Regular people with a subprime mtg
Posted By: Human not perfect on 2009-02-18
In Reply to: Then you were one of the smart ones. - Backwards typist
We have owned 2 homes in our married life...never missed a payment for 25 years, not even one day late. I was MTSO of my own service, and suddenly the hospitals were taking longer and longer to pay my invoices. I had 8 subs working for me who I continued to pay before I paid myself. Then I had to have emergency surgery which took a while to recover from so I had to give up my business. Then I went to work for a local service, who did not pay, even while she was building a 3000 sq foot $300,000 house. In the meantime my son was a senior who wanted to go to a private college and his scholarships did not cover everything. We had used our savings so pay our bills so refinanced our house. Our credit rating had gone down some due to being late on credit cards (but never on mtg) so our rate was higher but we were supposed to get enough money to pay off all our bills including car payment but we get there and oops interest rate is higher and not enough money to pay off all our bills. We should have walked away but what were we going to do our son was already at the college and we had no other way to pay for it. Got another job, oh they didn't have enough work, picked up part time work job, they lost the account and before you ask, I looked for work outside this field but could not find anything more than $10/hour even with my skills (Exec secretary at that fortune 500 company and all my transcription skills and customer service skills) so we ended up having to file Chapter 13 bankruptcy. We pay our mtg but if I have 1 bad month (and you know how this business is) we are in danger of losing our house all over again. We always tried to do what is right and pay our bills...we did not get more house than we could afford but when you lose your job (not once but 3 times), then in our industry the hospital personnel thinking because you work at home you don't need the money and don't pay you for weeks and weeks, have to have major surgery, etc. things just snowball out of control. Oh last year I finally did get a job outside this field making pretty good money a year managing a multiuse building with arts and crafts but after less than a year when the owners weren't making a million dollars a month they lost interest and closed it. Believe me my husband and I never thought we'd be the ones to be in this mess, not in a million years. Just thought I'd let you know that not everybody in this mess was trying to get more house than they could afford or pull one over on anyone, things just snowballed.
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Prime not Subprime
Check out the mortgage failures.
Tell me which failed more, prime or subprime
Tell me what is the rate of failures under the CRA or even Bush's ADDI (which i attack alll the time)
Once again, REALITY AND THE DATA doesn't fit ya'lls claims.
Basically what happened was.. we reformed bankruptcy laws.. so that people who ran into dire straights could not restructure.
We packaged the loans into commodity derivatives. These are sorta mirror bets on the loans. Sorta..as the same loan will be sold many times in many derivative packages.. that's why the housing derivatives are worth more than all the real estate in the US. Derivatives are actually not that bad.. when a market is stable and only has to deal with natural forces. The housing market was bubbled.. partially due to low interest rates that encouraged everyone to buy, even the rich, and partially due to the CRA and the ADDI.. which did add customers to the market (helping form the bubble was the extent the CRA and the ADDI had in this mess)
All it took was a few failures to pop the bubble..and make real estate prices drop,. and mind you, it was mainly prime loans (READ not loans given to poor people and not loans under the CRA) that failed. The derivative market.,.which like I said, is really mirrors of the same loans.. cause the defaults to explode with ten times the ferocity, because one loan could effect the price of dozens of derivatives.
Really the poor and even irresponsible people .. simply did not have the economic ability to cause this mess. Pool all their money together and waste it on hookers.. it would have zero effect without help from the rich elites and their magnifying packaged derivatives.
THE CRA and ADDI both had stricter requirements than loans you got from normal banks.. both required income data.. where many prime loans did not.. they also greatly limited you on how much home you could purchase..whereas private banks did not care if you tried to buy something you could not afford.
Don't believe me?.. Look in the phone book.. call your own housing authority - you can get a loan for 106% the purchase price of a home even today.. if you're poor enough.
Ask to hear the red tape and hoops you must go through.. Heck, it is probably easier to just get a real job and earn real money than go through the FHA.
The subprime mess sm and iraq too
Really started about 5 years ago when the mortgage brokers were given money incentives to sign on subprime even to people who qualified for conventional loans. They fraudulently did not offer the conventional loans to people who didn't even need subprime. It was all about the commissions. And your precious GW is the one who kicked off the loans with NO DOWN PAYMENT...!!! He saw this mess coming and he figured SS dollars going into wall st, which he TRIED TO DO in 2005 but got voted down... he figured our SS money would bail out Wall St.
