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Agreed. Just because a bank tells says, you have been approved for a loan up to 400k, does not always mean you can afford a 400k home.
I know there were some people who lost their jobs and lost their homes.....I am not talking about that.
If you purchased a home with no money down for an amount you knew was going to be a struggle to pay.....and have an ARM loan.......that's what I am talking about.
That has nothing to do with the 1.2 million that were current on their payments and then lied to by the banks to get foreclosures.
It's already a done deal. The banks settled with many of the homeowners because THEY were in the wrong. Not the homeowners.
but that has nothing to do with the millions that bought homes they couldnt afford
like the guy in 07 on cnn crying that he was going to lose his house:
we all felt sad for him.......
until he said it was a 700k house.......
until he said his income was only 45k.....
the most he should have quailifed for is 180k
Where in Bazzoro world do banks loan unqualified people large amounts of money? And above all why did the rating agencies bless those scams with a AAA rating? Asses need to go to jail now. It wasn't just deadbeat home owners who got screwed, millions of responsible people where bilked out of trillion of dollars and that includes many investors. .....while a handful walk away with billions and a bunch of that from tax payers.
Where in Bazzoro world do banks loan unqualified people large amounts of money? And above all why did the rating agencies bless those scams with a AAA rating? Asses need to go to jail now. It wasn't just deadbeat home owners who got screwed, millions of responsible people where bilked out of trillion of dollars and that includes many investors. .....while a handful walk away with billions and a bunch of that from tax payers.
My roommate is in his early 30's. I'm pretty sure he could care less about the 80's and 90's. He's not "dumb" because he lost out during the crash. Millions of Americans lost out. In fact, he's one of the smartest people I know and I'd put his resume up against yours any day of the week.
If he is in his 30's then why does he care? Anyone that young will be more than OK in the long term. Also, you can rebound very easily if you re balance correctly. Did he? He should have made more than he lost in the 3 years after the crash, if he re balanced correctly.
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And for me, I'm so hypocritical and ignorant that Wall St. hired me
Weren't you just an intern for a few months? You never exactly worked on wall street.
You are hypocritical enough that you have admitted that you hire part time employees so that you don't have to pay for insurance, but you go on to complain about other people who do the same thing.
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As usual, the lies and half truths are debunked.
And again, you post that article like it is the bible and you don't even understand what it says. It says that banks refused to re-negotiate mortgages for people who were going to lose them and then people blamed banks. That isn't exactly a bank's fault.
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Originally Posted by jmking
Where in Bazzoro world do banks loan unqualified people large amounts of money? And above all why did the rating agencies bless those scams with a AAA rating? Asses need to go to jail now. It wasn't just deadbeat home owners who got screwed, millions of responsible people where bilked out of trillion of dollars and that includes many investors. .....while a handful walk away with billions and a bunch of that from tax payers.
If you buy a $2,000 TV with a credit card and can't afford it, is that Best Buy's fault?
If he is in his 30's then why does he care? Anyone that young will be more than OK in the long term. Also, you can rebound very easily if you re balance correctly. Did he? He should have made more than he lost in the 3 years after the crash, if he re balanced correctly.
Weren't you just an intern for a few months? You never exactly worked on wall street.
You are hypocritical enough that you have admitted that you hire part time employees so that you don't have to pay for insurance, but you go on to complain about other people who do the same thing.
And again, you post that article like it is the bible and you don't even understand what it says. It says that banks refused to re-negotiate mortgages for people who were going to lose them and then people blamed banks. That isn't exactly a bank's fault.
If you buy a $2,000 TV with a credit card and can't afford it, is that Best Buy's fault?
You know what the hell I'm talking about. You're not talking to a kid. I'm talking about large sums of money. When I was your age I had to prove I was credit worthy and prove it over time. I still posses the my first credit card that I earned before you where born. Of course the terms are different.....
No. Democrats don't help people succeed. They help herd more into poverty. That's exactly what has happened under Obama's presidency.
Hogwash. Still, you said that Democrats keep people poor because otherwise they wouldn't get their votes. That translates to: if those people become successful under our watch, then they won't vote for us. We need to keep them poor.
Literally, pretty much the dumbest thing I've read in a while. Not surprising, though.
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Additionally, those receiving public assistance have a birth rate 3 times higher than those who don't. Guess which demographic all those extra children will be joining as adults after they've grown up in poverty.
Well, apparently, every super successful person on this forum came from poverty and built themselves up on their own, so I'm going to guess that all of those children will follow suit. It'll be nice to have so many more self-made successful people around trumpeting their wisdom!
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