Obama what are you going to do about this

[TURBO]

Can't see how any business would intelligently allow this guy to buy another home.

Why not �I have good credit the mortgage is up to date we'll try to keep both houses. Theres a house for rent in PSL if anyone interested lol.

You said in the first post "yes im walking away from my mortgage down in FL".

yup, apparantly he was double talking...  freeloading jerkoff.

when you walk away from a mortgage, guess who covers your worthless behind moron?

that's right, everyone else.

you pulled a scuzzy, sleazy act.

[SnookAU]

that's right, everyone else.

Not entirely true... The only people that cover for it are the responsible, upstanding people who actually pay their bills.  

[TURBO]

Can't see how any business would intelligently allow this guy to buy another home.

Why not �I have good credit the mortgage is up to date we'll try to keep both houses. Theres a house for rent in PSL if anyone interested lol.

You said in the first post "yes im walking away from my mortgage down in FL".

Cant sell it. Will try to rent it. But most likely saying bye bye to it.

you should be real proud of yourself.

trash.

[MrFreakinMiyagi]

I just recently bought a house here in NC yes im walking away from my mortgage down in FL. I did the pros and cons of it. Lets see 7 years of bad credit vs 7 years of struggling. Does Obama expect the American people to struggle paying a mortgage when in the last 2 years all of a sudden people owe more on there house then its worth. They bail out the banks but how about giving me back the $90000 that i lost in equity. My mortgage just went from $1200 to $500 not to mention taxes and insurance are'nt even a 3rd of the property taxes i ws paying in FLA. If your in a bad spot with your mortgage you might want to consider doing what i did. I already own 2 vehicles and im 2 years in on an brand new 07 cobalt so should i care about my credit.

You're a stand up kinda fella.

I hope you don't have any kids.

[TURBO]

that's right, everyone else.

Not entirely true... The only people that cover for it are the responsible, upstanding people who actually pay their bills. 

ya got me, my bad...

 

[TURBO]

I just recently bought a house here in NC yes im walking away from my mortgage down in FL. I did the pros and cons of it. Lets see 7 years of bad credit vs 7 years of struggling. Does Obama expect the American people to struggle paying a mortgage when in the last 2 years all of a sudden people owe more on there house then its worth. They bail out the banks but how about giving me back the $90000 that i lost in equity. My mortgage just went from $1200 to $500 not to mention taxes and insurance are'nt even a 3rd of the property taxes i ws paying in FLA. If your in a bad spot with your mortgage you might want to consider doing what i did. I already own 2 vehicles and im 2 years in on an brand new 07 cobalt so should i care about my credit.

You're a stand up kinda fella.

I hope you don't have any kids.

lol

most freeloaders like this guy have a whole litter of kids, as long as the government pays for them, why not have more, the more the merrier...

[cyberdude557]

I just recently bought a house here in NC yes im walking away from my mortgage down in FL. I did the pros and cons of it. Lets see 7 years of bad credit vs 7 years of struggling. Does Obama expect the American people to struggle paying a mortgage when in the last 2 years all of a sudden people owe more on there house then its worth. They bail out the banks but how about giving me back the $90000 that i lost in equity. My mortgage just went from $1200 to $500 not to mention taxes and insurance are'nt even a 3rd of the property taxes i ws paying in FLA. If your in a bad spot with your mortgage you might want to consider doing what i did. I already own 2 vehicles and im 2 years in on an brand new 07 cobalt so should i care about my credit.

You're a stand up kinda fella.

I hope you don't have any kids.

lol

most freeloaders like this guy have a whole litter of kids, as long as the government pays for them, why not have more, the more the merrier...

Now since you've pissed him off, he'll go buy Panthers season tickets.

[escobar]

I don't know why so many people are giving this guy a hard time. I personally know two people who have had to do this very thing. One is a single guy who got transferred to NC for work, he lived in a townhouse in Sarasota and put it up for sale the moment he found out he was going to transfer. It sat on the market for well over a year without a single offer and by the time that time period was up he was upside down by over 60k. His employer helped cover the cost of his apartment in NC for 6 months but when they stopped he simply couldn't afford his Florida mortgage combined with his rent in NC. He is far from a "free loader" as many of you have called the OP.

