We peasants must learn to live with fewer things

[Asclepias]

I'm merely suggesting self-imposed limits.
The rates of foreclosure, repossessions and bankruptcy show Americans' tendency to live beyond their means

Seriously,how stupid do you need to be to buy a house you cant afford?
The dumbing down of America continues...And judging by the last two presidential elections it appears to be dems who are the morons.

Lot of em got pressured into it by their Realtor.......hurry ..hurrry its only going to cost you more.....

With most of the help being from the Lenders.

Its easy to say that everyone who got duped is "stupid". Its harder to convince anyone that stupidity is the case across the board...across the nation all at once.

Something else besides "stupidity" was at play

Yes, greed on both sides of the ball... greedy lenders, greedy realtors and greedy people who wanted that which they could not afford. It was a perfect storm.

I dont think the people were "greedy" I think they were looking toward a professional for guidance and the professional told them they can get a 200k home for 160k payments. That was actually one of the "talking points" amongst realtors and mortgage officers.

People simply try to deny the power of marketing. Realtors and lenders market in order to make their money.

 

[CrusaderFrank]

None of which "should" cause someone to buy more than they can afford.
If you allow yourself to be taken by slick bankers and your own lack of self control you deserve what you get.
It's all about personal responsibility,something that is unfortunately lacking these days.

Its obvious you are too dull to understand that if someone tells you that your payments are going to be less than what you rent for and you will be able to refinance after a year to keep the payments low then its not a lack of self control. Its simply a lack of knowledge regarding how the banking industry works.

Perhaps they should have looked into it before they signed on the dotted line like, ten times in an average mortgage contract.

Looked into what? How would they know if the banking policies are going to change a year from now or not? They are relying on the people that are giving them the first loan and their knowledge of the industry.

No, the mortgage contract... terms don't change without caveats in the contract, that' why it is called a contract. Read it BEFOR you sign it.

The mortgage can be refinanced which is what many lenders and realtors were telling people that would not normally be able to afford the homes. I refinanced a couple of homes using this method and kept my costs down and my profits up. Unless you are a real estate attorney the average person has no clue as to what they are signing. Nor can they afford an attorney to do contract review.

If you can afford a house, you can afford an attorney to review what you're signing

 

[HereWeGoAgain]

Seriously,how stupid do you need to be to buy a house you cant afford?
The dumbing down of America continues...And judging by the last two presidential elections it appears to be dems who are the morons.

Lot of em got pressured into it by their Realtor.......hurry ..hurrry its only going to cost you more.....

With most of the help being from the Lenders.

Its easy to say that everyone who got duped is "stupid". Its harder to convince anyone that stupidity is the case across the board...across the nation all at once.

Something else besides "stupidity" was at play

Yes, greed on both sides of the ball... greedy lenders, greedy realtors and greedy people who wanted that which they could not afford. It was a perfect storm.

None of which "should" cause someone to buy more than they can afford.
If you allow yourself to be taken by slick bankers and your own lack of self control you deserve what you get.
It's all about personal responsibility,something that is unfortunately lacking these days.

Its obvious you are too dull to understand that if someone tells you that your payments are going to be less than what you rent for and you will be able to refinance after a year to keep the payments low then its not a lack of self control. Its simply a lack of knowledge regarding how the banking industry works.

Than they are even bigger dumbasses for signing something they dont understand.

 

[Asclepias]

See what I mean about intelligence? Realtors are worried about commissions. As long as you qualify for the loan they could care less if you can afford it. They are paid based of the price of the home.

And you're a complete dumbass if a realtor is capable of convincing you to purchase a home you cant afford.
It's no different than the dumbass who just has to have that fancy car even if he has to pay on it for ten years.
You see that all the time in the hood..a Caddy parked in front of a shack,neither of em paid for.

That has nothing to do with your claim that a realtor would never try to get you to buy more house than you could afford does it? Why would you say something so idiotic?

