"underwater" mortgages - Page 3

Griff · 04-01-2010, 11:25 AM

I bet not, but April 15th is right around the corner. Like a punch in the nose, it focuses the mind.

classicman · 04-01-2010, 11:25 AM

And before you get all bent on the ARM spexxie - They do serve a purpose when used properly and in the right application.
Just because PEOPLE and Lenders abused their design for their own profits...

Guns don't kill people, ARM's do!

Pie · 04-01-2010, 11:29 AM

Quote:

Originally Posted by Shawnee123

No offense, Pie, but are you just becoming aware of all this?

No.
I get really bent out of shape when I see the double-standard being promulgated as FUD.

Personally, I am for (limited) federal bail-outs for individuals. For exactly the same reasons that TARP and/or corporate bail-outs made sense.

Shawnee123 · 04-01-2010, 11:31 AM

I don't even know what FUD is.

Shawnee123 · 04-01-2010, 11:38 AM

This?

http://en.wikipedia.org/wiki/Fear,_u...inty_and_doubt

jinx · 04-01-2010, 11:40 AM

Quote:

And before you get all bent on the ARM spexxie - They do serve a purpose when used properly and in the right application.

Knowledgeable investors have been using arms to 'flip' houses for a long time. Makes perfect sense for them, paying the minimum interest for the short time that they improve the property before resale. Takes the right house in the right location and often a partnership between contractor/construction people and RE agents - same partnerships that are often already building new homes in the area so they're all ready to go with it.
The idea caught on and lots of clueless idiots thought they'd do the same thing without actually having any idea how to do it. Other people just bought too much house. I have a hard time excusing either of these. Predatory lending my ass - unless you were lied to outright, lending is a FAVOR.

It's like a few years ago when people suddenly realized that the rent-to-own option means you pay a fuckton more in the end and were mad at the businesses that offered even that option. Dumbasses.

classicman · 04-01-2010, 12:35 PM

Quote:

Originally Posted by jinx

Dumbasses.

That pretty much sums it up.

However, when I got my place the ARM was presented in a way that as my income rose ...
"You'll be making so much more in 5 years...it won't be a problem..."
"Think of all the money you'll save if you move..."
"Look at how much better a house you can get for the same payments"

Unfortunately for him, I knew what an ARM was an it was absolutely NOT right for me or my situation.

Shawnee123 · 04-01-2010, 12:55 PM

Never mind. I really didn't care what FUD meant, anyhow.

Griff · 04-01-2010, 12:57 PM

Fudd

Shawnee123 · 04-01-2010, 01:17 PM

.

classicman · 04-01-2010, 01:55 PM

HA HA HA - WTFud?

[color="LemonChiffon"]I dunno either[/COLO]

I just lol'd at the color being "LemonChiffon"

Pie · 04-01-2010, 02:18 PM

You should take a look at the standard web colors. LemonChiffon is also known as #FFFACD or 255 250 205.

You may also enjoy such shades as PapayaWhip, Peru, PeachPuff, or BlanchedAlmond.

Shawnee123 · 04-01-2010, 02:31 PM

So, what does FUD mean?

Happy Monkey · 04-01-2010, 02:44 PM

Your wikipedia entry was correct.

classicman · 04-01-2010, 03:08 PM

It means that the D's are employing the same tactics as the R's.
They just have a different twist to their sales pitch.

04-01-2010, 11:25 AM	#31
Griff still says videotape Join Date: Feb 2001 Posts: 26,813	I bet not, but April 15th is right around the corner. Like a punch in the nose, it focuses the mind. __________________ If you would only recognize that life is hard, things would be so much easier for you. - Louis D. Brandeis

04-01-2010, 11:25 AM	#32
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	And before you get all bent on the ARM spexxie - They do serve a purpose when used properly and in the right application. Just because PEOPLE and Lenders abused their design for their own profits... Guns don't kill people, ARM's do! __________________ "like strapping a pillow on a bull in a china shop" Bullitt

04-01-2010, 11:31 AM	#34
Shawnee123 Why, you're a regular Alfred E Einstein, ain't ya? Join Date: Jun 2006 Posts: 21,206	I don't even know what FUD is. __________________ A word to the wise ain't necessary - it's the stupid ones who need the advice. --Bill Cosby

04-01-2010, 11:38 AM	#35
Shawnee123 Why, you're a regular Alfred E Einstein, ain't ya? Join Date: Jun 2006 Posts: 21,206	This? http://en.wikipedia.org/wiki/Fear,_u...inty_and_doubt __________________ A word to the wise ain't necessary - it's the stupid ones who need the advice. --Bill Cosby

04-01-2010, 12:55 PM	#38
Shawnee123 Why, you're a regular Alfred E Einstein, ain't ya? Join Date: Jun 2006 Posts: 21,206	Never mind. I really didn't care what FUD meant, anyhow. __________________ A word to the wise ain't necessary - it's the stupid ones who need the advice. --Bill Cosby

04-01-2010, 12:57 PM	#39
Griff still says videotape Join Date: Feb 2001 Posts: 26,813	Fudd __________________ If you would only recognize that life is hard, things would be so much easier for you. - Louis D. Brandeis

04-01-2010, 01:17 PM	#40
Shawnee123 Why, you're a regular Alfred E Einstein, ain't ya? Join Date: Jun 2006 Posts: 21,206	. Attached Images __________________ A word to the wise ain't necessary - it's the stupid ones who need the advice. --Bill Cosby

04-01-2010, 01:55 PM	#41
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	HA HA HA - WTFud? [color="LemonChiffon"]I dunno either[/COLO] I just lol'd at the color being "LemonChiffon" __________________ "like strapping a pillow on a bull in a china shop" Bullitt Last edited by classicman; 04-01-2010 at 02:10 PM.

04-01-2010, 02:18 PM	#42
Pie Gone and done Join Date: Sep 2001 Posts: 4,808	You should take a look at the standard web colors. LemonChiffon is also known as #FFFACD or 255 250 205. You may also enjoy such shades as PapayaWhip, Peru, PeachPuff, or BlanchedAlmond. __________________ per·son \ˈpər-sən\ (noun) - an ephemeral collection of small, irrational decisions The fun thing about evolution (and science in general) is that it happens whether you believe in it or not.

04-01-2010, 02:31 PM	#43
Shawnee123 Why, you're a regular Alfred E Einstein, ain't ya? Join Date: Jun 2006 Posts: 21,206	So, what does FUD mean? __________________ A word to the wise ain't necessary - it's the stupid ones who need the advice. --Bill Cosby

04-01-2010, 02:44 PM	#44
Happy Monkey I think this line's mostly filler. Join Date: Jan 2003 Location: DC Posts: 13,575	Your wikipedia entry was correct. __________________ _________________ \|...............\| We live in the nick of times. \| Len 17, Wid 3 \| \|_______________\| [pics]

04-01-2010, 03:08 PM	#45
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	It means that the D's are employing the same tactics as the R's. They just have a different twist to their sales pitch. __________________ "like strapping a pillow on a bull in a china shop" Bullitt

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