Obama, â€œAffordable Housingâ€ Savior
By: Guest Authors
By: Neil Braithwaite
Once upon a time in America, before the early 1990â€™s, there was a special, you might say privileged, group of people living in our great country. This special group of people worked very hard on their journey to attain what has come to be known as; the American dream. The special groups of privileged Americans are known as homeowners.
Letâ€™s explore their remarkable journey for the American dream.
In the beginning, people had to qualify for a loan before they could get a home mortgage. That meant they had to actually â€œproveâ€ they could pay the loan back.
But back then, bankers and lenders were very evil and only loaned money to responsible people. Thatâ€™s why homeowners were considered privileged and special. And what homeowners had to go through just to get a home mortgage was at times unimaginable and often humiliating.
Those evil bankers and lenders would wring their hands in delight as they asked every prospective borrower pointed and personal questions like; do you have a substantial down payment, how about a cash reserve, what about proof and history of employment?
Those evil bankers and lenders always doubted those unsuspecting borrowers and never took their â€œwordâ€ for anything. The bankers and lenders would call every borrower reference and ask probing and personal questions in a brazen attempt to make sure they were telling the truth.
If that wasnâ€™t enough to dissuade the borrowers, at the closing, those insidious bankers and lenders would make those beleaguered borrowers sign page after page of legal loan documents.
Next, the maniacal bankers and lenders would make the borrowers sign a â€œPromissory Noteâ€ that made them â€œpromiseâ€ to pay back the money. Who would do such a thing?
Finally, those evil bankers and lenders had the audacity to make the already emotionally spent borrowers sign a mortgage before they could get the Deed to the house.
The exhausted and emotionally spent yet, responsible and respectable borrowers knew that signing the dreaded mortgage document really meant; if you donâ€™t pay-you donâ€™t stay.
Thatâ€™s right, those evil bankers and lenders held the trump card in this whole diabolical transaction, itâ€™s called collateral.
Bankers, lenders and homeowners went about their business and all was well in America until a new liberal President was elected. Our new President, Bill Clinton, had a special gift for feeling peoplesâ€™ pain when they were hurting or in trouble.
President Clinton decided that the disparity between privileged homeowners and the people who couldnâ€™t afford one was just too painful for America.
So this compassionate healer, along with his merry band of social liberals, started a program to stop the pain and called it; â€œAffordable Housing.â€ This new â€œpain killingâ€ program was bestowed upon a less fortunate and unprivileged people in America known as â€œrenters.â€
In the time of President Clintonâ€™s eight-year reign, millions of former renters found pain relief in homeownership.
President Clinton passed the scepter of power for the next eight years to Americaâ€™s new leader, George W. Bush.
President Bush seemed fine with â€œAffordable Housingâ€ until things started unraveling and the people it was supposed to help started feeling a new pain called â€œforeclosure.â€
It seemed that those evil bankers and lenders left the â€œif you donâ€™t pay-you donâ€™t stayâ€ clause in the mortgage and were actually taking back their â€œcollateral.â€
Who will save these poor innocent people from their â€œnewâ€ pain?
Fortunately, there arose a savior from the heartland of America. A man who could do more than just â€œfeel your pain,â€ he could give a really great speech. This confidant young man called himself Barack Obama, better known as, â€œThe One we have been waiting for.â€
For the sake of the American dream, and Affordable Housing, â€œThe One,â€ decided it best to bailout those poor innocent â€œforeclosedâ€ souls on the backs of the honest, responsible, hardworking and â€œtrulyâ€ privileged homeowners.
Will â€œThe Oneâ€ be able to carry out his plan, or will the privileged homeowners find a savior of their own?
Whatever happened to the good old days?