With all the talk of buying up bad loans and bankruptcy courts lowering the principal owed on mortgages, I keep asking myself, “why am I still paying my mortgage?”Even the Republican’s own, John McCain, has jumped onto this socialist idea:
"I would order the secretary of the Treasury to immediately buy up the bad home-loan mortgages in America and renegotiate at the new value of those homes — at the diminished values of those homes — and let people be able to make those payments and stay in their homes," he said.
McCain is calling this the “American Homeownership Resurgence Plan.”
AAugh!!!!!Each month my mortgage company reaches into my checking account and withdraws $2200 for my 1250 ft condo on the Westside. Why do I continue to do this? If property values are down, maybe I can get my loan realigned and pay less. Why should my lazy, no-good, bums of neighbors who paid too much money for a house in our neighborhood (up to $1 million) be the lucky ones?
Oh, that’s right. I’m a responsible, law-abiding, bill-paying, tax-paying, voter. I don’t count.
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