Saturday, August 14, 2010


Made your mortgage payment on time this month? Kept your property taxes current, and your homeowners insurance?
Now you will get to help make mortgage payments, insurance and property tax payments for some of your less financially able and/or financially irresponsible neighbors in Indiana and a number of other states, thanks to the 3-billion dollar largess from the Treasury Department and the Department of Housing and Urban Renewal. (Note: no congressional approved needed.)
Indiana ranks 16th nationwide in home foreclosures with 10.1 unemployed, according to government statistics. We're getting 83-million to help carry unemployed homeowners for two years - mortgage, insurance and taxes included.
You would assume the 3-billion would be parceled out to the states with highest unemployment and biggest foreclosure rates. Well, government bean counters have a slightly different scale for doling out the funds.
California and Florida are getting big shares. That's to be expected. Georgia is near the top of the list at number eight for home foreclosures. It will get 126-million.
But then there is Mississippi, which is way down the home foreclosure list at 47th, and its getting a whopping 120-million, a whole lot more than Indiana and nearly as much as Georgia.
Same for the lucky deadbeat mortgage payers in North Carolina. The Tar Heel state ranks 32nd in forecloses - Butttttt!!! It will get 120,874,221.
The Treasury Department and HUD insist population and unemployment were major factors in determining where the money goes. Well, in that case, Indiana should certainly have received more than Mississippi. The Hoosier state has nearly three times more residents than Mississippi.
Oh! And oops! Nevada, with the nation's highest unemployment and foreclose rate is getting a piddly 47,000,000. Better take note, Senator Reid.
Still, that is better than Arizona, with an unemployment rate hovering just under ten percent. Arizona gets zilch, nada, nothing.
Is a little pre-election politics being played here with this latest government handout? You make the call.
Incidentally, this is more money the government does not have. It's broke. Has been for some time. So, the numbers for the national debt keep rolling higher.

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