I agree with Miss Kitty, that's what I will do with my $13. Gotta get the principal paid down.
What's going to happen in a few years when no one can make their mortgage payments? The housing forclosures and abondoned houses will look like all the car lots. Then do I get to live in my house "free"? What is countrywide going to do with it? Sell it for what it isn't worth?
Such a sad situation, for all of us. I can only pray that some benefit will come of this. |
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I am getting a little bit tired of hearing that EVERYONE who is behind on their mortgage bought a house they could not afford as a blanket statement. It is downright offensive. I know many people in forclosure, that are behind or have lost thier homes. When they bought their homes they were responsible. Unfortunately they all lost their jobs due to a failing economy. When you lose your job it is hard to pay the mortgage. Its worse to get laid off and be called irresponsible for it. I know a lot of people were in over their heads, but not everyone. For those who were in over their heads, a lot of the mortgage companies pushed for loans and put the dream in customers heads. |
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vladimir estragon writes: Friday, February, 20, 2009 6:06 PM
Mega-dittoes, dskerman
Some people seem to think these things operate in a vacuum. What would you rather have, your next door neighbor getting some assistance from the government, or an empty house with a "For Sale" sign that's getting moldy after a couple of years?
My neighbor is already on public assistance, he uses that money to fund his drug operation while the police look the other way.
I'll take the moldy house, thank you. |
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I don't know who you are or if what you wrote was supposed to be tongue and cheek but if you meant what you said your an idiot.
The whole premise that we can borrow ourselves out of debt in misguided, and if that notion came from the geniuses in the administration their idiots too. Just the response from the markets should be enough to indicate we are heading in the wrong direction. They are just taking their cue from a failed policy in the thirties. If FDR's policies were so successful why did it take us 15 years to get out of the depression? FDR succeeded as a wartime, he failed misserably in his dimestic polocies. |
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The "four million" homeowners get foreclosed, they go back to the apartments they should have stayed in, and a crop of new, responsible homeowners come along to buy the now properly priced houses. They move in, pay their mortgages like the rest of us, the trillions of phony dollars are wring out of the housing market and we go on.
What in the hell is so screwed up in the Democrat mind that it demands to apply brightly colored Band-Aids to every condition from the smallest cut to the full-on exsanguination just so they can smile and bob and tell each other what nice people they all are. |
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We just zero out the balance sheets for banks and lenders? Pick a date, delete the liabilities, and everyone starts over again with their net assets. All countries roll back to $0 (which would be great news for us), we fire all of our leaders and we start up the whole economic experiment thing all over again? |
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We are also running out of people who work hard for their money, who stress the importance of education, who believe in God and ethical principles and who believe in Liberty and Freedom. |
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"We're running out of rich people!!!!" |
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Throughout the campaign, Obama said he was going to build the economy from the "bottom up". That America needed to be more "fair". That was and is his plan for America. The poor will get everything given to them and the rich will pay for it.
The middle class will be championed by Joe Biden and get what Joe Biden gets - absolutely nothing (except laughed at).
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I feel like sending my $13.00 in to countrywide each month for my mortgage payment. Since I pay my mortgage on time, I feel like I have a lawsuit against them for fraud. They knew about the sub prime loans. They paid for play with senator Dodd. I want my money back. |
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wE think Thomas Jefferson prettyt much covers much about our situation today in two quotes made by him over 200 years ago. Our founders feared what we are living today:
1.“If a nation expects to be ignorant and free, in a state of civilization, it expects what never was and never will be.”
2.“I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.
Go see for yourselves at Michelle Malkin what we saw:
I don’t think the president is clueless. I think he knows exactly what he is doing. Tutored by communists and making a career of destroying the productive for the benefit of the leeches. No, he knows what he is doing.
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HERE hr219 and VETS LOCKBOX LAW AND COLA WILL SUCCESSFULLY PROTECT SOC SEC AND MEDICARE AND MEDICAID and YET WASH DC SLUGS PREFER to TURN in an SOCIALIST healthcare which will let YOU NOT SOMEONE ELSE you/your child to DIE. how will this NATION silence the screams of people left to die because of USA STUPIDITY???
