Don’t forget Caturday!
This “bailout” mess makes me angry. The government plan is to take money we worked hard to earn, and give it to people who squandered their own, or that of private investors.
Does that really sound fair….or right??
If we spent some money, and it turned out to be a bad decision, we’d just have to live with our decision. There is nobody to come along and give us more money. And when someone steps in to provide money to people, they tend to squander it again, because they don’t really care what happens to the funds of other people. The squanderers did not have to work hard to earn that money.
They made bets, and they lost, just like soooo many people in casinos.
Our neighbors just had their house foreclosed on. “OH, NO ,” you say? I do not feel sorry for them. The father in that family has a sorry work ethic. He’s a good worker when he works. The problem is, he actually said, “I don’t want to work full-time.” Well…bless his little heart. Steve would love to work only when he wants to, also. The problem is…it doesn’t pay the bills.
2 Thess 3:10…..10 Even while we were with you, we gave you this rule: “Whoever does not work should not eat.” NLT
Oh, I feel sorry for the two youngest children (of six kids), who still lived there. That’s the only home they ever had. They were born while their parents lived in that house. They did not cause the problems. The father was pulling equity out of their house to live on, so he would not have to work full-time. And he told me how unfair it is to lose their home.
Another type of foreclosure is one where the mortgage was an adjustable rate. Another neighbor had that problem. See, they financed the house at a low rate to begin with, to be able to get into a house, but they could not pay the monthly payment once the interest rate began to go up. I heard stories about how that was so unfair. I heard them from the other neighbor whose foreclosure just happened.
People need to realize something: THOSE LOW RATES AT THE BEGINNING OF AN ADJUSTABLE RATE MORTGAGE ARE TEASER RATES! They will not stay that way. They will skyrocket because your credit is bad! And if your credit is bad, you should not have gotten a loan in the first place!
We are being told there will be a credit crunch. Nobody will be able to get credit. I just don’t believe that’s true. I think those who have the means to repay a loan will still be able to get one. There might be a little more down payment required on a home, but that’s ok.
However, if there IS a credit crunch, maybe there needs to be. Banks have been offering unbelievably easy credit to those unworthy of credit for years. We’ve probably all heard stories about someone’s dog getting a credit card.
We have not always made the most sound financial decisions. I’m sure everybody has had a time when they learned the hard way. And others should be allowed to learn in the same manner. We have to be careful not to get caught up in the emotion of someone losing their house. Our former next door neighbor, who lost their house because they could not pay the adjustable rate mortgage, just walked out on it and bought another house before the first house was taken away by the bank. So yet another bank made a horrendous decision to loan money to people who could not pay.
I don’t believe credit is bad, eventhough for the most part, we try to pay with cash. It is the way credit is used that can be bad.
Let the free enterprise system run its course. If banks won’t loan money, there will undoubtedly be people who will step up and loan…private investors. But they will be more careful, because it’s their own money they are gambling with.
Luke 14:28-30…..28 “But don’t begin until you count the cost . For who would begin construction of a building without first getting estimates and then checking to see if there is enough money to pay the bills? 29 Otherwise, you might complete only the foundation before running out of funds. And then how everyone would laugh at you! 30 They would say, ‘There’s the person who started that building and ran out of money before it was finished!’ NLT
I believe in helping those who really are trying, but have some bad times. A friend of ours owns a business, and sometimes has difficulty getting his customers to pay. We help him when that happens. He is a hard worker and loves God. It is the Christian thing to do. But I don’t believe in just handing over money to anybody who has their hand out.