Big 3 Beggars and Reality... (mortgage, earthquake, deed)

[MJ1986]

Originally Posted by blackhillsdreams

Yep, Since I had to short sell my house, almost all of my credit cards have lowered my limits to my balances (I don't care, I don't use them anyway) and some have doubled my minimum payments. SO FAR, the rates have stayed the same because other than the house issue, I've NEVER missed a payment or even been late on ANYTHING.

I don't remember who said it, but I think it was Jefferson who said "Any government that is strong enough to give you everything you want, is strong enough to take everything you have" As for helping out the little people or average Joe's, I don't think that was ever the plan at all. I think big government and big business would love to see us all struggling, barely getting by, mentally defeated. We'd be easier to control that way...

Really? My credit cards haven't changed a bit... I wish you luck BH...luckily my credit cards haven't changed...I have a tens of thousands worth of credit, but won't push them to the limits!

[Chris19]

I am in a similar boat as MJ1986 and have not seen the credit limits change, but then again the balances are low relative to the limits. I generally do not allow myself to carry more than $300 balance on a given card so I can pay them off right away.

I would agree with blackhillsdreams second paragraph about the government. There are quite a few loonies in the government who are not out for the average Joes and should be deported or removed from office in my opinion.

[blackhillsdreams]

Originally Posted by MJ1986

Really? My credit cards haven't changed a bit... I wish you luck BH...luckily my credit cards haven't changed...I have a tens of thousands worth of credit, but won't push them to the limits!

It's ok. I'd rather NOT use credit for anything other than an emergency anymore anyway. Prior to losing my old job, I had scores near 800 with a spotless payment history. I had to stop paying on the house in order to get an approval to short sell it or I'd have been bankrupt by now. As it was, I had to move to another city to find work because there are zero jobs where I was living. I lived off of my savings, sold a few things on ebay, kept positive, and continued to pay my other bills. I was litterally down to my last $100 before I got my first check at my new job but I wasn't late on anything and we're squeeking by. It will all work out in the long run.

So in the interest of the topic, when do the next round of bail outs begin and apart from the Big 3 getting funds, what (if anything) will the common folk ever get? Nothing.

[SDHomesteader]

Have you both had to Short Sale your house?? Thats why Blackhills limits have gone down, they now see him as a credit risk. We short sold our house in Council bluffs as well and we've only one credit card at the time and its limit went down also, and the interest rate up as well.

In the past 20 years I would say, the Credit Score issue Now is the Number one priority in anyones life (along with Cell phones, Ipods and that cursed TV that takes up two walls). I'm right up there with BHD, I looked around my house last night and said what the hell do I need all this junk for. I have boxes upon boxes of stuff that still isn't unpacked in the basement here from when we moved up here, A 10x20 storage unit still in COuncil Bluffs full of Crap. And I haven't needed any of it in the past two years we've been up here. Yeah I've missed a couple of books here and there but Good lord what do I need all that crap. I can't take it with me when I croak, It won't fit in the coffin (I measured, just no way its all gonna fit in that coffin with me), I would have to build a pyramid in the middle of Harding County to take it all with me. (now wouldn't that be a sight LOLOL)

Cables off now, What the heck do we need that for?? TO distract me from getting anything done with repeats after repeats and stuff I have on Tape or DVD that they are just now showing. Waste of money now in my opinion lol. Internet we'll keep, mainly cuz its a vast storehouse of knowledge (and vast storehouse of bull hooey too lol) and we can use it to keep in contact with people and the so called news websites (as biased as they are, its still some kind of news lol).

I don't even remember whats in half the boxes in the basement LOL. But if I haven't needed the stuff in 2 years, whats the point in keeping it. Maybe this spring I will have one hell of a Yard sell and sell my junk to other people so they can store it for me LOL.

I like the old saying (bumper sticker on my car way back when too) " I love my country but fear my government"

[SDHomesteader]

Originally Posted by blackhillsdreams

It's ok. I'd rather NOT use credit for anything other than an emergency anymore anyway. Prior to losing my old job, I had scores near 800 with a spotless payment history. I had to stop paying on the house in order to get an approval to short sell it or I'd have been bankrupt by now.

