Are local home buyers being sold out to investors?

[smoniqueking]

Rel,
you should think twice before judging people and presuming you know the answer to everything.. you come off rather rude and cocky..its very unappealing.. not intelligent like I think you could with a different tone.. I compared the mortgage to the car loan because they were both for 5 years.. same amount of money and actually the same bank. I have had 3 loans for this amount from them yet I was denied this with almost 2/3 of it down?? hmmm seems fishy to me.. just like all the stuff I posted in my statement below.. something is definatly going on..

[REL]

Rel,
I compared the mortgage to the car loan because they were both for 5 years.. same amount of money and actually the same bank. I have had 3 loans for this amount from them yet I was denied this with almost 2/3 of it down?? hmmm seems fishy to me..

Not fishy, because banks don't make money off of money down. They make money off of interest. I don't know of any bank that would give a loan with 2/3 down with no pre-payment penalty. It wouldn't make them any profit, which is the whole point of the loan business.

SMK, I'm sorry you are feeling so much anger about your situation, but I think it's clouding your ability to read what I wrote clearly. I don't know the answer to everything [[and never claimed to), and I don't know the specific solution to your situation, because I don't know you and I'm not you. You were bewildered at your offer not winning the house, so I offered a logical explanation as to why that may havev happened.

You said not to judge people unless I have been in their situation. Yes, I have lost my housing situation before and was forced to move against my will, so why are you judging me? You don't know anything about me, either. You seem to be making some assumtions yourself. As for losing your housing situation because your landlord took out a loan they couldn't afford [[seems like they went for one of those adjustable ARMs?), I have friends in that situation, too. Which is why I feel horrible about the situation you were put in, and said so with compassion for you & your daughter. It sucks, it's unfair, and I'm sorry.

Your response was so angry, in fact, that it didn't make full sense. I'm all for affordable housing [[who isn't?). But not everyone is financially fit enough to own a home. If one cannot purchase a home right now, no matter what the reason, no matter if it's "fair" or not, I'm just saying that we have other housing options available besides home ownership.

This is a discussion forum. I gave a thoughtful, articulate response to the discussion and tried to soften it with genuine concern for your situation that you put out into cyberspace. You responded with rage, not even reading fully what I wrote. And if you get offended about people discussing your personal business here, then please don't publicly post it.

Again, I wish you the best of luck and hope you & your daughter find a new housing situation soon.

Respectfully,
REL

[smoniqueking]

Oh rel stop already.. I did not get offended for what you wrote about me.. because I have not foreclosed on a house.. I feel very passionate about this because it is affecting my livelihood now..
I just think you come across a little snotty and your witt is kinda rude to the people that have gone through it, every situation is different.. you should not judge them..
when I personally stated that I was really upset about what happen to me.. and it was coming out boldly, I said clearly that I was not trying to be in anyway rude.. so sir/mam whoever you are.. this is a public discussion as you stated.. you seem to be getting offended at what I reply to you.. so take your own advice and do not post if you do not want replies.. I think your intelligence could be used for positive rather than picking things apart and making excuses for the banks.. you seem to have knowledge about what your saying because you say it firmly.. you obviously work for the bank or someone you know does.. and that was only a hunch based on your view..... perhaps I'm wrong i dont care.. and we dont need to have another full discussion about it..
you ask whats wrong with renting?? well i have clearly stated what is wrong with renting.. its not yours.. and you can pay for something that you feel is your home and in an instance it can be taken away from you.. all your money down the drain.. that is my personal opinion from my experience..besides.. I just dont want to go through this again.. with all the so called buying opportunities out there right now I feel like I should be able to take my unfortunate situation and try to make it positive.. however the banks and investors are making almost impossible for me..
again.. this is my personal view.. I do not want to argue with a complete stranger about what I know I am experiencing.. you obviously feel differently than I Do about this and that is fine..
all I am saying is try and be a little kinder..Rel.. because you do not know everyone's situation..
I am sticking up for Michigan people and the tax payers verses the outside investors that own our neighborhoods now.. once again.. thank you gov/banks
so relaxRel.. and thank you again for your respectful wishes of luck for my daughter and myself.. that was the nice words
SMK

[REL]

No, I don't work for a bank and never have. None of my friends do, either. I just try to be an educated consumer. Banks hurt people every day, and banks help people everyday. It's not fair to paint banks with a broad stroke, just like it's not fair to paint people that way.

[smoniqueking]

No, I don't work for a bank and never have. None of my friends do, either. I just try to be an educated consumer. Banks hurt people every day, and banks help people everyday. It's not fair to paint banks with a broad stroke, just like it's not fair to paint people that way.

true.. finally we agree! yay i see your edit im glad to see you reconsidered.. God bless!

smk