Posted by bluegreen08
the thing about the bailout that bugs me is that these people made tons of money by taking big risks... and when it finally came back to get them they get bailed out. guess there was no risk!
Posted by Songstress
Spain does sound pretty tempting. If we moved there something tells me we'd never come home![]()
Posted by Songstress
I just find it crazy how people are calling Obama/Democrats socialists but the republicans who are in office right now want to bail out a huge corporation with our tax dollars. Isnt that the government taking control of our money to bail out (Im not calling it a loan) a huge corporation, giving them 80 percent ownership?? Isnt that considered a socialist move?? Sounds like it to me.
Posted by ant n tilde
Posted by Songstress
I just find it crazy how people are calling Obama/Democrats socialists but the republicans who are in office right now want to bail out a huge corporation with our tax dollars. Isnt that the government taking control of our money to bail out (Im not calling it a loan) a huge corporation, giving them 80 percent ownership?? Isnt that considered a socialist move?? Sounds like it to me.
ITA with you! ( maybe I should have told you to sit down first before I said that)
But seriously it IS definitely a move towards a socialist economy BUT i have to say - since I am not all that informed in all of this, that I am MORE scared of what may happen if we DONT bail them? I dont know what is the lesser of two evils here!
Posted by ant n tilde
Posted by Songstress
I just find it crazy how people are calling Obama/Democrats socialists but the republicans who are in office right now want to bail out a huge corporation with our tax dollars. Isnt that the government taking control of our money to bail out (Im not calling it a loan) a huge corporation, giving them 80 percent ownership?? Isnt that considered a socialist move?? Sounds like it to me.
ITA with you! ( maybe I should have told you to sit down first before I said that)
But seriously it IS definitely a move towards a socialist economy BUT i have to say - since I am not all that informed in all of this, that I am MORE scared of what may happen if we DONT bail them? I dont know what is the lesser of two evils here!
Posted by Songstress
Posted by ant n tilde
Posted by Songstress
I just find it crazy how people are calling Obama/Democrats socialists but the republicans who are in office right now want to bail out a huge corporation with our tax dollars. Isnt that the government taking control of our money to bail out (Im not calling it a loan) a huge corporation, giving them 80 percent ownership?? Isnt that considered a socialist move?? Sounds like it to me.
ITA with you! ( maybe I should have told you to sit down first before I said that)
But seriously it IS definitely a move towards a socialist economy BUT i have to say - since I am not all that informed in all of this, that I am MORE scared of what may happen if we DONT bail them? I dont know what is the lesser of two evils here!
Thank you!! See, Im not saying anything negative about it. Im just trying to understand where all the 'socialism' criers are at a time like this. And Im completely with you as to what will happen if we DONT bail them out. Its like were stuck between a rock and a hard place with only one way out that really doesnt benefit the little guy.
And I dont have to sit down when it comes to you Tilde!! Ive always been capable to have a discussion with you in a civilized manner. It never turned to bashing or personal attacks. I respect your opinion and beliefs and even though we may not have agreed on things I will always be open to your point of view. I also love that we can both laugh at ourselves![]()
![]()
Posted by ant n tilde
Posted by Songstress
Posted by ant n tilde
Posted by Songstress
I just find it crazy how people are calling Obama/Democrats socialists but the republicans who are in office right now want to bail out a huge corporation with our tax dollars. Isnt that the government taking control of our money to bail out (Im not calling it a loan) a huge corporation, giving them 80 percent ownership?? Isnt that considered a socialist move?? Sounds like it to me.
ITA with you! ( maybe I should have told you to sit down first before I said that)
But seriously it IS definitely a move towards a socialist economy BUT i have to say - since I am not all that informed in all of this, that I am MORE scared of what may happen if we DONT bail them? I dont know what is the lesser of two evils here!
Thank you!! See, Im not saying anything negative about it. Im just trying to understand where all the 'socialism' criers are at a time like this. And Im completely with you as to what will happen if we DONT bail them out. Its like were stuck between a rock and a hard place with only one way out that really doesnt benefit the little guy.
