The problem of a fiscally responsible homeowner

Maybe it’s just me, but I’m feeling very frustrated of late. It is the talk of the tax credits and benefits for new home buyers and those facing foreclosure. I just can’t help but be annoyed.

As a homeowner, I am listening to how the Government wants to give so much money to people who over-extended themselves. They want to make it so easy for people buying a new house. And those are good things. But for those of us with a home and paying our mortgage, well we just are being ignored.

There is no benefit to me for paying my mortgage on time. I get no accolade, nor tax break or credit beyond whatever has already existed. Yet I too am suffering. Maybe not as much as those that made bad decisions, or came upon unforeseeable problems. Still this economy is no joyride.

The Obama Administration wants to give a $15,000 tax credit to new home buyers. Those in default or foreclosure get to re-negotiate they mortgages, and/or Government aide. That’s a huge amount of money, individually or as a group. Yet because I am fiscally sound, because I made decisions that would provide me the ability to pay my obligations as I agreed to, I am effectively penalized.

The penalty is not just that I receive no benefit from the Government or via my mortgage. The money that has been spent, and will be spent in the near future, is money that will have to be repaid via taxes. That’s coming out of my pocket. Add to that the fact that since I have no adjustment, and I will have to be paying for what others are receiving for bad decisions I am effectively paying their mortgage and my own.

If I wanted to own another house, I would have bought one. But what I am getting is my home, and another place that I have never seen, cannot live in, and gain no benefit from. It’s almost as if the Government is saying

“You have a nice house. This family will be moving in with you. Oh, and you will pay them to do it. Thank you for being reliable and fiscally sound.”

But maybe it’s just me. Though I imagine that anyone that is renting would be even more upset as they don’t even have the benefit of a home, yet they are paying for someone else’s in spades.

So how do you feel about this?