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We missed two mortgage payments. We called PNC Bank and offered to send future payments.
After numerous "failed attempts," they kept losing our documents......We sent the last request for info 5 days late Suddenly, they said too bad and sent notice of foreclosure.
Originally posted by research100
for people who are renting houses....cautionary tale...My friend and his friend and friends mom were renting a house for several years, paid rent on time. One day they pay the rent and a few days later they are told the house was forclosed and they had to move... they were never given any indication of an ongoing problem..,...the owner took the rent!!!
anyone renting a house, how do you know if the owner is having a problem????
Originally posted by Mr_skepticc
reply to post by TheMalefactor
Bottom line here is this. We have his side, where's the other side? Bankers are not at fault.
Originally posted by Bugman82
A common trend that we see running through the stories here are lack of preparation and people who have fallen into the very system they criticize.
I live a middle-class lifestyle on $1102.00 a month (this is my monthly budget). I save more than 50% of my income a month. I have an emergency fund of around $17,000.00 (more than 1 year of expenses). I have insurance to cover my back.
There is the simple math of not spending more than you make. This means you avoid credit cards like the plague, eat at home instead of going out, drive a used car that is paid for in cash and not through income sucking payments. I drive a 1999 Honda Accord that has 197,000 miles on it that I bought in 2002 for under $9,000 without going into debt. As much as I've wanted to upgrade my wonderfully reliable vehicle I don't because I'm not a freaking idiot who wants to be up to his eyeballs in debt when any calamity could happen at anytime. This means you don't get the smart phone data plan and iphone and new flat screen tv and other junk when you can't freaking afford it. If you are going into debt for any of the above stuff then the brain on your shoulders isn't working correctly in the face of what could happen to you. If you're young save as much money as you can so you can retire early and comfortably. Let's do a little math.
Let's say you have a salary like mine. $28,000.00 a year. That is all I freaking make. I spend $1102.00 a month because I don't buy crap I don't need, I want to have security and safety in planning ahead, and I want to save for retirement. My only debt is my $700 a month mortgage and I didn't go out buy some freaking dream home that would eat more than 33% of my income. I am 29 years old. That means I'm saving a whopping $1231 a month.
What if I invest that $1231 a month into a Roth IRA (mutual funds / stock market) that is only making around 6% average returns. This is a very low number as average over any 15 year period is 8-15%.
By the age of 65 I will have $1,923,075. Yes, you read that right. If I start saving now and invest my $1231 a month into mutual funds by the time I reach age 65 I will be a millionaire. And I only make $28,000 a year!
There is plenty of leeway for emergencies within my plan. I am hedged to the brim against calamity. Anyone can do it but most CHOOSE not to. These stories aren't stories that should get you in a tizzy against the corporations but rather they should get you in a tizzy about how ridiculous people have become with their saving and spending. It should drive you to responsibility. Most all the people in these stories made poor money decisions that got them in trouble. Most all the people within these stories chose to go into debt and before they did they thought they were invincible to health problems, job problems, or economic struggles that should always automatically be planned for.
Be a millionaire on a salary under $30,000 a year rather than falling into the consumer mentality of having to have every shiny new toy you see. Enjoy life by doing fulfilling activities that involve exercise, helping others, getting involved in community service organizations, growing a garden, reading books, and stop with the ridiculous idea that you have to "buy things to be happy".edit on 20-4-2012 by Bugman82 because: (no reason given)edit on 20-4-2012 by Bugman82 because: (no reason given)
Originally posted by sputniksteve
reply to post by zarp3333
I feel bad for you and your family but lets be real. YOU missed your payments, YOU sent in the information late. The bank didn't give your kid a liver disease.
I think it is YOUR fault you lost your house, no one elses. That doesn't mean I don't feel bad for you still, but lets place the blame where it belongs right?
Originally posted by zbeliever
Guy It's happened to so many of us...I moved in with my parents because I was losing my home that I owned for 15 yrs.They took it....but thats OKay it needed so much work. My parents had remortgaged their home in order to by a better home then my father lost his job and my mother got to sick to work. So we all live together , there is7 of us, and share the expensive. It's working for us...and I can help out with Mom....I know it's hard but always look on the bright side. I did go through a depression when it all happened...
This is for the poster that is saving for a $1,000,000, by the time they are 65yrs old...Dude what if you Die at 40 and all that time you were denying yourself....Oh well I guess your kids will have a PARTY!
Money may be useless someday....Don't come and tell me I told you so. Live for today because tomorrow never comes!edit on 20-4-2012 by zbeliever because: (no reason given)
Originally posted by SeekerofTruth101
Originally posted by sputniksteve
reply to post by zarp3333
I feel bad for you and your family but lets be real. YOU missed your payments, YOU sent in the information late. The bank didn't give your kid a liver disease.
I think it is YOUR fault you lost your house, no one elses. That doesn't mean I don't feel bad for you still, but lets place the blame where it belongs right?
Yes. OP missed those payments. By contractual law, he broke it and is responsible for it. That's the law. But at the end of the day, consider this - why do have judges and the 3rd arm of the government - the judiciary?
Human beings are not automatons and robots, but thinking, living beings. There will be mitigating factors involve when a rule of law had been broken. Which is why there is a fair trial, as written down by forefathers of great foresight borned out of suffering, to write it down in the sacred constitution, so that every and each citizen is given the opportunity to explain himself.
And in the case of the mitigating factors provided by the OP, there is a reasonable human factor involved that truly deserves consideration. While laws are casted in stone, human lives are not.
Judges - unelected officials - are expected not only to interpretate constitutional laws into judgements, but are fully expected to comprehend the extenuating circumstances of modern living that had progressed beyond the days of the founding fathers, to make the right decision, tempered with compassion along with justice to be served.
The OP had brokened a contractual law, but constitutional laws , which are written to protect citizens, are way above business enterprise laws. Does OP and his family, a citizen, in view of the mitigating factors, deserved to be booted out to struggle in the cold streets, more so under these trying times when business enterprises are found to be main culprits of our current sufferings?
May the judges be wise and have at least an iota of compassion, even though business enterprises and their inhuman management staff are expected to have none.
Originally posted by Goldcurrent
"Live for today because tomorrow never comes!"
This is coming from someone who is now living with her parents again after 15 years of home ownership.
Seriously, it is this mentality that is producing this situation across the globe.
www.longlongtimeago.com...
Aesops fables contain wisdom. There is a reason we used to tell these stories to children.