Your generous donations for flood victims will end up paying banks

[SoCalDem]

The aid will soon start flowing into banks, who will then use that money to LEND out.. The local banks have (some of them) given a 90 day "payment vacation" so by then the homeowner who lost their home, job, maybe a few cars they still owe on, will owe 4 months worth of mortgage payments, will be behind more than the 30 days the car loaners have 'given' for their flooded piece of metal....

and whammy..


they must now 'apply" for a loan.. Guess what condition their credit score will be in??


There is NO GUARANTEE that they will even qualify for those loans..

This is the thing that pisses me off so much in a disaster..

people see those tearstained faces, those poor people up to their chins in dirty water, and donate money to THOSE PEOPLE....NOT TO THE BANKS, OR MORTGAGE COMPANIES ..

It truly sickens me to know that the MILLIONS of dollars that have been donated will NEVER reach the ones we wanted it to go to..

A poor family who rented, and has lost everything, could have made a great start at a new life, with some housing vouchers and $5K from the donation pool.. That would surely have been enough to get them away from harm and perhaps replace a few things they lost.. I would rather my donation be spent on sneakers and video games, than to have it go to some wealthy bankers who will just loan it out interest free to their already rich pals:(