I think it's really great that you want to help folks who might have their homes forclosed. I mean, these people just used bad judgement and overextended, right? Helping them keep their homes is one of the reasons I pay taxes, isn't it? Just like I pay taxes so baby machines don't have to work and bank CEOs can get their annual bonuses.
By the way, I work at Target and my hours have been cut and I'm having trouble paying my rent. Where's my bailout?
Oh, that's right, The lower-middle class backbone of America doesn't rate any help.
“Please do not be cynical. I hate cynicism. Nobody gets in life exactly what they thought they were going to get. But if you work really hard, and you’re kind, amazing things will happen.” Conan O'Brien
Yeah I mean why try to help people refinance who are getting foreclosed on when you can just give it to bankers so they can have multi-million dollar bonuses and $400K corporate retreats.
KevinP (Stabby McShankyou) wrote:
and I'm NOT a pedo. everyone knows i've got a wheelchair fetish.
Harrington Esquire wrote:Yeah I mean why try to help people refinance who are getting foreclosed on when you can just give it to bankers so they can have multi-million dollar bonuses and $400K corporate retreats.
Its simple, you have to pay back those that funded you so that they will do it again next election.
Harrington Esquire wrote:Yeah I mean why try to help people refinance who are getting foreclosed on when you can just give it to bankers so they can have multi-million dollar bonuses and $400K corporate retreats.
I see your point, but all you're doing is telling those people that made stupid financial decisions they were ok in doing so. Furthermore implanting in their brain the govt will fix all and they do not need to be responsible for their own actions.
When I bought my house I was told I could easily afford a $200k loan. Seeing I am not a complete idiot, I knew that was not true, so bought a modest $100k house which I could afford. And if I were to get laid off, I could work 2 or 3 random jobs to still pay my mortgage. The point is people need to be held accountable for their actions, not trained that govt will solve your problems when YOU make a terrible decision.
Quote:
I work at Target and my hours have been cut and I'm having trouble paying my rent. Where's my bailout?
Go to college or go back to further you education and pay-grade? See another job and saveas much as possible? Cut back on daily expense?
Rather than complaining on JBO... go do something about it because your answere is NO, you will nto get one, the end.
" Aint nothin' but a Peanut!"
J03Y Esquire wrote: I see your point, but all you're doing is telling those people that made stupid financial decisions they were ok in doing so. Furthermore implanting in their brain the govt will fix all and they do not need to be responsible for their own actions.
Ain't that the truth. Well said.
“Please do not be cynical. I hate cynicism. Nobody gets in life exactly what they thought they were going to get. But if you work really hard, and you’re kind, amazing things will happen.” Conan O'Brien
J03Y Esquire wrote:Harrington Esquire wrote:Yeah I mean why try to help people refinance who are getting foreclosed on when you can just give it to bankers so they can have multi-million dollar bonuses and $400K corporate retreats.
I see your point, but all you're doing is telling those people that made stupid financial decisions they were ok in doing so. Furthermore implanting in their brain the govt will fix all and they do not need to be responsible for their own actions.
When I bought my house I was told I could easily afford a $200k loan. Seeing I am not a complete idiot, I knew that was not true, so bought a modest $100k house which I could afford. And if I were to get laid off, I could work 2 or 3 random jobs to still pay my mortgage. The point is people need to be held accountable for their actions, not trained that govt will solve your problems when YOU make a terrible decision.
So what did the Bush bank bail out do, tell bankers its ok to screw over the everyone in the US?
I agree there does need to be accountability for the idiots who have bought houses they cant afford, make the payments lower and make it to where you cant file bankruptcy on a house, they now have a 60 year loan. That is what they get for being stupid. Fixing the foreclosures problem is the key to fixing the economy, its not a stimulus package or a bank bailout. You make these people accountable for their actions, i.e. refi and no bankruptcy, all of the sudden all these loans are worth something again and instead of being worth nothing like they are now. That right there will prop up the banking system, the root of the banking problem is all the worthless home loans on everyones books. I don't know, the answer to me seems so simple.
KevinP (Stabby McShankyou) wrote:
and I'm NOT a pedo. everyone knows i've got a wheelchair fetish.
Well, the problem here wasn't just that people bought houses they couldn't afford. It was that people bought the only houses they could get. I don't know where some of y'all have been the last 6 or 7 years but rent and house prices have skyrocketed. In some cases, these "idiots" who boughts houses that are foreclosing got the only places within a hour or two's driving distance from their work because renting would have cost even more.
