Maxed Out II
Read this article in the news today. Don't blame me for no compassion or something, but what is it that these people don't get? you don't buy something you CANNOT afford!
(the story tells how Angela and Tim met, formed a family, with 3 kids, 3 dogs and 6 cats. But now they are facing a bank foreclosure on their home loan, and will lose their home ...)
Awwwhh... it's such a heart warming luvvy fuzzy story between Angela and Tim, but hey, the reality is that they shouldn't have so many kids so soon, and 3 dogs + 6 cats?! save and invest those money for your kids' college fund! Someone should really talk some financial sense into their heads, instead of just feeling sorry for them... I save my sympathy to the truly unfortunate, meaning bad luck that happened outside of people's control. (this sounds harsh, I know.) =p
I am just amazed that there is a large segment of the population out there that doesn't understand sub-prime loan are not free money, they have to be able to keep up the payments when the rates go up, and that over the long run they do eventually pay more than if they had put down the initial chunk!
Gosh, the school system really need to educate people to have a better math background, and also the fundamentals of financial values... maybe they should all start by reading "rich dad, poor dad" or the equivalent. ^_^
p.s. Um.. where can I get some of these cheap houses in this area? guess everyone here is financially astute and loaded...
(the story tells how Angela and Tim met, formed a family, with 3 kids, 3 dogs and 6 cats. But now they are facing a bank foreclosure on their home loan, and will lose their home ...)
Awwwhh... it's such a heart warming luvvy fuzzy story between Angela and Tim, but hey, the reality is that they shouldn't have so many kids so soon, and 3 dogs + 6 cats?! save and invest those money for your kids' college fund! Someone should really talk some financial sense into their heads, instead of just feeling sorry for them... I save my sympathy to the truly unfortunate, meaning bad luck that happened outside of people's control. (this sounds harsh, I know.) =p
I am just amazed that there is a large segment of the population out there that doesn't understand sub-prime loan are not free money, they have to be able to keep up the payments when the rates go up, and that over the long run they do eventually pay more than if they had put down the initial chunk!
Gosh, the school system really need to educate people to have a better math background, and also the fundamentals of financial values... maybe they should all start by reading "rich dad, poor dad" or the equivalent. ^_^
p.s. Um.. where can I get some of these cheap houses in this area? guess everyone here is financially astute and loaded...
-- posted by Pooh Bear @
3/28/2007 12:43:00 PM
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