We hear a lot of whining these days from reckless home borrowers and their banks.
But did you know that renters are 32 percent of American households? And that homes in foreclosure are less than 2 percent?
Are you also aware that the clear majority of foreclosures are against people who lied on their loan applications and stated an income much higher than they really had?So why is Congress rushing to bailout high-flying borrowers and their lenders with our tax dollars?
Unfortunately, renters aren't as good at politics as the small minority of homeowners (and their bankers) who are in trouble. They don't have lobbyists in Washington, DC.
Renters don't get a federal tax deduction for rent and they don't get sweetheart government loans.
When renters face difficulties and can't pay their rent, there is no remedy or easy solution waiting for them. Unlike property buyers, renters have no government subsidy or help waiting in the wings.
Why is America more fair to home owners (even liars, speculators and house flippers) than they are to working Americans who can only afford to rent. Those renters could have lied like the sub-prime borrowers, but they chose to lead honest lives instead. Their reward: nothing but a slap in the face from the Bush Administration.
Watch the following video and after, sign the petition to Congress.
WHEREAS: Most Americans rent or own their home outright, and the vast majority of homes (98%) are not in foreclosure.
WHEREAS: Both banks and borrowers should be responsible for their actions, and the government should not reward reckless behavior.
WHEREAS: It is wrong to force all taxpayers-- including renters who are already subsidizing home owners through the tax code-- to pay for additional bailouts for big banks and home flippers.
BE IT RESOLVED: That Congress should not pass any bailout programs that reward risky borrowing and lending. Let the free market sort it out!
If you would like to learn more or sign the petition, please visit AngryRenter.com
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