 Re: Any mortgage experts out there?
|
Joined: Feb 2007
Posts: 23,186 Likes: 55
Fe Butt
|
Fe Butt
Joined: Feb 2007
Posts: 23,186 Likes: 55 |
Quote:
Quote:
We will have stagflation in the next 18mos.
Hey Ron, I think you meant to say THIS in that OTHER thread, didn't ya ol' buddy?! 
(you know...that one going on right now TOO that's about everybody and his brother runnin' into deer out there on the road lately?!!!) 
You mjean the one about the stagNation? 
I learned all I need to know about life by killing smart people and eating their brains.
Eat right ,Exercise ,Stay fit, Die Anyway!
|
|
|
Re: Any mortgage experts out there?
|
Joined: Jul 2008
Posts: 1,440
Learned Hand
|
Learned Hand
Joined: Jul 2008
Posts: 1,440 |
Quote:
Really i'm just trying to improve my standing by lowering my payments, therefore I won't have to make such sacrifices as selling the bike, etc. I'm not even interested in selling right now, even if the market was better. I don't know all the politics behind all of it, I just know that the new administration inacted all of these programs to help out people with under-water mortgages and such, and maybe I could get some help.
Don't take this personally, but I for one don't think the government should give homeowners relief just because they owe more than the property is worth. The only reason that hasn't happened to me is that I bought ten years ago, so some of the loan is paid off. Nevertheless, I've lost just as much on my property value as my neighbor who bought last year. There's absolutely no reason his loss should be ameliorated with tax dollars when mine isn't.
'08 America Blue/White; Custom Headlamps, Custom Lowers, Clearview 20", Bafflectomy
|
|
|
Re: Any mortgage experts out there?
|
Joined: Feb 2007
Posts: 23,186 Likes: 55
Fe Butt
|
|
Fe Butt
Joined: Feb 2007
Posts: 23,186 Likes: 55 |
I think we should go all the way back to the first stimulus under Bush and start right there. That should not have been done at our expense, nor should any of the following or the bail outs. All that did was drive us farther in debt and I am including Osama's spending. If a business was going bankrupt and going to fail then it should have. I don't see anyone bailing my business out, where is my cut to compensate for my drop in business? In my case it isn't due to bad management the customers are just not there because no one has the money. It is the same story for many of my friends in the same business.
I learned all I need to know about life by killing smart people and eating their brains.
Eat right ,Exercise ,Stay fit, Die Anyway!
|
|
|
Re: Any mortgage experts out there?
|
Joined: Jan 2006
Posts: 7,685 Likes: 20
Monkey Butt
|
|
Monkey Butt
Joined: Jan 2006
Posts: 7,685 Likes: 20 |
You will find no disagreement from me on the bailout issues. Criminals giving criminals our money as a reward for acting badly. My only points in this thread have been to keep the house at all cost and your credit if you can. Not making payments or short selling is something you can always do. Restoring credit or getting your home back once gone is a lot tougher. Yeah, stagflation belongs in the other tread  or would that be passing the buck.
I try to aggravate one person a day. Today may be your day.
|
|
|
Re: Any mortgage experts out there?
|
Joined: May 2006
Posts: 2,647
Loquacious
|
|
OP
Loquacious
Joined: May 2006
Posts: 2,647 |
Quote:
Quote:
Really i'm just trying to improve my standing by lowering my payments, therefore I won't have to make such sacrifices as selling the bike, etc. I'm not even interested in selling right now, even if the market was better. I don't know all the politics behind all of it, I just know that the new administration inacted all of these programs to help out people with under-water mortgages and such, and maybe I could get some help.
Don't take this personally, but I for one don't think the government should give homeowners relief just because they owe more than the property is worth. The only reason that hasn't happened to me is that I bought ten years ago, so some of the loan is paid off. Nevertheless, I've lost just as much on my property value as my neighbor who bought last year. There's absolutely no reason his loss should be ameliorated with tax dollars when mine isn't.
No offense taken. Whether or not either of us like what the gov't is doing, they're doing it. So why not take advantage? I'm not asking the government for money or anything, just want the bank to refinance me at a lower rate like they're doing for so many others. But I understand your point.
06 America 904
|
|
|
Re: Any mortgage experts out there?
|
Joined: Jan 2005
Posts: 3,734
Loquacious
|
|
Loquacious
Joined: Jan 2005
Posts: 3,734 |
Well if you want to get technical about it, we've had government subsidized home loans in this country ever since the 1930s. So what they're doing now isn't much different than what they've always done, it's just ramped up and more intrusive and more obvious given the publicity of their failure.
