Aces High Bulletin Board
General Forums => The O' Club => Topic started by: indy007 on April 23, 2008, 01:54:38 PM
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I've always followed protest movements. I like seeing what people are about.
http://reason.tv/video/show/394.html (http://reason.tv/video/show/394.html)
I actually made it through the video.
Then my head exploded.
reason.tv's Dan Hayes and Michael C. Moynihan checked out the demonstration and talked with some of the activists, who quickly changed the subject from home loans to Castro's Cuban paradise, the need to free Mumia Abu Jamal, forgiving student loans, the Rothschilds (!), Haitians eating a mixture of dirt and oil (!?!?), and much, much more. Approximately six minutes.
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do you realize that 1 in 500 home owners in America are under foreclosure???
thats pretty friggin serious!!!
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do you realize that 1 in 500 home owners in America are under foreclosure???
thats pretty friggin serious!!!
Do you realise that 1 in 500 home owners in America should have bought something they could afford, but didn't?
thats pretty friggin serious!!!
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In words of my girlfriend after hearing the bit about Iraqis fighting back with sticks and stones
"No, they are fighting with road side bombs you f**king idiot."
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Exactly right!!! The only people to blame for the current housing crunch are the idiots that thought an intrest only loan was a great thing.
Hey I only make $45K a year but I can afford to buy this $250K home because I only have to pay the interest for the first five years and my payment is only $600 a month. WOW!!!! That's great, where do I sign?? Now five years later that payment jumps to $2000 a month and people are defaulting on their loans.
Why should I feel sorry for them?? They were stupid. I bought a house I could afford, did a traditional 30 year loan and my payment pretty much stays the same. What pisses me off is because all these idiots screwed up the housing market, my property value is going down.
Once again the people that do the right thing and plan ahead are having to pay for the idiots who can't think ten minutes into the future.
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Hornet33 - Communism is clearly the answer. It worked wonders in Eastern Europe.
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Hornet33 - Communism is clearly the answer. It worked wonders in Eastern Europe.
Cuba my friend, Cuba. Everybody has a house, job, and free healthcare.
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I'd go to Cuba...
...for a holiday before returning to decadent England with its capitalist pig-dog rulers to live a life of servitude.
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I can afford to buy this $250K home because I only have to pay the interest for the first five years and my payment is only $600 a month. WOW!!!! That's great, where do I sign?? Now five years later that payment jumps to $2000 a month and people are defaulting on their loans.
thats a joke right? who in the world would sell such traps? Such a seller is in my eyes a criminal. No matter how dumb the buyer is ;)
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Cuba my friend, Cuba. Everybody has a house, job, and free healthcare.
And....cigars.
They are believed to do wonders in the oddest of places, and do not forget the Cuban 8
:devil
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thats a joke right? who in the world would sell such traps? Such a seller is in my eyes a criminal. No matter how dumb the buyer is ;)
Hell no it's not a joke. I know 5 guys in my old command who are about to declare bankruptcy for that very reason. They bought home on an intrest only loan for the first 5 years figuring they would get transferred after 4, sell the house, and not have to worry about making any payments on the principle. They looked at as a way to get a real nice house for cheap rent. Well they didn't transfer out of the area, and now it's come back to bite them on the butt. Once they file, they loose their security clearance, their careers in the Coast Guard are on the line and it's all because they were not finacially responsible.
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It depends Ghosth - if the buyer had that explained to them at the time of purchase, then frankly, I have little sympathy. If they were not told how it would work then, while I think the buyer was naive, the mortgage provider was negligent maybe even criminal.
In the UK, there was a similar thing with endowment policies where people were sold them, but were not told about the risks (they were stock exchanged linked in some way). I think when it comes to financial products that are so critical to people's lives, people should be given all the information to make an informed choice. If they are given all the information and make a bad choice - well, that's the way the cookie crumbles.
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If these people spent the day working like the rest of us, they could afford a house. What a bunch of airheads. Sure they all want communism, that way they can sit around and complain and not feel guilty for not working hard.
Thats why Stalin was such a hard case. Its the only way to get a bunch of lazy thugs to do anything..a gun to their head.
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It depends Ghosth - if the buyer had that explained to them at the time of purchase, then frankly, I have little sympathy.
firyst i'm Gh0stFT and not Ghosth ;)
i see it different, if you try to get a new car here, lets say a good BMW or a Mercedes, heck why
not a new Ferrari ;) Your credit card Status will be checked, your debt, your incomming, questions about
your job, maybe you live allready on the edge ect. then you cant buy/rent it for a monthly fee, because
of the risk. Bar ca$h paying is a different story.
Dowding, imagine you sell products, would you sell it to everyone with 1.) no money 2.)to much Dept 3.) just plain dumb, would you?
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thats a joke right? who in the world would sell such traps? Such a seller is in my eyes a criminal. No matter how dumb the buyer is ;)
There is the problem..... the loan institutions are floundering now because of pulling that scam and the government is talking about bailing them out with our money. Let those loan institutions fail. Let those folks lose their home. The only way out for them should be by their own means not with money stolen from me by the government.
Note I say THE govrnment not MY government. The US government has not been for the people by the people for a long time. Just a bunch of disconnected head in the sand indigents.
