now where have i heard that before... hmmm...
oh yea: "Gemeinnutz geht vor Eigennutz"
found on the edge of all these coins:
Posted on 11/22/2009 9:09:19 AM PST by SeekAndFind
The economy and the stock market may be recovering from their swoon, but more homeowners than ever are having trouble making their monthly mortgage payments, according to figures released Thursday.
Nearly one in 10 homeowners with mortgages was at least one payment behind in the third quarter, the Mortgage Bankers Association said in its survey. That translates into about five million households.
The delinquency figure, and a corresponding rise in the number of those losing their homes to foreclosure, was expected to be bad. Nevertheless, the figures underlined the level of stress on a large segment of the country, a situation that could snuff out the modest recovery in home prices over the last few months and impede any economic rebound.
Unless foreclosure modification efforts begin succeeding on a permanent basis — which many analysts say they think is unlikely — millions more foreclosed homes will come to market.
“I’ve been pretty bearish on this big ugly pig stuck in the python and this cements my view that home prices are going back down,” said the housing consultant Ivy Zelman.
The overall third-quarter delinquency rate is the highest since the association began keeping records in 1972. It is up from about one in 14 mortgage holders in the third quarter of 2008.
(Excerpt) Read more at nytimes.com ...
It is always a hopeful moment when the musicians start playing music on the Titanic.
Bwarnie Mae and Schmucky Mac debacle returns...Part Deaux!
The only people I hear this from are those boiler rooms calling themselves "Financial Management" companies, trying to sell me their in-house OTC junk. They want to be holding my money when the music stops.
but more homeowners than ever are having trouble making their monthly mortgage payments, according to figures released Thursday.
Well, which is it?
What does anybody expect, what with unemployment continuing to rise? The solution is more disposable income, which comes from jobs and low tax rates. Unfortunately, we are going the wrong way.
We need a cash for mortgages program before it’s too late.
How do you “modify” someone 40 or 50% underwater? The banks are already toast, that modification would be their end. And why does the modification need to be done? If they had a 30 year with money down, they could afford payments, right? How many of these are ALT A or Option Arm loans with Heloc loans on top? How many of these people pulled thousands out of their ATM/House to pay for their stuff. The people who took these loans are liars and fools, and the banks are predatory villains who knew these suckers would default eventually—and then sold those timebombs as AAA investments to the entire world. Now the pigmen, the realtors, the suckers, and the Feds all want to prop that housing bubble up with my taxes so they can prevent the biggest fail in US history. When housing goes back to x3 (or less) of gross yearly income, the houses will sell, and the bottom will begin.
Nothing has ever worked to improve our economy except tax increases and government sanctioned wealth transfers.
if my taxes weren’t going to be 65% next year, i might have been able to pay my mortgage.
hmm... if i don’t pay my taxes, i’ll be able to pay my mortgage AND have money left over for food and clothing.
wow!
and if the dems get sticky about wanting ‘their’ money, they’d just put me in government housing. schweet!
Complaining about your 65% tax rate? How unpatriotic of you according to VP Biden. Pay your fair share man...sheeeesh!!!!!!!! and stop complaining so much! /sc
now where have i heard that before... hmmm...
oh yea: "Gemeinnutz geht vor Eigennutz"
found on the edge of all these coins:
Actually the Dow Jones stock valuations have been going up. But this is because their profits have improved because they have been cutting costs by laying off less productive and less experienced workers. This is one reason we have a “jobless recovery”.
During the past three decades almost all of the new jobs created early in a recovery have been created by small companies. But with Obama’s promised tax increases on “the rich”, small business is dead in the water. This is the main reason for our “jobless recovery”.
It’s not that “banks just won’t lend”, there are just no prospective new businesses to lend to. And almost anyone would would normally be considered a good credit risk doesn’t want the banks’ money, because they are trying to get out of debt, not take on more.
Hard to pay the mortgage when you’ve been fired.
That is exactly what is going on with my business. I would actually like to hire someone-I need a machinist and a process operator, but will not. I already have enough burden and paperwork as it is. Nor am I presently interested in growing my business significantly larger than it is. I have no debt.
Ask me again in 2012, however. I may become suddenly motivated.
there are just no prospective new businesses to lend to.
“I have no debt”
So I take it that you wouldn’t refinance your house in order to buy a flat screen TV.
“The way he figures it, he no longer has a problem, Government does.”
Well said. I wish the rest of us could say that. Somebody once said that “when the government fears the people you have democracy, but when the people fear the government, you have dictatorship.
The “uncertainty” that people like your brother seek to escape is the constant threat of capricious action by the crooks and political radicals that now control our federal government. Your brother wants to be free to use his talents to benefit himself by creating goods that other people would find beneficial to themselves. What the feds want to do is cut themselves in, and the more they get the more they’ll want.
We’ll all be free to vote with our feet only after our states reassert the rights reserved for them by the Constitution.
What's a "TV"?
You mean the big All-Obama-All-The-Time box thing? Why would I do that
[You mean the big All-Obama-All-The-Time box thing?]
Yeah. This guy makes Mussolini look like Calvin Coolidge.
Back to home ownership, mortgages can be hazardous to your health. See ...
http://www.freerepublic.com/focus/f-news/2393182/posts
“ACORN Dumped Sensitive Documents as Probe Began, Private Investigator Says. ....ACORN was acting as an agent for Citibank, Roach charged. “They had mortgage information for homeowners ... who were in foreclosure, who were in default.”
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