Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Gossip & Opinions => Topic started by: boonstack on October 04, 2008, 04:00:55 PM
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and i thought I was white trash ::)
http://articles.moneycentral.msn.com/Taxes/CutYourTaxes/make-32k-youre-in-the-richer-50percent.aspx
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And for over a decade banks have been handing out $200k - $300k mortgages to these low income earners. Now you understand why there is such a foreclosure crisis in the US right now. Many people who had such poor credit history that they couldn't even rent a decent apartment turned around and got huge mortgages from the major banks.
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where are you from big guy?
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Illegal immigrants where getting mortgages from the banks
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sounds to me some kinda COMMUNISM is going on fucking america up!!!
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shit, are only 20.000 euros
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shit, are only 20.000 euros
thats what some people spend on supplements alone to support the sport
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shit, are only 20.000 euros
wow, thats not much.
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And for over a decade banks have been handing out $200k - $300k mortgages to these low income earners. Now you understand why there is such a foreclosure crisis in the US right now. Many people who had such poor credit history that they couldn't even rent a decent apartment turned around and got huge mortgages from the major banks.
You are right and wrong. Did many people making 32,000$ and less get mortgages they couldn't afford? Yes. But the only way to qualify for those stated loans was to have good credit. If someone was 21 and worked at McDonalds, lived with their parents and payed their car payment for example on time for a few years and had a 680 plus middle score, they could lie about their income(and job) and obtain large mortgages. It was virtually impossible to obtain a mortgage without income verification with someone with poor credit though.
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sounds to me some kinda COMMUNISM is going on fucking america up!!!
Nope, just good old fashion capitalism at its finest
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Nope, just good old fashion capitalism at its finest
didnt poor fuckrs with no money get loans so they could get houses they couldnt afford and then the bank took money from taxpayers to clean up that mess? now that doesnt sound like capitalism at it finest to me
that sounds like some communist plan to let poor bastards buy shit they cant afford!
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didnt poor fuckrs with no money get loans so they could get houses they couldnt afford and then the bank took money from taxpayers to clean up that mess? now that doesnt sound like capitalism at it finest to me
that sounds like some communist plan to let poor bastards buy shit they cant afford!
Exploitation of the working class, wringing every last drop of blood out of them, is the essence of modern short term view capitalism. The impending worldwide depression is the result.
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You are right and wrong. Did many people making 32,000$ and less get mortgages they couldn't afford? Yes. But the only way to qualify for those stated loans was to have good credit. If someone was 21 and worked at McDonalds, lived with their parents and payed their car payment for example on time for a few years and had a 680 plus middle score, they could lie about their income(and job) and obtain large mortgages. It was virtually impossible to obtain a mortgage without income verification with someone with poor credit though.
Untrue. There were many sub standard loans on interest only basis. Sub standard basically meaning shitty credit. With enough of a downpayment, almost anyone with a verifiable income regardless of how bad their credit was. I have relatives, who had to foreclose on their home in CA, who had fucked credit and were able to mortgage a home. Lol, guess who them came to ask for help with their mortgage?
The banks and loan companies KNEW that this could happen. With 3-5 year ARMs they KNEW that people who qualified for the low rate now, would probably default once the ARM was up, but they didn't care because THEY DON'T HAVE TO REIMBURSE WHAT THEY MADE on the deal.
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I have to assume that's for a single income and not house hold? Either way thats sad if there are kids involved. That being said it's also pathetic because alot of those people are probably depending on the government to help support that family. Again, unless you have a mental disability, there is no reason in the world why a person can't find a way to make more to keep their family at the very least pay the rent on time. If you can't find a way to do that.......then it's just flat out lazyness. I know people like that and it pisses me off to know end >:(
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Untrue. There were many sub standard loans on interest only basis. Sub standard basically meaning shitty credit. With enough of a downpayment, almost anyone with a verifiable income regardless of how bad their credit was. I have relatives, who had to foreclose on their home in CA, who had fucked credit and were able to mortgage a home. Lol, guess who them came to ask for help with their mortgage?
The banks and loan companies KNEW that this could happen. With 3-5 year ARMs they KNEW that people who qualified for the low rate now, would probably default once the ARM was up, but they didn't care because THEY DON'T HAVE TO REIMBURSE WHAT THEY MADE on the deal.
Yes, you are talking about verifiable income and I was referring to stated loans, meaning no income verification. Stated loans, even with a substantial down payment were never offered to people with poor credit, at least in Michigan. As far as your relatives with foreclosures, I agree it was ridiculous, a few subprime banks overlooked foreclosures after only 6 months. But still, you needed to provide income verification.
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You are right and wrong. Did many people making 32,000$ and less get mortgages they couldn't afford? Yes. But the only way to qualify for those stated loans was to have good credit. If someone was 21 and worked at McDonalds, lived with their parents and payed their car payment for example on time for a few years and had a 680 plus middle score, they could lie about their income(and job) and obtain large mortgages. It was virtually impossible to obtain a mortgage without income verification with someone with poor credit though.
Hey danny, as someone who's a financial guru type, what do you think of the bail out bill?
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Hey danny, as someone who's a financial guru type, what do you think of the bail out bill?
Lol, I appreciate the compliment, but my profession was part of the problem. "Hey, I know things will be tight for a year, just call me in 12 months and we will pull out 10 grand and get you a better rate." I fucked a lot of people, I had no clue what was going to happen, but I definitely pushed ARMS for repeat business, even though I knew they were bullshit loans. I never thought the values would crash though. :( I know very little about the bailout bill tbh.
