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From RG

post #1 of 31
12/31/11 at 1:03pm
Thread Starter 

"Thanks. Saw this had to
share.http://www.youtube.com/watch?feature=player_embedded&v=Tns3sljBvxU#t=4s
i would very much like it if you showed to the folks on SWF just so i
can see there response."

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post #2 of 31
12/31/11 at 1:18pm

Seen it.

 

I have so many ill feelings towards banks and the government... every time I watch something like this or turn on the news my blood pressure goes up.

 

I'm building my own house - and owning it in full the day I move in. Ain't nothing they can do about it then.

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post #3 of 31
12/31/11 at 1:22pm
Thread Starter 
Quote:
Originally Posted by SnakeBlitz33 View Post

Seen it.

 

I have so many ill feelings towards banks and the government... every time I watch something like this or turn on the news my blood pressure goes up.

 

I'm building my own house - and owning it in full the day I move in. Ain't nothing they can do about it then.

 

I like your way of thinking. I would also like to own my own house one day.

I don't need no banks suckin the life outta me.

 

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post #4 of 31
12/31/11 at 1:37pm

Yeah, everyone should save up so they can pay cash for their houses.  That will show them! 

 

Seriously, you guys have an issue with a 5% interest rate on a mortgage?  Or is it the issue of having to make payments the problem?  You want to government to give you a house?  What exactly is the problem here?  From my perspective, it you don't want to take out a mortgage then that's fantastic!  But why are you so down on this service?  Should they stop lending money for houses? 

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post #5 of 31
12/31/11 at 1:46pm

That has to be the dumbest thing I have ever seen.............

 

agree with Bangs questions to you guys......what????

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post #6 of 31
12/31/11 at 1:52pm
Quote:
Originally Posted by meowzer View Post

That has to be the dumbest thing I have ever seen.............

 

agree with Bangs questions to you guys......what????



+1

 

-and those two typed characters were more than the OP deserved

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post #7 of 31
12/31/11 at 1:53pm
Thread Starter 

My first post was simply an email from RG that he asked to share with y'all.

 

 

I do not have any problem with the service. I simply would like to own my own house one day.... just in case something happens and I couldn't make a payment... I would not like to have my house foreclosed. If I had saved up for a house, and had lost a job or something.... I wouldn't have to worry about losing my house. Sure, I may not be able to make a phone bill or whatnot, but I would still have my house... just IMO.

 

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post #8 of 31
12/31/11 at 2:01pm
Thread Starter 

Anyways, I am headed to a New Years Eve Dinner/Party... and won't be back till the AM.. so don't update all of the threads too much... haha... happy new years to everybody!

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post #9 of 31
12/31/11 at 2:50pm

The occupy people have completely blown it. I suspect most of those still involved are the bunch on know nothing kids that always tear up everything when the G8 meets.

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post #10 of 31
12/31/11 at 3:28pm

Banks won't approve me for a mortgage at 5% interest after I declared bankruptcy.

 

What bothers me is banks that gave mortg@ges to people that they knew couldn't afford it and then once they are settled in to their new home and miss a few payments - they take them away, ruin their credit and make life even more difficult.

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post #11 of 31
12/31/11 at 4:36pm

20 years ago 10% was a good rate.and yep i am building my house starting next month ,rent now build as i make the money.my land is owner finance at 6% .not bad

i read after tomorrow the gov't is adding alot more taxes for new homeowners.suckers lol

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post #12 of 31
12/31/11 at 5:04pm

Happy New Year RG!

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post #13 of 31
12/31/11 at 5:35pm
Quote:
Originally Posted by SnakeBlitz33 View Post

Banks won't approve me for a mortgage at 5% interest after I declared bankruptcy.

 

What bothers me is banks that gave mortg@ges to people that they knew couldn't afford it and then once they are settled in to their new home and miss a few payments - they take them away, ruin their credit and make life even more difficult.



If they couldn't afford the house then why did they buy it?

 

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post #14 of 31
12/31/11 at 5:43pm
Quote:
Originally Posted by Bang Guy View Post





If they couldn't afford the house then why did they buy it?

