The president signed the housing bill

President Bush as signed the housing bill to provide relief to the housing market.  Now I have very mixed emotions about this.

For example I read online yesterday that someone who was so lucky be chosen to have their house made over with the show Extreme Makeover Home Edition, could take a loan out and end up in foreclosure?  You know what SHAME on them!  After all that hard work that everyone volunteered to do, to take a loan out for $450,000 to open a business they claim went under?  I just can not believe it.  It is so very sad.  If you have to relocate due to losing a job to get a new job and you had to sell the house is one thing, but that just blows my mind.  It makes me very angry.

Now I honestly have to sit and ask myself why folks would put themselves in the position in buying a house they can not afford in the first place?  This I do not understand at all.  When my hubby and I went from renting to buying a house two years ago, we know what we could afford and could not afford and stayed within our means.  We thought about it “down the road”.  Folks who took those sub prime rates didn’t.  What about the loan companies?  You seriously think they didn’t know what they were doing?

It is really a shame.  There are many families out there who struggle to make ends meet simply because of the cost of living expense that have gone up, that choose between a mortgage payment or food, that need this help and you know what, they are NOT the ones who will benefit from it, no its going to be those who foolishly bought a $350,000 plus house knowingly after a few years they would not afford it and thought they could just flip it and sell it.