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Old 06-01-2010, 07:21 PM
 
2,143 posts, read 7,188,763 times
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Quote:
Originally Posted by annerk View Post
Like I said, why do you think you are entitled to a principle reduction unless EVERYONE is as well? I bought a house I can afford, pay my mortgage, don't have a home equity loan or use my home as an ATM. Why should my tax dollars or higher interest rates bail you out when in fact we did the exact same thing as you did? Why are you so special?
That's the question he will never answer.
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Old 06-01-2010, 07:37 PM
 
2,878 posts, read 3,852,119 times
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Quote:
Originally Posted by Lilybeans View Post
That's the question he will never answer.
I think I did.
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Old 06-01-2010, 08:37 PM
 
2,143 posts, read 7,188,763 times
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Quote:
Originally Posted by ognend View Post
I think I did.
No, you haven't yet. You need to explain how it is fair to all of the people paying their mortgages, and all of the people who paid off their mortgages, that you should get some sort of principal reduction or lowered payment because the value of your home went down.

How is it fair that you get this, but others who have paid and are paying don't get this?

This isn't about banks. It's about what is fair to your neighbors. Why are you entitled to something and your neighbor who paid his mortgage isn't?
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Old 06-01-2010, 08:41 PM
 
1,136 posts, read 517,074 times
Reputation: 1211
Quote:
Originally Posted by annerk View Post
Like I said, why do you think you are entitled to a principle reduction unless EVERYONE is as well? I bought a house I can afford, pay my mortgage, don't have a home equity loan or use my home as an ATM. Why should my tax dollars or higher interest rates bail you out when in fact we did the exact same thing as you did? Why are you so special?

You're already doing it, and its because your president and your elected representatives in the congress and senate said you should. I don't know why you keep arguing against it, its already happening.

By the way, the balance on a mortgage is the "principal" "Principles" are what is lacking in the people that can afford the mortgages but aren't paying them.
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Old 06-02-2010, 03:34 AM
 
2,878 posts, read 3,852,119 times
Reputation: 3080
Quote:
Originally Posted by SuiteLiving View Post
You're already doing it, and its because your president and your elected representatives in the congress and senate said you should. I don't know why you keep arguing against it, its already happening.

By the way, the balance on a mortgage is the "principal" "Principles" are what is lacking in the people that can afford the mortgages but aren't paying them.
All I am saying (and this is a purely philosophical discussion since "people" have long ago lost the voice in the face of a morally bankrupt government ruled by corporate lobbyist money) is that since the banks were immorally and led by greed lending money to anyone who could walk into the bank and prove they have a pulse, the banks are at least half way responsible for what happened. Since they got bailed out and I have no power to make a change in this world, I am reserving the right to vote with my wallet and look after my best interest. Since you or annerk or Lillybeans are not going to chip in with my mortgage and the three of us cannot agree on much, it is not all for one and one for all. That does not mean I will walk on my mortgage tomorrow but if I see a year or two of bad home values or home values going down while my bank is paying out fat bonuses and generally enjoying the fruits of a major heist on the American people, I reserve the right to do what I think is right.

For anyone who thinks that I am morally bankrupt, I say to them Moderator cut: language not allowed that I am putting my actions where my words are and that choosing the above route is not without personal consequences. My credit rating would be shot and my house would be lost. I might get dragged through the court system like a criminal that I am not, by a dishonest and greedy bank that is now preaching morals to me. My ability to borrow would be destroyed. But you know what? I would not care since I think I would be doing the right thing. And, oh, next time I would be buying a lot of land for cash ONLY and building a house on it by myself for cash ONLY (the lot can be somewhere cheap and rural and the house need not be very big, I don't need thousands of sqft and three garages). So I really would not need the bank anymore. Since I don't really need credit cards (and I never owe on them anyways) and since all my vehicles are bought used and already paid for, I really, really would not need the god damn bank anymore. All that is left is for me is to start growing my own food and get off the grid and I am done.

How is that for a "principle"?

Last edited by doggiebus; 06-02-2010 at 08:01 AM..
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Old 06-02-2010, 04:59 AM
 
26,590 posts, read 54,501,917 times
Reputation: 13016
Quote:
Originally Posted by SuiteLiving View Post
You're already doing it, and its because your president and your elected representatives in the congress and senate said you should. I don't know why you keep arguing against it, its already happening.
It's happening in very small bits and pieces (and I'm not happy about it) to a finite number of homeowners. Personally I feel that if you take a loan you are responsible for it. period. (Unless there was fraud involved specifically on your loan, ie someone took a loan in your name, or the note was changed and your signature was forged after the fact.) It only punishes those of us who bought houses we can afford, put down our 20%, and made our payments--we are being opunished for doing the right thing and being responsible.

