Congratulations to me for being one of the people in this society who actually believe in personal responsibility and self-reliance. Congratualtions to me for paying my mortgage on time, working hard to provide for myself, paying for my own health insurance when my company wasn’t offering it to me as a benefit, and all other manner of non-leech like behavior.
The reward for being responsible in this current economic and political climate: jack shit.
The reward for taking out a loan too big, not paying your bills, and expecting Uncle Sam to provide all one’s earthly needs: wonderful free government money ripped straight out of my pocket.
I have a mortgage that I can afford. The interest rate is high and right now rates are low. Thanks to the lovely neighbors who have defaulted on their mortgages, the value of my property is now less than what I owe and I can’t get a refi loan. If I were a slack ass and just stopped paying my mortgage – No Problem! Slack asses get special rules — we should feel sorry for slack asses. If I had a loan serviced by the wonderful Govt agencies Freddie or Fannie — No Problem! There is a government program for upside down mortgages serviced by Freddie/Fannie too.
Well, I’m not a slack ass and I don’t have a government owned mortgage. I’ve behaved myself and don’t expect or want government handouts. So guess what my reward is – Congratulations to me! I’m SOL! Gotta love a culture that rewards people who expect government handouts!
I understand lots of people have lost their jobs — I’m not talking about those people. I’m referring to genuine 100% slack asses. I’m just frustrated and a little pissed that the only people who have no ability to take part in the currently low finance rates are the ones who bothered making on-time payments!
*UPDATE: Since writing this I was able to refi my place. I was sitting home having a pitty party one day and it did occur to me that I should see if I could come up with a solution to this problem myself. There’s almost always a solution to problems if you look hard enough. I found a good mortgage company and managed to put togther the necessary $19,000 it took to pay down my loan to the point I could refi. Doing that saved me 5 interest points and close to $200,000 over the life of my loan! Look ma, I did it myself!