It's a well-known phrase often light-heartedly spoken at a house guest to describe how much of the homeowner's resources the guest is consuming.
But it's a reality now with a record number of foreclosures across America. Sub-prime loans with adjustable rates looked promising a few years ago. With low monthly payments and no money down the opportunity was readily available to own a home.
Fast forward to present day and those once attractive low payments have swelled to behemoths that are causing thousands of foreclosures.
The government is putting pressure on the banks to stall the foreclosures. What!!
These homeowners understood what they were getting into. If you knew your mortgage payment had an adjustable rate and could possibly go up, you should anticipate that in your budget.
Maybe they had a slime-ball of a loan officer who didn't detail the guidelines of an adjustable rate mortgage.
These lenders should be held responsible as well for approving loans they knew could potentially be devastating.
I was reading in Fortune's 'Top 100 Companies To Work For' about a few loan companies that managed to still post record profits in 2007 amidst the housing crisis. How did they do it? By not dabbling in sub-prime loans. They saw the potential disaster and took they high road as opposed to the quick cash.
The economy is a mess, and I believe no one is arguing that fact.
What we argue over is the means by which we are to repair it. President Bush submitted a tax incentive which cleverly disguises the fact that it would be considered an advance on Tax Returns for the fiscal year 2008.
A majority of Americans have already proclaimed they are saving their soon-to-be-had tax rebates since they are already going through enough economic stress. The original purpose of the tax rebates was to stimulate the economy by giving Americans money in their wallet to spend. Instead, they are running to banks to save it.
A nice attempt but it will not provide real solutions. What do you think?
I don't even care when the "new message" is bright red anymore. It used to be the first place my eyes went once I logged into myspace. Now it is just a burden to delete the latest ipod giveaway, or "find out who has a crush on me" comment request.
I don't even understand the mentality behind this sort of spam. If these actually get posted on someone's page do people really go to the site. my eyes don't even see these things anymore. Im so conditioned to ignore obvious interenet advertisment that they just blend into the background.
I could understand putting the false video image of some girls cleavage that takes you to some other website. That is at least innovative. it has potenial to capture a few people but most of this myspace spam is just lame.
I'm getting sick of this site. It is really beginning to feel like a waste of time.
Yes, we've been dormant for some time, but for good reasons we promise.
The past few months we've been in rooms with lots of electronics with names I can't pronounce recording our upcoming album. The recording is finally wrapped up and we can't wait to let you hear the new material!
Keep checking as we will be working on booking shows and figuring out when we can finally get this album in your hands!
bullied
energetic