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I love when they talk about all the "bailouts", financial crisis, bad mortgage loans, etc. (usually not really knowing what they are talking about) and then at the end of the segment complain about all people who shouldn't have been given home loans because they shouldn't have qualified, and then.....
First commercial (in GR) is a particular mortgage company saying get a loan from them if you have been turned down by everybody else, cuz they will approve you.
I know they need to make money, and they are a sponsor, but can you at least not play that DIRECTLY after complaining about people who get loans that shouldn't.
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"ok cool story horrible bitch"
pants on the ground! pants on the ground!
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Best Jerks Ever Wrote:I love when they talk about all the "bailouts", financial crisis, bad mortgage loans, etc. (usually not really knowing what they are talking about) and then at the end of the segment complain about all people who shouldn't have been given home loans because they shouldn't have qualified, and then.....
First commercial (in GR) is a particular mortgage company saying get a loan from them if you have been turned down by everybody else, cuz they will approve you.
I know they need to make money, and they are a sponsor, but can you at least not play that DIRECTLY after complaining about people who get loans that shouldn't.
I thought the same thing this morning! the mortgage company is Arbor Mortgage and they are definitely part of the problem!
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I'm willing to guess that they don't choose what commercials will go on and when.
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potthole Wrote:I'm willing to guess that they don't choose what commercials will go on and when.
as am I
i think the financial crisis thread in the Touchy Subject area talked about it...i remember bringing it up at a point somewhere...
"You can qualify for a loan up to 150% the value of your home even if you've been turned down by everyone else."
"Golf requires goofy pants and a fat ass. You should talk to my neighbor the accountant. Probably a great golfer. Huge ass!"
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Without Arbor Mortgage the local radio stations might be hurting for advertisers!
Go fuck yourself. Hard.
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They likely don't get to choose.
Here in Nashville we get the Dave Ramsey Show, and he's anti-credit card and all that, and even during his shows there will be commericials for all kinds of things he just spent 30 minutes railing against.
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We get Dave Ramsey up here in Grand Rapids too. He talks about no credit cards. He also talks about no mortgages if you can do it, but realizes that it's not going to happen. 99.9% of people are going to need a mortgage. His advertiser for mortgages is a company that he personally endorses and recommends everybody use because they're a company that will tell you honestly if you can afford a house or not.
On a side Dave Ramsey not, I have one more loan to pay off and then I owe nobody but Sallie Mae and it's going to be great.
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cuppie Wrote:We get Dave Ramsey up here in Grand Rapids too. He talks about no credit cards. He also talks about no mortgages if you can do it, but realizes that it's not going to happen. 99.9% of people are going to need a mortgage. His advertiser for mortgages is a company that he personally endorses and recommends everybody use because they're a company that will tell you honestly if you can afford a house or not.
On a side Dave Ramsey not, I have one more loan to pay off and then I owe nobody but Sallie Mae and it's going to be great.
Be careful what you say here. I got into that position too. I paid school off, my car, ALL credit card debt, etc. My reward was going to be the 42" LCD TV that I've been waiting for for so long. Instead my reward was a failed transmission.... I'm now back to square one, and I had to put the tranny on my credit card because I attacked my debt before saving up an emergency fund.
I'm only 25 though, so I have plenty of time.....just wanted to complain. ;D
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fetusfacedwindbag Wrote:cuppie Wrote:We get Dave Ramsey up here in Grand Rapids too. He talks about no credit cards. He also talks about no mortgages if you can do it, but realizes that it's not going to happen. 99.9% of people are going to need a mortgage. His advertiser for mortgages is a company that he personally endorses and recommends everybody use because they're a company that will tell you honestly if you can afford a house or not.
On a side Dave Ramsey not, I have one more loan to pay off and then I owe nobody but Sallie Mae and it's going to be great.
