Damn Obama!!!!!!!! Look what he is planning next!!!!!!

[buddyluv1968]

The banks were giving out shady loans.

Not really the problems that we are having was caused by a combination of things... adjustible rate mortgages, unemployment, WAR IN IRAQ etc. etc.

[Spark]

It makes you sick buddy ... America's dream ... Own your own home ....

[Guns]

Just yesterday I just got an appraisal back from a retired school teacher. She was a teacher for 28 years. She worked hard and bought her house for 180k. If I refinanced her she would save $120 per month. Her appraisal came back at 154k. Her last appraisal was in 2008 and it came in at 185k. So what did she do to lose 30k in value????

Nothing. Lack of demand and foreclosures have driven the comp's down. Just the victim of a bad market.

[vols fan]

Just yesterday I just got an appraisal back from a retired school teacher. She was a teacher for 28 years. She worked hard and bought her house for 180k. If I refinanced her she would save $120 per month. Her appraisal came back at 154k. Her last appraisal was in 2008 and it came in at 185k. So what did she do to lose 30k in value????

For every 1 story like this, I can show you 20 in the other direction

[vols fan]

Just yesterday I just got an appraisal back from a retired school teacher. She was a teacher for 28 years. She worked hard and bought her house for 180k. If I refinanced her she would save $120 per month. Her appraisal came back at 154k. Her last appraisal was in 2008 and it came in at 185k. So what did she do to lose 30k in value????

It's sad, I'm not arguing that I promise.I hate it for this woman and every other person who did it the right way.

[buddyluv1968]

Nothing. Lack of demand and foreclosures have driven the comp's down. Just the victim of a bad market.

Thanks Guns... That's is all I have to say... I do not know what the answer is but the administration is just trying to stop the bleeding... Before it spreads and effect more of us...

[vols fan]

Nothing. Lack of demand and foreclosures have driven the comp's down. Just the victim of a bad market.

And IMO the housing market is bad because of people that couldn't afford thier homes and now all the foreclosures have driven down the market.And now she has to suffer.Thats why I get so pissed about this shit.

Do it the right way get fucked,do it the wrong way and get bailed out

[Guns]

Thanks Guns... That's is all I have to say... I do not know what the answer is but the administration is just trying to stop the bleeding... Before it spreads and effect more of us...

Additionally, banks have tightened their lending criteria. It usually happens that well intentioned individuals are the ones that usually suffer for the sins of others. The banks and consumers are equally responsible for this mess.

Full disclosure here...my dad works for a bank and is helping me here. I am just glad I can hang on to his insurance for another 3 years. jk, he will boot me long before that

[flarendep1]

Pretty soon, people are just gonna say fuck it, I am not working anymore. Whats the use.

[buddyluv1968]

And IMO the housing market is bad because of people that couldn't afford thier homes and now all the foreclosures have driven down the market.And now she has to suffer.Thats why I get so pissed about this shit.

Do it the right way get fucked,do it the wrong way and get bailed out

Vols I think we're talking about the same thing. And I think that if you had a talk with President Obama you would find out that you two agree on the same things. But as President you have to look what best for the country as a whole. I did not like the bank bailout. But this bailout is minor compared to the bank bailout. This plan is not helping people that bought more than they could afford. I read some of the guidelines posted on the web. And it is fair, the lending practices is going back old school...

[vols fan]

Thanks Guns... That's is all I have to say... I do not know what the answer is but the administration is just trying to stop the bleeding... Before it spreads and effect more of us...

Hell buddy I don't have an answer for what would stop the bleeding either.I agree that it's an attempt to fix things but it sucks for all the people who have struggled and made it to see people sit back and get bailed out.That should bother every person who has ever wondered how they are going to make the next bill and buckeld down and did it.Life ain't easy and it's time people learn that

[vols fan]

Vols I think we're talking about the same thing. And I think that if you had a talk with President Obama you would find out that you two agree on the same things. But as President you have to look what best for the country as a whole. I did not like the bank bailout. But this bailout is minor compared to the bank bailout. This plan is not helping people that bought more than they could afford. I read some of the guidelines posted on the web. And it is fair, the lending practices is going back old school...

I hope your right.I'm in a business where the housing boom is huge.And people like Tha Fix are REALLY hoping things turn aroun.I sale heating and air equipment and really the only thing that got cut back on me is my bonuses so I'm fine.But someone like Fix builds houses so he got cut his whole income.People like me and him hope Obama pulls something out of his ass quick cause the way it's going now isn't good

[buddyluv1968]

Hell buddy I don't have an answer for what would stop the bleeding either.I agree that it's an attempt to fix things but it sucks for all the people who have struggled and made it to see people sit back and get bailed out.That should bother every person who has ever wondered how they are going to make the next bill and buckeld down and did it.Lif ain't easy and it's time people learn that

Vols I see your point, it bothers me too. I remember working at my first job at Nations Bank in the mid 90's and I only made 20k per year. I worked hard, did the right things but at tax time I had to always pay. I had no kids, lived right and I always had to pay taxes at the end of the year. I remember the single women with kids that I worked with always got back thousand of dollars from taxes but they did not pay as much as I did. Looking back I'm glad I was not in the positions that they were in. My upside was so much better because I did not have the pressures that they were going through.

Vols you and your wife is very blessed. You have jobs, health and a roof over your head. You have peace of mind. I hope you know that is worth more than anything else....

[vols fan]

Vols you and your wife is very blessed. You have jobs, health and a roof over your head. You have peace of mind. I hope you know that is worth more than anything else....

Thanks buddy and me and Dixie thank God everyday for what we have.It ain't much but BY GOD it's ours.

[flarendep1]

Good thread Buddy, very informative without any bickering.

Good luck with your business.