HotelChatter

The Vacation Bailout Plan is to literally save the "American Vacation" during this period of economic uncertainty. With the December holidays fast approaching and Spring Break within 120 days, The Society needed to act immediately to assist those who may be delaying vacation planning due to concerns of cost and value. But President Obama never made such a distinction when he first announced the broad outline of his plan last month. "The plan I'm announcing focuses on rescuing families who have played by the rules and acted responsibly, by refinancing loans for millions of families in traditional mortgages who are underwater or close to it," Obama was quoted as saying in a Feb. 18 Post story. Perhaps we should have read "close to it," as "close to the water" instead of as "close to underwater." Then again, a foreclosure prevented is a foreclosure prevented. But a bailout for vacation-home owners and small investors is something I simply did not expect to see. In the effort to save our homes, many of us have turned to payday loans instead of traditional short term loans from banks that no longer will lend to the people that paid for their bailout to begin with.To read more click http://personalmoneystore.com/moneyblog/2009/05/07/taxpayers-payday-loans-personal-bailout/