Members lug Posted March 6, 2009 Members Share Posted March 6, 2009 http://news.yahoo.com/s/nm/20090306/pl_nm/us_mortgage_bankruptcy_house Ho Ly {censored}. Link to comment Share on other sites More sharing options...
Members t3ch Posted March 6, 2009 Members Share Posted March 6, 2009 I'd be lying if I said I wasn't waiting for this. Link to comment Share on other sites More sharing options...
Members solderjunkie Posted March 6, 2009 Members Share Posted March 6, 2009 One day, people will actually have to be responsible for their actions... just not today;) Link to comment Share on other sites More sharing options...
Members bnyswonger Posted March 6, 2009 Members Share Posted March 6, 2009 It's easy to blame homeowners for getting in over their heads, but what's irresponsible about buying something you've been told you can afford and then having multiple rugs pulled out from under you in the form af job losses or pay cuts, and property devaluation? In many cases, the easiest thing for the owner to do is walk away let the bank take it, which in turn leads to further devaluation. This is an effort to break that cycle. These guys in Washington are dealing with macro issues, and trying deparately to save the rest of our asses. Give 'em a chance. Link to comment Share on other sites More sharing options...
Members WillPlay4food Posted March 6, 2009 Members Share Posted March 6, 2009 It's stuff like this that pisses me off for having the good sense to live within my means. 90%+ of mortgagees are current yet we have to pay for the ~10% that for whatever reason cannot pay their bills? Doesn't sound too capitalistic to me. Link to comment Share on other sites More sharing options...
Members Goofball Jones Posted March 6, 2009 Members Share Posted March 6, 2009 We have a mortgage on our house. It's a bit of a struggle to pay it every month....and we actually got it refinanced (right before the melt-down started) so now it's a set rate and our payments include the insurance and taxes all rolled into one. We're making it...getting a little tough, but still making the payments. Now, the thing is...for YEARS we got it from all sides. Our friends, our parents, lending organizations, our bank....everyone was saying the same thing "hey, why are you throwing away your money each month on some rental when you could OWN your own home! Come on, you can get a GREAT house!" On and on and on and on. Pressure pressure pressure. Sure, we could have been assholes and told them all to {censored}-off or mind their own business...but you have to realize the pressure you're under and after YEARS of people saying the same thing over and over and over, it starts to sink in. So we bought a house. So go ahead, tell about people "living within their means" etc etc etc. But when you have pressure from everyone AND predatory lenders out there promising the world, I can see how people get roped into this. But go ahead and tell yourself "oh, this would never happen to ME. I'm too smart for that." Do I believe in bailing out people that did this? Why not, we're bailing out these failed banks, failed automakers and the insurers of these failed banks and failed automakers. But honestly, doesn't matter what I think or believe...all this is going to happen no matter what. I don't want all those billions and billions and billions we're spending on this idiotic war either....complaining about it for 5 years has done nothing. Link to comment Share on other sites More sharing options...
Members T. Alan Smith Posted March 6, 2009 Members Share Posted March 6, 2009 These guys in Washington are dealing with macro issues, and trying deparately to save the rest of our asses. Give 'em a chance. I'm trying, Bob. I know I'm pretty freaked out about the fall of capitalism and the fast track to socialism this is producing. Link to comment Share on other sites More sharing options...
Members Emprov Posted March 6, 2009 Members Share Posted March 6, 2009 Uhmmm, they're about a year late on this. Link to comment Share on other sites More sharing options...
Members bassman1956 Posted March 6, 2009 Members Share Posted March 6, 2009 I'm trying, Bob. I know I'm pretty freaked out about the fall of capitalism and the fast track to socialism this is producing. Yes. Link to comment Share on other sites More sharing options...
Members catphish Posted March 6, 2009 Members Share Posted March 6, 2009 predatory lenders You better run before the personal responsibility police get here! You stupid, greedy bastard! Link to comment Share on other sites More sharing options...
Members catphish Posted March 6, 2009 Members Share Posted March 6, 2009 Uhmmm, they're about a year late on this. Does that mean we can blame Bush? Link to comment Share on other sites More sharing options...
Members jackcheez Posted March 6, 2009 Members Share Posted March 6, 2009 I'd let 'em pay mine, but I'm afraid they'd {censored} it up. Link to comment Share on other sites More sharing options...
