I lost my home- CC shout out.

[Tucker]

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x7629208

GiveMeFreedom  Donating Member  (227 posts) Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Wed Feb-03-10 01:30 AM
Original message
Lost my house today
   
Yep, Bank of America said I do not qualify for the making homes affordable loan program. It seems I make enough money, that my wife's and my income is $11.098.89 a month gross or $133,000 dollars a year.

WHAT THE ****???!!!!????

I am a construction worker, I admit I made great money when the housing market was building like crazy, yea it was easy to make $80k plus a year working 2200 hours or more a year. And my wife is a teacher who makes an easy $50K a year, so yea, $130,000 a year was good, damn good. That was right up to 2007. I knew before most that something was terribly wrong, as the big home builders where building less and buying less. I watched as my job went from 40+ hours a week to maybe 2 weeks a month of less than 40 hours. But the damage was done.

We had all ready bought our dream home in 2004

Sure we got caught up in the easy money, but we could afford it. We lived real right and happy. Making that house payment was too easy. So we took out a second.

Huge ****ing mistake!@@!@#$

Looking back that was the straw that broke me.

My income has been severed by more than half and jobs for a 52 year old heavy equipment operator are so far and few between, that I have quit even trying. I really have no other marketable skill that pays as well as that job does and at my age employers are not really willing to train me for a well paying job.

Since mid 2008 right up to today right here in 2010, we tried to keep our home. At first we could not make payments or just quit paying all together. We hired one of those "we'll help you keep your house" agencies, that in a nutshell, did not work obviously, but they got theirs.

Then B of A (bank of assholes) offered us one of those making homes affordable trial programs. My wife and I where ecstatic, we would be able to keep our home. So in late 2009 we started sending in the trial payments hoping that we would finally get a break. We paid all three of the trial payments and have kept paying since, no lates and on time.

BUT NO!!!

I received a letter today that says we make to much money and should be able to afford the original payment, so no break for us. Of course at the end of the letter they acknowledge that we must be going through difficult times and wish us well?

WHAT the ****???!!!

In the letter, B of A said that after careful review of our financial statements (bank records, pay stubs, unemployment stubs, etc. over a years worth) they have computed that our gross monthly income is $11,000 a month or $130k a year.

Where the **** did they get that ****ing number from??? huh???!#@

As I look at my official U.S. government documents or W-2's for 2009, I notice that my total income for 2009 was $36k, $13k of it unemployment. My wife is at her $50K. Adding it all up, well you do the math. It is not no way in heaven, hell, congress, or B of A's little computer adding up to $133k a year.

I called B of A immediately and told them exactly what I made last year, as reported by my employers on my W-2's. Guess what?

It doesn't make a ****ing difference to them what my W-2's say?????@#!@!!!@%$#

Are you kidding me?

I guess what B of A really wants is my dream crushed and my family to rent a home. They want us out plain and simple. So they come up with these imaginary numbers from only the Devil knows where and stand back knowing that I will capitulate and say..

Hey, Bank of America, **** YOU!!! I QUIT, YOU WIN MOTHER ****ERS!

All in all it's probably a good thing. The house is so upside down in debt that I can see China outside my window. Rent in my area is around $1000 to $1500 a month, so we will be able to actually save money. The stress of being a "Moral Hazard" will be complete and I can own that, a relief really.

There is a lot of blame to go around about this financial meltdown and the shenanigans behind it. You can blame me for being greedy maybe, even stupid more likely as I did my small part to **** up my American dream. But you have to admit I was not a big player in all of this, just another of the 13 million Americans who are finding out the hard way...

The Financial Institutions don't give a ****!!! The government doesn't give a ****!!! My Senators don't give a ****!!!, My Congressman doesn't give ****!!!

And I am starting to believe the President doesn't really care about main street to much either. Geez!!! imagine that!

So condemn me if you wish, call me what you will and have your way with my small intellect, I will just refuse to fix the potholes in your highways and hope they grow and grow!!

Now I need to figure out how long I can stay here and how much I can save before they come. ****ers.

Rant over,I feel a little better, cya on the front lines of the revolution.

Bought a house in 04 and by 07 had taken out a 2nd. What did you do with the money?

