I am one of those choking on 8 mortgage payments. It seems you feel that I should just suffer and since I am lazy and or stupid I deserve this..??
You signed a contract.
Us real estate investors are neither,we put our necks out trying to make changes in our lives
Translation: taking risk speculating to get rich quick.
we put down tons of money to purchase a property
If you’re “choking on 8 mortgage payments”, then for all the tons you put down, you apparently leveraged tons and tons more in debt which now that your risky speculation blew up, you want to not pay.
and yes when things were good we didnt sit and stop and think,what if this all goes down the drain fast?How do I pay all this?
So basically, you didn’t really think about what you were doing.
Ive got 3 properties that I owe more than its worth now,and those were actually good investments at the time
Ummm — if they’re upside down, they were not good investments
,NOW?I want to shoot myself everyday.
If only you would
If we can get the banks to drop the loan amount to fair price or renigotiate the terms it is better for all.
No, it is only better for YOU. It is NOT better for the bondholders to not get paid any more than it’s better for you to not get paid rent from your tennant. It is NOT better for anyone looking to buy a house to keep yours off the market and prices artificially inflated due to bailouts.
It is NOT better for the credit based economy to have to raise interest rates in response to bailout risk. It is NOT better for every US taxpayer to have to subsidize your bailouts. It is NOT better for Western Civilization to throw out the rule of law that contracts should be enforced.
We then can afford to keep our properties,not get foreclosed on,which is bad for the area.
I can afford anything I don’t have to pay for too. If I could just be given a huge property to make beautiful for free, that’d be great for the area to bask in its beauty. Hell, give me the entire state for free and I’ll make everything really beautiful and good. If you don’t agree with what I think is beautiful and good, you can be deported.
I may have stretched myself a little thin but I was able to afford it at the time.
No, you weren’t able to afford it at the time. Just like it was never a good investment at the time.
Renters leave due to layoffs,renters dont pay,destroy property,more crimes are commited,etc.
FB’s borrow money they don’t pay back, default, destroy property, commit crimes not the least of which was embezzlement of mortgage funds from banks…. What’s your point?
Maybe instead of calling all of us idiots,think what it really means to put millions into property hoping to build wealth for your family and have all that money become worth nothing!!
Waaaah! You gambled. You lost. I would never call you idiots. I would only call you GREEDY IDIOTS in addition to some other choice words.
You should be villifying the county tax assesors, who raise taxes by doubling each year,the condo associations who double the fees several times a year, and the banks and brokerage houses that took billions of our hard earned money and gave it to their Big wheels, who LOST IT ALL!!
Yes, of course, they’re just like you.
I cant pay my property taxes,so they double it( 1 house is $16,000 a year now!!started at $2,500) and give it to JP Morgan to give a nice $3 million dollar bonus.
Waaaah! Remember earlier that part where you wrote how when things were good you didn’t stop and think?
THATS what the problem is.The banks took billions of dollars from us, like you you and me
No, they lent billions to greedy idiot douchebags just like you and now the government is taking billions from me, the taxpayer and earner/holder of US dollars. Don’t ever put yourself or any other wannabe real estate speculating mouthbreather in the same category as me.
so adjusting mortgages of those who have alot of money at risk is the least they can do!!!
RISK! Finally! You said the word! But just like when you signed all those loan contracts your statement indicates you really don’t understand the meaning of this word.
and that is my rant…cheers
…and you [**note] are a greedy idiot mouthbreather douchebag with a narcissistic delusion of entitlement wholly lacking in any sense of personal accountability.
** I was originally going to put the word “sir” in that spot but then as I wrote that last line, it occurred to me that it’s very likely you are not a male. Remember this line from Jack Nicholson in “As Good as It Gets”?
Woman: How do you write women so well?
Melvin: I think of a man, and I take away reason and accountability.
