HOUSE FOR SALE

[theGibber1]

The failed economy strikes again. Thanks to company cut backs my friend and next door neighbor John has lost his job.

He had his beautiful custom home built for around 500k and is now trying to sell it for 360.

Link
http://www.mckinneyhomerebate.com/i...4-lindsay-the-colony-the-tribute/details.html

John has four kids. Two in college and one a senior in high school who will attend college next year.

He has gone door to door to pick up lawn mowing jobs from everyone in our neighborhood to make house payments until the house sells. Neighbors have been more than generous. I think everyone on our street uses him.

His familys loss is your gain!
Hope and change! Yes we can!

Give me a break :sadwave:

 

[WhatsHisNuts]

The failed economy strikes again. Thanks to company cut backs my friend and next door neighbor John has lost his job.

He had his beautiful custom home built for around 500k and is now trying to sell it for 360.

Link
http://www.mckinneyhomerebate.com/i...4-lindsay-the-colony-the-tribute/details.html

John has four kids. Two in college and one a senior in high school who will attend college next year.

He has gone door to door to pick up lawn mowing jobs from everyone in our neighborhood to make house payments until the house sells. Neighbors have been more than generous. I think everyone on our street uses him.

His familys loss is your gain!
Hope and change! Yes we can!

Give me a break :sadwave:

Yeah, it must be Obama's fault.

Sorry he lost his job and sorry he bought more house than he could afford. Sucks.

 

[Trampled Underfoot]

Yeah, it must be Obama's fault.

Sorry he lost his job and sorry he bought more house than he could afford. Sucks.

My sentiments exactly.

 

[Cie]

Yeah, it must be Obama's fault.

Sorry he lost his job and sorry he bought more house than he could afford. Sucks.

My sentiments exactly.

no two ways about it

 

[Trampled Underfoot]

The failed economy strikes again. Thanks to company cut backs my friend and next door neighbor John has lost his job.

He had his beautiful custom home built for around 500k and is now trying to sell it for 360.

Link
http://www.mckinneyhomerebate.com/i...4-lindsay-the-colony-the-tribute/details.html

John has four kids. Two in college and one a senior in high school who will attend college next year.

He has gone door to door to pick up lawn mowing jobs from everyone in our neighborhood to make house payments until the house sells. Neighbors have been more than generous. I think everyone on our street uses him.

His familys loss is your gain!
Hope and change! Yes we can!

Give me a break :sadwave:

I had to come back to this post because I find this hypocritical. Some conservatives whine about how the government is handing out all this money to quote unquote welfare whores but then they feel sorry for themselves when they don't plan for the future. You see I don't think gibber will feel sorry for his friend who will be on unemployment because he was a 'hard working guy who simply got screwed by Obama'. When in reality he was a guy who didn't plan for the future. My guess is that he is not as valued as he thought he was and was overpaid for years. Then when the economy hit a rough patch, which always happens throughout one's life, he was given the option for a big pay cut or unemployment. He will whine how the president screwed him when in reality he was paid more than he was worth and bought all his toys and then when the correction came he was in trouble.

Give me a break is right.

 

[theGibber1]

I had to come back to this post because I find this hypocritical. Some conservatives whine about how the government is handing out all this money to quote unquote welfare whores but then they feel sorry for themselves when they don't plan for the future. You see I don't think gibber will feel sorry for his friend who will be on unemployment because he was a 'hard working guy who simply got screwed by Obama'. When in reality he was a guy who didn't plan for the future. My guess is that he is not as valued as he thought he was and was overpaid for years. Then when the economy hit a rough patch, which always happens throughout one's life, he was given the option for a big pay cut or unemployment. He will whine how the president screwed him when in reality he was paid more than he was worth and bought all his toys and then when the correction came he was in trouble.

Give me a break is right.