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I think it's stoopid for the government to bail out anyone that made a bad decision, be it a bank, or a person. Where's all this funding coming from?! Who pays for the bail out?! A bill passed last year to create yet another program for affordable housing for low-income families, and guess where THAT funding comes from? It comes from Fannie Mae and Freddie Mac PROFITS every time they raise their rates. BTW, FM & FM are the people who most likely own your loans if you have college loans. It's basically a middle class mortgage tax in all but name... :furious
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Do you realise that 1 in 500 home owners in America should have bought something they could afford, but didn't?
thats pretty friggin serious!!!
yup put the blame on the people who are the true americans,but lets not blame the big companies that have ruined our country, and force people to live the way they want us too,
every thing in this country caters to the rich!!! and if you cant see the truth than you are exactly the way they want you!!! a friggen robot!
unless of course you are in the tiny % that are rich in this country, well if thats the case i guess you are right! you cant be wrong! because you have more money than us, and your smarter then us, and you know whats good for us, :rofl :rofl :rofl
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yup put the blame on the people who are the true americans,but lets not blame the big companies that have ruined our country, and force people to live the way they want us too,
every thing in this country caters to the rich!!! and if you cant see the truth than you are exactly the way they want you!!! a friggen robot!
unless of course you are in the tiny % that are rich in this country, well if thats the case i guess you are right! you cant be wrong! because you have more money than us, and your smarter then us, and you know whats good for us, :rofl :rofl :rofl
Well obviously they are doing something right if they are wealthy. The only thing keeping my family down financialy is a spend happy wife who doesn't understand the concepts of budgets and don't spend money you don't have. When I bought my first house 2 years ago i made sure
1 I could afford it.
2 I could afford it in the future as well.
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yup put the blame on the people who are the true americans,but lets not blame the big companies that have ruined our country, and force people to live the way they want us too,
every thing in this country caters to the rich!!! and if you cant see the truth than you are exactly the way they want you!!! a friggen robot!
unless of course you are in the tiny % that are rich in this country, well if thats the case i guess you are right! you cant be wrong! because you have more money than us, and your smarter then us, and you know whats good for us, :rofl :rofl :rofl
I paid quite a bit in income taxes..... then I have to pay my half of my employees taxes (PR tax) then I pay quite a bit in property tax for my company and my home then tax on some of my equipment. This is just some of the taxes I pay.
I don't tell you how to live nor do I demand anything from you (heck I don't even know you)... yet depending on your income or lack thereof I may be supporting you and your family and that is your gratitude?
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No one was forced to buy a house they couldn't afford, but the tax payer will be forced to cover the cost. I have no sympathy for those who signed for houses they couldn't afford.
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A home buyer should have their finances in order and be bright enough to figure out a budget. If you are signing for an ARM or an interest only mortgage you are speculating. You are gambling that the mortgage rates will go down instead of up and that you will be able to flip or sell the house before the note is due. Sorry but you should never gamble with more than you can afford to lose. If you lose your shirt in Vegas, it's your fault and no one will bail you out.
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I paid quite a bit in income taxes..... then I have to pay my half of my employees taxes (PR tax) then I pay quite a bit in property tax for my company and my home then tax on some of my equipment. This is just some of the taxes I pay.
I don't tell you how to live nor do I demand anything from you (heck I don't even know you)... yet depending on your income or lack thereof I may be supporting you and your family and that is your gratitude?
Exactly. At least if we sent it to Sally Struthers we'd get a picture and a letter.
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There is the problem..... the loan institutions are floundering now because of pulling that scam and the government is talking about bailing them out with our money. Let those loan institutions fail. Let those folks lose their home. The only way out for them should be by their own means not with money stolen from me by the government.
Note I say THE govrnment not MY government. The US government has not been for the people by the people for a long time. Just a bunch of disconnected head in the sand indigents.
That was my first response too. Unfortunately, it turns out that the impact of all those stupid people's stupid mistakes would likely be enough to hammer the rest of us into a major recession, if not depression. As I understand it, the banking industry stays liquid by giving and receiveing short term loans to each other, almost like a power grid distributing electricity. Once everybody gets nervous about the stability of their trading partners, solid banks stop offering those 72 hour loans that keep the wheels greased -- because who wants to loan a million bucks only to see the client go under the next day? Without that free movement of assets, banks don't have the resources to extend business loans, even to good prospects. Small companies can't expand, new ones can't start. The guy whose big contract payment gets delayed by the client suddenly can't make payroll, or can't pay HIS creditor -- and the banks have all pulled in their credit lines due to general uncertainties. Now good businesses start going under because they can't get the short term or emergency funding they need.
Growth slows, stops, and starts moving backward because of the dual pressures causing more failures and making it harder to expand. People get laid off, so spending drops even among those who keep their jobs -- cause who knows if they might be next? Less economic activity means further contraction, and the cycle continues.
The great depression was NOT caused by the stock market crash of 29. In fact, there have been equal or greater drops in the years since then without triggering catastrophe. Instead, from what I've read, the major factors were the absence of effective international currency systems (is it the Breton Woods agreement?) and a critical loss of economic confidence that made everyone afraid to take the economic risks that keep growth moving. I'm no economist, but I have to wonder if a failure of the "currency" system among banks might end up causing a similar disaster.
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I don't know if any of you know regular people, but you all assume people in possible foreclosure are people with dumb loans...
My best friend with wife and 4 kids own a home in the northern ghetto of Milwaukee. They bought the house 9 years ago, with the housing "boom" their appraised value went up, and actually went up above their income level (meaning if they were to apply for a loan in the amount of their house they would not qualify). They refinanced 4 years ago to help with some debt, single working adult earning >$50,000 and got a decent rate for 4 years fixed rate.
Now with gas, utilities and cost of living raising 10x faster than raises, and he works in a business dependent on the new home market money is tighter than a nun's bum.
Market value has dropped on their appraisal, and currently they owe after 9 years just $3000 less than the value of the house. They never did a "dumb" loan, and have spent a bunch of money on the house in improvements. with that refinance 4 years ago I helped them completely finish the unfinished basement, including adding a 3/4 bathroom, and 3 rooms.
