Pardon my blunt tone, but honestly, do hardworking American citizens need more debt on their shoulders?  Congress, the Senate and now President Bush apparently think so.

The signing by President Bush of the new housing bill is supposed to help keep 400,000 homeowners from foreclosure by refinancing them into lower-interest FHA loans, backed by $300 billion in federal aid. This funding may be funded federally, but it will be coming from taxpayers’ pockets.

My beef? I did not gamble on an adjustable rate, low interest/no interest loan. I did not choose to purchase a house that was hundreds of thousands of dollars beyond my means. I certainly did not choose for my children to be saddled with more national debt and for my family to take a hit in taxes.

Can we start educating the public on living and maintaining a healthier lifestyle all around? A healthier lifestyle would include an “affordable” lifestyle. Everyone makes mistakes–you pay the retribution, lace up your boot straps and move on.

Honest to blog … Does anyone else feel the tidal wave building? Is there another way to help without burdening the shoulders of taxpayers?

Give your 3 cents by commenting below.

If you enjoyed this post, you might want to read:

• A homestead declaration could save your house from creditors
• Do homeowners deserve to be foreclosed on?
• Connect2Agent takes a look at foreclosures

Posted by Rebecca D. Levinson

Tags: fha loans refinancing, housing bill, president bush

This entry was posted on Monday, August 4th, 2008 at 6:00 am and is filed under Current Affairs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.