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Archive for January, 2008

Tell the truth and shame the...

January 25th, 2008 at 09:49 am

It's been a while. Coming back and catching up on how other folks are living life has been comforting and pleasant. I recently read "Lost in Debts" blog and was touched by her honesty. Even through the veil of anonymity, I'm still reluctant to admit to the world my financial sins. As you can tell by my blog name, I recently bought a house. While we did put a small but signifant down payment on it, we did get ourselves into the now-dreaded and much to be chastised over ARM Loan. I'm not here to defend my actions or to even validate them. Only to state, even if it's just to myself that I don't regret our decision, that i've never been late on any payments, i've paid my taxes, car note and credit cards on time. Refinancing will happen when the time is right (hopefully very fucking soon). In other words, the future looks rosey.

What really bothers me is the perception that people like me are viewed as irresponsible no-accounts who got free rides from the government. I'm not sure what exactly was supposed to happen after Mr. Bush's speech about the busting housing market, but as great as his speech was for cash strapped homeowners, nothing is guaranteed and there is no "sign-up here for easy mortgage relief" line anywhere that I know of.

I took a huge gamble that I was going to be able to take care of business when the time came for my loan to reset. I know a lot of you are upset about the Feds dropping rates, but don't pass on the blame to individuals who gambled with their own lives, they certainly didn't get into buying homes with the hopes of relying on government intervention to help with their mortgages. They hoped for the best and made a go of it. Some could not hang on and paid the price, some (who did not expect, did not ask) got a break.

Stop sipping on the Haterade. It's bitter.