How exactly can a realtor make you buy a house you cant afford?
Thats all on you. And apparently you've been taken by one or you wouldnt be so interested in blaming them.
So just how far underwater are you asslips?

I know far more people who overestimated income to realtors and banks, than banks and realtors that knowingly over loaned to underfunded people.

But, that doesn't fit the politics of victimology.

Weren't the bankers supposed to be the adults in the room? I would never load my car keys to my 12 year old son even if he did promise to go to the grocery store for me.

.

I'd think where serious mortgage money is on the line, there would be adults on both sides of the table.

I don't sympathize with idiots that bit off more than they could chew.

Most would never have gotten loans in the first place were it not for federal pressure.

Let banks determine who they want to lend to, with no government input or backup, and banks will do fine as will qualified borrowers

I dont think you truly understand what banking is about. If there were no government pressures banks would simply cater to the rich much worse than they do now.

 

[JoeNormal]

I'd think where serious mortgage money is on the line, there would be adults on both sides of the table.

I don't sympathize with idiots that bit off more than they could chew.

Most would never have gotten loans in the first place were it not for federal pressure.

Let banks determine who they want to lend to, with no government input or backup, and banks will do fine as will qualified borrowers

I agree that people should be responsible for their actions but we all know that not everybody is. If a buyer with no collateral other than the house walks away, the bank had better be pretty damn sure that the house is worth at least the price of the loan. That's what they were counting on and it blew up in their faces.

 

[Asclepias]

Its obvious you are too dull to understand that if someone tells you that your payments are going to be less than what you rent for and you will be able to refinance after a year to keep the payments low then its not a lack of self control. Its simply a lack of knowledge regarding how the banking industry works.

Perhaps they should have looked into it before they signed on the dotted line like, ten times in an average mortgage contract.

Looked into what? How would they know if the banking policies are going to change a year from now or not? They are relying on the people that are giving them the first loan and their knowledge of the industry.

No, the mortgage contract... terms don't change without caveats in the contract, that' why it is called a contract. Read it BEFOR you sign it.

The mortgage can be refinanced which is what many lenders and realtors were telling people that would not normally be able to afford the homes. I refinanced a couple of homes using this method and kept my costs down and my profits up. Unless you are a real estate attorney the average person has no clue as to what they are signing. Nor can they afford an attorney to do contract review.

If you can afford a house, you can afford an attorney to review what you're signing

Thats not true. The review of mortgage documents could easily triple what you pay for housing in a month. You simply have no clue what you are talking about.

 

[Roadrunner]

Lot of em got pressured into it by their Realtor.......hurry ..hurrry its only going to cost you more.....

With most of the help being from the Lenders.

Its easy to say that everyone who got duped is "stupid". Its harder to convince anyone that stupidity is the case across the board...across the nation all at once.

Something else besides "stupidity" was at play

Yes, greed on both sides of the ball... greedy lenders, greedy realtors and greedy people who wanted that which they could not afford. It was a perfect storm.

None of which "should" cause someone to buy more than they can afford.
If you allow yourself to be taken by slick bankers and your own lack of self control you deserve what you get.
It's all about personal responsibility,something that is unfortunately lacking these days.

Its obvious you are too dull to understand that if someone tells you that your payments are going to be less than what you rent for and you will be able to refinance after a year to keep the payments low then its not a lack of self control. Its simply a lack of knowledge regarding how the banking industry works.

Than they are even bigger dumbasses for signing something they dont understand.

I bought my house, cash sale deed, as was, no guarantee at all.

I will sell it, cash sale deed, as is, no guarantee at all.

When I do that, I will build a house, and TWO lawyers will look at and approve every single thing I sign.

 

[CrusaderFrank]

Perhaps they should have looked into it before they signed on the dotted line like, ten times in an average mortgage contract.

Looked into what? How would they know if the banking policies are going to change a year from now or not? They are relying on the people that are giving them the first loan and their knowledge of the industry.

