I shoudn't post this, but I am eating lunch and bored

Godfather.

just for shitz and giggles...why are we aked to pay higher taxes for a debt we have no control over ? if someone asked me how to spend the money I may have had a different idea on where to spend and not to spend.

Godfather.

Cosmo

Godfather. wrote:

just for shitz and giggles...why are we aked to pay higher taxes for a debt we have no control over ? if someone asked me how to spend the money I may have had a different idea on where to spend and not to spend.

Godfather.

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http://underthemountainbunker.files.wor ... 5/1-14.jpg
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It is from 2011... go ahead... hack away.

josevolution

Godfather. wrote:

Cosmo wrote:

Godfather. wrote:

Cosmo just wait man,I hope obama makes wise choices but if he goes in the direction he is now I think we could be in deep shit.

Godfather.

...
Like what? What decision is he going to make that will lead us to the thousand years of darkness Mr. and Mrs. Chuck Norris warned us of?
and he can do that... all by himself? Did we vote Obama in a God's replacement?
What direction are you warning us of?
I'd really like to know.... really.

really you need a friggin blueprint man ? telll ya what lets just watch for a few years...maybe sooner.

Godfather.

Oh yeah you must mean the mayan calendar dooms day right , man who talked you out of jumpin from the bridge you are still here posting

Godfather.

jose.....please....you're like one of those little dogs that run in circles around peoples feet and bark for no dang good reason.

Godfather.

JC29856

MotoDC wrote:

JC29856 wrote:

stop foreclosures and force banks to write down the worth of properties mortgaged on their books to market value while reducing the principle owed by homeowners, fix the interest rate to 3% and re-amortize the monthly payment....major problem solved

Foreclosures were stopped (and have since restarted) and banks have been writing down their bad loan assets for some time. Why do you think so many were going out of business over the last couple years? FDIC Friday anyone?

I agree with reducing borrower UPB, but ONLY for the banks that took bailout money. It should have been a contingency so that joe schmoe (aka joe the plumber) could have benefited from some of that bailout $$.

If anyone refinanced when they should have, they would have gotten pretty damn close to 3% anyhow. Banks were pretty aggressively offering rate reductions (via refi) with minimal fees for a while. Probably not to every borrower though.

edit: also, it's principal. Not principle. Sorry, pet peeve. :silent:

oh my!
foreclosures were slowed for 3 reasons:
1. the banks needed time to assess and plan for their greed then ran to the government to cut deals since they were caught robo signing loans and illegally foreclosing on homes, see the deal made with 49 state attorney generals (what would happen to you and i if we forged loan documents and cheated counties out of millions of dollars???)
2. the banks already held about 9 months worth of shadow inventory on their books so they needed to run to the government to cut a sell off deal, without tanking the housing market, see foreclosure to rental program $500billion, see Fed agreement to buy $40billion in MBS
3. the banks needed to slow foreclosures in order to trickle their shadow housing onto the market, its not in their best interest to flood the market with houses thereby decreasing the value of the houses still held on their books.....example if you stole 1000 pearl jam posters (with impunity) of their first ever show, would you put 500 on ebay all at once or slowly over time put them up for sale?

NO BANK HAS WRITTEN DOWN A LOAN UNLESS FORECLOSED UPON...if your talking about refis or mortgage modifications, there is no such write down, the interest rate is reduced (because they can borrow from the fed at 0%) and monthly payment adjusted. principal is shifted to the end of the term, similar to a balloon.

again banks were offering rate reductions not out of the goodness of their hearts but in order to clean up the paperwork mess and establish clear/clean title to properties they robo signed, which was part of the agreement with the 49 state attorney generals, offer low rates and clean up your mess!

for more info about how your consumer protection bureau is protecting the big banks...google "qualified mortgage".......... I would love to read your thoughts

pandora

We have our house by owner and are looking to buy so we are out each weekend
house hunting the past 8 months.

The homes are being bought up and then rented out,
even large homes and they are no longer for sale.

I think that is scary. I certainly do not want a landlord!