At birth we pick up yeast in the canal which goes on to cause the weight gain allergies,asthma osteporosis acid reflux acne all part of what is called in medical community as THE SILENT KILLER that has it's grip on this Nation thru to heart disease. Allergy/asthma meds fine print tells you while pharma meds give temporary reprieve in the long run it makes COPD WORSE and everyday YOU'RE ONE PHARMA MED/ANTIBIOITICS you are one day CLOSER to the X PERCENT on stimulus bill which will be left to DIE GOOGLE HR219, VETS LOCKBOX LAW & COLA PROTECTION |
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Yeah, lets believe leftwingnut bloggers over the WALL STREET JOURNAL..... |
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STIMULUS is a variation MADOFF SCHEME thru to REAL ESTATE a fiscal muslical chairs and when it's done it will BE THE PUBLIC left holding empty purse strings. NO WONDER Madoff contributed so heavily to Obama campaign. Wanna know what happened to all those ACORN HOMES?? All boarded up. DEM/ACORN all along whom caused the meltdown admitted by clinton in 1999 ny times in CONGRESS/SEN investigation. CLINTON CAUSED THE WAR BEFORE 911 BY TELL US LAWMEN to go home empty-handed when they went to YEMEN to ARREST BIN LADEN.
NOW?? STIMULUS DENIES ADULTS/CHILDREN meds and when VETS COME HOME FROM WAR it will be YOU /YOUR KIDS/VETS/AGED WITH YOU left to silence the screams without medds BECAUSE OF YOUR STUPIDITY they will be left to die because American's are too stupid to realize that because someone runs for office AND throws money around (mostly untraceable sources) doesn't mean they love USA OR IT'S PEOPLE. |
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I truly love Michelle! Who else can give us these gems?
"...many members of Congress have "a real aversion to capitalism..."
"...we're running out of rich people!..."
But, usually Michelle just flat-out lies: "$5 billion to acorn!" Pure science fiction. |
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I feel stupid for being fiscally responsible all of these years, saving up, and ONLY buying a house when I could get and afford a mortgage for a decent place.
I should have spent more money on vacations, expensive dinners, and all kinds of merchandise I didn't really need, so I could be "struggling" now, and let OTHER PEOPLE PAY MY BILLS!
I should have bought a house I couldn't afford and lived it up! And then I could STAY THERE even after I PROVE I couldn't afford it!
I've learned my lesson. |
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we get the idea what he meant by "JFK Jr",....do you need us to send you a telegram, genius? |
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Thanks, dude. Jr. was in my generation. His old man was the prez. his ideas were so old and out dated. Look what that light weight said like a 100 years ago;
"The worst deficit comes from a recession and if we can take the proper actions at the proper time, this can be the most important step we can take to prevent another recession. That is the right time for a tax cut. A creative tax cut, creating more jobs and income and eventually more revenue. Across the board top to bottom in both corporate and personal income taxes. The billions of dollars it will place in the hands of the consumers and our businessmen will have both immediate and permanent benefits to our economy. Every dollar released from taxation will help create a new job and new salary. These new jobs and new salaries and other new jobs and salaries. And more customers and more growth for an expanding American economy."
What a moron. I am glad the Obama Men are ignoring stupid stuff like this.
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"a guy like JFK, Jr. when he faced a recession."
I don't think there were any recessions during the time he was running the magazine. Were you referring to some other period? |
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These arrogant sob's at the WSJ. This administration knows what it is doing. President Obama has assembled the greatest minds ever to serve in the White House. Forget about the "old" economic theories espoused by intellectual light weights like Jefferson or a guy like JFK, Jr. when he faced a recession. The dopey Japanese didn't have the right amount of spending and targeted programs in the 90's like we have here with this talented group of super,skilled and smart Obama Men, like Geithner!! What about Reagan's tax cuts? We know they didn't work. Again, when you are in massive debt, the key is to spend as much as you can as fast as you can. It doesn't matter on what or where you have to borrow it from. Between the combination of geniuses in the White House and Congress and the spending plan they have put in place, we should all sit back, relax and shut the hell up. |
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The WSJ reports that salvaging these foreclosures and pre-foreclosures still results in a default rate of over 55% after 6 months time. So the feds will spend the money and still have the abandoned home at the end of the street 55% of the time. It does not work because they cannot bring enough of a fix to the deal. People in foreclosure are not typically a little under water they are WAY underwater. So the feds are ready to dump money into homes that will still not keep the homeowners in them. The banks will foreclose and they will reap whatever equity reduction YOU paid for. |
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Some people seem to think these things operate in a vacuum. What would you rather have, your next door neighbor getting some assistance from the government, or an empty house with a "For Sale" sign that's getting moldy after a couple of years? |
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that housing prices do not operate independently of one another.
If these "irresponsible" home owners all default and get foreclosed it will have a tremendous negative effect on home prices everywhere.
So while not every home owner is getting money directly from the program, it should wind up benifiting all homeowners by protecting the value of their home from further meltdown. |
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