tag:blogger.com,1999:blog-18675105.post2504710463363377717..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: A Special HousingPANIC Message to the Toxic Mortgage Gamblers with 3% Teaser Mortgages Resetting to 10% - STOP STRESSING - WALK THE FU*K AWAY AND RENTbloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger37125tag:blogger.com,1999:blog-18675105.post-37603051848853551462007-09-17T23:25:00.000+01:002007-09-17T23:25:00.000+01:00Pre-Forclosure Appliance Salehttp://fortmyers.crai...Pre-Forclosure Appliance Sale<BR/><BR/>http://fortmyers.craigslist.org/gms/423080764.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-82886828148457953602007-09-17T06:32:00.000+01:002007-09-17T06:32:00.000+01:00wow, tough day at the shit eating job?You got all ...wow, tough day at the shit eating job?<BR/><BR/>You got all of that from what I said. I'm white, and stupid?<BR/><BR/>How stoned are you? Get a job.<BR/>The foreclosure won't hurt you....<BR/><BR/>Am I stupid because I won't hire failures?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-72133192131717482132007-09-16T20:37:00.000+01:002007-09-16T20:37:00.000+01:00Quote from Turdy:##### I'd hire a known sex off...Quote from Turdy:<BR/>#####<BR/> I'd hire a known sex offender and not bat an eye. I won't hire anyone who has ever walked away from financial responsibility.<BR/><BR/> I employ or cause to be employed about 3000 people. I do not hire people with foreclosures. I do not hire people with a track record of not paying their bills. I do not own rentals, but if you have a foreclosure I'll all but bet that the security deposit and the rent will be at least 50% higher than for those people who do not have a foreclosure. It'll be as legal as a pet deposit and higher pet rent is.<BR/><BR/> So tell everyone to give up their future. Remember that those who walk away will make up about 3% to let's say 25% of their general peer group. I have a vast pool of labor to pick from without picking one of the foreclosure sucks.<BR/><BR/> They shouldn't walk away. They should sell the damn toys, get a second or third job and carry on as a citizen. I'm not the biggest employer out there, but I think just like they do.<BR/> One of my peers was walking down a hallway in his office when he overheard someone say they had bought their 4 year old kid the $500 desk at BabyGap. He fired the guy on the spot. While some of you are stupid, while some of you tolerate stupid, some of us aren't and don't.<BR/><BR/> September 14, 2007 5:40 PM<BR/>Anonymous said...<BR/>#####<BR/><BR/>Turdy is a prime example of how stupid, ignorant, pompous-ass piece of shit the Americano is today. Honor yourself as a responsible citizen my ASS !!!! You damn fool-of-the-hill Americano white-trash-piece of shit...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-20646772266523509972007-09-15T18:25:00.000+01:002007-09-15T18:25:00.000+01:00sex offenders tha are on the street are highly sup...sex offenders tha are on the street are highly supervised. Many are just guys who were peeing n the street. I know of a springbreak city that tags young women as sex offenders for flashing. <BR/> <BR/>As far as personal financial responsibility is concerned, if you have a foreclosure you can piss right off. I ate plenty of Ramen just so I could pay my mortgage and JCPenneys. I expect others to do the same. It's a moetarty consideration. Take the house out of it and call it what it is; a loan. No house is involved in the equation, a mortgage is all that's involved. If you went back on such a promise to someone that took such a chance on you, I won't emply you. Period.<BR/><BR/>No stocks, all owned by me. I live like my worst year, not my best. Lots of savings, not a debt in the world. Average wage in my town is $9.50 for a construction worker. I pay the secretaries $20ph and go up from there. I pay for the finest, I pay the finest , and I garner respect from the finest. <BR/> I haven't lost an employee to a foreclosure yet. They seem to listen when I tell them something. And I told them three years ago what would play out. Those on variables flipped to fixed last year. We don't have a single variable loan under my roof. Needless to say my company newsletters are not about the picnic or jamie's new grandson exclusively. They have stuff about mortgages, student grants, new laws that will affect you, how to budget....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-50378151275159697892007-09-15T17:02:00.000+01:002007-09-15T17:02:00.000+01:00"I want FBs to feel maximum pain. "They had no ski..."I want FBs to feel maximum pain. "They had no skin in the game, and now we're supposed to feel sorry for them? As far as I'm concerned, I want them fighting tooth and nail to keep their homes, and spending every last cent to their name. Then they're free to mail in the keys.