Desperate owners burn homes

I feel sorry for the homeowners that have done their homework, got the best fixed interest rate they could, and then lost a job, and couldn't get another (sounds alot like me... humm).

But most of these mortgage problems are occuring due to homeowners who DIDN'T do the homework... or who decided they would take a chance on a variable interest rate loan... or an interest only loan...
What did they expect?
they made the choice...a chance they CHOSE to take... and reap the benefit from. Then there were also the house flippers that thought they could make some bucks, by buying fixer uppers, only to find out that the money isn't easy, and the homes often don't sell fast.

It was poor planning by uneducated home purchasers that caused most of that problem... not the banks fault.

There is one major issue that IS the banks fault...
inflated home appraisals
when they over estimate the value of a home, and loan way to much for it, and then they try to go after the homeowner for the difference of what it will sell for in a foreclosure...
That is something that is easily remedied.
Make Banks be responsible for over estimating property values... and have them take the loss... (banks used to be very careful there)
For some reason, they stopped covering their loans with assets... so what did the Banks expect? apparently they expected people to be gullible idiots and borrow over value...
well now everyone is getting shafted... and still the ones that seem to get the pitty party are the investors that were doing all this to make money, and did.
they never lived in those houses, and never would. Should we feel sorry for some investor that was taking a gamble and lost?
hell no. be sorry for the guy or gal, that made payments on time for years, paid significant principle, then lost a job, and now doesn't have a home.

Originally posted by RockpuckAnd that is the beginning signs of revolution .. when the Middle Class is ill, the whole damn country is ill.. and if you can't see that, your part of the problem.

THis has been brewing a long time now.

The only way to fix America now is to destroy the bank.

It's the solution that no one who is in power wants.

[edit on 16-3-2008 by In nothing we trust]

reply to post by In nothing we trust


Why?

Originally posted by chromatico
reply to post by In nothing we trust

 

Why?

Greed has taken ahold of too many.

They become greedy becuase they have no sense of security.

[edit on 16-3-2008 by In nothing we trust]

reply to post by In nothing we trust


I'm sorry, I'm afraid that doesn't answer my question of why the central bank must be done away with.

Originally posted by chromatico
reply to post by In nothing we trust

 

I'm sorry, I'm afraid that doesn't answer my question of why the central bank must be done away with.

The national debt, will never be repaid, it is not feasable without inflation erasing it. If the federal reserve creates money without question they must have another motive beside fiscal responsibility. The IRS responsilbility is to collect the interest of the debt. But the tax laws are so complex that no one really understands them, so the IRS uses intimidation to force the citizens of America to pay up to a corrupt central government that doesn't do anything that they are suppossed to do. So why have them?

Since it is impossible for Congress to balance the budget they should at least balance the interest on the debt. However, the interest on the debt has become an oppressive burden to the people. So the government has 3 options; downsize itself (Not likely with everyone wanting a piece of the pie), Keep things off the books (THe federal reserve already does that since they stopped telling everyone how much money they were printing. And the government does that by not putting the cost of the war on the books), or raise taxes to pay the interest on the debt.

So lets look at option 1: Not only will the government not downsize itself, but it is activly seeking to get bigger. Everyone wants free healthcare and economic stimulus payments.

Option 2: So the government has started down the slippery slope of cooking the books, like Enron, Worldcom, the mafia, and every major corporation in America. Now I admit that this may appear to be the best option on the surface. Hide everything and lie to everyone. I'll consider it's merits.

Option 3: Raise taxes. No thanks, I already don't get my percieved value of taxes that I pay into the system. You know it's not so much the federal tax burden thats a burden it's more the other taxes that we are bombarded with. State taxes, county taxes, city taxes, sales tax, gas tax, property tax, etc. And if I aculally had money I would probably say the capital gains tax and the estate tax.

It's all really just anarchy with everyone worshiping greed as if it's some sort of deseirable human trait.

[edit on 16-3-2008 by In nothing we trust]

reply to post by In nothing we trust


Yeah, heard it all before.

Question: is the American economy better or worse than it was in 1913?

Originally posted by chromatico
reply to post by In nothing we trust

 

Yeah, heard it all before.

Question: is the American economy better or worse than it was in 1913?

Obviously better.

It's really just that life has become too complex. It's time for a complete system reboot. Life will be better still once the 3rd bank of the US is erased and the 4th bank is created. The interim period between banks will be messy and chaotic, kinda like now.