Situations like the above make up some part of the current housing problem, and you can't discount the housing "boom" 2+ years ago artificially inflating home values of those that already owned homes even in urban areas.
Personally I am disgusted with the home market, especially what I have seen in urban areas like my buddies. He has to deal with minorities walking into his driveway on fathers day afternoon and stealing his 5 and 7 year old's bikes with training wheel's still on them. He and I made the mistake of going to Home Depot for some plumbing accessories and left the wife and kids to watch the teenage minorities carry off the bikes, only to find 2 days later they bikes ruined and lying in a ditch. That was 2 years ago.
So his neighborhood has become a cesspool. It has happened in the same time frame as the housing "boom" but now he is S.O.L. He can't afford a home out of the city and they have to deal with it... and because of appraisers artificially inflating the value of his home, then killing that value in the last few months he is losing more equity than 9 years and thousands of dollars invested in improving his home instead of letting it go to pot.
I rent and wouldn't consider owning until this stables out.
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yup put the blame on the people who are the true americans,but lets not blame the big companies that have ruined our country, and force people to live the way they want us too,
90% of these people who signed unaffordable mortages did so at the point of a gun.
8% had children held hostage until they signed.
2% were idiots.
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some froclosures are from people loosing ther jobs
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There is enough blame to go around,
It is the fault of the dumb home buyers that listened to the upselling of the mortgage people rather then look at there own budget.
It is also the fault of the lending companies leaning more money then realistically the home buys could afford,
Dont know about the rest of you buy what kind of idiot loans money to a guy that when looking at how much he makes you know he will have a hard time paying it.
But the fun part is it will be the Mortgage companies and banks that get the bail out, for being greedy, not the home buyers.
Home buyers will loose the homes to the banks, the banks will get the bail out, and they will have both the homes and the money back.
Sounds like a win win for them
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Basically the lending companies play hot potato with the mortgages.
They lend the money initially. then sell the mortgage at a profit to another company.
who then sells it to someone else.
Thats why they made the loans to people who couldnt afford them.
They knew that all they had to do was sell the loan to the buyer. As long as things were good they had nothing to loose because they knew they were going to sell the loan to someone else and it would no longer be their problem in the homowner defaulted.
Not speaking of the current situation.
One persons loss usually turns into another persons gain.
When the time is right. Some folks are going to make a ton of money buying then selling forclosures.
Some already are.
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When the time is right. Some folks are going to make a ton of money buying then selling forclosures.
Some already are.
not selling.. buying.. sitting on them/renting them. Selling them down the road as market recovers.
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not selling.. buying.. sitting on them/renting them. Selling them down the road as market recovers.
If you time it right you can, Steve, but...The houses' on my street, which the original owners' sold when the value started going up, were turned around and bought by flippers. However, they got stuck with them, and are now having a helluva time, because it's been long enough now, that the original lease agreement's have expired, and the old renter's are moving out to cheaper places. The flippers' are having to lower rent's below what their original payments' were, and are starting to hurt now.
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the housing boom of the 90s would have never happened without predatory lending. the houses were artificially inflated to 3 or 4 times their actual value.... then someone thought of a way to make it 'affordable'. i bought my house directly from the owners who decided to retire in florida and paid only 60,000 when the other houses of similar construction and property size are selling for around 280,000.
I put 27K down from the sale of some land i had and I will be mortgage free in 6 years.
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yup put the blame on the people who are the true americans,but lets not blame the big companies that have ruined our country, and force people to live the way they want us too,
I would like a picture of the gentlemen from Coca-Cola forcing you to drink his beverages. Obviously, you have no choice in the matter. The evil companies decide which car you're going to drive, where you live, how you live, what you eat, what you think, what you do for a living...
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you guys realize that a large part of those poor downtrodden comrades that are in forclosures are.. speculators? they would be considered part of the evil rich by the likes of Ink.
Another large part is people who took a huge chance to get into a $300-500K home.. they took interest only loans.. adjustable loans... etc. all counting on the market going higher and higher and higher.. they were doing it to make a killing... they got caught.
Others.. had their homes in a manageable situation.. instead of just enjoying the low payment.. they went out and made equity loans based on what EVERYONE knew were inflated home values... values that everyone knew could not last. They used that money to put in granite counter tops and 40k kitchens and add on rooms and buy a new pickup..
The other biggie is... divorce... they bought houses based on two incomes even tho the divorce rate is nearing 60% Just the divorce rate will mean that more than half the homes bought using both incomes will end up in forclosure.
No... I am not for a socialist paradise like Ink.. I don't want to take the money from the wealthy and spread it around to the stupid who will produce nothing with it but a shorter life and more idiot children.
lazs
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it is like that in our town we have a house that just got forclosed on right up from us and since the economy is going down the toliet everyone is trying to sell their house. We took a drive last night and saw about 150 house for sale and that was just 1/2 of our town. Not to mention that a pretty big company in town is laying off 730 people in june and packing up to move to mexico. Our town is going to be nothing but houses for sale with no people to buy them since no one has a job or will be able to find one.
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Do you realise that 1 in 500 home owners in America should have bought something they could afford, but didn't?
thats pretty friggin serious!!!
Do you realize they are being punished then... "buying something they cannot afford"..that their government does every day. The system is broken and it's not the people's fault. Foreclose on a guy who's now 200,000 in debt... yet the national deficit is... wait.. I'll go get it...
The Outstanding Public Debt as of 24 Apr 2008 at 06:20:07 PM GMT is:
$9,344,183,411,830.41
The estimated population of the United States is 303,868,232
so each citizen's share of this debt is $30,750.77.
