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February 10, 2010 at 12:28 AM in reply to: OT: Getting sick of all the bank robberies in carmel valley #512483
patb
Participant[quote=needhelpinoside]Thank you to for the advice. I don’t have any equity in the (the loan amount is 535,000 but according to zillow.com my house is worth 515,000) so I know my options are short sale or foreclosure. I have come to terms with that I was just trying to see if anyone knew of someone who has experience with the pre-foreclosure process. Someone that will be able to help my family through the process. A loss mitigation specialist is apparently someone who will negotiate with the lender to lower the rate on the loan or work out some kind of payment plan. It’s basically someone getting paid to do something we can do on our own. And yes, I have already tried with my lender and they offered the forbearance but my payments are already so high that we would never be able to catch up. I live with my sister and we take care of our parents. She also has 3 kids. We bought our home in 2004 but in 2005 my dad was hospitalized for 4 months and due to missed work we made the mistake of using credit cards to pay some bills. In 2006 our 2 year fixed rate adjusted and it went from 5% to 8% and our credit score was in the 600s by then & we’ve been struggling ever since. This is definitely not a scam to play on anyone’s sympathies during this time. I started the process of looking for help early last week. I am already in credit counseling to work on my credit card/loans and am looking for someone who can help me with this part. I know I am going to lose the house – I just wanted to find someone who can offer some guidance. It sounds like a real estate lawyer is my best option.[/quote]
I’m going to say,
1) You need a real estate attorney
2) look your credit is hosed
3) You can’t afford your mortgage.
honestly,
you should look at stopping payments, filing bankruptcy, and buying time. save your money
for a rental and get enough cash that you can move on short notice.lots of people are in too deep, you are just another bad story.
screw the banks, keep cash, move on with your lives.
PS: Consider selling one of the kids for parts. Lots of cash in a healthy kid and it will keep the others in line 🙂
Participant[quote=needhelpinoside]Thank you to for the advice. I don’t have any equity in the (the loan amount is 535,000 but according to zillow.com my house is worth 515,000) so I know my options are short sale or foreclosure. I have come to terms with that I was just trying to see if anyone knew of someone who has experience with the pre-foreclosure process. Someone that will be able to help my family through the process. A loss mitigation specialist is apparently someone who will negotiate with the lender to lower the rate on the loan or work out some kind of payment plan. It’s basically someone getting paid to do something we can do on our own. And yes, I have already tried with my lender and they offered the forbearance but my payments are already so high that we would never be able to catch up. I live with my sister and we take care of our parents. She also has 3 kids. We bought our home in 2004 but in 2005 my dad was hospitalized for 4 months and due to missed work we made the mistake of using credit cards to pay some bills. In 2006 our 2 year fixed rate adjusted and it went from 5% to 8% and our credit score was in the 600s by then & we’ve been struggling ever since. This is definitely not a scam to play on anyone’s sympathies during this time. I started the process of looking for help early last week. I am already in credit counseling to work on my credit card/loans and am looking for someone who can help me with this part. I know I am going to lose the house – I just wanted to find someone who can offer some guidance. It sounds like a real estate lawyer is my best option.[/quote]
I’m going to say,
1) You need a real estate attorney
2) look your credit is hosed
3) You can’t afford your mortgage.
honestly,
you should look at stopping payments, filing bankruptcy, and buying time. save your money
for a rental and get enough cash that you can move on short notice.lots of people are in too deep, you are just another bad story.
screw the banks, keep cash, move on with your lives.