 



EXACTLY!!!!.....so many people live above their means......you can not always blame the bank because THEY (the consumer) bit off more then they can chew

 

and YES.....you miss payments....you lose stuff......

 

 

 

 

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post #15 of 31
12/31/11 at 7:14pm

it wasnt the bank.it was apraisers putting too high of a worth on the house.but mostly the first company that approved the loan (broker) knowing fannie mae will buy it from them.they were win win.sure they are out of business now.but they made a fortune.most people got the 2 year arm.sure they figured they would refinance before the arm hit.well most could not and this is what happened.

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post #16 of 31
12/31/11 at 7:23pm
Quote:
Originally Posted by SnakeBlitz33 View Post

Seen it.

 

I have so many ill feelings towards banks and the government... every time I watch something like this or turn on the news my blood pressure goes up.

 

I'm building my own house - and owning it in full the day I move in. Ain't nothing they can do about it then.

Don't pay your taxes.....There gonna get it.....You never really own it!!!!!!!
 

 



Quote:
Originally Posted by Bang Guy View Post





If they couldn't afford the house then why did they buy it?

 

100% so true!!!!!!!!
 

 

 

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post #17 of 31
1/1/12 at 5:30am

Ridiculous. The banks didn't force anyone to sign a mortgage. It's on the consumer to know whether or not they can afford a house payment, not the bank. If people didn't do their own homework about the types of mortgages offered, that is their own fault.

 

When my wife and I bought our house we were approved for a 450k mortgage. We did the math ourselves and knew there was no way we could afford those payments no matter what the banks said. Nso, we spent 280k instead, got a smaller house, and are very comfortable financially now because WE were smart about it.

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post #18 of 31
1/1/12 at 6:54am



 

Quote:
Originally Posted by SnakeBlitz33 View Post

Banks won't approve me for a mortgage at 5% interest after I declared bankruptcy.

 

What bothers me is banks that gave mortg@ges to people that they knew couldn't afford it and then once they are settled in to their new home and miss a few payments - they take them away, ruin their credit and make life even more difficult.

 

I declared bankruptcy 4 years ago. I won't go into detail but it was after a divorce. I rented my house with an option to own, I never missed a rent payment for 3 years and was never late. Now my landlord holds my mortgage 1% interest, the papers were signed this past October. Being responsible has it's rewards. My rent was $1075.00 and my mortgage is $800.00 with escrow....but I have no children to care for, and a small two bedroom house is plenty for myself and my mother to live in comfort.

 

Nobody can predict the future, people get sick, spouses die (why Mother declared bankruptcy) and folks lose their jobs to downsizing. You have to miss a year of payments before banks foreclose, they don't want your house...they want their payment for the house.

 

Taxes are a necessary evil. Times are hard all over, but you have to live someplace, and pay either rent or mortgage...or just taxes on the property, there are no free rides. Sometimes life kicks you in the teeth....you have to get up, shake it off, regroup and move on. Life is what you make it.

 

 

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post #19 of 31
1/1/12 at 8:34am

 

I think the Occupy crowd related to this video is trashing banks because of their part in the housing collapse, not that banks don't have a right to expect payments for mortgages.  That is not the point at all.

 

BOA received BILLIONS in US government bailout money to cover their bad decision to buy Merrill Lynch and indulge in unscrupulous activities contributing to  the housing collapse (and many people loosing their homes—which the banks foreclosed on).  Why did BOA buy over its head, and, more important, why wasn't it allowed to go bankrupt and fail instead of the USA government (tax payers) throwing billions at them to prop them up again?  If individuals buy over their head and get foreclosed on, why not BOA?  That is the point of this sarcastic video.

 

There is no reasonable answer to that question.

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post #20 of 31
1/1/12 at 8:45am

I agree Beth, B of A should not have received a bailout.  If they feel the need to protest the situation I applaud them.  I do not understand why they are protesting the banks instead of their government representatives though.  How many people here would turn away a bailout from the government instead of bankruptcy?

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