BREAKING: 100 LAPD in Riot Gear assault Fort Hernandez. They are holding them off.

reply to post by ubeenhad


Gee wish I could live in my house for free...

These occupy folks hate the banks.. but had no problem going to them hat in hand begging for a mortgage?

Usury is wrong, for sure.. but so are the pathetic tactics used by people who try to game the system and cry foul when they lose.

$4000+ a month mortgage payment? Average people can afford that amount? A house even costs that - some mansion maybe? Tell me the system isn't foobar.

Admittedly I have not read the whole pile of "reports" and I closed my facebook long ago (because I don't really care what someone had for lunch or what random song lyric was running through their feeble little heads nor do I want to see the thousandth self taken picture of someone and other such mind numbing drivel) - so I can't read the facebook crap...but I would guess that what happened here was they took an ARM (adjustable rate mortgage) loan, which allows you to have really low payments for a while before the rate adjusts after a certain amount of time (hence the "adjustible" term in all of the paperwork they had to have signed), and when the loan payment went up per the documents that they signed they cried foul. Now they want everyone to know how unfairly they are being treated since their loan went up per the agreement. I would have to assume (please correct me if I'm wrong) that somewhere along the way they missed payments or didn't pay the full payments that were due and as a result they went into forclosure - after many likely phone calls and written notices. Now they want someone else to pay for their actions. They were living in the moment instead of thinking about the future.

ARM's are not new and, while they are most certainly geared to take advantage of some people who want more than they can afford, they are not necessary to sign in order to secure a mortgage. 10 years ago when I signed the mortgage on the house I currently live in I too was offered an ARM loan. At the time it would have certainly been nice to have a mortgage payment that was hundreds of dollars per month cheaper, but I did have a functioning brain cell or two and had enough common sense to not sign something so stupid. These types of loans will always come back to haunt you. Perhaps they should not be allowed any more, but for the time being they are perfectly legal. Whenever someone wants more than they can afford bad enough to sign one of these ARM's, they will just end up screwing themselves.

Originally posted by ubeenhad

Social Media is the only true form of journalism anymore.

What? Seriously? Social media is a tool for shameless self promotion and that's about it. I'm sure there are a few people who use it to stay in touch with family and friends, but for the most part it's just self promotion.

Half of you MUST never have had a mortgage.
or
You got family with enough money to help out when your behind.

Because not everyone has a choice of when they are goign to be behind. Especially with all the garbage that has been going on in the economy. Foreclosures should be stopped immediately for those who have been layed off.

Originally posted by tallcool1

Originally posted by ubeenhad

Social Media is the only true form of journalism anymore.

What?

Seriously? Social media is a tool for shameless self promotion and that's about it. I'm sure there are a few people who use it to stay in touch with family and friends, but for the most part it's just self promotion.

Yup. SELF promotion. Self as in a person, not an agenda. If you got a computer you can promote your ideas and views. Not everyone is going to use the tool for democratic purposes, and just cause you don't got enough friends to need facebook dont hate on the people who are not paranoid, and actually like staying in contact with other humans.

reply to post by RalagaNarHallas


Maybe they should have paid there bill?

Id like to say one thing, and emphasize it to the highest degree.

YOU. Ya YOU. Judgemental clownshoes of ATS. You are all here because something mainstream pisses you off. Ether its alien disclosure, the economy, the current president, doesn't matter we are all here because we want some kind of change to the current system.

NOW, what are you doing for YOUR cause? Only you can answer that question honestly, but for a large portion of you, your online "rebelry" is the extent of your actions. You are one step ahead of the sheep, but you must respect these people and their will to take it one step further than you, tho their cause be different. They took their rebelry to the real world. Hate it or Love it, they are more dedicated than you.

Originally posted by adjensen

Originally posted by ubeenhad
reply to post by adjensen

 

Ya, could be a publicity stunt, tho I did find supporting evidence that 40 riot police raided them on the 4th of this month.

Why the big MSM blackout?

Frankly, I would say it's because it's a minor local issue, of little national consequence. Houses get foreclosed on every day, people have some sort of protest going every day, so it's not really news.

If this served their purposes the media would have been all over it as an evil bankers story.
Seems our vaunted liberal media has the banks best interests at heart after all.

Originally posted by ubeenhad

Originally posted by tallcool1

Originally posted by ubeenhad

Social Media is the only true form of journalism anymore.

What?

Seriously? Social media is a tool for shameless self promotion and that's about it. I'm sure there are a few people who use it to stay in touch with family and friends, but for the most part it's just self promotion.

Yup. SELF promotion. Self as in a person, not an agenda. If you got a computer you can promote your ideas and views. Not everyone is going to use the tool for democratic purposes, and just cause you don't got enough friends to need facebook dont hate on the people who are not paranoid, and actually like staying in contact with other humans.

edit on 29-10-2012 by ubeenhad because: (no reason given)

Right - that's what I said. I stay in contact with my many actual friends the old fashioned way - by visiting them in person. Facebook "friends" that you've never actually met in real life aren't truly friends. Posting a bunch of pictures that you take of yourself is not "ideas and views".

And where did I say I "hated" anyone? I don't hate anyone. You children have this warped sense of hate. If someone doesn't agree with your opinion it is not hate.

Perhaps if you had actual human contact instead of facebook posts from mommies basement you wouldn't be so fragile.

Originally posted by tallcool1

LOL. You really are narrow minded. It might be embarrassing you didn't consider this, but I live in a different state than many of my friends and family.