The National Debt has continued to increase an average of
$1.46 billion per day since September 29, 2006!
Concerned?
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Exactly right!!! The only people to blame for the current housing crunch are the idiots that thought an intrest only loan was a great thing.
Hey I only make $45K a year but I can afford to buy this $250K home because I only have to pay the interest for the first five years and my payment is only $600 a month. WOW!!!! That's great, where do I sign?? Now five years later that payment jumps to $2000 a month and people are defaulting on their loans.
Why should I feel sorry for them?? They were stupid. I bought a house I could afford, did a traditional 30 year loan and my payment pretty much stays the same. What pisses me off is because all these idiots screwed up the housing market, my property value is going down.
Once again the people that do the right thing and plan ahead are having to pay for the idiots who can't think ten minutes into the future.
It is as much the lenders fault as it is the borrowers. They OK'd those loans knowing they were high risk. Greed is a beast!
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All I see is that the irresponsible buyer still "leaves in his house", and the government will help him to keep it. Myself, I still have to pay rent because I couldn't afford what I wanted, and said "What if the sweet variable rate triples next week?". A society where the responsible is penalized and the dumy cathered ... it's socialisum ... and socialisum leads to spineless clones ... that leads to despotisum :eek:
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I'm currently looking to buy a house. I'm amazed at how many homes are in pre-forclosure. Also known as a "short sale" Aint nothing short about it...pain in the ARSE!!!
Its a great time to buy right now. I currently have a bid on a house that is selling for 118,000 the comps in the area are in the 140's range so IF I get it ill be walking into about 15-17k of equity. The sellers simply cant pay the mortage since it was a variable rat sub-prime loan.
The sub-prime loans and the banks that offered them were as bad a scam as the savings and loan thing in the 80's.
No the banks and the credit card companies are changing how they rate you personally as well. They are actually changing ppls credit limit on a whole different system.
I dont want to get to far off topic but this happend to a freind. and others I know
example: you have 5k credit limit, you have a balance of 2k, the credit card nazis for whatever reason change your limit to 3k...NOW when someone pulls your credit report its hows you over 50% on your card which WILL knock down your credit rating quit a bit.
I check my 3 cards regularly for that reason AND to make sure someone isnt fraudulently charging me
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Do you realize they are being punished then... "buying something they cannot afford"..that their government does every day. The system is broken and it's not the people's fault. Foreclose on a guy who's now 200,000 in debt... yet the national deficit is... wait.. I'll go get it...
The Outstanding Public Debt as of 24 Apr 2008 at 06:20:07 PM GMT is:
$9,344,183,411,830.41
The estimated population of the United States is 303,868,232
so each citizen's share of this debt is $30,750.77.
The National Debt has continued to increase an average of
$1.46 billion per day since September 29, 2006!
Concerned?
Do you mean to say here that because our government leads by example and spends irresponsibility, that we, as individuals are now held blameless if we do the same, because "Hey...we're only doing what the government does!?!?!?!?" That's a crock of responsibility dodging crap.
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oh and FYI my loan is a "fixed" rate of 4% from Rodney Anderson of CTX mortage co.
If your in the DFW are and are looking to buy I HIGHLY recommend these guys. If you cant afford a certain house they WILL tell you and wont pencil whip the numbers so that you can get a loan.
I can easily afford a 180k loan however I have to buy all new furniture and have other things going on so I didnt want to get a loan at the limit of what i make.
Thats where most people mess up, they get the max of what they can afford then they loose a job, have a accident and their short term disability or other event happens and they get behind and cant ever catch up.
To many people live check to check. I keep enough in a seperate CD acct and savings acct to make 6mo's of loan payments plus basic bills. Thats not counting my reg savings and 401k, short and long term disability's AND I pay a lil more for insurance just in case I cant make payments on my car, credit cards and home loan.
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<snip>
What Texasmom said. Two wrongs don't make a right... and at least I get something out of government. It's the worst return on investment, ever... but there's infrastructure that allows me to go about my business successfully.
So if you go out and lease a Porsche, when you really should've bought a used Civic... is it the Dealership's fault? Is it Porsche's fault for advertising fast cars? No. It's your fault for signing the papers.
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They are actually changing ppls credit limit on a whole different system.
I dont want to get to far off topic but this happend to a freind. and others I know
example: you have 5k credit limit, you have a balance of 2k, the credit card nazis for whatever reason change your limit to 3k...NOW when someone pulls your credit report its hows you over 50% on your card which WILL knock down your credit rating quit a bit.
I check my 3 cards regularly for that reason AND to make sure someone isnt fraudulently charging me
That happened to me 1.5 year ago. When I moved to SLC I maxed out my Bank of America CC of $5,000. Did the min payments till 4 months later where I generated money again, and paid $2,000 at once. Next statement my credit limit has been lowered to $3,000!!! I call BOA to bring it back up, they said my credit score is too low. I check my credit with Truecredit (Transunion) it went from 705 to 599 in ONE MONTH!? I call Truecredit that transfers me to Transunion, and the gal said :" you must have done something, because it's all computed by the mega computer, and computers are never wrong". I asked who checks the computer ... who can analyse my case and give me a logical answer. She answered "nobody, the computer does it all". :noid
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i am totally not surprised by most of these responses,
i don't think we should take from the rich and give to the poor,
i think people are more important than money, and in this society it doesn't matter what, or who you are, its all about whats in your pockets what can you do for me, mentality well whatever, most of you don't believe in God, well you do its called "the almighty dollar"!
Yahaveh will compensate every one for his deeds, and if i were most of you, i would get off the ride this country is going down because its not gonna be a fun one!!! or a short one, eternity away from God, away from LOVE, that is what hell is gonna be like,
sounds fun huh?
