Did You Know...


Hey, lady, your $800,000 house is NOT my problem

By Michelle Malkin  •  February 23, 2009 11:42 AM

Repeat after me: Property value-preservation is not a civil right.

Craig Meister at the Examiner.com points me to this typical CNN sob story clip of a bus driver named Minta Garcia who is demanding that President Obama halt all foreclosures. She’s underwater on an $800,000 home.

Embedded video from CNN Video

From the transcript:

ACOSTA: Like countless other Americans, Garcia admits she and her husband bought more house than they could afford, but she says the lender made the purchase all too easy. Now her mortgage is worth more than her house.

(on camera): How much was the house when you bought it?

GARCIA: Eight hundred.

ACOSTA: Eight hundred thousand dollars?. And how much is the house worth?

GARCIA: Right now, it’s like $675,000 on the market.

Tell you what, Mrs. Garcia. We’ll help you out with your bad financial investment when you agree to help the rest of us make up for our stock portfolio losses.

Cry me a river.

Posted in: Subprime crisis