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10/07/2008 02:38:22 PM · #1
Someone sent me this picture today even though I find it to be a funny illustration at the same time it's sad but a true reality.
The picture says it all.
[thumb]729132[/thumb]

Message edited by author 2008-10-07 14:42:14.
10/07/2008 02:39:00 PM · #2
ouch.
10/07/2008 02:44:14 PM · #3
:):):) It's funny.

But it's not a sad but true reality. But I've seen one, ONE foreclosed house in our area.

These aren't normal, paying people who are losing their homes. It's high risk people that should never have been given a loan in the first place. Most of the problems are in certain areas where the housing bubble went unchecked. Look at reality not what the news shovels at you.
10/07/2008 02:56:21 PM · #4
:-(

I'm half out of work as of today, and it may go away completely very soon. We were in need of financing before the troubles in the market, and now it's just not there to get at all. Very bad timing for us, as we just started an amazing new project, which now may never see the light of day.

Oh well. At least I can become a full-time DPC Forum junky now! ;-)

Anybody need a Geologist/IT Specialist/Photographer ?
10/07/2008 03:00:20 PM · #5
Sorry,,,,good people are going bad do to the housing market. It's not all subprime, silly ltv and creative financing, investors and just common folks.
10/07/2008 03:04:16 PM · #6
Originally posted by HawkeyeLonewolf:

:):):) It's funny.

But it's not a sad but true reality. But I've seen one, ONE foreclosed house in our area.

These aren't normal, paying people who are losing their homes. It's high risk people that should never have been given a loan in the first place. Most of the problems are in certain areas where the housing bubble went unchecked. Look at reality not what the news shovels at you.


In other words you're happy to see these people lose their dreams.

About your last sentence. Why do you keep posting articles and videos from FOX news then? You don't like it shoveled to you but you love shoveling it to DPC.
10/07/2008 03:11:04 PM · #7
Originally posted by Jac:

Originally posted by HawkeyeLonewolf:

:):):) It's funny.

But it's not a sad but true reality. But I've seen one, ONE foreclosed house in our area.

These aren't normal, paying people who are losing their homes. It's high risk people that should never have been given a loan in the first place. Most of the problems are in certain areas where the housing bubble went unchecked. Look at reality not what the news shovels at you.


In other words you're happy to see these people lose their dreams.

About your last sentence. Why do you keep posting articles and videos from FOX news then? You don't like it shoveled to you but you love shoveling it to DPC.


When have I posted a link to an article/video from FOX News?

And no, I'm not happy to see them lose their dreams. But they never really attained their dream, did they? They didn't need to earn it or do anything. The loan was just handed to them that they couldn't afford. It's very sad, but it's, as I stated, NOT as widespread as the media is making it out to be.
10/07/2008 03:13:25 PM · #8
There are a lot of foreclosed houses in our area (and re-possessed cars, boats, etc.) but it doesn't have anything to do with the current events, and it is actually "in decline" some now.

A few years ago, the chief loan officer at our credit union told us that they had had more re-pos and forecloses that year (2004, I think) than any other year in history. People were going to the reservation Casino in Cherokee and losing everything, literally.

So, if one doesn't get ya, I guess something else will. . . .
10/07/2008 03:16:30 PM · #9
Originally posted by HawkeyeLonewolf:

:):):) It's funny.

But it's not a sad but true reality. But I've seen one, ONE foreclosed house in our area.

These aren't normal, paying people who are losing their homes. It's high risk people that should never have been given a loan in the first place. Most of the problems are in certain areas where the housing bubble went unchecked. Look at reality not what the news shovels at you.


So lets see if I understand your analogy by using an example.
My parents have a mortgage on their home.
They have great credit.
They had to get a loan on their home due to my Dad's medical bills.
Now they have a mortgage payment that fits within the % rules.
My Dad is terminal.
When he passes, a great loss but also a large loss of income.
Will my mother be able to continue payments since the bank would not give my Dad life insurance in the event of his death; no matter how it may occur.
They are your every day real people that looked after their credit. If a clerk gave my mother to much money back, even a nickel, she would return it.
One unfortunate medical horror and everything is on the line.
No, they have not going in to foreclosure and I don't see it happening as long as I can help provide.
But as you can see, it's not always bad lending practice or bad people.
It can happen to anyone!

Message edited by author 2008-10-07 15:17:54.
10/07/2008 03:21:49 PM · #10
Originally posted by SDW:

Originally posted by HawkeyeLonewolf:

:):):) It's funny.