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Sounds more like you don't have much money. :t
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this is my own personal opinion and i dont want to get flammed for it either but i have to say it. I think that people should only be going out and buying things they can afford. If you cant afford it save your pennies and money and then when you can go out and buy it.
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Sounds more like you don't have much money. :t
sounds like you have no idea
i have been tattooing for twenty years, any idea what we make an hour????
ill bet more than you!! , hell i bet more than most on these boards,i average $100 an hour BUT ive made up to and over $400 on hour,
ooohhhhhhhhhhhh
im so impressed
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I make $5.75 an hour flying an airplane. Dam you just showed me. I better look into the God thingy you were talking about, the downfall sounds freacky :pray Yahaveh Cesar, is that the guy I need to start looking for?
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I make $5.75 an hour flying an airplane. Dam you just showed me. I better look into the God thingy you were talking about, the downfall sounds freacky :pray Yahaveh Cesar, is that the guy I need to start looking for?
:rofl :rofl
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sounds like you have no idea
i have been tattooing for twenty years, any idea what we make an hour????
ill bet more than you!! , hell i bet more than most on these boards,i average $100 an hour BUT ive made up to and over $400 on hour,
ooohhhhhhhhhhhh
im so impressed
Ok but how much of YOUR money are you willing to hand out to those folks that made bad choices and bail them out???
Me, I make just under $20 an hour. I have my CG retirement as well. Even with that I only clear around $50K a year. I have a mortgage on a house I don't even live in anymore. I have my apartment rent, truck payment, insurance of all types, taxes, child support, and the rest of my daily expenses. I might be able to put $100 in savings a month in a good month. I have NO credit cards and I don't buy anything I can't pay for upfront. Because I manage my money wisely, I live a comfortable life, I'm not in dept up to my ears, and what debt I have I am able to make the payments on every month like I'm supposed to.
Me, I wouldn't toss a freaking penny to someone who got themselves so far in dept they can't get out, yet the government is talking about do just that with my taxes. I've always been held accountable for my actions, I just can't wrap my head around the idea that some people think they shouldn't be held accountable for theirs. Screw em. They made their choices, now let them live with the results.
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Ok but how much of YOUR money are you willing to hand out to those folks that made bad choices and bail them out???
Me, I make just under $20 an hour. I have my CG retirement as well. Even with that I only clear around $50K a year. I have a mortgage on a house I don't even live in anymore. I have my apartment rent, truck payment, insurance of all types, taxes, child support, and the rest of my daily expenses. I might be able to put $100 in savings a month in a good month. I have NO credit cards and I don't buy anything I can't pay for upfront. Because I manage my money wisely, I live a comfortable life, I'm not in dept up to my ears, and what debt I have I am able to make the payments on every month like I'm supposed to.
Me, I wouldn't toss a freaking penny to someone who got themselves so far in dept they can't get out, yet the government is talking about do just that with my taxes. I've always been held accountable for my actions, I just can't wrap my head around the idea that some people think they shouldn't be held accountable for theirs. Screw em. They made their choices, now let them live with the results.
this is one of my points, i have 6 kids with my wife she don't work (WELL actually she does but thats not bringing in any money) every thing in this country is about money!! a gallon of milk is almost 5 dollars, i have to by one every day, its absurd every thing is off the wall, crazy expensive, heck when i first started to tattoo i was happy making 20 dollars an hour!!! this is not the way God intended it to be,
as a matter of fact it says " if a man wont work, then that man dont eat!"
so obviously we need to pull our weight, but in todays society it ain't about that.
the Bible has said what the end of days are going to be like, and no matter how many people don't believe in God don't make him any less real, or the fact that it is exactly like God has said it will be,
well i know i cant change any aspect of whats going on, but my Goal is to reach even one person(hopefully more) who doesn't believe and to make them think, to make them question,
i know i will be ridiculed, the bible said it would happen, but that is okay, at least i am trying!!!!!
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I think this sums up some of the bad decisions being made on both sides of the fence:
As many of you know, I am a longtime resident of Lakewood Mobile Home Court, a gated community on the outskirts of Coralville. When I first moved to Lakewood in 2000, I was attracted by its affordable rental rates and many amenities, such as ample streetside parking, easy access to I-80, and a quiet, low-surveillance wooded area in which to store my automobiles and train my beloved sport dogs. At the time it seemed an ideal neighborhood in which to raise the various children the Iowa courts have assigned me financial support. Here was a place they could run and play carefree, while I relaxed with a drink and conversation with friendly new neighbors like Kyle and Chuck.
After several years of living in the community, however, I began to notice a change. Trash and beer cans and dog waste mysteriously began to pile up. Formerly friendly neighbors became suspicious and wary, and I was saddened to realize they were locking their trailers while away at work. Worse yet, crime skyrocketed, in large part due to the gangs of unsupervised juveniles that roamed the streets and woods. As a concerned parent, with several children facing Iowa's draconian "three strikes" sentencing guidelines, I realized that I needed to get them out of this environment but I didn't know how. Like millions of Americans I dreamed of home ownership, but it remained elusive. Early Sunday mornings I would drive slowly through Majestic Oakewoods, the new luxury housing development on the other side of the woods, with my headlights off, wistfully thinking: "someday... someday."
Then one afternoon while parked outside QuikTrip, Kyle, Chuck and I heard an advertisement on Q-103 for no-money-down, interest-only discount home loans at First Coralville Mortgage. Best yet, the ad promised a free First Coralville Igloo mini-kooler for all applicants regardless of approval! I decided to call for an appointment on the QT pay phone, before Ramesh chased us out.
