The RetrieverTraining.Net Forums The Retriever Academy
Total Retriever Training with Mike Lardy
Hawkeye Media Gunners Up Tritronics Outdoor Media
Page 2 of 3 FirstFirst 123 LastLast
Results 11 to 20 of 26

Thread: U.S. unveils plan to shrink some home loans

  1. #11
    Senior Member kjrice's Avatar
    Join Date
    May 2003
    Location
    Las Vegas, NV
    Posts
    2,415

    Default

    The "reported" UE numbers and the true UE numbers are not the same, with the reported being lower. Where I live, 82% of ALL home owners are upside down due to the ridiculously shrinking price. In a more astounding view, homeowners that bought over the last 10 years....

    This editorial in today's paper is excellent: http://www.lvrj.com/opinion/still-no...-89319987.html

    "...
    And all this after 14 months of this administration squandering more billions of dollars on "stimulus" and "jobs" bills than any government in the history of the world.
    They haven't worked. They were never anything but pork grab-bags. Only the free market can create lasting jobs, and free market entrepreneurs respond primarily to lower taxes, less job-killing regulation and a predictable economic environment.
    That's the dead opposite of, "Guess which walnut shell the new tax is under? Nothing up my sleeve. But look! Behind your ear! Cap-and-tax! Card check! A new Value Added Tax! And how about a big bouquet of alien amnesty, wrapped around a new multi-trillion-dollar federal health care bureaucracy, guaranteed to double your private premiums in two years, starting with 16,500 new IRS agents?"
    So this is "change."
    Last edited by kjrice; 03-27-2010 at 05:32 PM.
    A lot of people are afraid of heights. Not me, I'm afraid of widths.

  2. #12
    Banned
    Join Date
    Oct 2007
    Posts
    1,560

    Default

    Well, I'm not upside down on my mortgage, but I'm still in the 'ME' category that Carol described. My modest, responsible life style, that my wife and I built not once, but twice, is in jeopardy because my employer figured he could hire three of me in India. And all of this just 5 years short of retirement.

    My wife and I went down the tubes, through no fault of our own, 20 years ago, and spent the next 15 years clawing our way back to break even. Now, once again through not fault of our own, we are in danger of loosing it all. We did nothing to deserve our bad, or our good fortune. But, no amount of work on our part made a damn bit of difference. It had nothing to do with hard work, personal responsibility. It was good, or bad luck that turned the tide back and forth.

    We are just starting down the road Carol has already traveled. But, we are not traveling alone. There is a caravan of responsible people who did it all right, and responsibly, and who are going down the tubes.

    How did that happen?

  3. #13
    Senior Member luvmylabs23139's Avatar
    Join Date
    Jun 2005
    Location
    North Carolina
    Posts
    3,818

    Default

    I can see both sides of this argument. Let's face it, beyond the people who over bought on their house there is also the group that while they may not have over bought they still were not exactly conservative in their finances. People refinanced or took out 2nd mortgages against the equity in their homes and bought toys, took trips etc.
    People had 2 brand new 40,000 cars in the garage.
    Those of us that basically drive their cars into the ground before we replace them, only take a vacation when the CASH is in the bank etc. have a right to be mad at a bailout for those people.
    When the condo market bombed in CT in the early 90's many people just walked away buying another property before ditching the condo to the bank.
    We kept ours for 10 years and rented it. I couldn't handle living surrounded by all the section 8 renters. WE were the resposible ones.
    Hihope Hiland Heathen of Perth CD, RE, CGC, TDI

  4. #14
    Member Major Pain's Avatar
    Join Date
    Feb 2010
    Location
    Indiana
    Posts
    94

    Default

    Quote Originally Posted by luvmylabs23139 View Post
    I can see both sides of this argument. Let's face it, beyond the people who over bought on their house there is also the group that while they may not have over bought they still were not exactly conservative in their finances. People refinanced or took out 2nd mortgages against the equity in their homes and bought toys, took trips etc.
    People had 2 brand new 40,000 cars in the garage.
    Those of us that basically drive their cars into the ground before we replace them, only take a vacation when the CASH is in the bank etc. have a right to be mad at a bailout for those people.
    When the condo market bombed in CT in the early 90's many people just walked away buying another property before ditching the condo to the bank.
    We kept ours for 10 years and rented it. I couldn't handle living surrounded by all the section 8 renters. WE were the resposible ones.

    Its hard to see the whole picture when you limit your vision. Your only looking at the part you want to complain about. We all know there are many cases where couples/families bite off more than they can chew. Now the part you refuse to slow down and look at are the families who have managed their money well, honest, simple and hard working, all to lose their job due to this out of control economy. So these people are screwed because you don't approve of the Gov. trying to help out? This plan is designed to help Americans for limited qualifications. I'm sorry people abuse and mismanage their money, but there are so many that can HONESTLY use help. I would hope your good neighbor, whose lost his job and needs time to find a new job or make a life changing decision, could get your support and not a 'sorry bout your luck' attitude.
    You say you were the responsible ones....take away your employment and income....whats does that responsibitly do for you now
    God bless our Troops and their Family!

  5. #15
    Senior Member
    Join Date
    Jun 2009
    Location
    Eastern NC
    Posts
    2,755

    Default

    Just in case you guys missed it, the article specifically said this...