But it's not a sad but true reality. But I've seen one, ONE foreclosed house in our area.

These aren't normal, paying people who are losing their homes. It's high risk people that should never have been given a loan in the first place. Most of the problems are in certain areas where the housing bubble went unchecked. Look at reality not what the news shovels at you.


So lets see if I understand your analogy by using an example.
My parents have a mortgage on their home.
They have great credit.
They had to get a loan on their home due to my Dad's medical bills.
Now they have a mortgage payment that fits within the % rules.
My Dad is terminal.
When he passes, a great loss but also a large loss of income.
Will my mother be able to continue payments since the bank would not give my Dad life insurance in the event of his death; no matter how it may occur.
They are your every day real people that looked after their credit. If a clerk gave my mother to much money back, even a nickel, she would return it.
One unfortunate medical horror and everything is on the line.
No, they have not going in to foreclosure and I don't see it happening as long as I can help provide.
But as you can see, it's not always bad lending practice or bad people.
It can happen to anyone!


I never said anything to the contrary.

There have always been foreclosures and those created by hardship. But those are not relevant to the current crisis. That's all.

If your situation is true and not an example, then my sympathies and prayers for you and your family.
10/07/2008 03:26:11 PM · #11
Originally posted by HawkeyeLonewolf:

There have always been foreclosures and those created by hardship. But those are not relevant to the current crisis. That's all.


Of course they are. The current crisis is spreading to affect everything. But you keep whistling dixie and playing your fiddle while you do the superiority dance. (enough mixed metaphors for you?)
10/07/2008 03:28:36 PM · #12
Originally posted by HawkeyeLonewolf:

Originally posted by SDW:

Originally posted by HawkeyeLonewolf:

:):):) It's funny.

But it's not a sad but true reality. But I've seen one, ONE foreclosed house in our area.

These aren't normal, paying people who are losing their homes. It's high risk people that should never have been given a loan in the first place. Most of the problems are in certain areas where the housing bubble went unchecked. Look at reality not what the news shovels at you.


So lets see if I understand your analogy by using an example.
My parents have a mortgage on their home.
They have great credit.
They had to get a loan on their home due to my Dad's medical bills.
Now they have a mortgage payment that fits within the % rules.
My Dad is terminal.
When he passes, a great loss but also a large loss of income.
Will my mother be able to continue payments since the bank would not give my Dad life insurance in the event of his death; no matter how it may occur.
They are your every day real people that looked after their credit. If a clerk gave my mother to much money back, even a nickel, she would return it.
One unfortunate medical horror and everything is on the line.
No, they have not going in to foreclosure and I don't see it happening as long as I can help provide.
But as you can see, it's not always bad lending practice or bad people.
It can happen to anyone!


I never said anything to the contrary.

There have always been foreclosures and those created by hardship. But those are not relevant to the current crisis. That's all.

If your situation is true and not an example, then my sympathies and prayers for you and your family.

Thank you for your clarification. And I'm sorry I assumed you were pooling everyone. My mistake and thank you for your prayers.
Scott
10/07/2008 03:28:50 PM · #13
Originally posted by posthumous:

Originally posted by HawkeyeLonewolf:

There have always been foreclosures and those created by hardship. But those are not relevant to the current crisis. That's all.


Of course they are. The current crisis is spreading to affect everything. But you keep whistling dixie and playing your fiddle while you do the superiority dance. (enough mixed metaphors for you?)


Nope... just looking at the reality.
10/07/2008 03:48:46 PM · #14
My house is seriously close to being in that cartoon. My job is fairly safe as I work at a college, but I am working here for the health insurance and 401K (plummeting), the paycheck barely feeds my family. Husband is the bread winner and currently not winning ANYTHING. Some girl totaled his truck while he was working... 6 months from now it would be paid off. Now he can't get another truck because of his recently downed credit... so no work.

It's sad times for me, too :(

10/07/2008 04:11:47 PM · #15
Originally posted by cynthiann:

My house is seriously close to being in that cartoon. My job is fairly safe as I work at a college, but I am working here for the health insurance and 401K (plummeting), the paycheck barely feeds my family. Husband is the bread winner and currently not winning ANYTHING. Some girl totaled his truck while he was working... 6 months from now it would be paid off. Now he can't get another truck because of his recently downed credit... so no work.

It's sad times for me, too :(


Sorry to hear it cythiann. May God provide a way for you and yours.
10/07/2008 04:41:59 PM · #16
Originally posted by HawkeyeLonewolf:

Originally posted by posthumous:

Originally posted by HawkeyeLonewolf:

There have always been foreclosures and those created by hardship. But those are not relevant to the current crisis. That's all.


