Oh my Fucking God!

theMAJORITY said:
Many were duped. I myself had one of those 20/80 loans, and I closed with 35 bucks. I told them I wanted fixed rates only--no ARM. It was sprung on me that the 20% loan was a arm at closing, making me feel I would be responsible for the deal going down for the realitor, the seller, and myself if I backed out of it.

That was the Country Wide snakes. I now have a fixed mortage with a small bank.

IMO--we need a deprssion to get Americans to quit thinking they have a right to instant gratification.
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Until you sign anything you have no obligation to anyone. You should have just walked out. They would have probably called you back the next day with a better offer.

I once had a broker prep a refinance deal and waited nearly two months to close. I told them I wanted 6% fixed, and was willing to wait as long as it took to get it. They tried everthing to get me to sign. Once they suggested that my appraisal would no longer be good; I simply I told them I'd get another appraisal. The rate was stuck at 6.375 and would not go lower. Finally the bank and the broker approached me with a deal: each would "buy down" 1/8 point, if I would agree to 6.125, essentially splitting the additional cost three ways. I took the deal, and I won.
 
LadyT said:
You have some strong feelings about government handouts. I take it you are are going to return your $600 rebate check from IRS in June.
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Since when is getting your own money back a hand-out? If you're middle class it's no handout.

The upper income folks get no money back
The middle class gets its own money back
The pooor get the money the upper class paid and aren't getting back.
 
Southern Man said:
Until you sign anything you have no obligation to anyone. You should have just walked out. They would have probably called you back the next day with a better offer.

I once had a broker prep a refinance deal and waited nearly two months to close. I told them I wanted 6% fixed, and was willing to wait as long as it took to get it. They tried everthing to get me to sign. Once they suggested that my appraisal would no longer be good; I simply I told them I'd get another appraisal. The rate was stuck at 6.375 and would not go lower. Finally the bank and the broker approached me with a deal: each would "buy down" 1/8 point, if I would agree to 6.125, essentially splitting the additional cost three ways. I took the deal, and I won.
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I should have walked--and I wanted to for principal--but I wanted that garage man. :)

It worked out OK--I quickly caught the last of the risky loans--the bank I used for the refinance apraised my home about 20% haigher than what it probably should be, so I don't have that PMI insurance (insurance you buy to protect the lending company---not sleezy?--lol). I have a good fixed now for it all.

Good negotiating on your part. I wanted what every dumb American wants---instant gratification--My business was growing, and I needed to buy. I was renting before--and doing work on my kitchen table. I did not let them screw me too long--but you do have a .5% better rate than I do. Good work. I wonder how far they would have went if you presisted? I can see, the more timee they have in you--the more they are invested also.
 
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Troglodyte27 said:
Since when is getting your own money back a hand-out? If you're middle class it's no handout.
The upper income folks get no money back
The middle class gets its own money back
The pooor get the money the upper class paid and aren't getting back.
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It seems that there is a double standard of what constitutes as a "hand-out". When the working poor, who pay state, federal and local taxes get money back from the government via food stamps, credits, housing, etc.... its considered a handout. When the middle class gets some of their taxes back its not handout?

Interesting.

I just wish you people would put all of this in a rule book so that I can keep track of it.

At the very least this is certainly income redistribution and I have yet to hear one receipient of said rebates complain one iota at the socialist injustice of it all.
 
gonzojournals said:
I never claimed to be compassionate--- I claim to be logical. That's why my politics are dictated by what is best for the country, not what helps Desh sleep at night.
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Being uncompassionate is not being logical.

You are just to sick to realize it.
 
theMAJORITY said:
I should have walked--and I wanted to for principal--but I wanted that garage man. :)

It worked out OK--I quickly caught the last of the risky loans--the bank I used for the refinance apraised my home about 20% haigher than what it probably should be, so I don't have that PMI insurance (insurance you buy to protect the lending company---not sleezy?--lol). I have a good fixed now for it all.

