Poor George

[smurphy]

 

[Cie]

Just give me 30 seconds with poor billionaire george it would be very redeming.
In the end he would really be poor and one dead mother fuker .
Don't even respond you fuking right wing assholes because I would do the same to you.

I reported this post to homeland security this morning. :shrug:

 

[The Sponge]

DTB and Weasel sound like to bad lawyers representing guilty clients

 

[pd1]

--since the question of responsibity to fiasco seems to be cleared up (unless there are other facts someone would like to bring to table)
--it appears we have changed horses to who were the victims of fallout.
Since every article I read indicates it subprime loans was culprit maybe a definition of subprime loan is in order 1st. Take your pick--
++++++++++++++++++++++++++++
Definitions of Subprime loan on the Web:

In general, subprime lending (also known as B-paper, near-prime, non-prime, or second chance lending) is lending at a higher rate than the prime rate.
en.wikipedia.org/wiki/Subprime_loan

A loan made to a borrower who does not qualify for the lowest market interest rates due to credit problems or other underwriting deficiencies. ...
www.finweb.com/mortgage-loan-education/glossary-of-mortgage-loan-terms.html

A loan granted to a subprime borrower (an individual with less-than-perfect credit). The interest rate charged is higher than the prime rate obtainable by those with a good credit rating.
www.munibondadvisor.com/SubprimeGlossary.htm

A loan to a borrower with poor credit, income or assets that are hard to document, or other circumstances that would hinder loans from more ...
www.nmhschool.org/tthornton/asia_rising/AsiaRisingTerms.php

A loan offered to applicants with less than top-quality credit ratings
www.realestatebyrosann.com/pages/glossary.php

A loan that does not meet the credit underwriting guidelines of FNMA, FHLMC, FHA, VA or major-non conforming purchasers. Subprime loans allow borrowers to qualify with more severe mortgage delinquencies and higher debt ratios. Often referred to as "B/C Loans"
sacramentomortgage.com/glossary.htm
++++++++++++++++++++++++++++++

Now would appear to me they were people that didn't qualify for loan under normal criteria--doesn't mean they were necessarily all indigent as included those who could qualify for one mortgage but thought they could leverage themselves to the hilt by taking out all their equity in home and trying parlay it into greater wealth.
I remember we had discussion thread couple years ago in general forum and a poster (I don't remeber who) made the statement one would be a fool to not borrow all equity out of house and invest it--wonder where he is today?

Today we have 6.99% of homes delinquent - 2.97% are in foreclosure--total bout 10%

That means 90% currently are in good standing.

So basically we have 10% singing the blues and 90% that have been able to reduce their interest rates about 30% from 90's rates.
http://www.hsh.com/mtghst.html

Bad news is banks took hits on both accounts--defaults on bad loans and loss of interest on the good ones.

Rather than hang noose around either political party the ones I like to hang are the ones that made profit everytime unwarrented loan was closed. I believe we can all agree on that

-- hopefully incoming admin will reinstate old law or write new one that will prevent this from happening again.

--and not penalize the 30% of americans that have no mortgage or those paying their mortgage on time with increased property taxes--to compensate-"the others".

Rather than hang noose around either political party the ones I like to hang are the ones that made profit everytime unwarrented loan was closed. I believe we can all agree on that


This is what I can really agree with. I'm sure a lot of the houses that were defaulted on were from people making $200,000+. They just wanted to live a lifestyle above what they could actually afford, and did not want to make the sacrifices necessary to continue with a house payment.

 

[Trench]

DTB and Weasel sound like to bad lawyers representing guilty clients

:mj07:

 

[gardenweasel]

now with all this going on...with the economy in the shitter...pelosi and lame ass john conyers want to "investigate" the bush administration regarding water boarding?....

i`m not being "tongue in cheek" regarding this issue...but if this lame m.f.`er eric holder takes off on some fishing expedition after bush gave him and clinton a pass on the ritch pardon....and bush gave berger a pass on the stolen documents issue....

then,obviously,all this non-partisan rhetoric obama is tossing around is pure bullshit and he`s an absolute liar and no different than these congressional hacks that have a much lower approval rating than bush....

they do this and it WILL tear this country apart......