Of course they are. The current crisis is spreading to affect everything. But you keep whistling dixie and playing your fiddle while you do the superiority dance. (enough mixed metaphors for you?)


Nope... just looking at the reality.


I'm not sure you would recognize reality, if it hit you on the back of a semi-truck. With statements like, "And no, I'm not happy to see them lose their dreams. But they never really attained their dream, did they? They didn't need to earn it or do anything. The loan was just handed to them that they couldn't afford." Your lack of connection to the rest of the world is astounding.

What makes you think for even a minute that people who have less income, haven't earned anything? Do you think they don't get up every morning and go to work? Do you think their work is easier than others? The lady who cleans our office works seven days a week, and works three jobs. One of the jobs is loading freight trucks. Not a do-nothing-job the last time I looked. Nobody handed her a loan. She was sold a loan under the premise that she could refinance down the road. She put ten thousand dollars down, to get into her home. Should she have been more sophisticated about finance? Would have helped. But unfotunately she didn't have the money for college either. She's 58 years old, likely to lose her home the next time the rates adjust, and to this point never missed a payment in over five years. With the dropping property values, she cannot sell, cannot refinance, can only make payments till everything is lost. Oh, and to make things better, her 30 something supervisor told her that she should really look for other work because her seniority was getting so high, that they could hire two younger people for the same wage.

I don't know where you live, but the loan fairy didn't come through my neighborhood sprinkling money. The people in my town work and work hard for what they get. Your spew should be directed at the banks and loan companies who pocketed millions making this mess, not the working class.
10/07/2008 05:13:19 PM · #17
And a friend of mine that drives a beer delivery truck qualified to buy a $630,000 dream home a few years ago on a negative am mortgage (the kind where you actually pay less then the interest every month and the principal grows!). Needless to say, now he's screwed. But hey, let's bail him out and let him keep the dream house!

Shame on the lenders for giving people loans that could not pay them back. Shame on the lenders that talked people into loans that they could not pay back. Shame on the people that lied to get into a home they could not afford. Shame on the people that did not do the math and figure out how much home they could afford.

However, my sympathies go to those that have encoutered hardships, were responsible, and now can not pay back their loan. While they are probably the minority, with jobs disappearing I fear their numbers will grow rapidly.

Message edited by author 2008-10-07 17:14:11.
10/07/2008 05:23:27 PM · #18
YEAH !

Originally posted by ambaker:

10/07/2008 04:41:59 PM
Originally posted by HawkeyeLonewolf:

--------------------------------------------------------------------------------
Originally posted by posthumous:

--------------------------------------------------------------------------------
Originally posted by HawkeyeLonewolf:

--------------------------------------------------------------------------------
There have always been foreclosures and those created by hardship. But those are not relevant to the current crisis. That's all.

Of course they are. The current crisis is spreading to affect everything. But you keep whistling dixie and playing your fiddle while you do the superiority dance. (enough mixed metaphors for you?)

Nope... just looking at the reality.

I'm not sure you would recognize reality, if it hit you on the back of a semi-truck. With statements like, "And no, I'm not happy to see them lose their dreams. But they never really attained their dream, did they? They didn't need to earn it or do anything. The loan was just handed to them that they couldn't afford." Your lack of connection to the rest of the world is astounding.

What makes you think for even a minute that people who have less income, haven't earned anything? Do you think they don't get up every morning and go to work? Do you think their work is easier than others? The lady who cleans our office works seven days a week, and works three jobs. One of the jobs is loading freight trucks. Not a do-nothing-job the last time I looked. Nobody handed her a loan. She was sold a loan under the premise that she could refinance down the road. She put ten thousand dollars down, to get into her home. Should she have been more sophisticated about finance? Would have helped. But unfotunately she didn't have the money for college either. She's 58 years old, likely to lose her home the next time the rates adjust, and to this point never missed a payment in over five years. With the dropping property values, she cannot sell, cannot refinance, can only make payments till everything is lost. Oh, and to make things better, her 30 something supervisor told her that she should really look for other work because her seniority was getting so high, that they could hire two younger people for the same wage.

I don't know where you live, but the loan fairy didn't come through my neighborhood sprinkling money. The people in my town work and work hard for what they get. Your spew should be directed at the banks and loan companies who pocketed millions making this mess, not the working class.