And I dont have to sit down when it comes to you Tilde!! Ive always been capable to have a discussion with you in a civilized manner. It never turned to bashing or personal attacks. I respect your opinion and beliefs and even though we may not have agreed on things I will always be open to your point of view. I also love that we can both laugh at ourselves![]()
![]()
WOW ITA AGAIN! I am never afraid of responding to you - thinking that you are going to cry DRAMA or scream that you are offended or something. It is always fun debating with you!
Yes i am scared too. They just laid off 5 people yesterday in my company (i work for a small financial services firm. Lehman was their biggest client, go figure). I'm hoping i'm not going to go anytime soon either! Argh this economy stinks.
I am nervous because I just got married I have so many bills and new responsibilities and I am scared that if I lose my job I will not have a security blanket
Posted by Songstress
Posted by Espo22
Posted by VickiR510
Posted by Kristina2009
All that said, I really to fear for our banks and people's life savings. There is only so much in FDIC. I have no problem with people who live in houses they can't afford loosing their homes. I rent and I don't buy anything I can't pay for. It is the Americans who save that I am concerned for.
The problem with those people who cant afford their homes is that they never quite understood what they were getting themselves into. While i know its not allof them, the ones who really didnt get it i feel bad for. Especially the chldren in those homes.
This is one big HUGE mess.
I fear for those people who may lose everything but i know we will bounce back.We have to. Unfortuantely it is us the tax payer that will be the ones footing the bill!![]()
i blame some of the though. Maybe they didnt understand the depth of it but when it comes down to it, there were ppl buying homes with $4k mortgages a month when they knew they would not be able to afford that. Many ppl unfortunately don't think. They just saw houses they loved, were WAAAAAAAAY out of their budget and in their heads they came up with a way to pay for it. But this meant basically living paycheck to paycheck and forgetting that they have other bills and forgetting that in life things come up and you cant always expect things to go accordingly. There are couples who did this, they saw how high their mortgage would be a month and instead of looking at what they both make AFTER taxes and seeing that it would be hard to keep up with the mortgage payments, they convinced themselves they could do it. It bothers me so much actually, bc again greediness got us where we are now. If you see a house for lets say $850k but know you cant afford, dont come up with ways in your head that make you think you can. But now they had to have it
Before even looking at places, i had combined what dh and i make after taxes and said ok we are not going to pay over X amount a month, no matter what. And we didnt even look at places that were over that, no need. I wanted to make sure we have enough for the mortgage each month but then also have enough for all other bills and for anything that may come up. I was saying about half of what we make combined and even a little under half of what we make would be good.
I agree with you completely. And people will always make bad decisions but wasnt it up to these huge corps to have regulations on this kind of thing and NOT lend the money out??
Posted by Espo22
Posted by ant n tilde
Posted by Songstress
I just find it crazy how people are calling Obama/Democrats socialists but the republicans who are in office right now want to bail out a huge corporation with our tax dollars. Isnt that the government taking control of our money to bail out (Im not calling it a loan) a huge corporation, giving them 80 percent ownership?? Isnt that considered a socialist move?? Sounds like it to me.
ITA with you! ( maybe I should have told you to sit down first before I said that)
But seriously it IS definitely a move towards a socialist economy BUT i have to say - since I am not all that informed in all of this, that I am MORE scared of what may happen if we DONT bail them? I dont know what is the lesser of two evils here!
that is the bad part. If we dont bail them out then we're screwed anyways. If these companies go down and continue to do so then its very likely we could be facing another depression. So its a lose-lose situation.
Posted by VickiR510
Posted by Songstress
Posted by Espo22
Posted by VickiR510
Posted by Kristina2009
All that said, I really to fear for our banks and people's life savings. There is only so much in FDIC. I have no problem with people who live in houses they can't afford loosing their homes. I rent and I don't buy anything I can't pay for. It is the Americans who save that I am concerned for.
