EastCoastNiner Posted March 10, 2012 Report Share Posted March 10, 2012 Is this real life? http://money.cnn.com/2012/03/09/real_estate/mortgage-settlement/index.htm?iid=HP_LN Typical nowadays. Let's reward those that are dumb as shit and buy stuff outside of their financial means. Great job Obama and company! Quote Link to comment Share on other sites More sharing options...
EastCoastNiner Posted March 10, 2012 Author Report Share Posted March 10, 2012 Seriously, this is absolutely terrible. This is a terrible message to be sending as well, that the government will bail you out if you make a stupid decision. Enjoy all the additional bank fees and costs that will surely be on the way! Quote Link to comment Share on other sites More sharing options...
Flash Posted March 10, 2012 Report Share Posted March 10, 2012 Lol waiting for "is it so wrong to help people out with their mortgages?" Quote Link to comment Share on other sites More sharing options...
kingfish Posted March 11, 2012 Report Share Posted March 11, 2012 [expletive] poor people!!!!!!!!!!!!! Quote Link to comment Share on other sites More sharing options...
fish7718 Posted March 11, 2012 Report Share Posted March 11, 2012 Goverments fault for allowing those people to get the mortgages in the first place... Quote Link to comment Share on other sites More sharing options...
Lkr Posted March 11, 2012 Report Share Posted March 11, 2012 (edited) Goverments fault for allowing those people to get the mortgages in the first place...but the government shouldn't regulate the free market!!11!1!11!!! these companies legitimately preyed on people who really didn't know much better, and should be held accountable for it. Edited March 11, 2012 by Lkr Quote Link to comment Share on other sites More sharing options...
EastCoastNiner Posted March 11, 2012 Author Report Share Posted March 11, 2012 but the government shouldn't regulate the free market!!11!1!11!!! these companies legitimately preyed on people who really didn't know much better, and should be held accountable for it. Oh, the mindset of a "gimme, gimme, gimme, I don't want to work for anything" person. They didn't prey on anyone. Brb, making 30k a year.Brb, getting a mortgage for a 600k house.Brb, wondering why I'm screwed. Nobody forced these idiots to make poor financial decisions. Weird how there's many other people that weren't [expletive]ing retarded and weren't faced with those problems, yet now have to bail dumbasses out that you support. How about since you care so much about them, you pay my portion of upcoming bank fees and bull-shit that will be on the way. I really don't get why you support these morons that make stupid decisions. Read the contract that you are signing No excuses. Quote Link to comment Share on other sites More sharing options...
Lkr Posted March 11, 2012 Report Share Posted March 11, 2012 you really have no idea how the subprime crisis came about based on the ignorance of your posts. 1 Quote Link to comment Share on other sites More sharing options...
EastCoastNiner Posted March 11, 2012 Author Report Share Posted March 11, 2012 you really have no idea how the subprime crisis came about based on the ignorance of your posts. Don't purchase above your means, and use you're [expletive]ing mind to help you realize there may be inflation, your houses worth may decrease, etc. There's no excuses for 99% of people that get into that crap, and now need myself and other honest taxpaying Americans to basil their dumbasses out. We should just ship all of these idiots to Europe. Quote Link to comment Share on other sites More sharing options...
Flash Posted March 11, 2012 Report Share Posted March 11, 2012 The point is that too many people are trying to live above their means when in reality, you should really look to live just a little lower than your means so you can always be comfortable money wise especially in today's economic climate. But hey, why would anyone use that line of thinking? Quote Link to comment Share on other sites More sharing options...
Owner Real Deal Posted March 11, 2012 Owner Report Share Posted March 11, 2012 Wow. If you have no idea what you're talking about, read: http://en.wikipedia.org/wiki/Subprime_mortgage_crisis Quote Link to comment Share on other sites More sharing options...
Owner Real Deal Posted March 11, 2012 Owner Report Share Posted March 11, 2012 The point is that too many people are trying to live above their means when in reality, you should really look to live just a little lower than your means so you can always be comfortable money wise especially in today's economic climate. But hey, why would anyone use that line of thinking?Things happen, dude. My mom lost her job around the same time my dad broke his neck and had to have surgery. I won't need to tell you how much they were making, and how much they did make after those two events, within those few months. Where they live, my mom struggled to get any kind of a job, and suddenly, my parents were making back payments on a house that decreased significantly in value, and it was up to me to catch them up and help out for a while. My girlfriend's parents can't stick their house on the market because of the decrease in value + all of the repairs to bring it up to code. Plan was to sell once all three kids moved out and they were helping pay for college...but now, everything has changed, and now, they are "living at or above their means" and basically, paycheck-to-paycheck. Some people are selling in my area to get away from the property taxes that are costing them $2400 a year for an average house (which is expensive as hell here). Some people don't understand what struggle means. They don't run into unfortunate events. Therefore, they are complete fools about how life works. They have never been denied a major neck/back surgery and sent to 50 sessions of physical therapy to "repair" five ruptured discs, asked to take Chantix to quit smoking, and see a psychologist for three expensive sessions to see if they will be ready for surgery in two years...despite paying in GREATLY and earning that health insurance. I really do get sick of people thinking everything is a walk in the park. I'm glad some of you can soar through life for 80 years, being spoon-fed by your parents or grandparents, then handed a job you don't deserve, making much more than you really earn, and being lucky to breeze through without having a major illness. However, I'm not glad that some of you are too ignorant to realize that not everyone lives in your fantasy land. Quote Link to comment Share on other sites More sharing options...
