Mortgage crisis getting worse?

Discussion in 'The Lounge' started by Starkiller, Dec 15, 2008.

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  1. Starkiller

    Starkiller 9

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    #1 Starkiller, Dec 15, 2008
  4. GoT

    GoT Strength and Honor

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    read about that in Conde Nast Portfolio.
     
    #2 GoT, Dec 15, 2008
  7. Laserjock

    Laserjock South Endzone Rocks! Staff

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    I am torn between the angst over what the government can do to help finance a fix for this mess and frustration and anger at mortgage companies that granted loans to people who should not have qualified for them and people knowingly taking on loans that they could not afford.

    I personally think they should require the mortgage companies to lock the mortgages at levels the people can afford for now, even if for short term to avoid a massive default wave again.
     
    #3 Laserjock, Dec 16, 2008
  10. ammotroop

    ammotroop Airforce MAN

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    Right now I dont think there is anything we can do. Because of some of the loan types that were created over the last few years, the low in forclosers has not even hit. If things were corrected 6 mths ago, we would see the peak in forclosers in 2010. It kills me some of the reasons that people are getting in this mess. The main one being that they DID NOT READ THE PAPERWORK THEY SIGNED. They did not even understand that their intrest rate was going to double in 2 years. People are going under now, and the harsh intrest rates havent even hit yet. Things are going to get very ugly over the next few years. Glad I bought cheap now!!!!!

    I wonder if this is how Rome felt.... :)
     
    #4 ammotroop, Dec 16, 2008
  13. SEC 330 BIPOLAR

    SEC 330 BIPOLAR jive turkey

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    Welcome to the "ownership society".
     
    #5 SEC 330 BIPOLAR, Dec 16, 2008
  16. GoTitans3801

    GoTitans3801 Forward Progress!

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    Bottom line- lots of people are stupid. Lots of other people like to take advantage of those stupid people. Those people are screwing a lot of things up for all of us.
     
    #6 GoTitans3801, Dec 16, 2008
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  19. Hoffa

    Hoffa Freak you you freakin' freak

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    Blame Barney Frank...
     
    #7 Hoffa, Dec 16, 2008
  22. SEC 330 BIPOLAR

    SEC 330 BIPOLAR jive turkey

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    I just blame Barney.

    [​IMG]
     
    #8 SEC 330 BIPOLAR, Dec 16, 2008
  25. Bobo

    Bobo Guest

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    Is it wrong to hate stupid people and greedy people?
     
    #9 Bobo, Dec 16, 2008
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  28. Hoffa

    Hoffa Freak you you freakin' freak

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    Wrong fag...

    [​IMG]
     
    #10 Hoffa, Dec 16, 2008
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