Yes, so I do blame him. I also blame him for pretending this Iraq war was for our security when it was about oil and cheney getting richer and oil men getting richer. $350 million a day and thousands of young people's lives lost. For what? He pretended there were WMD which there were not. He pretended it was related to 911, which it was not. Bunch of dips following him, waving a flag, when he has dragged our beautiful country way down.
That is correct, ms. And I don't believe that your regular...
Democrat on the street agrees with this nonsense...at least I hope not!! But they are allowing the DNC to define their party as low-life attack dogs and this stuff is as low as it gets. It is orchestrated with the media hoping John McCain will drop her from the ticket because they are scared spitless they will lose in November. All I hear is tap, tap, tap...hammering nails into their own coffin. Who wants ANYone from a party with this kind of values or lack thereof in the white house? Not me. Not now. Not EVER.
regular pot smokers have less of every disease.
nm
Both parties are hypocrites, just as in regular
nm
Farmer down the street says regular Americans
nm
O'Reilly, etc. are not "the regular news."
Try watching the morning news at 6 a.m. or during the day until 5-6 p.m. That's the news I'm talking about.
O'Reilly and the others are like Chris Matthews, Keith Oberman, and all those other fellas. They are more like a political talk shows. That's not news.
Do you know that emergency rooms are not for regular healthcare?
x
Early studies show that regular smokers of pot, (don't know...sm
how regular regular is), seem to have less incidence of Alzheimer disease. If true, an interesting tidbit I thought.
Do you know that emergency rooms are for emergencies and not regular healthcare?
x
So you and your daughter have no problem with people who wish for people and their children sm
to burn in hell, call people's children ugly, etc. etc. Well, you might not BE gt, but you might as well be. Even the liberals don't agree with gt, or hadn't you noticed? You might want to check that out and while you are at it, the conservative board has been a regular play pen since the liberals stopped their hateful dive bombing. In fact, some really good conversations are taking place over there between both sides, which DOES NOT happen on this site.
Bored people are BORING people.
nm
Is that how your people justify killing people?
So then you only like to where people who say what you believe have to say.
Pretty sad. At least the consevatives here weather the storms and stay. That pretty much says a lot about you and them, too. It's sure not like you guys never took pot shots over there. Of course, I am sure it wasn't YOU. Right.
gee, 100,000 people vs. 400 people
100,000 = anti-war protesters
400 = anti-anti-war protesters
Statistics from today's White House rally.
Now shoo, run along home now back to your hole or cave or whatever you crawled out of.
I consider the people..
and programs I mentioned fair and balanced. Meet the Press, Hardball, Tyler Carlson on CNN, Face The Nation. They said that they would not accept Drudge as reliable information, not I although I don't but my opinion carries less weight than that of those mentioned above.
100 people
This was a SMALL gathering, and as stated above, Jews tend to support abortion rights more than any other group (15-20%). So this small group hardly speaks for the majority of the Jewish Community.
She has none of those people that we know of ... sm
She just got announced. I am not saying that there is anything in her background, but it is early and I am sure if there is one iota of a person in her background then we will here about it. For this whole experience thing, what have we got in the past 8 years and the past 8 before that with all of the so-called experience the Rep. think we need.
Why are we still bring up Rev. Wright? Can't we just move past that? We've heard it all.
Sorry, people....
The blame for the way Katrina was handled lays completely with the democratic Louisiana governor, Kathleen Blanco, and the democratic New Orleans mayor, Ray Nagin.
They didn't follow the protocol for disasters.
However, now Bobby Jinda, Republican governor, is in charge, and he is handling things the way they should have been back then.....
Why are people so
focused on outward appearances? It is a person's heart that shows true beauty......not their face. A face can change over time, but a pure heart remains and that is what is important.
Are these the same people
who can afford their cigarettes and beer?
people should have been more
people make financial mistakes... perhaps some people wouldn't be hurting so badly right now if they had been living within their financial means to begin with.
Why can't more people see that?