Frankly for those who bought houses they couldn't afford using ridiculous subprime mortgages with no money down and ARM's that adjusted every six months after the initially low teaser rate, they are STUPID and they can sleep in the street for all I care. AMERICAN GREED is what caused this problem. It wasn't just the corporations, it was also the PEOPLE who overspent, lived on their homes like they were ATM's, lived the large life and never thought or planned for the future.

People who can pay their mortgages and choose not to should face significant capital gains taxes. Same thing with anyone who is foreclosed on. They should be taxed on the amount of mortgage payments from the time they stop paying until they are actually out of the home--which could be a number of years these days. If the PITI is $2000 a month, and they live in the home for free for two years, that's $48,000 that they should be taxed on.

Quote:
By the way, the balance on a mortgage is the "principal" "Principles" are what is lacking in the people that can afford the mortgages but aren't paying them.
I'm not an editor, never said I was. And generally when people resort to critiquing grammarical errors, it's because they are running out of any tyope of valid arguement.
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Old 06-02-2010, 05:18 AM
 
1,136 posts, read 517,074 times
Reputation: 1211
Quote:
Originally Posted by annerk View Post
I'm not an editor, never said I was. And generally when people resort to critiquing grammarical errors, it's because they are running out of any tyope of valid arguement.
The standard response from those who choose not to accept constructive criticism but rather feel threatened by someone pointing out their errors.

I'm not happy about what's going on either. I'm one of the responsible ones who took out a mortgage I could afford and paid it off in 8 years, not 30, because I didn't want to be in debt. Compound it with the fact that I'm fortunate enough to make a decent living, so I get the good fortune to pay more taxes to pay for everyone else's mistakes.

Get out the vote in the mid-term elections and throw everyone out who passed the generous laws that made all of these things possible. Right now that's the most effective way of voicing one's displeasure over the state of the country.
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Old 06-02-2010, 05:29 AM
 
26,590 posts, read 54,501,917 times
Reputation: 13016
Quote:
Originally Posted by SuiteLiving View Post
The standard response from those who choose not to accept constructive criticism but rather feel threatened by someone pointing out their errors.
I don't feel at all threatened. I get paid to write at my job, not edit.

Quote:
I'm not happy about what's going on either. I'm one of the responsible ones who took out a mortgage I could afford and paid it off in 8 years, not 30, because I didn't want to be in debt. Compound it with the fact that I'm fortunate enough to make a decent living, so I get the good fortune to pay more taxes to pay for everyone else's mistakes.

Get out the vote in the mid-term elections and throw everyone out who passed the generous laws that made all of these things possible. Right now that's the most effective way of voicing one's displeasure over the state of the country.
I haven't missed voting in an election for over 20 years. That's everything from school board to president. Part of the problem is that NONE of them are good candidates in my book.

We paid more in taxes last year than the median household income for this area, so we are doing more than our share. And we aren't paying off the mortgage because we have a low fixed rate and are earning more in investment accounts than we are paying in interest. Wealth building 101.
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Old 06-02-2010, 05:40 AM
 
1,136 posts, read 517,074 times
Reputation: 1211
Quote:
Originally Posted by annerk View Post
I don't feel at all threatened. I get paid to write at my job, not edit.
You must have a terrific editor, hope he/she is well paid.

Quote:
Originally Posted by annerk View Post
I haven't missed voting in an election for over 20 years. That's everything from school board to president. Part of the problem is that NONE of them are good candidates in my book.

We paid more in taxes last year than the median household income for this area, so we are doing more than our share. And we aren't paying off the mortgage because we have a low fixed rate and are earning more in investment accounts than we are paying in interest. Wealth building 101.
As I said, I chose to pay my mortgage off because I didn't want to be in debt. Good Night's Sleep 101. Debt almost destroyed my company which scared the hell out of my family. Could I have made more in the market, yes. But that would not have provided the security my family was looking for.
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Old 06-02-2010, 05:46 AM
 
2,143 posts, read 7,188,763 times
Reputation: 1138
Quote:
Originally Posted by ognend View Post
I reserve the right to do what I think is right.
And that is the essence of the entitlement mentality. Case closed.
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