SoCal Jet Boats

Discussion => The No Wake Zone => Topic started by: 429heads on June 07, 2009, 07:03:40 PM

Title: Did you vote
Post by: 429heads on June 07, 2009, 07:03:40 PM

1.  OBAMA said that if I voted for McCain the unemployment would go up 15% now
2.  OBAMA said that if I voted for McCain that more homes would end up in for clouser
3.  OBAMA said that if I voted for McCain  that my savings would be gone 401k yes
4   OBAMA said that if I voted for McCain that the national dept would double it has
5.  OBAMA said that if I voted for McCain that it would hurt Big buisness good by G.M.C
               
                 SORRY I VOTED FOR MCCAIN NOW CAN I CHANGE MY VOTE
 
          CHEVY STOCK FROM $90.00 to .29 cents
       Ford owners you now have to pay child support to G.M.C Great-Massif- Cxnt

Title: Re: Did you vote
Post by: IRRebel on June 07, 2009, 07:07:40 PM

Elwood, that, completely in context, needs to be published!

Not only is it insightful, meaningful, and timely, but relevant!

Ray

And this is not a Ford vs Chebbie tang!

Title: Re: Did you vote
Post by: GT Jets on June 07, 2009, 07:11:33 PM

Sad but true.

My kids told me this one the other day..

Everybody said pigs would fly before we had a black president, guess what, 100 days into Obama's term and Swine flu :D

It really does not matter who the president is these days, the problem I think is the American people's sense of entitlement. Nobody wants to give anything back, we have been living too good for too long and it finally caught up with us.

GT

Title: Re: Did you vote
Post by: beerjet on June 07, 2009, 07:52:31 PM

Quote from: GT Jets on June 07, 2009, 07:11:33 PM

It really does not matter who the president is these days, the problem I think is the American people's sense of entitlement. Nobody wants to give anything back, we have been living too good for too long and it finally caught up with us.

GT

There you go using common sense again .
Geez Glen, when will you realize that there is no room for common sense on the internet.
I mean it only took Bush 8 years to ream us a new one as a nation.
I mean Obama has been in office for 6 months.
In theory all of his promises should have come true by now , RIGHT !  ::)


-beerjet-

Title: Re: Did you vote
Post by: GT Jets on June 07, 2009, 08:00:55 PM

Quote from: beerjet on June 07, 2009, 07:52:31 PM

There you go using common sense again .
Geez Glen, when will you realize that there is no room for common sense on the internet.
I mean it only took Bush 8 years to ream us a new one as a nation.
I mean Obama has been in office for 6 months.
In theory all of his promises should have come true by now , RIGHT !  ::)


-beerjet-

I know, I'm a kill joy  :-[  Just pisses me off that several people I know just stopped paying their mortgages because their home is not worth what they're paying for it, not that they can't afford it, boo fukking hoo, you would be there if the house made money on its value, whoever said real estate was a sure thing is a real estate agent... :banghead: :banghead: :banghead: :banghead:

GT

Title: Re: Did you vote
Post by: jet boat performance on June 07, 2009, 08:30:48 PM

Quote from: GT Jets on June 07, 2009, 08:00:55 PM

I know, I'm a kill joy  :-[  Just pisses me off that several people I know just stopped paying their mortgages because their home is not worth what they're paying for it, not that they can't afford it, boo fukking hoo, you would be there if the house made money on its value, whoever said real estate was a sure thing is a real estate agent... :banghead: :banghead: :banghead: :banghead:

GT

Soooo just being the "devils advocate" whats the advice to a young couple a year into their first mortgage who have a (maybe 200k ) property with a soon to "adjust" 300k "NUT" ;)

Title: Re: Did you vote
Post by: Luckie Stiff on June 07, 2009, 08:42:15 PM

Quote from: jet boat performance on June 07, 2009, 08:30:48 PM

Soooo just being the "devils advocate" whats the advice to a young couple a year into their first mortgage who have a (maybe 200k ) property with a soon to "adjust" 300k "NUT" ;)

A) Suck it up, get second jobs, cut all unnecessary expenses and hope for the market to come back soon.

B) Walk away and leave the neighborhood blighted by yet another overgrown lawn and abandoned house.

