Loan Mods & The Bailout

With the timing of the

foreclosure crisis resulting into Loan Modifications as the solution to resolve the crisis homeowners are experiencing, the results were paltry at best and coincidentally criss-crossed with the now infamous discussion of Bailouts.

Now we're really in a jam!!!!!

Paulson intimated using a "Bailout" to help homeowners as a ploy to game the politicians in approving the plan, when in fact that was never the intention as how could you possible justify starting the game with AIG's boost?

Months later the very homeowners who were the topic of discussion in getting the bailout approved have been left stranded, and in fact many have lost their homes as the clock simply ran out.

Anyway, now that Bailoutmania has started you might as well heal all those in need, otherwise you most certainly will leave a group disenfranchised. Many colleagues and clients I speak to are asking - "where is the bailout for folks who make their mortgage payments on time - - why are people who took a mortgage out and who are experiencing tough times be the only one receiving help?????"

Our economy is built on consumers ability to spend and if that ability is affected, what we currently are experiencing (as an economy) will be our reality. Therefore we are in support of whatever measure is necessary to get this economic engine moving - bailout, grant, gift - it doesn't matter as evidenced by the long line of companies with their hands out seeking bailout assistance. Also, on a side note, some or perhaps I should say most are the very culprits reeking havoc, as they are reducing payrolls at an alarming rate, and unfortunately those people at the middle to lower will die, if they do not have the ability to earn income - hence A JOB.

Anyway, stay tuned as this issue will be hot fodder well into 2009.