Members T. Alan Smith Posted March 6, 2009 Members Share Posted March 6, 2009 We have a mortgage on our house. It's a bit of a struggle to pay it every month....and we actually got it refinanced (right before the melt-down started) so now it's a set rate and our payments include the insurance and taxes all rolled into one. We're making it...getting a little tough, but still making the payments. Now, the thing is...for YEARS we got it from all sides. Our friends, our parents, lending organizations, our bank....everyone was saying the same thing "hey, why are you throwing away your money each month on some rental when you could OWN your own home! Come on, you can get a GREAT house!" On and on and on and on. Pressure pressure pressure. Sure, we could have been assholes and told them all to {censored}-off or mind their own business...but you have to realize the pressure you're under and after YEARS of people saying the same thing over and over and over, it starts to sink in. So we bought a house. So go ahead, tell about people "living within their means" etc etc etc. But when you have pressure from everyone AND predatory lenders out there promising the world, I can see how people get roped into this. But go ahead and tell yourself "oh, this would never happen to ME. I'm too smart for that." Do I believe in bailing out people that did this? Why not, we're bailing out these failed banks, failed automakers and the insurers of these failed banks and failed automakers. But honestly, doesn't matter what I think or believe...all this is going to happen no matter what. I don't want all those billions and billions and billions we're spending on this idiotic war either....complaining about it for 5 years has done nothing. I lost my nephew due to this war, GJ. That doesn't change the fact that 2 wrongs don't make a right. I'm not that far behind you regarding your situation with your home, but if I had to foreclose, I couldn't fathom bearing the responsibility on the taxpayers. My purchases, be it a house or a pack of gum, are my sole responsibility. Nobody held a gun to our heads, bro. This economy is killing my business...which means my job isn't far behind. That doesn't mean you, your family & friends should be propping me up. It's not your responsibility. Link to comment Share on other sites More sharing options...
Members Emprov Posted March 6, 2009 Members Share Posted March 6, 2009 Does that mean we can blame Bush? Nope. Congress makes the laws and the same power brokers that are there today were there a year ago, one of whom is our current President. Guess he was too busy trying to land the new gig to do the one that he was actually hired to do. Link to comment Share on other sites More sharing options...
Members Ender_rpm Posted March 6, 2009 Members Share Posted March 6, 2009 As someone who is suppossed to close on a house later this month, this bill really scares me. We're doing the right things, keeping the payments around 25% of monthly income, locked in a 30 year at a lowish rate (Thanks VA Loan!!), etc,. I just wonder what wil happen to interest rates, and more importantly since my loan isn't finalized, what effect it will have on our purchase. Kinda (very) scary. Link to comment Share on other sites More sharing options...
Members RSBro Posted March 6, 2009 Members Share Posted March 6, 2009 I predict a record number of non-filed or "curious" tax returns in the coming next 4 years of hell, once people realize wtf is actually going on with all of their "tax dollars". The thing is, if you actually went to court about why you didn't pay what you allegedly owe, you'd probably win based on the merits, if it were trial by jury- unless you get the Obamanation on there, which are the people too stupid to get out of jury duty anyway! Link to comment Share on other sites More sharing options...
Members RSBro Posted March 6, 2009 Members Share Posted March 6, 2009 As someone who is suppossed to close on a house later this month, this bill really scares me. We're doing the right things, keeping the payments around 25% of monthly income, locked in a 30 year at a lowish rate (Thanks VA Loan!!), etc,. I just wonder what wil happen to interest rates, and more importantly since my loan isn't finalized, what effect it will have on our purchase. Kinda (very) scary. Just when I was over "renting"... Link to comment Share on other sites More sharing options...
Members Goofball Jones Posted March 6, 2009 Members Share Posted March 6, 2009 I lost my nephew due to this war, GJ. That doesn't change the fact that 2 wrongs don't make a right. I'm not that far behind you regarding your situation with your home, but if I had to foreclose, I couldn't fathom bearing the responsibility on the taxpayers. My purchases, be it a house or a pack of gum, are my sole responsibility. Nobody held a gun to our heads, bro. This economy is killing my business...which means my job isn't far behind. That doesn't mean you, your family & friends should be propping me up. It's not your responsibility. Sorry for your loss T. But yes, in my situation if I had to foreclose I wouldn't expect to be bailed out either. I made this bed so I should lay in it. It's just I can't speak for everyone nor do I know everyone's situation. Dunno. It's a tough call. The point I was trying to make in my hamfisted way is that just saying "I don't want my taxes bailing out others" is just pissing into the wind. Doesn't matter what I want them to be doing with my tax money, they're going to do what they want anyway. They always have no matter who's running the government....conservative or liberal, democrat or republican. Link to comment Share on other sites More sharing options...
