Anybody Underwater on their Mortgage (score, laws, banks, deduction)
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There are MANY people and factions that we could lie the blame upon but the bottom line here, is that the elitists have control. Always have, always will.
This country is very ill and TPTB are to concerned now with being PC (and deepening their own pockets) that what needs to be done to correct things, will never get done.
You know, if the President and Congress really wanted to do something that would have helped Americans across the board . . . why didn't they quit kissing up the banks and put a ceiling on interest rates on credit cards? Why didn't they pass legislation that would ban credit card companies from suddenly, on a whim, raising interest rates when the cardholder had never missed a payment?
In my situation, I have medical bills on one card - a goodly sum. I was able to find a "deal" on a card several years ago at 3.99 % for life of loan!!! YEA!!! SO I have faithfully made those payments (more than minimum every month) and yet, what do I get? A notice saying that since CITIBANK has taken over this particular account, they are no longer honoring the terms of credit and are raising the interest rate to 17 % on my account.
My FICO score is high; I have never missed a payment on any credit card, loan, mortgage, etc . . . yet I have now received notices from 3 cards that they are arbitrarily raising my rates - just cause they can.
Plus, it used to be that we could deduct credit card interest on our tax returns.
So you tell me . . . one little piece of legislation - capping interest rates and allowing us to deduct the interest - would have helped many of us out here. But did Congress do that? HELL NO -because that would have been MEANINGFUL and the banking lobby has whined that they need all the FEES they can get off credit cards so Congress won't do a damn thing to impede the FINANCE SECTOR from gouging us all with insane usury rates.
chicagocubs, you have described why YOU have a problem. Why should I subsidize your retirement...maybe you don't get to retire, it's not a constitutional right. I'm 40+ yrs old and have never owned a home because I thought the pricing had gone crazy.
If the overall price level of housing drops it's a good thing. People won't have to spend a huge fraction of their income in debt service and can increase their quality of life. Recently some people made the choice to enter a contract to pay a ridiculous amount of money for their home, too bad. They were the ones running the prices up in the first place...
And it is MY fault you have not made financial decisions conducive to be a homeowner by age 40?!?!?
You know, if the President and Congress really wanted to do something that would have helped Americans across the board . . . why didn't they quit kissing up the banks and put a ceiling on interest rates on credit cards? Why didn't they pass legislation that would ban credit card companies from suddenly, on a whim, raising interest rates when the cardholder had never missed a payment?
In my situation, I have medical bills on one card - a goodly sum. I was able to find a "deal" on a card several years ago at 3.99 % for life of loan!!! YEA!!! SO I have faithfully made those payments (more than minimum every month) and yet, what do I get? A notice saying that since CITIBANK has taken over this particular account, they are no longer honoring the terms of credit and are raising the interest rate to 17 % on my account.
My FICO score is high; I have never missed a payment on any credit card, loan, mortgage, etc . . . yet I have now received notices from 3 cards that they are arbitrarily raising my rates - just cause they can.
Plus, it used to be that we could deduct credit card interest on our tax returns.
So you tell me . . . one little piece of legislation - capping interest rates and allowing us to deduct the interest - would have helped many of us out here. But did Congress do that? HELL NO -because that would have been MEANINGFUL and the banking lobby has whined that they need all the FEES they can get off credit cards so Congress won't do a damn thing to impede the FINANCE SECTOR from gouging us all with insane usury rates.
You know, if the President and Congress really wanted to do something that would have helped Americans across the board . . . why didn't they quit kissing up the banks and put a ceiling on interest rates on credit cards? Why didn't they pass legislation that would ban credit card companies from suddenly, on a whim, raising interest rates when the cardholder had never missed a payment?
In my situation, I have medical bills on one card - a goodly sum. I was able to find a "deal" on a card several years ago at 3.99 % for life of loan!!! YEA!!! SO I have faithfully made those payments (more than minimum every month) and yet, what do I get? A notice saying that since CITIBANK has taken over this particular account, they are no longer honoring the terms of credit and are raising the interest rate to 17 % on my account.
My FICO score is high; I have never missed a payment on any credit card, loan, mortgage, etc . . . yet I have now received notices from 3 cards that they are arbitrarily raising my rates - just cause they can.
Plus, it used to be that we could deduct credit card interest on our tax returns.
So you tell me . . . one little piece of legislation - capping interest rates and allowing us to deduct the interest - would have helped many of us out here. But did Congress do that? HELL NO -because that would have been MEANINGFUL and the banking lobby has whined that they need all the FEES they can get off credit cards so Congress won't do a damn thing to impede the FINANCE SECTOR from gouging us all with insane usury rates.
What a crock.
“Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of a pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money.”
Sir Josiah Stamp - Director of the Bank of England 1928.
"Give me control of a nation's money SUPPLY, and I care not who makes the laws." -- Mayer Amschel Rothschild
The banks create the money in our country, so they control congress and us. We get rid of the banks, we take our power back.
But unfortunately the citizens of our country are asleep and don't realize this. They are also unfamiliar with our monetary system, so it's unlikely we can take our power back.
In 1913, our country (and our government) gave up the right to create our own money and gave it to the banks. We have to take it back to fix this situation.
“Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of a pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money.”
Sir Josiah Stamp - Director of the Bank of England 1928.
"Give me control of a nation's money SUPPLY, and I care not who makes the laws." -- Mayer Amschel Rothschild
The banks create the money in our country, so they control congress and us. We get rid of the banks, we take our power back.
But unfortunately the citizens of our country are asleep and don't realize this. They are also unfamiliar with our monetary system, so it's unlikely we can take our power back.
In 1913, our country (and our government) gave up the right to create our own money and gave it to the banks. We have to take it back to fix this situation.
and the congregation said...AMEN!
but note, that slowly but surely this household is losing the need for a bank.
When you have people that aren't working, what good is cutting taxes?
Someone is going to have to gain some testicular fortitude in this country. There are many things, that MUST be changed and dealt with and until that is done, we will continue on a downhill spiral.
but note, that slowly but surely this household is losing the need for a bank.
After the Civil War, it was common practice to hide one's money. All those stories about Great Grandma hiding her $$ in a coffee can and digging a hole were NOT myth. Also, I was taught . . . invest in gold and silver and put it in the safety deposit box, cause you can always melt it down.
Maybe I should have followed that advice . . .
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