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Ray of Hope For Queens Homeowner (BAAAARF!)
NY Post ^
| 2/19/09
| Lorena Mongelli
Posted on 02/19/2009 10:31:34 AM PST by thefactor
Mohammed Khoda bought his Queens home at the peak of the real-estate market, and now that "everything is crashing," he's hoping President Obama can save him from foreclosure.
"It was our dream to get a home in New York City," the Bangladeshi immigrant said. "And now we only hope to be able to live here."
Khoda, 59, bought his two-family home on 160th Street in Jamaica for $700,000 in 2006.
(Excerpt) Read more at nypost.com ...
TOPICS: Business/Economy; Culture/Society; Miscellaneous; News/Current Events
KEYWORDS: mortgage; newyorkcity; queens; unreal
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This made my blood boil reading it on the subway this morning. This guy took out 2 loans. One at 7.25%, the other at 10%!!!
A $700,000 house! He makes $45,000/year in New York City! Now he has "hope" that the 0bama plan will help him out.
Do not read this if you have high blood pressure.
1
posted on
02/19/2009 10:31:34 AM PST
by
thefactor
To: thefactor
here's the big guy now!
2
posted on
02/19/2009 10:33:45 AM PST
by
thefactor
(yes, as a matter of fact, i DID only read the excerpt)
To: thefactor
Is his wife’s head still attached to her body?
Just askin....
3
posted on
02/19/2009 10:34:32 AM PST
by
Badeye
(There are no 'great moments' in Moderate Political History. Only losses.)
To: thefactor
$700,000 No sympathy whatsoever.
4
posted on
02/19/2009 10:34:48 AM PST
by
WayneS
(Sarcasm Alert !!)
To: thefactor
It’s always the guy in the sweater vest. ALWAYS.
5
posted on
02/19/2009 10:35:54 AM PST
by
Puppage
(You may disagree with what I have to say, but I shall defend to your death my right to say it)
To: thefactor
Oh Great! I can help this smolt keep his $700,000 house while I and my five other family members live in our $60,000. Note, I said SIXTY THOUSAND.
I’m fuming.
6
posted on
02/19/2009 10:36:28 AM PST
by
autumnraine
(Freedom's just another word for nothing left to lose- Kris Kristopherson VIVA LA REVOLUTION!)
To: Badeye
Just askin’...
He IS a US citizen, right? Tell me only US citizens can qualify for bailout money.
7
posted on
02/19/2009 10:38:53 AM PST
by
swain_forkbeard
(Rationality may not be sufficient, but it is necessary.)
To: autumnraine
i told you not to read it if you had medical issues!
it's disgusting. there really are no words.
8
posted on
02/19/2009 10:39:43 AM PST
by
thefactor
(yes, as a matter of fact, i DID only read the excerpt)
To: swain_forkbeard
Why, how xenophobic of you! Off the the Obama re-education camp with you!
(chuckle)
9
posted on
02/19/2009 10:40:04 AM PST
by
Badeye
(There are no 'great moments' in Moderate Political History. Only losses.)
To: thefactor
He’s saying: “Bend over all you stupid homeowners who pay their mortgages on time! Obama and me are going to stick it to you!!”....
To: Puppage
don’t forget the Sean John hat! it’s probably a fake and was made in a basement in the bronx.
11
posted on
02/19/2009 10:44:32 AM PST
by
thefactor
(yes, as a matter of fact, i DID only read the excerpt)
To: thefactor
Yeah. Sure. Only made 45K.
So, after taxes, with a family, living in New York, say taking home( so to speak ), maybe, 30K....he bought a 700K house, and now he wants us infedels to pay it off for him.
Who does he think he is, Secretary of the Treasury?
12
posted on
02/19/2009 10:46:53 AM PST
by
Leisler
To: AngelesCrestHighway
Screw the banks. If they were stupid enough to give a $700,000 loan to a guy who makes $45,000 a year, they deserve to go out of business.
Something doesn't add up here....
A 700,000 30 year loan at 7.5% = 4894.50 a month payment. 4894.50 x 12 = 58,734 a year in mortgage payments, or 13.734 a year more than this guy claims to make.
I smell fraud, and utter stupidity on the part of the reporter here.
13
posted on
02/19/2009 10:46:54 AM PST
by
SENTINEL
(SGT USMC GWI)
To: SENTINEL
A 700,000 30 year loan at 7.5% = 4894.50 a month payment. 4894.50 x 12 = 58,734 a year in mortgage payments, or 13,734 a year more than this guy claims to make.
14
posted on
02/19/2009 10:48:38 AM PST
by
SENTINEL
(SGT USMC GWI)
To: SENTINEL
the article said his payments were 5,200/month which is over 60,000/year!
he did have a tenant who lived there as well, but as soon as the tenant was unable to pay rent, BAILOUT!
15
posted on
02/19/2009 10:49:41 AM PST
by
thefactor
(yes, as a matter of fact, i DID only read the excerpt)
To: thefactor
Fools and their money are soon parted reunited.
16
posted on
02/19/2009 10:51:08 AM PST
by
dfwgator
(1996 2006 2008 - Good Things Come in Threes)
To: thefactor
is the press TRYING to fan the flames of anger by posting stories about idiot hard luck cases????
17
posted on
02/19/2009 10:53:31 AM PST
by
silverleaf
(Freedom's just another word for "nothing left to lose")
Comment #18 Removed by Moderator
To: silverleaf
you should read the comments at the bottom of the story. most telling him to go back to wherever he came from.
19
posted on
02/19/2009 11:05:03 AM PST
by
thefactor
(yes, as a matter of fact, i DID only read the excerpt)
To: Puppage
Yes, I was thinking that. There must be some kind of sweater vest rule that we don’t know about.
20
posted on
02/19/2009 11:05:17 AM PST
by
La Lydia
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