Obama's homeowner rescue unfair

[nearlyinvisible]

Nearlyinvisible seems to HAVE alot of money.
I mean, an attorney and financial advisors?? Either your in your 50's and doing well or your a trust fund baby.
Either way, get off your high horse!

I lost my house, my truck, and my credit rating when I lost my job a year and a half ago. Are you gonna tell me its MY fault?

If you don't have the skills or the education for another employer to want you, indeed that is YOUR fault. If you have valuable skills or a good education there will always be demand for your work. Even if you lose your job, somebody else will want to hire you because you would be valuable to their company.

I worked hard in 8 years of college and I have a good job. I am by no means the smartest guy in the world and if could earn the education and get the good job, then certainly you could too. The difference between you and I is that I did it and you didn't.

With that said, I do feel for your situation and hope that you can find something better soon.

 

[BigHurt35]

So, you mean like 99%+ people that have bought a house in the last couple of generations, and almost that many that have bought a car? I can't think of a single person I know that has bought a house without any loan whatsoever. The only people I see being able to do that are old people that have a huge amount stashed away late in life (Of course, they are old and the need for a home the rest of their life is less by that point anyhow.) or the wealthy. Saving up a couple hundred thousand dollars when you need a place to live isn't very practical. Being able to reliably project the fact that your not going to loose your job in the next 30 years or that the economy won't fall of a cliff after a person receives a loan is pretty much impossible also.

I'm not denying that most people rely on loans to buy large items, such as cars and houses. I'm saying that people are being idiots when they agree to a loan that they can't afford to pay back.

For example:

Let's assume that you make $35,000/year. That equals out to be about $2,917.00/month.

Let's say that you attempt to purchase a $400,000 home and get accepted for a loan to help you. Let's say that the loan you were accepted for requires you to pay it back in monthly installments of $1,100.00/month.

Your mortgage payment alone is a little more than 1/3 of your income. You would also have a ton of other expenses on top of that, which would easily suck up the other 2/3 of your income (car payment, car insurance, gas for your car, car maintenance, utilities such as gas, electric and water, health insurance, food, clothing, toiletries, medical and dental visits, school related expenses such as fees and school supplies (if you have kids), credit card bills, taxes, etc)

After paying all of that, you wouldn't have money left to save. Actually, you would probably be deeper in debt, as you wouldn't be able to afford it all in the first place.

So, if you are stupid enough to think that you can afford all of that on the income you earn and you can't make your payments, it is nobody's fault but your own.

 

[stampede2873]

If you don't have the skills or the education for another employer to want you, indeed that is YOUR fault. If you have valuable skills or a good education there will always be demand for your work. Even if you lose your job, somebody else will want to hire you because you would be valuable to their company.

I worked hard in 8 years of college and I have a good job. I am by no means the smartest guy in the world and if could earn the education and get the good job, then certainly you could too. The difference between you and I is that I did it and you didn't.

With that said, I do feel for your situation and hope that you can find something better soon.

That is the most LEFT handed slap in the face I have ever recieved. You know nothing about me and yet you feel it necessary to say that its my fault.

I swear, some people on freeones .....................

People wonder why some of the best leave this board, they're tired of the egos. I know I'm one of them.

 

[Nester6]

If you can't pay your mortgage, you should be homeless.

If your company is bankrupt, your company shouldn't survive.

America grants us freedom. It's up to the citizens to be responsible with that freedom. It's should not be the government's job to to bail out those that are not responsible. People need to be responsible for their decisions and pay the price when they make poor decisions.

Bravo! Now that's a stimulus package!

 

[Kingfisher]

Now keep this in mind, this is just my :2 cents:

The people that bought homes with zero-down and fucked over credit, thinking that they could buy a 600k home and swing 5 grand a month mortgages are a portion of the problem that we all sit in now. The other portion of the problem are the loan officers/bankers. So influenced by greed and the rampant selling of mortgages, that they should be punished to the most severe measures. Now we give them a bailout and now they have the money, now they won't give out credit. Fucking idiots. Now if also have 7 kids and 2 brand new cars and the latests toys with a huge mortage, you deserve that one. Think about the future and don't live beyond your existing means.

You know while I'm at it...

The stock market. Those fucking morons. They hear one fucking rumor and they panic and sell off, fucking me in the ass. Thanks asshole. You need to die. It's great taking a numerical process and turning it into a emotional based process. I see one more wall street fuck stick driving around in a Ferrari, I'll go postal.

And how about the news media. "crisis", "crisis", "crisis", "crisis", "crisis"... fuck if you start to hear something enough, because you're a lemming, you start to believe it. And the majority of the public and a lot of those fuck-sticks on wall street are lemmings hear that and panic. Granted there is a problem, a big problem, but if someone had walked over to the news desk at CNN and back fisted someone when they started saying something, instead of going for the hype, people might be a little more relaxed. A portion of the general public, needs to be kept in the dark for gods sake. That's the same portion of the public that also shouldn't be spitting out babys like chiclets.

