Feel Free to Bail – Before You Sink!
Bailouts: Massive cheques written to large corporations who struggled during the recession.
General Motors was kept afloat by money from the American and Canadian governments. But didn’t we suffer during the recession? Thousands of us lost our savings as investment stocks plummeted.
The argument: GM supports whole communities with their manufacturing plants. Cities like Oshawa would become a ghost town without GM. They needed the money to keep those communities alive.
The Rebuttal: What about the families that are supported by one wage earner? Don’t they deserve the same protection offered to the corporations? Don’t they deserve to be looked after?
It seems we don’t.
So what do we do?
Well, if you made it through the recession with a home, your options are looking up. A second mortgage is a great way to get back on your feet and invest in your future. By using your home as equity, a second mortgage can provide you with the funds to rebuild, physically and metaphorically. Improve the worth of your house, invest in a new business, put your daughter through college; these are all viable options for improvement.
The government is not going to give you a bailout like it did GM. You’re going to have to hustle for it. Start with a second mortgage and get back in the game.
The GM Plant in Oshawa, Ontario
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