Sorry to do this, but I have to say something...the Fed's plan to offer those people having trouble with their mortgages - i.e. over extending themselves, being totally irresponsible and missing payments, etc - has me a bit miffed. I am a laid back guy, but the fact that I have been responsible and have made every payment to my mortgage and every bill means I lose out?
Huh?
Fannie Mae/Mac may be buying mortgages, for those "having trouble," and giving them a fixed 4.5% ...oh yeah, on new purchases too. So the people like me who actually refinanced to a fixed mortgage when there were signs of changes, and believe me there were signs, lose out. If I had simply done nothing, missed a payment or two and whined, I too might be able to save a couple to several hundred dollars a month on my payment, not to mention the $90k in interest over the life of the mortgage...Someone please explain this to me? I own a home, I am putting two kids through school, I own my truck outright, I pay my bills....on the other hand I don't have a BOAT, an RV to stay in when I use the boat at the lake, a second Dodge 3500 to pull the RV and the boat, I don't own three quads, a jet ski or a jeep to go "wheeling"....Instead I have a college education savings account, a 401k and I ride my bike as much as possible with the added bonus of not buying more gas (of course my food expenditures go up, but thats another discussion).
Perfect example is my neighbor, refinanced several times pulling money out each time, now her payment balloons in January so she decides to walk. She short-sells the home for $200k less than what she owes...the bank forgives the difference, collects that from the federal gov't and my neighbor now does not have to pay capital gains on that whole forgiven amount.....how does that work? Oh yeah, her credit rating is trashed, but my guess is the gov't will have a say in that down the line when things "pick back up" and these same people complain that they have bad credit.
Word for the day....RESPONSIBILITY....take some!
OKAY, I feel better now...
Road the CX bike for 2.5 hours yesterday, finally a winter day here, temp never above 49 degrees with some sun and more fog. As my work day came to a close I realized something yesterday....as I grab my stuff from my office and start down the stairs from the 5th floor, I realize I am skipping stairs trying to get down as fast as I can just like when I was in elementary school at the end of the school day...you know that feeling you had that you had the whole rest of the day to have fun! I seriously feel like that each time I get to ride my bike. Everyone wants to be young again, why not just live it everyday!
Off to Annika's dance recital, leaving from there to Cameron's Indoor Soccer practice then to celebrate Max's big 1 year b-day with Scott and Shelly.
The whole time proud of the fact that my property tax check just cleared, my mortgage payment was taken out of my account, my daughters tuition was deducted leaving me just enough to feed the kids and play a little with 2 birthdays and Xmas this month...
You know what.....I am damn happy with that!
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