Pages: 1

 

2007-07-23 17:47:58
ATG
Banned
+5,233|6971|Global Command
In Iowa, 3,445 families experienced foreclosure last year, up 64 percent from 2005. Nationally, as many as 2.4 million subprime borrowers have either lost their homes or could lose them in the next few years.
Oh fuck Edwards, you know my credit card debt is really a problem, not to mention I got a sore tooth. I really think I'm entitled to high speed Internet and time Warner cable blows balls, you gonna fix that too?

http://johnedwards.com/issues/predatory-mortgages/


here's is what I would like from you;

stay the fuck out of my life. I do not want any help from the Federal government, thank you very much.




Notice how all these assholes are promising NEW things the government will do for you?
What about the basic responsibilities that they fail at now?
http://www.ocregister.com/news/miranda- … home-child


Go and stfu already. All of you ignorant politicians can kindly go kill yourselves, then I will vote for you.
2007-07-23 17:53:42
ATG
Banned
+5,233|6971|Global Command
Oh, I forgot her headstone.

https://i14.tinypic.com/62xarut.jpg
2007-07-24 02:42:04
GorillaTicTacs
Member
+231|6815|Kyiv, Ukraine

ATG wrote:

In Iowa, 3,445 families experienced foreclosure last year, up 64 percent from 2005. Nationally, as many as 2.4 million subprime borrowers have either lost their homes or could lose them in the next few years.
Oh fuck Edwards, you know my credit card debt is really a problem, not to mention I got a sore tooth. I really think I'm entitled to high speed Internet and time Warner cable blows balls, you gonna fix that too?

http://johnedwards.com/issues/predatory-mortgages/


here's is what I would like from you;

stay the fuck out of my life. I do not want any help from the Federal government, thank you very much.




Notice how all these assholes are promising NEW things the government will do for you?
What about the basic responsibilities that they fail at now?
http://www.ocregister.com/news/miranda- … home-child


Go and stfu already. All of you ignorant politicians can kindly go kill yourselves, then I will vote for you.
I'm really trying to pull out your point from that...the Edwards campaign is talking about rolling back legislation that made bankruptcy laws outright useless lateley, as well as outlawing the "subprime mortgage" scam.


And then you want to bash the very libertarian "raise your kid any way you want" system.  Yes, that case is a tragedy.  Yes, her parents should be locked up and possibly executed (after a fair trial and conviction by jury of their peers, of course).  But to slam the "system" that could only observe this tragedy would open up a whole can of "what-ifs" that would make your anarchist/libertarian head explode.  Ask the Brits how they like their system...how many social workers you want rummaging around your home (with what I assume are typically healthy children and a clean environment) giving snotty advice?
2007-07-24 05:49:29
ATG
Banned
+5,233|6971|Global Command
Doesn't it get tiring defending these assholes?
2007-07-24 06:01:06
Bertster7
Confused Pothead
+1,101|7023|SE London

Surely more regulation on these things is a good thing?

Regular people win, big responsible banks win, dodgy repossess-your-house-as-soon-as-look-at-you "banks" lose out. That seems like a very good idea.
2007-07-24 06:06:28
ATG
Banned
+5,233|6971|Global Command
He's talking about a fund to bail out people in trouble on their mortgages.


I'm simply trying to demonstrate that any new proposals should be viewed through the lens of the failures of all the proposals of the past.

It's lies and campaigning.
2007-07-24 06:08:13
Kaosdad
Whisky Tango Foxtrot?
+201|7121|Broadlands, VA
Fighting Predatory Mortgages?  FFS, what ever happened to personal responsibility?

"Gee Mr. Bankerman, I only make $20K a year, but I'd really, really like that $800,000 house witht he pool & helio pad.  Can u help me out?  Maybe I can haz cheezeburger too?"

Then they get capped and cry to the Government for help.

As for that poor child, the same system that failed her also failed the 32 victims at VA Tech.  Bottom line - people have to wake the fuck up and do their jobs.
2007-07-24 06:11:38
GorillaTicTacs
Member
+231|6815|Kyiv, Ukraine

ATG wrote:

Doesn't it get tiring defending these assholes?
Nah, just when you're on the attack...I never know which voice in your head to defend them against

ATG wrote:

stay the fuck out of my life. I do not want any help from the Federal government, thank you very much.
Fair enough...

ATG wrote:

What about the basic responsibilities that they fail at now?
The only answer to this is more powerful judges deciding your personal life and more intrusive social workers knocking on your door every time your kid gets a strawberry on his/her knee...but...fair enough also.