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Lol, I appreciate the compliment, but my profession was part of the problem. "Hey, I know things will be tight for a year, just call me in 12 months and we will pull out 10 grand and get you a better rate." I fucked a lot of people, I had no clue what was going to happen, but I definitely pushed ARMS for repeat business, even though I knew they were bullshit loans. I never thought the values would crash though. :( I know very little about the bailout bill tbh.
HAHAHAHA!!!!!! LMAO at the "I fucked a lot of people" ;D
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WTF does this have to do with Getbiggers? The average Getbigger sits on the board of directors of 3 or 4 Fortune 500 companies, owns 5 mansions, speaks 7 languages, drives 4 different types of ferraris, and owns many ocean front properties on the luxurious shores of Dubai, India.
Who cares what our gardeners, maids, butlers, limo drivers etc make? I just leave all those details to the staff of accountants that handle my finances. Mods please close this irrelevant thread.
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and i thought I was white trash ::)
http://articles.moneycentral.msn.com/Taxes/CutYourTaxes/make-32k-youre-in-the-richer-50percent.aspx
you are white trash
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You are right and wrong. Did many people making 32,000$ and less get mortgages they couldn't afford? Yes. But the only way to qualify for those stated loans was to have good credit. If someone was 21 and worked at McDonalds, lived with their parents and payed their car payment for example on time for a few years and had a 680 plus middle score, they could lie about their income(and job) and obtain large mortgages. It was virtually impossible to obtain a mortgage without income verification with someone with poor credit though.
I worked with a kid last year that got his $300,000 house at 19 with low 600 credit score and somehow used his INHERITANCE from his grandmother to get the loan. It would have given him $80,000 when she kicked. The only problem? She wasn't even 65 years old and will probably live another 10-12 years. Last I knew, he's now living out of his car.
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And for over a decade banks have been handing out $200k - $300k mortgages to these low income earners. Now you understand why there is such a foreclosure crisis in the US right now. Many people who had such poor credit history that they couldn't even rent a decent apartment turned around and got huge mortgages from the major banks.
Yes what should have happened is that the banks should have refused mortgages then the house prices would have collapsed and they would have been able to buy a house at a realistic market price.
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I love reading coach's posts when money is involved, I hope he has to deal with alot of people in his day to day life who dont work much and live well off the goverment :)
The second obama makes his acceptance speach I will think of coach's sour face and the money he will be handing over to the lazy poor people who rather take his money then work harder ;D
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I love reading coach's posts when money is involved, I hope he has to deal with alot of people in his day to day life who dont work much and live well off the goverment :)
The second obama makes his acceptance speach I will think of coach's sour face and the money he will be handing over to the lazy poor people who rather take his money then work harder ;D
Lol.
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Nope. I already have plans to bypass that .......just in case. Obama can kiss my hairy nut weasel.
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32,000 is much different income in the south then the north.... 32,000 for a single bachelor isnt bad in texas
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apt for a 1000 square foot in cali... over $1000 in texas $500
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32k in Florida is good, these days.
32k in California wouldn't get you breakfast.
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32k in Florida is good, these days.
32k in California wouldn't get you breakfast.
Why does fucking florida pay so low? Fucking IT jobs down there pay bullshit and they want you to know every system and programming language under the sun. Fuckers. >:(
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Rob thinks if Obama becomes president, his taxes won't go up...hahahahahahaa!
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Obama and taxes are the least of your worries....
You're still strugling with the Troopergate issue....
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Why does fucking florida pay so low? Fucking IT jobs down there pay bullshit and they want you to know every system and programming language under the sun. Fuckers. >:(
Talent from South/Central America will take a pay cut for the job. What would you do if you could only make 4000$ yrly in your country for an IT/IS job. Competition drives down prices. You're lucking folks from India arent getting outsourced jobs. Then...you'd be getting that unemployment cheque.
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Rob thinks if Obama becomes president, his taxes won't go up...hahahahahahaa!
Rob thinks if Obama becomes president we'll see a similar upswing along the lines of Clinton. That's what us foreigners are looking for also. McCain = continued Bush policies. How in the world can he say with a straight face that he fights Repub when he has been the leader of the pack for 35 yrs? How can people be dumb enough to even listen to that? I turn off the tube. Yeah...we'll be fighting Iran in the hills also...need a draft for that one. Military isnt large enough to fight three fronts at the moment.
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McCain = continued Bush policies.
what makes you think this? because keith oberman says so? McCain is one of the most liberal republicans in history. just because he doesnt want to pull out of iraq immediately to make sure they stay stable is not bush politics.
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what makes you think this? because keith oberman says so? McCain is one of the most liberal republicans in history. just because he doesnt want to pull out of iraq immediately to make sure they stay stable is not bush politics.
what's make you think he is about change...because he copied Obama's "change" speech in his ads, or he got the genius for VP who is one-beat away from reading cue cards to foreign leaders?
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what's make you think he is about change...because he copied Obama's "change" speech in his ads, or he got the genius for VP who is one-beat away from reading cue cards to foreign leaders?
oh brother.. someones actually falling for the change bullshit.
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oh brother.. someones actually falling for the change bullshit.
Thanks. I'm glad understood what I was saying. As usual...smarta$$ getdumb reply when you truly dont understand the response.