homes in foreclosure top 1 million

[FQRizzo]

As much complaining as people do. Most don't make the effort to do anything about it either.

Yeah! Maybe we should complain about it on an internet message board.

 

[Chimera 1]

I was talking fuel oil being $5.00 Jason. Not gas.

And, I'm making the switch to electric myself.

I looked into switching but since my house was built in 1925 and has a very small attic, i was told there is no room for duct work for forced air. So we looked into baseboard electric, again we were told we need to upgrade to 200 amps from 100 amps, then have our house rewired since all of our outlets have 2 prongs instead of 3 which mean they aren't grounded. So basiclly we have to shell out a mad amount of money to make the switch from oil to electric. We can't take a equity loan because our neighbor sold her house for 2 grand more than we paid for ours which destroyed our home value which was already in the trash due to the housing slump. So what do we do?

 

[Chimera 1]

Yeah! Maybe we should complain about it on an internet message board.

It's better people complain over an internet message board that in some other creatively destructive way.

 

[ProgMatinee]

Another Bush whine fest? How about some personal accountability.

If you're having trouble paying your mortgage because of the heating bill then you've probably either got much too big a house for your income or are keeping it at 70 degrees all day.

Also, its not the government's fault (let alone a single person like the Pres) that told losers to take risks by buying big houses on stupid interest only loans. I bought what I could afford at a fixed interest rate and while I'm not rolling in 2000 sq ft, at least I'm able to afford what I do have.

Of course, why should I have done something responsible like being cautious with my finances when I could have been a retard and just blamed Bush for it all?

 

[Anzik]

Is the economy really that bad?
We seem to get more members here everyday, which means more people buying very expensive toys.
I was just in Florida two weeks ago in jam packed theme parks. I drive down the street and see everyone at every bus stop with cell phones.
Apple can't produce enough Iphones and look how in demand xbox 360, PS3 and Wii are.

 

[BadMoon]

I have to agree. I also think the media is partially to blame. I certainly didn't see less people at Disney World this year. That place is not cheap yet almost every hotel room was booked when I went down. I also don't see a shortage of people when I go out to eat, go to the movies, or any other recreational place for that matter. Not to mention some record numbers for video game sales and movies. LOL! Maybe if people stopped blowing their money on stuff they don't need they would be able to afford gas. I am not saying I agree with the price I am just pointing out the spending habits of some American people.

Anzik this is my post from page one.

 

[choopie]

I tend to agree with those here about people needing to take more personal responsibility.

I do hold mortgage companies accountable for convincing folks that they could afford a house when in fact they couldn't. But people obviously didn't do their own homework on their finances and what they could and could not afford. Just because a bank approves you for a $250,000 loan doesn't mean you should take it. And just because a mortgage company tells you that you can get into your dream home with an ARM and just refinance over time, doesn't mean their word is golden. People obviously used the ARM to get into a home for other reasons than an ARM is intended for.

And perhaps if folks weren't saddled with so much credit card debt (which did not just happen yesterday) wanting the latest in cars, clothes and big screen TVs then maybe they can better handle their finances when we are faced with $4 gas and high natural gas and electric bills. Perhaps if Americans actually saved money rather than spent money then people would be better off to ride what we are currently facing.

The fact is people have been living way beyond their means for years, not expecting this situation with the economy, and they got caught with their pants down. I feel sorry for those who are trying to do right and are truly in a bind. The days of cheap food and fuel are over.

But people need to stop blaming others for their own personal choices.

 

[Darth Madden]

It's Bush's fault? It's his fault that SO many people were stupid enough to take ARM loans that they later could not afford just so they could get into a house? Lets not balme it all on the price of gas and groceries. If you're living to the very ends of your means and the price of gas and food pushes you over the edge then perhaps you should live in a smaller home with a smaller mortgage?

Again, I can't stand W, but this is hardly ALL his fault. The people themselves are to blame as well.

Bingo... I agree. So many people were pre-aproved for amounts they couldn't afford and decided to go for the max anyway. We were approved for about $100,000 more than we actually spent on our house because we knew we couldn't afford that much. You can hate Bush all you want but this is NOT his fault.

 

[Anzik]

Anzik this is my post from page one.

Oops. Well I guess we agree Keith.

 

[ProgMatinee]

I just think people in this country need to grow a matching set of personal responsibility and hard work and ditch the sense of entitlement.

 

[Darth Caedus]

I work at the largest mortgage lender in the country. I'm not going to reply to everything, but to a little bit.

About the ARM loans. What people were "told" is that the ARM rate could change, but don't worry, the appreciation in your home will completely cover teh increased rate of the loan. Then when prices of homes started to stall and actually go down, people couldn't cover the change. And people probably didn't read the 100 page ARM loan when they signed it, just listened to what the nicely dressed salesman told them and hoped for the best.

Also it's a problem with the actual companies themselves. WHY offer such a loan? Why offer a loan that can flucuate rates, what is the point? To get as many people to buy their loans as possible, credit score, income validation be damned; so they could charge them fees and sell the mortgage-backed securities (which have no value now, which is why most financial companies have had massive write downs and are in the crapper financially) to fannie mae or other mortgage companies. The company I work for gave out $1 million loans with NO income validation, you could have been a freaking janitor for all they knew.

I don't know, that just a little bit of my $0.02

 

[tylerd]

Another Bush whine fest? How about some personal accountability.

