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09-13-2008, 09:22 PM
| #21 | |
| Quarry Creeper   Join Date: Apr 2008 Location: Spring Hill
Posts: 290
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 It is explained thoroughly to them by a third party when they sign the paperwork
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09-13-2008, 09:25 PM
| #22 | |
| I wanna be Dave  Join Date: Jun 2005 Location: The bunker
Posts: 3,767
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What plan?? You are an absolute idiot. Please go outside and hang yourself immediately. Thanks. Quote:
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09-13-2008, 09:28 PM
| #23 | |
| Newbie Join Date: Aug 2008 Location: Tuscaloosa
Posts: 32
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09-13-2008, 09:32 PM
| #24 | |
| Rock Crawler Join Date: May 2008 Location: Mansfield, PA
Posts: 560
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I have seen this issue over and over first hand and it is by NO MEANS the peoples fault. YOU could lose EVERYTHING tomarrow:-(  Last edited by Trugg; 09-13-2008 at 11:56 PM. | |
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09-13-2008, 09:36 PM
| #25 | |
| Rock Crawler Join Date: May 2008 Location: Mansfield, PA
Posts: 560
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09-13-2008, 10:00 PM
| #26 | |
| RCC Addict Join Date: Dec 2007 Location: On The Lake
Posts: 1,449
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09-13-2008, 10:01 PM
| #27 | |
| RCC Addict Join Date: Dec 2007 Location: On The Lake
Posts: 1,449
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09-13-2008, 10:19 PM
| #28 | |
| Quarry Creeper Join Date: Apr 2008 Location: Spring Hill
Posts: 290
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09-13-2008, 10:31 PM
| #29 | |
| I wanna be Dave Join Date: Jun 2005 Location: The bunker
Posts: 3,767
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It's called life...... Risk....... Deal with it. Dammit you whining FAWK!!!! If I lose everything tomorrow I won't come whining to the government to help me out especially if I lose everything because I over extended my own finances. I definitley won't blame the government. I don't understand your reasoning. Do you want the government to take care of everything for you? Lets start a bail Trugg out of his stupidity fund. Just in case something goes wrong he will have a safety net. Quote:
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09-13-2008, 10:42 PM
| #30 |
| RCC Addict Join Date: Nov 2007 Location: in the woods
Posts: 1,915
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2.5% 7 year ARM with a 13% max increase after the lock in expires.... Does that mean anything to anyone? |
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09-13-2008, 10:47 PM
| #31 | |
| I wanna be Dave Join Date: Jun 2005 Location: The bunker
Posts: 3,767
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That means you're in trouble. Don't buy the house. Go rent. Save money until you can make a bigger down payment. Have the loan officer explain it in terms you can understand. Make a budget . Live on what you earn. Never use credit cards. Get a 15 year fixed mortgage with the payment no bigger than a quarter of your take home income. Quote:
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09-13-2008, 10:47 PM
| #32 | |
| Quarry Creeper Join Date: Jul 2005 Location: pleasant ridge
Posts: 317
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09-13-2008, 10:49 PM
| #33 | |
| I wanna be Dave Join Date: Jun 2005 Location: The bunker
Posts: 3,767
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AMEN...... Quote:
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09-13-2008, 10:50 PM
| #34 |
| 06 Super National Champ   Join Date: Jun 2004 Location: Stark Industries Bar and Grill
Posts: 11,361
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Yeah, when we came to Augusta the wife and I drove around looking for a house. Found a sweet place on 9 acres with a pond, 3,000 sq. feet, marble/hardwood floors, carport that could cover about 12 cars, 4-car garage, tennis courts, etc. Nice place. Were we approved for that amount? Yeah. Could we make the payments on that then? Yeah. Did we buy it? No. We bought something at 1/2 the price instead. |
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09-13-2008, 10:52 PM
| #35 | |
| Quarry Creeper Join Date: Jul 2005 Location: pleasant ridge
Posts: 317
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09-13-2008, 10:53 PM
| #36 | |
| I wanna be Dave Join Date: Jun 2005 Location: The bunker
Posts: 3,767
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Jason, I like you better all of the time. Quote:
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09-13-2008, 10:53 PM
| #37 | |
| Quarry Creeper Join Date: Jul 2005 Location: pleasant ridge
Posts: 317
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09-13-2008, 11:09 PM
| #38 | |
| Rock Stacker Join Date: Mar 2007 Location: Romeo
Posts: 97
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As a kid I never got cash advances from my parents, if i wanted something, I saved or put it on layaway until i could get it. for most people buying a house is the biggest investment or purchase of their life. Stuff like that needs planning in case of economic down turn or rising oil prices. When I make big purchases of stuff over 1000 dollars I figure in what I make in a week minimum, no over time. Then I figure in getting sent home early a few days a month to find out if I can afford it. It's all in the planning. I factor gas, food, rent, bills, and any emergency stuff that could happen. I also have a credit card that has a large limit on it that i don't use in case my car breaks down. To me its just common sense, but then again its been beat in to my brain since day one. You have no idea how frustrating it was being younger and wanting something so bad and having to wait an extra month to gather up cash instead of getting my parents to give me the money to get it right away. Stop passing the blame on to the banks ( its not right to loan to people who should not qualify in the first place though) People have to stand up for there **** ups now days. There is a serious lack of responsibility. /end_rant Last edited by ian48065; 09-13-2008 at 11:12 PM. | |
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09-13-2008, 11:36 PM
| #39 | |
| Quarry Creeper Join Date: Dec 2006 Location: dot com
Posts: 362
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09-13-2008, 11:37 PM
| #40 | |
| RCC Addict Join Date: Nov 2007 Location: in the woods
Posts: 1,915
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Those type of loans are not meant to go full term, they are there to get people with little money down into a house and building wealth. | |
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