The whole home buying process can be confusing and intimidating, especially for first time buyers. Luckily, First Coralville mortgage broker Linda Mustaine was there to help guide me through all the steps. Linda explained that the first step to home ownership was getting pre-qualified for a loan. I was surprised to learn that my lack of a full-time "paying job" was no barrier, thanks to FCM's exciting RapidNow Subprime HomeCash program. Linda explained that I could count as income the Worker's Comp settlement I was receiving from the fryer accident, as well as the anticipated flood of tipjar income from a totally awesome blog post idea I've been thinking about. Using a sophisticated financial computer math program, she demonstrated how I could minimize my payments by selecting the 200-year interest-only ARM. The only formality was the credit check, and my TransUnion score was more than adequate after adding in the scores of my cosigners Kyle and Chuck.
The second step was to find a suitable home to fit my needs. I had my eye on a partial new home construction in Majestic Oakewood, and, as luck would have it, the builder was abandoning the project because a series of unexplained construction site thefts had forced him into bankruptcy. It was a handsome colonial with over 3000 square feet of liveable area (5000 if I added some plywood to finish the second story floor), which meant no more arguments between Kyle and Chuck on who had to crash in the kitchen. The older kids, Dakota and Destinee, could each have a room of their own, and there was plenty of space for both of my 50" plasma screens. The full acre lot backed up to the woods, and the backyard was large enough to accommodate my above-ground pool, a rifle range, and a private motocross track for the kids. It was perfect! I quickly worked out a price with the builder, which was well within my $1.6 million prequalifying limit, and even negotiated two Bobcat loaders in the deal. Sure, it would take a lot of "elbow grease" to finish this "fixer upper," but luckily I'm a pretty good "handyman" and had several pallets of bricks and lumber and drywall and PVC pipe I had "collected."
Moving day in April was exciting, especially when I pulled into the driveway of our new home. The kids jumped out of the back of the camper and we began setting up the inflatable gorilla to announce our neighborhood housewarming kegger. I have to admit the new neighbors were a little more "standoffish" than the folks back at Lakewood, but I then realized that Majestic Oakewoods real estate millionaires like us have to be careful. In order to pep up the party I called some of the guys at the El Forasteros clubhouse, and it turned out to be a big success.
Just as we were settling in, though, that's when the trouble began. In August, Linda from the mortgage company called and said that Visa had denied my credit card payment for the mortgage, so I told her to switch it over to my Discover. Then she called back and starts whining that it was denied too. I explained to her that I really couldn't put it on my MasterCard because I maxed that out to convert the basement into a dojo for a new-style martial arts school I'm developing, and that Sensei Dave would have her money after he signs up a few students. I also explained to her that for a older plus-size gal, she totally had it "goin' on," and that maybe we should get together at TGI Fridays for Happy Hour to discuss it, my treat, because my AmEx card was still good.
After five or six margaritas Linda seemed to calm down, and came up with another great financial plan: a home equity ARM. It turns out that in only three months the appraised value of my new house had risen by $50,000, and that First Coralville would lend me the difference! That would be enough to cover all my missed mortgage payments, with plenty left over for a sweet Yamaha dirt bike I had my eye on. We toasted to new beginnings, and my new $200,000 per year income.
That seemed to work for a while, but soon Linda and I drifted apart. She was clingy, but I need time to be with myself and my friends and my dirt bikes. She wanted children, but I had my junk fixed in 2004 after an agreement with a state paternity judge. Linda offered to finance my vasectomy reversal, but I told her my wife probably wouldn't understand and that we should move on.
When I opened the mail on November 1, everthing started to go downhill. For some reason my house payment had gone up by $700 per month! There was no way I was going to squeeze that onto my plastic. I thought that maybe it was some sort of fat-crazy-chick revenge thing from Linda, so when I called First Coralville to complain I asked to talk to her supervisor. "No, it's not a mistake," says the guy. "You have an adjustable rate mortgage, and it adjusted."
"Ex-squeeze-me?"
"Adjustable rate mortgage, A-R-M," he says. "After the first 6 months, it adjusts up to the prevailing interest rate. You should have realized that, because it's all there in your contract."
Who am I, ****ing Oliver Wendell Smallprint? I thought ARM meant "always ready money." I told the dude there's no way I could pay.
"Have you considered refinancing?" he says.
Duhhhh! I had forgotten that another three months had passed since my last home equity loan, so I hopped into the new Benz and drove to First Coralville to collect my quarterly Fifty Large. But when I got there he starts giving me a big song-and-dance.
"I'm sorry Mr. Burge, you don't qualify for home equity financing," he says. "According to the latest appraisal, the value of your home has dropped $500,000. In fact, the value of every home on your block has dropped an average of $200,000 since April."
"WTF??"
"I'm sorry Mr. Burge, home prices in your neighborhood have been hurt by the national housing bubble, and a steep increase in crime and noise."
"Well, what am I supposed to do now?"
"Have you considered moving to Lakewood Mobile Home Court? It's very affordable, and the whole neighborhood has undergone an amazing renaissance this year."
Ever since that day, its been a non-stop job dealing with the phone calls and certified letters and eviction notices. I keep throwing them in the garage behind the Benz and the dirt bikes, but I get the impression these guys are serious. I put up some official-looking "Smallpox Quarantine" signs on the front plastic sheet, but I don't think they'll keep the cops away forever. I can't pay the mortagage, and can barely scrape enough to pay for the $2 million flood insurance policy.
