why that was nice

[Flipx99 5,000+ posts]

They also didn't tell the customers about the extreme prepayment penalities that prevent the customer from converting to a more stable fixed rate.

 

[profoundwill 10+ year member]

If you aren't smart enough to know that your rate, and payment, will go up with an ADJUSTABLE RATE MORTGAGE, you deserve to lose your fukin' house.

Retards.

//content.invisioncic.com/y282845/emoticons/handclap.gif.0c301076f534e244f0460706894f19e0.gif

 

[fatblunt 10+ year member]

Your missin a few things, your pretty gangsta but this ish' will put you OOOOOOOFFFFF DA HOOK!

Ok so first things first,

You need to have a blunt in your mouth, only the finest purple kush there is.

A m4 in one hand and you gotta have it loaded like your about to go ape s**t and blow a crowd of peoples heads off and point it at the camera so you can see right down the barrel.

Last but definetly not least.. stack of 100's in the other hand... its gotta be so big to the point you couldn't hold any more if you wanted to.

And to make it a classic, you gotta get the picture where your all "this is my pocket change" while you throw all your money in the air and look like a dumbass as it falls to the ground and now you have to pick it up.. BUT the point is you gotta do it to make it look like you don't care if you just dropped it..

cause, YOUR RICHHHHHHHH BIAAAAAAAATCH

EDIT: Can't forget the bandana over your face.. and a hat that comes down right to your eyes so you can hardly see your face... and you'll be set.

.....//content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif

 

[Flipx99 5,000+ posts]

Also, you do realize this is as much a bailout for consumers and a penalty against the mortgage lenders. You do see this, correct?

 

[2kchevy06civic 5,000+ posts]

^^^^^^^^^^^ //content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif

 

[snoopdan 5,000+ posts]

I dont agree they should get bailed out for stupidity. I saw those advertisements for outragously high-out-of-reach dwelling mortgages and thought "I cant in good faith pay that monthly, how the fuck do they do it?"

oh wait, they couldn't

It reminds me of that one commercial where the guy is riding around in a new lawnmower on his perfect front yard, in front of his 1.5 million dollar house, and next to his 3 cars while he's exclaming "im in debt up to my eyeballs"



I also hear lenders might be prosecuted for lending practices.... might be a good thing for them to get their collective dicks slapped.

 

[Flipx99 5,000+ posts]

I know if I went to a physician and he said to take these pills, I took them and it made me terribly sick, I think he should be responsible, not myself.

 

[fatblunt 10+ year member]

haha don't mind me, I'm just ripped...

opening this thread I was picturing that, for whatever reason... then I saw the pics and thought with a gun and a bunch of money it would be hilarous...

I would pchop it but I don't have the skills..

Had a good laugh.. haha this thread is jokes.

 

[hoss 5,000+ posts]

i agree that there were tons of people who should have known better, but the lenders should have known better too... there really isnt anyone group of people you can point blame at in this situation (well, you can at the lenders for sucker punching hundreds of thousands of peole, but at the same time you have to point back at the hundreds of thousands of people for not stopping to think)

but more so, the lenders were flat out lying and decieving to the point where often times people were so mislead they didnt know what was going on. for instance, piggy backing ARM papers on top of fixed rate loan papers, and then discarding the fixed rate papers to lock the people into an adjustable rate mortgage that they didnt want...

something needed to be done, i dont know if this is the right answer. i think the lenders should be the one bailing people out, after all, they were the ones who were trying to make it rich in this scheme, and now its come back to bite them just as hard... why not make it hurt even more.

 

[BigJohnson 10+ year member]

My concern with this is that I am one of the people who was responsible enough to say that "I cannot afford to spend 500,000 on a house in LA" and now I am essentially being punished for it. Due to saving the people who were irresponsible with their money it is going to slow the rate in which housing costs fall, thus forcing me to wait longer to buy a home, if at all. Since we can bail out irresponsible people how about the government covers my down payment? It's just frustrating to live in a time when a household making a six figure income cannot afford a home....

