In retrospect, I’m starting to get really, really angry over the Sub-Prime lending problem. In fact, I’m nearly furious, and probably will reach that level soon.
Because I purchased a home in 2005. The loan was sold to another bank in 20066. I looked into refinancing in 2007, but couldn’t get a good enough rate to make it worth it. I purchased another home when I moved in 2008. I looked into refinancing the original home again in early 2008. Several times I contacted Countrywide Home Loans in this process. I had a good rate, but dropped out when I heard about CMG Mortgage Accelerator.
Never once in this time was I ever offered a Sub-Prime mortgage. I am an excellent credit risk (read: NO risk at all). If they had offered more sub-prime loans to people like me, who actually deserve better treatment, maybe there wouldn’t be this much of a problem.
I think my anger is clear. I was already irritated that if you do the right thing, keep your nose clean, act responsibly about money, you get to pay your entire mortgage, but if you are a greedy fool and don’t act responsibly, the government will find a way to bail you out and try to help you keep your home, but make responsible people like me pay for it through increased taxes. I wasn’t more than irritated because that’s just typical Democratic Party governance.
But I am now realizing the insult to injury from the Democratic Party leaders: they acted to ensure that responsible people like me wouldn’t even be offered the sweetheart sub-prime rates that they reserved for buying political power from lower class voters.
Thanks, Democratic Party voters! I vote Republican so you have the freedom to succeed or fail based on your own decisions, and retain the freedom to succeed later by learning from bad decisions. But you just keep on letting the government screw me over and bleed me dry because I’m supposedly “privileged” by not being a f’n idiot who makes reckless and irresponsible decisions in my life.
Flat out: every single bad thing in my life is the direct result of Democratic Party platforms, philosophy and politicians, from high taxes to bad economy (thanks, overly negative media and Chuck Schumer!) to losing custody of my kids. And now the credit crisis and stock market crash, and thanks to Democratic Party policies, I can’t even console myself with a low mortgage loan to help ease the pain of the likely tax increase Obama will find a way to levy on the middle class.