tag:blogger.com,1999:blog-10348701.post8091514595011307736..comments2024-03-13T21:26:03.011-07:00Comments on Right on the Left Coast: Views From a Conservative Teacher: Short Attention SpansDarrenhttp://www.blogger.com/profile/15730642770935985796noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-10348701.post-15869375184897367062008-07-17T14:16:00.000-07:002008-07-17T14:16:00.000-07:00They're right--I didn't expect to hear that song u...They're right--I didn't expect to hear that song unplugged!Darrenhttps://www.blogger.com/profile/15730642770935985796noreply@blogger.comtag:blogger.com,1999:blog-10348701.post-12597618523046301282008-07-17T13:24:00.000-07:002008-07-17T13:24:00.000-07:00Here you go:http://youtube.com/watch?v=e_zU6R7IMns...Here you go:<BR/><BR/>http://youtube.com/watch?v=e_zU6R7IMnsrightwingprofhttps://www.blogger.com/profile/12419372059353408855noreply@blogger.comtag:blogger.com,1999:blog-10348701.post-44182677356460817032008-07-16T10:26:00.000-07:002008-07-16T10:26:00.000-07:00Because they have done such a good job. It makes m...Because they have done such a good job. It makes me So Very Excited with what they will do with healthcare. *rolls eyes*Ellen Khttps://www.blogger.com/profile/02845981491726296767noreply@blogger.comtag:blogger.com,1999:blog-10348701.post-45997215707272633472008-07-16T07:50:00.000-07:002008-07-16T07:50:00.000-07:00Clearly the solution is more government involvemen...Clearly the solution is <I>more</I> government involvement.Darrenhttps://www.blogger.com/profile/15730642770935985796noreply@blogger.comtag:blogger.com,1999:blog-10348701.post-38627850920859517542008-07-16T07:22:00.000-07:002008-07-16T07:22:00.000-07:00And what precipitated these events? Congress manda...And what precipitated these events? Congress mandated that more home loans needed to be made to clients with less than stellar credit histories. I don't know about Cali, but in Texas there were infomercials running 24/7 regarding getting home loans without income documentation, without even the most basic information. When we bought our home many years ago, in the stack of papers was a clear delineation of what our share would be every month. We chose a fixed rate because we favor consistency. Many of the subprime loans featured low low low payments for the first five years and then ballooned in the following five. This is spelled out in the loan agreement. I think greed plays a big role in this. I know people who bought a very expensive home in an area known as Castle Hills with just such a loan. At the time, people across the nation were buying low and flipping property. Well they got complacent and now instead of the original $1500 payment, are looking at a $2750 payment. They gambled that the market would continue to rise and held on too long. While it's sad, it also has a great deal to do with trying to get something for nothing. When the network news featured a hairdresser and a handyman who were whining that they had to default on their $300K home, I had to wonder who would loan them that amount even if they were the best at their jobs in the whole of North Carolina. The loan probably should never have been made. But Congress pushed federal mandates to fund just this type of loan. If you think to the source of such funding, it's no surprise that FannieMae and others are failing-it was a stacked deck.Ellen Khttps://www.blogger.com/profile/02845981491726296767noreply@blogger.com