Knowledge Is Wisdom

Tons of activity and confusion is going on in our Country right now, it is hard to know who, what, when or where. However, I believe knowledge is wisdom so I watch the news regularly and try to balance different views.....I also read all that I can about what is happening in our Country.....and, I don't like what I am hearing.

Again, as I just read another article by Bruce Fong, he concurs with my thoughts completely and he explains it far better than I can...... Again, I quote from Bruce: "My skills at government talk is quite modest. However, I am going to try and decipher out loud what I’m hearing. Maybe hearing myself explain things will help me digest things a little better.

If a homeowner has not been able to keep up with his house payments as he promised he would, there is help on the way. Even though he has legally entered into an agreement with his lenders he will be the recipient of a bail out. But, he only qualifies if he has been missing payments as he promised he would do.

Also, if the house that he agreed to purchase is now worth less than what he paid for it there is also help on the way. “They” will reduce the principle of his mortgage in order for him to restart his payments. “They” will also wave late payments, that is payments that have been missed will be forgiven.

In addition whatever the interest on the agreed mortagage will also be lowered as the priniple is reduced. “They” will rework the numbers to make it more comfortable for the homeowner who has been delinquent on his payments.

Finally, “they” will given him a reward for participating in this restructuring of his past agreed to terms. If after one year he is able to keep up on his new payments then, they will give this homeowner a $1,000 cash reward. This is like hearing about Christmas coming in February.

Now, since I have been keeping up with my mortgage payments without a miss since I promised to do so years ago, I do not qualify for this bailout. Furthermore, since I have been faithful in my payments then I will not have the principle of my loan reduced. Nor will the interest on my loan be reduced. But, I am included in this bailout plan because I am one of the “they” that is paying for all of this."

I repeat....Knowledge is Wisdom