Ummm, except it will get worse first.

And who would want that, except lots of displaced, lied too, media controlled, over taxed, over inflated Americans.

[edit on 16-3-2008 by In nothing we trust]

reply to post by In nothing we trust


I understand where you're coming for but I just can't help but thinking all this sentiment against central banks is nothing more than nostalgia for an era that really wasn't better than ours.

Originally posted by chromatico
reply to post by In nothing we trust

 

I understand where you're coming for but I just can't help but thinking all this sentiment against central banks is nothing more than nostalgia for an era that really wasn't better than ours.

So what's your answer to stop the angry hoards from burning down your house?

Train the military to fight against poor, angry, brainwashed people in Iraq so that they can bring back that knowledge and bring it to bear against poor, angry, brainwashed people here in the US?

reply to post by In nothing we trust


I can defend my own property just fine, thank you very much.

Originally posted by chromatico
reply to post by In nothing we trust

 

I can defend my own property just fine, thank you very much.

It'll be anarchy you know. Small militant factions everywhere. The military will have to step in and declare martial law.

How will you defend yourself when they confiscate your weapons, for thier saftey?

[edit on 16-3-2008 by In nothing we trust]

reply to post by In nothing we trust


I'll figure something out if and when that happens.

Originally posted by chromatico
reply to post by In nothing we trust

 

I'll figure something out if and when that happens.

I forgot to mention how the credit beaurea system fits into the federal reserve system and the IRS. The credit beaurea system is suppossed to track fiscal responsiblity for individuals. However, the credit beaureas are far from the impartial 3rd party moderators as they portray themselves to be. The credit beaureas have been selling your files to the banks for years now. It's why everyone gets all those pre-approved credit card offers. More unbrideled greed, fueled by insecurity.

Business owners, appently a genetically supiorior form of greed following being, are suppossed to report into the credit beaurea system in order to maintain control over thier fiscally infierior subordinates (Employees / consumers)

In a perfectly controlled society a small group of people can maintain complete control over the population using fear (Job loss), Intimidation (Tax collection), and Mind control (Mass media).

We lost control long ago. Now we do what has to be done in order to regain control.

The bank must BURN.

[edit on 16-3-2008 by In nothing we trust]

Ive seen a lot about spiteful and vindictive on this thread, and as far as i can see, it seems pretty much correct, spiteful of those who thought they had obedient little wage slaves and vindictive against the ones who have rode upon their backs. Good for spiteful and vindictive, go for the throat because if you don't your children will earn these peoples living for them while they drink, golf , and plot the destruction of middle class America.
I'll sing their praises, and if I could afford it would hire a marching band to play patriotic music as they strike the matches

reply to post by DwnitsDwn


You're glorifying arson and I'm alerting the mods.

I'm not glorifying anything, I'm looking at the situation without rose colored glasses, if you think these things will change without some form of action you sir are delusional

So what's your answer to stop the angry hoards from burning down your house?

Make sure it is not your house before they do so? Well, that would be my answer. Sell now before the chaos breaks out.

reply to post by Divinorumus


That sounds like nothing less than the voice of panic to me. Stop the madness people!

To all the elite's or children on here who have never had to deal with money heres a scenario. The banks gave them a loan and said you owe (hypothetically) $750 a month. The people said ok we can do that. Signed. Then the bank said, oh sorry you owe us $1050 now. They however can't pay that, because they were told $750.


There is no way, none, that the details of the loan were not supplied and discussed during the buying process. I've bought property.....the process is long and detailed and thorough. In my current house, bought during the boom days of 2006, I made sure and certain that we bought on a fixed-rate loan even if it was initially more expensive on a monthly basis for the simple fact that I didn't want a surprise down the road. I'm no real estate tycoon or financial wiz....just some guy who knew what he could and could not reasonably expect to pay.

THESE PEOPLE DID NOT.

Those caught up in the subprime issue today did one of two things:

-signed up to buy FAR more house than they could legitimately afford and hoped like Hell they could pay down a good part of it before their rates changed and hopefully it would be many years down the road.

-or, again bought far more house than they could really afford, but did so on a speculative basis hoping to sell out in a few years with a nice gain based upon the real estate market as it appeared at the time....which didn't last.


These people, by and large, are learning a very dear lesson in personal responsibility. What? Their families are feeling the effect of this?

They've got no one else to blame but themselves and it is up to them to do right by them. Period!