How stupid can you be. This person made $70k/year and took out an interest only loan with a $2500/month payment. Her mortgage was easily costing her something in the region of 2/3 of her take home salary. Plus run away property tax, insurance, a likely car payment, not to mention other luxuries like food, clothes, gas. And the real kicker, she was working as a loan processor, she should have more insight into the market place than the average bear. Watch the video, linked at the top of the page! Look at the kitchen in that house. No restraint what so ever. This family must have been the builder’s wet dream come true. Not to mention the electronics store and where ever she buys her wine from. She talks about taking off the Tiffany bracelet and Coach purse before going to the food bank. How about eBaying those little luxuries? With the stainless appliances, marble counter tops, there is undoubtedly an over priced car in the garage.
Then there are these fools who are paying an $800/month gas bill. Let me offer some basic advice, get rid of the family pick up for something more economical. Fine, the guy works in construction, he "needs" a pickup, so go get something that gets more than 11/miles per $4 gallon. I know its out there. And since they live in Florida, they probably voted for Bush, so screw'em.
This twit probably should have picked a more affordable school or a better major, because $1600/mo in student loan payments is absolutely absurd. What did she do, go to Harvard and major in "I don't want to make a lot of money"? Actually, I have no idea where she went to school, but coming out with a $1600/mo tab should probably make you a lawyer or doctor or something else that pays better than $40k yr. My wife has a private school education and her loan payments are a fraction of $1600/mo.
Some financial stimulus, for Bank of America, these two managed to get out from under their ARM and they are sending their bush bucks to the credit card company.
Terrific life choice here, she quit her $50k/yr job so that she could take some time off, thinking she could always get something later. NOT! I am sorry she didn't like her job, but there is a reason they call it work ... Shit and fuck were already taken. She must have some partner, to let her submarine the relationship like this.
Some health care system we have, that allows someone to go $5 million in the hole for cancer treatment.
Touch choice, make your car payment or send your kid to private school.
Grow up, neither party in the American political system has any interest in the middle class. You don't donate, you probably don't even vote and there aren't enough of us to make a difference.
It’s hard not to feel compassion, but how about the stupidity and lack common sense. While some of us bought within our means or didn't buy at all because we were priced out, other fools went full speed ahead. It never dawned on people to not buy something, just because someone said you could afford the loan. It’s like the Martha Stewart mentality that traded on inside information to make a few thousand dollars, when she was worth of tens of millions. I just don't get the lack of restraint and rational thought.
These people and millions like them, stuck their nuts in the ringer and turned the crank themselves, and now they want responsible people to make an irresponsible chioce to bail them out. No thank you.
How about CNN does a story on someone who is living within their means and sweating these morons getting bailed out to maintain an over priced market. Now that would be an interesting story.