You've got a point about those beads. It wouldn't be the first thing I was wrong about. ;)
Posted on 01/29/2006 2:17:44 PM PST by Uncle Sham
Don't leave us to foreclosure Sunday, January 29, 2006 Here in a community full of ruined homes, it takes no imagination to predict an epidemic of foreclosures that could devastate families, cripple the recovery of greater New Orleans and strain the nation's economy. If your flood insurance payout isn't nearly enough to cover your mortgage, you wonder if you'll have to abandon your unlivable home. If you look down the block at a dozen other damaged houses and know that your neighbors are in the same bind, you understand the fear of losing your neighborhood to blight. If you travel daily past block after block of empty, flood-marked houses, you understand how large the hole in our economy could become. This explains why U.S. Rep. Richard Baker is not giving up on his proposal for a federally backed buyout of flooded-out homeowners and small business owners. He wants Congress to create a corporation that would release Hurricane Katrina's victims from their mortgages, sell bundles of property to developers and help get storm-ravaged land back into commerce.
(Excerpt) Read more at nola.com ...
LOLOLOL!
You are a real hoot tonight. ;o)
Anybody interested in what's going on in NOLA for Mardi Gras, etc., without the female dogs spoiling it, look here:
http://forums.egullet.com/index.php?showforum=132
I don't have a dog in this fight. Nor a pile to cover.
My Mississippi family and friends and my Louisiana family and friends won't be affected in any particular way whether the Baker plan passes or not.
All I am is -- like you -- an American taxpayer.
If you don't like the "whining and extortion" -- too bad. The law is what the law is, whether you like it nor not.
Thanks for sharing.
I've got a cold and I'm all hopped up on Sudafed, which I had to SIGN for at the drug store because LAWYERS in the state legislature don't want crack heads to have them to make meth!
Lawyers, indeed...
Our stupid governor proclaimed Sudafed to be by prescription only.
Sudafed PE stinks.
I'm just gonna have to move home, I guess. ;o)
OH!
I hope you feel better very soon.
I don't remember saying it wasn't. It's the extracurricular whining and carrying on. You seem to be in favor of that.
I am beginning to think you are some kind of socialist or worse an "intelectual elite". Heck some of the stuff your coming up with, might even make you a borderline liberal. Of course if that were true, it would sure make a good story for the grandchildren.
I can see them now wide eyed, almost stricken with terror at the tale of "Grandpa and the liberal".
So ends my bedtime story. Goodnight
-----ROTFLMAO
You've got a point about those beads. It wouldn't be the first thing I was wrong about. ;)
The rules for Ch. 7 have been changed. You now have to come up with a repayment schedule when you file bankruptcy. Hurricane victims were not grandfathered out of the new laws, by the way.
New Orleans should never be rebuilt in the same low places. Nature will always reclaim the swamps, no matter what piddly levees we build. People should have considered that when buying property, and the rest of us should certainly NOT be expected to insure reconstruction there through any government insurance. How do we know that another hurricane won't hit NO next year, or five years or ten? It's a bad location for a city of any real size.
So why aren't Haley Barbour and the mayors of Pass Christian, Gulfport, and Biloxi on the tube every night pissing and moaning about "how bad it is". No--the ONLY parties that are seen doing that are Nagin and Blanco. And it has long passed the point of "diminishing returns" and has begun to "poison the water" of sympathy for New Orleans plight.
But, but, but..............IT"S THE LAW, so sez CB.
The government and the financial institutions have swallowed bigger frogs than that without as much as a hiccup. I don't know where they get the money. I guess it ends up in that figure with too many zeroes to count, the national debt, and the financial institution just charge the rest of the card holders with still higher interest rates.
Lenders have been awash in money and making all kinds of deals to make loans on houses, cars, and credit cards. I don't see New Orleans as a major deal. They probable have as many forclosures and defaults every year as N.O. would present.
so sez CB.
Nuff said
I think this is the problem: Suppose you bought a house for $100,000 and you put 10 percent down. Your mortgage is $90,000. Assume that you are fully insured with homeowner's insurance. The insurance company will pay you maybe $80,000 for the destroyed house -- but they don't pay you for the land. You still own the land. If you gave the $80,000 to the mortgage company, you still owe them $10,000. With no job and no way to pay it, the mortgagor can foreclose and take your land to get what you owe them.
My only point was that if someone is thinking about living in an area that is below sea level, by the ocean and has levees protecting their homes they should have flood insurance or don't live there, no excuses. If they didn't then don't blame anyone else because of the failure to mitigate any damages caused by any weather related situation where flooding can also happen. Maybe it was the winds that caused a surge that flooded the homes but it's not the governments responsibility to make everyone whole for them not being COMPLETELY prepared.
Actually, I am happy to discuss peoples' problems. NOLA is news, and the people there are coming off as greedy, whining jerks.
Sorry that those folk don't know you can't live in a bowl! I don't want to pay for their education. It is an old lesson...
Brain damage vs. Storm damage vs. drainage damage
***Brain damage that's you
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