I've had a long time to think about it, and it's finally time to face up to the ugly truth: I'm a victim. A victim of a pernicious system that entices innocent borrowers with 5000 square foot homes and free money and Igloo coolers, only to bury their dreams under a bunch of APR-ARM-XYZ shyster roadkill gobbledygook.
But the blame doesn't rest completely with First Coralville; ultimately, the resposibility lies with our government, and society itself. Because it was you that elected the politicians that allowed this stupid crisis to happen, and continue to sit idly while victims like me lose our American Dream.
But it's not too late to make amends: contact your local elected officials and demand that they do something to alleviate our suffering. Demand an end to ARMs, and demand subprime do-overs. If we don't act now, the entire economy will collapse, and people like me -- and my children, and my dirtbikes -- will be out on the streets looking for a new place to live. Maybe in your neighborhood.
In closing, I have two questions:
Do you really want that on your conscious?
Also, do you have any good tips on starting a flood?
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this is my own personal opinion and i dont want to get flammed for it either but i have to say it. I think that people should only be going out and buying things they can afford. If you cant afford it save your pennies and money and then when you can go out and buy it.
Wow 5-0 got a smart one there! :aok
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But MsBehavn...if most local and state governments can't live within their budgets, why should they? :)
As others have said here...it boils down to personal responsibility as well as living within one's means. Period.
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Ink.. assuming that you "only" average $200 an hour.. that you work 8 hours a day and take a couple of weeks off a year... You make 400 thousand dollars a year.
According to the democrats.. you are not only the evil rich but you are making twice what a rich man who they say should pay at least... 35%.
Are you paying 140 thousand dollars in income tax every year and if not.. why not?
It seems a tad hard to be upset about you having to pay five bucks for a gallon of milk or not making the house payment.
lazs
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Ink.. assuming that you "only" average $200 an hour.. that you work 8 hours a day and take a couple of weeks off a year... You make 400 thousand dollars a year.
According to the democrats.. you are not only the evil rich but you are making twice what a rich man who they say should pay at least... 35%.
Are you paying 140 thousand dollars in income tax every year and if not.. why not?
It seems a tad hard to be upset about you having to pay five bucks for a gallon of milk or not making the house payment.
lazs
haha l wish i worked 8 hours a day!!!
the tattoo business is not like that especially since its become so popular now there are shops every where,when i was growing up in Manchester NH you had to be a MD to do tattoos, so there where none! now in the same town there are 6 tat shops, it still is very seasonal mostly real busy in the summer.
i have worked at 14 tattoo shops, 4 of those i had a part in building! but as it turns out most people have no morals and do things that i do not agree with, for instance say a 18 year old comes in and wants his neck tattood, i will NOT do it, i dont care how much money he is willing to pay, or say a young person wants there hands tattood i will not do it, there are so many things that should not be done in the tattoo business, but people today dont give a crap so they do whatever as "long as we get paid" tattoos are different then any thing out there, we can effect someones life for the negative, or the positive, it should be taken very serious but no it is all about the money!!
so now i do house parties and i am very exclusive in what i do, i have over 12 hours in prevention of blood born pathogens, i am cleaner then most shops at parties!!
the best i ever did was 45k in three months, that was 14 years ago,
my family has suffered because of my beliefs and because i refuse to become the way the world is!
now if you are thinking well i must not be any good check out this
http://www.myspace.com/fieldsofink
i know im not the best but i also know people love my work and i have a bunch of people who are very dedicated to me,
i have been painting for about 5 years, but drawing my whole life, tattooing sense 1988.
but besides all of this, it isn't about me, or the world, or cost of things, or how people are, its about God and how i hope that my testimony will plant a seed.
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http://www.myspace.com/fieldsofink
Ever come to Houston? My guy moved, and thinking about getting another piece.
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Without a doubt one of the biggest evils out there is credit card debt.
It is SO easy to rack up credit card debt that it's not even funny. I'll be up front, there were times I was out of work or under employeed and the kids still needed groceries, food, clothes, etc. We racked up an ungodly amount of credit card debt. It took 4 years, but we've just about got it paid off.
I do not blame anyone but us for our credit card debt.
Now...all the bills are covered. I feel sorry for folks who have racked up $50,000-$60,000-$70,000 in credit card debt and are only paying the minimums each month. They are more screwed than they know.
ROX
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Ever come to Houston? My guy moved, and thinking about getting another piece.
i would love to come out that way, funny last time i was in TX was 13 years ago, got pulled over by TX state trooper on bike, he clocked me at 101 MPH in my 73 Dodge Challenger
believe it or not the guy let me go no ticket!! plus i had no drivers license, just my SS card for ID!
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My personal belief is that the government shouldn't be bailing anyone out for anything with my money.
I also feel that both sides of this issue are to blame. Lending institutions, as well as buyers. A good percentage of which are speculators that got caught with their pants down when the bottom fell out of the housing market.
It all comes down to personal responsibility. When you purchase something it is up to you to make sure that it is what you want and that you can afford it.
I know plenty of people that are home owners, and most of them used common sense when they purchased their homes, so they are not in danger of losing their homes.
When I purchased my home it was just before the boom hit. After three years the rates were down significantly, property values were up, and I looked into refinancing. I could have taken out a huge junk of cash against my equity kept a thirty year mortgage and the payments would have stayed about the same. What I did though was take out no money against the equity went to a fifteen year loan and my payments stay the same as they were on the thirty, except I will have my house payed off in half the time.
I don't carry balances on credit cards I don't buy things I can't afford. Actually making monthly payments on something drives me crazy. Yes, even my house, but I figured I would never be able to save up enough money to buy a house out right, and it beats paying rent.
