Posted on 07/09/2007 8:28:47 AM PDT by BenLurkin
Edited on 07/09/2007 8:30:20 AM PDT by Admin Moderator. [history]
More than a quarter million black and Hispanic families are expected to lose their homes in the next few years due to foreclosure. For many, the financial trouble will be traceable to a mortgage they should never have been given.
Its their responsibility to be informed but if you get a poor real estate agent or a greedy one, along with the dream of owning your home can make for a disaster. Throw in a couple of problems like A/C failure or roof leak and your screwed if your in over your head.
Here all home sales must now stand inspection. All faults must be in writing, as does every real estate dealing. Buyer and seller negotiate on those and come to a written agreement. Often the sales price is adjusted accordingly.
So the Real Estate agent actually has little to do with representation, as that is taken care of via the above method.
Prior to the inspection law, except for State GIs or any Federally insured loan (FHA), only the seller was liable for not revealing any flaws in the structure, as well as the agent if he/she was privy to the information prior to the sale.
So, I see only holes in the fabric of your argument against the real estate industry. I think being so closely acquainted with attorneys, whom you seem to largely berate, has soured your outlook on the rest of the world. Unless you are actually involved in a specific field, how can you know anything about it’s mechanism?
We aren't. 'Rat Christopher Dodd and the rest of the democrats think only minorities are so lame-brained they need the "government" to take care and protect them from themselves.
Me: I don’t work. I left management a few years ago. Staying home with the “kiddies” is more important to me and hubby. Hubby handles bringing home the “bacon”. We are VERY comfortable. He does it for the money but he isn’t a shyster. He doesn’t hate his profession either
That’s wonderful for you. You are obviously very, very, very smug and self-satisfied about it all.”
You: I now understand why you feel so free to disparage the integrity of people engaged in a business about which you haven’t a clue.
Me: You need a course in reading and comprehension. Friends of mine engaged in it and left it because it is underhanded and sleazy. The requirements to enter are minimal. No college degree needed ... just a few credits, pass a state test, get a license to be an agent, work for a broker for about five years and then you too can be a broker and lie to folks. Yeah, no “clue” on what I am talking about - LOL!!!
You: Especially since your husband is a shyster lawyer.
Me: No. DH is NOT a lawyer. I never said he was a lawyer. Sheer hatred for me is even unbecoming for YOU! But heck, I don’t mind. As a mature person, I am not interested in the opinions of people like you. I avoid petty, people who have so much pent up hatred they can’t see or read straight.
If you’re not careful ... you’ll make the headlines for all the WRONG reasons ... get a grip on yourself. READ and COMPREHEND what people state.
No hubby isn’t a lawyer.
Yes, I don’t have to work.
yes, I am happy I can stay home with the “kiddies”.
We planned it that way.
You: That’s wonderful for you. You are obviously very, very, very smug and self-satisfied about it all.”
You: I now understand why you feel so free to disparage the integrity of people engaged in a business about which you haven’t a clue.
Me: You need a course in reading and comprehension. Friends of mine engaged in it and left it because it is underhanded and sleazy in New Jersey. The requirements to enter are minimal. No college degree needed ... just a few credits, pass a state test, get a license to be an agent, work for a broker for about five years and then you too can be a broker and lie to folks. Yeah, no “clue” on what I am talking about - LOL!!!
You: Especially since your husband is a shyster lawyer.
Me: No. DH is NOT a lawyer. I never said he was a lawyer. Sheer hatred for me is even unbecoming for YOU! But heck, I don’t mind. As a mature person, I am not interested in the opinions of people like you. I avoid petty, people who have so much pent up hatred they can’t see or read straight.
If you’re not careful ... you’ll make the headlines for all the WRONG reasons ... get a grip on yourself. READ and COMPREHEND what people state.
No hubby isn’t a lawyer.
Yes, I don’t have to work.
yes, I am happy I can stay home with the “kiddies”.
We planned it that way. Calm down ... . I simply have an old fashioned husband who I love and wonderful "kiddies". We're very happy.
NO - the financial trouble will possibly be traceable to a mortgage which they never should have accepted! It's not the lender's fault if you can't handle your own finances.
I've spoken to some Hedgie's in this business & it's scarier than u can imagine... gonna be worse than the LLP's in the 80's.
Theses modern-day Ponzi-Alchemists have used Derivitaves, Leverage, etc. to create this artificial liquidity that's coming home to roost.
....note to self; ignore hateful posts by nmh....
HA!!! I’m guessing I’ll be close to 40% right in the end unless they are all bailed out somehow.
possibly
What do they want Welfare Mortgages, minorities pay a third and taxpayers pick up the rest?”
Give it a week.
I do have a nagging feeling that I will end up subsidizing the greed of others who are “too good” to live in a small house and are now tens of thousands in debt and looking for a bailout. I guess these are the same people who cashed out their 401K and will vote to have MY 401K taxed to fund their care in a few decades.
-—Sorry for the rant.
Me: I avoid petty, people who have so much pent up hatred they can’t see or read straight.
You: ....note to self; ignore hateful posts by nmh....
Me: By all means ignore my posts. As I mentioned, I avoid petty people who are VERY immature and transfer their own hatred to what they see others write. That’s YOU!
You: ....note to self; ignore hateful posts by nmh....
I see you want to make it perfectly clear how immature you are and how right I am in my assessment of you.
You may repeat this:
“....note to self; ignore hateful posts by nmh....”
text tantrum as often as you like.
You know it’s hard to believe that FR allows such childish people like yourself on this forum. Your kind of behavior is more typical on a liberal forum such as DU. I only know of from others who post some hilarious stuff. Perhaps you’d feel more at home there. Post away!
>>For many, the financial trouble will be traceable to a mortgage they should never have been given.
If very many mortgage companies go out of business because of this and there is a significant ripple effect throughout the economy there is a real argument that the mortgages should not have been offered as well as not accepted.
It is the individual that has ultimate control and responsibility for their own financial activities. The newspaper is full of advertizements selling us goods that we neither need nor can afford. Most of us are wise enough to not heed those ads, at least not frequently. Why - because we know our financial situation. We are responsible.
This situation (if the article is to be taken at face value) sounds to me like people being irresponsible with their own money and then hiding behind the race card, hoping for a taxpayer-funded bailout.
Caveat Emptor
>>This situation (if the article is to be taken at face value) sounds to me like people being irresponsible with their own money and then hiding behind the race card, hoping for a taxpayer-funded bailout.<<
I agree this is, in fact, people being irresponsible, hiding behind the race card and hoping for a tax payer bail out.
My point was that in addition to that, many of the companies were also foolish, they have hurt the country and they also do not deserve sympathy and/or a tax payer bail out.
I agree as far as the companies are concerned - no sympathy from me. Now, those that have savings accounts that are federally insured are a different story (if it should come to that level). Whether it's a good thing overall or not, the FDIC/FSLIC guarantee is already written, so the fed can't reneg on that.
*** For many, the financial trouble will be traceable to a mortgage they should never have been given.***
Should say “a mortgage they should never have applied for.”
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