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09-30-2008, 07:03 AM
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Senior Member
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Join Date: Jul 2008
Location: South Jordan UT aka Snobsville
702 posts, read 515,750 times
Reputation: 89
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10th in the nation for foreclosures
Yah!!!!! UGH...again keeping up with the Jonesis
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09-30-2008, 04:35 PM
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Senior Member
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Join Date: Jul 2008
Location: East Millcreek
540 posts, read 405,256 times
Reputation: 89
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Good to see you back  But uh, getting back to the subject at hand, what can you do? It's just in most people's natures here, for some reason. |
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09-30-2008, 05:46 PM
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Senior Member
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Join Date: Jul 2008
Location: South Jordan UT aka Snobsville
702 posts, read 515,750 times
Reputation: 89
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what to be foreclosed on because they don't read the fine print that their mortgage will jump up all these points in like 5-7 years??? I dont feel sorry for these people who foreclose unless the circumstance is way beyond their control....on the loan document it states that your mortgage will be this much for that many years and then the low will go away and u will be paying some awfullly expensive rate....and as for the joneses??? I have seen it first hand one buys a mercedes the other one has to buy a porshe and so forth..be yourself who cares what u drive or live in as long as u are comfortable
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10-01-2008, 05:33 PM
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I love my Jeep!
Status:
"finally cold"
(set 5 days ago)
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Join Date: Nov 2006
Location: In a house, by a Lake
1,339 posts, read 314,613 times
Reputation: 913
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lol....I bet ya that one of the other nine is CA.....I was working in banking there when all that "creative' financing was going on.....
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10-01-2008, 06:21 PM
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Moderator
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Join Date: May 2008
Location: Owasso,Oklahoma
3,384 posts, read 1,692,171 times
Reputation: 881
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Yes and I would guess Nevada or Florida was in the top ten too
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10-02-2008, 01:27 PM
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Senior Member
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Join Date: Jul 2008
Location: South Jordan UT aka Snobsville
702 posts, read 515,750 times
Reputation: 89
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Yup it is...but again i don't feel sorry for the people that can't read a simple contract....especially for a freaking house..thats just stupid...
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10-02-2008, 05:41 PM
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Moderator
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Join Date: May 2008
Location: Owasso,Oklahoma
3,384 posts, read 1,692,171 times
Reputation: 881
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Never have been fond of that "creative financing" If you don't have the money for a the house unless you start out with the low interest with the ARM, you probaly won't that that much more in the 3-5 years when it goes up. You might make at your job in that next 3-5 years, but not enough to justify having a mortage that doubles your payment when the interest shoots up. Fixed interest rate is the way to go.
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10-02-2008, 06:20 PM
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I love my Jeep!
Status:
"finally cold"
(set 5 days ago)
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Join Date: Nov 2006
Location: In a house, by a Lake
1,339 posts, read 314,613 times
Reputation: 913
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Exactly. To get the best deal with anything, you need to have the best credit, and take care of it over the years. I wish schools still taught financial ed, like they did when I was still in school.
I made sure to teach my kids, and it's paid off for them. And, I'm very proud to say, my oldest just paid of her car loan in July, and is now looking for her 1st house. She'll be 25 in Nov.
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10-02-2008, 06:33 PM
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Moderator
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Join Date: May 2008
Location: Owasso,Oklahoma
3,384 posts, read 1,692,171 times
Reputation: 881
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Quote:
Originally Posted by VC dreamer
Exactly. To get the best deal with anything, you need to have the best credit, and take care of it over the years. I wish schools still taught financial ed, like they did when I was still in school.
I made sure to teach my kids, and it's paid off for them. And, I'm very proud to say, my oldest just paid of her car loan in July, and is now looking for her 1st house. She'll be 25 in Nov.
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Thats true. Credit cards didn't come so easily back then either. Great job....to your daughter. I have a daughter 25 that will be 26 in November. (november was a great month) She got a condo a couple years ago and has struggled a little with payments because she is still going to school, but I told her back then..never do the adjustable rate mortgage. My brother and his wife are having problems now because of that. Their house payment went from $800 to $1,400 in just a few months and its still going up! |
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10-03-2008, 07:01 AM
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Senior Member
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Join Date: Jul 2008
Location: South Jordan UT aka Snobsville
702 posts, read 515,750 times
Reputation: 89
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Yup November is great..thats when I was born..hahahahah
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