However, they directly contradict each other in principle, so which voice should I argue with?

As for this topic:
Fighting Predatory Mortgages?  FFS, what ever happened to personal responsibility?

"Gee Mr. Bankerman, I only make $20K a year, but I'd really, really like that $800,000 house witht he pool & helio pad.  Can u help me out?  Maybe I can haz cheezeburger too?"

Then they get capped and cry to the Government for help.
Despite the strawman example, the home loan scams of the last few years were generally much more devious than this, with lenders switching out loan rates and using funds for fees where homebuyers thought they were paying capital, etc, without the customer being informed in some cases.  This was made perfectly legal by our Republican congress which opened the floodgates for this kind of abuse, and they knew it, and a few even got rich.

The top guys in these scams screwed both the end-user and the middlemen, and are now flouting about the Carribean or Europe trying to figure out how to spend their money.  Most will not be caught or held accountable.  More of Bush's base just made off with millions in yet another example of good "conservative values" gone bad.

So, is it too much to ask that the thousands of homebuyers that will lose their homes soon because of a combination government approved conartistry and removal of bankruptcy protection be given a helping hand?  Its real easy, just divert a few bucks away from killing Arabs to help out the average Joe back home...at $655,000 per dead Arab, its not like we could possibly waste any more.

Last edited by GorillaTicTacs (2007-07-24 06:28:55)

2007-07-24 06:28:09
Bertster7
Confused Pothead
+1,101|7023|SE London

ATG wrote:

He's talking about a fund to bail out people in trouble on their mortgages.
Ah, now that's different. Why should the government have to bail people out with taxpayers money?

I thought it was about legislation to prevent predatory mortgages. The type sold to desperate people that have no hope of repaying it.
2007-07-24 10:11:22
jsnipy
...
+3,277|6964|...

ATG wrote:

He's talking about a fund to bail out people in trouble on their mortgages.
wtf?!?!?

I think if a person makes to many stupid decision they should not be bailed out, rather, be hooked up to a machine and have thier body heat harvested.

Actually, there are whole businesses based on stupidy. I do think that it is not fair to use the law as a defense for stalkinging those you know that do not know any better to juice them for thier money. Its no different than when the US would enforce labor laws.

Last edited by jsnipy (2007-07-24 10:13:20)

2007-07-24 10:20:47
IRONCHEF
Member
+385|6933|Northern California

Kaosdad wrote:

Fighting Predatory Mortgages?  FFS, what ever happened to personal responsibility?

"Gee Mr. Bankerman, I only make $20K a year, but I'd really, really like that $800,000 house witht he pool & helio pad.  Can u help me out?  Maybe I can haz cheezeburger too?"

Then they get capped and cry to the Government for help.

As for that poor child, the same system that failed her also failed the 32 victims at VA Tech.  Bottom line - people have to wake the fuck up and do their jobs.
Yep.  Me and the other 1000 or so homeowners in the SF Bay Area all got loans last year and were offered 30 year fixed loans or variable rate loans.  Why should they be helped because they foolishly chose the variable rate (using their keen "blow cash now, don't save for later" mentality) loans for a point less interest while I thought wisely when doing my 30 year fixed rate?  I have 2 good friends who just lost a combined $600k in equity because they chose variable rate loans (with this jacked up Bush/war economy) and went from barely making their mortgage payments to seeing a $200 /month increase cause them to foreclose! 

Think I read that this year the banks are projecting a $100 billion loss on sub prime loan defaults.

Last edited by IRONCHEF (2007-07-24 10:21:33)

2007-07-24 10:33:11
KEN-JENNINGS
I am all that is MOD!
+2,992|7074|949

IRONCHEF wrote:

Kaosdad wrote:

Fighting Predatory Mortgages?  FFS, what ever happened to personal responsibility?

"Gee Mr. Bankerman, I only make $20K a year, but I'd really, really like that $800,000 house witht he pool & helio pad.  Can u help me out?  Maybe I can haz cheezeburger too?"

Then they get capped and cry to the Government for help.

