Question for President Obama - Please Respond
I have a question for President Obama. Here is the story!
Many years ago a boy and a girl fell in love. They decided to wait to buy a home in order to save up enough money to have a good down payment. They got married, had a family and made a few financial mistakes along the way. Working through these mistakes and rebuilding their credit seemed like the best thing to do even when the world was borrowing more money than ever around them.
They did NOT enter into a mortgage that they could not afford. They did NOT lie on the mortgage application in order to be approved for a home. They waited and waited patiently because they wanted to SAVE MORE MONEY!
Thanks to the United States Government buying up faulty mortgages, the world is crashing around this responsible couple and they are now left renting when they have the savings to buy. Why? Because no one wants to enter into a mortgage right now with anyone who does not have a 750 credit score. HA!
So, Mr. President, here is the question.
In a world where defaults are common, the government is failing, money is just not there and the mortgage systems is the worst in history, how does the government justify helping people who entered into mortgages KNOWING they were lying about their income when people who decided to wait and save before buying are now left with no chance at a mortgage?
Many years ago a boy and a girl fell in love. They decided to wait to buy a home in order to save up enough money to have a good down payment. They got married, had a family and made a few financial mistakes along the way. Working through these mistakes and rebuilding their credit seemed like the best thing to do even when the world was borrowing more money than ever around them.
They did NOT enter into a mortgage that they could not afford. They did NOT lie on the mortgage application in order to be approved for a home. They waited and waited patiently because they wanted to SAVE MORE MONEY!
Thanks to the United States Government buying up faulty mortgages, the world is crashing around this responsible couple and they are now left renting when they have the savings to buy. Why? Because no one wants to enter into a mortgage right now with anyone who does not have a 750 credit score. HA!
So, Mr. President, here is the question.
In a world where defaults are common, the government is failing, money is just not there and the mortgage systems is the worst in history, how does the government justify helping people who entered into mortgages KNOWING they were lying about their income when people who decided to wait and save before buying are now left with no chance at a mortgage?
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