EastCoastNiner Posted March 11, 2012 Author Report Share Posted March 11, 2012 Things happen, dude. My mom lost her job around the same time my dad broke his neck and had to have surgery. I won't need to tell you how much they were making, and how much they did make after those two events, within those few months. Where they live, my mom struggled to get any kind of a job, and suddenly, my parents were making back payments on a house that decreased significantly in value, and it was up to me to catch them up and help out for a while. My girlfriend's parents can't stick their house on the market because of the decrease in value + all of the repairs to bring it up to code. Plan was to sell once all three kids moved out and they were helping pay for college...but now, everything has changed, and now, they are "living at or above their means" and basically, paycheck-to-paycheck. Some people are selling in my area to get away from the property taxes that are costing them $2400 a year for an average house (which is expensive as hell here). Some people don't understand what struggle means. They don't run into unfortunate events. Therefore, they are complete fools about how life works. They have never been denied a major neck/back surgery and sent to 50 sessions of physical therapy to "repair" five ruptured discs, asked to take Chantix to quit smoking, and see a psychologist for three expensive sessions to see if they will be ready for surgery in two years...despite paying in GREATLY and earning that health insurance. I really do get sick of people thinking everything is a walk in the park. I'm glad some of you can soar through life for 80 years, being spoon-fed by your parents or grandparents, then handed a job you don't deserve, making much more than you really earn, and being lucky to breeze through without having a major illness. However, I'm not glad that some of you are too ignorant to realize that not everyone lives in your fantasy land. 1. You're playing the blame game, trying to put all, or most of the blame on the banks. It takes two parties to make a contract and an agreement, 2. Most of the people in these situations DID buy above their means, and that's their fault, and they should face the consequences for it. 3. There's always going to be circumstances where people's situations aren't always that easy, and I understand that, and for certain situations, people should receive some help. I get that your dad broke his neck and may have not been able to work, so I don't have as much of a problem with helping out someone such as him in that situation, but I can't buy the excuse for your mom. You're going to tell me there are no part-time jobs that she could have found? Maybe there weren't many full-time jobs, but I don't buy for a second that there weren't any part-time jobs that could have been had to make some extra money. I don't know your situation, and I'm going to guess there's more to it, but all I'm saying is that there's usually ways to make some extra money if your mom is not occupied with helping your dad or other important activities. You're trying to make it sound like most people are in a similar situation to your parents when that's not true at all. You're lumping in all of the idiots that bought 500k houses while making 30-50k a year with people that actually have a difficult situation like your parents. I guess those people that made stupid mistakes should receive the same amount of help as your parents and similar situations? I think not. Quote Link to comment Share on other sites More sharing options...
Flash Posted March 11, 2012 Report Share Posted March 11, 2012 (edited) There's always good and honest people who legitimately lost a lot of their money when the market went down but the reality of it is that the majority of people were living above their means when they couldn't afford to. Edited March 11, 2012 by Flash Quote Link to comment Share on other sites More sharing options...
Lkr Posted March 11, 2012 Report Share Posted March 11, 2012 you realize that they were taking advantage of stupid people. on purpose. they had a whole section where they preyed on people and got them to sign loans, weren't honest up front, etc. a lot of these people didn't know what the difference between a fixed interest rated and an adjusted interest rate meant, and got [expletive]ed over. yes, the people deserve blame, but the banks deserve just as much if not more. the whole economy collapsed thanks to their idiocy and greed. the banks should have to pay for their crimes, and this is the best way to do it. not the best parallel, but should sites that host illegal content be left alone and only the users who download the illegal content be the ones to get in trouble? Quote Link to comment Share on other sites More sharing options...
Owner Real Deal Posted March 11, 2012 Owner Report Share Posted March 11, 2012 I never said there weren't "stupid people" in the mix, but as Lkr has said, the banks took advantage of that...hook, line and sinker. When someone is desperate for a loan, they are going to do what it takes to get one. This situation may have included people who knew what they were getting into, but a great deal of them were being lied to, and taken advantage of...and that's excluding those like my parents. I guess you'd be surprised at how many people are overwhelmed by an intelligent person talking anything relating to your general bank loans, mortgages, amortizations, compound interest, etc. When those sitting across the desk of that person are in dire need of a loan or a home, it's something that has to be done, and when the opportunity presented itself, the banks dumped it all on them and figured it would work to perfection, raking up tons of foreclosures and watching people lose their homes and lives without batting an eye. Quote Link to comment Share on other sites More sharing options...
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