Tramp so you refuse to believe that the downsizing of his company had nothing to do with the broken economy but more his incompetence. What about the 200 other employees that were let go? Or the 11,000 people that American Airlines will be letting go in October? Or the 16,000 people Bank of America will be letting go by the end of the year?? All gross incompetence? Hope all these people are prepared like you suggest.
As far as buying a house he cant afford? He could afford it just fine when was working for the same company he had been with for 15 plus years. When he bought the house a few years ago how could he predict what a disaster the economy would be in. I mean how many of the 27,000 fired people mentioned above could have predicted they would lose their jobs. How many of those people are going to be able to keep their homes without any income?
And how many millions of people had lost their homes in the last two years? Your answer to all of these people is ?Sorry too fucking bad. Its not the weak economy, you are incompetent and should have been prepared..?
Now you are starting to sound like an evil republican.

 

[Cie]

gibber, it sucks, and i know those who have done the same, but if he has to sell or foreclose after simply losing his job, then it would appear that he overextended himself.

i am building a house now. if my less than 2-year old business fails, then i will stay at home and wife's job will cover our expenses while i figure something else out. i could have built a house 5 years ago when i had saved the down payment i felt comfortable with, but i feared overextending myself at that time. in retrospect, it would have worked out fine, but hindsight is 20/20 and i am pleased to be moving in this spring with some sense of security. i am not immune to catastrophic circumstances that will have me selling or foreclosing, but loss of a job isn't one of those circumstances for me.

the situation your friend is in sucks, but it is his fault, not anyone else. just one man's opinion.

 

[hedgehog]

save up at least 6 months worth of expenses just in case...

 

[WhatsHisNuts]

gibber, it sucks, and i know those who have done the same, but if he has to sell or foreclose after simply losing his job, then it would appear that he overextended himself.

i am building a house now. if my less than 2-year old business fails, then i will stay at home and wife's job will cover our expenses while i figure something else out. i could have built a house 5 years ago when i had saved the down payment i felt comfortable with, but i feared overextending myself at that time. in retrospect, it would have worked out fine, but hindsight is 20/20 and i am pleased to be moving in this spring with some sense of security. i am not immune to catastrophic circumstances that will have me selling or foreclosing, but loss of a job isn't one of those circumstances for me.

the situation your friend is in sucks, but it is his fault, not anyone else. just one man's opinion.

Go ahead and make it two. My wife and I both have MBAs, we're both working, and we could both "afford" nice cars and a house that costs twice as much as what we live in now.....but, that would be foolish. She makes more than I do and she got laid off a few years ago.....did not affect us one bit. Why? Because we don't buy what we can "afford", we live sensibly. I give her all the credit for teaching me these lessons on living responsibly, because I didn't learn how to live financially sound in HS or college. Everyone needs to learn this lesson....I was lucky to learn it before it was too late. Unfortunately, some learn it the hard way.

 

[Mags]

Go ahead and make it two. My wife and I both have MBAs, we're both working, and we could both "afford" nice cars and a house that costs twice as much as what we live in now.....but, that would be foolish. She makes more than I do and she got laid off a few years ago.....did not affect us one bit. Why? Because we don't buy what we can "afford", we live sensibly. I give her all the credit for teaching me these lessons on living responsibly, because I didn't learn how to live financially sound in HS or college. Everyone needs to learn this lesson....I was lucky to learn it before it was too late. Unfortunately, some learn it the hard way.

Interesting stories and thoughts by some that they don't feel bad for the guy who had to sell his house.

But the same thing goes for the millions that took out mortgages, and didn't understand the terms, or who's equity took a shit after they bought. They all want a bailout from Obama (and some were granted).

Seems to be a very similar situation, but I do remember many whining on this thread that the mortgage lenders took advantage of people - not arguing that people took more mortgage than they could afford.

So, why is it different in this case?

Bottom line - if you are too dumb to understand what you can afford, or what the terms of the mortgage is, you shouldn't sign on the dotted line. If you did, as many of the liberals are saying against Gibber, then too bad for you. If you were dumb enough to take an interest only mortgage, or an adjustable rate, and now are in bad straits because of it, whose fault is it?

