How to fix the mortgage industry -- McCain's plan

speedygirl · 10-09-2008, 03:08 AM

Wow that's great! You can't rent for that! We have only a few more years left on ours and then I can breathe easier.

janelle · 10-09-2008, 03:16 AM

Obama will have to do the same thing and he will if he gets in. I just wish those who made a fortune from these loans would have to pay the difference to keep the house at it's current value or go to jail.

anothersta · 10-09-2008, 03:18 AM

In all honesty, I still don't understand why we are to bail out the housing market. I tend to be more sympathetic to someone who lost a job and needs a few months to get back on track rather than someone who went in hook, line and sinker for something they knew they couldn't afford.

tngirl · 10-09-2008, 03:56 AM

Quote:

Originally Posted by janelle

Obama will have to do the same thing and he will if he gets in. I just wish those who made a fortune from these loans would have to pay the difference to keep the house at it's current value or go to jail.

Why would he have to do the same thing? Why does ANYONE have to do it? It is a bad idea following a bad idea. Let the dumbasses loose their house, they are the ones that were greedy in the first place trying to buy something that they couldn't afford. I can't afford to buy a house like that...why should I have to be paying for a house that I can't even live in?

The plan just does NOT make economic sense.

gmyers · 10-09-2008, 04:34 AM

How in the world can people afford over a thousand dollars for a house payment or rent. Even with two people working it seems like you'd have to bring home five or six thousand a month and then it would still be tight. I wouldn't want a house, no matter how rich I am, that costs that much. To me its like throwing money away. I think some of the housing problem is the outrageous prices of houses these days. I don't see how people can buy some of them nowadays.

YNKYH8R · 10-09-2008, 08:17 AM

Quote:

Originally Posted by atprm

I agree with you...

McCain sounded just like Biden when he said we must take past due mortgages and adjust them down to what the houses are now actually worth! No way. That's not right. It's not fair to the rest of us who paid our mortgages while sacrificing in other areas. This means if you bought a house for $300,000 that you could not afford and it's value has now dropped to $150,000, your mortgage principal will be adjusted down to $150,000. Bull crap! This is once again rewarding those who didn't pay their bills. No one is going to adjust my principal down because I actually pay my mortgage on time each month. Those of us who are responsible will not have our mortgages adjusted down.

Hearing this from the "Republican" on stage made me want to puke. I am convinced that we will be a mostly socialist country in the next year. McCain is calling for the nationalization of mortgages. This means the government will hold and adjust mortgages as it sees fit.

In the end I am forced with "the lesser of two evils" and SOCIALISM, COMMUNISM, MARXISM is NOT in my vocabulary as a way of life -- been there, seen that... don't want that at all.

So despite me agreeing with tn_girl on this solitary issue (there are probably more), I will still vote republican because Obama is not the answer or the messiah.

YNKYH8R · 10-09-2008, 08:20 AM

Quote:

Originally Posted by atprm

either way... I don't like it.

but considering that is one of the few points that I don't like with mccain...there is nothing about Obama that I like at all.

The thing I find funny is that you always find a way to bring Obama's name into a conversation that has nothing to do with him.

You are obsessed.....

Admit it.

I mean...you talk more about Obama then the supporters.

YNKYH8R · 10-09-2008, 08:24 AM

Quote:

Originally Posted by gmyers

How in the world can people afford over a thousand dollars for a house payment or rent. Even with two people working it seems like you'd have to bring home five or six thousand a month and then it would still be tight. I wouldn't want a house, no matter how rich I am, that costs that much. To me its like throwing money away. I think some of the housing problem is the outrageous prices of houses these days. I don't see how people can buy some of them nowadays.

We pay that. Have been for 5 years now. And when we first bought the house our combined income equaled $18.00 an hour. ANd we still don't make 5 or 6k a month...never have.

YNKYH8R · 10-09-2008, 10:16 PM

When we bought our house it was worth 150,000. It went up in value over 50,000 in nine months.

***ahippiechic*** · 10-09-2008, 10:29 PM

Quote:

Originally Posted by YNKYH8R

We pay that. Have been for 5 years now. And when we first bought the house our combined income equaled $18.00 an hour. ANd we still don't make 5 or 6k a month...never have.

I pay close to that in rent for an apt, not even a house.

atprm · 10-09-2008, 10:33 PM

Quote:

Originally Posted by YNKYH8R

The thing I find funny is that you always find a way to bring Obama's name into a conversation that has nothing to do with him.

You are obsessed.....

Admit it.

I mean...you talk more about Obama then the supporters.

just like any other Conservative on this website.

No news there Adam.

Osama err Obama shouldn't have supporters.

10-09-2008, 03:08 AM	#12 (permalink)
speedygirl Mass-hole Patrol Join Date: Apr 2006 Location: New England Posts: 3,956 iTrader: (0) Thanks: 1,488 Thanked 2,160 Times in 1,183 Posts	Wow that's great! You can't rent for that! We have only a few more years left on ours and then I can breathe easier. __________________ "A wise man makes his own decisions, an ignorant man follows the public opinion."

10-09-2008, 10:16 PM	#20 (permalink)
YNKYH8R I'm a smarta$$ Join Date: Jul 2004 Location: RedSox Nation Posts: 3,637 iTrader: (0) Thanks: 248 Thanked 659 Times in 320 Posts	When we bought our house it was worth 150,000. It went up in value over 50,000 in nine months. __________________ "The world will look up and shout save us; and I'll whisper no." R U WE TAH DID?

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10-09-2008, 03:16 AM	#13 (permalink)
janelle Registered User Join Date: Oct 2000 Posts: 20,468 iTrader: (1) Thanks: 466 Thanked 1,174 Times in 763 Posts	Obama will have to do the same thing and he will if he gets in. I just wish those who made a fortune from these loans would have to pay the difference to keep the house at it's current value or go to jail.

10-09-2008, 03:18 AM	#14 (permalink)
anothersta Registered User Join Date: Sep 2008 Posts: 637 iTrader: (0) Thanks: 556 Thanked 500 Times in 266 Posts	In all honesty, I still don't understand why we are to bail out the housing market. I tend to be more sympathetic to someone who lost a job and needs a few months to get back on track rather than someone who went in hook, line and sinker for something they knew they couldn't afford.

10-09-2008, 04:34 AM	#16 (permalink)
gmyers Registered User Join Date: Feb 2004 Posts: 3,535 iTrader: (0) Thanks: 137 Thanked 915 Times in 509 Posts	How in the world can people afford over a thousand dollars for a house payment or rent. Even with two people working it seems like you'd have to bring home five or six thousand a month and then it would still be tight. I wouldn't want a house, no matter how rich I am, that costs that much. To me its like throwing money away. I think some of the housing problem is the outrageous prices of houses these days. I don't see how people can buy some of them nowadays.