Mortgage Holiday

I am taking a Mortgage Holiday. I have been making mortgage paymennts for about twenty years, now. Every month, the mortage company is paid in full. They can count on my check. I have the money, don't get me wrong. I am just tired of being a sap.

I just read where the government is going to work with banks to help "serious" homeowners who got caught in the subprime mess pay or extend their mortgage. In some cases, those stuck with A.R.M.'s will be allowed to extend their payments under the lower interest rate. So, rather being a sap, I am gong to stop my mortgage payments. Why not? Apparently, if you are irresponsible the government will help you. Who knows after missing a few payments, the mortgage company may offer me a lower rate. Why not? I am a very good risk.

Let's get a few things straight, the government has no business getting involved. Once they do, people who do not deserve a break will get it. That is not the government's responsibility. We do not need a means test for subprime mortgage. The lending companies and borrowers are perfectly capable of handling the individual cases. If a subprime lender goes under, so be it. The markets are very efficient. The strong borrowers will continue to hold on to their homes. Someone who has a zero down loan is paying rent.

Meanwhile, I am planning my morgage holiday.If you are like me, don't be a sap, take a mortgage holiday. I cannot think of a better way to send a message to the banks and government.