Reducing mortgages by 100k with the stroke of a pen?

[Guest]

Re: Reducing mortgages by 100k with the stroke of a pen?

I have found out about the outsourcing Issachar.
It's a secret so don't tell anyone.
AT&T outsources their call center to India.
But, if you call at 3:30am CST, you get the USA.
You wonder how I know this?
My DSL has been acting up, and at 3:30 this morning, my wife called to complain.
She got off the phone and woke me up to tell me she talked to an American!
Lovely, then I spent 2 hours trying to go back to sleep, finally doing it for 30 minutes, before the alarm went off.
A post it note would have been nice. LOL

[N1095A]

Re: Reducing mortgages by 100k with the stroke of a pen?

I would just like to remind people here that circumstances such as job loss or medical issues can really put a responsible person in bad shape.

In America these days, it has become fashionable to blame the victim. Those unfortunate enough to get caught in circumstances beyond their control, or because they didn't live in a cave and put all the money in the bank are "greedy" or "stupid". I see a lot of this elsewhere on the web and some laugh at what folks are going through. Little do they realize they will likely be in for a rude awakening themselves when they go to sell their home.

[Issachar]

Re: Reducing mortgages by 100k with the stroke of a pen?

In America these days, it has become fashionable to blame the victim.

That is very true Bobby. While there is something to people accepting responsibility for their own choices, I think the pendulum has swung too far the other way, evidenced especially on certain talk radio shows, where NOTHING can happen to anyone beyond their control. The former, to the extreme, is selfishness on the part of the "victim" and the latter, to the extreme, is selfishness on the other end.

Issachar

[N1095A]

Re: Reducing mortgages by 100k with the stroke of a pen?

It's basically an indifference to the woes and trials of others. Life is not always easy and uncomplicated. Granted there are ways to make one's life more complicated but I've lived long enough to see quite the wide spectrum of life events. I've been rather amazed at some of the stuff I've seen, which I will not go into great lengths about but I have seen the "tough luck, I'm fine" attitude and it's disgusting.

Call it "the love of many shall wax cold"....

[Issachar]

Re: Reducing mortgages by 100k with the stroke of a pen?

... I have seen the "tough luck, I'm fine" attitude and it's disgusting.

Call it "the love of many shall wax cold"....

Yes. And it is quite sad to see.

Issachar

[MoreThanConquerors]

Re: Reducing mortgages by 100k with the stroke of a pen?

The company my husband works for is having another round of layoffs today.

The company I work for is going through the same thing.

It's easy to condemn this as free money and as greed. I am sure it is. But there are quite a few responsible people being impacted by this as well. Without a job, its just as hard paying off a $100k mortgage as a $200k one.

And frankly...the banks can afford it... I almost felt ill signing my mortgage and seeing how much interest they are going to make off of me if I stick to my 30 year note...which, hopefully, I am not.

[Issachar]

Re: Reducing mortgages by 100k with the stroke of a pen?

I find it crazy that most folks work most of their adult life to have a roof over their head. 150 years ago people would get together and build a house in the community and then another and then another ..... Not saying that would work in today's society, but I just find it interesting considering the number of hours worked just to have a dwelling to live in.

Issachar

[SAT]

Re: Reducing mortgages by 100k with the stroke of a pen?

Not so long ago people bought modest homes and worked/paid their way up, if God allowed. If He didn't, no problem we were grateful for what we did have. At least from what I've seen, greed has sooo infilterated our culture we have come to believe we have to have the top, then struggle to hang on.
It seems the fine balance of being in the world but not part of it has been lost. We have placed so much value and fear into hanging on. We've allowed the world to convince us our value is in what we have here.

[N1095A]

Re: Reducing mortgages by 100k with the stroke of a pen?

It was a mathematical certainty. The "surprise" by the Fed is an absolute outright lie. Two straight years of interest-rate hikes for a total of 4.25% (yes from record lows) did this. They wanted to get the economy "going" again after 9/11. They did that, to a marginal degree. Then shot the whole thing down. When it was not dead yet, then the insane oil prices of late 2005. This is how the disaster was built. Just wait, you ain't seen nothin' yet.

[SAT]

Re: Reducing mortgages by 100k with the stroke of a pen?

I suspect you are right but I still think the real problem was us. Our humaness has bought their lines for many many years.
No one forced us to live beyond our means. Even now, for example, stockbrokers etc still believe we are the mighty west nothing bad can happen to us. One could even make a case that blaming others si also another sign. A sign we somehow came to believe we could live in greed and not eventually pay for it.
Allowing ourselves to blame others, is wrong.IMHO

[N1095A]

Re: Reducing mortgages by 100k with the stroke of a pen?

WE don't control interest rates. THEY do. THEY lowered the rates knowing full-well what the average citizen would do. Then began tightening the noose. Oops, it broke. Now they all have "worried" looks on their faces.

They pulled the rug out. The Fed made the interest-rate disaster that was blamed on Carter. Killed the economy then, too. Oh, and BTW, the Arabs decided it was time to punish America for helping Israel so they jacked the gas up and pretended there was a "shortage".

The fact is, the gov't WANTS you to spend money. That's how they tax. When they shoot the ox treading out grain, they eventually shoot themselves in the process.

Refinancing the house, in a market where houses increased in value for 30 years was a reasonably smart decision. Until the lunatics at the Fed decided they a) weren't getting enough or b) intended to destroy it.

The net effect is the same.

~~~~~~~~

I'm sitting here watching (and painfully experiencing) how these boneheads and not just the FedReserve (sorry, no other term appropriate) are wrecking the country from several angles. There is a potentially serious threat of social disorder associated with a crashing economy that none of us will enjoy. To say the very least....

[Issachar]

Re: Reducing mortgages by 100k with the stroke of a pen?

They wanted to get the economy "going" again after 9/11.

Yes, and they should not have. The US is supposed to be a free market system. The central bank should let the markets work things out. But they won't. They haven't since the Federal Reserve Act was passed and signed in 1913. THAT was the beginning of the US getting where it is today. In fact, there is a contradiction in me saying, "The central bank should let the markets work things out." The presence of a central bank is antithetical to a free enterprise / free market system.

Issachar

[N1095A]

Re: Reducing mortgages by 100k with the stroke of a pen?

The presence of a central bank is antithetical to a free enterprise / free market system.

I think so too. Every one of their artificial manipulations brings trouble when they try to "reign" things in. I submit there are better ways within our form of gov't and a good portion of that would be dissolving them.

[Issachar]

Re: Reducing mortgages by 100k with the stroke of a pen?

I submit there are better ways within our form of gov't and a good portion of that would be dissolving them.

True, but scripturally it won't happen.

Proverbs 22:
7 *¶The rich ruleth over the poor, and the borrower is servant to the lender.

The "central bank" is actually a cabal of very private banks and bankers. The US is hugely indebted to these individuals. That makes the US the servant to the lending central bank. It will do what they want, not the other way around.

Issachar

[RollingAlong]

Re: Reducing mortgages by 100k with the stroke of a pen?

Refinancing the house, in a market where houses increased in value for 30 years was a reasonably smart decision.

Many people refinanced their houses to suck the equity out of it to buy boats, SUV’s, Harleys, 60 inch wide screens, latest electronic gizmo, bigger house, country club memberships, etc. They were living on the edge and they continue to live on the edge.