homes in foreclosure top 1 million

[tylerd]

shouldn't the bank know if you can afford the loan or not ?

the ARM loans went to anyone that applied including those with bad or no credit. wouldn't that make sense if for only one reason, their intention was for the loan recipient to screw up so they could steal the house at a low price?

 

[hydrobud]

the ARM loans went to anyone that applied including those with bad or no credit. wouldn't that make sense if for only one reason, their intention was for the loan recipient to screw up so they could steal the house at a low price?

i thought there is a federal rule that the lending instituition is not suppose to give a loan based on the potential value of the home ?

 

[tylerd]

Irish is entirely right. The Housing situation has been a long time coming.... No single administration is to blame. Blame rests on the shoulders of the lenders and the people who thought they could afford the homes in the first place.

so the entire housing calamity of the most foreclosures ever is blamed on a prior administration, as is the price of fuel, the cost of food, high unemployment, our biggest deficit in history and the pathetic state of our health care? bush's admin is innocent, as there can always be a reason why it's not their fault. but what have they done to correct these problems? didn't our government just give two $100 billion dollar awards (not loans because they don't pay back) to banks so they would loosen up their credit criteria some more? they haven't. reminds me of the billions we gave the airlines a few years back who fired their employees anyway.

bush's only involvement in america over the past term has been to waste tax money. his war on terror has cost us billions and billions, but all it seemed to accomplish at home was drive the gas prices up four times more than when he started his presidential debacle. oh, and kill 5000 of our soldiers too.

let's make this easier...if he's such a good president, can anyone point out how america has benefited since bush was elected?

 

[RJMacReady16]

let's make this easier...if he's such a good president, can anyone point out how america has benefited since bush was elected?

Man, while I don't think he is a particularly good one, I don't think history will judge him quite as poorly as people do now.

As far as American benefits go, I have enjoyed the lack of savages blowing up our buildings since 9-11-01.

It's easy to blame problems on a third party. The fact is though, there were numerous people in my little town working at factories pulling down 35-50k a year while building & moving into $400-$600k homes when this housing thing was booming.

That's just 'tarded....

This is sort of the same reason I don't have a premium format collection although I covet them greatly.

 

[hydrobud]

Man, while I don't think he is a particularly good one, I don't think history will judge him quite as poorly as people do now

i guess time will tell . but he is responsible for invading a sovereign country who was not a threat to the US which we are now occupying force. didn't we go to war with Iraq when they did that to Kuwait ? Germany did the same thing on September 1, 1939

 

[RJMacReady16]

Well there's points and counterpoints we could all make until we're blue in the face and this becomes the "Lucase Endorses Obama" thread (which is a fantastic read btw!).

And like I said, I'm certainly not taking sides on lil' W...because with almost every President there are certainly pros and cons.

 

[BadMoon]

When I worked at Quizno's a guy asked me what came on a turkey ranch and swiss sandwich. After I told him, he asked me what kind of dressing came on it.

LOL! It wasn't Jared was it? He gets confused when he doesn't eat Subway.

 

[monkeydad16]

WAAAHHHH! I bought a home that I could not afford, and now I need to blame someone besides myself. I know, I'll blame the President.

This mentality =

 

[tylerd]

WAAAHHHH! I bought a home that I could not afford, and now I need to blame someone besides myself. I know, I'll blame the President.

This mentality =

the president? no, his administration for ignoring the current economy at home instead of war mongering and trading oil for blood. i'm so glad you had much intelligence to share today with us grown ups. now it's back to sylvan for you junior. ps: if you're not really an adolescent, my apologies. you sure fooled me.

 

[monkeydad16]

the president? no, his administration for ignoring the current economy at home instead of war mongering and trading oil for blood. i'm so glad you had much intelligence to share today with us grown ups. now it's back to sylvan for you junior. ps: if you're not really an adolescent, my apologies. you sure fooled me.