Also, its against the rules to send requests to people you don't know. Its not myspace. Every person on my friends list I have met in person. Other than feeds from occupy and other movements.

reply to post by ubeenhad


Well then you would be one of the few exceptions. From what I saw in my admittedly short time on facebook was morons posting pictures of themselves and random idiotic quotes. If you say this is not what you do, then I believe you and apologise for my comments.

reply to post by tallcool1


Im said above that not everyone is going to use it to further democracy. But alot of people are. I know just my friends alone must have a better idea of whats going on because of my political updates. A lot of people may never have heard of the NDAA, but they sure as hell did if they were my friend.

And thanks for calling me kid. Facebook, and using words like hater keep me young.

reply to post by tallcool1


That appears to be the case. They took an adjustable rate mortgage, couldn't handle it when the payments went up, and now they are mad at the evil banks that are taking their house away. Look, it sucks to lose your home when you can't make the payments, but if they used so little judgement in purchasing the home as to sign an ARM, and possibly buy more house than they could reasonably afford, then that's on them ultimately. Making a stand against the people you agreed to pay by saying they are bad is just...bad.

reply to post by ubeenhad




Its a practice the banks have had around for a long time its nothing new, no big deal its called and "Adjustible Rate Mortgage". They signed the papers from the bank, everything is written in plain view if you take the time to read the print before signing your name. Don't wanna sound cold but you should read all the text before signing your name on anything if you don't and then get screwed, well its then your fault for not reading what your signing and nobody else's. I have no sympathy for these people this stuff happens to hundreds if not thousands of people every single day and has been going on for many years, where is the public outcry for those people that have already been down that road and why is this all the sudden an issue? Read WTF your signing, if you cannot read or understand it have an Attorney do it for you simple as that.

Originally posted by usernameconspiracy
reply to post by tallcool1

 

That appears to be the case. They took an adjustable rate mortgage, couldn't handle it when the payments went up, and now they are mad at the evil banks that are taking their house away. Look, it sucks to lose your home when you can't make the payments, but if they used so little judgement in purchasing the home as to sign an ARM, and possibly buy more house than they could reasonably afford, then that's on them ultimately. Making a stand against the people you agreed to pay by saying they are bad is just...bad.

Yup, you need to learn some economics buddy.
Why do you think the banks who loaned out all these adjustable rate mortgages at really low teaser rates are considered by most to be criminals? Try googleing that exact question see if it helps.

edit:

Those ARM's can come back and bite you in the hindquarters.

A poor financial decision on their part put them in this bind. Amazing how people have no idea what they are signing.

But of course it's the bank's fault. They must've forced them to sign those mortgage papers under duress.

Originally posted by bg_socalif
Those ARM's can come back and bite you in the hindquarters.

A poor financial decision on their part put them in this bind. Amazing how people have no idea what they are signing.

But of course it's the bank's fault. They must've forced them to sign those mortgage papers under duress.

ARMs are typically tied to the Prime Lending Rate, though, and that's at historic lows and has been for four years.

The real thing that kills people is "balloon loans". Here's how that worked, prior to 2008:

1) Person wants to buy house they can't even begin to afford
2) Bank offers "interest only" (if that) payment loan that allows them to make the mortgage payment
3) Loan only works because after some period of time (typically 5-10 years) there is a huge balloon payment that "catches up" the payments
4) Person can't make the balloon payment, then gets foreclosed on

Typically, the person was convinced to take a loan like this because, for as long as anyone could remember, real estate appreciated, so after ten years of interest only payments, the value of the home had risen to the point that it could be refinanced to get the balloon payment. After the housing crash, that was no longer the case, and so I'd guess that almost everyone who had a balloon payment coming due post-2008 has lost their home.

Now, I will certainly agree that banks made lots of poor decisions and played no small role in convincing people to take out loans that they probably shouldn't have, but where is the real problem in that process?

Person wants to buy house they can't even begin to afford

No one is entitled to a house, much less a "mc-mansion" with six bedrooms, two kitchens and a four car garage. As a starter home. I live in a neighbourhood that is packed with 30 somethings in 3000+ sq ft homes that are working themselves to death and missing the lives of their 1.5 children as they struggle to pay for something that they don't need. It's sad, really.

Originally posted by adjensen
No one is entitled to a house, much less a "mc-mansion" with six bedrooms, two kitchens and a four car garage. As a starter home. I live in a neighbourhood that is packed with 30 somethings in 3000+ sq ft homes that are working themselves to death and missing the lives of their 1.5 children as they struggle to pay for something that they don't need. It's sad, really.

Everything above this is well said.

I hate broad unverified statistics. And the whole "in my neighbourhood" argument is a perfect example.
The bigger issue is they USED to be able to afford it with better wages and lower cost of living. You can't say every American who has been forclosed on was done so because they are idiots? What about my neighbor who worked his ass off his whole life for one company and was aking 6 figures a year. He and his family lived in poverty for most of his life, so the chance to get a nice what you call mcmansion with 4 rooms, was an opportunity of a lifetime. He signed an ARM, and paid double mortgage payments for years. When the recession started hurting construction, his cabnet company didn't sell a cabnit for over a year. He was making minimum wage, trying to hold on, hoping things would turn around. They didn't and now he lives next to me, in my modest townhouse.
Explain how this man is at fault.

So is it a " media blackout" to blame for people who haven't heard of "Fort Hernandez" or is it because it is a bunch of irrelevant occupier deadbeats long past their 15 minutes? Hmmmm.