Life's unfair, get used to it!
The Rich get Richer, the Poor get Bailout & the Middle get Crushed! These are the facts of life and won't change, ever!
There is no better example of this than the current real estate market disaster.
The Rich caused the problem by allowing the Poor to buy homes with no money down, no proof of funds & financing them at such a low initial rate that they would be foolish to rent rather than reach the American Dream of Owning their own Home.
This was both beneficial to the Rich and the Poor. Most in the middle had the funds, great credit, proof of funds and the ability to pay their monthly payment comfortably. Many in the Middle group had 10%, 20%, 30% or even a higher percentage for a down payment.
Now the results of this get us to the original premise. The Rich were bailed out by the Federal Government, the Poor have either walked away from their homes without losing any equity or they are being offered incredible deals to lower their monthly payment or even lower their loan balance.
Those in the middle that have equity or lose their homes have no sympathy from Lenders or the Federal Government. If fact this group will inevitably give the Rich a huge profit once homes begin to sell at fair market value. There is no relief for the Middle! No one wants to lower their payments since losing their homes will not be a burden on the country!
The Rich get Richer, the Poor get Bailed Out & the Middle gets Crushed! Get Used to it!
Your Friend & Realtor,
Tony Lewis * RE/MAX of Valencia * www.TonyLewis.com tonyglewis@yahoo.com 661-702-4720
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