A bunch of slap happy morons giving mortgages to dead beats
and caffine junkies wanting to flip this and that.
But worst of all is the corrupt self serving politicians who encourged
all of the above!
Joe wise guyof MD6:03PM December 04, 2010
Where did you learn how to write and spell???
Steve-oof MN4:50PM May 25, 2010
The banks need to reduce the balance to what its worth today and reduce the payments so people can keep there homes. a lot of people have glitches on there credit and no one now a days except for those lucky not to file for a chapter 7 like i did to get rid of my unsecured debt cant refi or get some kind of relief. My mortgage was modified thru citi but you need to miss two payments, mess your credit up then they will help you cause the loan isnt current. Then you get he run around and you have to pay some one to help you. then it works out. my loan is 400k its worth 250k. payment before mod $2500 after mod $1443 for first year. $1643 for the second year. $1900 for the life of the loan i guess its not bad but rental props are getting hit by renters loosing jobs and owners cant make those payments so they have to let rental prop go in short sale or forclousre.
Topaceof CA4:00PM May 13, 2010
I HAVE A RENTER THAT RENTS ONE OF MY INVESTMENT PROPS. HE AND HIS WIFE LOST THERE JOBS CANT PAY A DIME SELF EMPLOYED. FELL BEHIND AND I CANT PAY HIS RENT TO PAY THE LENDER CHASE. SHORT SALE IS THE ONLY OPTION. AND RELEASE OF LIABILITY IS IF RENTER LEAVES THEN TWO MONTHS WILL GO BUY WHAT WE WANT FROM THE LENDER. I WOULD HAVE TO DRAIN MY SAVINGS TO KEEP UP WITH THE PAYMENTS UNTIL I FIND A RENTER. I HAVE CHAPTER 7 DISCHARGE AND CAN I AFFORD TO LET THIS PROP GO. LETTING IT GO MY ONLY OPTION TO THE BANK ?
Topaceof CA3:47PM May 13, 2010
You know, with everything that has been speculated and said it all comes down to one thing. GREED. Whether it was the banks allowing over equity purchases or signing under qualified people into mortgages, designing negative ammortization and adjustable rate loans. Price gouging by sellers and agents, embezzeling execs receiving ludicrous bonuses on top of more ludicrous salaries, government officials getting fat off of corporate deals or the inate feeling that we all have to have more in our lives....bigger, better etc, the reality is this crisis was ultimately caused largely by our own decisions and lack of education about the things we were getting involved with. Many people went with the mantra, "I want" rather than "I need". Sure, there were true victims but in most cases, someone's greed caused someone else's misfortune.
Billof NY2:49PM April 30, 2010
The sales pepla needto be responsable for a % of the sale and the banks when they sale the morgage. then only good loans would be made . income should only be75% of two family homes not a 100%. let the lenders BEAR RESPONSABILTY when they boundle loans to sin the bond market.
tedof IL11:05AM April 30, 2010
the regulations should have been:
you are required to put at least 10% down when you buy a house.
then the market would not have cracked and so many become under water.
It will be difficult to get back to this standard but it is required for a healthy market.
to las wages nevada, having been in the industry for 30 means you should have known better than to put yourself in a situation where you could lose your house.
fredof CA12:37PM April 19, 2010
Oregon? Socialist? Maybe you would be happy to give up your claim on social security & medicare when the time comes. After all, they are social ideas. Oregon is a wonderful state & I love it.
Marilynof OR11:38AM April 19, 2010
TAXES, TAXES and MORE TAXES to pay for ever-expanding dysfunctional government "spending others' money !
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We are developing a private island village with 600 m2 ocean-front lots with access to a fully-protected lagoon for boaters' moorings (no fees), with 99-year & renewable leases for US$3,850. each (not a typo) ! We suggest a 3-lot commitment to provide 'buffer' lots to each side of a building lot - open space between the bluff lots and the beach/ocean and no one can ever build behind the lots !
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Visit us at: http://www.TongaIslandProperties.com - get away from the "cattle drive" in the U.S., Canada & other western countries where individuals are being controlled more and more by governments and taxed, taxed and taxes some more !
Cocomo Johnof CA10:22AM April 19, 2010
I have been in the housing finance business for over 30 years. I have never seen anything like this. I live in Las vegas and lost my home. When lenders started using credit scores for approvals.The end was near. Also, lending to investors with little or NO income or down payments. I know investors that recieved loans to buy their 8th and 9th house after my company turned them down..There was way to much cheating going on!!!!
I am now in the Modification Business trying to save these same people. Kama
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Joe wise guy of MD 6:03PM December 04, 2010
Steve-o of MN 4:50PM May 25, 2010
Topace of CA 4:00PM May 13, 2010
Topace of CA 3:47PM May 13, 2010
Bill of NY 2:49PM April 30, 2010
ted of IL 11:05AM April 30, 2010
fred of CA 12:37PM April 19, 2010
Marilyn of OR 11:38AM April 19, 2010
Cocomo John of CA 10:22AM April 19, 2010
Las Wages Nevada of NV 6:30PM March 24, 2010