Saturday, February 28, 2009

Paying for others mistakes?

Paying for others mistakes? Why should I or anyone else pay for someone else's mistake? I learned a lesson when I was a teenager. I had a paper route in my neighborhood, I took it over from another kid in the neighborhood. he took me with him a couple of days to show me the route. I paied for my bond which was required at time out of the allowance that my parents paid me for house work. Everything was going good the first couple weeks till I went to collect for the first time. Back then and maybe in some places you paied your paperboy/person once a month personally. Not by mail or online but I would ring the door bell and collect cash. I went up to the door of one of the houses I had been delivering to for a couple weeks and asked for the money. I was told " I never ordered the paper and I am not paying for it", I was shocked how could he take the paper for a couple weeks and then not pay for it? I was piised at the man but as I continued on the rest of my route I came to realize that it wasn't his fault I delivered to the wrong address, so why should he pay for my mistake.....

Now I have been renting for quite awhile now for many reasons. Primarily I am in the aviation maintained field and I have been laid off several times. I have moved to three different states while doing this job so it would be crazy for me to purchase a home, when in my opinion, I have no guarantee of a job next week. Also my credit sucks which is my own fault in many ways and also due to being laid off several times. So I would never even have thought about buying a home much less actually qualify for a loan. Or so I thought. Well it seems that many people could buy a home with similar or even worse credit than mine, a much lower income than mine, ect......

I am sure I am not the only one who either played by the rules or knew they were unable to buy a house. And now we are told we will have to bail these other people out. Well I learned this lesson fairly young." I didn't give you the loan to buy the house I didn't tell you to buy a house you could not afford so why should I bail you out?" Very similar to what the guy on my paper route said to me huh? To me that's not even the worst part of the plan. Not only are we bailing these people out, but we are told that by doing so we are going to help those that did play by the rules by keeping housing prices from falling even more. So let me see if I got this right. We are going to give people who can't pay their loan now money to pay for something that they could not afford so the price of the house won't go down. Isn't the problem that they bought more house than they could afford in the first place? How do we know they won't be like the auto makers, and come back in a few months or years and ask for more? I won't even go into the fact that the many of those who are pushing this plan are also the ones who pushed legislation that caused it.....

Maybe some of those now in power should have had a paper route as a kid. Very simple lesson learned at a very young age sticks with you for a lifetime.

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