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| Foreclosures at record as household wealth falls (Page 6/19) |
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aceman
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MAR 07, 07:23 AM
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Mr Bitter,
He obviously thought and still thinks that the 5 kids isn't the reason why his finances suck. He can have 10 kids for all I care. Just don't wonder why you can't pay your house payment. Gee, maybe if he didn't have all those kids, he could have saved money for a down payment. Maybe with only 1-2 kids, wifey could work. Have as many kids as one wants. Just realize that the kids are where your expenses are. Realize if you can afford 1,2,3 or more. DON'T tell me they aren't the reason he needed larger/more expensive living accommodation.
He bought 2 years ago, right? About 3 years ago now, renting became cheaper than buying an overinflated house. It was on the 10 O'clock news in my area. You probably saw something like that, since your education seems to solely come from whatever a news agency's agenda is.
Mr Bitter, you don't listen/believe any other college educated person. Why should you believe a real estate agent?
Maybe a real house wasn't the only option. Maybe he could have bought a mobile home. You don't need to get a mortgage for a "wannabe house" and they're cheap because you dispose of them after 10 years or so.....Right, Mr Bitter?
BTW, Mr Bitter, you're throwing up your bitter, drunken bum in a crappy bar argument again. I don't have anymore time to waste on you. Come back with a better argument and maybe I'll talk to you again after work.[This message has been edited by aceman (edited 03-07-2008).]
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84fiero123
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MAR 07, 08:21 AM
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| quote | Originally posted by aceman:
Mr Bitter,
He obviously thought and still thinks that the 5 kids isn't the reason why his finances suck. He can have 10 kids for all I care. Just don't wonder why you can't pay your house payment. Gee, maybe if he didn't have all those kids, he could have saved money for a down payment. Maybe with only 1-2 kids, wifey could work. Have as many kids as one wants. Just realize that the kids are where your expenses are. Realize if you can afford 1,2,3 or more. DON'T tell me they aren't the reason he needed larger/more expensive living accommodation.
He bought 2 years ago, right? About 3 years ago now, renting became cheaper than buying an overinflated house. It was on the 10 O'clock news in my area. You probably saw something like that, since your education seems to solely come from whatever a news agency's agenda is.
Mr Bitter, you don't listen/believe any other college educated person. Why should you believe a real estate agent?
Maybe a real house wasn't the only option. Maybe he could have bought a mobile home. You don't need to get a mortgage for a "wannabe house" and they're cheap because you dispose of them after 10 years or so.....Right, Mr Bitter?
BTW, Mr Bitter, you're throwing up your bitter, drunken bum in a crappy bar argument again. I don't have anymore time to waste on you. Come back with a better argument and maybe I'll talk to you again after work.
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Do you find some weird satisfaction in degrading everyone who disagrees with you?
Hey the people with the education in charge were still saying buying a home was a good idea even last year. Toddster even said it was still a good idea as late as January last year.
For some reason you can’t have a discussion with anyone who disagrees with you without trying to degrade them.
That in itself makes you the bitter one.
God forbid anyone even make a correct statement, then you really go off the subject. So you don’t have to answer their questions or stay on the subject.
Hey, buy that house, you can sell it for more than you owe in a year or 2 and make money and buy an even bigger and better house.
Isn’t that what Toddster has said?------------------
Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.
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Spektrum-87GT
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MAR 07, 09:01 AM
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Not all bad has come from this housing disaster... a lot of people, like myself, were forced to find better paying jobs or return to school.
When I found out I couldn't afford to buy a home in a decent area(even with a higher than national average salary, good credit, and a large down payment), I returned to school full time in order to get a better job in the future.
I really hope lenders burn over this one. I remember them turning me down for fixed mortgages and countering with multiple ARM offers.
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84Bill
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MAR 07, 10:29 AM
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| quote | Originally posted by Spektrum-87GT:
Not all bad has come from this housing disaster... a lot of people, like myself, were forced to find better paying jobs or return to school.
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Thats all well and good but with the market being depressed many employers are cutting back to keep their profit margins intact and stock holders happy.
NEW YORK (CNNMoney.com) -- Employers made their deepest cut in staffing in almost five years in February, according to a closely watched government report that showed the labor market to be far weaker than expected.
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Pyrthian
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MAR 07, 10:46 AM
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| quote | Originally posted by blackrams:
Listening to talk radio today, I heard of a plan that is being circulated around the Senate. It won't help everyone but, it might help some. The crutch of the plan is tax credits being made available to anyone that buys a home in foreclosure. I believe they said that the buyer had to stay or keep the home a minimum of three years to get the whole tax credit. Though it doesn't really save anyone that used ARM's and now can't make the payments, it does keep the market moving and keeps homes occupied. I don't think there is a good answer to this. I'm definately not in favor of another Savings and Loan Bail Out. We're still paying for that mess. Some banks are going to fail, that's part of doing business. Hopefully, folks will learn from this and not bite off more than they can chew. Even if the full meal doesn't come along for three to five years. If you can't afford it now, what's makes folks think they will in a few years.
