Bail Out the HELOC Abusers

IrvineRenter_IHB

IrvineRenter_IHB

New member
It has been a while since something I have witnessed in this crash has outraged me. My cynicism toward the various government interventions has shielded me from outrage in that area, and very little in the news surprises me even though it seems to surprise all the "experts." However, a <a href="http://bubbletracking.blogspot.com/2008/10/june-reyno-you-have-seen-no-anger-yet.html">series of posts</a> ocrenter has done over at <a href="http://bubbletracking.blogspot.com/">Bubble Markets Inventory Tracking</a> has really caught my attention. Some dip$hit community group in San Diego has latched on to an emotionally unstable woman as their symbol of the foreclosure crisis. Bad choice.



<a href="http://obrag.org/?p=1793">This woman </a>bought her house in 1999 for $200,000, and by 2004 she managed to HELOC her debt up to almost $600K. Of course, she can't support this debt, and now she is crying foul and wants to be bailed out. THIS PISSES ME OFF! This woman took $400,000 out of her home and spent it, and now we are supposed to save her home? Screw that. Throw her out on the street, and make her turn tricks until the $400,000 is paid back. If even 1 penny of my tax money benefits her in any way, I consider it too much.
 
All of this sh*t makes me absolutely sick! My wife and I are fortunate enough to be in the top 2 to 3% of wage earners in the US, we work hard for our money. It absolutely drives me crazy that my taxes (by the way Obama, i already pay my fair share) are going to a pay for dumb ass people like this one to stay in their homes. I think i get hosed in taxes as it is, but if it was going to something that was actually needed (like health care or something) i would feel much better about it. Instead it is going to go to try to maintain inflated home values - fucking great.
 
That lady pisses me off. I want her to live in my 2BR apartment for 5 years while she saves for the downpayment on her next home.
 
I too was outraged. I came to IHB to post about it but I saw it already here. Makes me literally sick, as I sit here and scrape and save to afford my first home, this lady is crying for help.



She's also a realtard: <a href="http://junereynosales.com/">http://junereynosales.com/</a>



AND runs a scam-my get-rich-quick-through-real estate group:



?sophisticated lenders that want to earn more for their investment dollars? in the The Great Wealth Wave and Pursuit of Happiness Meetup:



<a href="http://investing.meetup.com/552/members/7857831/">http://investing.meetup.com/552/members/7857831/</a>



But I guess there is fairness in the world, after all her house is in Mira Mesa. Yuck.
 
I didn't know I could vomit, then swallow, and vomit again... It's individuals like this that make me repeatedly nauseous. How about she liquidates all of her RE holdings to payoff what she owes on her own house?! What an unconventional solutions eh?! Uh... no.
 
Her story doesn't even make sense. It says in a couple of places "her/their home of 19 yrs" but they bought it in 1999? Did they add an extra 1 in front of the number by mistake? Did they just maybe refinance in 1999?
 
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