Personal responsibility

I am currently unemployed, but have been able to retain my perspective. We all know, (or should know) how this all started. If you do not, just Google the “Community Reinvestment Act”, the brainchild of Jimmy Carter. That was where the breakdown started, but I’m not going to cover that here. Nor am I going to cover how Bill Clinton revised that Act in 1995 and greatly accelerated the decline of the banking industry. Once again, Google that too, I don’t expect you to just trust ANYTHING that you hear or read without proper verification. Remember that liberals hope you won’t verify what they say, it makes it easier to mislead you.

Back in 2000 I was going through a divorce and with little expendable cash, was in need of a forgiving condo loan, which I found in the form of an Acorn loan. The first thing I needed to do was meet with an Acorn representative that explained to me the concepts of, working, putting enough money in the bank to cover the mortgage, and how to write a check. While I felt this was a demeaning process myself, it’s obviously a necessary step for their targeted group, or they wouldn’t do it. Fast forward to 2005. Once again I’m looking for a new place to live by virtue of marriage, now I need a house cause the condo is too small. We found a 0% down fixed 30-year loan through USAA so that we could move at our leisure, and I could prep the condo for sale. Long story short, (too late I know), we now owe more than the house is worth, but are we going to get any help from Obama? No, why, because I still know how to write that check.

It’s called personal responsibility. If you took out an ARM, or bought a house that you could not afford, and you lost that house, TOO BAD. Even if the bank told you that you could afford the house of your dreams, you should have known that you COULD NOT. When will we stop rewarding bad behavior?