Monday, January 28, 2008

Boo hoo

Here we go again. The MSM is in create victims mode once again regarding the "subprime crisis".

The latest:

Sarah Evans, 60, opens the door with a mixture of curiosity and alarm. She says she is one of the last people left on the street. And she is on the verge of losing this two-bedroom house in which she has lived for more than 30 years because she simply cannot afford her monthly payments.
It is a complicated story. She refinanced in 2003, but did not realize the document she signed included provisions to radically increase the interest rate. She stopped making payments in 2006 and shows her unpaid bills totaling 24,000 dollars.

Are you kidding me? A woman has owned the house for more than 30 years and yet she is defaulting on her mortgage? She refinanced in 2003 when she had owned her home for 25 years. Which means it was almost paid off. Ahh but that wasn't good enough. No, she had to refinance. Take out some equity. Buy the H2. Buy the 90" plasma. Go on a Fiji vacation. And boo hoo, she didn't read the fine print where it said her rate would re-adjust. I guess she thought ARM stood for Amazing Rate Mortgage not Adjustable Rate Mortgage.

And now here comes the MSM creating a victim out of her. She is not a victim. She is a moron. And imbecile. A fool. A cretin. A greedy woman who deserves to be thrown into the snowy Cleveland streets. I am so sick and tired of these people being made to look like innocent victims. She knew exactly what she was doing. She bought the NAR propaganda of housing never falls. She wanted to make a quick buck and signed her life away in order to do so.

But fear not. Jorge W and the rest of our esteemed leaders will make sure she gets to hold on to her house. So what if she was a completely irresponsible, greedy dolt? Uncle Sam will be there to bail your ass out.


Malcolm said...

Not to mention, she refinanced at 56 years old?

Reminds me of the company that gave the 30 year mortgage to the 100 year old woman

Ed said...

Haven't you heard...56 is the new 26. Or so all those Fidelity commercials tell me.