just walk away

(29 posts)(23 voices)
  1. I posted something similar recently...except my friend isn't walking away, just not paying her mortgage so that they can save some money and then get the "bailout."

    You all know that I am a bleeding heart liberal. But the other day, I realized that I have been busting my hump working for 25 years (helped put myself thru school, etc.), and I have never received any assistance. Of course, I am proud of that, but people gaming the system really just eats me up.

  2. Yes, I also find it annoying and morally wrong. But, I dont worry about those people - Karma is a Beotch!

    However, my house situation sucks. We bought our home at the peak of the market (oh joy) in 2004. We put down 10% and we could totally afford the payments, no problem at all. We even got a 2nd mortgage for renovations in 2007. It was tight, but doable. Then our kids school tuition hit us. Yes, I know public school is free. but our children attend private religious schools and the education we want for them is not available in the public school, and we dont want to expose them to a lot of religious issues in public schools (games and events on our Sabbath, food they cant eat, etc . . .)

    Anyway, we were able to make it all work, as DH got a large bonus yearly which covered the school tuition. Well, now in 2010, his bonus was cut by 60% or so and we are now in a pickle. We can afford to live but paying for school is now a real issue. Luckily, it seems like we can do it for next year as long as I get a job by June 2011 (I finish school in Dec 2010) We applied for financial aid and were denied b/c apparently, we have been too responsible with our money.

    We live ina 1200sq ft home plus basement, while about 95% of the students at the school live in a home 2-4times the size of ours. Most of my kids friends vacation 1-2 times/year - we dont vacation ever. Yet, I know plenty who were given aid and we were not. We were told that some people are 50K in debt so they got aid. While I get that you might be 50K in debt b/c you lost your job, okay, you deserve aid. But if you are 50K in debt b/c you live above your means and dont watch your money, well, why are you ahead of me in line???????

    Okay, I have no idea what my point was, only that I get annoyed by being "punished" for being responsible. I am thankful that we can afford to live and send our kids to their school, but we can do this b/c we are careful and are realistic.

    I do see why people would walk away form their homes, but I dont see how they live with themselves if they can afford it but do this anyway.

  3. telly -

    this is a rant my brother has always had and one of the few things that we can actually agree upon. he has 4 kids and his wife was a sahm - they were strapped beyond my comprehension at times but he always managed to save and invest (that is his nature) when it came to financial aid or any assistance for schooling they were denied - it upset him so much - so there was joe smoe down the street driving a mercedes and he could get finacial aid but here he was busting his butt and being fiscally responsible and he got nada.

  4. I don't understand why some folks would want to screw up there credit. We lost our jobs in early 2009 and because we have been so delinquint with bills I worry our credit might be so bad that we can not get a job because they run credit checks to get a job.

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