Ron |
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damn fine idea. always impressed when they try to solve a problem in a real manner. because the real problem with the forclosures is vacant houses. the people who were evicted should not have been there in the first place - so, they are not actually the problem. and, another problem with foreclosed houses is the fact that since they couldnt afford the payments - they certianly could not afford the upkeep.
nothing wrecks a nieghborhood like a vacant sitting house. becuase it spreads. quickly.
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Old Lar
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MAR 07, 11:59 AM
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I'm feeling left out. Since I pay my mortgage on time, I won't see any reduction in my balance owed or break with the interest on my mortgage. Since I live within my means, I won't see any benefit from a welfare payment. Since I pay for my health care insurance, I won't get any benefit from free health care or free prescriptions. I get to foot the bills for myself, then see my tax dollars subsidizing those who are unable or unwilling to take the responsibility for their actions. Something is wrong with the system. 
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Pyrthian
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MAR 07, 12:07 PM
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| quote | Originally posted by Old Lar:
I'm feeling left out. Since I pay my mortgage on time, I won't see any reduction in my balance owed or break with the interest on my mortgage. Since I live within my means, I won't see any benefit from a welfare payment. Since I pay for my health care insurance, I won't get any benefit from free health care or free prescriptions. I get to foot the bills for myself, then see my tax dollars subsidizing those who are unable or unwilling to take the responsibility for their actions. Something is wrong with the system. |
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then quit. what the french, toast?
it's so easy to not work, you get to drive mercedes & wear furs coats. or, like the mexicans - you get a new truck.
betcha you dont. betcha you like what ya got. yes, I understand the frustration.
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Puckhead
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MAR 07, 12:58 PM
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| quote | Originally posted by Pyrthian:
damn fine idea. always impressed when they try to solve a problem in a real manner. because the real problem with the forclosures is vacant houses. the people who were evicted should not have been there in the first place - so, they are not actually the problem. and, another problem with foreclosed houses is the fact that since they couldnt afford the payments - they certianly could not afford the upkeep.
nothing wrecks a nieghborhood like a vacant sitting house. becuase it spreads. quickly. |
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Pyrithian....not attacking here, just trying to understand......To use public money to help people profit from this (ie: buying a vacant,using govt. money to fix it, stay there for three years turn around and sell to buy a bigger house) is better than using govt. money to keep families in the houses to start with?? I would probably be in favor of this more, if it were a loan. sell in under 10 yrs and you have to pay a portion back.
It would definitely help those communities who has seen their values drop because of vacants (Detroit, Cleveland) but, even Ben Bernanke is starting to say the banks may have to eat portions of these loans. It may be necessary to stave off total collapse.
The thing I would like to see is someone start suing the appraisers. I've seen appraisals in my neighborhood at 150% higher than what they should be. I have a friend whose house was appraised at $175k last year. They have been on the market for a year (her company merged and sent their office to Houston) they cant get offers at $105k..........sad really
peace be to y'alls
-T
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Pyrthian
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MAR 07, 01:11 PM
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| quote | Originally posted by Puckhead:
Pyrthian....not attacking here, just trying to understand......To use public money to help people profit from this (ie: buying a vacant,using govt. money to fix it, stay there for three years turn around and sell to buy a bigger house) is better than using govt. money to keep families in the houses to start with?? I would probably be in favor of this more, if it were a loan. sell in under 10 yrs and you have to pay a portion back.
It would definitely help those communities who has seen their values drop because of vacants (Detroit, Cleveland) but, even Ben Bernanke is starting to say the banks may have to eat portions of these loans. It may be necessary to stave off total collapse.
The thing I would like to see is someone start suing the appraisers. I've seen appraisals in my neighborhood at 150% higher than what they should be. I have a friend whose house was appraised at $175k last year. They have been on the market for a year (her company merged and sent their office to Houston) they cant get offers at $105k..........sad really
peace be to y'alls
-T
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nope. these people could not afford to be there in the first place. and, if they cant afford to be there, they certainly cant afford the upkeep - which affects the value of the whole neighborhood. dont drag out the inevitable.
there are plenty of positive things the g'ment could spend money on to help people. public transportation. solar power. border security. aids quarantine.
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JazzMan
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MAR 07, 01:19 PM
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. [This message has been edited by JazzMan (edited 12-04-2008).]
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