![\"chanting_points_200px\"](\"http:\/\/www.shotinthedark.info\/wp\/wp-content\/uploads\/2011\/07\/chanting_points_200px.gif\")
<\/a><\/p>\n\nDemocrats are running a television ad against Jason Lewis, candidate for John Kline\u2019s congressional seat, featuring this quote: \u201cPeople have no idea what a great deal the American foreclosure system is.\u201d<\/span><\/p>\n
\u00a0<\/span>Lewis is entirely correct, of course, but explaining it takes longer than a 2-second sound bite so Liberals can\u2019t be bothered to understand.\u00a0 They hear \u201cforeclosure\u201d which in their minds is \u201cbad\u201d and that\u2019s enough to cement the mental link \u201cLewis = bad.\u201d<\/span><\/p>\n
\u00a0<\/span>Look, if you want to buy a house that costs $180,000 \u2013 go buy it.\u00a0 Oh, you don\u2019t have that much saved up in the bank?\u00a0 So take a loan to buy it.\u00a0 Of course, the lender will want collateral for the loan, that\u2019s only prudent.\u00a0 Do you have gold, jewels, furs, bonds you can pledge?\u00a0 No?\u00a0 For most of history, and in many countries around the world today, that\u2019s the end of the story.\u00a0 No collateral, no loan, no house.<\/span><\/p>\n
\u00a0<\/span>America\u2019s system of mortgage-backed lending lets you pledge the house itself as collateral for the loan you are taking to buy the house. \u00a0If you can\u2019t repay the loan, the bank sells the house at auction and applies the sale proceeds toward your loan balance, leaving you with a much smaller loan balance to repay.\u00a0 Minnesota\u2019s optional foreclosure by advertisement process is even better \u2013 the lender takes the house and writes off the rest of the loan balance: you owe nothing. \u00a0No debt, no judgment, no garnishment, no debtor\u2019s prison; you walk away and in a few years, when your credit is rebuilt, you buy a different house.<\/span><\/p>\n
\u00a0<\/span>The mortgage foreclosure system is what gives America one of the highest home-ownership rates in the world.\u00a0 Jason Lewis is entirely correct and Democrats attacking him are entirely wrong.\u00a0<\/span><\/p>\n
\u00a0<\/span>But I\u2019m over my 2-second limit.\u00a0<\/span><\/p>\n
\u00a0<\/span>Joe Doakes<\/span><\/p>\n<\/blockquote>\n
We’ve known for years; Democrats are going for the voters that only need two seconds of chanting points to be convinced.<\/p>\n
And don’t laugh; their votes count just as much as yours do.<\/p>\n","protected":false},"excerpt":{"rendered":"
Joe Doakes from Como Park emails: Democrats are running a television ad against Jason Lewis, candidate for John Kline\u2019s congressional seat, featuring this quote: \u201cPeople have no idea what a great deal the American foreclosure system is.\u201d \u00a0Lewis is entirely correct, of course, but explaining it takes longer than a 2-second sound bite so Liberals […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[108],"tags":[161],"class_list":["post-60691","post","type-post","status-publish","format-standard","hentry","category-chanting-points-memo","tag-mn-cd2"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/60691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60691"}],"version-history":[{"count":1,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/60691\/revisions"}],"predecessor-version":[{"id":60692,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/60691\/revisions\/60692"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60691"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}