Be careful what you say here. I got into that position too. I paid school off, my car, ALL credit card debt, etc. My reward was going to be the 42" LCD TV that I've been waiting for for so long. Instead my reward was a failed transmission.... I'm now back to square one, and I had to put the tranny on my credit card because I attacked my debt before saving up an emergency fund.
I'm only 25 though, so I have plenty of time.....just wanted to complain. ;D
I feel your pain. We're not anywhere near paying off my student loans or our newly-acquired mortgage, but as fate would have it, the day after we got possession of the home - BAM - here comes over a grand in car repairs that need to be done.
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Don't even get me started on student loans. Between my boyfriend and I our student loans cost about 1.5x our rent.
The bf likes to tie up his savings in the stock market, mine are in a high-interest savings account. While he'll earn more in the long run (maybe), his funds won't be readily available if he needed them immediately.
That's what she said.
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potthole Wrote:fetusfacedwindbag Wrote:Be careful what you say here. I got into that position too. I paid school off, my car, ALL credit card debt, etc. My reward was going to be the 42" LCD TV that I've been waiting for for so long. Instead my reward was a failed transmission.... I'm now back to square one, and I had to put the tranny on my credit card because I attacked my debt before saving up an emergency fund.
I'm only 25 though, so I have plenty of time.....just wanted to complain. ;D
I feel your pain. We're not anywhere near paying off my student loans or our newly-acquired mortgage, but as fate would have it, the day after we got possession of the home - BAM - here comes over a grand in car repairs that need to be done.
Well I was fairly lucky when it comes to my student loans. I worked two jobs all during college to pay for school as I went, so I only had to pay off the last semester (which I decided to take easy and only work one job during). I only had about $6K to pay off when I graduated in December. It was funny how it worked. I paid everything off one Friday about a month or so ago, and the following week was the week that my car decided it was in its best interest to not work any more.
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Allyson Wrote:Don't even get me started on student loans. Between my boyfriend and I our student loans cost about 1.5x our rent.
The bf likes to tie up his savings in the stock market, mine are in a high-interest savings account. While he'll earn more in the long run (maybe), his funds won't be readily available if he needed them immediately.
Liquidity vs. Return.... it's a biotch.
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fetusfacedwindbag Wrote:Allyson Wrote:Don't even get me started on student loans. Between my boyfriend and I our student loans cost about 1.5x our rent.
The bf likes to tie up his savings in the stock market, mine are in a high-interest savings account. While he'll earn more in the long run (maybe), his funds won't be readily available if he needed them immediately.
Liquidity vs. Return.... it's a biotch.
Yea, his idea of liquidity is Grandma. Lazy irresponsible sack of crap.
That's what she said.
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Allyson Wrote:fetusfacedwindbag Wrote:Liquidity vs. Return.... it's a biotch.
Yea, his idea of liquidity is Grandma. Lazy irresponsible sack of crap.
Why don't you tell us how you really feel Allyson? 
Hey doc, do you know the address of that place?
Oh, you know, I do know the address. It's at the corner of go fuck yourself and buy a map!
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Allyson Wrote:fetusfacedwindbag Wrote:Liquidity vs. Return.... it's a biotch.
Yea, his idea of liquidity is Grandma. Lazy irresponsible sack of crap.
You mean like borrowing from Grandma?
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Titan had to put a tranny on his credit card once too. 
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hotzester Wrote:Titan had to put a tranny outfit on his credit card once too.
fixed 
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Actually Arbor Mortgage isn't any different then a bank because all they are is a broker who simply does the same things the bank does (FHA loans have requirements which borrowers have to meet) The real problem is the people who can't plan far enough ahead to pay their mortgage and the people who feel they are entitled to get a loan for a home they can't afford.
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jvanderwall Wrote:Actually Arbor Mortgage isn't any different then a bank because all they are is a broker who simply does the same things the bank does (FHA loans have requirements which borrowers have to meet) The real problem is the people who can't plan far enough ahead to pay their mortgage and the people who feel they are entitled to get a loan for a home they can't afford.