<BR/><BR/>Yes, I'm evil that way."<BR/><BR/>-----------------------------------<BR/><BR/>Boy they have definitely opened the freak show today. You sir are just an old fashioned A$$hole. <BR/><BR/>I would never wish for anyone to be enslaved to crooks and swindlers. If anyone should experience this fate, it should be Mozilo and the other Wall Street hacks that caused this. I take no pleasure in seeing a family lose their home, and people like you can continue to spout off, but the old karma thing is a commin. You WILL get yours, so sit back relax and wait....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-22263744721378800702007-09-15T15:26:00.000+01:002007-09-15T15:26:00.000+01:00I say we should let the sheeple bleed to death, th...I say we should let the sheeple bleed to death, then pick apart their carcases to reap a handsome profit. This country is all about getting one over on the other guy. F*ck them before they f*ck you. It's a dog eat dog jungle out there. Go buy a gun today - it's your second amendment right. If someone so much as looks at you funny, make them eat lead. That's the only way this country's ever gonna be great again. Ron Paul for president!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-85982437785127200982007-09-15T11:50:00.000+01:002007-09-15T11:50:00.000+01:00I'm looking at this a totally different way.FB's -...I'm looking at this a totally different way.<BR/><BR/>FB's -- DON'T WALK AWAY!<BR/><BR/>Stay in your overpriced sh!tboxes and cash in every bit of savings you have -- 401Ks from work, pensions, everything -- just to stay in your house.<BR/><BR/>Why? Because then when you inevitably lose your home anyway, you will have nothing to fall back on and then this little financial lesson will stick with you for the rest of your miserable lives, and your's children's.<BR/><BR/>I want FBs to feel maximum pain. They had no skin in the game, and now we're supposed to feel sorry for them? As far as I'm concerned, I want them fighting tooth and nail to keep their homes, and spending every last cent to their name. Then they're free to mail in the keys.<BR/><BR/>Yes, I'm evil that way.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-55388870478593540442007-09-15T03:35:00.000+01:002007-09-15T03:35:00.000+01:00When will the FB's start pimping their adolescent ...When will the FB's start pimping their adolescent daughters out to make the mortgage payments?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-53185673678595500442007-09-15T02:25:00.000+01:002007-09-15T02:25:00.000+01:00I came pretty close to buying in 2004...not for in...I came pretty close to buying in 2004...not for investment, but because I wanted my own house. I think there are a lot of people out there that bought for that reason. Add to that the priced out forever panic, and I think its arguable that a lot of decent, normal people got sucked into this mess along with the scumbags. A little greedy...a little dumb...a little mystified by the arcane process...every story is different.<BR/><BR/>For DECADES, buying a house was the right thing to do once you reach a certain age, and this bubble went on for a long time, and fell during the period when I was supposed to be buying. It was damn hard for me to stay out during the run-up...despite my bullshit alarm ringing full blast. I'm an unconventional soul, too. The pressure on your average Joe that gives a crap what his peers think must have been enormous. <BR/><BR/>Everyone has their areas of expertise, and for the rest we are dependant on the expertise of others. A few of us were lucky in finding this blog. Many had only the advise of 'professionals'. We could see here how ludicrous the advice was, having it presented in context, but when you have no frame of reference, bullshit can go down pretty easy.<BR/><BR/>The flippers are going to walk. The bankers that made these decisions are going to take their bonuses and walk. Why the hell should the people that just wanted a freakin house to live in be enslaved for the rest of their lives? They'll get their credit trashed, and be broke for a few years. I think that's plenty of hurt to make them learn from the mistake.<BR/><BR/>The government doesn't need to bail anybody out...the invisible fist of the market will deal with the ultimate bagholders, the banks and the stupid CDO investors.<BR/><BR/>To current homedebtors, I echo Keith: Walk away your overpriced prisons people! The longer you hang on, the longer you are a slave. The government is not going to do anything but help you stay enslaved. The Fed cannot help you at all. You f*cked up, maybe got greedy, definitely got swindled, but you didn't hurt anybody that didn't have it coming. Learn your lesson and start rebuilding your life. You just participated in a 2 million car pileup, and some people were killed. It's done, can't be undone, so let it go.