PS: Consider selling one of the kids for parts. Lots of cash in a healthy kid and it will keep the others in line 🙂
Participant[quote=needhelpinoside]Thank you to for the advice. I don’t have any equity in the (the loan amount is 535,000 but according to zillow.com my house is worth 515,000) so I know my options are short sale or foreclosure. I have come to terms with that I was just trying to see if anyone knew of someone who has experience with the pre-foreclosure process. Someone that will be able to help my family through the process. A loss mitigation specialist is apparently someone who will negotiate with the lender to lower the rate on the loan or work out some kind of payment plan. It’s basically someone getting paid to do something we can do on our own. And yes, I have already tried with my lender and they offered the forbearance but my payments are already so high that we would never be able to catch up. I live with my sister and we take care of our parents. She also has 3 kids. We bought our home in 2004 but in 2005 my dad was hospitalized for 4 months and due to missed work we made the mistake of using credit cards to pay some bills. In 2006 our 2 year fixed rate adjusted and it went from 5% to 8% and our credit score was in the 600s by then & we’ve been struggling ever since. This is definitely not a scam to play on anyone’s sympathies during this time. I started the process of looking for help early last week. I am already in credit counseling to work on my credit card/loans and am looking for someone who can help me with this part. I know I am going to lose the house – I just wanted to find someone who can offer some guidance. It sounds like a real estate lawyer is my best option.[/quote]
I’m going to say,
1) You need a real estate attorney
2) look your credit is hosed
3) You can’t afford your mortgage.
honestly,
you should look at stopping payments, filing bankruptcy, and buying time. save your money
for a rental and get enough cash that you can move on short notice.lots of people are in too deep, you are just another bad story.
screw the banks, keep cash, move on with your lives.
PS: Consider selling one of the kids for parts. Lots of cash in a healthy kid and it will keep the others in line 🙂
Participant[quote=needhelpinoside]Thank you to for the advice. I don’t have any equity in the (the loan amount is 535,000 but according to zillow.com my house is worth 515,000) so I know my options are short sale or foreclosure. I have come to terms with that I was just trying to see if anyone knew of someone who has experience with the pre-foreclosure process. Someone that will be able to help my family through the process. A loss mitigation specialist is apparently someone who will negotiate with the lender to lower the rate on the loan or work out some kind of payment plan. It’s basically someone getting paid to do something we can do on our own. And yes, I have already tried with my lender and they offered the forbearance but my payments are already so high that we would never be able to catch up. I live with my sister and we take care of our parents. She also has 3 kids. We bought our home in 2004 but in 2005 my dad was hospitalized for 4 months and due to missed work we made the mistake of using credit cards to pay some bills. In 2006 our 2 year fixed rate adjusted and it went from 5% to 8% and our credit score was in the 600s by then & we’ve been struggling ever since. This is definitely not a scam to play on anyone’s sympathies during this time. I started the process of looking for help early last week. I am already in credit counseling to work on my credit card/loans and am looking for someone who can help me with this part. I know I am going to lose the house – I just wanted to find someone who can offer some guidance. It sounds like a real estate lawyer is my best option.[/quote]
I’m going to say,
1) You need a real estate attorney
2) look your credit is hosed
3) You can’t afford your mortgage.
honestly,
you should look at stopping payments, filing bankruptcy, and buying time. save your money
for a rental and get enough cash that you can move on short notice.lots of people are in too deep, you are just another bad story.
screw the banks, keep cash, move on with your lives.
PS: Consider selling one of the kids for parts. Lots of cash in a healthy kid and it will keep the others in line 🙂
Participant[quote=needhelpinoside]Thank you to for the advice. I don’t have any equity in the (the loan amount is 535,000 but according to zillow.com my house is worth 515,000) so I know my options are short sale or foreclosure. I have come to terms with that I was just trying to see if anyone knew of someone who has experience with the pre-foreclosure process. Someone that will be able to help my family through the process. A loss mitigation specialist is apparently someone who will negotiate with the lender to lower the rate on the loan or work out some kind of payment plan. It’s basically someone getting paid to do something we can do on our own. And yes, I have already tried with my lender and they offered the forbearance but my payments are already so high that we would never be able to catch up. I live with my sister and we take care of our parents. She also has 3 kids. We bought our home in 2004 but in 2005 my dad was hospitalized for 4 months and due to missed work we made the mistake of using credit cards to pay some bills. In 2006 our 2 year fixed rate adjusted and it went from 5% to 8% and our credit score was in the 600s by then & we’ve been struggling ever since. This is definitely not a scam to play on anyone’s sympathies during this time. I started the process of looking for help early last week. I am already in credit counseling to work on my credit card/loans and am looking for someone who can help me with this part. I know I am going to lose the house – I just wanted to find someone who can offer some guidance. It sounds like a real estate lawyer is my best option.[/quote]
I’m going to say,
1) You need a real estate attorney
2) look your credit is hosed
3) You can’t afford your mortgage.
honestly,
you should look at stopping payments, filing bankruptcy, and buying time. save your money
for a rental and get enough cash that you can move on short notice.lots of people are in too deep, you are just another bad story.
screw the banks, keep cash, move on with your lives.