Freedom4me  (37 posts) Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Wed Feb-03-10 01:46 AM
Response to Original message
4. soo.
   
So, had a market based job, yet spent like it was a fixed income, and made "Huge ****ing mistake!@@!@#$" (by your own admission) - how can you blame that on anyone?

They want you to rent a home and your dream crushed....well you cant afford your dream, so...you should be happy your wife and you make enough to make a decent living. surely not the living you feel entitled to, but....I'd be very blessed to be in your position. With that extra income pre 2007, that could have been a nice savings account or investment money.

If I loaned you money for a house and you couldnt pay me back, id be pissed at you...seems to be the other way around here?

Is it lunch yet?

scheming daemons  Donating Member  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Wed Feb-03-10 01:55 AM
Response to Reply #4
9. Except that he WAS working out a payment plan, and BofA lied about his income to screw him
   
Edited on Wed Feb-03-10 02:04 AM by scheming daemons

Go away.

Sure they did.

Freedom4me  (37 posts) Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Wed Feb-03-10 01:58 AM
Response to Reply #9
11. wut
   
You guys here are brutal.. I just signed up here, so I may be a little more fresh on the rules than some of you..

"3. Civility: Treat other members with respect. Do not post personal attacks against other members of this discussion forum."

You tell people you disagree with to "go away" ?

I was not disrespectful in any way, I dont understand?

scheming daemons  Donating Member  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Wed Feb-03-10 02:00 AM
Response to Reply #11
13. "I was not disrespectful in any way"
   

Except to basically call the OP a loser, albeit without using that word.

scheming daemons  Donating Member  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Wed Feb-03-10 02:05 AM
Response to Reply #17
21. "If I loaned you money for a house and you couldnt pay me back, id be pissed at you."
   

I repeat... you're not fooling anybody.


conservativecave.com is thataway --------->

[miskie]

GiveMeFreedom is startin' to sound like one of dem teabaggers !! - A WITCH!! A WITCH!!!!

[NHSparky]

A construction worker that makes nearly $40 an hour?

I'm calling BS, even in a union shop.  I see what guys from the hall get, and it ain't anywhere near that.  Hell, even MY base rate isn't that high.

And FWIW, DUmmies, claiming 2200 hours in a year might SOUND impressive on it's face, but it comes out to barely 2 hours of OT per week, hardly worth getting your panties in a wad over.  Call me when you hit 800 hours of OT.

[Specbid]

GiveMeFreedom is startin' to sound like one of dem teabaggers !! - A WITCH!! A WITCH!!!!

She turned me into a newt...I got better.

[Specbid]

I guess what B of A really wants is my dream crushed and my family to rent a home. They want us out plain and simple.

Sorry dude,not true at all. People get mad at the banks in times like this, but the LAST thing they want is another house foreclosure. They'll lose money. They want you to pay your mortgage.

If they're not willing or able to work with you, I'm betting there's something you're not telling .

[Tucker]

Sorry dude,not true at all. People get mad at the banks in times like this, but the LAST thing they want is another house foreclosure. They'll lose money. They want you to pay your mortgage.

If they're not willing or able to work with you, I'm betting there's something you're not telling .

This should be a generic statement that can be used in every DU thread. Remember that DUmmy's lie. All the time. They lie.

[Carl]

My income has been severed by more than half and jobs for a 52 year old heavy equipment operator are so far and few between, that I have quit even trying.

Screw you then,life has served up some difficulty so you run away crying.

Is there such a thing as a real man at the DUmp?

[Specbid]

This should be a generic statement that can be used in every DU thread. Remember that DUmmy's lie. All the time. They lie.

Yes. And it's always someone else's fault. At least he didn't blame Bush.

[miskie]

Sorry dude,not true at all. People get mad at the banks in times like this, but the LAST thing they want is another house foreclosure. They'll lose money. They want you to pay your mortgage.

If they're not willing or able to work with you, I'm betting there's something you're not telling .

