How did $80k a year afford a $550K house! If he has made the payment this far, my hat is off to him.
He makes $80,000 a year and says he has a healthy credit rating. The Saabs have rental income and they’ve paid off their car.
The couple also have renovated their home and spend $10,000 a year to send their two kids to Catholic school.
Sounds like the Frosts. Maybe this family can get free health care too under SCHIP.
WTF?? Words fail me.
Why can’t folks just not buy what they can’t afford? Sometimes I’ve just got to wonder how stupid people are.
Here is an idea. Put your kids in the public schools, sell your rental property and shut the F up. You are an idiot for borrowing a 100% on a loan and I don’t want to pay for your stupidity and lifestyle.
You buy a house for no money down, you deserve what you get. You bought the risk. You accept the consequences.
A half-million $$$ home with no money down........(shaking head and groaning)
“for a total of $3,400 in monthly payments.
He makes $80,000 a year “
.........Uhhhhh....No.
I make just over $80,000 per year and never in a million years would have expected that I could afford to pay a $550,000 mortgage with it.
Sorry bub, next time, take out a mortgage loan you can afford to pay back.
Now way this program is going to work.
Who qualifies?
How long do they get the subsidy?
Do they have to pay back the subsidy?
What a mess made messier.
You ever heard of renting, you greedy moron?
You don’t have to own a house, and I shouldn’t have to pay your mortgage to keep you in the lifestyle you haven’t earned.
I want my interest rate lowered too.
How do I find out if our mortgage is backed by Fannie or Freddie. My mortgage is with Countrywide. We have over $100,000 if equity. Our current interest rate is 6.5%. How do I get the knocked down to Obama’s rate of 4.5%.
Just a wild and crazy thought here, sell your home and rent an apartment. Invest the difference in getting those credit cards paid off.
You’ve got to be kiddin’!
Even if I made $100,000/yr., I wouldn’t buy a $500K home. Of course, that’s just me; maybe that’s why I’m not begging the President of the United States to bail me out of the mess I made FOR MYSELF!!!!!!!!!!!!!
Sounds like the perfect example of someone who SHOULD loose their home - in favor of one they might actually afford!!
Why is a reality-check for folks bad????
Bought a house they shouldn’t have been approved for...
$70k in CC debt
$10k renovation
But they have rental income and an $80k job.
Why and how is this a problem for the American tax payer?
He wants a ‘mortgage assist’ but in all reality it will go to helping him pay off his revolving debt. The house is not the problem here. I am guessing that the CC bills are in the $2k a month range. He doesn’t need mortgage help - he wants the government - i.e. the American people - to help him pay off his new kitchen, his surround sound, the XBox for his kids, etc. etc. etc.
Sickening!
I saw they are planning to charter Catholic schools in NY.
I can only imagine that the folks that are having difficulty are probably pulling their kids in such great numbers that they might soon overrun the public school system.
I bet the gubermnint is begging them to take the charter cash!
I hope that they don’t do it, but I doubt they will. If the Catholic schools do cave in to the charter plan I at least hope that they hold out for piles of money!! They probably won’t be able to teach religion.