PS: Consider selling one of the kids for parts. Lots of cash in a healthy kid and it will keep the others in line 🙂
Participant[quote=mlarsen23]Contrary to what Arraya and many in the uninformed news media want the American public to believe, there is no risk of a bailout for Social Security any time soon. It is true that it is now paying out more money in benefits than it takes in from taxes, but this means zero, nada, nothing in terms of the finances of the program.
Under the law that governs Social Security’s operations, it can pay full benefits as long as it maintains a minimum balance in its trust fund. At present, it has more than $2 trillion in the trust fund, far more than the minimum balance. In fact, because SS collects interest on the bonds in the trust fund it actually is projected to continue to run surpluses even through the current economic crisis.
The fund is projected face a shortfall after 2037. While there will probably have to be some adjustments made to the program at some point, this has been true in prior decades as well. It is striking how much attention the media devote to comparatively minor problem. The country is suffering the worst downturn in 70 years because the geniuses who run the Fed and Treasury could not see an $8 trillion housing bubble and let the Wall Street crew run wild with fraudulent loans and complex derivative instruments. It is those same Wall Street geniuses who would stand to benefit from the privatization of Social Security, and they are generally the folks behind the frequent meme that there is a big problem with Social Security.
An interesting thing for the media to focus on might be why the our neighbor to the north has done so comparatively well during the economic crisis despite its highly regulated financial sector and much stronger social safety net.[/quote]
you can fix SSA OASDI easily.
raise the max benefits age 2 years,
adjust CPI escalator by 1% less
and raise the cutoff income for FICA to 1,000,000Participant[quote=mlarsen23]Contrary to what Arraya and many in the uninformed news media want the American public to believe, there is no risk of a bailout for Social Security any time soon. It is true that it is now paying out more money in benefits than it takes in from taxes, but this means zero, nada, nothing in terms of the finances of the program.
Under the law that governs Social Security’s operations, it can pay full benefits as long as it maintains a minimum balance in its trust fund. At present, it has more than $2 trillion in the trust fund, far more than the minimum balance. In fact, because SS collects interest on the bonds in the trust fund it actually is projected to continue to run surpluses even through the current economic crisis.
The fund is projected face a shortfall after 2037. While there will probably have to be some adjustments made to the program at some point, this has been true in prior decades as well. It is striking how much attention the media devote to comparatively minor problem. The country is suffering the worst downturn in 70 years because the geniuses who run the Fed and Treasury could not see an $8 trillion housing bubble and let the Wall Street crew run wild with fraudulent loans and complex derivative instruments. It is those same Wall Street geniuses who would stand to benefit from the privatization of Social Security, and they are generally the folks behind the frequent meme that there is a big problem with Social Security.
An interesting thing for the media to focus on might be why the our neighbor to the north has done so comparatively well during the economic crisis despite its highly regulated financial sector and much stronger social safety net.[/quote]
you can fix SSA OASDI easily.
raise the max benefits age 2 years,
adjust CPI escalator by 1% less
and raise the cutoff income for FICA to 1,000,000Participant[quote=mlarsen23]Contrary to what Arraya and many in the uninformed news media want the American public to believe, there is no risk of a bailout for Social Security any time soon. It is true that it is now paying out more money in benefits than it takes in from taxes, but this means zero, nada, nothing in terms of the finances of the program.
Under the law that governs Social Security’s operations, it can pay full benefits as long as it maintains a minimum balance in its trust fund. At present, it has more than $2 trillion in the trust fund, far more than the minimum balance. In fact, because SS collects interest on the bonds in the trust fund it actually is projected to continue to run surpluses even through the current economic crisis.