So in the interest of the topic, when do the next round of bail outs begin and apart from the Big 3 getting funds, what (if anything) will the common folk ever get? Nothing.

Same Situation here, we had to stop making payments too, ended up they way it all happened, we now have a 6 month (thats how long the short sale took) delinquency on the house payments on our credit report.
And what gets me is we had 110 thousand dollar mortgage on it, they Shortselled it for 46 thousand dollars. Why the hell couldn't they have done something for us to lower anything on that mortgage for US instead of taking over a 50 thousand dollar loss on the house. They wouldn't work with us for nothing.

The next Bailout?? Well Hmmmmmmmmm. Grocery Stores Next??? The computer industry???? But like I said before, Now that its happened, whens it gonna end????

[blackhillsdreams]

As I understand it, short sales typically settle for about 45 to 50% on the dollar because the lenders know #1 that foreclosure costs can be $30,000+ when you consider the proceedings, then property upkeep, taxes, cutting the yard, then eventually paying the cost of listing or auctioning it later IF there is even a viable buyer. This by the way is on topic as it pertains to the bail out and the primary cause of the economic melt down.

My house went for a complete steal. I had over $30,000 in upgrades in it on top of what I'd paid. They guy that got it is a blessed man for certain! I was lucky in that it closed on the 90th day of being late so mine only shows 60 days on my history.... I know if I hadn't done the upgrades and left it average, it would never have moved that quickly. I'm thankful to be out of it and on to new things.

[Jammie]

You know what bothers me about the housing bailout besides the top dogs getting rich? That money should be used for people to be able to stay in their house~their ONE house. They had a story on 60 Minutes Sunday evening and they were talking to a gal who was an acupuncturist. She had bought 6 properties during the boom and it sounded like some were apartment buildings. The host even asked her if she could understand why people didn't feel sorry for her being in this predicament and she said she was looking at properties all day every day and just didn't have time to read the small print or pay attention to how far in debt she was getting.

Now I'm sorry, but that's pure greed and I hope people like her don't see a dime of that money. If things would've gone the other direction, she'd be filthy rich right now. Anyway, just my thoughts.

[Jammie]

Homesteader, I keep thinking about your friend with the addiction and financial problems. This is the only thing I can come up with, but I'm wondering if BusySocialWorker could get some info for you for your location.

There's something called "Voc Rehab"~vocational rehabilitation. If your friend is too much into the bottle and depression that he's not even working, someone could get in touch with them. They may be able to help him get into treatment and may be able to help him with housing like in a halfway house or something. It's not a long term solution to his financial problems, but if he can just get the addiction out of the way, he could still lead a productive life. Since booze is a depressant, it's just driving him down deeper.

You may want to send a DM to Busy or look for phone numbers in the RC area. Let me know if you have any luck with this.

[blackhillsdreams]

Originally Posted by Jammie

Now I'm sorry, but that's pure greed and I hope people like her don't see a dime of that money. If things would've gone the other direction, she'd be filthy rich right now. Anyway, just my thoughts.

I agree with you 1000%. Also, very good advice for SD to help his friend out.

[DannyBanany]

Originally Posted by Jammie

Homesteader, I keep thinking about your friend with the addiction and financial problems. This is the only thing I can come up with, but I'm wondering if BusySocialWorker could get some info for you for your location.

There's something called "Voc Rehab"~vocational rehabilitation. If your friend is too much into the bottle and depression that he's not even working, someone could get in touch with them. They may be able to help him get into treatment and may be able to help him with housing like in a halfway house or something. It's not a long term solution to his financial problems, but if he can just get the addiction out of the way, he could still lead a productive life. Since booze is a depressant, it's just driving him down deeper.

You may want to send a DM to Busy or look for phone numbers in the RC area. Let me know if you have any luck with this.

Jammie is right about Vocational Rehab. It's a great program that helps people get back on their feet whether it be after alcohol problems, drugs, or even just a long medical leave. I'd really look into it!