Foreclosure

Sometimes you might stumble upon a few surprise issues that are unrelated to TWU Local 100, or to protecting the membership. However when dealing with John Samuelsen and his TBOU team, they come with hare brained issues that will leave you scratching your hair.

When a tenant doesn’t pay their rent––he/she is subject to eviction. Are these tenants not worth fighting for? How about when our retirement accounts lose value; is that not worth fighting for as well? Or are we in the TWU Local 100 going to discriminate and lean towards the side of homeowners, rather than the tenants? Many of TWU Local 100 membership are tenants; is it an official policy of TWU Local 100 to discriminate? When one wonders about these circumstances, they come to the conclusion that it is a shame on those who discriminate. Clearly they’re not worthy to be an officer of TWU Local 100––it is evident that this officer is talking gibberish.

When a ‘homeowner’ doesn’t pay the mortgage, he/she is subject to foreclosure. ‘Homeowner’, however, is only a name; the mortgage holders are the real owners of the properties, not the one who is living there. Whoever lives there stands to gain if the property has appreciated, but they lose nothing when the property goes down in value.

Homeownership is not an entitlement––and neither is a mortgage! The lending institution has every right to determine who it is that they’re going to lend to (as long as they don’t discriminate) as well as how much they’re going to lend, and upon what terms. It is their money, and they want to make sure (as best as they can) that they get their money back. If the lender doesn’t think the would-be borrower can afford to pay the loan back, they don't lend. However if the TWU Local 100 officer guarantees the mortgages then maybe this officer has the resources and will assume those mortgages off their hands. We can see that this officer is out of their mind.

The home that a person lives in should not be considered an investment; it is a home, not a stock nor a bond! The naive, and/or greedy fools who kept taking money out of their appreciating homes––their piggy banks––in the form of re-financings and home equity loans, are now as a result ‘underwater’ and have nobody to blame but themselves.

When our retirement and personal stock market accounts go down in value, we don’t whine, we take it in stride––and that’s the way the market works. It goes up, then it goes down. Fortunately, however, the long term trend is up; it is the same with housing values. Who the hell are homeowners who get every tax break that the real estate industry’s political contributions can buy (mortgage interest deductions, home equity interest deductions, capital gains exclusions...) to complain? Clearly this officer is out of their league with their gibberish and moorish trickery. It is disastrous that this officer didn’t even think for a second––this officer owes an explanation to the membership, who have retirement accounts that have lost value, which are all members without exception (members who are tenants), who are all in the majority.

It is not clear why TWU Local 100 chose to support such an endeavor that has no relation with transportation at all. But these are John Samuelsen TBOU brainiacs who feel that they should meddle with the finance and banking industry, while neglecting their bread and butter issues in transportation and membership protection.