The problem with those people who cant afford their homes is that they never quite understood what they were getting themselves into. While i know its not allof them, the ones who really didnt get it i feel bad for. Especially the chldren in those homes.
This is one big HUGE mess.
I fear for those people who may lose everything but i know we will bounce back.We have to. Unfortuantely it is us the tax payer that will be the ones footing the bill!![]()
i blame some of the though. Maybe they didnt understand the depth of it but when it comes down to it, there were ppl buying homes with $4k mortgages a month when they knew they would not be able to afford that. Many ppl unfortunately don't think. They just saw houses they loved, were WAAAAAAAAY out of their budget and in their heads they came up with a way to pay for it. But this meant basically living paycheck to paycheck and forgetting that they have other bills and forgetting that in life things come up and you cant always expect things to go accordingly. There are couples who did this, they saw how high their mortgage would be a month and instead of looking at what they both make AFTER taxes and seeing that it would be hard to keep up with the mortgage payments, they convinced themselves they could do it. It bothers me so much actually, bc again greediness got us where we are now. If you see a house for lets say $850k but know you cant afford, dont come up with ways in your head that make you think you can. But now they had to have it
Before even looking at places, i had combined what dh and i make after taxes and said ok we are not going to pay over X amount a month, no matter what. And we didnt even look at places that were over that, no need. I wanted to make sure we have enough for the mortgage each month but then also have enough for all other bills and for anything that may come up. I was saying about half of what we make combined and even a little under half of what we make would be good.
I agree with you completely. And people will always make bad decisions but wasnt it up to these huge corps to have regulations on this kind of thing and NOT lend the money out??
Totally agree. thats why i said not all of them. I would obviously would never do that. FH & I own 2 homes & thankfully we knew better but also we have had our homes for awhile now. Also it helps that Im an Asst. Comptroller. lol So numbers are my game. lol![]()
Posted by Espo22
Posted by VickiR510
Posted by Songstress
Posted by Espo22
Posted by VickiR510
Posted by Kristina2009
All that said, I really to fear for our banks and people's life savings. There is only so much in FDIC. I have no problem with people who live in houses they can't afford loosing their homes. I rent and I don't buy anything I can't pay for. It is the Americans who save that I am concerned for.
The problem with those people who cant afford their homes is that they never quite understood what they were getting themselves into. While i know its not allof them, the ones who really didnt get it i feel bad for. Especially the chldren in those homes.
This is one big HUGE mess.
I fear for those people who may lose everything but i know we will bounce back.We have to. Unfortuantely it is us the tax payer that will be the ones footing the bill!![]()
i blame some of the though. Maybe they didnt understand the depth of it but when it comes down to it, there were ppl buying homes with $4k mortgages a month when they knew they would not be able to afford that. Many ppl unfortunately don't think. They just saw houses they loved, were WAAAAAAAAY out of their budget and in their heads they came up with a way to pay for it. But this meant basically living paycheck to paycheck and forgetting that they have other bills and forgetting that in life things come up and you cant always expect things to go accordingly. There are couples who did this, they saw how high their mortgage would be a month and instead of looking at what they both make AFTER taxes and seeing that it would be hard to keep up with the mortgage payments, they convinced themselves they could do it. It bothers me so much actually, bc again greediness got us where we are now. If you see a house for lets say $850k but know you cant afford, dont come up with ways in your head that make you think you can. But now they had to have it
Before even looking at places, i had combined what dh and i make after taxes and said ok we are not going to pay over X amount a month, no matter what. And we didnt even look at places that were over that, no need. I wanted to make sure we have enough for the mortgage each month but then also have enough for all other bills and for anything that may come up. I was saying about half of what we make combined and even a little under half of what we make would be good.
I agree with you completely. And people will always make bad decisions but wasnt it up to these huge corps to have regulations on this kind of thing and NOT lend the money out??