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-74590917480472495532007-09-15T01:44:00.000+01:002007-09-15T01:44:00.000+01:00Get ready to write a check out to Jose the illigal...Get ready to write a check out to Jose the illigal immigrant strawberry picker who bought a $700,000 house. Those checks will go a long way to keep Jose in his comfortable mansion and give the Wall Street bankers a big bonus this Christmas. Thanks Hitlery Clinton.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-29760575902075546282007-09-15T00:13:00.000+01:002007-09-15T00:13:00.000+01:00"Anonymous said... Here's how the bailout should w..."Anonymous said... <BR/>Here's how the bailout should work:<BR/><BR/>1. Get rid of the Foreclosure/Short Sale debt forgiveness tax.<BR/><BR/>2. Make it against the law to put a bad mark on someone's credit rating for walking away from a house. The bank owns the asset and gets all the equity (or lack thereof).<BR/><BR/>Simple. Little guy learns a little lesson. Big guy learns a big lesson."<BR/><BR/>I could not agree more. That would IMMEDIATELY shift responsibility back on the shoulders of the banks. Then they would have to reprice risk to account for the fact that THEY would lose big if they handed out money like water. All of a sudden, even the juicy profits of commissions and closing / repackage fees would be weighed against larger losses. <BR/><BR/>Let me add 3 more to the list.<BR/><BR/>3. Change the GAAP to make banks have to book ACTUAL profits and not imagined profits on interest that has not been paid yet.<BR/><BR/>4. Make off balance sheet CDO conduits transparent so they cannot be hidden from shareholders. <BR/><BR/>5. Make CDO brokers responsible to CDO investors for losses. They will not be able to shift risk without knowing it is a good risk.<BR/><BR/>6. Eliminate GAAP allowances that make it ok to "Mark to Myth" if they can't market a security. They would no longer offer products that were ridiculous if they had to disclose that crap was actually worth.....well crap.<BR/><BR/>This would OVERNIGHT make the industry reformed. It would temporarily cause more pain in the housing market, but would DIRECTLY effect the people responsible instead of enriching the criminals on the backs of the person shafted by the banks. Homedebtors would then have a once in a lifetime "reset button" where they could then purchase at much better price, and SOLID financing, or rent. <BR/><BR/>They need to also make the same rules for the credit card companies. This would again give them incentive to only make loans to people who they know are a good credit risk. Again, would cause some initial pain, but the long term health of the economy would be solid since growth would be actual growth and not sustained by low wages leveraged to high debt. This would also reform a lot of the hedge funds, since banks would not be willing to fund garbage hedge funds which then run up the market with their high leverage. <BR/><BR/>All around would tie our economy to real wealth instead of artificial leverage backed by worthless paper.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-24160012898636700702007-09-14T23:57:00.000+01:002007-09-14T23:57:00.000+01:00"turdly said... I'd hire a known sex offender and ..."turdly said... <BR/>I'd hire a known sex offender and not bat an eye. I won't hire anyone who has ever walked away from financial responsibility.<BR/><BR/>I employ or cause to be employed about 3000 people. I do not hire people with foreclosures. I do not hire people with a track record of not paying their bills. I do not own rentals, but if you have a foreclosure I'll all but bet that the security deposit and the rent will be at least 50% higher than for those people who do not have a foreclosure. It'll be as legal as a pet deposit and higher pet rent is.<BR/><BR/>So tell everyone to give up their future. Remember that those who walk away will make up about 3% to let's say 25% of their general peer group. I have a vast pool of labor to pick from without picking one of the foreclosure sucks.<BR/><BR/>They shouldn't walk away. They should sell the damn toys, get a second or third job and carry on as a citizen. I'm not the biggest employer out there, but I think just like they do.<BR/>One of my peers was walking down a hallway in his office when he overheard someone say they had bought their 4 year old kid the $500 desk at BabyGap. He fired the guy on the spot. While some of you are stupid, while some of you tolerate stupid, some of us aren't and don't."