If you're having trouble paying your mortgage because of the heating bill then you've probably either got much too big a house for your income or are keeping it at 70 degrees all day.

Also, its not the government's fault (let alone a single person like the Pres) that told losers to take risks by buying big houses on stupid interest only loans. I bought what I could afford at a fixed interest rate and while I'm not rolling in 2000 sq ft, at least I'm able to afford what I do have.

Of course, why should I have done something responsible like being cautious with my finances when I could have been a retard and just blamed Bush for it all?

how do we personally control the most vital cog in our economic machine, fuel? with gas and oil prices rapidly inflated over a very short time, people are finding themselves overextended. because it just doesn't affect our driving habits, it affects everything we buy. trucks bring every item we purchase to market, and they run on fuel. as far as the housing market goes, bush's administration has their heads so far up iraq's *ss, they are basically ignoring what's going on here in america. like the housing market skyrocketing in the same short time, only to drop like a rock. people lost their butts and their homes when they tried to resell their houses, and suddenly no one was buying. my uncle has this ancient video game from mattel called 'utopia'. it's a two player game and you basically set up an economy, in which the people flourish or die. it's our government that sets up everything and guides what we do in this country. or doesn't in the case of the bush administration. they have let this country go into the crapper because of their greed to profit from rising oil prices. make no mistake. alot like 'w', america is running but there's no one behind the wheel.

 

[tylerd]

I work at the largest mortgage lender in the country. I'm not going to reply to everything, but to a little bit.

About the ARM loans. What people were "told" is that the ARM rate could change, but don't worry, the appreciation in your home will completely cover teh increased rate of the loan. Then when prices of homes started to stall and actually go down, people couldn't cover the change. And people probably didn't read the 100 page ARM loan when they signed it, just listened to what the nicely dressed salesman told them and hoped for the best.

Also it's a problem with the actual companies themselves. WHY offer such a loan? Why offer a loan that can flucuate rates, what is the point? To get as many people to buy their loans as possible, credit score, income validation be damned; so they could charge them fees and sell the mortgage-backed securities (which have no value now, which is why most financial companies have had massive write downs and are in the crapper financially) to fannie mae or other mortgage companies. The company I work for gave out $1 million loans with NO income validation, you could have been a freaking janitor for all they knew.

I don't know, that just a little bit of my $0.02

word to you sir. this explanation is from a professional in the biz gents. read 'em and weep.

 

[ProgMatinee]

it's our government that sets up everything and guides what we do in this country. or doesn't in the case of the bush administration. they have let this country go into the crapper because of their greed to profit from rising oil prices. make no mistake. alot like 'w', america is running but there's no one behind the wheel.

Thats sad if you think that way. IMO the government has very little control in my life. I make my own decisions.

If gas is expensive I buy a small car and live close to work. If items are expensive, I decide what is worth buying. If I don't make enough to buy items I deem worth buying I look for a new job or request a raise.

I don't btch and moan about what the government isn't handing out to me. Since when is it in the constitution that the government owes you cheap goods and services (including gas). I suggest that the problem with America is people who feel "cheap and easy" is what defines us.

 

[Darth Caedus]

The sad part, is that people trusted these mortgage "professionals" and that honorary title they gave themselves sadly isn't fiduciary; which it should be.

 

[DarkArtist81]

Thats sad if you think that way. IMO the government has very little control in my life. I make my own decisions.

If gas is expensive I buy a small car and live close to work. If items are expensive, I decide what is worth buying. If I don't make enough to buy items I deem worth buying I look for a new job or request a raise.

I don't btch and moan about what the government isn't handing out to me. Since when is it in the constitution that the government owes you cheap goods and services (including gas). I suggest that the problem with America is people who feel "cheap and easy" is what defines us.

It's not that easy for all of us. I live in a rural area, the rent is waaaay too expensive in town.. where the jobs are. So I have to live out in the boonies and commute. So I have no choice.

Government shouldn't hand out things to the people, but it should do what is best for it's people... not for a select few. And if the cost of gas is more expensive per gallon than the minimum wage per hour... you have a problem on your hands. If people can't get to work, they lose their jobs. If they lose their jobs, no money goes into the economy and businesses lose productivity due to lack of workers.... it's a vicious cycle that only gets worse over time. It is the responsibility of our legislators to ensure this doesn't happen. Plain and simple. We the people have no way of fixing that.

And the whole "one man can't change things" mentality is a bit off. Historically, there have been many Presidents... world leaders and despots who have done PLENTY... and they were exactly that... one man. They have help, but it comes from their hard work... they inspire people to do bad or good things. FDR was one man. Hitler was one man... Look what they achieved.

It's not all Bush's fault. But he made plenty of bad calls to help get America where it is right now. One man can make a difference... be it good or evil.

 

[Jen]

$4.05 on 14th street this morning.

(went into the city to grab some grub @ Au Bon Pain).

You are lucky you are not in Seattle - try $4.49 for regular.

 

[ProgMatinee]

The sad part, is that people trusted these mortgage "professionals" and that honorary title they gave themselves sadly isn't fiduciary; which it should be.

I agree with that and any liars or frauds need to be punished.

 

[IrishJedi]

a very, very disturbing result of the bush administration.

You do realize that this housing bubble started in 1995, right?

 

[KitFisto]

You are lucky you are not in Seattle - try $4.49 for regular.

Seattle is so liberal I figured everyone there would drive Hybrids or electric cars by now anyway.