So, here we are another day, gone by and of course the market is nearing 11,000, so sunny days are here again, house prices are once again soaring, we all have 100K or more in equity in our house, no debt and well very low interest rates…what more can we ask for…Yah I mean we now have a great new health Reform that is here to help everyone…you…me…your neighbor…I mean come one…what more can be said…we are out of this runt…right.Well, not sure where the news is getting their information, because my house is still under $85,000 and I just got my hours cut at work 6.25%, and the last raise I got was in 2008…so I am not sure where all this news about we are recovering is coming from…I mean the Banks won’t help anymore because, guess what…we are in recovery…so why would I or you need any help. We should all be happily employed, and happily making our low interest rate mortgage…right…well…once again…I don’t know where these guys are getting their numbers or news…because sooner or later, probably sooner I will be one of those many statistics of foreclosure…because as soon as they raise the those rates and you know that will happen since we are on the road to recovery and well we need to start making those bonds more interesting for our foreign friends…so let’s start raising those interest rate…and BAM…a myriad of new foreclosures…that’s what I see…hey…that’s what I believe is going to happen…of course I hope I am wrong.
But any how, you see, read and hear that the market is up, the economy is moving forward, companies are not laying of as much as they use to…but what is the truth…come on…I can barely afford to buy groceries, I mean…ok…I may not be at the worst position, but I grew up poor…there came a time in my young life…where I had to dumpster dive…oh yah…cold nights…no food…I have seeing oh many things…but one thing I have learned is to keep on fighting, but you know…as you start to get older…your body doesn’t handle those type of things as well as before…so I am getting tired and all this talk about Health reform, loan modifications…come one Loan modification…have you heard the statistics on that…only 3% of the outstanding loans have been modified…there are millions of people like you and me out there trying to get some help and all we do is fill out paperwork, and try to justify why I can’t make my payments, then you banks telling you what you need to do in your life…ok…no piano for your kids, cut back on the second cell phone, maybe you should not have cable television…or wait…shoes…you should maybe cut back on that spending as well…then well then you can pay the banks nearly all the same mortgage payment you were paying before…all they did was debt consolidate for you…using your money…there is no help in that. That’s why they want to know exactly where your money is going…if you send an extra 20 or 50 dollars to your credit card…stop, reroute that to your mortgage payment…you see they move things around for you…to buy time…and hope when your house has equity they can refinance into another loan and of course charge you all those closing costs…wait roll that into the new loan…yah…buying time is what I think that Banks are doing.
Anyhow, Many of us maybe did not see the great depression…and could not make comparison only read about it, but you know…I times are hard right now and we need to let our government officials know this…see this…before making foolish decision, that affect our lives.
In recovery…I don’t think so, just wait for it…you’ll see…next Commercial industry will fall…small business closing…yah…
My perspective:
Banks need to simply lock everyone to a 2% interest rate, eliminate all seconds…any new mortgages well that should be determined as it always has been, sorry to say…but buyers today are getting bargains…more house for their buck…so fair is fair…if I was new coming into the market…I would certainly be ok with paying the fair interest rate that I deserve according to my credit rating…simple…but for those that had perfect credit and build a life, and now do to no fault of their own their house is less than what they owe…yah…we should get a locked rate of 2% and have our seconds eliminated.
Thanks again for reading…Latina Man signing off…till next time.
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