All three major networks discussed the worsening foreclosure situation tonight (3/6). CBS and NBC appeared to have a pro-bailout, anti-bush/paulson, tone.
Makes my blood boil to think that there could possibly be a bailout (some might argue, including me, that we already have a bailout with the increase in FHA and Fannie and Freddie limits).
Although not my first choice, I have contacted my representatives. If you’d like, here are some links that wil help.
Also, I found these letters on Patrick.net that you may consider using…
Dear X Representative,
Please do not support the efforts to bail out subprime
borrowers with my tax dollars. As a responsible citizen, I
do not feel it is right for you to ask me to pay for other
peoples’ financial mistakes, especially since a bailout
encourages lenders to keep on making predatory loans,
with the assumption that taxpayers are on the hook.
I appreciate the goal of helping people to have access to
housing, but the proposed subprime bailout will only reward
people who acted irresponsibly, and it will punish people
who work hard and diligently manage their finances by not
buying houses which they cannot afford.
The housing market has begun a process of correction. This
is necessary in order to keep housing affordable in the
long-term. Let the market correct so we can achieve
stability again, and people are able to save and afford the
house of their dreams over time. That really is the true
American Dream.
Sincerely,
Your Name
City, State
———————–
And here is another possibility:
Dear X Representative,
Please do not support the efforts to bail out subprime borrowers using my tax
dollars.
I have been a resident of (yourstate) since (year), and have been a financially
responsible citizen with an excellent credit history. I also have a college
education with multiple degrees, and a stable employment with a good salary.
Yet, I am not a home owner because home prices in (yourstate) have become
unaffordable to a middle class person such as myself.
Who is responsible for this mess? Certainly several parties such as unscrupulous
real estate agents, lenders, and buyers with liar loans. Some of the actions
taken by these parties are criminal, and we should be pursuing prosecution for
various types of fraud.
But instead of pursuing prosecution for financial fraud, congress is now in the
process of trying to bail out the very people responsible for the unrealistic
price run up in the first place.
Who does this really help? Either they have knowingly obtained  liar loans, or
they have made major financial errors out of their own doing. Should other
people be responsible for the poor financial preparation and judgments of these
subprime/liar loan borrowers?
What about citizens like me? Who is going to give me a bail out for being a
financially responsible citizen, so that I could buy the American dream like the
subprime/liar loan borrowers?
Please don’t be deluded into believing that people who take out subprime and
liar loans aren’t greedy, or that they weren’t aware of their actions.
They certainly knew that they could not afford these homes before, and all of a
sudden they were able to. How? Of course, they asked themselves this exact same
question, and knew that they would have to pony up at a later time. They just
simply thought that their house price would appreciate enough by then to cover
the short fall. This is GREED GREED GREED. They wanted something for nothing,
for which they would not have to work for at all.
Please don’t take MY American dream away by taking my tax money, and
redistributing it to financially irresponsible borrowers.
second is better, but too long and divisive. Need to sound poor to get their attention. Keep it at high school level.
Take the first and add this from the second:
“I have been a resident of (yourstate) since (year), and have been a financially
responsible citizen with an excellent credit history. I also have a college
education with multiple degrees, and a stable employment with a good salary.
Yet, I am not a home owner because home prices in (yourstate) have become
unaffordable to a middle class person such as myself.”
second is better, but too long and divisive. Need to sound poor to get their attention. Keep it at high school level.
Take the first and add this from the second:
“I have been a resident of (yourstate) since (year), and have been a financially
responsible citizen with an excellent credit history. I also have a college
education with multiple degrees, and a stable employment with a good salary.
Yet, I am not a home owner because home prices in (yourstate) have become
unaffordable to a middle class person such as myself.”
second is better, but too long and divisive. Need to sound poor to get their attention. Keep it at high school level.
Take the first and add this from the second:
“I have been a resident of (yourstate) since (year), and have been a financially
responsible citizen with an excellent credit history. I also have a college
education with multiple degrees, and a stable employment with a good salary.
Yet, I am not a home owner because home prices in (yourstate) have become
unaffordable to a middle class person such as myself.”
second is better, but too long and divisive. Need to sound poor to get their attention. Keep it at high school level.
Take the first and add this from the second:
“I have been a resident of (yourstate) since (year), and have been a financially
responsible citizen with an excellent credit history. I also have a college
education with multiple degrees, and a stable employment with a good salary.
Yet, I am not a home owner because home prices in (yourstate) have become
unaffordable to a middle class person such as myself.”
second is better, but too long and divisive. Need to sound poor to get their attention. Keep it at high school level.
Take the first and add this from the second:
“I have been a resident of (yourstate) since (year), and have been a financially
responsible citizen with an excellent credit history. I also have a college
education with multiple degrees, and a stable employment with a good salary.
Yet, I am not a home owner because home prices in (yourstate) have become
unaffordable to a middle class person such as myself.”
.
