The Liberal Thread #2 - No Debate Please

[robinb]

We're trying to do what we can do as friends. My way of thinking is to tide them over until the depression gets so bad it is in the bank's interest to keep them in their home. This happend during the Great Depression when no one wanted extra real estate on their hands.

I am amazed the banks don't appear to want to work things out these days with so many foreclosures. My sister was just foreclosed on and they are most likely upside-down on their mortgage. The bank will not get what they are owed when they sell the house.

 

[Fitswimmer]

I think they assume they are better off because they are making more money now than they did then. They don't realize how the rapidly increasing COL and the decline in the market has affected their standing.

They're only looking at one factor, and they don't hear the footsteps coming from behind. They'll read stories like what happened to LuvDuke's friends and think that they're prepared and that it could never happen to them.

 

[Laugh O. Grams]

Um - I'm the one who put that poll up.

And yes - I was shocked by the responses........

I didn't use the words "financially better off," I guess......

Oops! Sorry...

You just know the 27%ers here had to run over and post that they indeed are better off, even though every national poll reports that that is hardly the case. It's all about perception being important with so many of them, as if because they think things are so, it makes even the most harebrained conclusions valid.

 

[LuvDuke]

I am amazed the banks don't appear to want to work things out these days with so many foreclosures. My sister was just foreclosed on and they are most likely upside-down on their mortgage. The bank will not get what they are owed when they sell the house.

The banks don't have enough worthless real estate on their hands just yet. The country has been in a foreclosure cycle for a while now, just not enough of one.

The worst of all blows to one's security has to be losing your home. Keeping people in their homes will do a world of good for the country and people's peace of mind. People need something to hold on to.

Here's a bit of speculation: Watch the Republicans trot out Bush again for another inspiring press conference with a variation of "my friends, we have nothing to fear but fear itself".

 

[lilyv]

The banks don't have enough worthless real estate on their hands just yet. The country has been in a foreclosure cycle for a while now, just not enough of one.

The worst of all blows to one's security has to be losing your home. Keeping people in their homes will do a world of good for the country and people's peace of mind. People need something to hold on to.

Here's a bit of speculation: Watch the Republicans trot out Bush again for another inspiring press conference with a variation of "my friends, we have nothing to fear but fear itself".

You forgot...don't pay attention to your shrinking 401K...those statements don't mean anything, really. I promise.

 

[robinb]

Edited ... TMI on things I would rather not discuss anyway.

 

[Laugh O. Grams]

The banks don't have enough worthless real estate on their hands just yet. The country has been in a foreclosure cycle for a while now, just not enough of one.

The worst of all blows to one's security has to be losing your home. Keeping people in their homes will do a world of good for the country and people's peace of mind. People need something to hold on to.

Here's a bit of speculation: Watch the Republicans trot out Bush again for another inspiring press conference with a variation of "my friends, we have nothing to fear but fear itself".

Hopefully, he rehearses this one a bit better, and gets through it without his now patented hapless chuckling and face twisting...

 

[WildernessBride]

Here's a bit of speculation: Watch the Republicans trot out Bush again for another inspiring press conference with a variation of "my friends, we have nothing to fear but fear itself".

Here's more speculation: Maybe the Bush version will go something like..."I am kind of envious of all you financially strapped Americans out there...it must be an exciting and romantic experience for you to not know if you can pay the mortgage this month...it must be a fantastic experience for you to confront the danger of not being able to buy groceries."

 

[Fitswimmer]

Here's more speculation: Maybe the Bush version will go something like..."I am kind of envious of all you financially strapped Americans out there...it must be an exciting and romantic experience for you to not know if you can pay the mortgage this month...it must be a fantastic experience for you to confront the danger of not being able to buy groceries."

 

[Honu]

Anyone watching David Paterson being sworn in? He's funny.

 

[barbeml]

Here's more speculation: Maybe the Bush version will go something like..."I am kind of envious of all you financially strapped Americans out there...it must be an exciting and romantic experience for you to not know if you can pay the mortgage this month...it must be a fantastic experience for you to confront the danger of not being able to buy groceries."

Good one!

 

[WildernessBride]

Good one!

Hee,hee...Thanks!!!

 

[Honu]

Happy St. Pattys Day to all.

 

[akhenaten]

Happy St. Pattys Day to all.

My friend had that as his message on his cell phone

Happy Saint Patricks Day

 

[chris1gill]

Here's more speculation: Maybe the Bush version will go something like..."I am kind of envious of all you financially strapped Americans out there...it must be an exciting and romantic experience for you to not know if you can pay the mortgage this month...it must be a fantastic experience for you to confront the danger of not being able to buy groceries."

 

[crcormier]

Here's more speculation: Maybe the Bush version will go something like..."I am kind of envious of all you financially strapped Americans out there...it must be an exciting and romantic experience for you to not know if you can pay the mortgage this month...it must be a fantastic experience for you to confront the danger of not being able to buy groceries."

Well played!

 

[BunsenH]

Here's more speculation: Maybe the Bush version will go something like..."I am kind of envious of all you financially strapped Americans out there...it must be an exciting and romantic experience for you to not know if you can pay the mortgage this month...it must be a fantastic experience for you to confront the danger of not being able to buy groceries."

The only thing he could add is, "My mom said that they'll end up better off."

 

[Mugg Mann]

Here's more speculation: Maybe the Bush version will go something like..."I am kind of envious of all you financially strapped Americans out there...it must be an exciting and romantic experience for you to not know if you can pay the mortgage this month...it must be a fantastic experience for you to confront the danger of not being able to buy groceries."

You forgot the tag line;

"And for those you staying barely above the poverty line, you're doing a heckuva job!"

 

[WildernessBride]

You forgot the tag line;

"And for those you staying barely above the poverty line, you're doing a heckuva job!"

I like that...then he can give a presidential wave and maybe do a little tap dance like he did before he put his support behind McCain.

 

[Chloe'sMom]

I am amazed the banks don't appear to want to work things out these days with so many foreclosures. My sister was just foreclosed on and they are most likely upside-down on their mortgage. The bank will not get what they are owed when they sell the house.

Well that is because there is a bit of a liquidity problem. Not to mention banks hve gotten tighter and tighter on their lending standards - and those who could easily be approved for a loan before, now cannot.

If you take a look over the last couple of days when stock market was down the mortgage rates for the big boys - WAMU, Bank of America, Chase, and Citi were all up - and kept going up. Every indication would have been that the mortgage rates would go down - but they didn't.

Not to mention banks are trying to take on less mortgages this year - so there is a supply and demand thing going on. More people wanting to refinance, banks not wanting to do new loans = higher rates. = people can't afford the new payments.

BTW - little angry point for me - it was announced in the last few days that our old CEO - the idiot- was paid something like $8,000,000 for the 2007 business - and we just laid off about 5000 people.

~Amanda