My husband has been saying that same thing for the past few years. I am so sick and tired of working so hard to make a good life for my family, only to have *big government* take half of my money to give to people who won't lift a finger and want government to take care of them. It just makes me sick! I don't know why so many people are so blind to this.
some people say
is the line Hannity uses to introduce such wild statements without accepting responsibility for stating them. The post says the GROUP endosed McCain -- did not libel McCain. Simply an example of how people are willing to run with any statement that supports their beliefs against a candidate.
God is in the People
Slice and dice in the womb - 2.1 million babies murdered.....fanatical ravings indeed
Who are these VERY BAD people....
I'm not coming up with anything when I Google the internets..........
545 people
I'm cutting and pasting from an email my friend sent me. Thought it was interesting enough to post here. I really hope the spacing is okay. The title of the email was "how to become a former columnist"
Charlie Reese is a former columnist of the Orlando Sentinel newspaper.
545 PEOPLE
By Charlie Reese
Politicians are the only people in the world who create problems and then campaign against them.
Have you ever wondered why, if both the Democrats and the Republicans are against deficits, we have deficits?
Have you ever wondered why, if all the politicians are against inflation and high taxes, we have inflation and high taxes?
You and I don't propose a federal budget. The president does.
You and I don't have the Constitutional authority to vote on appropriations.
The House of Representatives does.
You and I don't write the tax code, Congress does.
You and I don't set fiscal policy, Congress does.
You and I don't control monetary policy, the Federal Reserve Bank does.
One hundred senators, 435 congressmen, one president, nine Supreme Court justices = 545 human beings out of the 300 million who are directly, legally, morally, and individually responsible for the domestic problems that plague this country.
I excluded the members of the Federal Reserve Board because that problem was created by the Congress. In 1913, Congress delegated its Constitutional duty to provide a sound currency to a federally chartered, but private, central bank.
I excluded all the special interests and lobbyists for a sound reason.
They have no legal authority. They have no authority to coerce a senator, a congressman, or a president to do one cotton-picking thing. I don't care if they offer a politician $1 million dollars in cash. The politician has the power to accept or reject it. No matter what the lobbyist promises, it is the legislator's responsibility to determine how he votes.
Those 545 human beings spend much of their energy convincing you that what they did is not their fault. They cooperate in this common con regardless of party.
What separates a politician from a normal human being is an excessive amount of gall. No normal human being would have the gall of a Speaker, who stood up and criticized the President for creating deficits. The president can only propose a budget. He cannot force the Congress to accept it.
The Constitution, (supposedly) the supreme law of the land, gives sole responsibility to the House of Representatives for originating and approving
appropriations and taxes. Who is the speaker of the House? She or he is the leader of the majority party. She or he and fellow House members, not the
president, can approve any budget they want. If the president vetoes it, they can pass it over his veto if they agree to.
It seems inconceivable to me that a nation of 300 million can not replace 545 people who stand convicted -- by present facts -- of incompetence and
irresponsibility. I can't think of a single domestic problem that is not traceable directly to those 545 people. When you fully grasp the plain truth that 545 people exercise the power of the federal government, then it must follow that what exists is what they want to exist.
If the tax code is unfair, it's because they want it unfair.
If the budget is in the red, it's because they want it in the red.
If the Marines are in IRAQ , it's because they want them in IRAQ .
If they do not receive Social Security but are on an elite retirement plan not available to the people, it's be cause they want it that way.
There are no insoluble government problems.
Do not let these 545 people shift the blame to bureaucrats, whom they hire and whose jobs they can abolish; to lobbyists, whose gifts and advice they
can reject; to regulators, to whom they give the power to regulate and from whom they can take this power. Above all, do not let them con you into the belief that there exists disembodied mystical forces like 'the economy,' 'inflation,' or 'politics' that prevent them from doing what they take an oath to do.
Those 545 people, and they alone, are responsible.
They, and they alone, have the power.
They, and they alone, should be held accountable by the people who are their bosses, provided the voters have the gumption to manage their own employees.
it's not about the people who can't
x
I want to know why people like
Dodd and Frank aren't being held accountable? Why aren't the CEOs being held accountable? It thoroughly ticks me off that this is literally being swept under the rug. I want to see some punishment here. It is like they all got a get out of jail free card or something. WTH? They all lined their pockets with money and we are the ones paying for it and suffering. People walking away with millions of dollars with no consequences at all while we are left to pay for their misdeeds. I'm totally disgusted! I say we clean house and start all over with new people. I wanna show these politicians that I'm tired of being screwed over by them. I really feel like this bailout was the rich bailing out their rich friends.
