Repo on 2004 Top Gun

[Ratickle]

It was no secret that these rates would adjust up. If a person signed the contract they should have to honor it...NOT ME !

You seem to make an assumtion that every home-buyer understands ARM's and that every home-lender is honest. I don't believe that for a second. I've listened to these guys wanting to re-write my fixed loan because they think I'm stupid too.

 

[Birdog]

You seem to make an assumtion that every home-buyer understands ARM's and that every home-lender is honest. I don't believe that for a second. I've listened to these guys wanting to re-write my fixed loan because they think I'm stupid too.

I do feel bad for the stupid people that got screwed but, If you want to help them out..Be my guest. I dont want to...
It is all the high rollers that tried to play the system and make a killing that frost my ass. I dont have a day of college and i can read a contract. They signed them thinking this would go on forever even i saw it couldnt...

At one point in life i was 30k into credit cards..some bad things happened and i was just plain stupid. I worked 7 days a week and gave up everything untill they got paid..I asked for no rate reduction or help in any way..I spent it...I paid it...tough **** for me...

I think i was raised in a differant world than we have now..

 

[LaughingCat]

it's a survivor's world out there. People will always look for loopholes and ways to scam the system. I'll bet many on this board have sought loopholes than others would find unfair, but they profited. i know someone who boat an NSX from autoauction. i was claimed to have flood damage and engine was shot. He noticed the engine tweeks and outbid an aggressive buyer. He said the buyer was the adjuster who totalled the car for the company, then doctored it to try and get it at auction. Person i knew happened to be a master mechanic and figured it out. Just had more money ready than the adjuster.

I don tlike any of these scams, but it's America and many people feel it's their right to cut corners. It catches up with everyone eventually.

 

[Ratickle]

I do feel bad for the stupid people that got screwed but, If you want to help them out..Be my guest. I dont want to...
It is all the high rollers that tried to play the system and make a killing that frost my ass. I dont have a day of college and i can read a contract. They signed them thinking this would go on forever even i saw it couldnt...

At one point in life i was 30k into credit cards..some bad things happened and i was just plain stupid. I worked 7 days a week and gave up everything untill they got paid..I asked for no rate reduction or help in any way..I spent it...I paid it...tough **** for me...

I think i was raised in a differant world than we have now..

We all were I think.

What I'm saying is the ones like you were, who are trying hard to do what they need to should be helped. But both a husband and wife lost their good jobs due to the total incompetence of our politicians, and are working for 1/2 as much trying to keep up on their house payments. Should have been re-financed, not forclosed on. And if they have to pay back the loan over 40 years instead of the 25 they had left on the loan. So be it, we can afford it.

 

[Ratickle]

I don tlike any of these scams, but it's America and many people feel it's their right to cut corners. It catches up with everyone eventually.

I think this time it caught up with all of us.

 

[Birdog]

We all were I think.

What I'm saying is the ones like you were, who are trying hard to do what they need to should be helped. But both a husband and wife lost their good jobs due to the total incompetence of our politicians, and are working for 1/2 as much trying to keep up on their house payments. Should have been re-financed, not forclosed on. And if they have to pay back the loan over 40 years instead of the 25 they had left on the loan. So be it, we can afford it.

I dont understand the banks not working with these people instead of foreclosing...I'm sure they have an "angle' And i think this tax dollars making up the diff. is just what they were counting on...Those of us who did the right thing,screwed again.

During all the madness i never bought big homes, vacation properties, Investment properts..etc..Refinacing to buy big boats,cars,bikes whatever.In my head i always thought i had to pay it back someday

Like a dumb-ass I did buy stocks though...

 

[Buoy]

You seem to make an assumtion that every home-buyer understands ARM's and that every home-lender is honest. I don't believe that for a second. I've listened to these guys wanting to re-write my fixed loan because they think I'm stupid too.

If you aren't smart enough to understand that the loan is going to adjust, you're not smart enough to own a home.
We got into an ARM on the last house, about two months before it would adjust, did a refi to lock into a solid rate. Had that in the plan from day one.

I dont understand the banks not working with these people instead of foreclosing...I'm sure they have an "angle' And i think this tax dollars making up the diff. is just what they were counting on...Those of us who did the right thing,screwed again.

During all the madness i never bought big homes, vacation properties, Investment properts..etc..Refinacing to buy big boats,cars,bikes whatever.In my head i always thought i had to pay it back someday

Like a dumb-ass I did buy stocks though...

That's where I'm having a problem with all this too.
I didn't buy more than I could afford.
Now, we're bailing out the people that did.
Things are tight for everyone right now, but I can get by - I planned for the "what if", those that didn't plan for it are being taken care of by the gov't.