Monday, February 2, 2009

Something is wrong here

My son was telling us a story last night. He ran into some old HS buddies of his. And they were talking about life in general and it came down to the foreclosure problems. One of them needed to refinance his house - he was current on all mortgage payments - but was told he did not qualify to refinance.

So when he asked what he needed to do - he was told (according to this story) by the mortgage holder to stop making payments!!!!!!!!!!!! So sure enough, after 3 months of not making the mortgage payments - he was offered a refinancing package!

Does anyone else feel that there is something wrong with the ethics and morality of our financial businesses when this is the advice they are giving out?

Pay your bills and be punished.

Dont pay your bills, and be rewarded.

And people wonder how and why the state and country has become so messed up?

1 comment:

MLJ1954 said...

Absolutely wrong. I just don't understand it. However, I have a friend who discovered just before she was getting married that her soon-to-be husband had not paid taxes in 15 years. According to the IRS he owed over $150,000+interest and penalties. They settled for $10,000 and a guarantee that he would file taxes. How ridiculous is that. By the way, she still married him.