Foreclosures - What A Horrible Thing Foreclosures Have Done To Our Country
I don't often do this when I write my articles, but I think it is about time I have a little rant. Let me see if I can stir up the pot a bit. I am going to talk about Foreclosures and our President.
So, what has caused all these foreclosures? Is it that people just decided that their mortgage payment is not important? Is it that the banks have taken advantage of home buyers and talked them into loans that are very bad for them? How about the gas prices, have they caused the foreclosure rate to sky rocket?
Here is what I think has happened. Sure the mortgage companies and banks have done some shady things when it comes to home loans, but they are just doing what the government will allow them to do in order to make their money and make loans to private parties, like you and I. There was a time when it was not easy to get a home loan. You had to have a debt to income ratio well under 25% and you had to have a sizeable down payment. Of course, times have changed and companies will give you loans that they know you cannot afford because they know that most people will skip a car payment or credit card payment before they skip a mortgage payment.
There is more to the hike in the foreclosure rate, than just bad loans that were made because the government did not have stricter lending laws in place. The gas prices have been the major reason why people are struggling to make their mortgage payments. Gas is what drives our entire country and economy, oh and that guy we put in the White House, his entire families fourtune comes from the oil industry.
So let us think about this for a minute. If your normal budget included a mortgage payment of $800 a month, food of $200 a month, Gas of $100 a month, and other expenses that cost you $900 a month, then what happens when the gas prices double or in our case right now more than triple? Your $2,000 budget that was leaving you a little left to save and a little to spend on yourself now gets flipped upside down. Your gas goes up to $400 a month and the food increases to about $350 because gas caused food prices to soar. Not only did this take your savings away, but you probably don't have much left for yourself either.
Now it is pretty easy to see how gas prices have caused foreclosures. If you are trying to pay a mortgage and you just cannot do it you probably will get discouraged and just give up.
So what has President Bush done to help us all out? Some would say, well he gave us the stimulus checks, but that is all smoke and mirrors. Seriously, how far are you going to get on $300, $600, or $1,200? The $1,200 might make a mortgage payment, but once that is gone you will be right back in the same boat as before. The other amounts barely cover gas for some people in a month.
The President has done nothing and if he was really interested in spurring our economy he would find a way to drop the gas prices. Think about this for a minute...instead of a lump sum that is going to get spent on something we probably don't need or used to pay off bills, how about you get an extra $20 a week. Could that help you? I know it could help me.
That would be the effect of the gas prices being cut down by one third. If they were cut in half you could have an extra $30 or more in your pocket each week. That is groceries for some of us. Plus the price of food would go back down and you would be able to save more at the store as well.
Will this every happen? Not as long as George W. Bush is in office. It will never happen if John Mccain, another oil man, gets in either. The only way we will see a solution to our economic problem, gas prices, and foreclosures, is if we get a new face in office instead of these tired old republican ideals that have done nothing, but ruin our economy. If you want to see change actaully start to happen, then I suggest you vote for Barack Obama come November.
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