Lemme give you an example. I live in a hole. I'm not putting down the place I live... but it's a hole. In 1999 this was redneck heaven with much (IE: Most) of the population on welfare, three restaurants, one bar, one grocery store, one garage (that doesn't sell gas), a bank, and a corner store. That's IT. If you wanted anything else you'd have to drive 15-20 minutes over to the next town. We have no local police (The provincial police comes around once or twice a day, maybe). We have no stoplight. We have no video store. We have no entertainment of any kind. Cable internet doesn't go everywhere, cell phone reception is sh!t, and some place STILL have party line type phone systems. The only employement in the whole town is a huge chemical plant where I work as well.
So you see right away that this isn't exactly "Suburban Heaven". In fact, barring a "Go Away" sign there's not much else that the place can do to be unnapealing to house hunters from the edukated multicultural city.
My mom bought a house here for 23,000$ in 2001. Last year it was valued at 100,000$ Back in 2001 home prices were around 50-60 grand, now they're 150 to 200,000$ Rent used to be about 250-350$ a month, now it's 550 to 700$. And it's not just here, but the whole county that seems to have lost it's freakin mind. Prices of everything just kep going up and up and up.
Now, finally, some of the idiots who bought these overpriced homes are leaving because they've realized that everyone around here is a deranged redneck, that the quality of the snow removal service depends on how drunk the plow driver is, that cops NEVER come here unless there's a domestic disturbance, and that THERE'S NOTHING TO DO. However, they're still trying to get the hefty insane prices they got for the shacks they bought over here, which is making me laugh my ass off.
Anyway, the point I'm trying to make is that if I want to keep working where I am now. I need to live close by and I can either choose to pay a hefty rent or morgage or live further away someplace cheaper and squander an even bigger amount of money on gas and car repairs. See the problem(s)?
Two of the most important and essential purchases people make are houses and cars and if the prices of either of these is too high for the amount of money that the person makes while at the same time being almost essential to buy, then you are going to see a HUGE market collapse.
It's like if suddenly food cost 20 times more. People would still have to buy it. They'd borrow and overextend themselves and eventually go bankrupt trying to obtain that neccessity. A house is likewise a neccessity and I'm betting a lot of people who are now facing foreclosure had little choice on wether to buy a place or not.
This is also why I think Bama's plan is GIGANTIC crap, because it is trying to KEEP house prices high. House prices need to go down. You wanna truly help people? Forgive their debt but repossess their house. That way the prices will go down because who else is going to buy the damn things now? When prices go down, so will rents and that way everyone won't have to spend every dime they have on rent or morgage. Which is what's caused and is fueling this crisis. People have no money to squander on anything else and the economy ain't rolling.
J03Y Esquire wrote:Quote:
The latter part of the twentieth century has permitted the acceptance of the
idea that "society" owes everyone a living. Vandalism by many is no longer seen as a
crime, but only as an opportunity to get what is deserved or owed to them. Once the
principle of government wealth-distribution is accepted at face value, it is logical to
expect some individuals to bypass the slow-moving bureaucracy, especially in a time
of crisis, and take what they claim is rightfully theirs.
This principle is the reverse of Frederic Bastiat's moral law. Bastiat stated that
a law is immoral if it does something that an individual himself is not allowed to do
(such as transfer wealth from one to another). Once we accept, as we have these past
75 years, that it's a proper function of government to transfer wealth, it's not difficult
to understand the "logic" of the vandal who breaks windows during storms, floods, or
power outages and takes whatever he needs without a sense of guilt.
- Dr. Ron Paul, 1988
ron paul FTMFW! glad to see youve been doing your reading.
for those of you who want to read some common sense, check out
FREEDOM UNDER SIEGE
Here in NE Ohio there are plenty of affordable houses. The problem is that the morons all want to live in mini mansions. My mom has a beautiful 4 bedroom 2 1/2 bath on 3/4 of an acre that she can't sell for what it's worth because it's to small. You should see the mega houses on mini lots they are (still) building around here. It's absurd. These bozos have these huge houses and no furniture inside them because they can't afford to buy any. It's been a local joke for years.
“Please do not be cynical. I hate cynicism. Nobody gets in life exactly what they thought they were going to get. But if you work really hard, and you’re kind, amazing things will happen.” Conan O'Brien
LiTCaV (The Bright One) wrote:Quote:
I work at Target and my hours have been cut and I'm having trouble paying my rent. Where's my bailout?
Go to college or go back to further you education and pay-grade? See another job and saveas much as possible? Cut back on daily expense?
Rather than complaining on JBO... go do something about it because your answere is NO, you will nto get one, the end.
I think he "may" have been being a little sarcastic.....
Just a little though...
(Ron Paul would have Won, if the election would have been HONEST.)
