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Topic: The American Dream
briancarr Joined Mon 12/17/07 Posts: 3310	Thu 10/02/08 08:02 PM
Is it fair too blame people for overusing Credit? Could you take advantage of some of the American Dreams without it?

johncarl Joined Mon 11/26/07 Posts: 5074	Thu 10/02/08 08:05 PM
the last person i talked to he charged 80 k on his. but who am i to judge.he is working every day to pay it back. i only work 3 days a week.

becca777 Joined Tue 08/05/08 Posts: 2161	Thu 10/02/08 08:07 PM
It is absolutely not fair to blame people for that. the banks, hand in hand with weak regulations, manipulated the people in that they COULD dream the american dream... 'here let us (the bank) HELP you in giving you a subprime loan knowing full well you can't pay it and we're going to take your house anyway....don't get too attached!' guess THAT didn't work huh?

ddn122 Joined Mon 11/05/07 Posts: 12855	Thu 10/02/08 08:09 PM
if you're unable to read you should not be blamed, really???? It is absolutely not fair to blame people for that. the banks, hand in hand with weak regulations, manipulated the people in that they COULD dream the american dream... 'here let us (the bank) HELP you in giving you a subprime loan knowing full well you can't pay it and we're going to take your house anyway....don't get too attached!' guess THAT didn't work huh?

becca777 Joined Tue 08/05/08 Posts: 2161	Thu 10/02/08 08:12 PM
if you're unable to read you should not be blamed, really???? It is absolutely not fair to blame people for that. the banks, hand in hand with weak regulations, manipulated the people in that they COULD dream the american dream... 'here let us (the bank) HELP you in giving you a subprime loan knowing full well you can't pay it and we're going to take your house anyway....don't get too attached!' guess THAT didn't work huh? well, with a college degree in law and a magnifying glass i guess you'll do ok

ddn122 Joined Mon 11/05/07 Posts: 12855	Thu 10/02/08 08:13 PM
don't sign anything you don't understand....... 3 words "real estate attorney"

briancarr Joined Mon 12/17/07 Posts: 3310	Thu 10/02/08 08:15 PM
if you're unable to read you should not be blamed, really???? It is absolutely not fair to blame people for that. the banks, hand in hand with weak regulations, manipulated the people in that they COULD dream the american dream... 'here let us (the bank) HELP you in giving you a subprime loan knowing full well you can't pay it and we're going to take your house anyway....don't get too attached!' guess THAT didn't work huh? well, with a college degree in law and a magnifying glass i guess you'll do ok You seem to really care Do you think people with good Credit, dont care about people that are having a hard time

markc48 Joined Wed 05/07/08 Posts: 5536	Thu 10/02/08 08:17 PM
if you're unable to read you should not be blamed, really???? It is absolutely not fair to blame people for that. the banks, hand in hand with weak regulations, manipulated the people in that they COULD dream the american dream... 'here let us (the bank) HELP you in giving you a subprime loan knowing full well you can't pay it and we're going to take your house anyway....don't get too attached!' guess THAT didn't work huh? No People thought they would get it refinance when the arm started. And were led to beleive that they could. I bought my first one on a land contract stll paying 9% Banks were stupid not to refinance them. Then they wouldn't have all these houses.

becca777 Joined Tue 08/05/08 Posts: 2161	Thu 10/02/08 08:19 PM
precisely

becca777 Joined Tue 08/05/08 Posts: 2161	Thu 10/02/08 08:20 PM
if you're unable to read you should not be blamed, really???? It is absolutely not fair to blame people for that. the banks, hand in hand with weak regulations, manipulated the people in that they COULD dream the american dream... 'here let us (the bank) HELP you in giving you a subprime loan knowing full well you can't pay it and we're going to take your house anyway....don't get too attached!' guess THAT didn't work huh? well, with a college degree in law and a magnifying glass i guess you'll do ok You seem to really care Do you think people with good Credit, dont care about people that are having a hard time it's not about people with good credit versus people having a hard time. it's about the banks getting greedy and paying a nice little donation to the government for a pat on the back and more lenient regulations

markc48 Joined Wed 05/07/08 Posts: 5536	Thu 10/02/08 08:21 PM
if you're unable to read you should not be blamed, really???? It is absolutely not fair to blame people for that. the banks, hand in hand with weak regulations, manipulated the people in that they COULD dream the american dream... 'here let us (the bank) HELP you in giving you a subprime loan knowing full well you can't pay it and we're going to take your house anyway....don't get too attached!' guess THAT didn't work huh? well, with a college degree in law and a magnifying glass i guess you'll do ok College degree or not, If you have money invested your losing

