High Life In the Oc = Over!

The other night I watched a show called "House of Cards" (CNBC Special Report).  Good show... it gave me a better understanding of how the whole mortage debacle has destroyed our economy.  Funny, it originated here in Orange Cty., CA.  Funny, it's what brought us here in '04... the industry was ridin' high & my spouse was in the thick of it (no, not sales).   We bought a house (dumb) & we didn't do it with zero down, either.  Man, it was crazy at that time!  We had outstanding credit & a huge down payment, yet we lost houses to people who had zero down.   Nobody gave a damn about how qualified you were (as they used to), how much earnest money or how much down payment you had.  Greed trumped everything.  So now... well of COURSE there are a lot of foreclosures... values are down so much that those with nothing to lose are better off to walk away, and that's what they're doing.  A lot of these people knew damn well they were biting off more than they could chew; they, or sometimes their brokers, lied about their "stated income" (PUH-LEEEZE!) so they could buy opulent houses & pose as successful rich folk.

Meantime, here the hell we are, with a house that's worth about 25% less than we overpaid for it.  We didn't go off the deep end... didn't even come close to what we were qualified to buy.  We're frugal & financially conservative; it's just a modest little house.   We were responsible & didn't try to show off, though God knows we could have.  I hate all those idiots who screwed it up for all of us...

Before anyone starts flaming the crap out of me, please understand that I am aware there are many innocent people who are suffering terribly because of all this.  And my heart goes out for them!  They're in my prayers & I hope they can find a way to get thru this.  I know there are people who really & truly have tried to be responsible & have suffered nonetheless.

But... to everyone who is out there now crying because you  bought a house you couldn't afford in the first place, then refinanced so you could get more crap you couldn't afford?   Because God forbid you should drive a simple car like mine!  Noooooo.... you needed a Mercedes.  A modest house without a built-in pool?  No way was that good enuf for you, with your zero down!  All the brokers who could've cared less about the buyers actual ability to pay these mortgages in the long run, as long as they were getting their gargatuan commissions, and were more than happy to lie & cheat?  To all those people I say:  you are parasites.  Roaches.  Somebody get the Raid.

And it's just not f***in' fair.  What relief will we get, those of us who lchose to live within our means?  Those of us who thought about tomorrow, not just the moment, and had no desire to impress anyone with all our "high end" stuff????  We're the REAL losers here, perhaps, huh?  Is it true that nice guys finish last?

2Quirky 2Quirky
51-55, F
2 Responses Feb 18, 2009

I know, I'm bein' pissy. My inner child probably needs a spankin'. I try to be all positive & zen-like, but sometimes I fall off the happy-wagon & rant. I am blessed to even have a house... and enough money to help out my son who lost his job back in the midwest (just sent him a check). And if worst comes to worst, there's a little camping trailer I adore & it's all paid for....

To quote William Jefferson Clinton, I feel your pain. Seriously, I do. Like you, I was financially responsible and didn't "over-buy" when I bought my house. And I drive a 12-year-old car.<br />
I think you can choose to be bitter and say, "Hey, some people are getting bailed out - what about me?" But I view it differently. None of us wants an all-out depression and no one wants to have half a dozen foreclosed houses on their block either. So if we don't help people who are scuffling, things will get worse for them and ultimately all of us.