I think I will stop paying my mortgage

[pgm]

Has it been pointed out that the new mortgage stuff is only for those who are current on their mortgages.

 

[mskafka]

I've had to be on medicaid and unemployment once in my adult life. 3 weeks on unemployment and 6 mos. on medicaid. It was a dark time in my life, and I would rather be beaten than go through it again. Do you think that people enjoy being unemployed? I call bullshit on that one. Most people want to be productive. But due to a series of bad choices, injuries, or whatever fate has landed many of them into this unfortunate position.

 

[rightwinger]

Because in this adminitration if you are a dead beat you get rewarded. More help for people who are behind or under water on their mortgage.

People like us who pay our mortgage on time and never been late gets no help of course.

Rather than defaulting on your mortgage why don't you take advantage of Obamas program to allow low cost refinancing. It is made for people like you who are struggling

 

[Lovebears65]

I guess the left hates it when the class warefare is directed to them!

 

[Ravi]

It's not a bad thing... the problem is we have in some instances, people who simply cannot afford to own a home... in other instances perhaps they cannot afford a home dues to other circumstances.

I think when the Government gets involved in these issues, well, we see what happens when the government gets involved.... we end up with people who simply cannot afford to own a home, owning a home the simply cannot afford.

All this latest "help" for homeowners is simply:

U.S. regulators will let qualified homeowners refinance mortgages regardless of how much their houses have dropped in value, expanding a government effort to chip away at one of the economy's most unyielding problems.

U.S. Mortgage Plan Expanded to Aid Underwater Borrowers - BusinessWeek

See the word "qualify?" See the word "regulators?"

This is easing regulations for qualified homeowners.

Please don't tell me that conservatives think that is somehow a bad thing.

No need to get snippy..... I don't necessarily have a problem... however.... say I loan you $200,000 @ 6% and the underlying asset is worth $200,000. Now fast forward and you owe me $190,000 and the underlying asset is now worth $120,000.... I'm already exposed, why would I fruther the exposure by saying you owe me $190,000 @ 3%?

As far as I can tell, lenders aren't being forced to participate but rather are being encouraged to participate.

 

[Defiant1]

Because in this adminitration if you are a dead beat you get rewarded. More help for people who are behind or under water on their mortgage.

People like us who pay our mortgage on time and never been late gets no help of course.

How is allowing people to refinance their mortgages a bad thing, exactly?

Who is going to pay for it?

 

[Ravi]

The new help isn't for people who aren't paying their mortgage.

There you go again: messing up a rightwing rant with facts. Not fair.

So far the entitlements that Obama has given people. The mortgage thing. Student loans ,Student Loan Relief. ( we pay for our kids college by cash no loan debt) Unemployment benefits are at 99 weeks and Obama wants to make it longer. Why would anyone look for a job when they can sit on their ass for a year and half plus some if Obama makes it longer Obama: Extend Payroll Credits And Unemployment Benefits - Yahoo! News
Now they get free cell phones if you on food stamps or other assistance.. Why doesnt the government pay for our cell phones. Free long distance is another entitlement.

I am tired of my tax dollars for people who do not want to help themselves!!! My husband and I would work 3 or 4 jobs not to take a handout..

What would you rather your tax dollars be spent on? More illegal invasions of sovereign nations?

I’ve been listing to this ignorant rightwing whining for decades, it’s sickening.

Spending on education is an investment in the future, unless the right wants future generations of Americans to be ignorant and unemployed.

Unemployment comp is not an ‘entitlement,’ it’s insurance paid for by employee and employer. An extension is needed because there are no more jobs in the employment markets adversely effected, these are displaced workers, their jobs are gone, never to come back. They are in need of education and training programs.

The right’s blind adherence to the dogma of Social Darwinism is what got us into this mess in the first place, and conservatives have the nerve to complaint about the relief provided victims of their failed fiscal policies.

Unbelievable.

There isn't actually any taxpayer money involved in this program.

 

[Ravi]

I guess the left hates it when the class warefare is directed to them!

What are you babbling about?

How is allowing people to refinance their mortgages class warfare, exactly?

 

[Ravi]

Because in this adminitration if you are a dead beat you get rewarded. More help for people who are behind or under water on their mortgage.

People like us who pay our mortgage on time and never been late gets no help of course.

How is allowing people to refinance their mortgages a bad thing, exactly?

Who is going to pay for it?

The people that are refinancing.

It would be no different than if I refinance my mortgage. I'd still have to make the payments.

 

[Inthemiddle]

Who is going to pay for it?

Shining example of people having something to say about an issue, by not having the first clue which hole on the golf course is their own ass.

 

[manifold]

I think I will stop paying my mortgage.

Could you kindly let me know how that works out for you?

 

[rightwinger]

I guess the left hates it when the class warefare is directed to them!

I realize you are struggling, but there are many programs to help people like you. We are all in this together and need to help each other out

 

[eflatminor]

Only problem is that the wealth is being redistributed towards the top.

Please demonstrate where the government is taking money from middle class citizens and giving it in the form of entitlements to rich people.

