DEMONSTRATION
Stop the Eviction of Michelle Hart and her Mother
Demand a Two Year Moratorium on all Foreclosures & Evictions
STOP Bank of America
Friday, Oct. 22 at 12 noon
500 Griswold at Congress ~ downtown Detroit
http://www.moratorium-mi.org/
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DEMONSTRATION
Stop the Eviction of Michelle Hart and her Mother
Demand a Two Year Moratorium on all Foreclosures & Evictions
STOP Bank of America
Friday, Oct. 22 at 12 noon
500 Griswold at Congress ~ downtown Detroit
http://www.moratorium-mi.org/
Why?
Pay your bills.
Nobody came a calling when my Brother lost his home last year. Where was the help when he needed it? Lost income due to wife's sickness, mortgage company says we're sorry but you don't qualify for a modification. _uck these insensitive banks and mortgage companies. And for your comment Meddle, my brother and his wife paid their bills, up until his wife got sick 4 years ago, so what are you talking about pay your bills? They'll probably never be able to buy another home now, medical bills up the gazoo, credit's screwed. It's ok until it happens to you.
Since I have started my own filmmaking business a year ago. I'm not in the process of settling down; buying a home and paying taxes and mortages. Even when I get sick, I'm not applying for a loan modification. Even when I get married to the woman I love, I will pay for her house and taxes but not sharing the estate. She can have it all.
I felt really sorry for Michelle Hart and her mother, in the verge of losing their home. While being human the this developing society always look for the worst case senarios. There always going to be side effects from solutions.
As for me I'm not buying a house and settling down. I'm going to either rent and lease any condo and fancy apts. I'm going to travel the world and make movies. All of my Street Prophets don't own a home, they travel.
Pay the mortgage FIRST every month. Let the medical bills pile up, file Bankruptcy if necessary to get rid of them, but protect the house from foreclosure.Quote:
medical bills up the gazoo, credit's screwed
Easy for you to say. You don't pay doctor bills, you stop getting treatment. You stop getting treated, then you die. Ever think of that? They paid the mortgage first until they couldn't do it anymore. It's either pay the mortgage or pay the doctor. I wouldn't wish that decision on anybody.Quote:
Originally Posted by Meddle
I'm starting to feel the same way about owning a home. It's just shelter, homeownership is over-rated, not to mention the insensitive people on this board, that blurt out the first thing out of their mouth.
Mortgage problem solved.Quote:
then you die. Ever think of that?
[quote=Meddle;191213]Mortgage problem solved.[/quote
You're just the example I'm talking about. Hope everything goes right for you in your fantasy world.
I think a two-year moratorium is an excellent idea.
As for the "be responsible" admonitions from people on this board, how come only people who've been preyed on by the banks get "tough love" and the bankers who didn't check anything and just had people sign get billions in bailouts? Why are we rewarding rich assholes for junk accounting and corrupt practices, then lecturing people who got suckered by the system? Typical American stupidity.
Oh, I don't support the bad bankers either. They should be jailed and their assets seized and redistributed to help their victims.
At least you're consistent. For the amount of money we paid, we might as well have just paid for everybody to keep their houses. Or nationalized the banks.Quote:
Originally Posted by Meddle
I don't want to pay the bank any more than Michelle Hart does. However, I want a home to live in so I make my monthly payment.
Maybe it's time shareholders of these banks file a class action lawsuit against homeowners who default and then stay in their home without paying their mortgage thereby driving down the price of the banks stock and hurting my retirement fund. I am being adversely affected by these homeowners who refuse to pay.
Why should I lose my 401k because you want to live in your house for free?
Nice, simple response. Unfortunately, it's a much more complicated issue than that.Quote:
Originally Posted by justanotherboy
And if you're really interested in protecting your investments, a good place to start is regulating the big banks, sweeping away the corrupt practices that got us into this mess, and demanding transparency. Just sayin'. :rolleyes:
Quote:
Originally Posted by Cincinnati_Kid
BTW, I hope there is a foreclosure freeze. While, I do feel people need to accept responsibility, I also believe taking away someone's home will create more problems than solutions. The family loses, the bank loses. The bank should have adjusted, just as they should have done with your brother. But don't twist things here now.
As someone who has had a house foreclosed on, unfortunately, sometimes things happen. Do I feel that the bank should be responsible? No. A house is no more yours while paying the mortgage, than a car is while paying the car loan. You stop paying, you lose it. A mortgage is a promise by the consumer to pay a debt. Hopefully people will begin to understand that actual home ownership is not a right, but a goal. People tend to put themselves much further in debt every generation. I hope that the next generation learns from our failures. I feel bad for people that lose their homes, and I in no way am condoning the reckless loans that the banks approved [[under encouragement from government policies in the past), but people should not depend on the future when making financial decisions of that magnitude. I can say this from experience.
