What Foreclosure reall means .... PBS Report

Quote from peilthetraveler:

Wow...they are only a few hundred miles from me. I may rent a big ass u-haul and load me up some computers and big screen TVs if they are free. I could sell them up here in N. CA and make a nice profit.
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Interesting to consider that a good % of that expensive stuff like HD TV's and stereos and computers were bought either on time or with credit cards.
So the trash crews that get that stuff are profiting greatly on the backs of CC co.'s, and the CC co.'s and businesses like Aaron Rents are out the $$.

The repercussions of this just don't quit.
 
Quote from IanMacQuaide:

Interesting to consider that a good % of that expensive stuff like HD TV's and stereos and computers were bought either on time or with credit cards.
So the trash crews that get that stuff are profiting greatly on the backs of CC co.'s, and the CC co.'s and businesses like Aaron Rents are out the $$.

The repercussions of this just don't quit.
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Lots of the subprime loans were refi's with cashouts btw. This guy on youtube is the goto guy for info

http://www.youtube.com/watch?v=fyzS68RYeE8
 
Oh kripes, all these moralists coming out of the woodworks and blaming the little guys...

I knew a guy that lived within his means, still does. He never bought a house even, has an apartment and it's not rent controlled. He is going to get killed by the upcoming inflation. So are all the retirees that lived within their means and paid off their houses and are on fixed incomes.

The Democrats will not use that as an opportunity to help those people, especially the older ones that are more likely conservative. They will use that opportunity to consolidate their power over the nation.
 
Quote from Fractals 'R Us:

Oh kripes, all these moralists coming out of the woodworks and blaming the little guys...

I knew a guy that lived within his means, still does. He never bought a house even, has an apartment and it's not rent controlled. He is going to get killed by the upcoming inflation. So are all the retirees that lived within their means and paid off their houses and are on fixed incomes.

The Democrats will not use that as an opportunity to help those people, especially the older ones that are more likely conservative. They will use that opportunity to consolidate their power over the nation.
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It is those little guys fault. Remember those strawberry pickers that made 300$ per week and bought a 720k home because they "figured they could afford a 3,000 dollar per month mortgage"? Heres that article http://www.sfgate.com/cgi-bin/artic...L&hw=STRAWBERRY+PICKER+720+000&sn=001&sc=1000

Funny that even though they thought they could afford 3000(dont know how they thought that) they went and got a mortgage for $4800.

I mean what are people thinking? You look at what your payments will be before you get the loan and a warning bell has to go off. If it doesnt, its because they think they are going to make a boatload of money in the next year. And actually those little guys didnt get what they deserved. They didnt lose anything. Most put zero down and just moved in, then they trashed the place when they got forclosed on. Shouldnt those people go to jail?
 
Even heard from people that claimed they didn't know their ARM could cause payments to rise. Christ. They were buying a thing worth many years of salary and they couldn't bother to read the contract in front of them?!? Even the really big print?

They are way overpaid unless they are flipping burgers.

Some people need to be pure wards of the State, where Uncle Sam tells them where to live, whom to marry, how many kids to have, where to work, what time to get up in the morning, what to wear, what to pack for lunch, etc. Meanwhile, the rest of us can enjoy freedom.
 
This guy lost his job and then his house went into foreclosure. First they caught him robbing houses and let him out on bail. Now the cops are looking for him for robbery and murder. He lives down the street from me. I slept with all the guns out last night.


Suspect sought in Raleigh cinema shooting
Anthony Joseph Bimbo

Posted: Oct. 25 6:42 p.m.
Updated: Today at 6:37 a.m.

Raleigh, N.C. — The search continued Sunday for a fatal shooting at a Wakefield Commons movie theater in north Raleigh Friday night.

At about 10 p.m., a masked man armed with a handgun walked up to the ticket booth of the Marquee Cinemas Theater, 10600 Common Oaks Drive.

The suspect announced a robbery and then shot the theater's manager, police said. Manager Mark Douglas Buhaug, 48, was transported to WakeMed, where he later died.

“The guy just shot at him for nothing, because he didn't have any money. No money to give him," said Gladys Buhaug, victim's mother.

The suspect fled the scene.

Detectives obtained an arrest warrant charging Anthony Joseph Bimbo, 40, with Buhaug's death. Wake Forest police said they also plan to charge Bimbo with robbery with a dangerous weapon.

Bimbo remained at large Sunday morning. He was considered armed and dangerous, police said. Bimbo is white, 5 feet 9 inches tall and weighs about 215 pounds.

Jason Anthony Zilinski, 18, and Ryan Michael Becker, 19, were also charged with murder in connection with Buhaug's slaying. Zilinski and Becker were students at WakeTech, officials said. They were transported to the Wake County Jail Saturday evening.

Anyone with information about Bimbo’s whereabouts is asked to call the Raleigh Police Department’s Detective Division at 919- 996-3555 or Crime Stoppers at 919-226-CRIME.

Buhaug, who was from Minnesota, is survived by three brother and three sisters.

Gladys Buhaug, 86, said her son went through an Advanced Animation Program before taking the cinema manager job. He had lived and worked in Raleigh for 10 years but will be buried in Minnesota.
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So the millions of deadbeats who felt entitled to live way beyond their means are blameless victims? They don't need help, they need to be put in debtors' prison. And from your moronic post it sounds like you need to be protected from yourself like they do.
Quote from Fractals 'R Us:

Oh kripes, all these moralists coming out of the woodworks and blaming the little guys...The Democrats will not use that as an opportunity to help those people, especially the older ones that are more likely conservative. They will use that opportunity to consolidate their power over the nation.
More...
 
Hey fractals, here's another victim for you to feel sorry for!

Official: NY governor's top aide quits in tax flap

By MICHAEL GORMLEY – 1 day ago

ALBANY, N.Y. (AP) — Gov. David Paterson's embattled top aide resigned Friday, after a week of escalating criticism over his failure to pay $300,000 in taxes on time and a questionable excuse for the lapse.

A state official close to the decision said chief of staff Charles O'Byrne's resignation was accepted with regret by Paterson, his close friend. The official spoke on the condition of anonymity because Paterson hadn't yet announced the decision.

O'Byrne, who has ties to the Kennedy family, has said clinical depression kept him from paying taxes between 2001 and 2005, before he took the job as secretary to the governor.

O'Byrne's problems were first made public in the New York Post on Saturday and O'Byrne has been fighting mounting pressure since then to keep his $178,500-a-year job. On Tuesday, lawyers for O'Byrne sought to end the controversy by releasing tax data but ended up intensifying the criticism when they blamed the delay on "non-filers' syndrome" related to his depression. One of the tax attorneys said it was a common mental health problem for professionals, but mental health and IRS officials said they never heard of it.
http://ap.google.com/article/ALeqM5gwE4wADjoKpb8iLZtBf0jloSK4EgD9413ST81
 
Quote from Trader666:

Maybe this will teach some people to live within their means. I have a hard time feeling sorry for Stanley Johnson when his house of cards crashes down.
http://www.youtube.com/watch?v=hn5EP9StlVA
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that is a really funny one.

We over here in Europe have laws (its called BASELII) which protects such people for themselves. They simply would not get the loan from the bank and if they would, they could sue the bank afterwards for not consulting them properly.
Please note, that you may be smart enough but there are to many people who's IQ is just not high enough to unterstand such contracts.
It is not only in their interest to be protected its also in the interest of all of us as we have learnt now the hard way.
Even the German tax payer is now paying for this USA-mortages through our incompetent and greedy banks who had to buy this crap coming from USA.
There will need to be some kind of regulation of such mortages even in free America.
 
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