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Wednesday, March 31, 2010
Monday, March 29, 2010
Change Gon Come
I’m starting to wonder how all this “help” is considered “help” when it comes to the financial world. We sit back and hear the horror stories all day long relating to people defaulting on home loans because of high payments to loss of employment. On top of that the properties that were purchased are so far undervalued that people are walking away. All the pain and strife seem to be faced in one direction, but there’s a different affect this has on others.
There’s a generation of people that have been fortunate to have a steady job, with decent credit that was recently established that are in a predicament that is unfair according to the standards set before. So much so that these people have higher credit scores already in comparison to those before. But these people are unable to finance ANYTHING it seems without extremely high down payments. Is this harsh treatment fair to the wave of people that were wise enough or fortunate enough to not jump in head first into situations that would be questioned by a level headed individual? I’ll gladly answer that question, HELL NO. The mistakes have been made in such abundance that it’s clear what to do, and what not to do these days. But how come those that have made the mistakes are the ones receiving all the efforts to correct their wrongs? Change comes to correct situations and helping the very people that caused this mess initially seems completely unfair.
Think about this, because person A had a home, car and credit cards before with high limits screwed up and chased a far fetched dream, persons B and C are not able to get any assistance because they limited themselves on the dependency of credit. Now that they have the confidence, steadily built a credit history and have seen the mistakes made by others, their dreams of having their own “piece of the American pie” have been dismantled because of efforts geared in only one direction. A $8000 tax credit for new home buyers is nice and all but having to come up with $20,000-60,000 cash is outrageous for properties ranging in value from $100,000-$250,000. On a smaller scale, lenders for new and used vehicles are quick to turn a person down that has a good credit score, but no vehicle loan history. Yet a person that has owned a few vehicles has a poor credit score & payment history can be approved instantaneously. Now sit here and say it’s all FAIR, I dare you!
Change is needed in order for things to pick up. When will it be learned that helping the same people that screwed things up the first time are not going to wise up and change their ways to better society. Give a new generation an opportunity to be the consumers to bring American’s back to the top of the consumer world. I’m not saying that all those that screwed up are to blame or that it was unforeseen circumstances, but far too often we know of situation where we think too ourselves “what the hell were they thinking?” So lets all reevaluate the systems in place and lets look for a fair medium to give the “newbie’s” an opportunity to at least begin baking their pie with all the ingredients available to them
There’s a generation of people that have been fortunate to have a steady job, with decent credit that was recently established that are in a predicament that is unfair according to the standards set before. So much so that these people have higher credit scores already in comparison to those before. But these people are unable to finance ANYTHING it seems without extremely high down payments. Is this harsh treatment fair to the wave of people that were wise enough or fortunate enough to not jump in head first into situations that would be questioned by a level headed individual? I’ll gladly answer that question, HELL NO. The mistakes have been made in such abundance that it’s clear what to do, and what not to do these days. But how come those that have made the mistakes are the ones receiving all the efforts to correct their wrongs? Change comes to correct situations and helping the very people that caused this mess initially seems completely unfair.
Think about this, because person A had a home, car and credit cards before with high limits screwed up and chased a far fetched dream, persons B and C are not able to get any assistance because they limited themselves on the dependency of credit. Now that they have the confidence, steadily built a credit history and have seen the mistakes made by others, their dreams of having their own “piece of the American pie” have been dismantled because of efforts geared in only one direction. A $8000 tax credit for new home buyers is nice and all but having to come up with $20,000-60,000 cash is outrageous for properties ranging in value from $100,000-$250,000. On a smaller scale, lenders for new and used vehicles are quick to turn a person down that has a good credit score, but no vehicle loan history. Yet a person that has owned a few vehicles has a poor credit score & payment history can be approved instantaneously. Now sit here and say it’s all FAIR, I dare you!
Change is needed in order for things to pick up. When will it be learned that helping the same people that screwed things up the first time are not going to wise up and change their ways to better society. Give a new generation an opportunity to be the consumers to bring American’s back to the top of the consumer world. I’m not saying that all those that screwed up are to blame or that it was unforeseen circumstances, but far too often we know of situation where we think too ourselves “what the hell were they thinking?” So lets all reevaluate the systems in place and lets look for a fair medium to give the “newbie’s” an opportunity to at least begin baking their pie with all the ingredients available to them
Friday, March 26, 2010
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