People

[BRUTAL64]

I try to help people save their home from foreclosure and other such Mortgage issues.

But, in the few scant weeks I've been doing this, I have discovered that people are their OWN worst enemy.:lmfao:

[Damian]

Yeah, a lot of people bought houses they couldn't afford in the first place.

[Shaolin Crane]

A lot of people are stupid

[94cobra69ss396]

I have friends that bought into arm loans and had to refinance to be able to afford the payments before their rate went up. It wasn't an uncommon thing when I bought the house I'm in now back 10 years ago. We were smarter than that and went with a fixed rate. But we also made sure that we didn't buy a house that we couldn't afford the payments on with just a single income. My wife doesn't work, except on occation when she helps my uncle out with his custom furniture business, so we made sure we didn't over buy.

[BRUTAL64]

I have friends that bought into arm loans and had to refinance to be able to afford the payments before their rate went up. It wasn't an uncommon thing when I bought the house I'm in now back 10 years ago. We were smarter than that and went with a fixed rate. But we also made sure that we didn't buy a house that we couldn't afford the payments on with just a single income. My wife doesn't work, except on occation when she helps my uncle out with his custom furniture business, so we made sure we didn't over buy.

H.A.M.P. Making Homes Affordable---is very use full for most people...you should look into it. You may be able to get a Modification --which on average is about 40% drop in monthly payments---interest rate no higher than 4%usually closer to 2%---fixed. This done with your current loan and current lender with permanent modification.

In California you can do this for free.:bigthumbsup:

We do Mods in 41 states...Cali is not one we do.

If you have questions...just let me know.

[94cobra69ss396]

We took advantage of that about a year ago and are only paying around 3% if I remember correctly. My wife handled all that. but it brought our payment down like $350 a month.

[BRUTAL64]

We took advantage of that about a year ago and are only paying around 3% if I remember correctly. My wife handled all that. but it brought our payment down like $350 a month.

Good job!:bigthumbsup:

[Shaolin Crane]

I would like to have a house, who's giving them out?

[Leedom]

I would like to have a house, who's giving them out?

We need one too!

[Vettezuki]

This is actually part of the reason I am a supporter of EXTREME free markets. No, what we had and what we continue to have is fairly far from an actual free market. The reason boils down to financial transactions under absolute free market conditions become very strict profit and loss calculations, without having to satisfy any externally imposed conditions ("fairness in lending", and other total horseshit) and with no feeling of there being a "backstop" or "lender of last resort" that can literally inject capital from nothing. Basically you would still have "greed" but it would be moderated by fear. What we had was a lot of greed for profit or gain (on both sides of the transaction) but no moderation by fear. And no, there is no right to a loan or to owning a house just because you're a nice law abiding person who works. The capital to real property trade has nothing whatsoever to with that. Maybe that sounds harsh, but how many people got the ever living shit kicked out of them, lost everything, even ending up homeless or in tent cities (never covered much on the news) because of stupid decisions that would never have been tolerated en mass in a real market. Would they not have been better off renting, or buying a much less extravagant house and continue building along in a market that didn't collapse after a boom? I think so.

Anywho. Yea, it's kind of shocking to me still how many people are just flat out terrible with basic money skills.

[BRUTAL64]

This is actually part of the reason I am a supporter of EXTREME free markets. No, what we had and what we continue to have is fairly far from an actual free market. The reason boils down to financial transactions under absolute free market conditions become very strict profit and loss calculations, without having to satisfy any externally imposed conditions ("fairness in lending", and other total horseshit) and with no feeling of there being a "backstop" or "lender of last resort" that can literally inject capital from nothing. Basically you would still have "greed" but it would be moderated by fear. What we had was a lot of greed for profit or gain (on both sides of the transaction) but no moderation by fear. And no, there is no right to a loan or to owning a house just because you're a nice law abiding person who works. The capital to real property trade has nothing whatsoever to with that. Maybe that sounds harsh, but how many people got the ever living shit kicked out of them, lost everything, even ending up homeless or in tent cities (never covered much on the news) because of stupid decisions that would never have been tolerated en mass in a real market. Would they not have been better off renting, or buying a much less extravagant house and continue building along in a market that didn't collapse after a boom? I think so.

