Not Again... Americans who can't afford their mortgage up 145%

SneekyNinja

Well-Known Member

blu3bird

Well-Known Member
Sounds like people should be spending less on iPhones and Black Friday and paying their goddamned mortgage instead.
I've said similar comments before and some people here get really upset about it. It's pretty funny @Fogdog

@ttystikk - I just seen an article this morning on yahoo that Seattle just raised taxes on the wealthy, I'll try to find the article and throw a link. I know it's just one city, but I thought about it making you happy to hear something like that. It's a small start
http://www.seattletimes.com/seattle-news/politics/seattle-council-to-vote-today-on-income-tax-on-the-wealthy/
 

SneekyNinja

Well-Known Member
I've said similar comments before and some people here get really upset about it. It's pretty funny @Fogdog

@ttystikk - I just seen an article this morning on yahoo that Seattle just raised taxes on the wealthy, I'll try to find the article and throw a link. I know it's just one city, but I thought about it making you happy to hear something like that. It's a small start
http://www.seattletimes.com/seattle-news/politics/seattle-council-to-vote-today-on-income-tax-on-the-wealthy/
I think perhaps budgeting should be part of the school curriculum?

Mortgage/rent gets paid first, always.

You live off whatever is left after that is paid.
 

schuylaar

Well-Known Member
Sounds like people should be spending less on iPhones and Black Friday and paying their goddamned mortgage instead.

It's hardly as if interest rates have skyrocketed in the last 9 years, right?
Ummmm, it's up to loan officer to qualify properly. When I bought my house in 2008, financial circumstances changed during..told him I no longer qualified and pushed me into the deal. At closing table, he even sent an erroneous closing statement which my attorney refused to sign..I left, they followed me out to my car threatening me when I wouldn't sign it.

It's against banking laws to knowingly give someone a loan for monies they do not qualify.
 
Last edited:

blu3bird

Well-Known Member
I think perhaps budgeting should be part of the school curriculum?

Mortgage/rent gets paid first, always.

You live off whatever is left after that is paid.
Budgeting was taught at my school in home economics class, so some places definitely teach about it. But if it sticks with someone is a different story
 

chemphlegm

Well-Known Member
I know some, they bought their house for twice what is was worth because they were fantasizing. Then they took another mortgage on it when their balloon came due, then had to actually make payments...... Uh Oh, they arent making 6x what they did five years ago like they fantasized about and now blame their ill wages, the ones they were sure would meet their debt with no troubles. I've over spent and fantasized too, I've spent too much on items, I've even fucked my bills for them in the past, nobody bailed me out. fukkem
 

jonsnow399

Well-Known Member
I know some, they bought their house for twice what is was worth because they were fantasizing. Then they took another mortgage on it when their balloon came due, then had to actually make payments...... Uh Oh, they arent making 6x what they did five years ago like they fantasized about and now blame their ill wages, the ones they were sure would meet their debt with no troubles. I've over spent and fantasized too, I've spent too much on items, I've even fucked my bills for them in the past, nobody bailed me out. fukkem
Most people think the prices will continue to rise, its called the Greater Fool theory, you buy an overpriced item and hope to sell it at a profit to a greater fool.
 

greg nr

Well-Known Member
Or you get sick, lose your job and the health insurance that may have come with it, and the world falls on your head. There are only so many hours of minimum wage, part time work you can get.

People who would normally be able to budget and keep up with payments can go into a tight tailspin with any disruption to income or expenses they can't control (healthcare, divorce, legal, etc).

It isn't always about iphones or vacations. Sometimes life just plays the nasty on you.
 

jonsnow399

Well-Known Member
Or you get sick, lose your job and the health insurance that may have come with it, and the world falls on your head. There are only so many hours of minimum wage, part time work you can get.

People who would normally be able to budget and keep up with payments can go into a tight tailspin with any disruption to income or expenses they can't control (healthcare, divorce, legal, etc).

It isn't always about iphones or vacations. Sometimes life just plays the nasty on you.
Thats why you have to save for emergencies.
 

schuylaar

Well-Known Member
Or you get sick, lose your job and the health insurance that may have come with it, and the world falls on your head. There are only so many hours of minimum wage, part time work you can get.

People who would normally be able to budget and keep up with payments can go into a tight tailspin with any disruption to income or expenses they can't control (healthcare, divorce, legal, etc).

It isn't always about iphones or vacations. Sometimes life just plays the nasty on you.
@Padawanbater2 pointed out that 40% of Americans cannot get their hands on $500, in an emergency.

This is quite sobering and Microsoft is laying off thousands. You could BE doing everything correct..some circumstances are beyond your control..like my pay plan changing or territory re-aligned.
 

schuylaar

Well-Known Member
Thats why you have to save for emergencies.
Ummmmm, there this little reason of pay-to-pay because wages are stagnant and the cost of everything is increasing, with no end in sight = increasing cost of goods because no one is buying. A vicious circle. They need us to buy more, but what with? I don't think of vacation anymore, I think of getting the lump sum of cash required for surgery..my portion, upfront. No exceptions.

http://www.cnbc.com/2016/06/21/66-million-americans-have-no-emergency-savings.html
 

jonsnow399

Well-Known Member
Ummmmm, there this little reason of pay-to-pay because wages are stagnant and the cost of everything is increasing, with no end in sight = increasing cost of goods because no one is buying. A vicious circle. They need us to buy more, but what with? I don't think of vacation anymore, I think of getting the lump sum of cash required for surgery..my portion, upfront. No exceptions.

http://www.cnbc.com/2016/06/21/66-million-americans-have-no-emergency-savings.html
My granny raised two kids and a drunk husband on mill job pay, bought her own house and had S10,000 in the bank when she died. She went thru the Depression and never forgot. She was tighter than Dick's hatband.
 
Top