 

[Defiant1]

How is allowing people to refinance their mortgages a bad thing, exactly?

Who is going to pay for it?

The people that are refinancing.

It would be no different than if I refinance my mortgage. I'd still have to make the payments.

How?

Example:

You bought a $200K with 5% down

Orig mortgage $195K

Home now worth $125K

You still owe $180K

What are you going to refinance?

If I was the bank I would give you a mortgage of $100K.

You would have to come up with $80K cash, 25K - 20% of 125K and 45K to pay off the old loan.

Will that help?

 

[rightwinger]

Here you go love bears....this is for people such as yourself who are struggling

Obama to promote new steps to help housing woes

Thankfully, we have a government willing to look out for the less fortunate among us

 

[eflatminor]

Actually the "poor" in America have it great compared to the rest of the world:

What is Poverty in the United States: Air Conditioning, Cable TV and an Xbox

Perhaps you missed it, or perhaps you simply don't care enough about facts and knowledge to let them stand in the way of your prejudices, but poverty is relative to culture. There are "rich" people in primitive African tribes who couldn't afford the shoes I'm wearing. Money and wealth are not immediately translatable across cultural lines, because different cultures have different needs and availability of material possessions. For example, many poor people in rented rooms that often come with free cable or satellite, or they may live in large houses with several house mates which allows them to each contribute a very small amount of money to afford themselves cable for the house. Also, in some places, it's not possible to have ANY kind of television reception for even local channels without having a $5/month cable plan. In some states AC is considered a necessity for the sake of renting out a home. And used video game systems can be obtained very cheaply, or could be given as a gift from a wealthier friend or family member. Trying to use one culture's standard of poverty to define another culture's is me saying that I live a happier life than you do, because I go kayaking almost every weekend and you go far less frequently. Comparative happiness in our respective lives is not translatable in such terms.



Wealth is ALWAYS forcibly redistributed, every single day, under any economic model, since the beginning of history. This is a fact of human existence. You're complaint is that you prefer on method over the other, and you seem to have no concern for how it affects, builds, or degrades society.

You know, what we used to call theft.

No we didn't. Theft is when you take something that belongs to me without my permission, against social norms or rules. You seem to be complaining about taxation and expenditures, which are enacted in accordance WITH the rules (laws) of our society. I guess you don't understand the difference. Maybe you're a little schizotypal, I dunno.

"What we used to call theft"? No. It's what we used to call "the tax table before it got gouged by Bush."

Redistribution of wealth started well before Bush dumbshit. And yes, it's theft. If you don't think so, tell us how you would react if I stole your wallet...but gave it to a homeless guy. Theft or not?

 

[Inthemiddle]

Please demonstrate where the government is taking money from middle class citizens and giving it in the form of entitlements to rich people.

Oil subsidies is a good place to start.

 

[eflatminor]

Actually the "poor" in America have it great compared to the rest of the world:

What is Poverty in the United States: Air Conditioning, Cable TV and an Xbox

Perhaps you missed it, or perhaps you simply don't care enough about facts and knowledge to let them stand in the way of your prejudices, but poverty is relative to culture. There are "rich" people in primitive African tribes who couldn't afford the shoes I'm wearing. Money and wealth are not immediately translatable across cultural lines, because different cultures have different needs and availability of material possessions. For example, many poor people in rented rooms that often come with free cable or satellite, or they may live in large houses with several house mates which allows them to each contribute a very small amount of money to afford themselves cable for the house. Also, in some places, it's not possible to have ANY kind of television reception for even local channels without having a $5/month cable plan. In some states AC is considered a necessity for the sake of renting out a home. And used video game systems can be obtained very cheaply, or could be given as a gift from a wealthier friend or family member. Trying to use one culture's standard of poverty to define another culture's is me saying that I live a happier life than you do, because I go kayaking almost every weekend and you go far less frequently. Comparative happiness in our respective lives is not translatable in such terms.

As to why someone might complain, I don't know, maybe it has to do with the forcible redistribution of wealth?

Wealth is ALWAYS forcibly redistributed, every single day, under any economic model, since the beginning of history. This is a fact of human existence. You're complaint is that you prefer on method over the other, and you seem to have no concern for how it affects, builds, or degrades society.

You know, what we used to call theft.

No we didn't. Theft is when you take something that belongs to me without my permission, against social norms or rules. You seem to be complaining about taxation and expenditures, which are enacted in accordance WITH the rules (laws) of our society. I guess you don't understand the difference. Maybe you're a little schizotypal, I dunno.

Nobody is starving in America so nobody is truly poor in America. Case closed.

And yes, taking money from some, even if it is to be handed over to another, is theft. Another way to look at it: How is forcing some to labor on the behalf of others not slavery?

 

[eflatminor]

Please demonstrate where the government is taking money from middle class citizens and giving it in the form of entitlements to rich people.

Oil subsidies is a good place to start.

Oil and gas are already among the most taxed products in the economy. Raising those taxes (by eliminating subsidies) will cause more or less money in the hands of the Middle Class?

Economics 101 my man. Next.

 

[Defiant1]

BTW, in my example upthread I forget to mention that I waived the refi fees.