CNN iReport

I have heard many people wanting to blame the American Citizen Home owners for this economic crisis. From over seas to our own government, and the American citizens, themselves. I know why the American citizens blame themselves, the ones that do, because they dont' know truly what's going on. Most people who say this are either covering up for, or are unaware of the corruption in our system of banking in the world. The main people in the banking system knew what they were going to do to us. They are the ones at fault, completely.

I just finished building a new home from ground up. My husband and I built it. We did most of the work to save $$. After all was said and done, our profit at the time of closing was around $80000 from the loan to the apraisal. Now, today I don't know how much of that is gone.(The profit) but I do know that for every foreclosure in my neighborhood my value keeps going down. Not that I worry about it right now cause I'm not planning on moving for a while. With uncertain times though, you never know. This home is my 2nd home that I've owned. The 1st I had gotten a flexible rate loan which gave me a smaller payment at the beginning of the loan. I lived there for 10 years and my payment went up over a $100 per month. I knew times were getting bad when I moved and even though interest rates were going down I decided on fixing my rate in my 2nd loan because if or when interest goes up and it always does. You wouldn't know at the time if you were in a position to handle the increase in the loan. This is part of the problem most of these loans are from 1st time buyers and don't really understand the loan that they're getting themselves into. This is happening all over the world by mortgage and banking corporations. Now I know the prices of interest aren't high right now but it will get way too high, soon enough. Not only do these bankers know that, they dangled these low payments that can be adjusted a lot higher to people that had allowed the mortgage people to 'work the loan' so the people could get the loan. Most bank loans you have to have so much down and pretty good credit, but going through a mortgage company, paying average of 7% of the loan tacked on the back of the loan, almost anyone can be approved for it.

People say the middle class lives out side their means, sometimes they do, but most of the middle class can afford a home. The middle class has been told by all the "intelligent" people in our government, Wall St., and Mortgage Bankers, that buying a home was the BEST INVESTMENT YOU CAN MAKE. Land always goes up in value. When was the last time someone could afford a lot on a lake or an ocean? So I invest in some land. Put my money somewhere it can be guarranteed to appreciate, not depreciate. Sounds like a smart thing to do, so albet, many, many middle class people did. Plus, it's a dream to own your own home in America. When you feel the time is right, you do it.

The Bankers have been around a while now. They have seen and knew the values of land was bloated, they made it that way. Thomas Jefferson, one of our founding fathers , wrote that by bankers getting control of our money, instead of our gov't, they could/would, by inflation, then by deflation, kick us off the very land that your grandfathers and great-grandfathers conquered. Now that they have trapped us in these over bloated priced homes by not giving loans to business's causing them to go under and laying off their employees. Making the employees not be able to afford the homes they bought causing more foreclosures, causing homes around it to depreciate. MY home as well as yours. Whether you were well in your means or holding your head above water. When your payment is $1000 a month and your house is worth $30000-150,000 less than you bought it for you become stuck. If you lose your job your house wont sell you either foreclose bankrupt or swim. I bought, within my means, but I also live in Michigan by many GM plants, if GM goes this town will be a ghost town. Will my business stay afloat only time will tell, but I have not lived above my means. If my successful business fails it won't be any fault of mine. It will be the fault of the bankers, who have been planning this assault upon us since 1913 when they got their foot in the door of making "OUR" money for us in the federal reserve.