Totally agree. thats why i said not all of them. I would obviously would never do that. FH & I own 2 homes & thankfully we knew better but also we have had our homes for awhile now. Also it helps that Im an Asst. Comptroller. lol So numbers are my game. lol![]()
i didnt mean you would do that, hope you didnt take it that way hahaha. I just meant that yes some ppl i feel sorry for but others knew they shouldnt be getting it and still did, its one of those situations that you say after 'but you should've known' But like you said there are some with children who had no idea the mess they were getting into and its sad.
Posted by Songstress
Posted by ant n tilde
Posted by Songstress
Posted by ant n tilde
Posted by Songstress
I just find it crazy how people are calling Obama/Democrats socialists but the republicans who are in office right now want to bail out a huge corporation with our tax dollars. Isnt that the government taking control of our money to bail out (Im not calling it a loan) a huge corporation, giving them 80 percent ownership?? Isnt that considered a socialist move?? Sounds like it to me.
ITA with you! ( maybe I should have told you to sit down first before I said that)
But seriously it IS definitely a move towards a socialist economy BUT i have to say - since I am not all that informed in all of this, that I am MORE scared of what may happen if we DONT bail them? I dont know what is the lesser of two evils here!
Thank you!! See, Im not saying anything negative about it. Im just trying to understand where all the 'socialism' criers are at a time like this. And Im completely with you as to what will happen if we DONT bail them out. Its like were stuck between a rock and a hard place with only one way out that really doesnt benefit the little guy.
And I dont have to sit down when it comes to you Tilde!! Ive always been capable to have a discussion with you in a civilized manner. It never turned to bashing or personal attacks. I respect your opinion and beliefs and even though we may not have agreed on things I will always be open to your point of view. I also love that we can both laugh at ourselves![]()
![]()
WOW ITA AGAIN! I am never afraid of responding to you - thinking that you are going to cry DRAMA or scream that you are offended or something. It is always fun debating with you!
Just admit you like arguing with an ignorant socialist. JUST SAY IT DAMMIT!![]()
![]()
![]()
![]()
Posted by Future Mulligan
i dont understand how a person or a couple that for example made 3K a month thought that they can afford a 3K mortgage or even a $2,500.00 mortgage - i just dont understand it - to me, there is no explanation, you can't say that these people didnt know they weren't going to be able to afford - if they truly didnt realize it, then they are idiots and i dont want to sound mean but are you that financially irresponsible that you dont even know what you can afford?....
i remember in 2005 my FSIL and her husband needed a pre approval letter for when they started house hunting - they were pre-approved for a million dollars - and there was no way they could afford a million dollar home, it was like ridiculous what they got pre-approved for - but they arent idiots, they knew that just because they had a preapproval letter didnt mean they should look at or could afford million dollar homes KWIM?
i dont get it....yes the mortgage brokers were f'd up and yes they took advantage of people BUT shame on the homeowners for not doing their own homework and for being so naive and irresponsible...
this whole thing bothers me, i hate talking about it, i just hope that we dont have to jump through hoops now even though we have impeccable credit just to get a mortgage because of other peoples mistakes and money mismanagement
Posted by VickiR510
Posted by Espo22
Posted by VickiR510
Posted by Songstress
Posted by Espo22
Posted by VickiR510
Posted by Kristina2009
All that said, I really to fear for our banks and people's life savings. There is only so much in FDIC. I have no problem with people who live in houses they can't afford loosing their homes. I rent and I don't buy anything I can't pay for. It is the Americans who save that I am concerned for.
The problem with those people who cant afford their homes is that they never quite understood what they were getting themselves into. While i know its not allof them, the ones who really didnt get it i feel bad for. Especially the chldren in those homes.
This is one big HUGE mess.