Yes, the banks. Just not in the case of Gibber's friend - in that case he was being piggish and not planning ahead. Yea right.

Sounds like the same situation to me.....

 

[Trampled Underfoot]

Interesting stories and thoughts by some that they don't feel bad for the guy who had to sell his house.

But the same thing goes for the millions that took out mortgages, and didn't understand the terms, or who's equity took a shit after they bought. They all want a bailout from Obama (and some were granted).

Seems to be a very similar situation, but I do remember many whining on this thread that the mortgage lenders took advantage of people - not arguing that people took more mortgage than they could afford.

So, why is it different in this case?

Bottom line - if you are too dumb to understand what you can afford, or what the terms of the mortgage is, you shouldn't sign on the dotted line. If you did, as many of the liberals are saying against Gibber, then too bad for you. If you were dumb enough to take an interest only mortgage, or an adjustable rate, and now are in bad straits because of it, whose fault is it?

Yes, the banks. Just not in the case of Gibber's friend - in that case he was being piggish and not planning ahead. Yea right.

Sounds like the same situation to me.....

Big difference between a bank giving a loan to gibber's friend and someone making 40K a year and a bank putting them in a 500K home knowing they will be giving it back in a few years.

 

[Cie]

Interesting stories and thoughts by some that they don't feel bad for the guy who had to sell his house.

But the same thing goes for the millions that took out mortgages, and didn't understand the terms, or who's equity took a shit after they bought. They all want a bailout from Obama (and some were granted).

Seems to be a very similar situation, but I do remember many whining on this thread that the mortgage lenders took advantage of people - not arguing that people took more mortgage than they could afford.

So, why is it different in this case?

Bottom line - if you are too dumb to understand what you can afford, or what the terms of the mortgage is, you shouldn't sign on the dotted line. If you did, as many of the liberals are saying against Gibber, then too bad for you. If you were dumb enough to take an interest only mortgage, or an adjustable rate, and now are in bad straits because of it, whose fault is it?

Yes, the banks. Just not in the case of Gibber's friend - in that case he was being piggish and not planning ahead. Yea right.

Sounds like the same situation to me.....

assuming that you are not referring to me at any point in this post, but if so, you are totally off base.

 

[WhatsHisNuts]

Interesting stories and thoughts by some that they don't feel bad for the guy who had to sell his house.

But the same thing goes for the millions that took out mortgages, and didn't understand the terms, or who's equity took a shit after they bought. They all want a bailout from Obama (and some were granted).

Seems to be a very similar situation, but I do remember many whining on this thread that the mortgage lenders took advantage of people - not arguing that people took more mortgage than they could afford.

So, why is it different in this case?

Bottom line - if you are too dumb to understand what you can afford, or what the terms of the mortgage is, you shouldn't sign on the dotted line. If you did, as many of the liberals are saying against Gibber, then too bad for you. If you were dumb enough to take an interest only mortgage, or an adjustable rate, and now are in bad straits because of it, whose fault is it?

Yes, the banks. Just not in the case of Gibber's friend - in that case he was being piggish and not planning ahead. Yea right.

Sounds like the same situation to me.....

I didn't say I didn't feel bad for him. I said I was sorry he lost his job and bought more house than he could afford......like if you were to upgrade to a house that cost six figures.

I would argue the lending crisis and this are unrelated. One involved a scam and the other a poor personal decision. The scam was roping people into one payment, then jacking the adjustable rates up to ridiculous levels. Let's face it, unless you own the place outright, we'd all be in deep ship if our monthly payments rose to a certain level.

 

[Mags]

Big difference between a bank giving a loan to gibber's friend and someone making 40K a year and a bank putting them in a 500K home knowing they will be giving it back in a few years.

Sorry Tramp, I disagree here. The "bank" didn't put someone in that home.