Btw, I was just reading the Bloomberg wire and noticed that the Freddie Mac acting CFO, who has been with them since 1992, was found dead at his home from a possible suicide. The suspected reason is dodgy accounting methods since there's a DOJ and FBI investigation ongoing, and the acting CFO was also the Comptroller in charge of the accounting department before his latest promotion. Anyway, just more fodder for the fraudulent times we're living in when the criminals took over the mortgage lending industry in this country, from people who lied on their applications all the way up the line to the senior officers of Freddie Mac and Fannie Mae, not to mention the criminals of Wall Street who are still at the helm of their failed businesses that are getting bailed out with taxpayer money.
|
|
|
Re: Any mortgage experts out there?
|
Joined: Jan 2009
Posts: 533
Adjunct
|
|
Adjunct
Joined: Jan 2009
Posts: 533 |
Quote:
Anyway, just more fodder for the fraudulent times we're living in when the criminals took over the mortgage lending industry in this country, from people who lied on their applications all the way up the line to the senior officers of Freddie Mac and Fannie Mae, not to mention the criminals of Wall Street who are still at the helm of their failed businesses that are getting bailed out with taxpayer money.
You left out a key enabling partner: The government. From policies that encouraged, and in some cases mandated, questionable loans to the 170 million plus dollars that Fannie and Freddie spent in lobbying and political campaign contributions; there have been politicians at the national level that have aided and abetted this completely preventable disaster. On the right there were key safeguard regulations relaxed/removed, and on the left there was determined opposition to any timely and direct action regarding Fannie and Freddie. Worse, some of the architects of this mess are still in positions of immediate or peripheral policy influence right now.
It irks me every time anyone wants to blame the greedy this or greedy that, while giving the most singularly greedy class of criminal enablers in America a free pass.
2018 FLHCS
2014 Surly Straggler - 16,000 miles and counting!
|
|
|
Re: Any mortgage experts out there?
|
Joined: Jan 2005
Posts: 3,734
Loquacious
|
|
Loquacious
Joined: Jan 2005
Posts: 3,734 |
I didn't leave them out, just didn't want to do more typing or tread over the AUP here. Like I said, the fraud and enabling covered every spectrum of the process, and that includes the government and the Federal Reserve when they lowered the prime rate after 9/11 that encouraged all these bubbles by making low credit rates available.
And yes, when it comes to CONgress, a pox on both of their houses, but then we aren't supposed to talk politics here so I'll leave it at that.
|
|
|
Re: Any mortgage experts out there?
|
Joined: Jan 2009
Posts: 533
Adjunct
|
|
Adjunct
Joined: Jan 2009
Posts: 533 |
Quote:
...tread over the AUP here.
Heh, I have rapidly become a repeat offender in that regard. 
2018 FLHCS
2014 Surly Straggler - 16,000 miles and counting!
|
|
|
Re: Any mortgage experts out there?
|
Joined: Jul 2008
Posts: 1,440
Learned Hand
|
|
Learned Hand
Joined: Jul 2008
Posts: 1,440 |
Quote:
It irks me every time anyone wants to blame the greedy this or greedy that, while giving the most singularly greedy class of criminal enablers in America a free pass.
Danm, that's good. 
'08 America Blue/White; Custom Headlamps, Custom Lowers, Clearview 20", Bafflectomy
|
|
|
Re: Any mortgage experts out there?
|
Joined: Feb 2005
Posts: 20,096 Likes: 2
Fe Butt
|
|
Fe Butt
Joined: Feb 2005
Posts: 20,096 Likes: 2 |
Uh huh! And that kind'a reminds me of what Billie Holiday said a long time ago... "Them that's got shall get Them that's not shall lose So the Bible said, and it still is news" (...but God bless the child who can find a lender for his mortgage today, HUH?!)
Yep! Just like a good Single Malt Scotch, you might call me "an acquired taste" TOO.(among the many OTHER things you may care to call me, of course)
|
|
|
Re: Any mortgage experts out there?
|
Joined: Jul 2008
Posts: 1,440
Learned Hand
|
|
Learned Hand
Joined: Jul 2008
Posts: 1,440 |
Ya mean BS&T didn't write that????? Now I'm really mad. 
'08 America Blue/White; Custom Headlamps, Custom Lowers, Clearview 20", Bafflectomy
|
|
|
Re: Any mortgage experts out there?
|
Joined: Feb 2005
Posts: 20,096 Likes: 2
Fe Butt
|
|
Fe Butt
Joined: Feb 2005
Posts: 20,096 Likes: 2 |
Nope. They didn't, Jackson!  (...but they DID do a darn good cover of it alright!) 
Yep! Just like a good Single Malt Scotch, you might call me "an acquired taste" TOO.(among the many OTHER things you may care to call me, of course)
|
|
|
|
|
