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Ex-SD
ParticipantThere are no rules or laws that prevent any house from losing value to less than what it sold for when they were new, several years ago. A home could have sold for $500k new in 2004 but if there are no takers and the house winds up as an REO, the bank will not sit on it forever and will keep dropping the price until it sells. That price could be $200k, $300k or $400k. All that matters is what someone is willing to pay for it and do they have the money (or can they get a loan) to close the sale. This happens with cars, jewelry and any other item of value that is for sale every day of the year.
ParticipantSchumer has always been an idiot and I could never understand how he kept getting elected and eventually ended up in the U.S. Senate. I remember when he was a congressman and attempted to introduce a bill to tax each bullet sold (I believe it was somewhere in the neighborhood of $5 a bullet). The guy is a french fry short of a happy meal so his latest antics do not surprise me.
ParticipantSchumer has always been an idiot and I could never understand how he kept getting elected and eventually ended up in the U.S. Senate. I remember when he was a congressman and attempted to introduce a bill to tax each bullet sold (I believe it was somewhere in the neighborhood of $5 a bullet). The guy is a french fry short of a happy meal so his latest antics do not surprise me.
ParticipantSchumer has always been an idiot and I could never understand how he kept getting elected and eventually ended up in the U.S. Senate. I remember when he was a congressman and attempted to introduce a bill to tax each bullet sold (I believe it was somewhere in the neighborhood of $5 a bullet). The guy is a french fry short of a happy meal so his latest antics do not surprise me.
ParticipantSchumer has always been an idiot and I could never understand how he kept getting elected and eventually ended up in the U.S. Senate. I remember when he was a congressman and attempted to introduce a bill to tax each bullet sold (I believe it was somewhere in the neighborhood of $5 a bullet). The guy is a french fry short of a happy meal so his latest antics do not surprise me.
ParticipantSchumer has always been an idiot and I could never understand how he kept getting elected and eventually ended up in the U.S. Senate. I remember when he was a congressman and attempted to introduce a bill to tax each bullet sold (I believe it was somewhere in the neighborhood of $5 a bullet). The guy is a french fry short of a happy meal so his latest antics do not surprise me.
ParticipantRight or Wrong……………………I believe that the overwhelming majority of these “poor, wronged homeowners” won’t pay for those homes if the mortgage holders left their payments where they were before they reset because the homes are now worth less. Most of them bought because they thought they were going to get rich from appreciation that would never end plus the added benefit of having a built in ATM to fund their compulsive spending. It was sheer lunacy to give many of these people a loan because they had credit histories that were fair to poor. If the federal or state governments keep pushing to develop new, creative loan programs, it’s only going to keep this mess going forever . If they just leave it alone and let it correct itself, eventually, there will be some stability with prices in the bubble markets. The county where I now live in South Carolina has the lowest foreclosure rate in the entire USA. We have a very good, growing economy and we did not have the crazy run-up in prices like the bubble markets and the median price is $170k. People selling their homes do not receive multiple offers over the listing price from frantic people bidding on their homes. There are many other places in the country just like this and if the politicians will stop playing to the press and the voters and keep their nose out of this, it WILL eventually correct itself on it’s own.
ParticipantRight or Wrong……………………I believe that the overwhelming majority of these “poor, wronged homeowners” won’t pay for those homes if the mortgage holders left their payments where they were before they reset because the homes are now worth less. Most of them bought because they thought they were going to get rich from appreciation that would never end plus the added benefit of having a built in ATM to fund their compulsive spending. It was sheer lunacy to give many of these people a loan because they had credit histories that were fair to poor. If the federal or state governments keep pushing to develop new, creative loan programs, it’s only going to keep this mess going forever . If they just leave it alone and let it correct itself, eventually, there will be some stability with prices in the bubble markets. The county where I now live in South Carolina has the lowest foreclosure rate in the entire USA. We have a very good, growing economy and we did not have the crazy run-up in prices like the bubble markets and the median price is $170k. People selling their homes do not receive multiple offers over the listing price from frantic people bidding on their homes. There are many other places in the country just like this and if the politicians will stop playing to the press and the voters and keep their nose out of this, it WILL eventually correct itself on it’s own.
ParticipantRight or Wrong……………………I believe that the overwhelming majority of these “poor, wronged homeowners” won’t pay for those homes if the mortgage holders left their payments where they were before they reset because the homes are now worth less. Most of them bought because they thought they were going to get rich from appreciation that would never end plus the added benefit of having a built in ATM to fund their compulsive spending. It was sheer lunacy to give many of these people a loan because they had credit histories that were fair to poor. If the federal or state governments keep pushing to develop new, creative loan programs, it’s only going to keep this mess going forever . If they just leave it alone and let it correct itself, eventually, there will be some stability with prices in the bubble markets. The county where I now live in South Carolina has the lowest foreclosure rate in the entire USA. We have a very good, growing economy and we did not have the crazy run-up in prices like the bubble markets and the median price is $170k. People selling their homes do not receive multiple offers over the listing price from frantic people bidding on their homes. There are many other places in the country just like this and if the politicians will stop playing to the press and the voters and keep their nose out of this, it WILL eventually correct itself on it’s own.
ParticipantRight or Wrong……………………I believe that the overwhelming majority of these “poor, wronged homeowners” won’t pay for those homes if the mortgage holders left their payments where they were before they reset because the homes are now worth less. Most of them bought because they thought they were going to get rich from appreciation that would never end plus the added benefit of having a built in ATM to fund their compulsive spending. It was sheer lunacy to give many of these people a loan because they had credit histories that were fair to poor. If the federal or state governments keep pushing to develop new, creative loan programs, it’s only going to keep this mess going forever . If they just leave it alone and let it correct itself, eventually, there will be some stability with prices in the bubble markets. The county where I now live in South Carolina has the lowest foreclosure rate in the entire USA. We have a very good, growing economy and we did not have the crazy run-up in prices like the bubble markets and the median price is $170k. People selling their homes do not receive multiple offers over the listing price from frantic people bidding on their homes. There are many other places in the country just like this and if the politicians will stop playing to the press and the voters and keep their nose out of this, it WILL eventually correct itself on it’s own.
ParticipantRight or Wrong……………………I believe that the overwhelming majority of these “poor, wronged homeowners” won’t pay for those homes if the mortgage holders left their payments where they were before they reset because the homes are now worth less. Most of them bought because they thought they were going to get rich from appreciation that would never end plus the added benefit of having a built in ATM to fund their compulsive spending. It was sheer lunacy to give many of these people a loan because they had credit histories that were fair to poor. If the federal or state governments keep pushing to develop new, creative loan programs, it’s only going to keep this mess going forever . If they just leave it alone and let it correct itself, eventually, there will be some stability with prices in the bubble markets. The county where I now live in South Carolina has the lowest foreclosure rate in the entire USA. We have a very good, growing economy and we did not have the crazy run-up in prices like the bubble markets and the median price is $170k. People selling their homes do not receive multiple offers over the listing price from frantic people bidding on their homes. There are many other places in the country just like this and if the politicians will stop playing to the press and the voters and keep their nose out of this, it WILL eventually correct itself on it’s own.
ParticipantAlex…………….Alex……………..Alex………………..
Yada, yada, yada…………………Yawn……………..ParticipantAlex…………….Alex……………..Alex………………..
Yada, yada, yada…………………Yawn……………..ParticipantAlex…………….Alex……………..Alex………………..
Yada, yada, yada…………………Yawn…………….. -
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