As for that poor child, the same system that failed her also failed the 32 victims at VA Tech.  Bottom line - people have to wake the fuck up and do their jobs.
Yep.  Me and the other 1000 or so homeowners in the SF Bay Area all got loans last year and were offered 30 year fixed loans or variable rate loans.  Why should they be helped because they foolishly chose the variable rate (using their keen "blow cash now, don't save for later" mentality) loans for a point less interest while I thought wisely when doing my 30 year fixed rate?  I have 2 good friends who just lost a combined $600k in equity because they chose variable rate loans (with this jacked up Bush/war economy) and went from barely making their mortgage payments to seeing a $200 /month increase cause them to foreclose! 

Think I read that this year the banks are projecting a $100 billion loss on sub prime loan defaults.
Fed chief Bernanke gave that number - up to $100 billion.  Savings and Loan scandal redux?
2007-07-24 21:16:31
ATG
Banned
+5,233|6971|Global Command

IRONCHEF wrote:

Kaosdad wrote:

Fighting Predatory Mortgages?  FFS, what ever happened to personal responsibility?

"Gee Mr. Bankerman, I only make $20K a year, but I'd really, really like that $800,000 house witht he pool & helio pad.  Can u help me out?  Maybe I can haz cheezeburger too?"

Then they get capped and cry to the Government for help.

As for that poor child, the same system that failed her also failed the 32 victims at VA Tech.  Bottom line - people have to wake the fuck up and do their jobs.
Yep.  Me and the other 1000 or so homeowners in the SF Bay Area all got loans last year and were offered 30 year fixed loans or variable rate loans.  Why should they be helped because they foolishly chose the variable rate (using their keen "blow cash now, don't save for later" mentality) loans for a point less interest while I thought wisely when doing my 30 year fixed rate?  I have 2 good friends who just lost a combined $600k in equity because they chose variable rate loans (with this jacked up Bush/war economy) and went from barely making their mortgage payments to seeing a $200 /month increase cause them to foreclose! 

Think I read that this year the banks are projecting a $100 billion loss on sub prime loan defaults.
But...how can we trust the government to pay for this? It's our money. Their managing it means we spend 5 dollars for every fifty sense in value.

Where were the elected people when these loans were being sold for years? Obviously it created a artificial ability for a lot of people to buy. Stated income...lol, that means you tell the bank what you make and they approve a loan amount based on that.

Zero down, stated income variable rate mortgages?



What, is everybody retarded?
2007-07-24 21:35:16
Stingray24
Proud member of the vast right-wing conspiracy
+1,060|6887|The Land of Scott Walker

ATG wrote:

Zero down, stated income variable rate mortgages?

What, is everybody retarded?
The people that take them, yes.  They don't read the fine print because their new massive house is blocking the logic region of their brain.  Then the ARM comes due and they have to refinance into a regular mortgage with interest AND principal in the payment.  Hello foreclosure.  These idiots deserve what they get.  But I wouldn't mind seeing a pound of flesh out of the people giving people these loans.
2007-07-24 21:35:49
Turquoise
O Canada
+1,596|6847|North Carolina
Well, I think I've seen enough here to verify that the American brand of capitalism coupled with the American lack of financial responsibility is a rather disastrous combination.

On the one hand, the lenders are opportunistic bastards, but on the other hand, people who suck up more debt than they can handle aren't too bright.
2007-07-24 21:57:10
Bubbalo
The Lizzard
+541|7003

Turquoise wrote:

On the one hand, the lenders are opportunistic bastards, but on the other hand, people who suck up more debt than they can handle aren't too bright.
Which is happening in pretty much every Westernised nation.  People are trying to live beyond their means and it isn't working.
2007-07-24 21:59:02
Turquoise
O Canada
+1,596|6847|North Carolina

Bubbalo wrote:

Turquoise wrote:

On the one hand, the lenders are opportunistic bastards, but on the other hand, people who suck up more debt than they can handle aren't too bright.
Which is happening in pretty much every Westernised nation.  People are trying to live beyond their means and it isn't working.
If we brought back debtors' prison, it might curb this trend....
2007-07-25 00:11:03
IRONCHEF
Member
+385|6933|Northern California
I'll tell you who needs to be shot; those damned house flippers!  Where I live, those bastards are the greedy fokkers who drive the real estate market up the way it is.  Now that there's gobs of foreclosures happening, those greedy bastages are buying up all those half priced homes, planting some flowers, and sitting on them till the market returns to it's natural state..then they'll pounce and start their inflating again causing poor people like me to move further and further east away from the expensive houses near the jobs.

Sorry if any of you are "real estate investor" band wagon jumping pricks.  I'm sure you'll get over my hatred.  I generally feel this way for most greedy investors who do nothing and make gobs of money.

 

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