Anywho. Yea, it's kind of shocking to me still how many people are just flat out terrible with basic money skills.

ok.....oh yea.....right.......people are stupid on whole.

[fiveohwblow]

ok.....oh yea.....right.......people are stupid on whole.

*wave*

[Vettezuki]

ok.....oh yea.....right.......people are stupid on whole.

People on the whole are not stupid, but may be ignorant. They always respond to incentives.

On the flip side a few saw this whole thing winding up and made. an absolute killing on the short side. That's impressive. It should also be slightly concerning because one of them in particular is saying the fundamentals are so bad long term, that a the "developed" western world in particular is in for a cluster fuck that is going to be even worse than this recent adventure . . . by a lot. Fortunately, there will be some time before that happens.Also I think technology might be a wild card that has never existed quite the same as ever before.

[BRUTAL64]

People on the whole are not stupid, but may be ignorant. They always respond to incentives.

On the flip side a few saw this whole thing winding up and made. an absolute killing on the short side. That's impressive. It should also be slightly concerning because one of them in particular is saying the fundamentals are so bad long term, that a the "developed" western world in particular is in for a cluster fuck that is going to be even worse than this recent adventure . . . by a lot. Fortunately, there will be some time before that happens.Also I think technology might be a wild card that has never existed quite the same as ever before.

No the IQ has dropped in the last 20 years:lmfao:

[Vettezuki]

No the IQ has dropped in the last 20 years:lmfao:

It wasn't high to begin with. :nutkick:

[BRUTAL64]

It wasn't high to begin with. :nutkick:

:lmfao:

[enkeivette]

I try to help people save their home from foreclosure and other such Mortgage issues.

But, in the few scant weeks I've been doing this, I have discovered that people are their OWN worst enemy.:lmfao:

Ya, a lot of people act entitled. Sometimes Glenn, you just gotta choke a bitch.

[enkeivette]

No the IQ has dropped in the last 20 years:lmfao:

Rent the movie "Idiocracy," youll love it.

[Vettezuki]

Rent the movie "Idiocracy," youll love it.

It's a pretty good documentary about the future.

[BRUTAL64]

Rent the movie "Idiocracy," youll love it.

That is one of my favorite movies. I been seeing the Idiocarcy in people for years now.:rolleyes2:

[enkeivette]

That is one of my favorite movies. I been seeing the Idiocarcy in people for years now.:rolleyes2:

You like money too? We should hang out

[Vettezuki]

You like money too? We should hang out


Joe: Man, I could really go for a Starbucks, you know?
Frito: Yeah, well, I really don't think we have time for a hand job, Joe.

[injdinjn]

The CRA was the cause of this, forcing banks to loan to minorities and which artificially raised home values. Read "The Housing Boom and Bust" by Thomas Sowell. the book is under 200 pages but he has 21 pages of references to back up his statements.
My son bought a house in 2004 and it was the 4th home transaction I had been involved in. I got drug in because they would not approve the loan on just him. He was making near 6 figures and no bills, but my house is debt free and I think that's why. Anyway it was the worst loan scrutiny I ever experienced, they did everything but shove cameras up our asses.
Then in 2008 I find out latinos in Santa Ana are buying homes near downtown for $400k and no income verification.
The good part is his adjustable was fixed for 5 years and by the time it was adjusted the interest when down, twice now. The bank gambled and lost. LOL
I can understand some people refiing for new cars and remodeling as I got hundreds of junk mails to refi. They made it very tempting.
I read recently where the Feds were requiring the banks to relax the 30% rule again to get more minority home loans.
Oh, and when the Democrats did the study to prove that minorities got turned down for home loans more than whites they had to leave out the Asians as they get turned down less then whites. Govt crooks adjusting the results to fit their agenda.

[enkeivette]

Joe: Man, I could really go for a Starbucks, you know?
Frito: Yeah, well, I really don't think we have time for a hand job, Joe.

Lol