Archived

This topic is now archived and is closed to further replies.

pstall

Rick Santelli 2012

42 posts in this topic

Generally speaking, I agree that the government should not get into the practice of helping out those that made bad decisions. But I am not so certain when so many made bad decisions, that it effects those that didn't make bad decisions. Right now, the bad economy is effecting a lot of people who haven't made bad decisions. I don't really know which way I fall on this issue, but I am not so certain I am ready to say the mortgage assistance is a bad idea for the nation as a whole.

Share this post


Link to post
Share on other sites

For this mess. I say compartmentalize the mortgages of those who should have never gotten the loan to begin with.

Buy them a year of time. The rule is at the end of that year they get an apt and their credit is NOT dinged.

Let the house go to an investor or someone who can afford it and move on.

Share this post


Link to post
Share on other sites

I don't think people realize just how corrupt the mortgage industry had gotten that led to the mortgage/housing situation we currently find ourselves in. There were processors (the people that are supposed to shoot down a bad loan) calling companies telling them, "Just fax me over a document saying that so-and-so makes this much money and we'll approve the loan." These were the people that were supposed to just the opposite! I'm not saying the home-owners who can't/couldn't realistically afford the home should or shouldn't be helped out, I'm just saying that so many people don't know just how ridiculous it was 4-5 years ago. The stated income loans that ANYONE could take out. The borrowers with minimal income that were not required to escrow their taxes and insurance. The appraisers that got kick-backs for their appraisals. The whole industry got so damned greedy. This problem is more than just people that couldn't afford their mortgage payments. People lose sight of that fact when they see people getting bailed out and get pissed because they're not getting the same help. I can't tell you how many people I talk to everyday that ask me why they can't get some love and say, "Well, maybe I'll just get 3 months behind on my payment!"

It really does make me laugh how people act like that. Our economy is in the shitter. Deal with it. Don't get pissy because Joe-neighbor is hurting and is getting much needed help.

Mortgage companies/banks aren't in the business of owning homes and selling them.

Share this post


Link to post
Share on other sites

I don't think people realize just how corrupt the mortgage industry had gotten that led to the mortgage/housing situation we currently find ourselves in. There were processors (the people that are supposed to shoot down a bad loan) calling companies telling them, "Just fax me over a document saying that so-and-so makes this much money and we'll approve the loan." These were the people that were supposed to just the opposite! I'm not saying the home-owners who can't/couldn't realistically afford the home should or shouldn't be helped out, I'm just saying that so many people don't know just how ridiculous it was 4-5 years ago. The stated income loans that ANYONE could take out. The borrowers with minimal income that were not required to escrow their taxes and insurance. The appraisers that got kick-backs for their appraisals. The whole industry got so damned greedy. This problem is more than just people that couldn't afford their mortgage payments. People lose sight of that fact when they see people getting bailed out and get pissed because they're not getting the same help. I can't tell you how many people I talk to everyday that ask me why they can't get some love and say, "Well, maybe I'll just get 3 months behind on my payment!"

It really does make me laugh how people act like that. Our economy is in the sh*tter. Deal with it. Don't get pissy because Joe-neighbor is hurting and is getting much needed help.

Mortgage companies/banks aren't in the business of owning homes and selling them.

Who is more corrupt. The mortgage broker who sells a loan to someone he knows can't afford it or the Customer who pads his own numbers to make the mortgage broker think he can afford it.

Share this post


Link to post
Share on other sites

Joe Neighbor should have never tried to buy a house he knew he couldn't afford.

Two wrongs don't make a right, except when votes are at stake.

The mortgage companies should be getting nailed for this, but they are getting bailouts and "help". Rewards, two wrongs actually making a right in this case.

Share this post


Link to post
Share on other sites

Joe Neighbor should have never tried to buy a house he knew he couldn't afford.

Two wrongs don't make a right, except when votes are at stake.

The mortgage companies should be getting nailed for this, but they are getting bailouts and "help". Rewards, two wrongs actually making a right in this case.

The crooked mortgage companies are gone for the most part, and their employees (for the most part decent folks) are out looking for jobs.

Share this post


Link to post
Share on other sites

Who is more corrupt. The mortgage broker who sells a loan to someone he knows can't afford it or the Customer who pads his own numbers to make the mortgage broker think he can afford it.

um probably the predatory lenders.

corruption implies knowledge. most of the people had no idea they couldn't afford ARMs because they weren't well explained by people who knew EXACTLY what they were fuging doing

Share this post


Link to post
Share on other sites

without sitting down during the conversation of these bad loans we may never know.

Personally, before I sign my name on anything I'm asking questions.

If a lender purposely steered someone into a trap loan than karma is a coming.

But we need to give avg Joe SOME credit of having both bi cameral parts of their brain still working.

Its a mess all around but it will trim the fat of knuckleheads and hopefully some prudent behavior can be gained from this. Not 100% but more the norm than the exception.

Share this post


Link to post
Share on other sites



  • Topics

  • Posts

    • But we don't have the complete list.  We only know the players we have been linked to because it was released by the player or his agent.  The team doesn't release their contact list, and not all meetings get released by the player or agent.  Anyway, we also talked with guys at the Senior Bowl, East-West Shrine game, and combine.  So most likely, we have at least had a conversation with every player that is a possibility.  And if the team feels comfortable with those meetings as well as what they saw on tape, scout reports, combine performance, pro day performance/interview, etc., then there may not be a reason to set up a formal meeting.
    • I don’t care if this is only 4 players, I think we should capitalize on the talent in this draft and get who we want.  Here’s 4 potential starters at critical spots:       Jamal Adams SS LSU 6’1 This guy elevates the defense.  Arguably more than any other player in the draft.  I know we want offense but Adams is hard to ignore if available.     John Ross WR Washington 5’11 188 4.22 I want a playmaker and this is a playmaker.  If Davis and Williams go first and he’s in the 20s, we’re trading up.  I believe this as much as raspberry milf juice.  This ain't just about 4.22.     Jordan Willis DE Kansas State 6’4 255 10” hands 33.5 arms Another defensive linemen? But we've got Peppers, CJ, and Addison! Yeah and now Horton and Delaire are going to be off the team.  This footballer is projected to go higher that a ton of people are surmising and has been having a meteoric rise (that is once online browser-writers realized how high scouts are looking at him)      Jeremy McNichols RB Boise State 5'9 214   I will call him speedy-rumble mctubberjackal.  Absolute ownage in many regards.