G –
The difference is – I am the cleaner – not a maker of the mess….There is always a buyer and seller in every transaction. I am not asking for anyone’s help or crying foul.
Capitalism is a tough business – socialism is for the weak minded and those of the herd mentality.
Dog 
just havin’ some fun 
LOTS of monies being made the past few years, for those with the nuts and the guts 
I agree that it really sucks watching others get bailed out for stupid decisions, but unfortunatly it’s probably necessary to forgive and forget if we’re ever going to get the economy growing again.
Something that I haven’t heard much about yet are student loans… There are tons of 20-30 somethings with thousands/hundred’s of thousands of $$ in student loan debt who can’t find a job or are working for much less than they had expected. The next big debt forgiveness will be student loans. I’m not saying, I’m just sayin…
Quote:
I agree that it really sucks watching others get bailed out for stupid decisions, but unfortunatly it’s probably necessary to forgive and forget if we’re ever going to get the economy growing again.
Something that I haven’t heard much about yet are student loans… There are tons of 20-30 somethings with thousands/hundred’s of thousands of $$ in student loan debt who can’t find a job or are working for much less than they had expected. The next big debt forgiveness will be student loans. I’m not saying, I’m just sayin…
Time to think about why that big student loan debt even exists – and the high costs of education….
Do you think for a minute – if the government did not back the student loan game – that colleges could charge up to $50k per year?
Trust me – that music stops and college educations come crashing down, too.
This is still a bubble that has yet to explode. The music will stop when kids realized that shelling out $200k for an uncertain job market makes no sense. Can’t keep feeding the pig. This is about 3 years away. Stay tuned.
Dog
Quote:
….. I was up side down on value (just like 80% of the population)…..
Only about 20% of Americans even have a mortgage, so fewer than that are upside down.
Quote:
Quote:
I agree that it really sucks watching others get bailed out for stupid decisions, but unfortunatly it’s probably necessary to forgive and forget if we’re ever going to get the economy growing again.
Something that I haven’t heard much about yet are student loans… There are tons of 20-30 somethings with thousands/hundred’s of thousands of $$ in student loan debt who can’t find a job or are working for much less than they had expected. The next big debt forgiveness will be student loans. I’m not saying, I’m just sayin…
Time to think about why that big student loan debt even exists – and the high costs of education….
Do you think for a minute – if the government did not back the student loan game – that colleges could charge up to $50k per year?
Trust me – that music stops and college educations come crashing down, too.
This is still a bubble that has yet to explode. The music will stop when kids realized that shelling out $200k for an uncertain job market makes no sense. Can’t keep feeding the pig. This is about 3 years away. Stay tuned.
Dog
Ding ding ding 
Quote:
Quote:
Quote:
Long story short, I was up side down on value (just like 80% of the population), and was basicly turned away because every payment had been payed on time, so I didn’t qualify for interest rate reduction
. Talk about urine a guy off!!
Have you checked recently? The HARP 2.0 program is in effect, and you should be able to do it now. We were in the same situation–excellent credit, always paid on time, but because house values dropped so much, they wouldn’t refi us because we owed more than the house is worth. With HARP 2.0 taking effect now, we were recently able to refi from 6.625% to 4.000%.
I believe that this only applies to Fanny Mae Or Freddy Mac loans. Unfortunately I am in the same boat in that I have no late payments, credit score above 800, had over 60,000 in equity when i bought the house, and still can’t refi without a down payment.
There are also similar options for FHA loans. Just did a streamline no-cost refi to 4.25% on our FHA from 6.5%. FHA streamline does not require new appraisal and goes off the last appraisal on the home.
Quote:
Quote:
Based on my readings it was a poor choice to initiate the loans in the first place.
The banks hung themselves thinking home values would continue to climb and handed out money like candy on Halloween.
Now they’re stuck with a bunch of worthless properties that
they’ll get a nickel on the dollar if they sell.Don’t hate the players………..
Damned right I blame the players in this.
Just because a bank will loan you 400,000 on a 75,000 income does NOT mean you should sign the loan. I could have had a home loan that buried me – and the banks would have allowed it, but I am not SO DUMB as to think I could afford a massive payment on my salary.
T
What about us that have made more than 75,000 a year per house hold. Had an excellent job good benefits, then all of a sudden the rug is pulled out from underneath you. $30,000 dollars in savings out the door, not to mention the retirement that went with it. It is not just dead beats that are being bailed out, there are hard working people that will benefit from this too. Yeah, we could pull the old trick of filing bankruptcy and getting out scott free, but my pride and the upbringing I had taught me to do better than that. Now 3 years later we are doing good and have been fortunate to find another good paying job with benefits. With that being said we are hiring people where I work now… The place of work is near St. Peter Mn any looking for a job fell free to PM me….
Let me know when they start a program for a white, single, father who rents. Seems like I fell through the cracks when it came to teat sucking.
ps. You people are all moochers.
I just found out our loan, which has bought and sold several times, with JP Morgan Chase is NOT backed by FANNIE OR FREDDIE therefore we don’t qualify or HARP 2.0. Chase obviously won’t refinance us because of the reduced house value. Currently at 5.75, there’s NOTHING we can do to refinance. Makes no sense
Are you sure? My checks go to chase mtge but they are just servicing the loan for freddie mac who owns it.
Btw, bank of america is guilty of poor due diligence. The majority of their loan troubles come from their acquistition of countrywide.
That’s what I was told by a mortgage friend of mine who tried enrolling us into the HARP program. Not all Chase accounts are owned by Freddie of Fannie. Sucks for me!
Quote:
Let me know when they start a program for a white, single, father who rents. Seems like I fell through the cracks when it came to teat sucking.
ps. You people are all moochers.
There is a program for you Pug… it’s called the Peoples Stadium !!! Sign up and let’s have some fun !!!
Quote:
There is a program for you Pug… it’s called the Peoples Stadium !!! Sign up and let’s have some fun !!!
Yes, begrudgingly yes. Wait, I don’t get any money from that.
My old company did realty websites. Our boss said all mortgages get bought by Freedie and Fannie, but I probably was not listening and taking his words as literal.
You must be logged in to reply to this topic.