A lot of people are saying
Don't underestimate Gov. Sarah Palin. She knows more than people give her credit for and she's smart as a whip. Looking forward to the debate.
As for McCain's heath, I wouldn't weigh too heavily on that. He's been cleared of cancer now for at least 7 years by his doctor and is cancer-free. To be worried about that would be the same if something was to happen to Barack or Biden - would you really trust Pelosi as president? That would be too laughable if it weren't so scary. I would say if you agree with McCains policies (which I believe are going to be better for the country than Barack Osocialist's policies) then vote for him. Also remember. There are people who direct every president. There has never been any president who has ever done anything without the approval of their bosses. At least John McCain and Gov Palin will be surrounding themselves with the people who know what's going on and how to handle whatever situation arises with better solutions than the people who Obama would surround himself with. I trust that more than anything.
Yep! And yet so many people still want
more government! Unbelievable.
Because so many people are NOT sensible
nm
AND YOU ARE THE SAME PEOPLE WHO SAY
nm
545 People ..................sm
Good little summary about who we should get rid of.
545 PEOPLE By Charlie Reese
Politicians are the only people in the world who create
problems and then campaign against them.
Have you ever wondered why, if both the Democrats and
the Republicans are against deficits, WHY do we
have deficits?
Have you ever wondered why, if all the politicians are
against inflation and high taxes, WHY do we have inflation
and high taxes?
You and I don't propose a federal budget. The
President does.
You and I don't have the Constitutional authority
to vote on appropriations. The House of
Representatives does.
You and I don't write the tax code, Congress does.
You and I don't set fiscal policy, Congress does.
You and I don't control monetary policy,
the Federal Reserve Bank does.
One hundred senators, 435 congressmen, one president,
and nine Supreme Court justices 545 human beings out of
the 300 million are directly, legally, morally, and
individually responsible for the domestic problems that
plague this country.
I excluded the members of the Federal Reserve Board
because that problem was created by the Congress. In
1913, Congress delegated its Constitutional duty to provide
a sound currency to a federally chartered, but private,
central bank.
I excluded all the special interests and lobbyists for a
sound reason. They have no legal authority. They have
no ability to coerce a senator, a congressman, or a
president to do one cotton-picking thing. I don't
care if they offer a politician $1 million dollars
in cash. The politician has the power to accept
or reject it. No matter what the lobbyist promises, it is
the legislator's responsibility to determine how he votes.
Those 545 human beings spend much of their energy
convincing you that what they did is not their fault.
They cooperate in this common con regardless of party.
What separates a politician from a normal human being is
an excessive amount of gall. No normal human being
would have the gall of a Speaker, who stood up and
criticized the President for creating deficits. The
president can only propose a budget. He cannot force
the Congress to accept it.
The Constitution, which is the supreme law of the land,
gives sole responsibility to the House of Representatives
for originating and approving appropriations and
taxes. Who is the speaker of the House? The leader
of the majority party. He/She and fellow House members,
not the president, can approve any budget they want. If
the president vetoes it, they can pass it over his veto if
they agree to.
It seems inconceivable to me that a nation of 300 million
can not replace 545 people who stand convicted -- by
present facts -- of incompetence and irresponsibility.
I can't think of a single domestic problem that is not traceable directly
to those 545 people. When you fully grasp the
plain truth that 545 people exercise the power of the
federal government, then it must follow that what exists is
what they want to exist.
If the tax code is unfair, it's because they want
it unfair.
If the budget is in the red, it's because they want
it in the red.
If the Army & Marines are in IRAQ , it's
because they want them in IRAQ .
If they do not receive social security but are on
an elite retirement plan not available to the people,
it's because they want it that way.
There are no insoluble government problems.
Do not let these 545 people shift the blame to
bureaucrats, whom they hire and whose jobs they can
abolish; to lobbyists, whose gifts and advice they can
reject; to regulators, to whom they give the power to
regulate and from whom they can take this power. Above
all, do not let them con you into the belief that there
exists disembodied mystical forces like 'the
economy,' 'inflation,' or 'politics' that prevent them from doing what they take an oath to
do.
