spacejamz
Lifer
- Mar 31, 2003
- 10,949
- 1,624
- 126
Yup....because these people think that they can afford a $400K house payment on top leasing two SUV's that they probably rolled a few thousand from their previous car loans while making the minimum payment every other month on their Sears/Best Buy Credit cards that had the interest rate kicked up to over 30% because of late payments...
but then again, ain't this the american way???
Red Dawn
Elite Member
- Jun 4, 2001
- 57,529
- 3
- 0
The Right-wing smear campaign is amazing. They turned a group that seeks to help people vote into SPECTRE.
Red Dawn
Elite Member
- Jun 4, 2001
- 57,529
- 3
- 0
Well definitely not in this case.Originally posted by: CPA
Actually, neither, since I don't listen to them. Clarification found. Thanks. I still don't care for ACORN or their methods
Just a thought, since a lot of these foreclosures are just sitting vacant maybe they (the banks) can lease them to the ex homeowners are a reduced price until a buyer is found? Put it in the lease that when that happens the occupants have 60 days to move and if they don't they'll be evicted by the Sheriff;s Dept.
rudder
Lifer
- Nov 9, 2000
- 19,441
- 86
- 91
zerocool84
Lifer
- Nov 11, 2004
- 36,041
- 472
- 126
I've said something to this degree in other threads and people blamed the lenders not the people getting the loan. It's stupid not to think that lenders want to make money. It's the person taking out the loan that has the responsiblity to be educated. Stupid people making stupid decisions is the reason why we are in this home debacle. All these people getting home loans that they couldn't even afford in the first place and not thinking ahead of today.
Zebo
Elite Member
- Jul 29, 2001
- 39,398
- 19
- 81
Is their any doubt in your mind we are not fucked as a nation? Total disregard for rule of law e.g. democracy and a total feeling of entitlement and there are tons of people out there like this.
Funny enough, I would not have issue with this is we made a law, like a new homestead act for these empty homes and the poor to get them, but have no sympathy for theft and vandalism from others being called civil disobedience.
Funny enough, I would not have issue with this is we made a law, like a new homestead act for these empty homes and the poor to get them, but have no sympathy for theft and vandalism from others being called civil disobedience.
What kinds of backwoods idiots are these that don't understand that when you take out a mortgage you pledge the house as collateral? You don't make your payments, you don't get to keep the house and it's no longer yours. Simple concepts are lost to those ignorant enough to believe they are entitled to something that they didn't pay for.
America is pretty f***, entitlement is expected from Wall street down to average citizen's street.
Zebo
Elite Member
- Jul 29, 2001
- 39,398
- 19
- 81
Oh I agree Babylon5 - I use the term deadbeats, and I mean top to bottom we are busting with deadbeats. #1 problem in USA.
This will have some serious unintended consequences - such as, no more mortgages or rates of 35% because banks won't want them on the books. Then no one gets a house unless they saved and paid cash for it. Lower income people can forget about it. No more buying McMansions either, but a 800 sqft house will do fine for 95% of us. That will destroy construction industry, where low income work, once and for all.
So this guy starts the thread with this little doozy:
Throws in a little this:
And then proceeeds to say this:
Is this normal behavior or is this guy "special?"
Throws in a little this:
And then proceeeds to say this:
Is this normal behavior or is this guy "special?"
No, I'm just in a particularly good mood today.
Let us know if you get foreclosed OC, I'll help you break back in, because I care about you.
Let us know if you get foreclosed OC, I'll help you break back in, because I care about you.
frostedflakes
Diamond Member
- Mar 1, 2005
- 7,925
- 1
- 81
There is such a thing as paying rent instead of over-extending oneself with a mortgage.
Situations like this are usually more the borrower's fault. They get greedy and lie to the bank about how much they earn and such. Then, they walk away from the loan. IMO the banks are more honest then the greedy people foreclosing on their loans simply because their house has dropped in value and it's not a good investment anymore.
It's not like the banks are going into people's homes and pushing loans on them. These people are going into the bank looking for money that they don't have. IMO the banks are just stupid for giving it to them.
Were bank managers being held at gun point ?
I wont remove part of the burden on the home buyers who IMHO should be held accountable. Yet come on these banks were not staffed by high school drop outs hustling loans from the back of a truck in a dark alley. These were highly educated business people who knew the mess they were creating by allowing these loans to be approved. These banks knew what was going to come back to them when all these less then credit worthy home owners would enviably default on their loans or when the re-bundled failed/potentially failing mortgages they sold to other banks would cascade back into the system.
Of course let me also point out that there are/were many other banks ( mostly smaller banks ) who did not rush out stumbling all over themselves to make bad loans to people who could not pay for a home in the long term.
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