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 Foreclosure mess: who should take responsibility? New
- Forum: LiquidLounge
Date: Mar 17 2008, 18:01 GMT
From: julesagogo
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http://www.cnn.com/video/#/video/us/2008/03/17/dnt.naked.man.store.whtm?iref=mpvideosview
The people who sign the (1) interest-only Note and Mortgage (2) without coverage for loss of income or the unscrupulous lenders who do not tell them how their payment will increase?
I saw this guy living in a nice motor home and thought he could be in a worse situation. It's definitely a step down from 2700SF or whatever two people had to have, but it's a lot more than a lot of people have. We are spoiled here. |
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 George W Bush... decker New -
 He was the guy who said the best way to help the economy was to go to the mall. Well people did and now they are broke. <NT> BoatCaptain New -
- Best POTUS EVER!!!! decker New
 This is hard for me to say.... ezduzit New -
- Well of course it's their faults... "we" want it ALL don't we? decker New
 Yes! julesagogo New -
- We've been overextending ourselves since the tech stock and i.t. boom... pure and simple. decker New
- The borrowers of course... Pinecricker New
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- I'm certain you know that many municipalities are indeed trying to shut down payday loan shops... rlhartman New
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- Many municipalities are trying to shut down strip clubs too... Pinecricker New
- Maybe the FED should bail their asses out too? decker New
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 Sounds like they didn't contribute enough to Sen. Waxman's reelection fund <NT> rlhartman New -
 Oops, make that REP Waxman. For now, anyway. <NT> rlhartman New
- They tried to outlaw PayDay Lenders on Tenn,,,,,, but the language the lawyers wrote would have made banks illegal. BusteronBuffalo New
- The people and institutions whose names appear on the paperwork, and NO ONE ELSE!!! rlhartman New
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 But in some markers, "creative" mortgages are the only way most people can afford a home lrcable New -
- How come nobody complains about the price of housing in NYC? rlhartman New
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- Median home prices for NYC area 462 grand, LA area 593 grand for 4th qtr 2007 lrcable New
- Do you know anyone from NYC? They complain about it constantly <NT> snowwrestler New
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- But, as I said, those conditions in NYC, SF, etc. haven't spawned hearings and media coverage... rlhartman New
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- Mostly by my estimations... it's more about folks getting their chips called in. decker New
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- The crisis isn't about foreclosures, it's about hedge funds and 401k's lrcable New
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- Exactly -- it's about preserving financial relationships snowwrestler New
- The difference is that in NYC, the value really hasn't changes lrcable New
- I used to live in NYC. I left in large part because it was expensive. Chrisj New
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- Starving actor, huh? Really? snowwrestler New
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- Yup. Chrisj New
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- Cool story -- isn't it funny how tech ability creates new paths snowwrestler New
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- Yeah, it is. Chrisj New
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- Me too julesagogo New
- Maybe those markets were overpriced -teledave- New
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 Your last sentence - "I think they should take the loss, not me" - sort of sums it all up, eh? <NT> rlhartman New
- That's just another way of saying that they can't afford what they're buying. Chrisj New
- I have to agree here. Chrisj New
- had to go to AOL to get the right CNN link. julesagogo New
- Real question: how can we limit the damage. The answer is not necessarily the same snowwrestler New
 The people who voted for GW Bush Stifler New - Before blaming the individuals, one should step back and ask: Why only in the USA? Riv New
- Ronnie Rayguns... russellfork New
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- I would have to disagree. The Economy was in the toilet when Ronnie took over lrcable New
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