PMI

No, not PMS, PMI – that mortgage insurance that you are required to purchase if you don’t put a 20% deposit down when you buy a house.  As I listen to the reports of the government wanting to bail out all the people whose homes are in forclosure, I have to ask – Where is the PMI?

These homes are not in foreclosure because people put down large deposits, but lost their jobs and can’t make the payments.  No, these are loans for homes that people couldn’t afford in the first place, put very little or no money down, had an adjustable rate mortgage that has now come due.  But, they would have also had to purchase PMI – the insurance for the mortgage company in case you foreclose.

So these folks are in foreclosure, but why isn’t the company that collected the PMI covering the mortgage?  Why are the tax payers once again, coughing up funds for people who don’t plan?

Fox news reported that the median home price of these forclosed homes is about $700,000 – WHAT????  We scrimp, clip coupons, shop garage sales to live comfortably (in our $90,000 home).  WHY should we have to bail these 1)Financial Institutions who loaned money to people they knew couldn’t repay and 2)People who bought houses they knew they couldn’t afford – out? 

Who has the PMI money?  That’s what I want to know!

Camping

Well, noted for all, I have survived the camping trip.  I am not a camper, but Steve’s family has a wonderful family reunion every year that takes place on his Grampa Sutton’s farm.  Everyone gets together and camps.  It is fun to laugh and talk and catch-up with family members.  The bad part is: bugs, bad weather, and port-a-potties.   God did smile on us this year with INCREDIBLE weather.  Not too hot or cold, no rain, so I felt blessed.  Port – a – potties….after 4 days…..enough said.   The bugs were the bummer this year.  Our children were eaten alive – even when we were able to catch the kids long enough to spray ‘em down.  (I think a few children may have been carried off by mosquitoes, but that has not been confirmed).

Spencer’s first goal at arrival was to run into the woods as Steve and I unpacked.  I called him back immediately, but too late, his face and neck looked like he had chicken pox.  Throughout our days, larger welts would spring up, and Benydryl has kept him somewhat comfortable.

This morning as he rolled out of bed, his face looked as if he had scratched it all night.  Red and swollen.  As we began our morning devotions, it dawned on me.  Dragging him to the bathroom, for better light, I knew what it was.  “Oh, no Spencer, look!” I said. 

“Don’t be concerned, Mom,” he informed me,”all teenagers go through this.”

“It’s not acne, it’s poison ivy!”  I retorted.  We are off to see Dr. Rusk shortly.

GAS

Do you remember the gas crisis in the 70’s??  We were told to car pool, slow down, don’t drive unless necessary.    WHERE IS THAT???   Does car pool only exist so you can drive in the special lane on the big highways???    I have this cool little feature on our van that shows my average mpg.  I have found that if I drive around 35 – 40 miles per hour.  i get MUCH better mileage.  It’s gotten to be kind of a game.  I coast to stoplights (my best coast got me 70 mpg), but am much more mindful of my accelerations, as well.

How about, instead of complaining about the rising fuel costs and asking the Government ot fix it – lets take on the responsibility ourselves and learn to CONSERVE (yikes – haven’t heard that in a long time – AND personal responsibility – all in one sentence – that should ruffle some feather!)

Recession???

We went to the mall Thursday night.  The boys LOVE to walk around, go to the fountain, walk through the Disney store and go to the bookstore.  It’s like a museum, we can look, but we are not taking anything home.  They do wonderfully until we get to the bookstore.  They pick out books and sit in the chairs and read.  I always kinda felt like that was wrong, as you are supposed to BUY the books, but the B&N employee said they encourage the kids to come in and read the books.  Our problem is the leaving part.  They never want to leave, especially leaving all those books behind.  I admit, i would love to go through and take home a few books myself.  We love of the library, but B&N is so BRIGHT and COLORFUL and the books are all NEW (don’t know how they keep them that way, encouraging kids to read them – oh yeah, then they get started and have to take the book home…..good strategy!)

My point of this particular writing, though is this:  I keep hearing people complaining about the economy, but as we sat on the bench by the fountain, i was watching the people go by.  SOOO many girls and women carrying purses that cost well over $100 each.  SOOO many people wearing shoes that cost over $100 each.  I LOVE purses, so I know what they cost.  I have a son addicted to shoes, so I know what these items cost.  Sorry, I am still having a hard time swallowing the whole “Our economy is in the toilet” thing.  I think America’s taste’s have gotten expensive and they have hit their credit card limit, maxed out their equity loans and now can’t afford the luxuries.  (which are considered necessities).

Where is the day when your first car was a BEATER.  Your friends heard it coming a mile a way.  Sometimes they would all have to push you to the side of the road….Your first apartment had hand-me down furniture (mis-matched), your shelves were boards on cinder blocks, your T.V. was a big old console that had a strange line running through it?  Am I revealing my age?

Maybe, Americans, we would have more in our pockets if we quit buying everything for our kids.  Maybe it would be better for THEM if they had to earn it themselves.  WITHOUT credit cards! 

My opionion is that we have raised a generation of kids who think Brand Names and NEW every year are necessities – even if you can’t pay cash.  And we are on that band wagon too.   My blessing is that I find brand names at garage sales.  Sure, the quality is better when purchasing kids clothes, but I cannot go to a store and pay full price.  i start to hyper-ventilate from the sticker shock.  Our economy cannot be too bad, if folks will pay $25 for a kids shirt,  $100 for a pair of jeans, unlimited amounts for jewelry…..they may not be buying as much right now, but they are still buying.

the challenge

Saturday morning, as we set out to run errands, Stve noticed a BOLT stuck in our tire.  It was a biggie.  Obviously picked up at work.  We took it over to Discount Tire.  One tire $136,  plus warranties total $196.  It’s my first debt free challenge.  I went to my ebay store, and put everything on sale 20% – gotta recoup.  (No credit cards – took it out of our money for bills this month YIKES!)