied up...WAVE THE TEN PERCENT PENALTY, LET US ACCESS OUR FUNDS!

Simply stated, Obama wants the PAIN TO TRICKLE UP...I find myself thinking maybe some pain should start at the top. Why give your house back the bank when you can torch least that way we shrink the inventory glut, help our neighbors by shrinking supply, eliminate the risks involved in having VACANT HOMES on the block..think of torching your about to be repossessed home as Economic Revitalization! Think about it as a refund on the failed BAILOUT of the banks. I mean how many homes would have to be torched to give back to us here on Main Street the Trillion Dollars in debt that was given to us? I am figuring 5 million torched homes at $200,000 a piece wipes the slate clean...which begs the question...wouldn't we have created a lot more STIMULUS simply paying off the mortgages, keeping families in their homes, instead of letting the Real Estate market crash and burn?

Maybe you see where I am going with this...PAY BACK IS A torching about to be repossessed homes, are you not doing to Wall Street and the Banking Industry what they have done to ALL OF US?

1 comment:

stop home foreclosure said...

Foreclosure is the major cause of our financial crisis. Government should really prioritize this issue.We should really keep ourselves updated.Thanks for sharing your thoughts.Good Day!