I fear for those people who may lose everything but i know we will bounce back.We have to. Unfortuantely it is us the tax payer that will be the ones footing the bill!![]()
i blame some of the though. Maybe they didnt understand the depth of it but when it comes down to it, there were ppl buying homes with $4k mortgages a month when they knew they would not be able to afford that. Many ppl unfortunately don't think. They just saw houses they loved, were WAAAAAAAAY out of their budget and in their heads they came up with a way to pay for it. But this meant basically living paycheck to paycheck and forgetting that they have other bills and forgetting that in life things come up and you cant always expect things to go accordingly. There are couples who did this, they saw how high their mortgage would be a month and instead of looking at what they both make AFTER taxes and seeing that it would be hard to keep up with the mortgage payments, they convinced themselves they could do it. It bothers me so much actually, bc again greediness got us where we are now. If you see a house for lets say $850k but know you cant afford, dont come up with ways in your head that make you think you can. But now they had to have it
Before even looking at places, i had combined what dh and i make after taxes and said ok we are not going to pay over X amount a month, no matter what. And we didnt even look at places that were over that, no need. I wanted to make sure we have enough for the mortgage each month but then also have enough for all other bills and for anything that may come up. I was saying about half of what we make combined and even a little under half of what we make would be good.
I agree with you completely. And people will always make bad decisions but wasnt it up to these huge corps to have regulations on this kind of thing and NOT lend the money out??
Totally agree. thats why i said not all of them. I would obviously would never do that. FH & I own 2 homes & thankfully we knew better but also we have had our homes for awhile now. Also it helps that Im an Asst. Comptroller. lol So numbers are my game. lol![]()
i didnt mean you would do that, hope you didnt take it that way hahaha. I just meant that yes some ppl i feel sorry for but others knew they shouldnt be getting it and still did, its one of those situations that you say after 'but you should've known' But like you said there are some with children who had no idea the mess they were getting into and its sad.
No i didnt take it that way. I love u Espo!!! lol Like i said i agree Some totally knew whatthey were getting into others really just didnt understand & for that its a shame.
Posted by Espo22
Posted by Future Mulligan
i dont understand how a person or a couple that for example made 3K a month thought that they can afford a 3K mortgage or even a $2,500.00 mortgage - i just dont understand it - to me, there is no explanation, you can't say that these people didnt know they weren't going to be able to afford - if they truly didnt realize it, then they are idiots and i dont want to sound mean but are you that financially irresponsible that you dont even know what you can afford?....
i remember in 2005 my FSIL and her husband needed a pre approval letter for when they started house hunting - they were pre-approved for a million dollars - and there was no way they could afford a million dollar home, it was like ridiculous what they got pre-approved for - but they arent idiots, they knew that just because they had a preapproval letter didnt mean they should look at or could afford million dollar homes KWIM?
i dont get it....yes the mortgage brokers were f'd up and yes they took advantage of people BUT shame on the homeowners for not doing their own homework and for being so naive and irresponsible...
this whole thing bothers me, i hate talking about it, i just hope that we dont have to jump through hoops now even though we have impeccable credit just to get a mortgage because of other peoples mistakes and money mismanagement
thats why it gets me so mad. Yes the mortgage brokers are very wrong too but you also need to take responsibility for your own actions and have to realize that of course real estate agents and mortgage brokers are gonna tell you what you want to hear. And no matter what they say, if you make $3k a month and mortgage is $3k a month or 2500 like you said, then you dont need anyone to tell you that you cant afford it. Ive heard how some ppl talk and they come up with all these ideas in their heads. Oh its ok we'll just sacrifice and make it somehow, and wont spend any money. But if your monthly income is basically your mortgage then its not possible, you still have other obligations. I hate to say it too but if i bought a place and my mortgage was basically what i made a month and then i couldn't pay it, then i would have nobody to blame but myself.
Some of the situations are different and maybe one person lost a job so now they had to pay their mortgage with one income so it depends on the situation. Sometimes things happen that can change your whole financial situation.
But yeah many times i get so annoyed now for the process i have to go through and say 'freaking ppl who bought homes they couldn't afford' bc sorry to say, this was mostly the case. A few are the exception such as scenarios i said above, but i think the majority is that ppl got in way over their heads. Then after they buy expensive cars with high payments monthly again not thinking and this cycle just continues.
Posted by ant n tilde
Trust me, I am ALL FOR personal responsibility but what about a MORAL and SOCIAL responsibility for the industry as a WHOLE???!