Now you're talking. The banksters/mortgage lenders should be the ones losing their homes and thrown in jail. Their wealth was gained by fraudulent means. It is an insult to lecture the victims about being responsible and paying their bills when the vast majority of these people were misled into signing in the first place. Although it is obvious that the borrower is bound to repay a loan, the lender is equally responsible for ensuring that the person he lends money to can repay the loan. What brought on this crisis is that lenders due to deregulation were allowed to lend money and then sell the debt to others so they had no stake in ensuring the money could be paid back.Quote:
Originally Posted by Detroitnerd
Twist what things? Explain yourself please?Quote:
Originally Posted by wolverine
The very first word in your post "Nobody." I just find it very concerning. Was it really "nobody?"Quote:
Originally Posted by Cincinnati_Kid
You could have written that paragraph in 1929. Anybody have relatives who lost their house in the 1929 Depression, raise your hand. Everybody? That's what I'm saying.Quote:
Originally Posted by Detroitnerd
My grandmother was a pregnant Italian immigrant widow whose husband was killed at Ford's in 1925, when she lost her house in 1930. My mother tells me it was a pretty little Folk Victorian on Concord. They endured, and later thrived. I'm very sorry for the Harts, but stuff happens........then and now. That's life.
The House in Question...
1966 House Built $?
03/05/1984 $60,000.00
08/23/1985 $68,000.00
06/26/1992 $98,000.00
05/24/2006 $195,000.00 <<-- Hart
Don't they tell you this when you before you buy a house?
Did she / they / everyone really think there houses were worth so much money? its crazy.
I feel bad for everyone in this situation, but is it really that bad? so you loose your house, go live somewhere else for a while, a cheap apartment or something. its just a house!
And what is the point of a 2 year moratorium? Its just a 2 year vacation. The people are gonna sit in their house for 2 more years then what? since shes gonna spend all her money on her sick momma shes not gonna have money for the house payment, so why not just demand a permanent moratorium??
and something does not add up, its say stop the eviction of michelle and her mother, but the white pages list "L Thornton" at that address... Whos that? something sounds fishy. looking on the web shes been trying to modify since January 2008...
anyway sorry, im just tired and bored. goodnight
I feel bad for the people who are going to loose their home due to forclosure, but its these very people who prevented me from buying my first home 4 years ago.
When I was ready to buy my first home, I couldn't do it because the people who where getting loans left and right where the ones driving up the market to a point where I knew that I could not afford the monthly payments to live in the area I wanted to live.
Before I help someone save their home, I need to buy my own home first. Afterall, when I do decide to buy a home, nobody is going to save me if I can't make the monthly payments.
Nobody meaning the mortgage company they had, these so-called housing agencies that are suppose to help people when they get behind. That's who I was referencing.Quote:
Originally Posted by wolverine
Quote:
Originally Posted by CLAUDE G
That's the whole point. There's so much blame to go around, where do you start? Mortgage underwriters who wrote loans to people who couldn't reasonably be expected to pay under previous conditions? Buyers who's eyes and desire was bigger than their income? Real estate speculators?
Regardless of what the bank says, you know if you can afford a mortgage payment or not. Yeah, we all know a lot of jobs were lost and people were cut off.
The question is, do these people deserve to be saved from foreclosure any more than the other several thousand people in the same position? Did their bank do something specifically wrong like mis-appyling payments?
People who are not smart enough to realize that a) buying a house is NOT an investment but a gamble and b) that a loan that has a baloon payment/adjustable rate/etc. is going to be voliatle and may be more costly down the road should NOT be allowed to buy a home.
Bankers who try to hide the facts should not be allowed to sell people mortgages.
This is coming from someone lucky enough to have a job but who also took a standard 30 year fixed rate loan on a less-impressive property that I knew I could afford even in hard times. I am now currently upside-down but that is a risk that i was aware of prior to purchasing and I plan on meeting the obligation that I signed for.
Guito, I have to disagree with the house as a gamble comment. Every house is an investment and it also a place to call home. The problem is in today's society, people want a return on that investment within a very short time. They don't seem to be happy in the "now". They always seem to want more.
While we were growing up, a house was considered a place where you planted your roots. People lived in their homes for decades. All of the money put into a home was always to better the living conditions; money wasn't put into a home just to make it more "sellable".
If you use your head when purchasing a home, you won't over-pay for the house. You'll purchase a home where you can comfortably [[and affordably) live, You'll have the ability to save a little money, and do a few things around the house to make it your own. You'll do your homework and choose a smart mortgage. Once you're ready to move on, you'll always recoup your money. After all, you've had a place to live for a very long time. The next family purchasing the property is giving you money for the place after it's been your home for a number of years.
If you're looking at a home as a short-term return on investment, it won't work. Our homes are not banks.