No, the mortgage contract... terms don't change without caveats in the contract, that' why it is called a contract. Read it BEFOR you sign it.

The mortgage can be refinanced which is what many lenders and realtors were telling people that would not normally be able to afford the homes. I refinanced a couple of homes using this method and kept my costs down and my profits up. Unless you are a real estate attorney the average person has no clue as to what they are signing. Nor can they afford an attorney to do contract review.

If you can afford a house, you can afford an attorney to review what you're signing

Thats not true. The review of mortgage documents could easily triple what you pay for housing in a month. You simply have no clue what you are talking about.

Huh?

Are you a ******* moron?

What kind of a ******* retard signs a mortgage without having an attorney review it?

 

[Asclepias]

With most of the help being from the Lenders.

Its easy to say that everyone who got duped is "stupid". Its harder to convince anyone that stupidity is the case across the board...across the nation all at once.

Something else besides "stupidity" was at play

Yes, greed on both sides of the ball... greedy lenders, greedy realtors and greedy people who wanted that which they could not afford. It was a perfect storm.

None of which "should" cause someone to buy more than they can afford.
If you allow yourself to be taken by slick bankers and your own lack of self control you deserve what you get.
It's all about personal responsibility,something that is unfortunately lacking these days.

Its obvious you are too dull to understand that if someone tells you that your payments are going to be less than what you rent for and you will be able to refinance after a year to keep the payments low then its not a lack of self control. Its simply a lack of knowledge regarding how the banking industry works.

Than they are even bigger dumbasses for signing something they dont understand.

I bought my house, cash sale deed, as was, no guarantee at all.

I will sell it, cash sale deed, as is, no guarantee at all.

When I do that, I will build a house, and TWO lawyers will look at and approve every single thing I sign.

Sounds like you can afford to do that. Not everyone has that luxury but still desires to live in a home that they own.

 

[Asclepias]

Looked into what? How would they know if the banking policies are going to change a year from now or not? They are relying on the people that are giving them the first loan and their knowledge of the industry.

No, the mortgage contract... terms don't change without caveats in the contract, that' why it is called a contract. Read it BEFOR you sign it.

The mortgage can be refinanced which is what many lenders and realtors were telling people that would not normally be able to afford the homes. I refinanced a couple of homes using this method and kept my costs down and my profits up. Unless you are a real estate attorney the average person has no clue as to what they are signing. Nor can they afford an attorney to do contract review.

If you can afford a house, you can afford an attorney to review what you're signing

Thats not true. The review of mortgage documents could easily triple what you pay for housing in a month. You simply have no clue what you are talking about.

Huh?

Are you a ******* moron?

What kind of a ******* retard signs a mortgage without having an attorney review it?

Are you retarded? I just said people that cant afford an attorney.

 

[Roadrunner]

I'd think where serious mortgage money is on the line, there would be adults on both sides of the table.

I don't sympathize with idiots that bit off more than they could chew.

Most would never have gotten loans in the first place were it not for federal pressure.

Let banks determine who they want to lend to, with no government input or backup, and banks will do fine as will qualified borrowers

I agree that people should be responsible for their actions but we all know that not everybody is. If a buyer with no collateral other than the house walks away, the bank had better be pretty damn sure that the house is worth at least the price of the loan. That's what they were counting on and it blew up in their faces.

Who would have ever dreamed we would reach such a low point in our history that banks should have assumed properties would be abused and looted before being repo'ed.

I have been looking at some bank owned properties lately.

What some people did to mortgaged property should have resulted in jail time.

 

[HereWeGoAgain]

Lot of em got pressured into it by their Realtor.......hurry ..hurrry its only going to cost you more.....

With most of the help being from the Lenders.

Its easy to say that everyone who got duped is "stupid". Its harder to convince anyone that stupidity is the case across the board...across the nation all at once.