The fund is projected face a shortfall after 2037. While there will probably have to be some adjustments made to the program at some point, this has been true in prior decades as well. It is striking how much attention the media devote to comparatively minor problem. The country is suffering the worst downturn in 70 years because the geniuses who run the Fed and Treasury could not see an $8 trillion housing bubble and let the Wall Street crew run wild with fraudulent loans and complex derivative instruments. It is those same Wall Street geniuses who would stand to benefit from the privatization of Social Security, and they are generally the folks behind the frequent meme that there is a big problem with Social Security.
An interesting thing for the media to focus on might be why the our neighbor to the north has done so comparatively well during the economic crisis despite its highly regulated financial sector and much stronger social safety net.[/quote]
you can fix SSA OASDI easily.
raise the max benefits age 2 years,
adjust CPI escalator by 1% less
and raise the cutoff income for FICA to 1,000,000Participant[quote=mlarsen23]Contrary to what Arraya and many in the uninformed news media want the American public to believe, there is no risk of a bailout for Social Security any time soon. It is true that it is now paying out more money in benefits than it takes in from taxes, but this means zero, nada, nothing in terms of the finances of the program.
Under the law that governs Social Security’s operations, it can pay full benefits as long as it maintains a minimum balance in its trust fund. At present, it has more than $2 trillion in the trust fund, far more than the minimum balance. In fact, because SS collects interest on the bonds in the trust fund it actually is projected to continue to run surpluses even through the current economic crisis.
The fund is projected face a shortfall after 2037. While there will probably have to be some adjustments made to the program at some point, this has been true in prior decades as well. It is striking how much attention the media devote to comparatively minor problem. The country is suffering the worst downturn in 70 years because the geniuses who run the Fed and Treasury could not see an $8 trillion housing bubble and let the Wall Street crew run wild with fraudulent loans and complex derivative instruments. It is those same Wall Street geniuses who would stand to benefit from the privatization of Social Security, and they are generally the folks behind the frequent meme that there is a big problem with Social Security.
An interesting thing for the media to focus on might be why the our neighbor to the north has done so comparatively well during the economic crisis despite its highly regulated financial sector and much stronger social safety net.[/quote]
you can fix SSA OASDI easily.
raise the max benefits age 2 years,
adjust CPI escalator by 1% less
and raise the cutoff income for FICA to 1,000,000Participant[quote=mlarsen23]Contrary to what Arraya and many in the uninformed news media want the American public to believe, there is no risk of a bailout for Social Security any time soon. It is true that it is now paying out more money in benefits than it takes in from taxes, but this means zero, nada, nothing in terms of the finances of the program.
Under the law that governs Social Security’s operations, it can pay full benefits as long as it maintains a minimum balance in its trust fund. At present, it has more than $2 trillion in the trust fund, far more than the minimum balance. In fact, because SS collects interest on the bonds in the trust fund it actually is projected to continue to run surpluses even through the current economic crisis.
The fund is projected face a shortfall after 2037. While there will probably have to be some adjustments made to the program at some point, this has been true in prior decades as well. It is striking how much attention the media devote to comparatively minor problem. The country is suffering the worst downturn in 70 years because the geniuses who run the Fed and Treasury could not see an $8 trillion housing bubble and let the Wall Street crew run wild with fraudulent loans and complex derivative instruments. It is those same Wall Street geniuses who would stand to benefit from the privatization of Social Security, and they are generally the folks behind the frequent meme that there is a big problem with Social Security.
An interesting thing for the media to focus on might be why the our neighbor to the north has done so comparatively well during the economic crisis despite its highly regulated financial sector and much stronger social safety net.[/quote]
you can fix SSA OASDI easily.
raise the max benefits age 2 years,
adjust CPI escalator by 1% less
and raise the cutoff income for FICA to 1,000,000Participant[quote=Arraya]We were socialist back in the 40s and 50s.[/quote]
Life was good
Participant[quote=Arraya]We were socialist back in the 40s and 50s.[/quote]
Life was good
Participant[quote=Arraya]We were socialist back in the 40s and 50s.[/quote]
Life was good
Participant[quote=Arraya]We were socialist back in the 40s and 50s.[/quote]
Life was good
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