DawnIsis

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    • Sun Dec 9th 21:23 PM | Rating: 0 0
      Commented on:
      The Government's Subprime 'Bailout' Plan Will Kill the Housing Market
      It is wrong, wrong, wrong to not allow the market to correct itself on its own regardless of the consequences. I have been saving my down payment and building my credit for years preparing to buy my 1st house and I am just waiting for the house prices to bottom out.

      This "plan" will ARTIFICALLY stabilize house prices, so unless someone wants to send me my government issued check to compensate me for the money they will be stealing from my purse they better drop this bailout idea.
      View article »
    • Sun Dec 9th 09:41 AM | Rating: 0 0
      Commented on:
      ARM Bailout Unfair to Responsible Borrowers
      goforth,

      I think you were being sarcastic when you listed the requirements that should be necessary for potential homebuyers, but the sad, sad truth is that is exactly what needs to happen.

      I don't believe these millions of people were unaware that if you don't have EXCELLENT credit and a down payment you will not get a good loan and the worse you credit and down payment the worse your mortgage terms. You don't need to take a test to know that or even heaven forbid read a book.

      I am sick of the excuses, if a person is incapable of thinking and reasoning, i.e. STUPID, then they should find a supportive network of people either in their family or community to help them make all of their life decisions. Let's not pretend the resources for assistance aren't out there.
      View article »
    • Sun Dec 9th 09:07 AM | Rating: 0 0
      Commented on:
      ARM Bailout Unfair to Responsible Borrowers
      <blockquote>When I am sick, I go to the doctors. I believe what the Doctor tells me. When my car needs fixing, I go to a mechanic and I believe what the mechanic tells me. When I need a mortgage I go to a mortgage broker/Bank and I BELIEVE what they tell me.</blockquote>

      This statement reflects a total lack of responsibility for yourself and your family (sincerely hoping you have no children yet). Responsible people do not accept and rely on the judgement of others, regardless of their expertise. You CONSULT with these professionals in order to make informed decisions about your situation. You do not just swallow pills and get surgery based on what your dr. says, you go home and research and research and research and then you get a second opinion, then and ONLY then do you make a decision.

      The same is true for every life situation. Your ability to think and reason is the deciding factor to your life's outcome and your happiness. Don't blindly do what anyone advises EVER.
      View article »
    • Sun Dec 9th 08:46 AM | Rating: 0 0
      Commented on:
      ARM Bailout Unfair to Responsible Borrowers
      After reading the comments I just wanted to add my 2 cents. I am in my late 20's and have been married for 3 years and like most people we "expected" as a married couple we should immediately buy a house, but as soon as we started trying to understand the mortgage process we realized we should remain renters and build our credit scores and save 20% for a down payment.

      It has taken us the entire 3 years to do this and we made huge sacrifices to achieve our goals. This is how responsiblity works. BEFORE you apply for a mortgage you read books, ask questions, and do research and IMO you should have at a minimun 10% to put down if not 20% like us.

      We have not yet purchased a home because we are waiting for the market to bottom out so that we can get an even better deal. Needless to say I am against this bailout and I feel no pity, in fact I feel contempt for anyone who did not make the sacrifice it takes to own a home THE RIGHT WAY.

      I notice alot of people blaming everyone for their problems but themselves, shame on you people.
      View article »
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