LIers react to $75B federal mortgage program (New York, York: foreclosure, renter)
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LIers react to $75B federal mortgage program -- Newsday.com (http://www.newsday.com/news/local/politics/ny-bzreax0512517339mar05,0,4211660.story - broken link)
This is how the hard working struggling middle class can revolt, let us ban together and make Washington listen.
If the middle class think O’man is not going to raise there taxes they are foolish. Mortgage deductions gone, upcoming tax deductions to be eliminated ,Cap and trade provisions causing costs to be passed to the middleclass consumer, Socialized medicine, all costs hidden and disguised passed to you and taken from paycheck, Social Security benefits to Illegal Aliens, Mortgage principal write-down’s for the irresponsible liar loan holder. and many more increases on the way.
Let us ban together and send these free spending losers in Washington a message that they will understand NOW.
1) Stop all large-scale purchases such as new cars appliances ECT.
2) Write or e-mail elected officials we are not going to allow this and we will vote you out of office in the next election.
3) Cut back on all discrepancy spending, such as eating out, going to the movies, vacations, ECT. Rent DVDs or get free at library, eat at home stay local, enjoy your back yard.
4) Do home repairs you if possible, general how to repair instructions can found on line. If not hire friends or local services.
5) Lower monthly costs by cutting extras e.g. Cable TV has expanded coverage, and cell phone plan extras not needed. Back to basics.
6) Boycott any service providers using Illegal aliens, these people and employers are not paying taxes causing you to pay twice once for there services and second the costs of the illegal’s free health care and the Welfare costs for all there anchor babies. You are also paying by increased school, and local taxes.
7) Cut your own lawn ,boycott the landscapers using these illegal’s and if you need outside help use a teenager, yes there are still some willing to work .Check with a Niebuhr or the local bulletin boards at your supermarkets ECT.
8) Stop investing in stocks and save more by purchasing CD money markets, stable value mutual funds ECT., at least until the market stabilizes. Buy some Gold or long term securities.
9) Pay down debt; refinance mortgages to fixed lower interest rates if applicable.
10) Stop all charitable donations, since Washington is spending so much of are money let them pay. Also, stop charitable donations to any church or Temples supporting or harboring tax evading Felon Illegal Aliens.
11) Make contributions even if small to organization that supports your views on the above.
12) Cancel all subscriptions to newspapers like Newsday that push and support Illegal Immigration and socialized philosophies, also try to boycott there advertisers.
This is how the hard working struggling middle class can revolt, let us ban together and make Washington listen.
If the middle class think O’man is not going to raise there taxes they are foolish. Mortgage deductions gone, upcoming tax deductions to be eliminated ,Cap and trade provisions causing costs to be passed to the middleclass consumer, Socialized medicine, all costs hidden and disguised passed to you and taken from paycheck, Social Security benefits to Illegal Aliens, Mortgage principal write-down’s for the irresponsible liar loan holder. and many more increases on the way.
Let us ban together and send these free spending losers in Washington a message that they will understand NOW.
1) Stop all large-scale purchases such as new cars appliances ECT.
2) Write or e-mail elected officials we are not going to allow this and we will vote you out of office in the next election.
3) Cut back on all discrepancy spending, such as eating out, going to the movies, vacations, ECT. Rent DVDs or get free at library, eat at home stay local, enjoy your back yard.
4) Do home repairs you if possible, general how to repair instructions can found on line. If not hire friends or local services.
5) Lower monthly costs by cutting extras e.g. Cable TV has expanded coverage, and cell phone plan extras not needed. Back to basics.
6) Boycott any service providers using Illegal aliens, these people and employers are not paying taxes causing you to pay twice once for there services and second the costs of the illegal’s free health care and the Welfare costs for all there anchor babies. You are also paying by increased school, and local taxes.
7) Cut your own lawn ,boycott the landscapers using these illegal’s and if you need outside help use a teenager, yes there are still some willing to work .Check with a Niebuhr or the local bulletin boards at your supermarkets ECT.
8) Stop investing in stocks and save more by purchasing CD money markets, stable value mutual funds ECT., at least until the market stabilizes. Buy some Gold or long term securities.
9) Pay down debt; refinance mortgages to fixed lower interest rates if applicable.
10) Stop all charitable donations, since Washington is spending so much of are money let them pay. Also, stop charitable donations to any church or Temples supporting or harboring tax evading Felon Illegal Aliens.
11) Make contributions even if small to organization that supports your views on the above.
12) Cancel all subscriptions to newspapers like Newsday that push and support Illegal Immigration and socialized philosophies, also try to boycott there advertisers.
This doesn't appear to have much to do with the news-bomb that started the thread. I call something a news-bomb when someone drops in, dumps off a link, and leaves. There's no commentary. But I read the piece, and it doesn't seem like it deserves a call to action. The idea that bailing homeowners out of loans that will bankrupt them deserves a response on the level of this is crazy. Essentially, you are saying we need to punish someone out there by driving our economy into a depression. Am I getting that right? What else does the prohibition of durable goods purchases do to an economy?
