cavanami Posted February 22, 2009 Author Report Share Posted February 22, 2009 http://www.infowars.com/white-house-press-secretary-gibbs-is-a-national-disgrace/ This is a great commentary on the "home owner bailout"...asking questions, like why the people that committed fraud is falsifying home appraisals, approving loans for people that could not pay the loan off, etc. Looks like Prez. O is just part of Wall Street and firmly with the bankers, leaving the taxpayer to pay for all this fraud!!! Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted February 22, 2009 Report Share Posted February 22, 2009 I don't even own a home yet and I'll end up paying for other peoples mortgages. Fuck the bailouts and Obama! Buy a house and go get your bailout. It is that simple. Shall I dye my skin black and vote for affirmative action as well? Not really necessary. Just show up demanding your bailout is all that is required. Telling them you need more Thai pussy should also help out. Link to comment Share on other sites More sharing options...
bgtp Posted February 24, 2009 Report Share Posted February 24, 2009 Well, I keep getting told that even though I've been responsible, I should support the bailout otherwise my home's value will fall, too. I actually feel the value of most homes, including mine, need to drop more in order to get more in line with the historical ratio of home prices to people's incomes if we are to ever start moving forward again. So, what happens if my home's value goes down say another 20%? Does it become any less liveable? Will one of my bathrooms magically disappear or am I not allowed to use one of the bedrooms until my house's value goes up again? Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted February 24, 2009 Report Share Posted February 24, 2009 Well, I keep getting told that even though I've been responsible, I should support the bailout otherwise my home's value will fall, too. I actually feel the value of most homes, including mine, need to drop more in order to get more in line with the historical ratio of home prices to people's incomes if we are to ever start moving forward again. So, what happens if my home's value goes down say another 20%? Does it become any less liveable? Will one of my bathrooms magically disappear or am I not allowed to use one of the bedrooms until my house's value goes up again? If houses drop another 20% like you mentioned, you might find more people just walking away from their homes. For example, the person who bought a $500,000 a few years ago, might find their home is now worth only $200,000. So what do they do, in some cases they just leave. Some people that abandon their homes dump cement down their toilets or do other acts of naughtiness. These acts of self inflicted vandalism might make the house very difficult to sell. In some areas, if the house has not been lived in for 6 months or more, the house might have to be brought up to code. These problems make selling the house even more difficult if not impossible. So if you live next door to one of these homes, what do you think the value of your home becomes? Link to comment Share on other sites More sharing options...
Weird Posted February 24, 2009 Report Share Posted February 24, 2009 If houses drop another 20% like you mentioned, you might find more people just walking away from their homes. For example, the person who bought a $500,000 a few years ago, might find their home is now worth only $200,000. So what do they do, in some cases they just leave. Some people that abandon their homes dump cement down their toilets or do other acts of naughtiness. These acts of self inflicted vandalism might make the house very difficult to sell. In some areas, if the house has not been lived in for 6 months or more, the house might have to be brought up to code. These problems make selling the house even more difficult if not impossible. So if you live next door to one of these homes, what do you think the value of your home becomes? You completely missed the point where he's trying to live in the house, not sell it. Link to comment Share on other sites More sharing options...
TheCorinthian Posted February 24, 2009 Report Share Posted February 24, 2009 It is unfair. I am fairly wealthy and live in a nice neighbor hood. I have a neighbor that bought a house and now looks like he may loose it. The other night over brandy he told me and a few other neighbors he had heard that he may get assistance from the fed with the new stimulus crap. We enjoyed drinks then his wife called and he went home. Once he left, my other neighbors hit the ceiling. We know his job and there is no way in hell he could have afforded that house even when he moved in! He is a nice guy and makes good money, but not that good. Now that it is clear he is in trouble, I am pissed! Why the hell should our tax money be spent to keep this guy in a house he could not have afforded in the first place? Can I take a huge loan out and get all of you to help me pay for it? Link to comment Share on other sites More sharing options...
ThaiHome Posted February 24, 2009 Report Share Posted February 24, 2009 I don't recall seeing anything in this plan that pays down the principal on any loan. If Iâ??m not correct in this, I hope someone can point out a source Otherwise, in these times, I donâ??t have a real problem with government stepping to help people restructure the loans into something they can make the payments on. What is the alternative? Throw them out and foreclose? Then who wins? I think nobody, the person is out of their house and the bank is left with something it probably canâ??t sell and is certainly not making them any money. I donâ??t like it and it is certainly going to help some people that either made serious mistakes or committed fraud, but what else is there to do? TH Link to comment Share on other sites More sharing options...
cavanami Posted February 24, 2009 Author Report Share Posted February 24, 2009 The whole bailout is bullshit! Why bailout someone, who cannot afford the payments, only to have they fail again??? WTF, if they can't pay now, how can they pay five years from now??? Prez. O...hello, wake up call...and you went to Havard??? did you study basket weaving??? Link to comment Share on other sites More sharing options...
itsmedave Posted February 24, 2009 Report Share Posted February 24, 2009 Can I say something about the "I don't want to pay to bailout..." argument. WTF? Do any of us know what exactly happens to the money we pay out in taxes? Is somebody from the government going to knock on my door next week demanding extra money from me to support the "irresponsible" homeowners? Because it seems to me that none of our taxes are going to change as a result of this so it's just a matter of where the gov't is choosing to spend the money. So, as a practical matter, this policy doesn't affect us at all. Certainly it could be argued that sometime in the future taxes will be raised because of the expenditures...but to act as if right now this stimulus will be a hardship on anybody is ridiculous. It's not costing anybody a cent more than what they are already paying. And, as to the long term cost...you must balance that against having millions more thrown into the streets, thus unable to buy things, thus causing more unemployment from companies who can't sekll enough stuff, leading to more homelessness, leading to...(and the snowball gwors and grows) Seeing as how my money is now being used in an unnecessary war we were lied into causing death and misery worldwide...I would be MUCH happier having my money used to bailout people back home and keep our economy moving. Link to comment Share on other sites More sharing options...
cavanami Posted February 24, 2009 Author Report Share Posted February 24, 2009 What is needed, IMO, is an entire budget overhaul and getting the troops back to the USA where we need them! Yes, the $$$ spent in Iraq and Afgan MUST be spent in the USA to help US citizens (not illegals). Use the troops to secure borders. Kick out the illegals. Stop ALL benefits to illegals. If an illegal gives birth to a child, NO automatic citizenship, etc... Link to comment Share on other sites More sharing options...
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