Do you realize your mortgage is currently underwater for one reason?

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And that reason is Fannie Mae and Freddie Mac, the government backing every single loan throughout the entire country, thereby creating a massive housing bubble?

And now the Democrats which created those programs are creating an even bigger collapse by propping up markets (and failing at it at the same time)?

Did you realize the Democrats and their crappy, deregulation of the free market caused this situation?

13 Comments
  1. Reply
    (o)(o)
    February 6, 2011 at 8:50 am

    Oh Yeah, we the people of the TEA PARTY know this

  2. Reply
    Super Atheist to the Rescue
    February 6, 2011 at 8:58 am

    It was actually over-regulation that caused the subprime mess.

  3. Reply
    PIXIE
    February 6, 2011 at 9:29 am

    anyone who actually can think independently knows this.it’s like going to the well with holes in your bucket.

  4. Reply
    Ugly
    February 6, 2011 at 10:12 am

    My mortgage isn’t underwater. My house is worth tens of thousands more than what I paid for it.

  5. Reply
    IceT
    February 6, 2011 at 10:43 am

    You got everything right except for it was the Democrats and their over regulations that caused the situation!

  6. Reply
    The Voice of Reason
    February 6, 2011 at 11:29 am

    What a minute, I thought it was Bush’s fault. You mean that was a lie? Bastards

  7. Reply
    Dave87gn
    February 6, 2011 at 11:52 am

    republican talking points and pure BS

    try to blame this whole collapse on Fannie Mae and Barney Frank

    when its really an intricate scheme devised by wall street to make themselve trillions of dollars

  8. Reply
    Yak Rider
    February 6, 2011 at 12:07 pm

    I put 30% down on my house and make 13 payments per year. My mortgage is nowhere near underwater.

    FHA is the next bubble getting ready to burst. Once Fanny and Freddie went down the drain all the poorly qualified buyers where sent to FHA for their mortgages.

  9. Reply
    Jo
    February 6, 2011 at 12:27 pm

    Super Atheist is not that far off.
    The good old government decided that everyone should own a house regardless of their ability to pay.
    Economics 101 be darned!
    That caused a lot of problems coupled with the banks and the media telling everyone to buy, buy, buy regardless of the price.
    Then we have the stupid people who actually believed all that garbage and did it.
    I have no pity for them.
    It is time for the gullible to suck it up, take their lumps and learn from it.

  10. Reply
    Infernal Disaster
    February 6, 2011 at 1:02 pm

    Fortunately this conservative paid off his mortgage at a young age…..

    ….but then I live within my means and only buy what I know I can afford.

    There are many reasons why the housing market collapsed, some of which you mentioned, but also because people took out mortgages they could not afford.

    Everyone is too blame: Banks, Government and the people.

  11. Reply
    logan
    February 6, 2011 at 1:10 pm

    My mortgage isn’t underwater, for one reason, that would be that I pay my bills and don’t live outside of my means. BTW, I have two mortgages, my home and my cottage and both are worth more then I owe.

    I’ll take a page from the repubs here on Y/A— who cares what caused it, we are here in this situation, let’s concentrate on getting out of it. (ala the Iraq war and the part of the economy that can go on the last administrations shoulders.)

  12. Reply
    Tamiam
    February 6, 2011 at 1:42 pm

    First of all… The Dems had Little to do with the de-regulation this time, so go to school and get yourself a nice education before you spout what your pa told you was the truth.

  13. Reply
    kat_moon77
    February 6, 2011 at 1:56 pm

    my mortgage is underwater because of all the foreclosures in my small little town of 3000. everyone knows that more foreclosures means lower property value. in this town there are already 30 homes either going to be foreclosed on or the bank already repossessed it. it is not all because people lived outside of there means,because we didn’t. it is because all the big businesses that supported our town for decade closed do to the economy and we all lost our jobs. now more of the small businesses that have been here for decades are disappearing too. the banks wont work with us to lower our monthly payment so we can stay. just because we did our loan the right way through a company other than Fannie Mae or Freddie Mac we can’t get any help and my family made up of 2 adults and 3 young children are going to have to loose everything and try to start over. hopefully we can get a place to live with this hanging over our credit. so all you out there that think that it is because of people living outside there means should be ashamed, most of use were just innocent bystanders that got caught in the backlash.

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