Big business. You assholes listening? Stop laying off people, make better products, instead of rehashing the same old shit and expecting the consumer to buy it. Take for example Circuit City. #1 piss poor service. No one likes that. #2 shitty prices. While they were going under, they dropped thier prices on LCD TV'S by 25%. They were still more expensive than a comparable model at Cost co! And guess what, I don't want to buy something from circuit city, because you're going under, and if it breaks where do I return it. How about this for a fucking concept. Keeping people employed, and working, makes them happy (for the most part) and then they spend money, which works its way back into the economy. What a concept huh? When you lay people off, they pull back into emergency spending. Dumbasses! Car companies. If you take 6 years to make a new car model, no one wants it... Because it looks like 6 years ago.

Health Care companies. You fuckers are just evil. I spit on you.

There's a lot of people that just need to fall into a woodchipper feet first.
Let me also say, I have a mortgage, I've never missed a payment, I have a job, I have a kid and a ex-wife. And I take care of my kid.
Of course reading my little rant abolishes me from any sort of blame, as it's just my opinion.

 

[don_equis]

Crush the socialist! eat their waffles!

 

[meesterperfect]

I would like, love to see the criteria regarding WHO gets help and who doesn't.
what are the factors THEY consider?
Sex? skin color? past income? past employment? education? children?
I'm curious to see if we are all equal under Obamas rule.

 

[georges]

thanks for sharing

 

[BigHurt35]

I don't know if anybody watched Obama's Congressional Address last night, but when he was talking about the home loan crisis, he said, and I quote...

"People bought homes they knew they couldn't afford."

Yes, he also mentioned that banks were pushing bad loans as well, but I'm glad he made a point to say that the people who were irresponsible wouldn't be getting any help with their mortgage.

 

[bodie54]

I don't know if anybody watched Obama's Congressional Address last night, but when he was talking about the home loan crisis, he said, and I quote...

"People bought homes they knew they couldn't afford."

Yes, he also mentioned that banks were pushing bad loans as well, but I'm glad he made a point to say that the people who were irresponsible wouldn't be getting any help with their mortgage.

Big Hurt, it seems you're unaware that it isn't cool to say anything positive about Obama. You'll get much more mileage out of dissecting what he said such that in some tortured way it validates a terrorist-sympathizing, anti-american, marxist, wahhabi muslim agenda

 

[CunningStunts]

I don't know if anybody watched Obama's Congressional Address last night, but when he was talking about the home loan crisis, he said, and I quote...

"People bought homes they knew they couldn't afford."

Yes, he also mentioned that banks were pushing bad loans as well, but I'm glad he made a point to say that the people who were irresponsible wouldn't be getting any help with their mortgage.

That's the problem I have with the Dems in COngress and the White House now... HYPOCRISY! They say that on the one hand, people need to be responsible, and on the other, let's help people who bought houses they couldn't afford! And on the one hand, shame on CitiBank and BOA for wasting money on bad investments and giving loans to people that didn't qualify, and on the other, here's a couple of hundred BILLION dollars!

I weep for the future... the government is encouraging people to just get dumber and dumber so that they can "run our lives" for us ... and if you fail, it's not YOUR fault, the government will bail out out! It's very sad to me... for in all this I see the death of responsibility in our country with every one of these bills being passed, along with China tightening the grip on our balls because they are paying for most of all of this money Congress is spending that WE DON'T HAVE!

It's a huge :thefinger to the responsible, hard working people of the USA IMO.

 

[BigHurt35]

Big Hurt, it seems you're unaware that it isn't cool to say anything positive about Obama. You'll get much more mileage out of dissecting what he said such that in some tortured way it validates a terrorist-sympathizing, anti-american, marxist, wahhabi muslim agenda

Yes, I'm noticing that in some other threads. I wasn't aware that this forum was full of McCain/Palin supporters. Either that, or this is really RacistOnes, not FreeOnes.

 

[CunningStunts]

Yes, I'm noticing that in some other threads. I wasn't aware that this forum was full of McCain/Palin supporters. Either that, or this is really RacistOnes, not FreeOnes.

That's the way to kill debate and dialogue... if anyone doesn't agree with you, call 'em a racist.

 

[Member2019]

Hate crimes against Republicans, non-Republicans, anyone you disagree with but ...

Yes, I'm noticing that in some other threads. I wasn't aware that this forum was full of McCain/Palin supporters. Either that, or this is really RacistOnes, not FreeOnes.