Those 545 people, and they alone, are responsible.
They, and they alone, have the power.
They, and they alone, should be held accountable by the
people who are their bosses
Charlie Reese is a former columnist of the Orlando
Sentinel Newspaper.
What you do with this article now that you have read it
is up to you, though you appear to have several choices.
1. You can send this to everyone in your
address book, and hope' they' do something about
it.
2. You can agree to 'vote against'
everyone that is currently in office, knowing that the
process will take several years.
3. You can decide to 'run for office'
yourself and agree to do the job properly.
4. Lastly, you can sit back and do nothing, or
re-elect the current bunch.
YOU DECIDE, BUT AT LEAST SEND IT TO EVERYONE IN YOUR
ADDRESS BOOK,
MAYBE SOMEONE IN THERE WILL DO SOMETHING ABOUT IT
Maybe people
who don't put a lot of stock in a name. Should McCain/Palin be elected, I hope you will like what you get.
It may not be for you but still is for a lot of people. nm
.
I wish more people were like you
Then the need for welfare would be obsolete.
In our backwards town the people you are reporting to are more than likely relatives of those on welfare! I've brought it up a few times to officials, but nothing ever gets done. They basically say "mine your own business" well it is my business if it's MY tax dollars.
I'm glad to hear things are working out for you now. We aren't very high on the hog either, about at his ankles I would say :) but we get by, and we reach out to those we can. I love our church because they reach out a lot and I've seen at least five people come in who never attended our church and no one at our church knew, and I've watched members hand them money, knowing they would probably never see them or it again. I've watched our preacher take the money from the offering plate and hand it to them. Which is what a church should do. Now maybe those people weren't nothing but drug addicts or alcoholics, but people gave freely, and that's the difference. No one should be forced to give to those less fortunate. That just breeds animosity and class warfare.
I like to give most people the benefit of the doubt, and I tend to trust in people as a whole, but the more I get burnt, the more trust I lose in society as a whole. I'm learning to look at people with a more critical eye, and I don't know if that is a good thing. But after all the abuse of the system I have seen in my town and the towns surrounding, it just makes me really against giving anymore into the welfare system. Not without a total revamping of it. But, we are forced to, so I guess I will! :)
I know people who have had
for babies that were miscarried.
I lot of people use
sm and NM when they post. Does not mean they are the same person. Thank you for the apology.
ah, what about the people
who want freedom like you and i have?? Freedom isn't free. It takes sacrifice, something too few understand anymore.
Some people believe everything
they hear. This is just now "coming out." Doesn't that tell you something? Two days before election? Show me where he said it on VIDEO tape that is reported on the news.. Don't give me this audio stuff. I don't care if you support McCain but for God's sake, don't be going off on witch hunts. 
Actually - I'm sure it was on a lot more people's
seriously, if you cast your ballot ahead of time and then you die for the election, does your vote still count? I'm just wondering if she already submitted her vote, because if so, I think it shouldn't be counted.
oh no!!! do you think people really believe that? How sad! (sm)
But she has a mortgage...so she won't get a lot of help under O's plan will she?
It is sad that some people can't
get past the us versus them mentality, and it's not just with politics.
Not what most people want to see BUT
Let's face it, most of us are having turkey for Thanksgiving and I, for one, don't believe my turkey dinner died of natural causes.
most people
think I shouldn't waste my time replying. I am going to agree with them.
These are some of the same people whose
mortgage we are probably all going to be paying for. The normal, civilized people in our group of friends don't worry about having to stand in line to save a few bucks on something everybody else has already.
and most people think he should be doing more -
what gives? Nobody can be satisfied. If he does not say or do anything, then he is wrong, if he says something, he is wrong!!!
I don't understand why everybody just wants to complain all the time...
Be happy!
Oh, so it is people like you who keep
time! That's why they always have more viewers than those other ones who are so jealous that they mention O'Rielly at least 3 times a week, usually more.
And people wonder why I have such....(sm)
disdain for christianity. Hey Lu, where was your scripture when you agreed with the genocide of palestinians? Or are you just picking and chosing the verse that suits you best in any situation. So typical and predictable.
The right people? You would know this how?
x
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