Chris
"An appeal to arms and the God of hosts is all that is left us. But we shall not fight our battle alone. There is a just God that presides over the destinies of nations. The battle sir, is not of the strong alone. Is life so dear or peace so sweet as to be purchased at the price of chains and slavery? Forbid it almighty God. I know not what course others may take, but as for me, give me liberty, or give me death."
Speech at the Second Virginia Convention at St. John's Church in Richmond, Virginia (23 March 1775) Patrick Henry
Taetsch Z-24 wrote:LiTCaV (The Bright One) wrote:Quote:
I work at Target and my hours have been cut and I'm having trouble paying my rent. Where's my bailout?
Go to college or go back to further you education and pay-grade? See another job and saveas much as possible? Cut back on daily expense?
Rather than complaining on JBO... go do something about it because your answere is NO, you will nto get one, the end.
I think he "may" have been being a little sarcastic.....
Just a little though...
(Ron Paul would have Won, if the election would have been HONEST.)
Chris
Yes, I was being sarcastic. Oh yeah, I'm 54 and would love to go back and finish college- if I could afford it. Anyone know of any scolarships for a 54 year-old white male that will cover living expenses? Anyone? No, I didn't think so. I am activly looking for another job, if you know of any in my area let me know. My expenses are already cut to the bone.
One more thing, LiTCaV, I find great humor that you are complaining about me complaining.
“Please do not be cynical. I hate cynicism. Nobody gets in life exactly what they thought they were going to get. But if you work really hard, and you’re kind, amazing things will happen.” Conan O'Brien
@!#$, your the MINORITY now....!
see, that's why you get no bail out money, people like you made the US what it is, now all the younger people think they have crap "owed" to them.... No one wants to EARN anything now days...
Best of Luck Sir.
Chris
"An appeal to arms and the God of hosts is all that is left us. But we shall not fight our battle alone. There is a just God that presides over the destinies of nations. The battle sir, is not of the strong alone. Is life so dear or peace so sweet as to be purchased at the price of chains and slavery? Forbid it almighty God. I know not what course others may take, but as for me, give me liberty, or give me death."
Speech at the Second Virginia Convention at St. John's Church in Richmond, Virginia (23 March 1775) Patrick Henry
Quote:
One more thing, LiTCaV, I find great humor that you are complaining about me complaining.
Lol Yea that is true, but it was more just addign 2 cents into the convo, no insult intended. Where all in the same boat though to a point so I respect your opinion to none the less.
" Aint nothin' but a Peanut!"
Speak for your selves, we are selling a crap load of parts\used and new cars.
I got a raise.
Chris
"An appeal to arms and the God of hosts is all that is left us. But we shall not fight our battle alone. There is a just God that presides over the destinies of nations. The battle sir, is not of the strong alone. Is life so dear or peace so sweet as to be purchased at the price of chains and slavery? Forbid it almighty God. I know not what course others may take, but as for me, give me liberty, or give me death."
Speech at the Second Virginia Convention at St. John's Church in Richmond, Virginia (23 March 1775) Patrick Henry
BigBob wrote:you want to help folks who might have their homes forclosed. I mean, these people just used bad judgement and overextended.
Not all the folks who got their home forclosed used bad judgement before buying their home. They lost their jobs.
spoiler wrote:BigBob wrote:you want to help folks who might have their homes forclosed. I mean, these people just used bad judgement and overextended.
Not all the folks who got their home forclosed used bad judgement before buying their home. They lost their jobs.
Agreed. My house payment takes roughly 1/3 of my income not including quarterly bonuses. If I were to lose my job I have enough money saved up to support myself for at least 3 months.
And recently I just learned that since I bought a house this year, I get 7,500 bucks on top of my tax return as an interest free loan from the govt. I apply all of that to the principal of my loan, and I save a couple thousand on interest over the next year or so and perhaps knock off about 5 years on the life of my loan.
Of course, 500 dollars will be taken out of my next tax returns until it's all paid off, but really in the grand scheme of things that's nothing.
I guess I benefit from this new economic stimulus package
Quiklilcav wrote:ThatGuy85 wrote:And recently I just learned that since I bought a house this year, I get 7,500 bucks on top of my tax return as an interest free loan from the govt...I guess I benefit from this new economic stimulus package
You do realize this isn't new, right? This was part of the Housing Assistance Act of 2008. During the debate on the stimulus, they were going to double that to $15,000, but it didn't happen. I will have to look back through it to make sure, but I believe I read in there that if you buy a house this year, and get the tax credit, the repayment is waived. If this did make it into the final bill, that means more of us will be subsidising home purchases on top of anyone that gets bailed out.
Ah, didn't realize it wasn't new. I knew you got a tax credit for buying a house, I thought it was much less than that though.
Horay for being fiscally responsible!