 

[hoss 5,000+ posts]

My concern with this is that I am one of the people who was responsible enough to say that "I cannot afford to spend 500,000 on a house in LA" and now I am essentially being punished for it. Due to saving the people who were irresponsible with their money it is going to slow the rate in which housing costs fall, thus forcing me to wait longer to buy a home, if at all. Since we can bail out irresponsible people how about the government covers my down payment? It's just frustrating to live in a time when a household making a six figure income cannot afford a home....

dont worry, this is about a 6-10 year cycle that happens like clockwork. things will be back to normal in about 2 years.

personally, i am very glad to be in charlotte, NC //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif .

 

[Flipx99 5,000+ posts]

i agree that there were tons of people who should have known better, but the lenders should have known better too... there really isnt anyone group of people you can point blame at in this situation (well, you can at the lenders for sucker punching hundreds of thousands of peole, but at the same time you have to point back at the hundreds of thousands of people for not stopping to think)
but more so, the lenders were flat out lying and decieving to the point where often times people were so mislead they didnt know what was going on. for instance, piggy backing ARM papers on top of fixed rate loan papers, and then discarding the fixed rate papers to lock the people into an adjustable rate mortgage that they didnt want...

something needed to be done, i dont know if this is the right answer. i think the lenders should be the one bailing people out, after all, they were the ones who were trying to make it rich in this scheme, and now its come back to bite them just as hard... why not make it hurt even more.

The mortgage lenders are essentially paying it. They made those loans with anticipation of certain profits from interest. The freeze is curtailing those profits significantly. I think it is a good option.

My concern with this is that I am one of the people who was responsible enough to say that "I cannot afford to spend 500,000 on a house in LA" and now I am essentially being punished for it. Due to saving the people who were irresponsible with their money it is going to slow the rate in which housing costs fall, thus forcing me to wait longer to buy a home, if at all. Since we can bail out irresponsible people how about the government covers my down payment? It's just frustrating to live in a time when a household making a six figure income cannot afford a home....

While this comment is true, a crash in the price of housing is not as pretty as you would think.

 

[faulkton 5,000+ posts]

My concern with this is that I am one of the people who was responsible enough to say that "I cannot afford to spend 500,000 on a house in LA" and now I am essentially being punished for it. Due to saving the people who were irresponsible with their money it is going to slow the rate in which housing costs fall, thus forcing me to wait longer to buy a home, if at all. Since we can bail out irresponsible people how about the government covers my down payment? It's just frustrating to live in a time when a household making a six figure income cannot afford a home....

Exactly.

Another fine example of government helping the stupid, while fukkin' those who prepare.

 

[Flipx99 5,000+ posts]

Exactly.
Another fine example of government helping the stupid, while fukkin' those who prepare.

I wish housing prices would fall in a similar fashion as they fell. We'll see who needs a government bailout when you are standing in a god damn bread line.

 

[Relax 10+ year member]

My concern with this is that I am one of the people who was responsible enough to say that "I cannot afford to spend 500,000 on a house in LA" and now I am essentially being punished for it. Due to saving the people who were irresponsible with their money it is going to slow the rate in which housing costs fall, thus forcing me to wait longer to buy a home, if at all. Since we can bail out irresponsible people how about the government covers my down payment? It's just frustrating to live in a time when a household making a six figure income cannot afford a home....

If you are waiting for prices to fall even more, and are making six figures, you have got some other money management issues you may want to look at.

I go to college, work 35 hours a week and live alone, in a house I own. Its a 3 bedroom, 2 bath townhome. Not huge, but certainly big enough to support a family of 4.

As far as the gov't. "bailing" out people- I am on the fence. If it works as intended and keeps thousands from foreclosing, then it may be the best option. However, I have trouble believing that a large amount of the foreclosures and potential foreclosures are not related to the mortgage's interest rate, but rather homeowners buying more then they could afford for 25 or 30 years.

Without any sort of gov't intervention, there is a huge risk the economy would be pulled down even further as thousands of mortgages were/are foreclosed in the future. Everyone should have realized the way the market was going several years ago, that is was unrealistic to continue selling as many homes for an extended period. The result of many builders and developers as well as home buyers believing the market would continue on its blazing path is what has caused the current state of the economy.