<BR/><BR/>-----------------------------------<BR/><BR/>Are you for real? Your handle of Turdly must be very telling. You would rather hire a convicted SEX OFFENDER than a person with a forclosure. Well, I would love to be your corporate attorney, because I would have no end to work. <BR/><BR/>If your hiring practices are really this way, then you must have some pretty stupid employees. Lets do the math here. Hold on to an asset that is losing money by the day into the thousands, only to be a slave to an adjustable rate mortage to feed the riches of the Mozillo's of the world. That is not the type of person I want managing anything at my company other than maybe the kitchen. That is like saying that Bush is correct in continuing to let troops die in Iraq on a war that is obviously not going to bear any kind of fruit. I want an employee that can realize a loss quickly, cut the loss, and then move on. <BR/><BR/>Sounds to me like the best and brightest don't work for you. Please tell me what company you own so I can avoid that stock like the plague...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-19258093747383905782007-09-14T20:33:00.000+01:002007-09-14T20:33:00.000+01:00Kieth you're the new Suzanne. You have researched ...Kieth you're the new Suzanne. You have researched and have told the sheeple that they can afford it. I can sse the blogs a year from now; 'but Kieth told me to walk away.'<BR/><BR/>We'll call you 'Ennazus' from now on. The antithesis of Suzanne.<BR/><BR/>But honey, Keith researched it and said we could walk away.'Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-64760197880807978082007-09-14T20:09:00.000+01:002007-09-14T20:09:00.000+01:00next bubble is gold and silver stocksnext bubble is gold and silver stocksAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-46280291857423966972007-09-14T19:18:00.000+01:002007-09-14T19:18:00.000+01:00Well, I see your point, and don'tdisagree...just h...Well, I see your point, and don't<BR/>disagree...just how are they going<BR/>to rent?<BR/><BR/>You are broke enough to lose your house; not like you've been saving<BR/>for a move, right? You are in trouble<BR/>for a while financially, so basically<BR/>you are broke. <BR/><BR/>Landlords want good credit, first,last, deposit, pet deposit<BR/>of about 200 dollars (don't tell<BR/>me you didn't have a pet or two in<BR/>your "home of your dreams")..<BR/><BR/>And because of Children's Service<BR/>regulations, you have to have separate bedrooms for yourself and<BR/>children past 3 or so, separate<BR/>bedrooms for kids of different <BR/>genders past same age...<BR/><BR/>So a lot of families are going to<BR/>be moving in with family who already has a home, and if they<BR/>are in an apartment, lots of sneaking and hiding going on: <BR/>STRESS for everyone, especially<BR/>kids.<BR/><BR/>Those who can't make those kinds<BR/>of arrangements will live in their<BR/>cars, on the streets, or in shelters. <BR/><BR/>Do what you have to do people.<BR/>It isn't only excrement which will<BR/>hit the fan; illusion will and <BR/>reality will out.<BR/><BR/>Grandma PKKAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-27321342695600108132007-09-14T18:51:00.000+01:002007-09-14T18:51:00.000+01:00anon 9:55, were you sleeping when Bush gave the bi...anon 9:55, were you sleeping when Bush gave the big press conference on supporting a bail out. I think Bush might be a Republican?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-59324359943311802432007-09-14T18:01:00.000+01:002007-09-14T18:01:00.000+01:00Another option aside from walking away might be to...Another option aside from walking away might be to get rid of the combined $1000+ car/suv payments, get your s*** together, stop blowing your income on crap, and figure out how to net more money.<BR/><BR/>It doesn't help the rest of us when you screw everyone in your community. Grow up, pay your bills, and unload your unnecessary s*** before the other folks in your situation.<BR/><BR/>For those who haven't screwed up, check out Craig's list for the deals!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-18811425659613898702007-09-14T18:00:00.000+01:002007-09-14T18:00:00.000+01:00Here's how the bailout should work:1. Get rid of t...Here's how the bailout should work:<BR/><BR/>1. Get rid of the Foreclosure/Short Sale debt forgiveness tax.<BR/><BR/>2. Make it against the law to put a bad mark on someone's credit rating for walking away from a house. The bank owns the asset and gets all the equity (or lack thereof).<BR/><BR/>Simple. Little guy learns a little lesson. Big guy learns a big lesson.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-84250113500760899512007-09-14T17:40:00.000+01:002007-09-14T17:40:00.000+01:00I'd hire a known sex offender and not bat an eye. ...I'd hire a known sex offender and not bat an eye. I won't hire anyone who has ever walked away from financial responsibility.