"Too_Many_Tools" wrote in message
...


Nothing to doo with republicans! All to do with people who spent MUCH
more than they had coming in. People ,with no commin sense, that can only
blame themselves for the situation they are in.



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Wrong.

Banks are the gatekeepers...they have a responsibility to their
creditors to lend money responsibily.

I don't agree completely. Sure the bank should be responsible for their own
profits. Giving out loans to people that can not afford them, so the bank
gets stuck seems like the banks problem to me. On the other hand the person
with his hand out looking to borrow money needs to be responsible for their
own financial situation too.

For example, I refinanced my home ~5 years ago, shaved two points, added
about $50 to my payment, shortened the term ten years, and saved myself
about $20,000 on the life of the loan! The bank ran the paper work, then
called me and said all was good and they would loan be the money, BUT, they
also asked my if I had considered buying a different home because of my
income and credit situation I should be in a house worth 3 times of the one
I am in! I said no way! They also asked me if I was interested in more
money, to remodel, or buy a new vehicle, home equity loan in other words.
Again I said no!
Just because someone is willing to throw money at you does not mean you need
to take it!!
Greg