My title sounds odd, but my story illustrates its suitability. The U.S. Army assigned me here in 2006. I purchased a home and made a hefty down payment. Then the federal government’s Freddie Mac and Fannie May facilitated housing crisis began.
Because of my hefty down payment, and paying my mortgage for six years, I was able to stay above water. The value of my home was more than what I owed. Then last week I received the 2012 Pierce County Real Property Value Notice.
Bam! I was under water. Me, who has not ever missed a mortgage payment, utility bill, auto loan or insurance premium.
I wanted to stand on my sidewalk and scream, “I’ve been robbed the last six years. Call the police, round up the scoundrels and bring them to justice.” But there was no call, No one came to my aid. I had quietly lost many thousands of dollars over six years, and I couldn’t point a finger at one person.
Not to overgeneralize, but there were a ton of financially reckless people with shaky employment and bad credit living beyond their means. When they abandoned their mortgages, they caused the value of my property to plummet many tens of thousands of dollars. They have a host of tax-funded government program to help them, but there is no program for me.
Someone destroyed my home’s value, and now I am paying for their assistance programs.