OT Financials, my god this is starting to scare me

[632 Regal]

this is serious no doubt, I read the first blank check plan whereas there will be no investigation into the plan, no one can be subpoenaed, no one can be looked into, no one or entity can ever be called to court, blank check for the team that walks out in a little over a month... spooky man!... this is the revised plan or statement of saturday at 10ish ET USA

let the bankers fail as with a passage of a bill like this over 30% of americans will default and the debt will go from 700BL to well ofer 2 Trillion!... My god!

praise the bankers. Oh and Jon K for blaming the poor sucker that bought a house for his family,

http://www.cnn.com/video/#/video/pol...my.presser.cnn

[632 Regal]

I am just trying to enlighten the severity of what is happening to us as our elected officials are undermining this country within 40 days of their abandonment. Why right now? why not 12 months ago or 24 months ago as this all transpired? Watch the video... inbelievable that the media is banned from showing anything except what comes only from the closed doors on capital hill. My grandparents are rotating in their graves with sheets of newspapers and crumpled tin foil...

[RockJock]

When the dust settles there will be endless smokin' good real-estate deals; you'll be able to pick up **** for peanuts. Got gold?

[RockJock]

Get ready for the NAU and the Amero.

[Jon K]

"... lax lending practices earlier this decade lead to irresponsible lending, and irresponsible borrowing. This simply put too many families into mortgages they could not afford."

NO. This is the common interpretation of what happened. Lax lending did not put families into mortgages they could not afford - absolutely WRONG. Individuals took responsibility for mortgages that they could not afford. I am so freaking tired of hearing the words "put" and "subjected to" and "lead" and "resulted in" - NO. No one makes a person sign a loan at 2% interest with no down payment and possible varying interest rates up to 20% - if you sign up for that, you are a fool. As a young person who has done all in my ability to NOT make mistakes, its drives me over the edge to hear the typical "he was stuck with a bad mortgage." Its sickening - I am so tired of the citizens of our country expecting the government to wipe their ass if they **** their pants while messing up. What ever happened to "buyer beware"? Ok - so if the guy couldn't afford a fixed interest mortgage, then what's he supposed to do? It's easy - buy a cheaper house.

I have followed these foreclosed houses lately - we're not talking about 800 sq ft bungalows in Newark, NJ. We are talking people like me or my friends, buying 2800 - 4,000 sq ft single homes with no or minimum down payment and a varying interest rate. Surprise! The rate changes, your payment goes up dramatically and all of a sudden you can't afford the house - I am sorry, but I've always been raised that if you can't afford something you don't buy it. I know a lot of familiar are in bad situations, but who is to blame? Agents made offers that were too good to be true - its not difficult, my younger sister knew the risk in the varying interest rates... its not even hard to process. My step-brother had one of these mortgages, and factored in the "worst case scenario" for his payments - he is fine. He re-fi'd as soon as he could but he got played on the whole variable rate as well. The problem is people are trying to buy **** they cannot afford that, and I don't think its the governments responsibility to instruct people what the effing price tag is.

[632 Regal]

"clueless"

"... lax lending practices earlier this decade lead to irresponsible lending, and irresponsible borrowing. This simply put too many families into mortgages they could not afford."

NO. This is the common interpretation of what happened. Lax lending did not put families into mortgages they could not afford - absolutely WRONG. Individuals took responsibility for mortgages that they could not afford. I am so freaking tired of hearing the words "put" and "subjected to" and "lead" and "resulted in" - NO. No one makes a person sign a loan at 2% interest with no down payment and possible varying interest rates up to 20% - if you sign up for that, you are a fool. As a young person who has done all in my ability to NOT make mistakes, its drives me over the edge to hear the typical "he was stuck with a bad mortgage." Its sickening - I am so tired of the citizens of our country expecting the government to wipe their ass if they **** their pants while messing up. What ever happened to "buyer beware"? Ok - so if the guy couldn't afford a fixed interest mortgage, then what's he supposed to do? It's easy - buy a cheaper house.

I have followed these foreclosed houses lately - we're not talking about 800 sq ft bungalows in Newark, NJ. We are talking people like me or my friends, buying 2800 - 4,000 sq ft single homes with no or minimum down payment and a varying interest rate. Surprise! The rate changes, your payment goes up dramatically and all of a sudden you can't afford the house - I am sorry, but I've always been raised that if you can't afford something you don't buy it. I know a lot of familiar are in bad situations, but who is to blame? Agents made offers that were too good to be true - its not difficult, my younger sister knew the risk in the varying interest rates... its not even hard to process. My step-brother had one of these mortgages, and factored in the "worst case scenario" for his payments - he is fine. He re-fi'd as soon as he could but he got played on the whole variable rate as well. The problem is people are trying to buy **** they cannot afford that, and I don't think its the governments responsibility to instruct people what the effing price tag is.

[Jon K]

"clueless"

Yep - clueless at 23 doing well for myself making more than people 2 times my age and distinguishing between mistakes and good decisions - you know me well Jeff. Saving up to buy my house - ya know, I could have entered a "low variable interest" mortgage too Then I'd be like those fools crying about foreclosure. If you can't afford it, you don't buy it. PERIOD.

[632 Regal]

not only clueless, IDIOT is more what I meant.

Yep - clueless at 23 doing well for myself making more than people 2 times my age and distinguishing between mistakes and good decisions - you know me well Jeff. Saving up to buy my house - ya know, I could have entered a "low variable interest" mortgage too Then I'd be like those fools crying about foreclosure. If you can't afford it, you don't buy it. PERIOD.

[Jon K]

i won't stoop to your level or personal attacks but I will say its rather sad to see a grown man like yourself harassing a 23 year old because he has an opinion and hasn't ****ed up as bad as himself

not only clueless, IDIOT is more what I meant.

[632 Regal]

your paragraph is quite confusing. I will guess that you meant that you haven't ****ed up as bad as I have? Who ever said I ****ed up?

I only state that you have NO CLUE about what is going on in this economy. The only thing that you keep repeating is about people with ARM loans... That is 1 small factor in the issue and yes they bit more off than they can chew.... **** em.

I watched the value of my home drop 68% so far as of August when I had it appraised for tax purposes. It will undoubtedly drop another 20% or so in the next few months. This is why some people are walking away from their houses and going to apartments until this mess is over. Who wants to buy a house that will continue to drop in the future? Thats madness.

Believe it or not people below you high stature are blue collar workers and in case you havent turned the news on lately there is a thing called unemployment. This is where someone loses their job. They burn through their savings while looking for a job and since there aren't many jobs available Poof they foreclose.

I again reiterate.... IDIOT

i won't stoop to your level or personal attacks but I will say its rather sad to see a grown man like yourself harassing a 23 year old because he has an opinion and hasn't ****ed up as bad as himself