Something else besides "stupidity" was at play

Yes, greed on both sides of the ball... greedy lenders, greedy realtors and greedy people who wanted that which they could not afford. It was a perfect storm.

None of which "should" cause someone to buy more than they can afford.
If you allow yourself to be taken by slick bankers and your own lack of self control you deserve what you get.
It's all about personal responsibility,something that is unfortunately lacking these days.

Oh, I agree... most of these people knew damn well it was a house of cards. I know people who bragged about buying homes the knew they couldn't afford saying that if it didn't work out, they'd just walk away.

And walk away many did, with all the plumbing and lighting fixtures, the a/c systems, the water heaters, and all the copper wire.

LMFAO!!!!
Nailed it!!! So I guess that means stupid and criminal go hand in hand.

 

[HereWeGoAgain]

No, the mortgage contract... terms don't change without caveats in the contract, that' why it is called a contract. Read it BEFOR you sign it.

The mortgage can be refinanced which is what many lenders and realtors were telling people that would not normally be able to afford the homes. I refinanced a couple of homes using this method and kept my costs down and my profits up. Unless you are a real estate attorney the average person has no clue as to what they are signing. Nor can they afford an attorney to do contract review.

If you can afford a house, you can afford an attorney to review what you're signing

Thats not true. The review of mortgage documents could easily triple what you pay for housing in a month. You simply have no clue what you are talking about.

Huh?

Are you a ******* moron?

What kind of a ******* retard signs a mortgage without having an attorney review it?

Are you retarded? I just said people that cant afford an attorney.

Yeah..because the dumbasses over spent on the house.

 

[CrusaderFrank]

No, the mortgage contract... terms don't change without caveats in the contract, that' why it is called a contract. Read it BEFOR you sign it.

The mortgage can be refinanced which is what many lenders and realtors were telling people that would not normally be able to afford the homes. I refinanced a couple of homes using this method and kept my costs down and my profits up. Unless you are a real estate attorney the average person has no clue as to what they are signing. Nor can they afford an attorney to do contract review.

If you can afford a house, you can afford an attorney to review what you're signing

Thats not true. The review of mortgage documents could easily triple what you pay for housing in a month. You simply have no clue what you are talking about.

Huh?

Are you a ******* moron?

What kind of a ******* retard signs a mortgage without having an attorney review it?

Are you retarded? I just said people that cant afford an attorney.

It's like a blind person driving a car.

Again, what kind of a moron buys a house and signs a mortgage without an attorney review?

 

[ClosedCaption]

Seriously,how stupid do you need to be to buy a house you cant afford?
The dumbing down of America continues...And judging by the last two presidential elections it appears to be dems who are the morons.

Lot of em got pressured into it by their Realtor.......hurry ..hurrry its only going to cost you more.....

With most of the help being from the Lenders.

Its easy to say that everyone who got duped is "stupid". Its harder to convince anyone that stupidity is the case across the board...across the nation all at once.

Something else besides "stupidity" was at play

Yes, greed on both sides of the ball... greedy lenders, greedy realtors and greedy people who wanted that which they could not afford. It was a perfect storm.

I dont think the people were "greedy" I think they were looking toward a professional for guidance and the professional told them they can get a 200k home for 160k payments. That was actually one of the "talking points" amongst realtors and mortgage officers.

People simply try to deny the power of marketing. Realtors and lenders market in order to make their money.

Also when you go to a professional you ask that professional for advice. I dont know anyone that gets fucked up by a doctor and people say "who gets surgery on something they dont understand"

 

[Asclepias]

I'd think where serious mortgage money is on the line, there would be adults on both sides of the table.

I don't sympathize with idiots that bit off more than they could chew.

Most would never have gotten loans in the first place were it not for federal pressure.

