Money talk no longer taboo as economy sours

["Kristi Huntington has found herself telling complete strangers that she let two of her houses go into foreclosure in September. I'm not embarrassed because so many people are in the same situation," said Huntington, 25, an accountant from Mesa, Ariz. "The foreclosure rate in Arizona is so high." ]

You, my dear, SHOULD be embarrased. You obviously have the financial acumen of a flea to let not one, but TWO houses go into foreclosure. A significant number of people pouting about the economy put themselves into that position by spending more than they earn, and by buying things that they can't afford. Not everyone, but certainly enough. It's not a badge of honor to be one of a group of fools in Arizona, sweetheart. And I, for one, who got a 30 year fixed mortgage I can actually afford, resent these politicians making me chip in to bail out all the irresponsible folks out there.

People are buckling down, watching their pennies, buying necessities. Kinda like they should have been doing all along...

LAX2 wrote:

["Kristi Huntington has found herself telling complete strangers that she let two of her houses go into foreclosure in September. I'm not embarrassed because so many people are in the same situation," said Huntington, 25, an accountant from Mesa, Ariz. "The foreclosure rate in Arizona is so high." ]
You, my dear, SHOULD be embarrased. You obviously have the financial acumen of a flea to let not one, but TWO houses go into foreclosure. A significant number of people pouting about the economy put themselves into that position by spending more than they earn, and by buying things that they can't afford. Not everyone, but certainly enough. It's not a badge of honor to be one of a group of fools in Arizona, sweetheart. And I, for one, who got a 30 year fixed mortgage I can actually afford, resent these politicians making me chip in to bail out all the irresponsible folks out there.
People are buckling down, watching their pennies, buying necessities. Kinda like they should have been doing all along...

A mortgage you can afford may not be enough these days. What happens if, due to a sour economy, the company you work for or the business you own, loses most of it's customers? All of a sudden, the company you work for can no longer afford to pay you. Or the business you own can no longer make ends meet. It will happen to many, whether you were part of the problem or just an innocent victim.

LAX2 wrote:

["Kristi Huntington has found herself telling complete strangers that she let two of her houses go into foreclosure in September. I'm not embarrassed because so many people are in the same situation," said Huntington, 25, an accountant from Mesa, Ariz. "The foreclosure rate in Arizona is so high." ]
You, my dear, SHOULD be embarrased. You obviously have the financial acumen of a flea to let not one, but TWO houses go into foreclosure. A significant number of people pouting about the economy put themselves into that position by spending more than they earn, and by buying things that they can't afford. Not everyone, but certainly enough. It's not a badge of honor to be one of a group of fools in Arizona, sweetheart. And I, for one, who got a 30 year fixed mortgage I can actually afford, resent these politicians making me chip in to bail out all the irresponsible folks out there.
People are buckling down, watching their pennies, buying necessities. Kinda like they should have been doing all along...

Maybe you should find out the entire story before you cast your stones at people and their financial situations. Did she say she wears a badge of honor that she lost her houses? Pretty sure that's not what the article said. There are plenty of us out there right now that didn't make the smartest financial decisions. We live and learn and move on with our lives. The next time that you and your all-knowing self makes a mistake, I hope there is someone to shove it in your face.

Just what I thought, CKE. Those of you who "didn't make the smartest financial descisions" want the rest of us to not make a big deal about it. That would be okay if nobody was about to reach in MY POCKET to bail the likes of you out, as the federal government is about to. Methinks thou doth protest too much.

And you see, I don't make mistakes when it comes to my money, my dear. I read the latest financial journals and articles. I research anything and everything exhaustively that I purchase over about $50, pretty much. Most importantly, I don't bite off more than I can chew.

CJH wrote:

<quoted text>
A mortgage you can afford may not be enough these days. What happens if, due to a sour economy, the company you work for or the business you own, loses most of it's customers? All of a sudden, the company you work for can no longer afford to pay you. Or the business you own can no longer make ends meet. It will happen to many, whether you were part of the problem or just an innocent victim.

You are correct. By the grace of God I'm not one of those people. But, those that were part of the problem are negatively affecting the rest of us now, as you state. And that really burns a lot of us up, especially when we're asked to start bailing everyone out on a massive scale.

Let's hope those who deserve it have received the financial "spanking" that was long overdue. And I hope all the innocent victims of all this are able to rebound and get on with their lives very soon.

Well you know, LAX2, might you consider all of the hurt and destruction all of our "fine" investors have put into our digressing economy. You are going to sit here and put a 25 year old down for the fact that she had taken a chance and now she has to pay for it. I, being a man of 67, with his home paid off for years and still making investments.I have been been hurting on losses on a daily basis. I for one can feel for her and her losses. How about you take the time to take it from another perspective? We will all have to deal with the market, so you should take America in hand and not smash this young woman.Take it out on me, being of age and dealing with the same outcome that this young woman has. If you have never made a poor investment, please feel free to comment next.

I have NEVER, ever, made a poor investment. Period, point blank. 41 years old. And if you read my other post you'd know that I have the utmost sympathy for those who deserve it. I stand by my comments about Miss Double Foreclosure. Kudos for her for getting one house, scratching my head about why she would acquire a second one if her situation was already murky...but granted, the whole story is not out there. I've been around and seen a lot, so I'm going from a hunch that I'm willing to bet is pretty dead on.

Nothing personal, but the bleeding hearts out there can contribute to the bailouts. Me and my apparent "cold heart" would like to continue working hard, paying my dues, and not counting on anyone else to shore me up when times get rough. Not saying it won't ever happen, but it's sure up to me to make sure I do all that I can to prevent it.

By the way, "Truth", do you realize that the stock market hit you're taking now on your "investments" is BECAUSE of the irresponsible people flooding the real estate market a few years ago? You should. At your age, best of luck to you if you've got a sizeable amount of money locked up in the market. I have no doubt that you're none too pleased with what's going on. I hope for all of our sake that it rebounds quickly.