C) TALK to or better yet, write a letter to the mortgage company, explain the situation to them and see if there can be an adjustment made.  A guy I work with did just that, wrote them, explained that his O/T was gone, he'd taken a 10% pay cut and the stress of trying to pay his mortgage was literally making him ill, he asked if they could work something out, told them in no uncertain terms that if they couldn't, he'd walk. They dropped his APR by 3.5%, gave him 4 months grace period from any payments, erased all outstanding late fees and fixed his APR, this was done through Countrywide.

Good luck to everyone in this position, the worst is yet to come....

Title: Re: Did you vote
Post by: GT Jets on June 07, 2009, 08:44:28 PM

Quote from: jet boat performance on June 07, 2009, 08:30:48 PM

Soooo just being the "devils advocate" whats the advice to a young couple a year into their first mortgage who have a (maybe 200k ) property with a soon to "adjust" 300k "NUT" ;)

LMAO, knew that was coming....All I can say is what is the alternative? My house right now is worth about 90% of what I owe on it.

If you can afford to wait it out, make the payments on time and just hope the market comes back, what difference does it make? They were able to get the loan to start with, so obviously unless they lose their jobs, they can afford the payments...Right???, So what alternative is there? If you simply walk away, you completely jack you're credit for 3-4 years, hopefully by then the market would have stabilized, but housing will have gone up, so you'll be making the same payment anyways, I don't see a difference either way..A home is supposed to be a lifetime thing, not a get rich quick scheme like we have gotten used to. I could have sold my house for close to $780,000 2 years ago, now maybe $600,000.

Maybe someone can enlighten me, I have no way out or would have done it already.

I claimed BK 13 years ago, my credit has only recently gotten to a point where I'm not embarrased about it.

That being said, I don't have a $50,000 boat and don't take trips I cannot afford (like my friends)...

GT

Title: Re: Did you vote
Post by: GT Jets on June 07, 2009, 08:54:06 PM

Quote from: Luckie Stiff on June 07, 2009, 08:42:15 PM

Good luck to everyone in this position, the worst is yet to come....

True that!

Title: Re: Did you vote
Post by: GT Jets on June 07, 2009, 09:01:40 PM

One more thing, while we're on the subject, I bought my first "brand new vehicle" in my life in 2005 and I am 41 years old, my last truck was 11 years old and the one before that was 30 years old, I am not spoiled by any stretch of the imagination...BTW my motorhome is a 1984. I am currently living in my second ever home.....Making the bills by spare change every month.

GT

Title: Re: Did you vote
Post by: Sanger Pete on June 07, 2009, 09:26:37 PM

Quote from: 429heads on June 07, 2009, 07:03:40 PM

1.  OBAMA said that if I voted for McCain the unemployment would go up 15% now
2.  OBAMA said that if I voted for McCain that more homes would end up in for clouser
3.  OBAMA said that if I voted for McCain  that my savings would be gone 401k yes
4   OBAMA said that if I voted for McCain that the national dept would double it has
5.  OBAMA said that if I voted for McCain that it would hurt Big buisness good by G.M.C
               
                 SORRY I VOTED FOR MCCAIN NOW CAN I CHANGE MY VOTE
 
          CHEVY STOCK FROM $90.00 to .29 cents
       Ford owners you now have to pay child support to G.M.C Great-Massif- Cxnt

Maybe it's the fumes from (interior house) painting all day, but I thought Obama won?

Title: Re: Did you vote
Post by: GT Jets on June 07, 2009, 09:34:42 PM

Quote from: Sanger Pete on June 07, 2009, 09:26:37 PM

Maybe it's the fumes from (interior house) painting all day, but I thought Obama won?

LMAO, won what?    ;D      O0 Talk about a boobie prize >:D

GT

Title: Re: Did you vote
Post by: GlassCutter on June 07, 2009, 10:02:16 PM

If he wants to stay in the house for 10 years either shop for another loan or just continue paying as in the past.  10 years from now he will most likely be looking at a $300K house again.  Less time eh, maybe not.
Loans are at all time lows again right now, might be worth a look

Title: Re: Did you vote
Post by: beerjet on June 07, 2009, 10:09:38 PM

Kinda funny (not really) years ago when this whole real estate boom was just getting started, me and my wife were getting qualified for a home loan and our loan officer told us, "I can get you a loan for whatever amount you want , but I wouldnt get more than you could afford."
So we settled on an amount we could afford and even with all these shakey loan programs out there we realized that no matter what the value WOULD be, we were going to get into a payment we could afford and not some intrest only B.S.