That is as much of a hate crime as using the "N" word.

To accuse people of racism because of mere economic, social or political affiliation, disagreements with the President who is black, etc... without any justification, rationale or remote consideration is the very definition of a "hate crime."

If you want to see a great example of "hate crime" in reverse, systematic and with utter, total hate, I urge you to read up on what happened to the Duke University LaCrosse Team. Even when influencial minorities started to disagree with what "the group" was saying, and tried to speak out, they were threatened with professional suicide. Sounds like exactly how people were treated when concerned, white citizens tried to speak out on civil rights in their community, only now in reverse, "the group" threatens their livelihood.

Don't add to it. It's hate, pure and simple, to accuse people of racism just as much as it is to be a racist and make hateful statements, without any justification or proof.

 

[BigHurt35]

Re: Hate crimes against Republicans, non-Republicans, anyone you disagree with but ..

That is as much of a hate crime as using the "N" word.

To accuse people of racism because of mere economic, social or political affiliation, disagreements with the President who is black, etc... without any justification, rationale or remote consideration is the very definition of a "hate crime."

If you want to see a great example of "hate crime" in reverse, systematic and with utter, total hate, I urge you to read up on what happened to the Duke University LaCrosse Team. Even when influencial minorities started to disagree with what "the group" was saying, and tried to speak out, they were threatened with professional suicide. Sounds like exactly how people were treated when concerned, white citizens tried to speak out on civil rights in their community, only now in reverse, "the group" threatens their livelihood.

Don't add to it. It's hate, pure and simple, to accuse people of racism just as much as it is to be a racist and make hateful statements, without any justification or proof.

It's called a sense of humor. They're quite popular now-a-days.

I wasn't calling anybody a racist. It seems that most people here dislike Obama and I was simply making a joke about it.

 

[Member2019]

It's all Democrat, end-to-end, now ... (and has been in Congress for years)

It's called a sense of humor. They're quite popular now-a-days. I wasn't calling anybody a racist.

Okay, maybe I read too much into it.

It seems that most people here dislike Obama and I was simply making a joke about it.

I don't see it that way. There are a lot of Obama and Democrat fanboys on the board. It's a porn board. It's expected to be more left-leaning, especially after you figure in ages, jobs, etc... I know I'm pretty much a "minority" being a traditional engineer (I'm not talking a tech or what the overwhelming majority of people think an engineer is).

However, now that the Democrats have control of both Legislative and Executive, absolutely, there are major expectations. The Legislative has failed for 2 years, sinking Congressional approval ratings to match the former President's (and much worse than the former, Republican Congress at any time in recent history IIRC). Now Obama is feeling it.

A lot of people feel he's got no excuse, a completely, one-sided party in power, end-to-end (other than maybe Supreme Court appointments, but they tend to be at least Libertarian leaning on individual freedoms regardless of their capitalism v. socialism views).

Ironically, you're now seeing the Republicans re-adopt their attitudes of post-1992 as the minority leadership with no Executive. More and more, even if some people think I'm sadistic, it's looking like there may be a Republican move in 2010, or by 2012 (although I hope not the President in 2012 instead of Congress).

 

[ChefChiTown]

I'm just glad that Obama doesn't plan on giving EVERY troubled homeowner assistance. Well, at the moment anyway.

At least he made a point to say that all of the stupid idiots who knew they couldn't afford their home in the first place wouldn't be getting help.

 

[Member2019]

I'm just glad that Obama doesn't plan on giving EVERY troubled homeowner assistance. Well, at the moment anyway. At least he made a point to say that all of the stupid idiots who knew they couldn't afford their home in the first place wouldn't be getting help.

That's a lot of stupid idiots.

But yes, it does help those who can be helped. But it won't end the crisis.

 

[fatphil]

The banks should make an effort to work with the home owners. If they can keep in then the house and getting something from them, that's better than nothing. If they have to foreclose and sell the house, they will only get a fraction of the value. Same with if they sell the mortgage to another company or the government.

If the banks can help the homeowners stay in the homes, like by lowering their payments for the next few years, or extending the loan out, then the mortgages will be worth more down the road. We don't need the government to help; we need managers to make tough and smart decisions.

 

[The Paulinator]

Offer assistance along the lines of a deferred payment or two. Maybe look into creating 40 year mortgages, or possibly longer (people do live longer and houses are a higher percentage of earned income now).

Got an interest-only loan you can't even afford? Pack up and leave under a nothing gained, nothing lost agreement (I'm sure banks and government can work out something about this)

Those who lied on loan applications should, conversely, be evicted and prosecuted for fraud.

That's The Paulinator's bailout proposal.

P.S. DJI up over 8000 today That's the first indicator of recession recovery, though it could be 8-10 mos away.