so i can stay in my house even if i owe more than its worth?
02-18-2009, 12:32 PM
#1
so i can stay in my house even if i owe more than its worth?
http://news.yahoo.com/s/ap/20090218/...e_foreclosures
my house cost 326k
at the time i could afford it
but my loan was ****ed up
they should never have given it to me
fast forward to 07 i have to refi my house
now its up to 385
i cant afford that
but they still refi me
: after 2 years of struggling
: a relief is welcome
i think obama wants to make it so house's should be within 31% of the household income
if thats the case for me and lisa our montly payment would be 1300
currently we pay 2900
and our debt will never go away since all we can do is pay the minimum
my freinds situation
my house cost 326k
at the time i could afford it
but my loan was ****ed up
they should never have given it to me
fast forward to 07 i have to refi my house
now its up to 385
i cant afford that
but they still refi me
: after 2 years of struggling
: a relief is welcome
i think obama wants to make it so house's should be within 31% of the household income
if thats the case for me and lisa our montly payment would be 1300
currently we pay 2900
and our debt will never go away since all we can do is pay the minimum
my freinds situation
02-18-2009, 04:00 PM
#2
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Originally Posted by article
Obama emphasized that his plan focuses on helping families who have "played by the rules" stay in their homes.
But, he said, it will do nothing to help "the unscrupulous or irresponsible." He cited so-called speculators who took out risky loans on multiple properties to make money by selling them during the housing boom, lenders who took advantage of naive buyers by glossing over the fine print, and people who willingly bought homes that were way beyond their means.
But, he said, it will do nothing to help "the unscrupulous or irresponsible." He cited so-called speculators who took out risky loans on multiple properties to make money by selling them during the housing boom, lenders who took advantage of naive buyers by glossing over the fine print, and people who willingly bought homes that were way beyond their means.
but seriously though, my wife's gonna be out of work for about 5~6 months this year on maternity leave. I asked my lender if I could defer just one, maybe two, payments until the end of the loan to make that time a bit easier on us financially. their response was that if I let my account go 90 days past due they could help me out considerably, but since i'm current and in good standing there's nothing they can do.
guess who holds my mortgage...
02-18-2009, 04:01 PM
#3
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so i played by the rules. i got a 30 year fixed rate mortgage that i can easily afford. where's my monies?
but seriously though, my wife's gonna be out of work for about 5~6 months this year on maternity leave. I asked my lender if I could defer just one, maybe two, payments until the end of the loan to make that time a bit easier on us financially. their response was that if I let my account go 90 days past due they could help me out considerably, but since i'm current and in good standing there's nothing they can do.
guess who holds my mortgage...
but seriously though, my wife's gonna be out of work for about 5~6 months this year on maternity leave. I asked my lender if I could defer just one, maybe two, payments until the end of the loan to make that time a bit easier on us financially. their response was that if I let my account go 90 days past due they could help me out considerably, but since i'm current and in good standing there's nothing they can do.
guess who holds my mortgage...
02-18-2009, 04:49 PM
#6
so i played by the rules. i got a 30 year fixed rate mortgage that i can easily afford. where's my monies?
but seriously though, my wife's gonna be out of work for about 5~6 months this year on maternity leave. I asked my lender if I could defer just one, maybe two, payments until the end of the loan to make that time a bit easier on us financially. their response was that if I let my account go 90 days past due they could help me out considerably, but since i'm current and in good standing there's nothing they can do.
guess who holds my mortgage...
but seriously though, my wife's gonna be out of work for about 5~6 months this year on maternity leave. I asked my lender if I could defer just one, maybe two, payments until the end of the loan to make that time a bit easier on us financially. their response was that if I let my account go 90 days past due they could help me out considerably, but since i'm current and in good standing there's nothing they can do.
guess who holds my mortgage...
and see sex is the devil!!!!!
suerp JK congrats on the baby
02-18-2009, 11:30 PM
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I am thoroughly disgusted with his stimulus plan and I'm surprised how many of my peers are oblivious to current political events. This is what we can expect when people are stupid enough to keep voting for "professional politicians". Be careful what you ask for, because you just might get it.
02-19-2009, 07:50 AM
#11
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^Yep. Obama sure is living up to the Jimmy Carter type comparisons! Hype is not the kind of change I can believe in.
I am thoroughly disgusted with his stimulus plan and I'm surprised how many of my peers are oblivious to current political events. This is what we can expect when people are stupid enough to keep voting for "professional politicians". Be careful what you ask for, because you just might get it.
I am thoroughly disgusted with his stimulus plan and I'm surprised how many of my peers are oblivious to current political events. This is what we can expect when people are stupid enough to keep voting for "professional politicians". Be careful what you ask for, because you just might get it.
The president isn't a scape goat for this economy.
02-19-2009, 08:01 AM
#12
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The country was already ****ed before Obama did anything. Don't blame the government for attempting to keep the economy from falling off a cliff. It's the fault of home buyers with no money, banks handing mortgages to those people, and banks selling securities and trading these high risk mortgages at an alarming rate.
The president isn't a scape goat for this economy.
The president isn't a scape goat for this economy.
The gov't is doing not only nothing for the economy, but is actually hurting even more.
And in a round about way, Barry can be partially responsible, as he was one of the lawyers that sued to force banks into making bad loans.
02-19-2009, 08:14 AM
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And now it's moar ****ed...for many generations to come.
The gov't is doing not only nothing for the economy, but is actually hurting even more.
And in a round about way, Barry can be partially responsible, as he was one of the lawyers that sued to force banks into making bad loans.
The gov't is doing not only nothing for the economy, but is actually hurting even more.
And in a round about way, Barry can be partially responsible, as he was one of the lawyers that sued to force banks into making bad loans.
And it doesn't matter how certain somebody is about whether this will work or not, the truth is they don't know. All economists can do is rely on their models and make a guess. There's one big factor that prevents anyone from knowing, it's that nobody can see the bottom of this recession yet.
People can attempt to explain what's going to happen and play it off as fact, but it doesn't make it true.
There's also the likelyhood of nearly any president in this possition would have passed a similar bill. It's the last weapon the government has to keep consumer confidence from vanishing all together. People talk about having a revolt on Washington for this, but there's a better chance of that happening if Washington did not pass this bill and the systemic failure spread even further.
02-19-2009, 08:37 AM
#14
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Facts:
People made bad choices.
These folks "lost".
They are now being rewarded for bad behavior.
I'm jaded/pissed/annoyed for doing the "right thing".
People made bad choices.
These folks "lost".
They are now being rewarded for bad behavior.
I'm jaded/pissed/annoyed for doing the "right thing".