Short sales not meant to help Steve Israel

The Island Now

I just have to make a comment on the “short sale” Steve Israel took advantage of in order to not satisfy his mortgage as contractually agreed upon.  

This is an example of what is wrong with assistance to people. Here is a case where more rules and/or restrictions are required.  There is no reason under the sun why Mr. Israel could not pay off his $93,000.00 left on his mortgage!  

His income and assets are certainly substantial. Why should the bank (and thereby its other clients) suffer and have to make up for the loss or lose out on possibly a higher interest rate because of it?  

I can understand the “short sale” for people in dire straits – loss of income, health catastrophe, or having been duped into a mortgage they really could not afford – but that is not the case here. 

 My husband and I along with people we know and those we don’t know have paid or still pay our mortgages while having far less salaries and assets than Mr. Israel.  I see it as a case of him shirking his responsibility and taking advantage of a system tactic that is not meant to aid a person of means.  If Mr. Israel purchased beyond his means, shame on him–not a good sign for a candidate. 

 

Marilyn Watson

Albertson

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