Who is actually punished by this? Will your home retain its value if 20% of the houses in your neighborhood go into default? If you become upside down on your own home, will you spend as much? Will you improve your home if you are just keeping the value where it's at? Will you make plans for retirement.
There seems to be a lot of knee-jerking going on. Not much careful thinking.
Actually, I think I qualify for Obama's plan and I will spend time looking into it this weekend. Right now my debt to income ratio is beyond 55% because of mortgage, school debt, and credit cards. So have at it! Say nasty things to me! I'm lazy or something negative like that - but I might end up with a much lower interest rate. Giddyup!
I read the article. One of the struggling "homeowners" they interviewed has a mortgage where she pays "interest only." HOW IS THAT OWNING A HOME? Except for some tax breaks, she might as well be a renter because even she admits if they won't make a change in the loan for her she will never have any equity in the home. A mortgage like that should be illegal!
Right now my debt to income ratio is beyond 55% because of mortgage, school debt, and credit cards.
I think what they take into account is the mortgage payment vs. gross (before taxes) income, not the rest of it. The goal is to lower mortgage payments to 31% of gross income.
This doesn't appear to have much to do with the news-bomb that started the thread. I call something a news-bomb when someone drops in, dumps off a link, and leaves. There's no commentary. But I read the piece, and it doesn't seem like it deserves a call to action. The idea that bailing homeowners out of loans that will bankrupt them deserves a response on the level of this is crazy. Essentially, you are saying we need to punish someone out there by driving our economy into a depression. Am I getting that right? What else does the prohibition of durable goods purchases do to an economy?
Who is actually punished by this? Will your home retain its value if 20% of the houses in your neighborhood go into default? If you become upside down on your own home, will you spend as much? Will you improve your home if you are just keeping the value where it's at? Will you make plans for retirement.
There seems to be a lot of knee-jerking going on. Not much careful thinking.
Actually, I think I qualify for Obama's plan and I will spend time looking into it this weekend. Right now my debt to income ratio is beyond 55% because of mortgage, school debt, and credit cards. So have at it! Say nasty things to me! I'm lazy or something negative like that - but I might end up with a much lower interest rate. Giddyup!
This doesn't appear to have much to do with the news-bomb that started the thread. I call something a news-bomb when someone drops in, dumps off a link, and leaves. There's no commentary. But I read the piece, and it doesn't seem like it deserves a call to action. The idea that bailing homeowners out of loans that will bankrupt them deserves a response on the level of this is crazy. Essentially, you are saying we need to punish someone out there by driving our economy into a depression. Am I getting that right? What else does the prohibition of durable goods purchases do to an economy?
Who is actually punished by this? Will your home retain its value if 20% of the houses in your neighborhood go into default? If you become upside down on your own home, will you spend as much? Will you improve your home if you are just keeping the value where it's at? Will you make plans for retirement.
There seems to be a lot of knee-jerking going on. Not much careful thinking.
Actually, I think I qualify for Obama's plan and I will spend time looking into it this weekend. Right now my debt to income ratio is beyond 55% because of mortgage, school debt, and credit cards. So have at it! Say nasty things to me! I'm lazy or something negative like that - but I might end up with a much lower interest rate. Giddyup!
I_Love_LI_but had it right, you need to exclude all other debt. All they care about is your mortgage to gross income ratio. To me it sounds like you gloating a bit about being in huge debt and probably getting a bail out. Not sure if I'm reading in b/w the lines correctly, if I am I hope you get jack, If I'm not then I apologize.
"The reckless lending practices in states like Florida, California and Nevada that were the epicenter of the housing crisis are no longer driving up the nation's delinquency rate. Instead, the foreclosure crisis now is being fueled by a spike in defaults in states like Louisiana, New York, Georgia and Texas, where the economies are rapidly deteriorating and thousands are losing their jobs."
Hard to feel much sympathy... What is wrong with renting something they could afford?! If they were not willing to buy an overpriced home, prices would not have gotten this high for the rest of us! All that would happen if these people lost their homes, is that they would be forced to rent. Its not as if they will be sent to debtors prison.
Hard to feel much sympathy... What is wrong with renting something they could afford?! If they were not willing to buy an overpriced home, prices would not have gotten this high for the rest of us! All that would happen if these people lost their homes, is that they would be forced to rent. Its not as if they will be sent to debtors prison.
"WHY" should they "settle", when someone is giving them something for "free"...meaning, NO PERSONAL OBLIGATION ?
Since people, in general, have seemed to have lost their expectation of being punished, FOR ANYTHING, AND they know there is going to be a hand-out SOMEWHERE, whether it be from the Federal Government, State Government, County Government, Town Government.
You have a good idea there...MAYBE debtors prison, would be good to bring back ?
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This is kind of puzzling
