What's the point of being good?

This is a slight deviation from my regular topics, but it’s infuriating me every time I hear about it.

I’ve tried to give Congress the benefit of the doubt with this recent bail out and infusing banks, as I understood the position and the need to bolster the economy. This also isn’t a national issue, it’s global.

However, this latest plan to restructure mortgages for people who are losing their homes makes me furious. My husband and I upgraded when things were swinging upward, we got a great deal on the house he’d been in for years, we paid off all our credit cards, and moved to a very nice, big home with a great big yard in a great neighborhood. We looked at doing any number of ARMs, but in the end, felt better about sticking with a traditional 30 year mortgage. Our interest rate is decent, and while our payment is a staggering amount, we decided we could afford it. We pay our bill on time, and have never missed a payment in the two years we’ve had the house now.

What seemed like a good idea at the time is now threatening with the ominous forecast. The market is plummeting (though Utah is staying on the upper end of things for the moment.) Our home is barely worth what the mortgage is, but we’re not going anywhere anytime soon.

However…there are a LOT of people who got in over their heads, bought homes they knew they couldn’t afford (I would have been right there with them if we’d have done an ARM), and now they’re going to lose their homes.

…now who do you suppose is getting a pat on the back and a helping hand for their situation?? Of course!! Everyone who’s missed payments and is in jeopardy of losing their home can now restructure their loan so they can afford it. Are you kidding me? Where’s my credit for being good? What’s the penalty for missing payments and being in over your head?

THE CALVARY IS COMING….
My ex-mother in law used to bail my ex-husband and I out all the time. We were notorious for taking irresponsible risk after risk. We lived above our means and had a very disrespectful relationship with money. But no matter what, she’d write us a check and get us out of trouble time after time. You know what that taught us?? Nothing! We didn’t have to be accountable for our actions, there were no repercussions for making a bad financial decision - - and we made a lot.

The government is my ex-mother in law in a bad suit. They’re teaching the same lessons and no one is going to have to learn from their mistakes.

I hate to admit my dad was right all those years, but when I was growing up and he used to say “You’ve made your bed, now lie in it” I hated that answer. I wanted him to bail me out. I wanted him to fix my mistakes so I wouldn’t look stupid or lose money. He didn’t…and from his tough love, I learned. I learned a lot about accountability. I make decisions now based on not having a back-up solution...and that’s a completely different rational.

Yes, this mortgage solution is going to keep these people in their homes for a little while longer, but what are they going to learn? Nothing. They will continue to live above their means, they will continue to buy things they cannot afford, and this country is going to continue it’s downhill slide.

Thomas Jefferson, George Washington, and John Hancock would not be proud.

We have to stop looking to our material goods to satisfy us. How’s that working for you anyway? It sucks for me. I will absolutely admit I’ve wasted good money on trivial, frivolous things…things to decorate my house, crap I didn’t need but couldn’t resist when I gave in to my compulsive shopping nature. I’m trying to be better, but it’s hard when we’re all conditioned to keep up with the Jones.

I will commit to you that I’ll knock it off if you will. Let’s stop trying to impress each other with what we have, and start trying to impress each other with who we are.

EMPOWER YOU, EMPOWER ME