Rewarding bad decsion's,

[Big Fish Billy]

[QUOTE=seapower;502474]What no help here????Frank[/QUOTE

Oh I thought it was a rant.... How about this, my wife has a friend that did about the same, got involved in a house that was too much to pay for, the bank foreclosed, she sued the bank because they should have known she couldn't have afforded the payments for the house after compiling the numbers, won the suit, has the house for free...no monthly payments...of course same final story...we're paying for it....oh yeah, she voted for McCain....a winner all around......hope that was the help you were looking for......

[seapower]

No Billy that wasn't what I had in mind, but does go to show you how screwed up this whole thing is. Did the bank force him/her to go in and sign anything. It's your responsibilty to know what you're signing. As many of us here being veteran's we all signed our name to the dotted line, when the s_ _ _ hit the fan we weren't allowed to say "I didn't know what I was signing". The fact that they went to court and won, tick's me off as much as the rest of this crap. When do we say Stand On Your Own Two Feet. No one can make any kind of arguement to me, that when any one who sit's across the table and goes through the mortgage process, that they don't know exactly what THEY are signing. Do thing's happen, yes, I think they call it life. Pick yourself up and dust yourself off, it's part of the learning curve. As far as the "loan officer's" that take advantage of folk's to make the sale (yes a mortgage is a sale), prosocute them and send them off the the Country Club if found guilty.
Tim, I don't expect to get anything for doing what's right, other than what I agreed to in the beginning of the process. I go to the bank, I like them, they like me, we sign a contract. That's it that's all.
When did a house become a source of revenue instead of a place to live???? That's the root of the problem, in my opinion. We can't live in a house any more it has to be a show piece, a palace. We have been living way above our mean's for the last decade and a half or so. We no longer live by our mean's. You don't think this is so, I'll pose this question to you. Say we stop the lending process as we know it and you could only buy what you had saved enough money to buy (cash so to speak)? How much "stuff" do you think we'd have. If you can't save for it ,YOU CAN'T AFFORD IT!!! What a backward way of thinkin', huh??? Frank

[seapower]

Sorry my question's come across as a rant. My wife has complained about that for year's. I'm trying to change, "kinder and gentiler", yep that's me. Frank

[FXRScotty]

A woman who works for me making 35k a year was pre approved for 270k mortgage and showed me the paper work. I said "you know you can't afford that right"? and she did and bought a repo for 100k. She said they were actually pressuring her to borrow more. How many were not as prudent as she and fell for the sales pitch? I think there should be criminal charges for some of these sharks out there. Just saying.

[cravertosu]

No Billy that wasn't what I had in mind, but does go to show you how screwed up this whole thing is. Did the bank force him/her to go in and sign anything. It's your responsibilty to know what you're signing. As many of us here being veteran's we all signed our name to the dotted line, when the s_ _ _ hit the fan we weren't allowed to say "I didn't know what I was signing". The fact that they went to court and won, tick's me off as much as the rest of this crap. When do we say Stand On Your Own Two Feet. No one can make any kind of arguement to me, that when any one who sit's across the table and goes through the mortgage process, that they don't know exactly what THEY are signing. Do thing's happen, yes, I think they call it life. Pick yourself up and dust yourself off, it's part of the learning curve. As far as the "loan officer's" that take advantage of folk's to make the sale (yes a mortgage is a sale), prosocute them and send them off the the Country Club if found guilty.
Tim, I don't expect to get anything for doing what's right, other than what I agreed to in the beginning of the process. I go to the bank, I like them, they like me, we sign a contract. That's it that's all.
When did a house become a source of revenue instead of a place to live???? That's the root of the problem, in my opinion. We can't live in a house any more it has to be a show piece, a palace. We have been living way above our mean's for the last decade and a half or so. We no longer live by our mean's. You don't think this is so, I'll pose this question to you. Say we stop the lending process as we know it and you could only buy what you had saved enough money to buy (cash so to speak)? How much "stuff" do you think we'd have. If you can't save for it ,YOU CAN'T AFFORD IT!!! What a backward way of thinkin', huh??? Frank

Guess I came across a little wrong. I certainly don't expect anything for doing the right thing. Never have, never will. It's more of the tax part of it. If mortgages are going to be lowered, why not allow me to lower mine?

Tim

[Big Fish Billy]

Sorry my question's come across as a rant. My wife has complained about that for year's. I'm trying to change, "kinder and gentiler", yep that's me. Frank

No problem buddy, me too...

Guess I came across a little wrong. I certainly don't expect anything for doing the right thing. Never have, never will. It's more of the tax part of it. If mortgages are going to be lowered, why not allow me to lower mine?

Tim

Exactly, if they drop the rate for the fu_k ups, drop it for everyone...and since housing values have dropped round 20%, let's drop the taxes on that property too...when I bought my house there was a simple formula, you looked at houses 2.5 times your salary...somewhere that got lost, but it seemed close...

[seapower]

I agree a reduction across the board would be the biggest stimulus possible.Problem is ,with the reduction of income will come the reduction of tax revenue's. Where do you suppose the slack will be taken up??? I think I know, "Oh,Oh, Pick me, Pick me"!!!. Nothing's really changed here if the truth be known, we (the middle class) have alway's carried the lame and lazy, and by way of the lawyer's that the wealthy can afford (these are tax deductible services, by the way), they'll pay the taxes they've alway's paid. Other than the subject at hand, the story's still the same. Frank

[marine4003]

Hey Frank,

Stacy and I have that same discussion ALL the time! Why is everyone that messed up getting special treatment and favors while the rest of us that DID THE RIGHT THING get nothing? And not only do we get nothing, but we have to pay for those that didn't do the right thing and took the easy way!

Tim

The hardworkers paying for the slackers.....Gee,kinda sounds like SOCIALISM....welcome to obama-nation.....