What the hell is going on in my country?

I was watching the evening news on Fox last night when they broadcast a segment on 'mortgage modifications' in California.. I have been curious how mortgages can be 'modified' by two-thirds or more and still pay off the mortgage without getting into my pocket - so I watched.

I damned near fell out of my chair when these couple of lines came up:

"People are able to come here, and in the same day, restructure their mortgages saving $500, sometimes over $1,000 a month," says NACA's charismatic leader, Bruce Marks.

We saw another homeowner, Althena Peet, actually embrace her lending counselor, tears streaming down her face. "My monthly payments were $1,888 per month, and its down now to $687.64. That's with 2 percent interest. I just can't believe it," Peet exclaimed.

While Althena gets a great deal, another homeowner with the exact same mortgage who paid his bills would be shelling out that $1,888 a month, leaving some to question whether such foreclosure rescues are fair, or wise.

Among those with concerns is professor Paul Habibi with UCLA’s Anderson School of Management. "It's not fair," he says. "It penalizes those who play by the rules, and those who are in dire need and may have not played by the rules and got into mortgages they can't afford, are now able to get some help. It's kind of the old adage of taxing success and subsidizing losses. We are seeing that prevail in the housing market."

Say what? Since I was still having trouble grasping the mechanics of this 'modification' process and the article really didn't get into any detail --- I clicked over to the comments --- a couple of them explained the workings -- and that sounded even scarier... but then, one of the commenters also threw in the 'Membership Pledge' in NACA that home owners must sign to be eligible....

I'm here to tell you, these NACA folks make ACORN look like the Baptist Church... Naw, that ain't fair to the Baptists. Let's just say it looks like ACORN with a new mask on it's face! I won't belabor the issue -- I'll link those of you who care to the main article, and after you have finished scanning it - I suggest you Link on to the 'Comments' at the top and scan thru a few of those ----

The new slogan in this country is soon gonna be "Following the rules - is just for fools!"

Go here for the Fox Article.