dirtylibrarian

So often you read about something in the news, but it doesn't feel real to you until it happens to someone you know. I got an email today that two of my friends in Sacramento just had to give up their home they bought a few years ago because the adjustable rates on their mortgage went sky high. This is a stable couple with decent jobs, and just ok credit. A normal American family. I feel so lucky. My anxiety kicked in when I saw a few months back that my ARM had gotten up to 10%, but I was able to take a fixed 4% loan out through my grandfather's estate. Without that, I don't think I would have been able to take the job I have now and keep my house. I get so pissed off at the way our system grows loopholes that allow greedy bastards to take advantage of people. You know someone has made HUGE amounts of money off all these families. This is right up there with credit card companies (who with the new bankruptcy laws basically have re-invented indentured servitude, IMHO), payday loan and check cashing places, and furniture rental stores. And don't get me started on HMOs. I think about all the good, hardworking people out there who can't afford a home of their own, while speculators drive up prices, and other people are living in homes so far beyond their needs it is nearly incomprehensible. I'm such a socialist at heart. What is so wrong with wanting to take care of people? To give them the resources and fair chances to get strong enough to take care of themselves. I really think greed has become the new faith of too many people in this country.