Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Being prudent, paying our bills on time, worried about our credit rating is a joke. I feel like I should walk away from our house and join the ranks of the sheeple that are to ignorant to take care of themselves. You start to feel like the minority. Lets reward even more failure. We are sure setting a good example for this next generation. RP
I got a bailout too (mortgage dropped by 40% in trial run and likely to even be better terms at end of 90 day trial), and I still can't stand his policies.
OP, why are you thanking BO instead of the rest of us who are really the ones bailing you out of your mortgage? You do know that it's not really Obama Money that you are using, right? It's OUR money.
Aren't a lot of folks still defaulting on their government re-do loans (because they can't really afford the house in the first place)?
Silly me...we made a budget including only one income...just in case. We've saved money like crazy people....just in case. We're paying off the mortgage early to add in even more security...just in case. We don't have any other debt so if we lose our main income we can make it on minimum wage jobs...just in case. I don't think we qualify for a bailout...we've been too responsible.
It's too bad someone richer than the OP couldn't have come in with their savings to buy the home on the cheap and make it much nicer than the OP could ever afford, even with the mortgage mod. Eventually, they will end up in foreclosure anyway or walk away. A mortgage that high is likely a very expensive home. Those homes will lose more relative value in the next couple of years than the cheaper ones. These folks will probably walk away when they're upside down.
I never thought I would be saying this but he is THE MAN! We were falling behind on the mortgage for a few months since my business as virtually died. we could not survive with with only 1 income so we went for the obama plan. we were paying over $3200 a month on out mortgage but we went for a loan remod and got it dropped to under $2000.
Good for you! Glad to hear this.
Just ignore the bitter Repubs though. Just the way they are. That's why the GOP is sinking. It's just so much ignorance, it's not funny. But what funny is seing them getting all worked up about something they don't even understand
this reminds me of when bridges or buildings get named after some politician who actually had nothing to do with any of it. everything should be called taxpayer highway, taxpayer stadium, taxpayer overpass, etc. let's give credit where credit is due.....
our country is NOT going to turn around if we keep rewarding failure. the homeowner should live in what they can actually afford and those banks should have to eat the losses, but instead they foist them on the taxpayers. the incentive should be on saving, production, and growth- not subsidizing overpriced homes in a declining market. this is just a dead-end street for the economy.
this government is creating a playing field of INEQUALITY which is going to bite it in the butt eventually.
The only reason I got a bailout was because it was available. Just like the mortgage interest deduction which is basically subsidization of homeownership, I'm enjoying the moral hazard that I don't even need. Fortunately, all of my assets are either in retirement accts or "off the books" in gold, silver, etc.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
