Friday, May 18, 2012

No Mr. Biden This Is The "Big Deal"

I hate talking about politics and I'm that guy that is always left out of the conversation as I have no clue what's going on with elections or anything.  Maybe its not the best attitude but I truly believe that my vote doesn't matter.  I am skeptical of the whole process and they will all do what they want to do regardless of the people's thoughts.  I voted once in 2008, waited in line for 40 minutes, and choose all of the candidates that I never saw a commercial for...none of them won.  I could go on and on about my why I don't like politics, but I hate politics and don't even like reading about it.

Anyway, I will say I am directly affected by the Obama Administration and the recent implementation of  HARP II or HARP 2.0

Basically the biggest change and how I qualified over the first HARP program was that is there no limit on the loan-to-value ratio as there was in the previous HARP.  Yes I am that much underwater on my mortgage and it sucks, but this isn't an investment to me but its a place to permanently live. 
So I hate to talk politics as this was a political decision that was granted by the government, but this directly affects the ecoonmy.  I won't give stats or extreme details as I am economically dumb but know just the basics.  My simplest and easiest to understand reason is that by refinancing I am knocking down about 3.75% off my interest for about $700-800 off of my mortgage payment.  The economy now has $700-800 more dollars going into it instead of the banks pocket based just off of that interest reduction (raw number minus all the detailed percentages). 

My house that I refinanced

How much money comes from tax payers or bailouts or how is the program supported? Short answer is I don't know.  This is one reason why I don't talk politics, because is nothing seems believable anyway.  All I see is a direct example of the program implemented and I wish many more people take advantage.  I hate bailouts and never wanted any of them to happen.  All I know is that I bought a house even when the market was coming down, had to go with a Fannie Mae loan, but I paid my mortgage every month and could continue to do so.  But if you could save even $300 a month would you?  The program is there and in my opinion you may as well take advantage of anything you can because than likely you or your generations will get screwed down the line anyway.

By the way I'll be cash flowing this into $FB....officially my only Facebook post.

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