General > General info Somewhat hot tub related
another one bites the dust
Renee:
My understanding, and correct me if I'm wrong, is that Obama's plan will get people's loan balance below the value of their houses. For example, if they bought and financed a $200,00 house, and now it's only worth $150,000, they will get to rewrite the loan for the $150,000 that their house is now worth. I have found written documentation that states "If it's necessary to reduce principle, then Treasury will provide assistance with this, as well." That's not fair. My husband and I did things the right way...saved for a down pymt, financed over 15 years, so the amount we owe is WAY less than the value of the house, even in these depressed times. What we should have done, is buy more house than we could afford, finance everything in a crappy mortgage, and then when the value of the house dove, we could let the goverment help us refinance a $200k mortage for a 150k mortgage. That's quite a return.........
Swell-Tub:
Great Idea!
We should all try the same thing!
Dear IRS - Actual Letter
February 16, 2009, 2:36 PM
Actual 'Letter to the Editor' from the February 5th edition of the
Wichita Falls , Texas Times Record News...
Dear IRS,
I am sorry to inform you that I will not be able to pay taxes owed April 15, but all is not lost.
I have paid these taxes: accounts receivable tax, building permit tax, CDL tax, cigarette tax, corporate income tax, dog license tax, federal income tax, unemployment tax, gasoline tax, hunting license tax, fishing license tax, waterfowl stamp tax, inheritance tax, inventory tax, liquor tax, luxury tax, Medicare tax, city, school and county property tax (up 33 percent last 4 years), real estate tax, social security tax, road usage tax, toll road tax, state and city sales tax, recreational vehicle tax, state franchise tax, state unemployment tax, telephone federal excise tax, telephone federal state and local surcharge tax, telephone minimum usage surcharge tax, telephone state and local tax, utility tax, vehicle license registration tax, capitol gains tax, lease severance tax, oil and gas assessment tax, Colorado property tax, Texas, Colorado, Wyoming, Oklahoma and New Mexico sales tax, and many more that I can't recall but I have run out of space and money.
When you do not receive my check April 15, just know that it is an honest mistake. Please treat me the same way you treated Congressmen Charles Rangle, Chris Dodd, Barney Frank and ex-Congressman Tom Dashelle and, of course, your boss Timothy Geithner. No penalties and no interest.
P.S. I will make at least a partial payment as soon as I get my stimulus check.
Ed Barnett
Wichita Falls
Bonibelle:
I saw a bumper sticker that you might like too:
[size=16]Honk if I'm paying your mortgage!![/size] ;D ;D
SerjicalStrike:
--- Quote ---My understanding, and correct me if I'm wrong, is that Obama's plan will get people's loan balance below the value of their houses. For example, if they bought and financed a $200,00 house, and now it's only worth $150,000, they will get to rewrite the loan for the $150,000 that their house is now worth. I have found written documentation that states "If it's necessary to reduce principle, then Treasury will provide assistance with this, as well." That's not fair. My husband and I did things the right way...saved for a down pymt, financed over 15 years, so the amount we owe is WAY less than the value of the house, even in these depressed times. What we should have done, is buy more house than we could afford, finance everything in a crappy mortgage, and then when the value of the house dove, we could let the goverment help us refinance a $200k mortage for a 150k mortgage. That's quite a return.........
--- End quote ---
From the Constitution:
Section 10 - Powers prohibited of States
No State shall ... pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
The power to rewrite contracts is never enumerated to the federal government and is specifically prohibited in the case of states. If you entered into a contract, the government has no power to force banks to rewrite their mortgage loans.
Renee:
--- Quote ---I saw a bumper sticker that you might like too:
[size=16]Honk if I'm paying your mortgage!![/size] ;D ;D
--- End quote ---
That's sad AND funny...all at the same time!
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