10/07/2008 07:48:07 PM · #19
Originally posted by ambaker:

Originally posted by HawkeyeLonewolf:

Originally posted by posthumous:

Originally posted by HawkeyeLonewolf:

There have always been foreclosures and those created by hardship. But those are not relevant to the current crisis. That's all.


Of course they are. The current crisis is spreading to affect everything. But you keep whistling dixie and playing your fiddle while you do the superiority dance. (enough mixed metaphors for you?)


Nope... just looking at the reality.


I'm not sure you would recognize reality, if it hit you on the back of a semi-truck. With statements like, "And no, I'm not happy to see them lose their dreams. But they never really attained their dream, did they? They didn't need to earn it or do anything. The loan was just handed to them that they couldn't afford." Your lack of connection to the rest of the world is astounding.

What makes you think for even a minute that people who have less income, haven't earned anything? Do you think they don't get up every morning and go to work? Do you think their work is easier than others? The lady who cleans our office works seven days a week, and works three jobs. One of the jobs is loading freight trucks. Not a do-nothing-job the last time I looked. Nobody handed her a loan. She was sold a loan under the premise that she could refinance down the road. She put ten thousand dollars down, to get into her home. Should she have been more sophisticated about finance? Would have helped. But unfotunately she didn't have the money for college either. She's 58 years old, likely to lose her home the next time the rates adjust, and to this point never missed a payment in over five years. With the dropping property values, she cannot sell, cannot refinance, can only make payments till everything is lost. Oh, and to make things better, her 30 something supervisor told her that she should really look for other work because her seniority was getting so high, that they could hire two younger people for the same wage.

I don't know where you live, but the loan fairy didn't come through my neighborhood sprinkling money. The people in my town work and work hard for what they get. Your spew should be directed at the banks and loan companies who pocketed millions making this mess, not the working class.


You twist what I said. And add a lot that I didn't say.

SubPrime loans were high-risk by definition. The people either did not make enough real income, had no down payment, or had bad credit. There are some good people who benefitted from the greatly reduced standards, but no, they still did not "earn" had the standards been standards.
10/07/2008 08:16:49 PM · #20
Originally posted by HawkeyeLonewolf:

:):):) It's funny.

But it's not a sad but true reality. But I've seen one, ONE foreclosed house in our area.

These aren't normal, paying people who are losing their homes. It's high risk people that should never have been given a loan in the first place. Most of the problems are in certain areas where the housing bubble went unchecked. Look at reality not what the news shovels at you.


Hello ' . substr('//www.dpchallenge.com/images/user_icon/21_N.gif', strrpos('//www.dpchallenge.com/images/user_icon/21_N.gif', '/') + 1) . ' HawkeyeLonewolf

I am fascinated by your observation above. Congratulations on living in such a stable, wonderful place where everyone pays bills on time, has no financial emergencies, thus handling financial affairs so well that they are not affected by financial turmoil.

Especially by those others in ‘certain areas’ where the housing bubble went unchecked’. You do not tell us where you live. Perhaps it is not on the American continent?

Perhaps you will have the solution to what appears to most people as a crisis?

I would love to hear it.

As a retired person, who has been saving for this period of my life over many years, and who has invested as carefully as possible in safe securities, I now see my investments bleeding red ink. I see the brokerage house where I have done business for many years in existence in name only, probably because they had a lot of envelopes left over. I have seen the venerable bank where I have banked for decades go (excuse the expression) belly-up. I have also seen my careful savings of decades bleed red ink.

So, tell me, ' . substr('//www.dpchallenge.com/images/user_icon/21_N.gif', strrpos('//www.dpchallenge.com/images/user_icon/21_N.gif', '/') + 1) . ' HawkeyeLonewolf, You have heard a fair amount of reality in this thread, from lost jobs, to lost homes - and now you hear of lost savings.

What do you think the cause of this little problem we are having is. How do YOU think we should correct it – assuming of course, that you see a problem?

And I would really like your words. Not links to the words of others.

10/07/2008 08:17:49 PM · #21
Originally posted by sfalice:

Originally posted by HawkeyeLonewolf:

:):):) It's funny.

But it's not a sad but true reality. But I've seen one, ONE foreclosed house in our area.

These aren't normal, paying people who are losing their homes. It's high risk people that should never have been given a loan in the first place. Most of the problems are in certain areas where the housing bubble went unchecked. Look at reality not what the news shovels at you.


Hello ' . substr('//www.dpchallenge.com/images/user_icon/21_N.gif', strrpos('//www.dpchallenge.com/images/user_icon/21_N.gif', '/') + 1) . ' HawkeyeLonewolf

I am fascinated by your observation above. Congratulations on living in such a stable, wonderful place where everyone pays bills on time, has no financial emergencies, thus handling financial affairs so well that they are not affected by financial turmoil.