    "Some people simply will not be able to afford to stay in their homes because they bought more than they could afford," the document said.
    I'm not in a rush to help them.

    As far as people in a situation like snickles, I can understand where they would expect to deserve some help and I can't disagree on a human level that I would like to give them help. But please tell me what makes this the responsibility of the government. I can't find anything in the constitution that compels the government to bail out ANYONE at ANYTIME for ANYTHING.

    I think the correct answer (as bad as it sounds) would be that people that got screwed this time around are just, well, screwed. To prevent situations such as snickles from happening in the future, the govt should make it more difficult/less profitable/less appealing to companies to ship jobs overseas. You can't be upset with the company for that. They are in business to make money...Make it so that shipping out jobs doesn't help them make anymore money. Problem solved.

  6. #16
    Banned
    Join Date
    Jan 2003
    Location
    Pac NW
    Posts
    3,790

    Default

    Or maybe, just maybe, "WE" (as Americans) have become "lax" in what is acceptable.

    50 years ago, MOST people owned outright their homes.

    Now, its become "acceptable" to owe on the house, owe on the car and have "some" cc debt.

    Maybe a shift needs to happen away from indebtedness in general??

    WRL

  7. #17
    Senior Member badbullgator's Avatar
    Join Date
    Dec 2004
    Location
    somewhere between Boca Grande and Mims
    Posts
    7,300

    Default

    While I understand that people like Chuck and Carol are caught up in this due to unemployment, there are equal or greater numbers that did in fact over buy. These people may also now be unemployed, but they bought houses that were far out of their range. Our area is FULL of houses that 3 years ago were “listed” and being sold by builders for 300-400K that were NEVER worth more than 100K. Lehigh Acres and Cape Coral were sold and sold for way more than they were ever worth. We are taking 10’s of thousands of homes. I laughed when I saw the prices on these houses. Lots that sold for 5K were going for 80K. Neighborhoods that were selling for 78K began going for 300K. I went with my nephew to a builder when they were looking for a house. The sales pitch was the price of the house and the lot is 290K and there is a year wait to have it built and move in, by that time it will already be worth 350K. I do feel bad for those who have lost jobs and are now losing houses. I also feel bad for those who got caught up in the real estate boom and sold there home to upgrade to a nicer/bigger house only to find out know that the nicer/bigger house is worth less than the house they sold. I am still not sure that the government can buy our way out of this problem.
    Views and opinions expressed herein by Badbullgator do not necessarily represent the policies or position of RTF. RTF and all of it's subsidiaries can not be held liable for the off centered humor and politically incorrect comments of the author.
    Corey Burke

  8. #18
    Senior Member luvmylabs23139's Avatar
    Join Date
    Jun 2005
    Location
    North Carolina
    Posts
    3,818

    Default

    Quote Originally Posted by Major Pain View Post
    Its hard to see the whole picture when you limit your vision. Your only looking at the part you want to complain about. We all know there are many cases where couples/families bite off more than they can chew. Now the part you refuse to slow down and look at are the families who have managed their money well, honest, simple and hard working, all to lose their job due to this out of control economy. So these people are screwed because you don't approve of the Gov. trying to help out? This plan is designed to help Americans for limited qualifications. I'm sorry people abuse and mismanage their money, but there are so many that can HONESTLY use help. I would hope your good neighbor, whose lost his job and needs time to find a new job or make a life changing decision, could get your support and not a 'sorry bout your luck' attitude.
    You say you were the responsible ones....take away your employment and income....whats does that responsibitly do for you now
    Personally. I am damn sick and tired of the gov't deciding who has a "right" to my hard earned money. This is nothing more than a SOCIALIST redistribution of wealth.
    We have always planned for the worst. 2 years of mortgage payments are sitting in the bank. We always overpay our mortgage. Maybe we are old school but we want our house paid off ASAP.
    Hihope Hiland Heathen of Perth CD, RE, CGC, TDI

  9. #19
    Senior Member
    Join Date
    Jun 2009
    Location
    Eastern NC
    Posts
    2,755

    Default

    Quote Originally Posted by WRL View Post
    Or maybe, just maybe, "WE" (as Americans) have become "lax" in what is acceptable.

    50 years ago, MOST people owned outright their homes.

    Now, its become "acceptable" to owe on the house, owe on the car and have "some" cc debt.

    Maybe a shift needs to happen away from indebtedness in general??

    WRL
    Winner winner chicken dinner...

  10. #20
    Senior Member luvmylabs23139's Avatar
    Join Date
    Jun 2005
    Location
    North Carolina
    Posts
    3,818

    Default

    Quote Originally Posted by WRL View Post
    Or maybe, just maybe, "WE" (as Americans) have become "lax" in what is acceptable.

    50 years ago, MOST people owned outright their homes.

    Now, its become "acceptable" to owe on the house, owe on the car and have "some" cc debt.

    Maybe a shift needs to happen away from indebtedness in general??

    WRL
    That is really the whole problem. While we have a mortgage on our home our goal has always bean to pay off the mortgage early, and we are way ahead of schedule.
    Why should someone who is on a path to eliminate a debt early have to pay for someone else who takes the other aproach.
    Hihope Hiland Heathen of Perth CD, RE, CGC, TDI

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •