Real tragedy from this financial mess

Just what I was afraid of: taking the tragic way out of a situation when there are alternatives.

http://www.foxnews.com/story/0,2933,433725,00.html

The financial state of our economy as well as the personal debt of many American citizens has led to the second suicide related story of the week.

The details of this story are really not important.
The fact remains that many Americans have too much pride to “suck it up” and get things done.

Is the debt of the American public so bad, that the alternative to paying it down is suicide?

I have personally known and personally know the trials and tribulations of living within your means. I know what its like to HAVE to live this way because of stupid financial decisions. However, I have had to pick my life up and be responsible for what Ive inflicted upon my wallet and credit score. And rebuilding is long and hard.

The best feeling in the world is being able to say: I am debt free and living within my means.

 

Not everyone SHOULD own a home

I do not know Janet Albrechtsen of the Wall Street Journal, but I like the way she thinks.  http://online.wsj.com/article/SB122325772150706655.html#printMode

Not everyone SHOULD own a home.
As Janet points out, maybe only a foreigner could say this…but I am an American, and I tend to agree with this statement wholeheartedly.

Citizens need to start learning to live within their means. If this means you can only afford an apartment, so be it.

When I was 6, President Jimmy Carter signed the Community Investment Act. This allowed banks to give loans to low income people.

Maybe we should ask these people if they were educated enough to know what they were signing.

Here’s something else: Refinancing your mortgage to get a better interest rate or consolidate loans? Was your homes “worth” inflated?

There are so many homes for sale – and so many homes being taken off the market because they cant get the asking price. Homeowners cant sell their homes for less than they have “invested” in them due to personal debt.

Now, does anyone else see where our troubles lie?

 

What do you make of this?

Please read the article linked in the title. http://www.cnn.com/2008/US/10/03/eviction.suicide.attempt/index.html?eref=rss_topstories

I am not sure what to think about this story. Normally, Ill read something and have a definate “take” on it. This story is different.

Short version:
Ms Polk, who is 90, decided to ignore foreclosure proceedings. She ignored visits to her home with the exception of removing notes left from the deputies trying to serve her the eviction notice.

Deputies attempted to communicate with Ms Polk at least 30 times with no luck.
Apparently, a neighbor climbed into a second story window and found that Ms Polk had shot herself twice in the chest.

Friday, Fannie May decided to “forgive” her loan, and gave her the house outright-stating it was “the least they could do, given the circumstances”.

My take:
I feel for this woman who chose to attempt to end her life instead of finding some type of program to help her.

My problem is that Ms Polk has been mentioned by Dennis Kucinich. If others have issues such as Ms Polk, will they attempt the same way out? Will mortgage companies keep forgiving loans if people attempt suicide?