I am not talking about the interest I am talking about the actual savings. Lets say you and I are the only bank clients. I put $1000 into a savings account. You show up to the bank and ask for a $1000 loan. When they give you that loan they are basically giving you my money on the assumption that you will pay it back and they can make more money on the loan interest than they have to pay out on the savings account interest. If you decide you are not going to pay the $1000 what happens to my money? Now increase this by a huge national scale. I know most places deposits are insured, but if everyone stops paying their mortgages, like you suggest do you think there would be enough money to insure all of those deposits?
I am not talking about the interest I am talking about the actual savings. Lets say you and I are the only bank clients. I put $1000 into a savings account. You show up to the bank and ask for a $1000 loan. When they give you that loan they are basically giving you my money on the assumption that you will pay it back and they can make more money on the loan interest than they have to pay out on the savings account interest. If you decide you are not going to pay the $1000 what happens to my money? Now increase this by a huge national scale. I know most places deposits are insured, but if everyone stops paying their mortgages, like you suggest do you think there would be enough money to insure all of those deposits?
Ya but that's not how it works. They use fractional percentage banking and loan out more than they have anyway.... which is the root of the whole fucking problem.
The homes are ours. The local police have their homes. They can help out.
You people honestly telling me you give a SHIT about paying the money back to some Federal Reserve or some fucking Chinese loan shark.
I don't. They are fine. Maybe they can try being poor. See how they like it.
...
Didn't you sign a contract? Doesn't your word mean anything?
They... these monsters.. loaned you the money to move in. Until you pay off the loan... you are living in a house that is owned by the bank... not you.
...
I re-financed in 2003 into a 15 year fixed at 6.25%. In the past 5 years I have recieved many offers... by phone and by mail... to re-finance into an adjustable loan with extremely low interest rates.. much lower than 6.25%.
I didn't bite. The way I read it.. if that many people were calling my house... sending me E-Mails and letter... I figured it was not on the up and up. i was happy with my current loan... at my current rate... with my current managable payments.
Sure, i could have cut my monthly payments with a loan with a lower interest rate... but, at what cost?
I guess it comes from being more of a tortise than a hare... well, that and being so damn lazy.
Finally... Who is your lender? Are they part of this bail out?
Allen Fieldhouse, home of the 2008 NCAA men's Basketball Champions! Go Jayhawks!
Hail, Hail!!!
When I bought my house, I agreed to pay the mortgage back in the terms that we mutually agreed on. The bank honors their end of the contract, and I honor mine.
I fail to see how not paying on that loan to try to screw some rich guy at the top of the bank will help anything, but your checking account for a few months.
If your idea would somehow happen on a large scale, the nation would be in chaos... Sure, a handful of overpaid CEO's would be out jobs, but so would hundreds of thousands of other innocent people working in the banking industry or any other industry that needs to borrow money from time to time (all of them)... And good luck ever selling your house or anyone else ever being able to buy a house again.
I see your point and I agree, but maybe the laws have to be changed as to what they can't or cannot do....
like ok, is it ok for someone to be obviously living life FULLY and not pay their mortgage? No, of course it is not.......
is it ok for a family who is hit by hard times by either death of a parent, divorce, illness or maybe one of the main working people in the family loses their job, to be kicked out of their home? No maybe a little more "grace" in the so called grace period.........
Baby, You Wouldn't Last a Minute on The Creek......
Together we will float like angels.........
In the moment that you left the room, the album started skipping, goodbye to beauty shared with the ones that you love.........
That would be great. I know he is not a favorite here, but wouldn't it be great if The President came through with this bailout and changed history with the heroic measure he is taking? Time changes and softens us, I watched Clinton on the View the other day and listening to him speak, I forgot all of the bs we heard when he was in the White House doing Monica and I truly respected what he said.
Maybe if this works out, then he will be seen as the President who stood up to the terrorists as well as the President who turned around the economy.........
I would like that..........
Baby, You Wouldn't Last a Minute on The Creek......
Together we will float like angels.........
In the moment that you left the room, the album started skipping, goodbye to beauty shared with the ones that you love.........
Comments
I am not talking about the interest I am talking about the actual savings. Lets say you and I are the only bank clients. I put $1000 into a savings account. You show up to the bank and ask for a $1000 loan. When they give you that loan they are basically giving you my money on the assumption that you will pay it back and they can make more money on the loan interest than they have to pay out on the savings account interest. If you decide you are not going to pay the $1000 what happens to my money? Now increase this by a huge national scale. I know most places deposits are insured, but if everyone stops paying their mortgages, like you suggest do you think there would be enough money to insure all of those deposits?
Ya but that's not how it works. They use fractional percentage banking and loan out more than they have anyway.... which is the root of the whole fucking problem.
Didn't you sign a contract? Doesn't your word mean anything?
They... these monsters.. loaned you the money to move in. Until you pay off the loan... you are living in a house that is owned by the bank... not you.
...
I re-financed in 2003 into a 15 year fixed at 6.25%. In the past 5 years I have recieved many offers... by phone and by mail... to re-finance into an adjustable loan with extremely low interest rates.. much lower than 6.25%.
I didn't bite. The way I read it.. if that many people were calling my house... sending me E-Mails and letter... I figured it was not on the up and up. i was happy with my current loan... at my current rate... with my current managable payments.
Sure, i could have cut my monthly payments with a loan with a lower interest rate... but, at what cost?
I guess it comes from being more of a tortise than a hare... well, that and being so damn lazy.
Finally... Who is your lender? Are they part of this bail out?
Hail, Hail!!!
I see your point and I agree, but maybe the laws have to be changed as to what they can't or cannot do....
like ok, is it ok for someone to be obviously living life FULLY and not pay their mortgage? No, of course it is not.......
is it ok for a family who is hit by hard times by either death of a parent, divorce, illness or maybe one of the main working people in the family loses their job, to be kicked out of their home? No maybe a little more "grace" in the so called grace period.........
Together we will float like angels.........
In the moment that you left the room, the album started skipping, goodbye to beauty shared with the ones that you love.........
.
a derivitive of nature.
nature is god
god is love
love is light
I hope so........
That would be great. I know he is not a favorite here, but wouldn't it be great if The President came through with this bailout and changed history with the heroic measure he is taking? Time changes and softens us, I watched Clinton on the View the other day and listening to him speak, I forgot all of the bs we heard when he was in the White House doing Monica and I truly respected what he said.
Maybe if this works out, then he will be seen as the President who stood up to the terrorists as well as the President who turned around the economy.........
I would like that..........
Together we will float like angels.........
In the moment that you left the room, the album started skipping, goodbye to beauty shared with the ones that you love.........