Letter: Feeling foolish for paying mortgage
For some homeowners, an adjustable-rate mortgage can be a financially savvy choice. Credit: Photos.com
I couldn't agree more with "Feeling foolish for paying mortgage" [Letters, Feb. 19 ]. I question myself daily, asking what I've done wrong for doing everything right. Both the government and, in turn, the banks have assisted many for failing in their personal due diligence.
Getting in "over your head" has been rewarded with various assistance programs and nearly free housing for those who have fallen on hard times or just simply refused to play by the rules of financial responsibility.
The question remains: What's available for those who keep up their payments? Barely staying ahead, but managing to pay, gets you nothing. It seems that if you earn a paycheck, pay your bills on time and are current on your mortgage, nobody will entertain your inquiry. Why wait until a person falls behind?
I'm baffled that so many like myself are being financially punished for the wrong reasons. The responsible, secure, employed and current bill payers could use a break too. It's time to reconsider the financial priorities and offer assistance to all citizens. Think about a no-charge refinancing to lower interest rates, reassessments that reduce the mortgage balance or other creative programs for those who deserve it. This just might provide spending money to spark our continually struggling economy. I guess I'm a fool for meeting my financial commitments.
Neil Katz
Nesconset
