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i was wondering, as im standing in my kitchen, looking out the window at one of my neighbors getting evicted,if he and his wife said to each other when they took out their mortgage , i shure hope we cant make these payments. in a community where the median home price is 60,000.00 i dont think people were buying over there heads. but yet more and more people are losin there homes, banks foreclose on these people, kick them out and sell the same places for 20 to 30 cents on the dollar.i cant seem to wrap my head around the concept.
Question, did your neighbor use an adjustable rate mortgage or fixed?
Are they going to go pay rent somewhere, or are they moving in with someone else? If they are going to pay rent, then why couldnt they pay their mortgage? Its not like rent will be that much cheaper than a mortgage on a $60,000 home. Even in the poorest parts of Pittsburgh rent is more than a mortgage on a $60K home.
Why didnt they pay their mortgage? Lack of work?
Did they choose to giveup the home even though they could afford it simply due to a loss of equity? Yes many fools looked and said, I owe $70K, home only worth $60K.. I'm not paying..
i was wondering, as im standing in my kitchen, looking out the window at one of my neighbors getting evicted,if he and his wife said to each other when they took out their mortgage , i shure hope we cant make these payments. in a community where the median home price is 60,000.00 i dont think people were buying over there heads. but yet more and more people are losin there homes, banks foreclose on these people, kick them out and sell the same places for 20 to 30 cents on the dollar.i cant seem to wrap my head around the concept.
Most of these people deserve the foreclosures, they don't get a drop of sympathy from me.
Sorry, you will lose your house, NObama takes a dim view on responsible tax payers..your house will be given to yet another welfare queen who begged NObama for "help"
Yea, the media keeps blasting us with tales about the big bad banks and mortgage companies who loaned the people the money. Ummm, hello media - the Feds wanted everyone to own their own home and set things in place for the collapse. But moreover, a lot of it was plain greed and gimme on the part of the buyers.
Most of these people deserve the foreclosures, they don't get a drop of sympathy from me.
i am not shure where you live , but in the real world people make 10.00 to 15.00 per hour, some for the most part responsably try to raise their families, and more reality hits and you lose your job. you know im not talking about some jag off in a 300,000.00 house, im talking about a real person getting kicked to the curb for doing the best they can.
Well -- welcome to the globalist economy. Haven't people been paying attention to the export of our jobs to cheap labor countries? How long did people believe this could go on without some kind of consequence? We're now competing with the third world and the third world doesn't live in $60,000 houses.
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