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Ted Klumb is a Commercial and Residential Real Estate agent with First Weber and CEO/Founder of TKOR, LLC property management (www.tedklumb.com). He lives and works in Menomonee Falls, is a graduate of UWM, and is married with two children. Ted is also a former member of the Menomonee Falls School Board, a faith development music teacher, and musician who’s enthusiasm far exceeds his talent.
Feds Bail Out Teddy MAC
In a move with way too much precedent, the Federal Government came to the rescue of Teddy Mac, or “T-Mac” as he is known to his creditors, to help him make his Lamborghini, Italian sports car payments.Sadly, Teddy Mac is a victim, as is a growing number of people, who bought massive or expensive vehicles and are getting caught by high gas prices and other realities that existed long before he actually bought the car.
"Well it is about time someone got around to helping me out,” T-Mac said while dining at a steak house called “Eddie Martinis” and munching on the seafood appetizer. “I was just about ready to move into a FEMA trailer.” Asked if he was worried about the impact on taxpayers, he dismissed the idea as foolish, because he didn’t pay much in taxes anyway.
“I had to have that car for work,” T-Mac said. “In my line of work, (which he declined to describe) you have to look good, and the Lamborghini did the trick.” Now what am I supposed to do? Ride the bus? Buy a Mazda? That will hurt my image and business.” T-Mac knows there are lots of people out there he can sue. The car salesman should have told him that insurance, gas prices, and other expenses are all part of buying a car. When asked about maintenance costs, T-Mac bemoaned, “nobody told me how much it would cost to fix a clutch!” This is a $300,000 Italian sports car, so what could possibly go wrong on the mechanical end? For that price it shouldn’t need a tune up or oil change for at least 10 years.
Preditory insurance companies are adding to his pain. “My premiums were over $18,000 a year, before the cops hasseled me for going 122 MPH on Good Hope Road, and didn’t give me a warning. Now I have another unexpected premium increase.” Still, he notes, with glee, that he had lots of pedal left and wasn’t even up to 4th gear. He will probably drop the insurance anyway because he feels he is a very safe driver and goes to church every Christmas.
T-Mac has saved most of his bitterness for the exploitative Bank, who forced the loan on him, and is now expecting him to pay 6 months in delinquent payments. “They should have verified my income better. Now that I can’t pay, it is their problem.” T-Mac added, They made the loan, and they have to live with it. Whatever happened to personal responsibility!”
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