I am no longer a home owner, but I have to admit that the current talk about bailing out irresponsible home buyers has pissed me off. What incentive does anyone have to pay their mortgage on time if the government is going to just swoop in and fix your screw up?I am glad I am not the only one who feels this way.
Should we all just stop paying the mortgage?
I am amazed at all of the newspaper articles and cable news stories that I see where people are whining that they can't afford their houses, but don't think it is fair to lose them. There is even a woman in New York city who is suing her mortgage company and her real estate agent for "allowing" her to buy her house. I can't find the article now but I seem to remember that her household income was under $50k and she bought a house for $600k. I know I am not a mathematician, but even I can see the problem here. Her real estate agent was interviewed and he said something like "Hey, I just showed her the type of house she said she wanted. It isn't my responsibility to make sure she can afford it. That is between her and the mortgage company." She didn't see it that way. The way the homeowner saw it, it was the job of the real estate agent to make sure she could afford the house she wanted to purchase.
Who needs personal responsibility when you can sue?
Picture from flickr
No comments:
Post a Comment