I was upside down on a rental home for 10yrs. 7.5% interest and the bank wouldn't refi because it would not appraise and my credit score is 849. When I did refi my payment dropped $500 a month. The way looked at it was, I agreed to the payments and the was thrilled the bank gave me the loan so I kept making the payments.
I lost my job and was able to keep paying the mortgage and everything else until I got a full time job. It wasn't easy but I managed. Don't know he exact situation, but I will say, yes if somebody loses their job and ends up not being able to make their payments they should lose it. Its a harsh reality.
I'm sorry, who went to jail from Wells? Many people got fired, some execs may have had to leave (with golden parachutes), but to my knowledge no charges were leveled at any individuals (bankers) and nobody went to jail. An employee incentive program was used misused, fraudulently so...I'm also not saying people shouldn't be jailed other. But with 20+ years working mostly in or around financial services, I'll also tell you it's not an isolated incidence of abusing a well meaned program to increase sales and revenue. With Wells the key difference was they didn't have adequate internal oversight to catch the fraudsters early (before somebody filled a complaint and the media was involved).
So do you lend out your money and not expect it to be paid back? Nobody forced any of us to sign the papers.
You must be married Brett, those words did roll of your tongue rather quickly. :D I could see however where your background could've led you to your original point though. There is some potentially sticky legal ground here as we see playing out in the courts.
You're mostly wrong, but I'll spare y'all painful details about the broken lending and rating businesses, cascades to the secondary market, then unregulated derivatives market, and weak monetary policy noise. It was good old fashion greed with a splash of fraud.
The two party system and mindset is broken. And a sizeable real third party (or more) option hasn't gotten traction. There is a lot to be gained by differing opinions IF a viable outcome can be achieved. This is typical contract 101.
This is also known as the post modernist mindset. There is no absolute right or wrong even, just what's right for me.
When it comes to housing and people losing their homes. No. Sure, there is more to the entire financial crisis but that is more than the housing issues. But we brought it on ourselves. WE took out the loans, WE bought housed bigger than we needed or could afford if something went wrong, WE tied all of our wealth into our homes, WE figured that the economy was going to just keep flying around and never slow so we didn't worry about what would happen IF. Nobody forced us to do that.
But they both live in America? Life is good. What doesn't kill you makes you stronger. I've gotten full of myself and paid the price in the past. I learned and play it safer now. Guaranteed housing and healthcare 90 miles south of our southern border and no capitalist.
I think a 3rd party would just triple the BS. It's really not about left or right it's us against them. With one of US in the white house WE now have a chance to "drain the Swamp" and get them working for us.
I did not say that the people at Wells went to jail. I said they committed fraud and should have gone to jail. There were a lot of people who should have gone to jail after the 2008 meltdown too.
Well, there is that lady that Mnuchin foreclosed on because she was 28 cents short on a payment. It was after the bubble, but it probably does sharpen the point about corporate greed. When Greenspan testified before congress that he underestimated how greed would make people do things that would ultimately ruin their companies and the US economy it indicated to me that he did not understand the human heart.
I'm not going to get caught up in a big political debate, seems that is all that has happened for the last 2 years. Trump won, Hillary lost. My thinking is nothing gets truly accomplished for the first 6 months. Not because it can't, not because it won't but moreso because Trump is not being given a chance in anything he is doing. A lot of focus with most every modern day president is the first 100 days. The left are set to go that full 100 days on their objections to anything and everything President Trump does. The hard left will continue until either they are deported(this is a joke), Sorros money put forward runs out or Gorsuch is confirmed to the SCOTUS. Many of the liberals still believe that they can upend Trumps election. Now that I have gotten that out of the way, until President Trump is given the chance to succeed he never will. Right now he could nominate Obama to the SCOTUS and Obama would be deemed the second coming of the devil by all parties. People are that vehemently against Trump, but when you adk them why they ponder and stutter with "umm's" and "well's" then babble off on either media induced wording or a "he just is" rambling of incoherence. The man to this day, 18 days(fewer if you discount weekends), has not done one thing he did not promise on the campaign trail. He might be doi g them too fast or out of order, but everything he has done he has pledged to do. Everything, period. Why would he not follow through on the rest of them? He's unorthodox, pompous, sometimes revolting in his words but the man truly cares for the country. I doubt he is trying to watch the world end in his final 30 years.
