Sadly, this rings so true. A few years ago, the Chinese government was quoted as saying "In China, the government owns the businesses, in the United States, business owns the government." The impossible and designed to discourage red tape you describe is exactly the same experience I had last year applying for financial aid at the $54,500 a year college my youngest son attends (and which I also attended as did my oldest son.) Colleges make it easy on themselves by outsourcing the entire process, but at the end of the day, after sending years worth of tax returns and net worth statements, etc. I was told, despite being unemployed, I earn too much money (from where?) to qualify. So I mortgage my own future by digging into IRA's and paying the bills from dwindling savings. I'm happy to do this for my son, but I will certainly think twice, if at all, the next time I get solicited by the Alumni Fund. I write this knowing that I am among the fortunate, that in the words of a guy I used to counsel in a drug treatment program in New York, "man, you got rich man's problems." Add to this my growing sense of alarm and doom with the environmental issues we face [and by all means everyone should see The Age of Stupid] and my anxiety quotient goes from Worry to Despair to Heartsick for my children. We are all taught that we will/should live "better" lives than our parents, but I know I will never live the life of luxury and ease I did as a child. I am learning to redefine the basis of "better" and that is a blessing. I know my own sons have different measures of how they want to live their lives than I did. But will the world give them the chance?
hardaway
· 2 months ago
I know. Rich man's problems. But it is really hard to keep adjusting one's expectations down and down after being sold such a bill of goods by the country about upward mobility. I was a foster parent, and I think I sold my foster kids the same bill of goods.
Shamrock
· 2 months ago
I'm having similar problems because I have a VA loan. I couldn't refinance because I am upside down. At this point I'm looking into short selling. I heard it could take months to even get an approval.
Lokela
· 2 months ago
You are so right! I am trying to refinance my home in Phoenix. Long story short - I have had so much trouble over the past 90 days that I am wondering if I should stop payments on my home until I get their attention, and then go for a mortgage modification. I don't know if this is the right thing to do, and I know this will hit my credit score, which has been over 750 for many years. But I have also taken a hit on my standard of living and my house is more than $125,000 upside down. I am also a (former) member of the middle class who is now struggling. I just found out that my company is closing down and laying everyone off! I haven't seen Michael Moore's movie yet - maybe I'll go see it today. I'm pissed!
All Comments
The impossible and designed to discourage red tape you describe is exactly the same experience I had last year applying for financial aid at the $54,500 a year college my youngest son attends (and which I also attended as did my oldest son.) Colleges make it easy on themselves by outsourcing the entire process, but at the end of the day, after sending years worth of tax returns and net worth statements, etc. I was told, despite being unemployed, I earn too much money (from where?) to qualify. So I mortgage my own future by digging into IRA's and paying the bills from dwindling savings. I'm happy to do this for my son, but I will certainly think twice, if at all, the next time I get solicited by the Alumni Fund. I write this knowing that I am among the fortunate, that in the words of a guy I used to counsel in a drug treatment program in New York, "man, you got rich man's problems." Add to this my growing sense of alarm and doom with the environmental issues we face [and by all means everyone should see The Age of Stupid] and my anxiety quotient goes from Worry to Despair to Heartsick for my children. We are all taught that we will/should live "better" lives than our parents, but I know I will never live the life of luxury and ease I did as a child. I am learning to redefine the basis of "better" and that is a blessing. I know my own sons have different measures of how they want to live their lives than I did. But will the world give them the chance?
I am trying to refinance my home in Phoenix. Long story short - I have had so much trouble over the past 90 days that I am wondering if I should stop payments on my home until I get their attention, and then go for a mortgage modification. I don't know if this is the right thing to do, and I know this will hit my credit score, which has been over 750 for many years. But I have also taken a hit on my standard of living and my house is more than $125,000 upside down.
I am also a (former) member of the middle class who is now struggling. I just found out that my company is closing down and laying everyone off!
I haven't seen Michael Moore's movie yet - maybe I'll go see it today.
I'm pissed!