[Insert Obama under the bus joke]
If the house was still worth $800,000 or even $850,000, would she be able to afford the payments?
Of course not.
Obviously she wants the investors/depositors who put up the original $800,000 for her to buy the house to just walk away from their money.
My husband has been working for our local transportation authority for over 31 years (no, he has never been a bus driver). I have been working for over 31 years as well. We know the salary range of bus operators. How did this bus operator get a loan of that high amount and why would they take it? Stupidity.
800k!!?? Cheap construction. Ugly. And the house does not even have a garage!
What’s this world coming to when taxpayers are bailing out bus drivers living in million dollar homes.
B.S.!!! The "lenders" were just following the guidelines FORCED on them by the Democrats' "community re-investment act" and thuggery by the Democrats other creation created to enforce that community re-investment act- ACORN.
I'll also bet that this "poor bus driver" and her husband weren't exactly honest on their income declaration form either.
Anyone with HALF a brain, would quickly realize that an $800,000 mortgage is FAR beyond what a bus driver making $50,000 a year could possibly afford, even at 5% low interest mortgages spread over 50 years. A $1400. mortgage payment is over 50% debt loading... INSANE!!! After taxes and utilities alone, there isn't any money left for food on a bus drivers wage.
NO DAMN WAY should taxpayers be forced to bail out idiots like these. Bankruptcy is their best option, and perhaps a forced money management course.
Morons.
This is why we’re to mortgage our future?
First off. Is she a plant? Bus driver $800,000 home? That’s crazy right there. Who else lives with them besides children. Where does she live and is she an illegal?
How’s Obambi going to spin this one?
“the lender made the purchase all too easy.”
Horsesh*t. As a Realtor, I sat in on closings — the lenders laid it out in plain English to the purchasers as to what to expect.
It’s about something sadly lacking now in American society — personal responsibility.
Cry me a frickin river.
Anybody that buys a house that expensive on a bus-driver’s salary should be fined by the American taxpayers for sheer stupidity....
NOT rewarded by a bailout on the taxpayer’s dime.
The parasites, Obama voters.
This house is ideal for the octo-mom
Yesterday, we were in the lunchroom while CNBC was discussing the "Obama mortgage plan" and she up and said to me out of the blue...
"Every time I see an interview with a family who is "losing their home", I see a home that's a lot nicer than mine. I see cars in the driveway that are newer than mine. And I pay all my bills. Why do I owe these people a DAMN THING!"
She was shaking at the end.
I was tempted to make a gentle comment about how America voted for Obama knowing full well he was going to do this.
One thing stopped me.
The fact that McCain was going to do just about the exact same thing.
ping to be PO’ed later
Is it just my conspiracy mind that feels this whole thing is beyond just a person who chose (stupidly) to live above his means -— and banks who allowed it? Who was driving the banks? If Acorn, or the like, was involved — who pressured them? Part of a ‘grand design’?
ping
This is LUDACRIS. I make $110,000 and wouldn’t even think of even asking for a loan of $800,000. Because I CAN NOT AFFORD IT......
Since her mortgage is worth more than her home, I gave her a lowball mortgage of $675,000. Now at 1% for 30 years, that still comes out to $2171 per month. I wonder if she could afford that?
Disgusting.
Irresponsinility obviously pays.
How the heck does a bus driver get an $800,000 home?