Need More Stress in Your Life?

So let’s say you wake up one morning and it hits you, you just don’t have enough stress and anxiety in your life. What to do. What to do. Answer? Try buying a house.

We did. And all indications are the deal has fallen through. Why, you ask? Because we made the mistake of thinking all the people involved were born and raised on planet earth. Not true.

A few things became clear to me as we went through this process. First, I am convinced that banks are purposely keeping the housing market in bad shape so they can blame it on the badly needed financial regulations that recently went into law. The bank’s will whine and say, Hey, the regulations did it. They pour funds into the pockets of those in congress, primarily Republicans it seems, and they hope and pray, congress will undue the regulations (which would be an utter disaster) so they could go back to gouging and ripping off people left and right and lead us down the path to yet another recession.

We heard of one instance where a fellow wanted to buy a house for $200,000. His annual salary is in comfortable excess of $100,000 and he had $80,000 to put down. He was denied because three years earlier his ex-wife missed two mortgage payments on a house they’d owned. My closest friend Michael is a Marine who lost his legs in Vietnam. His bank records clearly show the disability money coming in from the VA. Didn’t matter. The bank still asked him to produce documentation proving he’s a disable vet.

And then, of course, there are the bizarre and, some might say, predatory policies of a number of banks. For example, let’s say your credit score is 659, not too bad. And the bank tells you as long as the credit score is 640 or above, they’re happy. So you sit back in your easy chair, take a sip of coffee or tea, and allow yourself to feel good. Not so fast. The bank applies its algorithm which automatically takes 20 points off your credit score. You be under 640.

At least now I know the word algorithm is Latin for We’re gonna rip you off!

Like I said, looking to add some stress in your life? Try buying a house.