VIEW THIS VIDEO FIRST, IT'S SHOCKING: http://www.cnbc.com/id/15840232?video=1039849853
Dear Mr. Santelli & CNBC,
Your reporting on this topic today was an outrage. Are you calling my clients that have kept steady jobs for years, and now from no fault of their own, are possibly losing their home "losers?" Personally I think you are a pompous ass!
I agree that many people purchased homes that they could not afford, but why did the lenders place the stamp of "APPROVED" on the damn loan to begin with. Maybe the blame (not the trillions their getting) needs to go in that direction. And, is it wrong for someone that never had the opportunity to have the American dream of homeownership try to make it work? The lenders told these people they cou
ld afford it, so they bought. It's that simple.
You calling people that are behind on their mortgage, some for very valid reasons, "losers", only makes you look like a complete jerk and goes to the creditability of your bias reporting.
What do you propose? Shall we put all these people on the streets? Will that cost tax payers less? Your ignorance on this topic is baffling on so many levels.
The housing market is the backbone of our economy and needs to be corrected. The corruption and outright greed at the governmental and executive (CEO) levels created this nightmare we all live in today and needs to be addressed in order for this country to move forward. Just for the record, a personal friend of mine was dismissed (fired) from a national lender in 2005 for declining too many loans. It's fairly obvious where this problem started!
Someone I know needs to transfer to another state because it's the only way to keep his employment and means to feed his family. Their home has dropped over $200,000 in value and requires lender or governmental intervention or he will surely lose it, are they "losers?"
Let's hope for your sake you never lose your job reporting for CNBC (which by the way, I think you should), and are not required to sell your home that has dropped significantly in value. If so, I will be the first one at your door step picketing with a "LOSER" sign on your lawn.
In closing, some people have saved all their lives, built enough cash to purchase their first home, then catastrophe struck and they lost not only their income, but their savings due to the 60% drop in the market. They ask the lenders/government for assistance and you tag them as a "loser!" As far as I am concerned Mr. Santelli, you are not only an ignorant jackass, but an extremely poor reporter, and all around human being.
You're so damn smart, what do you propose? Stick your head in the sand and ignore this hoping it will just go away? I can only hope the next short sale I have approved for my "NON-LOSER" client, the loss comes directly from your tax dollars personally. Nothing would make me happier!
Thank you for your time and showing your true self. Character is identified during the bad times, and you have now shown yours clearly...
Frank Wible
RE/MAX All Pros
Short Sale & Foreclosure Division
Home Retention Services
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