I have been beating up on lenders in this blog. So today, I am going to make some comments about the borrowers of these bad loans.
Most of you were not deceived. You knew your rate was high, you knew the rate would go up, you knew you had a prepayment penalty, and you did not care. Why, because you wanted the home. You wanted it so bad, that you were willing to accept the bad terms. Because for many of you that was the only way you would qualify for the loan. You didn't even invest any of your own money into the home. And now you want to blame everyone else and act like you didn't know what was going on.
Here is what you expected:
The home to go way up in value.
To make a killing off your home.
You were wrong.
The market quit going up at unrealistic levels, and now you want everyone else to feel sorry for you, and bail you out. I say, admit what you have done and suck it up. Yes, you made some bad decisions, work through them, and move on with your life. This is just a short moment in your life, learn from it.
I believe some of you were deceived. I believe some of you were taken advantage of and I believe most of you are just looking to blame someone else. Because that is what we do here in America.
I will repeat myself. Admit your mistake, work through it, get over it, and move on. You are better then you are acting and if you don't change you could take our whole economy down with you.
For you lenders out there that help cause our current housing and economic problems. I say: Admit your mistake, work through it, get over it, and move on. You are better then you are acting and if you don't change you could take our whole economy down with you.
How about our government they also had a hand in this. I say: Admit your mistake, work through it, get over it, and move on. You are better then you are acting and if you don't change you could take our whole economy down with you.
I pray, God will save us from ourselves.
Have a great day!!!
Wednesday, August 13, 2008
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