People need to take responsibility for what they do. They need to learn that there are consequences for their actions. They need to use more common sense and less emotion when making decisions that effect their lives. This attitude of all for today, tomorrow will take care of itself has got to stop if we don't want to become some giant welfare state.
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I make $5.75 an hour flying an airplane. Dam you just showed me. I better look into the God thingy you were talking about, the downfall sounds freacky :pray Yahaveh Cesar, is that the guy I need to start looking for?
no his name is YHVH and and you can find him here! (http://s2.gladiatus.us/game/c.php?uid=29401)
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http://www.youtube.com/watch?v=SJ_qK4g6ntM
I know, our brit brothers humor can be a bit droll and dry, but you must watch the whole thing.
Keep in mind that this thing was done a year before Bear Sterns crashed.
This is so true its scary :lol
shamus
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They nailed it, didn't they?
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no his name is YHVH and and you can find him here! (http://s2.gladiatus.us/game/c.php?uid=29401)
You are already a strong gladiator and you can as such not be mugged!
Haha, hahaha.
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shhhhhh don't give it away.
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I just wanna say that I thank guys like Ink, every day!!! Without him, and guys like him, the trampstamp would be far too rare... Those chicks needed to be tagged! :aok :rock :D
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I just wanna say that I thank guys like Ink, every day!!! Without him, and guys like him, the trampstamp would be far too rare... Those chicks needed to be tagged! :aok :rock :D
tramp stamps do look good!! as long as the body structure isn't to wide.
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Tramp Stamps may look nice on the young 22 year olds, but once they've been married, have a few (or more) kids, those things look like crap... What started out as 1 inch tall & 3 inches wide is now stretched to 3 X 9 ~ looks like real crap (except for maybe the 3 women in the world who maintain size 6 into their 40s). And then how about all of those tattoos on women in less discreet places (like their arms... or ankles...). How do they ever wear a nice dress and not look distasteful?
I dunno. I mean, I don't have anything against women getting tattoos at all. But with something so permanent... it's bound to look like crap sooner or later. On a man, they don't look bad no matter how old the guy gets. No so with a woman.
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Tramp Stamps may look nice on the young 22 year olds, but once they've been married, have a few (or more) kids, those things look like crap... What started out as 1 inch tall & 3 inches wide is now stretched to 3 X 9 ~ looks like real crap (except for maybe the 3 women in the world who maintain size 6 into their 40s). And then how about all of those tattoos on women in less discreet places (like their arms... or ankles...). How do they ever wear a nice dress and not look distasteful?
I dunno. I mean, I don't have anything against women getting tattoos at all. But with something so permanent... it's bound to look like crap sooner or later. On a man, they don't look bad no matter how old the guy gets. No so with a woman.
when you become the age that the tattoo stretches that far you'll be the coolest Grammy on the block!!!
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I was just thinking (Since the topic was money) that it helps up spot the best return on our investment of $30 - $40 on drinks. :devil :rofl
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I was just thinking (Since the topic was money) that it helps up spot the best return on our investment of $30 - $40 on drinks. :devil :rofl
I'm a dork. It took me about half an hour before I got what you were saying.
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Its ok mom... you rock anyway! :rock
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(except for maybe the 3 women in the world who maintain size 6 into their 40s).
It's not up to God to keep women skiny in their 40s, it's up to the woman herself. My wife decided to get her body back under control at 31. She couldn't even last a 5 min Taebo. Now at 42, she still exercises 1 a day, 3-4 days a week. That still pays off, and has a rock hard skiny body w/a hint of muscle definition. She also watches very closely what she eats, but she is not dieting. I mean by that, she bypasses the daily abuse of sugar yummy crap, and fat dripping food. She calls it the "best life insurance on her future". She actually decided to become like that when she was a young broke single man, not being able to afford life insurance. "I needed to become in the best shape to raise my kids properly".
Got to give it up :salute on the lifelong commitment, you should see her getting all pisses when all her fat office coworkers tell her "OMG eat this donut, with a body like your's you can afford it". That's precisely because she doesn't shove down 2 donuts a day that she has a body like that :lol
And then there's my mom, in her 50s still skiny after 2 kids, but then she's from France, we drive small cars so we can't get fat.
Disclaimer
- My wife is not a single mother anymore, please put the $1 bills back in ur pocket
- No, this thread is still worth it without a picture
- Keep your pawns off my mom, you can't handle me as your son
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And then there's my mom, in her 50s still skiny after 2 kids, but then she's from France, we drive small cars so we can't get fat.
in France, obesity rates have been increasing over the past 10 years to reach the current rate of 11.3 percent obese and 40 percent overweight. But based on a glimpse at the sunbathers in Nice, most American tourists would have a hard time believing these statistics.
c'est la vie
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Frenchy ~ great post :aok and :salute to Mrs. Frenchy :)
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She actually decided to become like that when she was a young broke single man, not being able to afford life insurance. "I needed to become in the best shape to raise my kids properly".
I sure hope you meant "single mom". Though... the alternative wouldn't suprise me either. Hopefully, he/she was a U.S. citizen? Would be cool to see you not having to worry about things as much over here.
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:rofl oh my .... "mom" not "man". I'm lucky she didn't read that post, she'll kick my but. :angel:
She is a US citizen. She had some help from the Gvt and used every peny. She was going to Court Reporting school full time, working part time at the school as a clerc and the night shift at Tacobell. Slept about 5h a night for 4 years straight. She didn't date anyone for 10 years either, didn't want to get sidetracked and focus on her daughter. She's a proud mom of a 4.0 GPA National Junior Honor Society 8th grade kid.
After seing the ridiculous abuse of SSI & various social help programs litering the streets of South Central L.A., it's nice to see that such programs can help make a difference in a few people's life. :cool: