A Hard Look at Mortgages
Tuesday, September 18, 2007
Gov. Christine Gregoire is itching to bail out home buyers who are finding themselves a little over their heads when it comes to their home mortgages. Of course if the state steps in to give financial aid to home buyers, they'll be using public funds. So, in light of that, lets take a look at our state constitution to see what it says about safety-netting Washington State homebuyers... Yep, just what I thought: not a damned word about it. In other words, they have no authority to go there. None, zip, zilch, nada. Unconstitutional!
Yeah, it's too bad that people will lose their homes. I really do feel bad for them, but I also know what the definition of 'responsible' is. Reading the fine print and looking at the life of the loan and making sure you'll have the money to pay for it--especially if it's an adjustable rate mortgage--is part of being a responsible homebuyer. It is NOT the responsibility of your neighbors and fellow citizens to bail your butt out if you're too stupid to understand a contract. Life sucks, then you die. Deal with it! Don't ask me to cover your bills.
posted by Don Bangert | 8:08 AM
2 Comments:
It's hard to know who, among our troika of Gregoire, Murray and Cantwell, is the bigger idiot on economics. Probably Murray, as she is simply stupid. Gregoire knows what she is doing and masks it as "compassion". She is simply without scruples.
You can get on those people who took out the mortgages, but in fairness none of those mortgages are valid contracts. Not everything is disclosed in the fine print.
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