Bodycomb Rants and Raves

I recently ran across this article in the AJC about a foreclosure on a house that had been on the TV Show Extreme Makeover. To be on the show the owners were given $100k and their mortgage was paid off. So, how is it possible that they are now in foreclosure?
Well, the owners used their house as an ATM machine and took out $450,000. Real smart.

Lake City mayor Willie Oswalt was among the volunteers who helped build Harper’s home 3 1/2 years ago, and Beazer Homes was the main sponsor. The mayor told WSB he is baffled.
“Beazer gave them $100,000 cash, paid their mortgage off and they still can’t make it,” said Oswalt.

This story, and the many others that are in the news today, make me wonder about the responsibility that people have in regard to their own financial situation. And now the Federal Government is providing taxpayer dollars to privately owned companies (Bear Stearns, Freddie Mac, Fannie Mae) in order to prevent these banks from collapsing.

Here is a great opinion piece from the NY Sun.
This County isn’t about what you know…. it is about who you know.

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