More Predatory Lending Victims

[crb]

http://www.usnews.com/blogs/the-home-front/2008/07/29/extreme-makeover-home-in-foreclosure.html

These losers got...

1. a 450k house
2. a free trip to disney while the house was being worked on.
3. money to cover taxes for 25 years

A few years ago when watching HGTV I would get so annoyed watching some show that starts like this "Jill is a stay at home mom, Paul is in sales and makes $35,000 a year. They're looking for a new home, their budget is $800,000."

I'm sorry, but irresponsible people SHOULD lose their homes.

http://consumerist.com/consumer/clips/snl-skit-dont-buy-stuff-you-cant-afford-252491.php

[Trouble]

Lol I was waiting for this to appear on the PC.

The trick with these idiots is that they took a mortgage out on the property after it was completed so they could buy cars and random shit. As if a free house wasn't enough to begin with...

[Skeeter]

Those poor people. The government should bail them out.

[Warriorbird]

I love blaming all victims due to a few idiots.

People borrowed more than they should have... but banks also pretty much didn't reject ANYBODY.

[CrystalTears]

Banks are just as guilty as the borrower, but I'd like it if the borrower admitted that they were buying over the head.

Just because the bank or realtor tells you that you can afford it, not to worry about it, when the house costs $800,000 and you make $51,000 a year, doesn't mean you should act on it either.

[Parkbandit]

I love blaming all victims due to a few idiots.

People borrowed more than they should have... but banks also pretty much didn't reject ANYBODY.

I love how you used the term 'victim' there... and meant it.

[crb]

Some banks are just as guilty, and they're getting they're rewards. Bear Sterns wasn't bailed out, it was sold for pennies on the dollar, shareholders and management got screwed, and rightfully so.

The thing is though, if an applicant lies to the bank, then it really isn't the bank's fault. I mean, the bank deserves what they get for not checking up on things, but the bank certainly did not victimize the borrower.

[Stanley Burrell]

I will never take out a loan, unless it's being used to directly save lives on a medical bill, or something. This is some scary shit. And all the articles and wanton news harlotry about it intimidates me.

I will not take out loans on your money. Vote for me.

[Parkbandit]

I will never take out a loan, unless it's being used to directly save lives on a medical bill, or something. This is some scary shit. And all the articles and wanton news harlotry about it intimidates me.

I will not take out loans on your money. Vote for me.

Your life goals must really be lofty.

[sst]

I love blaming all victims due to a few idiots.

People borrowed more than they should have... but banks also pretty much didn't reject ANYBODY.

Victims do their research and know what they are getting into. In the days of the internet there is no excuse for not being informed on the different types of loans.

Victims do the math and know what they can afford and then have unforeseeable circumstances destroy their finances.

A vast majority of these are idiots, not victims.

[TheEschaton]

From the head idiot himself.

[Gan]

Those poor people. The government should bail them out.
QFT


Banks are just as guilty as the borrower, but I'd like it if the borrower admitted that they were buying over the head.

Just because the bank or realtor tells you that you can afford it, not to worry about it, when the house costs $800,000 and you make $51,000 a year, doesn't mean you should act on it either.
QFT x 2


Victims do their research and know what they are getting into. In the days of the internet there is no excuse for not being informed on the different types of loans.

Victims do the math and know what they can afford and then have unforeseeable circumstances destroy their finances.

A vast majority of these are idiots, not victims.
/agreed

[Stanley Burrell]

Your life goals must really be lofty.

:wtf: is lofty about becoming an RL samurai?

When I was little, my father was famous: He was the greatest samurai in the empire; and he was the Shogun's decapitator...

He cut off the heads of a hundred and thirty-one lords. It was a bad time for the empire...

The Shogun just stayed inside his castle -- And he *never* came out: People said his brain was infected by DEVILS.

My father would come home -- he would forget about the killings. He wasn't scared of the Shogun, but the Shogun was scared of him.

Maybe that was the problem...

Then, one night... the Shogun sent his ninja spies to our house. They were supposed to kill my father... but they didn't.

That, was the night, everything changed. Forever.

That was when my father left his samurai life and became a demon. And he took me with him.

I ... Don't remember most of this myself. I only remember the Shogun's ninja hunted us wherever we went. And the bodies falling.

...And the blood.

[Warriorbird]

Gullible and stupid people get victimized. We elected Bush twice, didn't we?

[Gan]

Gullible and stupid people get victimized. We elected Bush twice, didn't we?

Some people say the same thing about Clinton...

[NocturnalRob]

Gullible and stupid people get victimized. We elected Bush twice, didn't we?

i was wondering how long it would take some douchebag to bring Bush into the thread. Thanks for obliging, WB.

[Warriorbird]

And the Clinton counter which I expected... so everybody can feel like the whole country got duped at one point recently.

I think it actually goes to my point.

:)

[sst]

Gullible and stupid people get victimized. We elected Bush twice, didn't we?

so we should coddle the gullible and stupid and provide them a safety net for not thinking things though?

I think not.

People need to learn from their mistakes, and hopefully in 10 years when their life situation changes and they can move out of an apartment and own a house again they will be smarter for it and not make the mistake again.

[Gan]

And the Clinton counter which I expected... so everybody can feel like the whole country got duped at one point recently.

I think it actually goes to my point.

:)

Thank God for the Electoral College then...

[sst]

From the head idiot himself.

I'm sorry I don't feel sympatheic when people do stupid shit, Thats why I dont feel bad for your parents.

[Warriorbird]

People and banks are at fault. I just don't think we should lay it entirely on the people.

That doesn't do us much good when we try to help the mortgage process/economy.

[Stanley Burrell]

Was I the only growing up who had "When you don't pay back loans, the mafia comes for you and breaks your kneecaps, with the government, shrewd bankers and E. Honda?" or "You're not the one making money when you borrow it." Or, like, "Don't trust those moneylending Jews" hashed out at them all the time?

You guys are fucking brave, I can't believe this. Owing money to the government is scary. Fucking. Feces. Weren't you all beat over the head with this too? SUFFER LIKE I DID GODDAMN IT.

[sst]

People and banks are at fault. I just don't think we should lay it entirely on the people.

That doesn't do us much good when we try to help the mortgage process/economy.

I agree the banks are at fault too. I wish we didnt have to bail those that are falling apart out. I think we should do far less to aid them than the provisions of the bill that was just passed. They took a risky investment and are paying for it and sould reap the rewads of luck not going their way.

I still put 75% of the blame on the people stupid people who didn't do the research to make sure they could emet the terms before signing into a contract.

[Gan]

I'm sorry I don't feel sympatheic when people do stupid shit, Thats why I dont feel bad for your parents.

:rofl:

[Furrowfoot]

I agree the banks are at fault too. I wish we didnt have to bail those that are falling apart out. I think we should do far less to aid them than the provisions of the bill that was just passed. They took a risky investment and are paying for it and sould reap the rewads of luck not going their way.

I still put 75% of the blame on the people stupid people who didn't do the research to make sure they could emet the terms before signing into a contract.

/agree - there's nothing more I would love than to get out of the cycle of renting than I'm in right now - but I also don't want to just step into the cheapest thing I can afford right now. I was approved for a loan on a place that I would have been VERY strapped if I had taken - but I realized that would be cutting it way too close and that life's unexpected expenses would make it even more taxing. So now, I'm saving what I can, dealing with renting a place I'm happy with until I can comfortably afford my own place that I'll also be happy with.

[Drunken Durfin]

We elected Bush twice, didn't we?

Many would argue that we didn't.

I am one of them.