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Viewing 15 posts - 91 through 105 (of 126 total)
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  • January 22, 2009 at 9:02 AM #333615
    ariffe22
    Participant

    Sorry about your friend/co-worker’s situation, but really? Making 70K and financing 400K at 100%LTV. He should be so lucky to be able to walk away and not have to have to file for Bankruptcy too. I’d guess he’s got at Flat Screen TV, Furniture, and other assets that he’ll be fortunate to move into a modest rental. This just makes me sick……Bailout?……Bailout? It reminds me of Jim Mora talking about Playoffs? you know Playoffs?

    January 22, 2009 at 9:35 AM #333129
    jimmyle
    Participant

    Hey, it’s either bailout or foreclosure. I think it is cheaper for the bank and our economy to bail him out.

    January 22, 2009 at 9:35 AM #333465
    jimmyle
    Participant

    Hey, it’s either bailout or foreclosure. I think it is cheaper for the bank and our economy to bail him out.

    January 22, 2009 at 9:35 AM #333547
    jimmyle
    Participant

    Hey, it’s either bailout or foreclosure. I think it is cheaper for the bank and our economy to bail him out.

    January 22, 2009 at 9:35 AM #333575
    jimmyle
    Participant

    Hey, it’s either bailout or foreclosure. I think it is cheaper for the bank and our economy to bail him out.

    January 22, 2009 at 9:35 AM #333659
    jimmyle
    Participant

    Hey, it’s either bailout or foreclosure. I think it is cheaper for the bank and our economy to bail him out.

    January 22, 2009 at 10:12 AM #333188
    PadreBrian
    Participant

    [quote=jimmyle]My friend is calling HUD counselors tommorow. Hope they can help. Does he need to exaggerate his expenses to get help?

    Even without any exaggeration, he has 0% saving rate right now. If you include his wife school loans, they have negative saving rate.[/quote]

    No, he just needs to tell the truth. He will have to document his income and if his mortgage is over a certain % of his gross income then they can help.

    January 22, 2009 at 10:12 AM #333524
    PadreBrian
    Participant

    [quote=jimmyle]My friend is calling HUD counselors tommorow. Hope they can help. Does he need to exaggerate his expenses to get help?

    Even without any exaggeration, he has 0% saving rate right now. If you include his wife school loans, they have negative saving rate.[/quote]

    No, he just needs to tell the truth. He will have to document his income and if his mortgage is over a certain % of his gross income then they can help.

    January 22, 2009 at 10:12 AM #333607
    PadreBrian
    Participant

    [quote=jimmyle]My friend is calling HUD counselors tommorow. Hope they can help. Does he need to exaggerate his expenses to get help?

    Even without any exaggeration, he has 0% saving rate right now. If you include his wife school loans, they have negative saving rate.[/quote]

    No, he just needs to tell the truth. He will have to document his income and if his mortgage is over a certain % of his gross income then they can help.

    January 22, 2009 at 10:12 AM #333635
    PadreBrian
    Participant

    [quote=jimmyle]My friend is calling HUD counselors tommorow. Hope they can help. Does he need to exaggerate his expenses to get help?

    Even without any exaggeration, he has 0% saving rate right now. If you include his wife school loans, they have negative saving rate.[/quote]

    No, he just needs to tell the truth. He will have to document his income and if his mortgage is over a certain % of his gross income then they can help.

    January 22, 2009 at 10:12 AM #333720
    PadreBrian
    Participant

    [quote=jimmyle]My friend is calling HUD counselors tommorow. Hope they can help. Does he need to exaggerate his expenses to get help?

    Even without any exaggeration, he has 0% saving rate right now. If you include his wife school loans, they have negative saving rate.[/quote]

    No, he just needs to tell the truth. He will have to document his income and if his mortgage is over a certain % of his gross income then they can help.

    January 22, 2009 at 10:12 AM #333183
    PadreBrian
    Participant

    see below

    January 22, 2009 at 10:12 AM #333519
    PadreBrian
    Participant

    see below

    January 22, 2009 at 10:12 AM #333602
    PadreBrian
    Participant

    see below

    January 22, 2009 at 10:12 AM #333630
    PadreBrian
    Participant

    see below

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