Rich Get Richer
July 28, 2016 at 4:25 p.m.
By -
Editor, Times-Union:
I'm writing mainly to vent. I'm sure there are plenty of families in the same situation.
Through 2007 to 2008 my wife and I have satisfied all our debt on our credit report. Although they have been paid, they still remain on my credit report. Most if not all debt satisfied will not be removed from my report until 2012.
I bought our house in 2003 for a very good price, although the windows were boarded up (because of vandals), no running water, faulty wiring, ruptured pipes and a 20-year-old furnace that needed a new computer board, the furnace was refurbished to working condition - it still has many problems.
With my own two hands I made a very nice place to live for my family.
The end of August 2009 we tried to refinance in order to reduce our monthly payments and install a new furnace. (As I said the furnace we have now is on its last leg and may not make it through the winter.) On Nov. 20, 2009, we were turned down due to lack of comparables. It took more than 90 days to turn us down.
Due to having to have back surgery, our finances have been impossible to keep up with.
I feel like the government and lending institutions are blowing smoke up our butts, because there is no relief out there for struggling families. Your credit has to be spotless. I was just wondering if you had any ideas.
I am a cancer survivor and currently recovering from back surgery. It's been a hard road taking care of debt while fighting cancer and for what? It's no wonder so many are turning to bankruptcy.
I have a lot to say about Wall Street and this recession, although unprintable, I'm sure I'm not the only one. As usual the rich get richer, but now the poor only get kicked out of their homes. Thank you for reading my letter.
John W. Malott
Silver Lake[[In-content Ad]]
Editor, Times-Union:
I'm writing mainly to vent. I'm sure there are plenty of families in the same situation.
Through 2007 to 2008 my wife and I have satisfied all our debt on our credit report. Although they have been paid, they still remain on my credit report. Most if not all debt satisfied will not be removed from my report until 2012.
I bought our house in 2003 for a very good price, although the windows were boarded up (because of vandals), no running water, faulty wiring, ruptured pipes and a 20-year-old furnace that needed a new computer board, the furnace was refurbished to working condition - it still has many problems.
With my own two hands I made a very nice place to live for my family.
The end of August 2009 we tried to refinance in order to reduce our monthly payments and install a new furnace. (As I said the furnace we have now is on its last leg and may not make it through the winter.) On Nov. 20, 2009, we were turned down due to lack of comparables. It took more than 90 days to turn us down.
Due to having to have back surgery, our finances have been impossible to keep up with.
I feel like the government and lending institutions are blowing smoke up our butts, because there is no relief out there for struggling families. Your credit has to be spotless. I was just wondering if you had any ideas.
I am a cancer survivor and currently recovering from back surgery. It's been a hard road taking care of debt while fighting cancer and for what? It's no wonder so many are turning to bankruptcy.
I have a lot to say about Wall Street and this recession, although unprintable, I'm sure I'm not the only one. As usual the rich get richer, but now the poor only get kicked out of their homes. Thank you for reading my letter.
John W. Malott
Silver Lake[[In-content Ad]]
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