Let banks determine who they want to lend to, with no government input or backup, and banks will do fine as will qualified borrowers

I agree that people should be responsible for their actions but we all know that not everybody is. If a buyer with no collateral other than the house walks away, the bank had better be pretty damn sure that the house is worth at least the price of the loan. That's what they were counting on and it blew up in their faces.

Who would have ever dreamed we would reach such a low point in our history that banks should have assumed properties would be abused and looted before being reposed.

I have been looking at some bank owned properties lately.

What some people did to mortgaged property should have resulted in jail time.

If someone walks away there is no proof they are the ones that damaged the home unless its video taped. I knew some Mexicans that drove around with a list of homes in foreclosure and would wait until the people moved out and stripped the place for other projects.

 

[Roadrunner]

Yes, greed on both sides of the ball... greedy lenders, greedy realtors and greedy people who wanted that which they could not afford. It was a perfect storm.

None of which "should" cause someone to buy more than they can afford.
If you allow yourself to be taken by slick bankers and your own lack of self control you deserve what you get.
It's all about personal responsibility,something that is unfortunately lacking these days.

Its obvious you are too dull to understand that if someone tells you that your payments are going to be less than what you rent for and you will be able to refinance after a year to keep the payments low then its not a lack of self control. Its simply a lack of knowledge regarding how the banking industry works.

Than they are even bigger dumbasses for signing something they dont understand.

I bought my house, cash sale deed, as was, no guarantee at all.

I will sell it, cash sale deed, as is, no guarantee at all.

When I do that, I will build a house, and TWO lawyers will look at and approve every single thing I sign.

Sounds like you can afford to do that. Not everyone has that luxury but still desires to live in a home that they own.

If you can't afford to cover your ass, you cannot afford to expose your ass.

 

[Uncensored2008]

Huh?

Are you a ******* moron?

What kind of a ******* retard signs a mortgage without having an attorney review it?

About 90% of Americans sign a mortgage without a lawyer reviewing it. Actually, there is very little a lawyer brings to the table on a standard fixed rate mortgage. Disclosure laws are such that if the bank "sneaks" something in, it's unenforceable anyway.

 

[Asclepias]

The mortgage can be refinanced which is what many lenders and realtors were telling people that would not normally be able to afford the homes. I refinanced a couple of homes using this method and kept my costs down and my profits up. Unless you are a real estate attorney the average person has no clue as to what they are signing. Nor can they afford an attorney to do contract review.

If you can afford a house, you can afford an attorney to review what you're signing

Thats not true. The review of mortgage documents could easily triple what you pay for housing in a month. You simply have no clue what you are talking about.

Huh?

Are you a ******* moron?

What kind of a ******* retard signs a mortgage without having an attorney review it?

Are you retarded? I just said people that cant afford an attorney.

It's like a blind person driving a car.

Again, what kind of a moron buys a house and signs a mortgage without an attorney review?

Are you retarded? I just said people that cant afford an attorney.

 

[Roadrunner]

I'd think where serious mortgage money is on the line, there would be adults on both sides of the table.

I don't sympathize with idiots that bit off more than they could chew.

Most would never have gotten loans in the first place were it not for federal pressure.

Let banks determine who they want to lend to, with no government input or backup, and banks will do fine as will qualified borrowers

I agree that people should be responsible for their actions but we all know that not everybody is. If a buyer with no collateral other than the house walks away, the bank had better be pretty damn sure that the house is worth at least the price of the loan. That's what they were counting on and it blew up in their faces.

Who would have ever dreamed we would reach such a low point in our history that banks should have assumed properties would be abused and looted before being reposed.

I have been looking at some bank owned properties lately.

What some people did to mortgaged property should have resulted in jail time.

If someone walks away there is no proof they are the ones that damaged the home unless its video taped. I knew some Mexicans that drove around with a list of homes in foreclosure and would wait until the people moved out and stripped the place for other projects.

You are one funny guy!!!!!

"I knew some Mexicans....."!!!

Man, you could build a comedy career on that lead in.