The other person I know who is currently going through this situation is a friend I've known since I was 6 years old. Point is I know him well. He is one of the nicest guys you will ever meet and does everything he can to take care of his family. He is married with two kids, roughly two years ago he purchased a condo. Not only has the value gone down the crapper, but the community is putting in a new roof and is charging EACH owner 50k for the cost. His HOA fees are also over 600 per month. The guy works two jobs, well over 70 hours a week with only one day off per week and has for quite a while. Trying to avoid the 50k fee they put the condo on the market, well I'm sure you can guess they haven't had a single offer. So they are walking away. They have kids to feed and aren't going to take on an extra 50k in debt.

Not everyone is looking for a hand out.

[cyberdude557]

You can blame the Democrats, Barney Frank, Chris Dodd, Bill Clinton, and Wall Street for the housing crisis. They removed the red-lines, and provoked and forced banks to make bad loans. Suddenly everyone can buy a house even if they couldn't afford it. When the bubble burst, suddenly everyone is in foreclosure. All this also opened the door to preditory lending practices and scam artists.

Republicans are also to blame for letting it happen and doing nothing to stop it.

[keeponbucn]

The other person I know who is currently going through this situation is a friend I've known since I was 6 years old. Point is I know him well. He is one of the nicest guys you will ever meet and does everything he can to take care of his family. He is married with two kids, roughly two years ago he purchased a condo. Not only has the value gone down the crapper, but the community is putting in a new roof and is charging EACH owner 50k for the cost. His HOA fees are also over 600 per month.

Doesn't matter how nice he is, the guy made a poor decision by investing in a condo, 2 years ago mind you, when condo's at the peak were the worst invesments possible. Let me guess, it was an apartment converted into a condo. He made a poor decision, $600/month HOA should have been a red flag from jump with 2 kids and a wife. Investing is about making decisions that protect your future, not ones that make you feel good in the moment.

[bradentonian]

You can blame the Democrats, Barney Frank, Chris Dodd, Bill Clinton, and Wall Street for the housing crisis. They removed the red-lines, and provoked and forced banks to make bad loans. Suddenly everyone can buy a house even if they couldn't afford it. When the bubble burst, suddenly everyone is in foreclosure. All this also opened the door to preditory lending practices and scam artists.

Republicans are also to blame for letting it happen and doing nothing to stop it.

Nobody forced banks to make bad loans.  They were making money hand over fist by originating loans without having to worry about the risk.  The more loans they originated, the more money they made.  It doesn't take a brain surgeon to realize that when risk=/= reward problems won't be too far behind.

[Biggs3535]

Nobody forced banks to make bad loans.

That's precisely what the CRA did, or they were discriminating.

[cyberdude557]

1 in 5 homeowners are upside-down in their mortgages. 12% of homeowners are either late, in default, or foreclosure. Lots of people are having problems these days.

So this is a very real problem.

[SnookAU]

You can blame the Democrats, Barney Frank, Chris Dodd, Bill Clinton, and Wall Street for the housing crisis. They removed the red-lines, and provoked and forced banks to make bad loans. Suddenly everyone can buy a house even if they couldn't afford it. When the bubble burst, suddenly everyone is in foreclosure. All this also opened the door to preditory lending practices and scam artists.

Republicans are also to blame for letting it happen and doing nothing to stop it.

Quit separating our government into Ds and Rs and just realize that its all corrupt and inefficient.

[dalbuc]

I agreed on a $150000 loan on a house at the time was worth $179000. Now the house is appraised at $89000. The days of trying to get that $1200 plus payment in time are behind me. We can enjoy life alot more now. They told me insurance was $350. I asked if that was quarterly they said nope thats for the whole year I almost fell out of my seat when they said that especially when are taxes in FLA were $2700 for the year.

Yeah so where was it written that you had a guarantee on your house increasing in value? What a bit of jack-a$$ery. Should the bak be able to come back when your house goes up in value and increase your mortgage? Oh wait, bloody hell you'd let 'em do that. **CENSORED**.