Don't you think that the person, who was making 40K a year didn't realize they couldn't afford a $500K home? Why is that the bank's fault for that person's purchasing decision?

It sounds like you are saying Gibber's friend was smart and knew they were buying too much of a home and should have saved up instead, and certainly should have known better.

Why wouldn't that apply to the example you gave?

Again, same like same situations to me. In Gibber's friends case, YOU say he got what he deserved, he should have been smarter about it. In the example you gave above, you are saying it is the Bank's fault, and the individual had no responsibility to be smart about how much they could afford.....

Very twisted logic. It is the same.

 

[Mags]

I didn't say I didn't feel bad for him. I said I was sorry he lost his job and bought more house than he could afford......like if you were to upgrade to a house that cost six figures.

I would argue the lending crisis and this are unrelated. One involved a scam and the other a poor personal decision. The scam was roping people into one payment, then jacking the adjustable rates up to ridiculous levels. Let's face it, unless you own the place outright, we'd all be in deep ship if our monthly payments rose to a certain level.

What's his:

I so disagree here. "roping people into one payment, and jacking adjustable rates".....

EVERY closing I've ever been to, you receive the HUD-1 form and the mortgage. Of course, it is the buyers responsibility to review all of it. The mortgage details are clearly laid out.

Buying a house is a very complicated transaction. If people were either a) too stupid to understand the information presented at closing or b) were so dumb that they didn't admit they understood it - I mean, you buy a $250K house, you have no clue what the documents are - would it kill you to pay $2500 to an attorney to represent you and explain everything in simple terms?

I have a lot more sympathy for a guy like Gibber's friend, who bought a house he could afford and then due to circumstances that he couldn't predict such as losing a long time job than I am for someone who purchased a home that he couldn't even afford initially, and then gets hurt because he was dumb enough to buy an ARM. Because that one was easy to predict - the interest rates would rise.

 

[Cie]

I place blame for accepting poor loan terms on the borrower. Call me heartless, but in no phase of life as I know it is ignorance an excuse.

 

[Trampled Underfoot]

I place blame for accepting poor loan terms on the borrower. Call me heartless, but in no phase of life as I know it is ignorance an excuse.

When the bank offers a loan that they know will not be paid back, they are just as responsible.

 

[Trampled Underfoot]

I have a lot more sympathy for a guy like Gibber's friend, who bought a house he could afford and then due to circumstances that he couldn't predict such as losing a long time job than I am for someone who purchased a home that he couldn't even afford initially, and then gets hurt because he was dumb enough to buy an ARM. Because that one was easy to predict - the interest rates would rise.

Of course you do. :mj07: :mj07: :mj07:

 

[ImFeklhr]

I love how we all know exactly what happened to this guy.
Exactly how much he was making, or how he prepared.
Perhaps he has 6 months of money saved up and is going to lose his home at that time, but he is preemptively selling his house to reduce costs?
Who the fuck knows.

It's always sad when someone struggles.

And to the folks who said he didn't plan ahead, that may be true, but if we all waited until we could pay cash for a home, or until we could withstand unemployment for years before losing our house, then much much fewer people who be home owners, and much much more people would be renters.
I guess that would appeal to landlords and the wealthy, but frankly I think home ownership is a good thing. I thought it was something both sides of the political party espoused as a strength amongst Americans vis a vis other countries.

That being said, I don?t see how this is ?Obama?s fault?, as terrible of a president as I may think he is.
Sometimes shit happens, and only thing we can do is have some compassion, help a friend out, and hope the world gets better.

:shrug:

Of course I just clicked the link and see it's 3.5 baths. Who needs that many bathrooms? That's a lot of defecating. :facepalm:

 

[Skulnik]

That being said, I don?t see how this is ?Obama?s fault?,

Bush gets blamed because he was the President when the shit hit the fan.

Bill Clinton doesn't take CREDIT for signing the REPEAL of Glass Steagall but wants Credit for the Paper Balanced Budget.

:0008