Bob P wrote on Feb 20^th, 2009 at 5:34pm:


That's what I am talking about, Bob!

Where the fuck is my $$$ for making all my 125 mortgage payments on time?

I PAID for the equity in my house, so nobody even tell me that's where mine is....it's BS!

I think worse things are coming and it will be here sooner then anyone thinks!

I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.

Thomas Jefferson

Yep it sounds very unfair that all these good people who have followed the rules and did everything legally do not get a bailout bonus. Paying ones mortgage on time every month as per agreement per contract does not go unnoticed... it reflects on your credit score.

Building equity in your home takes time and diligence... why would you risk the value of your house plummeting because five homes in your neighborhood go into foreclosure and are uninhabited ?
30 years worth of blood sweat and tears reduced down to  nearly nothing.

Sadly there is no litmus test that weeds out the speculators and idiots from those who have just fallen on hard times. It would be an interesting move though if the Gov. bought the foreclosed homes and gave them to the disabled american vets just because it's the right thing to do.

That would probably be considered too much meddling by the Gov. though.

just a thought.

with warm regards,
Tony

Correct me i'm wrong but the money appropriated for the stimulus package is newly printed money that does not come out of any local or federal coffers.
The country has been running in a budget defecit for eight years and has carried a debt for decades so any additional spending equals a bigger defecit now calculated at almost 11 trillion dollars.
We have been paying for this debt for decades. It's only now that things are tight people are paying attention.

Don't know but thats not my point. My point is your tax money has been used to help others or hundreds of years why should today be different?

karma wrote on Feb 20^th, 2009 at 6:50pm:


Because it's being used to bail out people that bought $300,000 dollar houses with only a part time job.

The goverment did this not me, and a lot of folks that are now paying for it.

Get it now?

monty wrote on Feb 20^th, 2009 at 7:09pm:


LOL...Give me some time to search the archives of the Boston Herald and I will show you, they even had a sit in when she was being evicted.

Until then, watch this!

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Watch the 'D' and 'R' on every speaker!

Dont ya just love the internet....LOL

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Barney fucking Frank should pay my share of this shit.....and yours!  

Charlie wrote on Feb 20^th, 2009 at 11:47pm:

Who said that? Certainly not me. I'm with you on this one. If a company like GM or Chrysler gets so bloated and can't get out from under the massive weight of union contracts, whose fault is that?

Bailouts should come from the Salvation Army or the Red Cross.

I usually try to stay out of political/economical threads, but there is always the exception to the rule.

We bought our house in 2000 - 4 bedrooms, 3 baths, 3100 sq ft, 1 acre wooded lot.  House was in terrible condition, but with "good bones" so we considered it as a good investment, somewhere we could live til we died.

We worked our butts off remodeling - new kitchen with flooring, counters, appliances, cabinets - master bath with jacuzzi tub, marble tile, all new flooring throughout house, hardwoods, tile, carpet, paint inside and out.

We refinanced four years later and the house appraised at $45,000 higher than what we bought it for.

Neighbor three doors down, with comparable home to ours foreclosed.
Their house sold for less than the original purchase price of our house/  Our house is now worth less than what we paid for it in 2000.

We paid our mortgage on time, every month.  We also paid our equity line on this house on time, every month.  We also paid every single other bill we had on time, every month.

That one foreclosure in my neighborhood has cost us all of the money that we have put in to upgrade our home. It brought down the market value of our house.

There was an article in our paper, written by Jim Woodward real estate columnist, (Multimedia File Viewing and Clickable Links are available for Registered Members only!!  You need to or ), where he discussed how home sellers are becoming very creative in in marketing their homes - using incentives such as bonuses to the selling agent, paying closing costs for the buyer, paying a year of real estate taxes for the buyer, even trips.  What it interesting in this article is that none of these "incentives" are taken into consideration by an appraiser when using that sold home as a comparable home to someone trying to sell their house. So the final "asking price" of the house now going to market is actually inflated - higher than market value indicated by comparable properties in the area.

Conversely - if a home in your neighborhood sells due to a foreclosure at a much reduced market value ...guess what.  Appraisers and Realtors DO AND MUST, use that foreclosed on home as a comparable when determining the value of your house.  You've paid your mortgage, maintained your property, even upgraded, but that one foreclosure has reduced the value of your property.

Is this fair? No.  This is a double standard.  

Either do or do not include "incentives" in the sale price of a home, or do or do not include sale price of foreclosures when determining the market value of another home. Either way they want to do it - but one or the other, not both.

Sorry this is so long.  But, with a with an education in real estate, and carrying a real estate license in NC, and as a homeowner, this is totally unacceptable to me.  They cannot have t both ways -yet they do.

Sandy

monty wrote on Feb 20^th, 2009 at 7:09pm:


45,000 homes were foreclosed and the banks took possession, in JANUARY.
Lot's of good hard working people, some working 3 jobs, are on the street trying to get approved for renting something that they can afford but may not be approved for because of the foreclosure.

Thousands of Americans that have worked hard all their lives have been either fired or layed off and are now working just as hard with much lower paying jobs, if at all yet.
Many of these people could have sold their homes, homes they made on time payments on for 20 years, but can't sell because they are upside down on their home that lost 35% of its value...WHILE THEY WERE AT WORK.

Thousands of retired Americans that were paying their mortages with draws from their various forms of 401Ks. Money they earned by working hard and saving. Their life savings have been wiped out by as much as 50% and are now threatened with living in a refrigerator box under a bridge.

Thousands of our men and women that have been fighting in the ME are coming home, to a house that was being paid for through their military pay and their spouses paycheck. Coming home to a jobless market. Now they are a trying to pay an upside down mortage on one paycheck. Hopefully they don't have a baby on the way.

I would hope our policies are adopted based upon these (hundreds of thousands) stories and not one story about some part time worker that tried to take advantage of the situation. For every one of those, there are thousands that did everything right, and had the rug pulled out from under them. A rug they paid for, sometimes with their blood.

B~

Quote:


Jonny maybe you should get a new accountant, perhaps you may qualify for a tax rebate.
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edited to add: or perhaps you may want to purchase a vactaion home... if you rent it for 15 days at 10,000.00 a week... did you know that you will not have to pay taxes on $20,000.00 worth of income... not one penny. see the link below to see how you too can join the throngs of wealthy folks who benefit by owning a second home.
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hope this helps.

with warm regards,
Tony

Pinkfloyd wrote on Feb 22^nd, 2009 at 1:15am:


Fair enough, I guess we can leave it at that!  

Bob P wrote on Feb 22^nd, 2009 at 7:32am:


Sure they can, because they refinanced 3 times, the first time for a new kitchen, the second time to build out the bonus room and then, as they got better, and better at it, a new motorhome. So, their $80,000 home somehow has $160,000 worth of obligations against it. This thing is a mess.