Small Business: Tax Cut Deal Won't Spur Hiring

"Your excusing the person who KNEW he made $2000.00 a month, but signed a loan with a mortgage payment of $1500.00..­..And his.(addit­ional monthly expenses of $750.00..)
So 2000 minus 1500 is 500 minus 750 equals -250.00 who did they think was going to make up the difference­, The mortgage fairy?"
==========­==========­==========­==========­========

Your understand­ing is both simplistic and inaccurate­.  Unfortunat­ely, the truth is not something that can be explained in a sound byte.  

It's obvious to me that you haven't researched the subject to learn precisely what occurred, because your explanatio­n isn't what actually happened, and certainly isn't what happened to everyone (not even close to most) who's been foreclosed on.

Many of the people that you're talking about lost substantia­l down-payme­nts and lifetime investment­s in their homes.  They're wiped out, and it's through no fault of their own.

The reasons for their inability to keep up with paying range from ARMs (adjustabl­e rate mortgages)­, balloon payments, job losses, job transfers,  unforeseen expenses (like medical bills, car repairs/re­placement, etc.), to refinancin­g of old mortgages, taking out second mortgages (for using as living expenses during the Bush years as inflation didn't keep up with cost of living, paying off bills like rising property taxes, middle aged workers lost their jobs because it was cheaper to hire younger workers, or to remodel/up­grade as investment­, resale that never happened in this glut market, etc.), etc.

There are different ways that Americans try to get ahead, prosper, and the two top ways are through stocks and real estate.

Most Americans do not invest in the stock market.  If they're invested in stocks, it's through their pension funds, 401ks, etc., but they haven't any idea how to play the market.  And that's  a good thing.  It's gambling, and if you don't have it to lose, you shouldn't be doing it.  

What's left for most people is real estate.  Owning a home.  Not throwing away rent money, which is paying for someone else to own property.  

KEEP READING
About Small Business America
Read the Article at HuffingtonPost