Good negotiating on your part. I wanted what every dumb American wants---instant gratification--My business was growing, and I needed to buy. I was renting before--and doing work on my kitchen table. I did not let them screw me too long--but you do have a .5% better rate than I do. Good work. I wonder how far they would have went if you presisted? I can see, the more timee they have in you--the more they are invested also.
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It looks like you ended up OK by avoiding that PMI. That probably allowed you to pay off the ARM portion.

My first mortgage was an ARM. This was back in the late 80's when interest rates were in the 12-13% range, recovering from the Carter years, and I was able to get an ARM at under 11. The first 2 years the Prime dropped, and the ARM stayed the same. Then the Prime stayed the same, and the ARM went up. It was about to go up a second time starting year 4 and the Prime dropped again, so I refinanced with a fixed. After the smoke cleared I figured the math and found out that I had still saved money, even with higher payments the last year, but would have lost big time had I let it ride.
 
Troglodyte27 said:
Since when is getting your own money back a hand-out? If you're middle class it's no handout.

The upper income folks get no money back
The middle class gets its own money back
The pooor get the money the upper class paid and aren't getting back.
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If they don't get taxed almost all of their disposable income to the government--they don't understand that. It is a hand out for people that don't pay taxes though.

The other reason whay they may call it a hand out if you get raped with taxes is because these socilaist commies don't think the money you earn belongs to you. They feel it belongs to the community. They just forgot the techinical words that describe that kind of taxation on income. Collectivists, socialism and communisum.

The "good for the all" is making sure your neighbor has as much freedom and individual liberity as possible---and that is definatly not socialism.

IMO---the words "the good for the all" or "Greater good" is a false tool to get people to conform to socialism, by making people, that take care of themselfs, rugged individuals--feel guilty that they can take care of themselfs.

That is how twisted it is--making you feel guiulty because you can take care of yourself. I think in Ladys case--she is just a nice woman with a good heart that does not want to see people suffer. I am with that, and I agree with her (you better be a lady damn it)--I don't want to see people suffer either. She is willing to trust a government to do the best things for people that could use a hand------where I am not. That really is about our only difference that I can see. I have absolutly no reason why I should trust our government for anything. I can do anythihng myself 10 times more effectively and help people directly and help them to be productive--not dependant.

Look at our public school system. If you have kids, you can donate directly to your school if you want---but we don't. Why don't we do that if we want the berst for our kids? Well--we don't do that because we now think it is the governments job to do that--thus--we suffer with crappy education the world is trouncing us with.
 
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Me said:
Troglodyte27 said:
Where have I, who only represents himself, said these things? Please don't project your perception of the positions of others on me.
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Trog5MinutesAgo said:
Since when is getting your own money back a hand-out? If you're middle class it's no handout.
The upper income folks get no money back
The middle class gets its own money back
The pooor get the money the upper class paid and aren't getting back.
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Once again: you people.
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You keep fighting the good fight LadyT. I just don't trust a government to do it well at all. I feel they do more harm than good. I am convinced that if we were able to elect people from other classes but the elite--many of these threatening issues would not exist.
 
Troglodyte27 said:
Hahahahahaha, really. Sorry, try again. Obviously you did not understand the point.
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translation: I just got pwnt by my own words and now I'm trying to back track even thought I explicity stated that the middle class tax rebates aren't handouts.

maybe you forgot what you wrote, I'll post it again to remind you:
Since when is getting your own money back a hand-out? If you're middle class it's no handout.
 
theMAJORITY said:
You keep fighting the good fight LadyT. I just don't trust a government to do it well at all. I feel they do more harm than good. I am convinced that if we were able to elect people from other classes but the elite--many of these threatening issues would not exist.
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Its not just what class they are from.

It who they owe favors to
 
If you pay income taxes---that money is yours. Income taxes are the only taxes I have issue with. I believe Ron Paul that if we had no income tax or IRS, we would have the same amount of money to fund the government we had a short 10 years ago.
 
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