I would call that a bold statement. Most people that are having their loans foreclosed on are doing so because they've commited to ARMs. They were foolish to think that the rate would stay put or go down, but I would imagine there would be pressure from the salesman for them to get approved. During that time, the Fed was consistently dropping rates, and trends were showing that rates would continue to drop. Unfortunately, everyone in America doesn't completely understand macroeconomics, and they could therefore not (by little fault of their own) know that their mortgage could double in size, etc. I would say that just as much fault should be placed on the lender as the lendee.
IMO.
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It's also societies fault for making people want and buy houses they can't afford
"Golf requires goofy pants and a fat ass. You should talk to my neighbor the accountant. Probably a great golfer. Huge ass!"
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Howie Feltersnatch Wrote:It's also societies fault for making people want and buy houses they can't afford
By society you mean TV, movies, pro sports and anything to do with Hanna Montanna...
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I just want to say that I love Plungie's avatar.
Go fuck yourself. Hard.
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A) How is it society's fault?
B) Assuming you're right, and society is to blame, did society sign the contract at the time of sale? Even if society makes you WANT something, it is ultimately YOU who does it.
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Admin Wrote:I just want to say that I love Plungie's avatar.
You don't remember the "Year Without a Santa Claus(1974)"? It's the Heat Miser. I tried to get Queenie to be the "Snow Miser" but you know royalty....
[flash=350,287]http://www.youtube.com/v/yon2YuXssvo&hl=en[/flash]
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hotzester Wrote:A) How is it society's fault?
B) Assuming you're right, and society is to blame, did society sign the contract at the time of sale? Even if society makes you WANT something, it is ultimately YOU who does it.
Sounds good on paper, but that is not the world we live in and you know that. The USA has been dumbed down to the lowest common denominator, the TV.
"got to keep with the Jones', no matter the cost"
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ARMs were a solution to the people who had bad credit but the government said "you have to be fair and give them a house because they deserve it." then as there 2 year fixed rate came to a close they didn't refinance and they lost the house because they couldn't make the payments. Then because they were foreclosed on the banks took 70% of the property value as a sale which helped to drive the prices of homes down. Thus lowering your property value and then everyone who went to go refinance there ARMs couldn't because the appraisals would come in to low. But I would agree some of it steamed from poor lending policies and aggressive salesmen.
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Quote:Sounds good on paper, but that is not the world we live in and you know that. The USA has been dumbed down to the lowest common denominator, the TV.
"got to keep with the Jones', no matter the cost"
So I bought a home to keep up with the Joneses? Or did I buy a home because I wanted to plant roots, start a family, and have an investment? For me, it was the latter.
Second, for those of you who may think society made you buy a house, are you willing to share any of the equity you accrue over the term of your mortgage? Or are you only blaming society when it goes poorly?
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hotzester Wrote:Quote:Sounds good on paper, but that is not the world we live in and you know that. The USA has been dumbed down to the lowest common denominator, the TV.
"got to keep with the Jones', no matter the cost"
So I bought a home to keep up with the Joneses? Or did I buy a home because I wanted to plant roots, start a family, and have an investment? For me, it was the latter.
Second, for those of you who may think society made you buy a house, are you willing to share any of the equity you accrue over the term of your mortgage? Or are you only blaming society when it goes poorly?
hotzestor, you are the EXCEPTION, not the rule. I am saying you're right, but far too few people these days behave in that manor. I will do whatever it takes to get me and mine through this crisis. But I see it all around me. People with there hands out already.
And American society IS to blame. Just like Rome fell, brace yourselves it's coming, and there is nothing you can do...
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it is NEVER their fault then they are delinquent on their debts.
