Tuesday, December 09, 2008

The New Face of Foreclosure


Just when I thought the news out of Charlotte couldn’t get any worse. Fantasia Barrino is about to lose one of her homes. Yes!!! I said one of her homes. Who knew she was balling like that!!! Apparently the $1.3 Million, 6,232 square foot home is going to get the BIG “F” if she doesn’t start making payments. I have never owned anything that expensive so I don’t know what she should do about making those payments. I guess she could sell more records but at those prices she would have to put a record out every 6 months or have a monster hit. I mean a monster hit…..like The Fugees 2nd Album. You don’t see Lauryn Hill beggin for food do you??? Like I previously said she owns a second home. She owns a $740,000, 4,572 square foot home. I personally don’t know why a single mother with one child would leave a 4,572 square foot home for a 6,232 square foot home? It would have been cheaper for her to add on. I guess 3 ½ baths just doesn’t do the trick like 5 ½. This is going to be debated on television and at the barber shops as a case of financial irresponsibility. People against homeowner bailouts are going to use this as an example for their cause. Fantasia’s financial dilemma shouldn’t take away from the many people that need help saving their homes. Many good people were given loans that they were not eligible for. They didn’t know how the mortgage industry worked so they left all the details up to the professionals. People were given Arm Loans with the hopes of the economy staying strong. Well as we have just found out, we have been in a recession since 2007. Fantasia is going to be alright in the end. She will though, be the butt of occasional jokes and negative talk on the internet. The individuals that won’t be alright are the ones that do not have a second home to go to.

3 comments:

joshua said...

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.


Sharon

http://www.autoloans101.info

the uppity negro said...

that title made me hoot!!!

but, um, yeah, that's part of the problem in this country. I think what we're seeing now is anti-capitalism. Okay, yeah, it's going to be lopsided, but it's shady dealings and underhanded stuff that makes this country so uber-lopsided when it comes to the distribution of wealth.

Aint no way in hell homegirl needed to buy such a big ass second home. She coulda had a little condo and called it a day. Truthfully, she's aiding and a betting the mortgage crisis in this country. Now I'm not accusing Fantasia of earning her money in nefarious ways, but still, why do we in America have to be so ostentatious with our ish?!?!?

I think we're beginning to see the fall of capitalism. Honestly, if we were really to see another Great Depression, (which I kind of thought was impossible, but I've started to read and research and some are saying we're not as depression proof as we thought. But, the national unemployment rate was at 25% and we're still at 6.5%, soooo...you do the math) I think we'd really begin to see disillusionment in our society crumble. I don't know what that would really look like, but hell, I don't want to see.

So in the mean time, get rid of what you don't need, it's really not a cute look.

I know I rambled, forgive me, lol.

Citizen Ojo said...

Joshua - thanks, and please come again.

Uppity - you should see the picture of her first home. If she thinks that's a small house my house is a hut. Glad to see you are still fired up!!!