Apologetics: ə-pŏl'ə-jĕt'ĭks from the Greek απоλоγία Def: The branch of theology that is concerned with defending or proving the truth of Christian doctrines.

Mortgage Assets

Written By Esthermay Bentley-Goossen on 04 October 2005

Saturday, October 4, 2008

Conversation with my five-year old:

Selah: "Mom, what's a mortgage asset?"

Five years ago, I would have brought this issue into the Kindergarten echelon.
Today, I know how intelligent the girl is.


Me: "Well. . . an asset is something that could be sold to someone to get real money. Like when we make bread for a bake sale. We get dollars for the bread. Our bread is an asset."

Selah: "But what's a mortgage?"

Me: "Sometimes people have to borrow money to buy a house. Houses are expensive. Our house was over $100,000.00! So when the bank gives us money to help us buy the house, then they own our house with us. That's called a mortgage. Sometimes banks sell their mortgages to another banks. They get money and then a new bank owns our house.

The idea that a bank "owns" people's houses is an asset.

~~~**~~~**Long pause**~~**~~~


Selah: Why would we buy a house if we didn't have the money?


Is this profound.? Or what?!

My five-year-old "gets" what the voting majority of both the House and Senate do not.

What would be so bad if -- in this country -- we all went back to the concept that I (and obviously not too many other Americans) learned in 9th grade economics:

You buy a house with 20% down.

I am [not] sorry if I offend anyone reading this, but kids right out of college do NOT need a $200,000.00 home. People who cannot afford a house, should rent one. Let them work and earn the right to borrow 80% of a home's value. What ever happened to the work ethic and Personal Responsibility?


Personal responsibility build our economy. Lack of it will (has) destroyed it.

Only one of the political parties represented in this election even understands the concept of personal responsibility.

The other party has -- at the top of its ticket -- a man who worked for an organization called ACORN, probably one of the silliest and most destructive left-wing groups in existence. Their primary goal is to abolish the capitalistic foundation of our country and eliminate the entire concept of personal responsibility. Google it! Google ACORN.

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