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I agree that too many people behave irresponsibly and act like idiots when it comes to money, but what I disagree is that it's someone else's fault. If society is to blame, and we all live in the same society, why are only SOME people affected by it? Surely a society powerful enough to make someone want to go a quarter of a million dollars into debt is powerful enough to influence more than just a select few.
Couldn't it just be that those people are immature and irresponsible?
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hotzester Wrote:I agree that too many people behave irresponsibly and act like idiots when it comes to money, but what I disagree is that it's someone else's fault. If society is to blame, and we all live in the same society, why are only SOME people affected by it? Surely a society powerful enough to make someone want to go a quarter of a million dollars into debt is powerful enough to influence more than just a select few.
Couldn't it just be that those people are immature and
irresponsible?
OF course it's because they are. Why is debt collection both medical and non one of largest growing fields? Why is there a new "check into cash" or "payday today" on every friggin corner?
For christ sake you can now RENT wheels for your car. WHO DOES THAT?
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So it's NOT society?
PS - Great avatar, btw.
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hotzester Wrote:So it's NOT society?
PS - Great avatar, btw.
If not society, who is keeping those above mentioned places in business?
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The retards who don't pay their bills.
EDIT: I left a word out. I meant to say the SAME people who don't pay their bills. These are the people who need to go to places like that. They don't save any of their money, they spend it impulsively, which leads them to debt. The businesses you mentioned merely capitalize on a behavioral pattern. Businesses that spring up without knowing whether or not there's a pre-existing market aren't going to stick around long, so it's unlikely that the businesses that cater to the clients pre-dated the clients themselves.
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OMG! I went to lunch and missed the best discussion of the day! AND now I have to hop on a conference call and miss the rest! I want so badly to put my long drawn out two cents in about this subject! Maybe I'll do it when I'm done....
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hotzester Wrote:The retards who don't pay their bills.
EDIT: I left a word out. I meant to say the SAME people who don't pay their bills. These are the people who need to go to places like that. They don't save any of their money, they spend it impulsively, which leads them to debt. The businesses you mentioned merely capitalize on a behavioral pattern. Businesses that spring up without knowing whether or not there's a pre-existing market aren't going to stick around long, so it's unlikely that the businesses that cater to the clients pre-dated the clients themselves.
I don't know about GR, but where I work in West Nashville, I can think of 7 such places without even trying. They have been here for years. Not that this city is a direct reflection of our country, but in my 40 years of living in several states and Europe, Nashville is a pretty good slice of American life. With the rich, poor, black, white and the rest of us that fall in between, and it doesn't look promising from here.
And now I got people whispering " Amero", in my ear.
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I don't know about GR either. I live just north of Albany, and we don't have ANY of those. (But I've seen them in my many adventures to other places.)
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hotzester Wrote:I don't know about GR either. I live just north of Albany, and we don't have ANY of those. (But I've seen them in my many adventures to other places.)
Sorry dude, I don't know why I thought you were from GR. I will take pics and post them. I have been here since 1990, and have yet to find anywhere else where the haves/have nots are so obviously defined. It gives true meaning to the phrase," the other side of the tracks."
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fetusfacedwindbag Wrote:potthole Wrote:I feel your pain. We're not anywhere near paying off my student loans or our newly-acquired mortgage, but as fate would have it, the day after we got possession of the home - BAM - here comes over a grand in car repairs that need to be done.
Well I was fairly lucky when it comes to my student loans. I worked two jobs all during college to pay for school as I went, so I only had to pay off the last semester (which I decided to take easy and only work one job during). I only had about $6K to pay off when I graduated in December. It was funny how it worked. I paid everything off one Friday about a month or so ago, and the following week was the week that my car decided it was in its best interest to not work any more.
I know my student loans could be worse than they are. They are still a somewhat large amount, thanks to going to a private university, but I know they could be quite a bit worse, too.
By some rough calculations, I think I should be able to get them all paid off within eight years. Thankfully, at the same time we're making extra payments, my wife and I are also able to put some money away into savings.
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