Mortgage Lending Doofus

[Dial_tone]

I'm supposed to feel sorry for this guy?

LOS ANGELES (Reuters) - A California man who has defaulted on nine homes and expects banks to foreclose on all of them, forcing him into bankruptcy, says he now considers it a mistake to have invested in the real estate market....

http://www.reuters.com/article/newsOne/idUSN0952458820080511

 

[calveless wonder]

why is this even news?

what about the other tens of thousands of people in foreclosure?

 

[Razorguns]

That's what happens when middle class bozos making $60k - buy 5 houses "because it's a investment!".

Those of who rent who endured laughter during the boom - are now getting the last laugh as we buy steaks and expensive wines. Ha ha ha!

r

 

[jnevin]

They're expecting over a million foreclosures this year. A decent chunk are people that can afford their homes but don't feel like paying on something they're upside down in.

 

[Raptorex]

I fucking hate mortgage brokers

















I'm just kidding I wouldn't have all these cool loans without mine!

 

[jnevin]

I fucking hate mortgage brokers

Why?

 

[Razorguns]

They're expecting over a million foreclosures this year. A decent chunk are people that can afford their homes but don't feel like paying on something they're upside down in.

Why should they? That's stupid. Not their fault banks fucked with the money and credit supply and destroyed everyone's housing value. Now they want to the homeowners to take all the damage, while they get off scott-free.

They should ask for bailouts - banks did, and they got it.

I told everyone the "housing boom" was just bank shenanigans playing off the credit supply. No actual value was being created. No one listened.

r

 

[Raptorex]

Why?

sorry I edited my post before you replied...

actually, I have had great luck with saving a shit load of money with a good one.

 

[jnevin]

sorry I edited my post before you replied...

actually, I have had great luck with saving a shit load of money with a good one.

That's the key. Just because someone talks a good game doesn't mean they're going to have your best interests in mind.

 

[Raptorex]

That's the key. Just because someone talks a good game doesn't mean they're going to have your best interests in mind.

He called me out of the blue, refinanced me down on a fixed 30 year note to a 15 year note and it cost me like 100 bucks more a month. Probably saved me 200,000 over the 15 years. At the same time the homestead changed in Mass and he rolled that in, again giving me another 100k in protection.

good dude

 

[ortiz34]

I know one in Utah that tried to offer me a lower rate in exchange for secks with my dog

 

[jnevin]

I know one in Utah that tried to offer me a lower rate in exchange for secks with my dog

Sounds like a good guy.

 

[Dial_tone]

He called me out of the blue, refinanced me down on a fixed 30 year note to a 15 year note and it cost me like 100 bucks more a month. Probably saved me 200,000 over the 15 years. At the same time the homestead changed in Mass and he rolled that in, again giving me another 100k in protection.

good dude

Can ya loan a brotha a few shekels?