Unfortunately anything worth moving into was out of our range.
Even as my pay went up.
House prices stayed just on the outskirts of our reach.
Of course I now and still live in an apartment with my future debateable at best.
I take it day by day and try and not kill anybody in the process.
My wifes $20k 401k is now gone and we are still getting by.

Now Obama's job is to pull the entire world economy out of the shitter and all people do is complain about how he aint done squat in 6 months.
Amazing really since none of this is his fault to begin with .

-beerjet-

Quote from: GT Jets on June 07, 2009, 09:34:42 PM

LMAO, won what?    ;D      O0 Talk about a boobie prize >:D

GT

Title: Re: Did you vote
Post by: zudnic on June 08, 2009, 10:34:57 AM

I'm not a Obama fan, not just conservative, an actual Republican as in system of government, not the party! Socialism is the same as communism--do as I say not as I do, everyone in the same boat that we the liberal elites rule over everyone.

The big mistake and was more the Clinton administration; was making real estate loans attached once again onto the secondary financial markets (stock market). It was detached, as it was one of the primary reasons the U.S entered the great depression! In short it was the Clinton era and administration that created; why rent when you can own your own home? Oh, don't worry we the federal government can and will always keep interest rates low. The last being the greatest myth. Slowly over Clinton's 8 years, somewhat stable banking was re-attached to the secondary finance markets, high risks, not stable. As proven by the 1920's lets have a roaring party because we are all rich on borrowed cash--creates a situation that fractional banking can work in reverse when attached to the stock market. Lets detached it and avoid another great depression roaring 1920's scenario. It worked for 60 years, until it takes a global village to raise a kid to live in a just liberal utopian dream world Clinton and his first not a lady, but a b$tch of a wife Hillary came along! What they created with their administration was the greatest smoke and mirror show, that has led to the deepest recession since the great depression. Either party or anyone who became President with this perfect storm mechanism ignoring that fractional banking can operate in reverse when tied to the stock market, would be totally screwed----except with leftist Obama we are even more screwed! Hence why with the current administration's global warming--lets take over G.M cause we can force clean air emissions, blah,blah,blah crowd. My industry is enemy number one. Despite it being very profitable in tough economic times! Fled to Canada for more gold that we can actually mine!  8)

In summary, the current crisis makes 1929 look like a walk in the park. The current financial crisis is spreading and it is worldwide. Did you know that Swiss banks loaned money on residential real estate in Poland and Hungary, and who knows where else, IN SWISS FRANCS!  When the rumbling recession hits Poland and Hungary, how will these loans be repaid if the Swiss Franc has appreciated 20% or more to their currencies. However, a 2% mortgage was great while it lasted.

Real estate is collapsing in the USA, Ireland, England and Spain. And don’t be fooled by the talking heads on CNBC, the conflagration is spreading rapidly. First sub-prime, alt-A, regular mortgages, commercial paper–then coming soon, crises in commercial real estate, the stock market, Goverment sponsored entities like Ginnie Mae, then credit card debt, and pretty soon you’re talking real money.

There is a model for the current situation and it is the deflationary collapse that occured in Japan in 1990 and CONTINUES TO THE PRESENT DAY. You will recall that the Japanese became overexuburent with real estate leading up to the 1990 collapse. Ben Bernanke is a major problem for the markets and the American Empire, since he has views that could result in a major depreciation of the US dollar, similar to what happened to Britain in the last century. Those who take a hard look at what Bernanke stands for have reason to worry. With Obama as President that worry increased ten million times................................. Obama is a million times worse than Carter during the 1970's. We need another late great Ronald Reagan, hopefully in 4 years, we'll have that candidate running--who will ask that simple question. Are you better off from 4 years ago?


 

Title: Re: Did you vote
Post by: riser39 on June 08, 2009, 12:37:52 PM

"Those who ignore history are doomed to repeat it"