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Chrisfish

mortgage relief

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92% of Americans make their payments on time yet we are getting nothing but the tax bill for those who made poor decisions with their purchases and now can't afford it.

Let the free market come in and let some people calim to be winners for others who have to lose.

 

Just one man's opinion

C

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Put the 8% on the street....let home values drop and let the 92% feed on the surplus........

 

I can not help but believe that letting 8% control 92% is anything less than a media contrived frenzy.

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If I'm on time, can I get any of this relief? If I start screwing up now, will I be able to get some?

 

I need to figure out how to get in on this, free money rules.

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Banks hold many different kinds of investments, mortgages are just one component. If two of the unholy four banks (Chase, Citi, Bank of America and Wells Fargo) can not weather a 5% loss on one part of their investment portolio, then I say good riddance and let's put the rest of their portfolio up for sale.

 

Again, just one man's opinion, but seriously, why not let the markets do what they do best - one winner and one loser in every transaction.

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View PostIf I'm on time, can I get any of this relief? If I start screwing up now, will I be able to get some?

 

I need to figure out how to get in on this, free money rules.

 

 

Friends are struggling paying their bills and had to fold up their own business. Trying to refinance they were basically told they need to not pay for two months and then they could get some help.headscratch.gif

 

Something just not right about all thatkooky.gif

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View PostFriends are struggling paying their bills and had to fold up their own business. Trying to refinance they were basically told they need to not pay for two months and then they could get some help.headscratch.gif

 

Something just not right about all thatkooky.gif

 

We heard so many stories on the news about companies adjusting their rates for customers so we gave Countrywide a call. They won't do anything for someone like us with a 800+ credit score that was never late on a payment but if we skip a few months payments they'll lower our rate.

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after being beaten down by mass stupidity in the political forum, all I can say is Im sorry. Im sorry for all the people wo took care of their stuff being dragged down by lesser people than they.

 

I live a very simple existence, Im happy with it. Im pretty angry with the current downward spiral our governemnt has taken though.

 

I wonder if Ill ever be able to vote third party again, or if what Im feeling right now will have me voting for a party I dont entirely agree with but one I know is far less worse than what we have now. I pray for merciful apathy.

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View PostIf I start screwing up now, will I be able to get some?

 

I need to figure out how to get in on this, free money rules.

 

 

View PostTrying to refinance they were basically told they need to not pay for two months and then they could get some help.headscratch.gif

 

Something just not right about all thatkooky.gif

 

 

We bought a two family thinking it would be a good investment over time. We recently inquired about refinancing and were told Fannie Mae was frowning on multi-units as at this time and would PENALIZE us for having one with a higher rate! We couldn't believe it so we shopped around, and got the same answer at another bank! So here we are, 7 years into a home we bought as an investment: can't refi cause we're penalized, can't sell cause the property values have tanked, and can't get a better rate because we conscientously purchased what we could afford and have made all our payments on time. We really didn't want to live in a 2 fam forever, but it's looking more and more likely because we were knowledgeable enough not to purchase more than we could afford as first time buyers. It's not that bad, but it is VERY frustrating to see someone get a point or two better rate than I can get when they're in default on a loan they should have known they couldn't afford when they signed on the dotted lines.

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View Post but seriously, why not let the markets do what they do best - one winner and one loser in every transaction.

 

 

I thought there should be two winners for every transaction....headscratch.gif

shouldn't BOTH parties be getting something they value more?

money in exchange for a good or service?

 

If people don't desire what the other party is offering, MORE than what they are giving up in the transaction, maybe they shouldn't enter into it.

 

win-win baby,

it's what I'm all about.

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I can sympathize stripstrike. The fiance and I are in our first house just over a year and it sucks that values are spiraling down and we really have no recourse. We did "refinance" a bit about 6 months ago, consolidating a 80/20 mortgages to avoid PMI deal, and rate was ok. This was with Countrywide and they did work with us and payments did go down a bit. No great improvement but took care of the 20% mortgage that we were jacked up on during closing and had a huge ballon payment at the end...even our lawyer said it was a blatant bait-n-switch.mad.gif

 

We're making our payments as we had budgeted from the get-go since we went with what we knew we could afford and not what the banks wanted to give us.kooky.gif They seemed to want us to bite off more than we could handle even just a year agoheadscratch.gif

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View PostNo great improvement but took care of the 20% mortgage that we were jacked up on during closing and had a huge ballon payment at the end...even our lawyer said it was a blatant bait-n-switch.mad.gif

 

 

 

Did your lawyer do anything about that?

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