Bye Bye Banks and Wall Street

[innerSpaceman]

To answer Wendy, I own my condo. I don't care if property values take a dive, because I'm not looking to sell, nor am I looking to take out a home equity loan.

For that matter, I won't need a car loan for a few years.


This month, between art framing and a fabulous Halloween party, I'm going a lot deeper into credit card debt. But I'm finally out of IRS debt.


I have no savings and I have no investments.


All in all, I'm about the most non-affected person in America. Oh, and my job only gets more secure as the economy worsens and everone starts suing everyone else for the money owed.

[bewitched]

Originally Posted by BarTopDancer

Does whatever bailout they are proposing have any help for people who didn't fvck up and take on more debt then they could afford?

Or are us people who didn't get in over their heads expected to hold on for the dive.

That's about the long and short of it. My house was entirely affordable prior to my (almost but not quite yet) divorce. It is still barely (with child support and spousal support) affordable; but I've had to make cutbacks. Do I get any relief? Does anyone want to cut me a deal? Nope.

Thankfully, my mortgage is held by a smaller, local bank and they have been willing to work with me when I've had money flow problems (like when I had to replace my furnace, air conditioner and water heater-- all within about 6 weeks of each other.)

Originally Posted by innerSpaceman

All in all, I'm about the most non-affected person in America. Oh, and my job only gets more secure as the economy worsens and everone starts suing everyone else for the money owed.

Luckily, my not quite ex is a lawyer too so I feel pretty secure about what I have. In good times, and especially bad, lawyers are ALWAYS in demand.