A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
I would rather have him say:"I have a fixed rate mortgage I can easily afford, I don't do HELOCs so I don't really care..."
Kieth,Just wait until squaters start breaking into the wrong houses!RayNLA
DON'T YOU MISS ALL THOSE FUKTARDS AND FAUX NEWS EXPERTS THAT WERE RUNNING AROUND IN 2006 AND 2007 CLAIMING THAT "IF YOU DON'T SELL, YOU HAVEN'T LOST MONEY!!!"DOPES!!!SUZANNE!!!ANON!!!SWANNY!!!
If you like the Iraq war you're going to LOOOOVE the war in Iran:Oil Rises to Record on Concern Iran Supplies May Be DisruptedIsrael is going to spark this one off for the US and it will be up to the US to do all the dirty work. Hey, if we're lucky it won't even set off WWIII!Do any of you morons understand what is at stake yet? Do you understand that the "war on terror" is all bull? The lies of Iraq weren't enough:Robert Greenwald's Uncovered: The Whole Truth About The Iraq WarAnd you idiots still haven't worked out that 9/11 was carried out by criminal elements in our own government with the assistance of Mossad:Dr David Ray Griffin: 9/11 Should The Truth Be Revealed Or Concealed?It's all been laid out in plain words in the Neoconservative's blueprint for American hegemony, Project for a New American Century : Rebuilding America's Defenses. You won't learn about this stuff on your boob tube or in a newspaper rag. You need to do a little research of your own. Project for a New American CenturyI know, I know, it's hard to believe that the paragon of virtue, the United States is run by power hungry monsters but don't be shocked. Power hungry, ruthless individuals often rise to positions of power in governments and their goals typically do not coincide with the goals or needs of the population at large.
No more home equity loans to buy toys with.The get rich quick scheme is over. Put a fork in the false economy created by bush.
I am still amazed at all the people I know that STILL THINK their home has not lost value, meanwhile all home around them are on the market for 30% less than what they paid and bank owned homes are everywhere.Long way till reality I guess.
The foreclosure rate on FIXED mortgages is starting to go up in NV,CA,AZ also Mark - when you owe 400K and your house is worth 300K, walking away becomes an option. . .news story this morning:http://news.yahoo.com/s/bw/20080630/bs_bw/0827b4091032364818;_ylt=AuwV2QS64RTRIAxQitkwyUas0NUEBUYING AND BAILING . . .is the new term today - people who are underwater, buy a cheap house while their credit is still good, move into it, and bail from their old more expensive house. . .back to the bank for another house.
That cartoon fits so well here along the coast.I almost don't recognize Huntington Beach any longer ... more and more forsale signs, rows of trucks and boats forsale!And to think the carnage here is just getting started as well!
It's very clear to me just how irresponsible and immature many of these house debters are ... this will just add more fuel to an already out-of-control bond fire. Mark in San Diego said... The foreclosure rate on FIXED mortgages is starting to go up in NV,CA,AZ also Mark - when you owe 400K and your house is worth 300K, walking away becomes an option. . .news story this morning:http://news.yahoo.com/s/bw/20080630/bs_bw/0827b4091032364818;_ylt=AuwV2QS64RTRIAxQitkwyUas0NUEBUYING AND BAILING . . .is the new term today - people who are underwater, buy a cheap house while their credit is still good, move into it, and bail from their old more expensive house. . .back to the bank for another house.
When transients or other "undesirables" start milling around the neighborhood more, and houses start being broken into, and defaced ... then they will wake-up.I'm seeing more-and-more transients here along the coast, which makes sense, because more people looking for shelter are being "displaced" and looking for shelter elsewhere.This is going to get so bad folks, and people - especially here along the coast - who really believe this is "their problem and not ours" are soon to find out just how false that statement is. David in SoCal said... I am still amazed at all the people I know that STILL THINK their home has not lost value, meanwhile all home around them are on the market for 30% less than what they paid and bank owned homes are everywhere.Long way till reality I guess.
Health-care and the other service-related sectors, cannot make-up for the huge loss in tax dollars due to sinking wages and continual lay-offs.We'll start seeing more and more higher managerial positions being cut because this area of the work-force is not doing the bulk of producing goods and services - companies are going to get leaner and meaner.
Put 'value' instead of 'price' and we just might have a winner.
MOZILOGATE JUST KEEPS ROLLING ALONG:Florida sues Countrywide over mortgages By Jim Loney MIAMI (Reuters) - Florida sued mortgage lender Countrywide Financial Corp (CFC.N) for predatory lending practices on Monday, alleging the company at the center of the U.S. mortgage crisis made subprime loans to people who could not repay them. The Florida attorney general filed the lawsuit, which names Countrywide Chief Executive Angelo Mozilo as a defendant, in state court in Broward County, Florida.Last Wednesday, officials in Illinois and the company's home state of California also sued Countrywide. On the same day, shareholders approved the company's takeover by Bank of America Corp (BAC.N).A spokesman for Bank of America, which is expected to complete its planned acquisition of Countrywide in July, declined to comment on the Florida lawsuit.The state alleged the company gave subprime loans to borrowers who could not repay them, loaned money at higher subprime rates to people who qualified for prime rate loans, and engaged in other deceptive marketing and unfair trade practices, contrary to claims in its 10-K filings."Defendants did not adhere to its underwriting standards, allowed the origination of 'no documentation or reduced documentation' subprime loans and failed to ensure that borrowers had sufficient capacity to repay such mortgage loans," the complaint said.Countrywide made subprime adjustable rate loans "when they knew or should have known that the borrowers would not be able to repay the loan once the initial ARM period expired," the state claimed.The complaint also alleged Countrywide told customers the interest rates were fixed when they were not, misrepresented to borrowers the amount of time the initial fixed interest rates would be in effect, and misrepresented how much payments would increase when the initial rate expired."It is unthinkable that a company would try to take advantage of someone's dream of homeownership," Florida Attorney General Bill McCollum said in a statement."Florida homeowners who are trying to protect their homes from foreclosures shouldn't have to worry about their mortgage brokers or lenders unfairly profiting at their expense."Florida and California are among the leaders in mortgage defaults.(Editing by Carol Bishopric/Jeffrey Benkoe)MOZILO WE ARE WATCHING...
Post a Comment
Enter your email address:
Delivered by FeedBurner