My New Mortgage

The musings of an average Joe who doesn't like what is happening to the house next door:

My New Mortgage
By Asher Embry

The web sites offered quite a deal:
“Low sub prime teaser rate!”
But five years on the risk was real,
Huge ARM rate jumps await.
Cautious, I bought a house much smaller,
With interest I could pay.
I pay my mortgage, every dollar.
It pains me every day.

My neighbor struck a diff’rent chord.
He recklessly did shop.
The biggest loan he could afford -
Figured values seldom drop.
Of course, a rate of 2%,
It only lasts so long.
And through the roof the rate it went.
He found he’d gambled wrong.

I also could’ve risked that route.
A chump, that is my fate.
‘Cause now Barack will bail him out,
His mortgage they’ll abate.
Help those in need, we ought to do,
But enabling’s what this is.
Now I’ve got mortgage number two,
Unfortunately, it’s his.

Copyright 2009