Is it to early to say i told you so about Obama?

audome25

audome, walking away goes back to what I was saying before. That would mean more poor people in apartments instead of being able to buy a home. That isn't fair to them cos owning a home, if done honestly, is better for them. They aren't forever paying rent and leaving nothing but rent to pay to their heirs. That makes it a lot more difficult for them to ever rise up out of poverty.

there is a magic number of people who should own homes. it is not 100%. a lot more than poor people pay rent, just like how a lot more than lawyers own homes.

pjalive21

dharma69 wrote:

Is it to early to say i told you so about Obama?

If you have even half a brain, the answer is "Yes".

its been a few days since you've said this, so with now Daschle stepping down as Obama's buddy where are your thoughts now? half of the people Obama has been wanting to put into cabinet has either stepped down or has unpayed taxes or some other issue going on...once again putting into question Obama's judgement, but im still waiting on his 100 days on infamy


the pork filled "bailout" which isnt one at all?

(onto other topics being discussed)

as far as this housing talk lenders gave loans to people who couldnt afford them, stupid people took on these loans knowing they couldnt afford them and there were no checks and balances as Barney Frank was talking out of his arse

i just bought a house at the end of last year and knew EXACTLY what i was getting into financially with the loan and the interest rates and all that...whoever took on adjustable interest rates playing russian roulette with the market was a fool

Flutter Girl

I repeat

You guys don't get it..You say let them fail. Let homeowners fail, let businesses fail (well that's not fair, it's not their fault people aren't buying), let banks fail, let the stock market fail...Are you even registering that whether we bail them out or let them fail, we are still the ones getting stuck with the bill for it? Look at the stimulus thread. I broke it down. It is far cheaper, for us, to just bail them out than any of the other options.

Anon

What do you propose we do for the people who are responsible and pay their bills on time?

It really is black and white, the people who have allowed their homes to go into foreclosure are directly to blame for this mess. Nobody had a gun pointed at their heads when they signed the dotted line. I hope their credit is ruined. Fuck them. They make me sick.

blackredyellow

RM291946 wrote:

If you understand it that's great..I've personally never had a problem, even before I became a loan officer..But I am not saying only the poor are 'too stupid' to understand..I'm saying a good lot of people, no matter their income, can't understand, it's just the ones with more money can afford a lawyer.

I disagree... We bought our house this past fall, and our lawyer cost us a few hundred bucks. You are saying people think that they can't afford a lawyer but think they can afford a house that costs $100,00+?

Cosmo

I have a question...
Is it better to have families with modified loans... maybe with lower interest rates and/or a longer (40 or 50 year) term loan, but making payments they can handle... living in houses on your street... OR...
empty, abandoned houses that sit on the market, unsold for months? (Because, we know, abandoned houses never attract squatters or kids looking for some place to thrash).
...
Oh, and nothing draws buyers to your neighborhood better than a row of empty, foreclosed homes, right?

Flutter Girl

blackredyellow wrote:

RM291946 wrote:

If you understand it that's great..I've personally never had a problem, even before I became a loan officer..But I am not saying only the poor are 'too stupid' to understand..I'm saying a good lot of people, no matter their income, can't understand, it's just the ones with more money can afford a lawyer.

I disagree... We bought our house this past fall, and our lawyer cost us a few hundred bucks. You are saying people think that they can't afford a lawyer but think they can afford a house that costs $100,00+?

My aunt pays 800$ a month for her home. On a 100,000$ loan. Before that she was in an apartment for the same amount. she barely affords both, but at least the home eventually has a means to an end. The only reason she was able to get the home was cos it was inherited from her grandmother. In other word's, equal to a 'no money down' loan. There is no way, paying for the apartment, then straight into a home, while pinching pennies to afford groceries, that she could have spared a few hundred bucks for a lawyer. she was lucky in that the loan on the home was done through the VA credit union, not a mortgage broker con artist.

As to whomever said about those paying their bills- extend the loans so they can lower their payments, and possibly also lower their interest rates. same should be done with the businesses that are going under.

in re to the squatters..believe it or not, there is a new program down here where some jackass is actually finding empty homes for people that are newly homeless so they can have a place to squat while getting back on their feet, but it's all done illegally, not thru some legitimised program. It's breaking and entering. While it helps those who really do just want to get back on their feet, there are a number who are doing what squatters typically do. Ripping the homes apart to sell what they can, and causing trouble for the people surrounding them who actually do pay for their homes..It's not fair to us, and the damage makes the home that much more difficult to sell.

Commy

if the homeless find empty homes, what is the problem? seems perfect for them.

Flutter Girl

Commy wrote:

if the homeless find empty homes, what is the problem? seems perfect for them.

it is good for them..but too many are the kind that I mentioned. Ones who destroy the property and cause problems for those of us actually paying to live in ours..