gliderjohn
Member
Very sad story.
http://www.propeller.com/story/2008/...683x1200662273
http://www.propeller.com/story/2008/...683x1200662273
The Bailout helps Wallstreet but not people in foreclosure.
- Thread starter gliderjohn
- Start date
veni vidi vici
Active Member
If i hear one more politician say they can relate to "Main Street" I'm going to vomit.The truth is they are politicians that caused this mess and they don't know the difference from "Main Street" and Sesame Street.
Well here is a preview of what they helped create.Welcome to "Real Street" Washington .I think ill go be sick now.
Well here is a preview of what they helped create.Welcome to "Real Street" Washington .I think ill go be sick now.
reefraff
Active Member
Fanny may (WE the taxpayers) gave her the house. Not renegotiated the terms, forgave the remainder of the 30 year loan she took out in 2004. I hope she doesn't go out and borrow on it again. WHat really bugs me about this is some scum bag relative who should have done something to help the old lady out so she could make the payments will end up inheriting the house free and clear
nordy
Active Member
My concern here is that taxpayers-that's you and me by the way, are having to pay for the mistakes that many people made in taking out mortgages that they could not afford to pay off, knew that they could not afford to pay off, yet did so anyway. I resent having to pay for an individuals personal bad decision, whether they are 90 years old or 30 years old. Didn't that lady ever hear of a reverse
[hr]
, where you get cash out, and get to live in the house for the rest of their natural life? That would have been a good bet for a lender to take on seeing as how she was 90 years old. It could have been good for her and good for the lender. Didn't she have any family members that could advise her on financial issues? Didn't she have the sense to read and understand exactly what she was getting herself into when she took out that
[hr]
?
Also, I am tired of hearing about the poor people who were victimized by Countrywide or some other unscrupulous lender. Didn't those people read and fully understand the loan document that they signed? If they did not, regardless of whether or not a bank was taking advantage of them, then they deserve absolutely no pity from me. Or, any of my hard earned tax dollars as well. I hear so many people surprised that payments on their no interest home loan may double when they have to refinance after a few years, or the introductory teaser rate doubles and they can't make the payments anymore. Well, too bad folks-you signed the loan document, you made the deal, and now your credit is trashed, you lose your home, and now find yourself out on the street? Too darn bad. Cruel? Heartless? Exceedingly cold? Oh yeah, you can call me that if you want, but it is not my fault that millions of people made exceedingly bad decisions, nor should it be my responsibility to bail people, as well as banks and other financial institutions out of the consequences of those bad decisions. I work darn hard, I pay my bills, I don't take on credit obligations that I can't comfortably pay off, and get this-I read and I understand any loan, credit, lease, insurance, or other important document BEFORE I SIGN IT!
I just paid off the 60 month loan on my truck and the bank wants me to take out another loan and get me behind the wheel of a nice shiny new truck so bad. Won't do it, don't need to, the truck is in great shape with only 50K miles on it, and I just don't want to take on any new debt right now.
Banks and lenders only take advantage of people who allow themselves to be taken advantage of. It is a shame that they do so, and makes then look like bottom feeders of the very lowest type, but nobody at that bank physically forced an individual to sign a off on a home loan that they could not afford. Period, end of story.
[hr]
, where you get cash out, and get to live in the house for the rest of their natural life? That would have been a good bet for a lender to take on seeing as how she was 90 years old. It could have been good for her and good for the lender. Didn't she have any family members that could advise her on financial issues? Didn't she have the sense to read and understand exactly what she was getting herself into when she took out that
[hr]
?
Also, I am tired of hearing about the poor people who were victimized by Countrywide or some other unscrupulous lender. Didn't those people read and fully understand the loan document that they signed? If they did not, regardless of whether or not a bank was taking advantage of them, then they deserve absolutely no pity from me. Or, any of my hard earned tax dollars as well. I hear so many people surprised that payments on their no interest home loan may double when they have to refinance after a few years, or the introductory teaser rate doubles and they can't make the payments anymore. Well, too bad folks-you signed the loan document, you made the deal, and now your credit is trashed, you lose your home, and now find yourself out on the street? Too darn bad. Cruel? Heartless? Exceedingly cold? Oh yeah, you can call me that if you want, but it is not my fault that millions of people made exceedingly bad decisions, nor should it be my responsibility to bail people, as well as banks and other financial institutions out of the consequences of those bad decisions. I work darn hard, I pay my bills, I don't take on credit obligations that I can't comfortably pay off, and get this-I read and I understand any loan, credit, lease, insurance, or other important document BEFORE I SIGN IT!
I just paid off the 60 month loan on my truck and the bank wants me to take out another loan and get me behind the wheel of a nice shiny new truck so bad. Won't do it, don't need to, the truck is in great shape with only 50K miles on it, and I just don't want to take on any new debt right now.
Banks and lenders only take advantage of people who allow themselves to be taken advantage of. It is a shame that they do so, and makes then look like bottom feeders of the very lowest type, but nobody at that bank physically forced an individual to sign a off on a home loan that they could not afford. Period, end of story.