<BR/><BR/>I employ or cause to be employed about 3000 people. I do not hire people with foreclosures. I do not hire people with a track record of not paying their bills. I do not own rentals, but if you have a foreclosure I'll all but bet that the security deposit and the rent will be at least 50% higher than for those people who do not have a foreclosure. It'll be as legal as a pet deposit and higher pet rent is.<BR/><BR/>So tell everyone to give up their future. Remember that those who walk away will make up about 3% to let's say 25% of their general peer group. I have a vast pool of labor to pick from without picking one of the foreclosure sucks.<BR/><BR/>They shouldn't walk away. They should sell the damn toys, get a second or third job and carry on as a citizen. I'm not the biggest employer out there, but I think just like they do.<BR/> One of my peers was walking down a hallway in his office when he overheard someone say they had bought their 4 year old kid the $500 desk at BabyGap. He fired the guy on the spot. While some of you are stupid, while some of you tolerate stupid, some of us aren't and don't.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-26767288809787469102007-09-14T17:02:00.001+01:002007-09-14T17:02:00.001+01:00What did bankers/loan originators think would happ...What did bankers/loan originators think would happen when things get a little difficult for a borrow who they let buy a home with 0% down and financed closing costs????<BR/><BR/>Even with my primitive caveman mind it is clear what will happen.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-68073772899734922212007-09-14T17:02:00.000+01:002007-09-14T17:02:00.000+01:00Great blog. All of these articles are making me wo...Great blog. All of these articles are making me wonder what the next great investment opportunity is going to be. <BR/><BR/>I sat back working my 9-to-5 and saved money during the dot-com bubble and the housing bubble that was fueled by the former. <BR/><BR/>I'm curious - where is the next bubble going to be?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-72545732205127503212007-09-14T17:01:00.000+01:002007-09-14T17:01:00.000+01:00Why do the women and children get saved? I mean, ...Why do the women and children get saved? I mean, if you really think about it, they are probably less likely to make it in the world- the woman ends up turning tricks to get by and the kid gets put in an orphanage. In fact, it is probably more humane to just put their heads under the water.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-55019895933149502242007-09-14T15:58:00.000+01:002007-09-14T15:58:00.000+01:00“This president is way out of touch...Just like hi...“This president is way out of touch...Just like his Old Man was...remember when Bush Senior was walking through the Super Market, and he was at the check out counter, and was truly amazed at the bar code reader”<BR/>---------------<BR/>Thanks, Borkafatty. Blew coffee out my nose after reading that reminder of loser Bush 1! What – didn’t this happen 15 years after bar code readers first came out?<BR/><BR/>Kinda like when a reporter asked Lamar Alexander (another republican), when he was campaigning for the presidential nomination years ago, how much a gallon of milk, a loaf of bread, and a dozen eggs cost.<BR/><BR/>The bozo didn’t even have a clue! This is just one indicator of how far out of touch this country’s politicians are. And they are supposed to be representing us?<BR/>WTF?<BR/><BR/>Try popping this question to any one of the presidential candidates today and let’s see what kind of an answer you get.<BR/>-MammothMammothhttps://www.blogger.com/profile/15331079890390629462noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-8007525152098707682007-09-14T13:01:00.000+01:002007-09-14T13:01:00.000+01:00Di Bush say on TV last night that Jobs were being...Di Bush say on TV last night that Jobs were being created in Iraq...??<BR/><BR/>This president is way out of touch...Just like his Old Man was...remember when Bush Senior was walking through the Super Market, and he was at the check out counter, and was truly amazed at the bar code reader...Jobs in Iraq...Paleeese!<BR/><BR/>Oh and FB'S walk..no wait Run!!!Billhttps://www.blogger.com/profile/06623291271325261181noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-40151001825089644612007-09-14T12:30:00.000+01:002007-09-14T12:30:00.000+01:00Why should they? Just wait it out afew month until...Why should they? Just wait it out afew month until the bailout is finalized. Most likely what will happen is the loans will be forgiven up to the portion of the value. So if FB took out a $500K loan and his house is worth $425K, presto the loan is now $425K and will be fixed for 30 years at 6%.Anonymousnoreply@blogger.com