Especially by those others in ‘certain areas’ where the housing bubble went unchecked’. You do not tell us where you live. Perhaps it is not on the American continent?

Perhaps you will have the solution to what appears to most people as a crisis?

I would love to hear it.

As a retired person, who has been saving for this period of my life over many years, and who has invested as carefully as possible in safe securities, I now see my investments bleeding red ink. I see the brokerage house where I have done business for many years in existence in name only, probably because they had a lot of envelopes left over. I have seen the venerable bank where I have banked for decades go (excuse the expression) belly-up. I have also seen my careful savings of decades bleed red ink.

So, tell me, ' . substr('//www.dpchallenge.com/images/user_icon/21_N.gif', strrpos('//www.dpchallenge.com/images/user_icon/21_N.gif', '/') + 1) . ' HawkeyeLonewolf, You have heard a fair amount of reality in this thread, from lost jobs, to lost homes - and now you hear of lost savings.

What do you think the cause of this little problem we are having is. How do YOU think we should correct it – assuming of course, that you see a problem?

And I would really like your words. Not links to the words of others.


Read what I said and quit imagining.
10/07/2008 08:29:00 PM · #22
Originally posted by HawkeyeLonewolf:

Originally posted by sfalice:

[quote=HawkeyeLonewolf]


Read what I said and quit imagining.


I suppose I should have expected a nice little putdown.

10/07/2008 08:32:51 PM · #23
Originally posted by sfalice:

Originally posted by HawkeyeLonewolf:

Originally posted by sfalice:

[quote=HawkeyeLonewolf]


Read what I said and quit imagining.


I suppose I should have expected a nice little putdown.


The wasting of virtual breath is not recommended here, ' . substr('//www.dpchallenge.com/images/user_icon/21_F.gif', strrpos('//www.dpchallenge.com/images/user_icon/21_F.gif', '/') + 1) . ' sfalice. Sad, but true....
10/07/2008 08:56:07 PM · #24
Who's imagining here ' . substr('//www.dpchallenge.com/images/user_icon/21_N.gif', strrpos('//www.dpchallenge.com/images/user_icon/21_N.gif', '/') + 1) . ' HawkeyeLonewolf? Your crass and uncaring statements about people's dreams are disgusting. Is it only you rich conservatives who have dreams? Are the poorer people not allowed to have them? You comments remind me of the conservative stance taken just after Katrina, when several of my former friends made comments like "why can't they just pull up their boot straps like we do in my town?" or "if they were too stupid to leave, too bad, they deserved to die."

And do you really think this JUST started two weeks ago? No, our current occupant of the white house has been denying that anything is wrong for the last two or three years. It was only when it was so evident last December that he began acknowledging a "problem". Yet, the current right winger trying to get to the white house is still denying and ignoring the "problem", even two weeks ago saying our economy was "fundamentally strong".

As far as ' . substr('//www.dpchallenge.com/images/user_icon/21.gif', strrpos('//www.dpchallenge.com/images/user_icon/21.gif', '/') + 1) . ' soup.... your beer truck driver probably WILL lose his house... what gives you the idea that ANY part of the bailout is designed to keep an American in their home? You might want to read up on that... because the bailout only helps the banks and corporations rid themselves of the debt but does not protect the homeowner. It is all a part of the plan begun during the Reagan era and the beginning of deregulation and the "trickle down effect" strategy wherein all the rich people's money will filter down to us "commoners".

You cannot blame a person for taking advantage of what is being offered to pursue their "dream". You can wish them no ill will nor can you or should you make statements like you did, ' . substr('//www.dpchallenge.com/images/user_icon/21_N.gif', strrpos('//www.dpchallenge.com/images/user_icon/21_N.gif', '/') + 1) . ' HawkeyeLonewolf. Well, maybe you can and still sleep at night if you have no conscience. You want to blame somebody, look to the republicans who have pushed for deregulating every single industry and allowed them to police themselves.

Message edited by author 2008-10-07 20:56:41.
10/07/2008 08:59:19 PM · #25
Originally posted by HawkeyeLonewolf:

:):):) It's funny.

But it's not a sad but true reality. But I've seen one, ONE foreclosed house in our area.

These aren't normal, paying people who are losing their homes. It's high risk people that should never have been given a loan in the first place. Most of the problems are in certain areas where the housing bubble went unchecked. Look at reality not what the news shovels at you.


agreed
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