Ahhh, nice ad hominem attack. BTW, that's usually a sure sign you're losing. Your first post to kick this thread off sure did sound like you were blaming the President. I'll underline for emphasis:

a very, very disturbing result of the bush administration. the blame shouldn't fall on the people just because their credit is shaky. more and more people are having to use their credit for necessities and not luxuries. add into the mix unregulated mortgage and finance companies scamming people with adjustable rate loans and you have a BIG housing problem in america. hey bush, you needed to concentrate on the problems here at home, instead of making you and your oil company buddies rich beyond belief. i honestly don't know why this bastard has been allowed to screw over america with absolutely zero being done about it? darker days indeed to come folks.

HMMM

 

[tylerd]

Ahhh, nice ad hominem attack. BTW, that's usually a sure sign you're losing. Your first post to kick this thread off sure did sound like you were blaming the President. I'll underline for emphasis:



HMMM

that was a killer reply. obviously a 'w'
bush IS his administration. let me know if this is going too fast. does the president do more than look stupid on camera and ensure oil profits to himself and his buddies? he should but he doesn't, IGNORING the country's biggest problems. you have to be a cattle *ucker not to notice current events tex. guess that mystery is solved.

 

[woodsy]

AMEN!!!!! can you teach a finance class for high school kids??? seriously, don't they teach economics or simple budgeting anymore??? there was a guy in my class last term.. couldn't have been a day older than 18. just out of high school. what's he driving???? a new 5 series BMW. now i'm almost 100% that his mommy and daddy got it for him, but he was constantly ^^^^^ing about all the bills he had and how he couldn't afford rent, or whatever. i just chuckled and asked how much his car payments were. seriously, i think these dumb kids that have to have the 28,999 sq. foot house, and brand new BMW or Lexus out to be kicked in the ass. they finish school and go bury themselves even further into debt??? no thanks.... i have no problem renting for a couple more years until i can get completely finished with school and settled with my career and finances. sure, my parents are always ^^^^^ing at me about how i spend so much on my collecting habits, but i really don't over extend myself to where i can't pay my bills and put it on credit cards. (finally)

I could , as could alot of other board members based on the overwhelmingly tone of this thread, but it wouldn't make the slightest difference. We're living in an age of "entitlement" where everyone wants everything, and they want it now. And inevitably, when they do a "crash and burn" [as evidenced with the housing crisis] they expect mommy and daddy, or in this case, the Federal Gov't. [aka the taxpayer, aka the fiscally responsible] to bail them out.
I think I'd be pretty pissed if my tax dollars were being used to help someone living in a $400,00 house so they could keep their home, esp. when they had no business spending that kind of money in the first place.

 

[BadMoon]

I could , as could alot of other board members based on the overwhelmingly tone of this thread, but it wouldn't make the slightest difference. We're living in an age of "entitlement" where everyone wants everything, and they want it now.

Don't forget that they want it for the cheapest price. LOL! You nailed the problem.

 

[Bodie The Cursed]

I could , as could alot of other board members based on the overwhelmingly tone of this thread, but it wouldn't make the slightest difference. We're living in an age of "entitlement" where everyone wants everything, and they want it now. And inevitably, when they do a "crash and burn" [as evidenced with the housing crisis] they expect mommy and daddy, or in this case, the Federal Gov't. [aka the taxpayer, aka the fiscally responsible] to bail them out.
I think I'd be pretty pissed if my tax dollars were being used to help someone living in a $400,00 house so they could keep their home, esp. when they had no business spending that kind of money in the first place.

I gotta agree w/ that logic..

 

[The Chaver]

What does the president have to do with it?
Isn't legislation controlled by Congress?

I think the congress,the President and the rest of the political infastructure has everything to do with it.There all just playing the blame game,in which they all know that THEY'RE all responsible for what's happening.And remember the president is just a figure head,just a cog in the wheel so to speek.It's the system that's to blame here.