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Author Topic: Mortgage modifications: Winning!....? [Locked]
SoBaKi  2 stars
Posts: 487
Registered: 2002-2-26 09:31:13
Fist_de_Yuma posted:

If you have the right things going it is easy. I reduced our interest from 6.5% to 2.75%. Paying less and paying it off two years sooner. If you cannot afford something there is little chance of getting someone else to bend over for you. Obama is just tossing money at his friends while pretending he cares. All he cares about is Obama.



Dude, do you EVER phucking read what you write?\


fists_himself_hard posted:

I got a GREAT rate and things are looking up for me, but, that guy is REALLY only looking out for himself.

 

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Moe_Nox  4 stars
Title: In Moe We Trust
Posts: 1,962
Registered: 2007-2-4 12:17:56
Stupid home owners have done to the housing market what stupid gamers have done to the MMO market. Stop overpaying for crap and force the industry to change.

 

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sweeny_comodore  4 stars
Posts: 1,216
Registered: 2007-8-23 18:47:04
how the hell does a cop with 5 kids afford a 275k home??!


well, apparently, he doesnt.


wtf made them think they could afford a 275k home?

 

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Taliesihne  4 stars
Title: Wind on the Deep Waters
Posts: 1,117
Registered: 2004-2-19 04:47:59
sweeny_comodore posted:

how the hell does a cop with 5 kids afford a 275k home??!


well, apparently, he doesnt.


wtf made them think they could afford a 275k home?



Meh, a 275k home is likely a little north of $1500 a month in mortgage payments. No more then 1750. That's 25% of net pay a month at 50k a year.

 

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IMHO  4 stars
Title: Official Outpost Greeter
Posts: 2,287
Registered: 2001-11-1 03:55:02
sweeny_comodore posted:

wtf made them think they could afford a 275k home?



I think that is a very important question.

To answer that question : The bank did.

It's the banks fault for not doing their due diligence, yet the banks will make money off these people losing their house.

 

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Hammerhand21  1 star
Title: That's what she said
Posts: 147
Registered: 2002-2-26 14:28:29
A 275k home is modest isn't it? What part of the country is this?

 

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sweeny_comodore  4 stars
Posts: 1,216
Registered: 2007-8-23 18:47:04
Taliesihne posted:

sweeny_comodore posted:

how the hell does a cop with 5 kids afford a 275k home??!


well, apparently, he doesnt.


wtf made them think they could afford a 275k home?



Meh, a 275k home is likely a little north of $1500 a month in mortgage payments. No more then 1750. That's 25% of net pay a month at 50k a year.



then add in insurance and taxes and youre probably talking in the hood of 2500/mo
plus 5 kids??!

 

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Jesus? No, but there is indeed a god shaped hole in the heart of man, why is yours so empty? -- snarf igraine
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Abaddon_Ambrosius  4 stars
Title: Retired Theurgist TL
Posts: 1,674
Registered: 2001-12-21 09:51:39
Taliesihne posted:

sweeny_comodore posted:

how the hell does a cop with 5 kids afford a 275k home??!

well, apparently, he doesnt.

wtf made them think they could afford a 275k home?



Meh, a 275k home is likely a little north of $1500 a month in mortgage payments. No more then 1750. That's 25% of net pay a month at 50k a year.



Uhm, yeah guys.

In what universe is $275 over the line?

Sure, we have houses worth $190 around here. But... uhm... nobody is living in them. Because they're foreclosed, half-destroyed, in neighborhoods that were crappy to start with and the owners took a hike the second they hit trouble. That's WHY they are $190.

 

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Moe_Nox  4 stars
Title: In Moe We Trust
Posts: 1,962
Registered: 2007-2-4 12:17:56
IMHO posted:

sweeny_comodore posted:

wtf made them think they could afford a 275k home?



I think that is a very important question.
To answer that question : The bank did.
It's the banks fault for not doing their due diligence, yet the banks will make money off these people losing their house.


Careful. Going down that path of thought will be painful to the ideological positions you hold dear. I would advise you to avoid this hurt.

 

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The Nanny State cometh
Currency should be bacon cheeseburgers and blow jobs... - Reese
Life at the Outpost: http://www.collegehumor.com/video:1771556
sweeny_comodore  4 stars
Posts: 1,216
Registered: 2007-8-23 18:47:04
Abaddon_Ambrosius posted:

Taliesihne posted:

sweeny_comodore posted:

how the hell does a cop with 5 kids afford a 275k home??!

well, apparently, he doesnt.

wtf made them think they could afford a 275k home?



Meh, a 275k home is likely a little north of $1500 a month in mortgage payments. No more then 1750. That's 25% of net pay a month at 50k a year.



Uhm, yeah guys.

In what universe is $275 over the line?

Sure, we have houses worth $190 around here. But... uhm... nobody is living in them. Because they're foreclosed, half-destroyed, in neighborhoods that were crappy to start with and the owners took a hike the second they hit trouble. That's WHY they are $190.



those houses are $50k in my area


275k is over the line when you recieve a tax payer money and have 5 kids

 

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Jesus? No, but there is indeed a god shaped hole in the heart of man, why is yours so empty? -- snarf igraine
the original monotheism: http://en.wikipedia.org/wiki/Phallus

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