ddn122 Joined Mon 11/05/07 Posts: 12855	Thu 10/02/08 08:21 PM
if your credit is good you can get refinanced.... if you don't understand the risks...don't sign.. in the past if you didn't have 20% down(equity) you couldn't get a loan....but that was before the "back door" wealth redistribution program was put in place

becca777 Joined Tue 08/05/08 Posts: 2161	Thu 10/02/08 08:22 PM Edited by becca777 on Thu 10/02/08 08:23 PM
College degree or not, If you have money invested your losing especially now that they passed such a ludicrous plan

becca777 Joined Tue 08/05/08 Posts: 2161	Thu 10/02/08 08:24 PM
if your credit is good you can get refinanced.... if you don't understand the risks...don't sign.. in the past if you didn't have 20% down(equity) you couldn't get a loan....but that was before the "back door" wealth redistribution program was put in place that was when banks were more honest and you didn't have to worry about your dollar now....don't miss a payment...your interest shoots up, your payment shoots up and oops...you're homeless.... it's all in that fine print on page 25 that looks like a line drawn on the bottom of the page!

markc48 Joined Wed 05/07/08 Posts: 5536	Thu 10/02/08 08:27 PM
College degree or not, If you have money invested your losing especially now that they passed such a ludicrous plan I havent seen This new plan I heard one passed the senate and was going to the house. this is going to help people with money invested and help the economy. People are just so mad at the idea they arent thinking straight.

briancarr Joined Mon 12/17/07 Posts: 3310	Thu 10/02/08 08:28 PM
if your credit is good you can get refinanced.... if you don't understand the risks...don't sign.. in the past if you didn't have 20% down(equity) you couldn't get a loan....but that was before the "back door" wealth redistribution program was put in place that was when banks were more honest and you didn't have to worry about your dollar now....don't miss a payment...your interest shoots up, your payment shoots up and oops...you're homeless.... it's all in that fine print on page 25 that looks like a line drawn on the bottom of the page! Dont you also think it has something to do with the price of everything else being so high, it makes you have too extend your Credit even more. How can you save 10-20% when you are tring too pay for everything else?

Riding_Dubz Joined Wed 05/21/08 Posts: 22110	Thu 10/02/08 08:29 PM
I love my american express card !

ddn122 Joined Mon 11/05/07 Posts: 12855	Thu 10/02/08 08:30 PM Edited by ddn122 on Thu 10/02/08 08:30 PM
then you shouldn't be a home owner if you don't have 20% if your credit is good you can get refinanced.... if you don't understand the risks...don't sign.. in the past if you didn't have 20% down(equity) you couldn't get a loan....but that was before the "back door" wealth redistribution program was put in place that was when banks were more honest and you didn't have to worry about your dollar now....don't miss a payment...your interest shoots up, your payment shoots up and oops...you're homeless.... it's all in that fine print on page 25 that looks like a line drawn on the bottom of the page! Dont you also think it has something to do with the price of everything else being so high, it makes you have too extend your Credit even more. How can you save 10-20% when you are tring too pay for everything else?

becca777 Joined Tue 08/05/08 Posts: 2161	Thu 10/02/08 08:30 PM
if your credit is good you can get refinanced.... if you don't understand the risks...don't sign.. in the past if you didn't have 20% down(equity) you couldn't get a loan....but that was before the "back door" wealth redistribution program was put in place that was when banks were more honest and you didn't have to worry about your dollar now....don't miss a payment...your interest shoots up, your payment shoots up and oops...you're homeless.... it's all in that fine print on page 25 that looks like a line drawn on the bottom of the page! Dont you also think it has something to do with the price of everything else being so high, it makes you have too extend your Credit even more. How can you save 10-20% when you are tring too pay for everything else? i agree with you on that one. the increase in prices DOES make an impact on that...but the bending of the regulations from government to allow the banks to screw the average american joe out of his home like this is unimaginable....

markc48 Joined Wed 05/07/08 Posts: 5536	Thu 10/02/08 08:32 PM Edited by markc48 on Thu 10/02/08 08:36 PM
if your credit is good you can get refinanced.... if you don't understand the risks...don't sign.. in the past if you didn't have 20% down(equity) you couldn't get a loan....but that was before the "back door" wealth redistribution program was put in place that was when banks were more honest and you didn't have to worry about your dollar now....don't miss a payment...your interest shoots up, your payment shoots up and oops...you're homeless.... it's all in that fine print on page 25 that looks like a line drawn on the bottom of the page! Dont you also think it has something to do with the price of everything else being so high, it makes you have too extend your Credit even more. How can you save 10-20% when you are tring too pay for everything else? Look see those commercials about buying tax sale properties. They are real and realtors are selling them. Handy with a paint brush and a hammer You can buy a house without a loan I bought two this year.1 is an $80000 for $10500, And the other was 79000 for $5000. one is rented and bringing me cash. The other I am still working on.