20 Percent of Americans are delinquent on their mortgages.
Date: Friday August 21, 2009Posted in: Uncategorized
I just heard on the Radio today that a new report shows 17 percent of Americans, are delinquent on their mortgages and I know this to be accurate. I actually think it is higher in South Florida. I know of at least 1 out of 5 of my acquaintances are not paying their mortgages and yet they all think that they are doing the right thing.
They all have some lawyers who are basically telling them to do this, in order to pressure their banks into giving them a better deal on their loan modifications or to help them to do a short sale. This behavior is shameful and inexcusable. I really consider them as jerks and as you notice I refer to them as acquaintances rather than friends. These people are really fresh.
I told some of them that even if they have a very high mortgage, well then they should try to pay at least half, or make at least one payment every two months. But instead these people are living the good life. They have plenty of money for food, beer and the finest liquors. They are wearing the latest name brand clothing and they go to fine restaurants almost on a daily basis.
Some of these people are not even paying their homeowners association fees, which has led to a recent increase in my fees. This means that I have to pay for their good life.
I still pay my mortgage and other housing related expenses of over $2000 per month, even with a temporary pay cut, I still keep paying. This sometimes means that my family barely has money to buy food, other than the bare necessities, we live each month pay check to paycheck, but we still pay our mortgage on time every month. We believe that sacrifice shows integrity and that is something that these other people lack.
Now the worst part is that some new laws, recently passed by congress are actually helping these people. They are living off of my future tax dollars and a hyper inflation that is bound to come rolling out in the near future. Actually it is already beginning as food and gas prices are slowing creeping up.
I am not an evil person, but I really hope that somehow the banks take away some of these homes, rather than giving these people a modified loan. At least one of them needs to learn a lesson and then pass it on to the rest of their circle of friends and family.
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