Thanks for posting. I think its high time the voices on the other side of this issue are heard.
Below is my comment for our congressional leaders;
This will only continue to artificially inflate the bubble markets. I urge our Congress to act RESPONSIBILY. Do not push through legislation that bails out wreckless investors, instead look at the real issues at hand and fix these loopholes in our system that allows the big guy to take advantage of the average citizen; Derivative market that should never have happened, predatory lenders with unscrupulous tactics and programs, loose lending standards, and an entire system of buying and selling real estate where the term ‘buyer’s agent’ has little meaning (conflict of interest is built into our system as agents only are rewarded by pushing buyers to higher prices-thus higher commission). I have heard here in California alot of the foreclosures happening are not in fact true hardship cases. In fact our system of Foreclosure allows people to just simply walk away from their home if they are upside down on their mortgage. These irresponsible homeowners are taking advantage of the many loopholes in the system by simply walking, buying another home at a reduced price (as prices have come down a bit), all this before anything has been noticed by the banks and put on their credit. These are the role model citizens you are proposing to bailout? How about the millions of renting constituants that have played the game the ethical and right way and continue to try and save to afford a home, while that dream just keeps getting pushed further and further away as astronomical home prices continue to be inflated? This is affecting my generation X of being able to afford a decent lifestyle as we start our families. It’s time to stand up and be heard, as this bailout helps the few on our hard earned tax paying dollar! Please let this bubble burst and the market dictate the price of a home that is back in line with incomes!