Members bnyswonger Posted March 6, 2009 Members Share Posted March 6, 2009 I'm trying, Bob. I know I'm pretty freaked out about the fall of capitalism and the fast track to socialism this is producing. Here's the deal - when the house is on fire you try to put it out and minimize damage - you don't want the whole neighborhood to go up in flames. No one stops to ask the homeowner how he feels about water versus chemical retardants or how he feels about a municipal paid fire department versus a volunteer force. We're kind of past the point where fine tuning ideological stances means much - there's a {censored}ing fire to fight. After the smoke clears, you can have the luxury to debate philosophy. Link to comment Share on other sites More sharing options...
Members RSBro Posted March 6, 2009 Members Share Posted March 6, 2009 Here's the deal - when the house is on fire you try to put it out and minimize damage - you don't want the whole neighborhood to go up in flames. No one stops to ask the homeowner how he feels about water versus chemical retardants or how he feels about a municipal paid fire department versus a volunteer force. We're kind of past the point where fine tuning ideological stances means much - there's a {censored}ing fire to fight. After the smoke clears, you can have the luxury to debate philosophy. Except if I don't live in your neighborhood, I don't even know the fire existed, so I really don't give a {censored}, and you're not getting my money. Link to comment Share on other sites More sharing options...
Members Emprov Posted March 6, 2009 Members Share Posted March 6, 2009 As someone who is suppossed to close on a house later this month, this bill really scares me. We're doing the right things, keeping the payments around 25% of monthly income, locked in a 30 year at a lowish rate (Thanks VA Loan!!), etc,. I just wonder what wil happen to interest rates, and more importantly since my loan isn't finalized, what effect it will have on our purchase. Kinda (very) scary. I think you'll be fine. The time right now is the toughest that I've ever seen it for people who are trying to get financed. If you're bringing good credit to the table and make it through the process, which it sounds like you will without a problem, you'll be fine. Don't focus on the negatives, what you need to be doing is making friends with everyone who works at the local hardware store. Link to comment Share on other sites More sharing options...
Members catphish Posted March 6, 2009 Members Share Posted March 6, 2009 As I've said before, there is plenty of blame to go around. The legislators, the lenders, and the borrowers who didn't take the time to learn the ramifications before going hundreds of thousands of dollars into debt are all to blame. Arguing about who's at fault is silly. They are all at fault. Link to comment Share on other sites More sharing options...
Members bassplayer7770 Posted March 6, 2009 Members Share Posted March 6, 2009 Here's the deal - when the house is on fire you try to put it out and minimize damage - you don't want the whole neighborhood to go up in flames. No one stops to ask the homeowner how he feels about water versus chemical retardants or how he feels about a municipal paid fire department versus a volunteer force. We're kind of past the point where fine tuning ideological stances means much - there's a {censored}ing fire to fight. After the smoke clears, you can have the luxury to debate philosophy. But how do you know these policies aren't adding more fuel to the fire rather than putting it out? *runs away* Link to comment Share on other sites More sharing options...
Members Goofball Jones Posted March 6, 2009 Members Share Posted March 6, 2009 As I've said before, there is plenty of blame to go around. The legislators, the lenders, and the borrowers who didn't take the time to learn the ramifications before going hundreds of thousands of dollars into debt are all to blame. Arguing about who's at fault is silly. They are all at fault. I blame you for not talking me out of it. Jerk. Link to comment Share on other sites More sharing options...
Members RSBro Posted March 6, 2009 Members Share Posted March 6, 2009 As I've said before, there is plenty of blame to go around. The legislators, the lenders, and the borrowers who didn't take the time to learn the ramifications before going hundreds of thousands of dollars into debt are all to blame. Arguing about who's at fault is silly. They are all at fault. Oh, ok. So we who contributed absolutely nothing to this situation and are 0% fault should just pick up the tab of those who {censored}ed up. Nice. Link to comment Share on other sites More sharing options...
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