If the OP isn't a mole - I suspect he is upset because he did not get his free pony for making less than 250K a year. He has also discovered that Obama has hidden all sorts of fee increases throughout his policies because they are called things other than 'Tax' - why else would he be upside-down on a mortgage ? The value of his home artificially inflated because of government programs and requirements, and he was fool enough to believe them-

For example also - the 'stimulus' :

Anyone with a partially functioning brain knows that the inflation this will generate will affect everyone, making what one earns now worth less than it is today. There may not be any new payroll deductions, but when a dollar today only buys 85 cents worth of goods tomorrow one now has 15% less capital to work with because of government action. is it a tax ? no.. Does it have the same effect on your wallet as a tax ?  You Betcha.

[Specbid]

And I am starting to believe the President doesn't really care about main street to much either. Geez!!! imagine that!

Told ya.  Nah nah nah nah nah

[Karin]

He suggests that since he cannot find anything that makes him $80K in a year, then it's OK just to sit on the sofa.  It doesn't work that way.  Keeping your house in tough economic times takes some fight, and if necessary, swallowing some pride.  He could find something, anything.  If he found something for $40, combined with his wife's $50, that's a pretty nice living.  I have no sympathy.  Get off the couch.  

The shoutout------>  was pretty funny.  

BTW, who is our newest member with the Che avatar?  No posts yet, I see.  

[Specbid]

Rent in my area is around $1000 to $1500 a month, so we will be able to actually save money.

Then rent one of your rooms. Should help you pay your mortgage.

[ScubaGuy]

JVS  Donating Member  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Wed Feb-03-10 02:32 AM
Response to Original message
46. How much was your monthly payment that you and the wife couldn't swing it on $86K?
   

GiveMeFreedom Donating Member (227 posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Wed Feb-03-10 02:52 AM
Response to Reply #46
64. Really?
   
$3100.00 a month, but hey, my life is an open book now.

$3100.00 A MONTH!  Holy crap how much of a mortgage did this guy take out?

[JohnnyReb]

He didn't learn much at the school of hard knocks in 52 years.....must have always gotten social promotions.

[whiffleball]

Another DUmbazz lives beyond his means during the awful Boosch years and now it's the banks fault

[NHSparky]

$3100.00 A MONTH!  Holy crap how much of a mortgage did this guy take out?

At current 30-year rates, over $500K.  Even at the rates in 2004-07, it's in the high 400's, at least.

[franksolich]

Why does one suppose comment #21, cited here, got deleted over on Skins's island?

[IassaFTots]

At current 30-year rates, over $500K.  Even at the rates in 2004-07, it's in the high 400's, at least.

Holy Schnikies! 

[Ralph Wiggum]

Why does one suppose comment #21, cited here, got deleted over on Skins's island?

Gee, I wonder.

[Tucker]

Why does one suppose comment #21, cited here, got deleted over on Skins's island?

It was a notification of where the DUmmy's can go and read all the deleted comments at the camp ground. We provide a service. We fill in the gaps.

[The Village Idiot]

He was making $3100 a month in payments? He should be happy to get out of that, other loan places would break both your kneecaps for that.

Think of this... if you rent for $1550, you are saving THAT much too. That's another $1550 a month he can donate to Haiti relief or the Salvation Army.

[Specbid]

$3100.00 A MONTH!  Holy crap how much of a mortgage did this guy take out?

I'll bet he got one of those adjustable rate mortgages with little going to principle. Lot of house with smaller monthly. The rates adjusted up, payment balloons and your house isn't worth what you paid too much for. Toss in the kiss of death second and you're screwed.

Advice to all...f### 2nd mortgages. Don't do it.

[NHSparky]

I'll bet he got one of those adjustable rate mortgages with little going to principle. Lot of house with smaller monthly. The rates adjusted up, payment balloons and your house isn't worth what you paid too much for. Toss in the kiss of death second and you're screwed.

Advice to all...f### 2nd mortgages. Don't do it.

Actually, ARMs are adjusting DOWN right now.

[Specbid]

Actually, ARMs are adjusting DOWN right now.

Yes, but I'm talking about a few years ago. Don't those low principle loans go up significantly when principle payments start.
You start out with low payments and no principle. Put very little to nothing down, so you have no equity. You hope the market keeps going up so you refinance to a conventional loan. Market goes down, principle payments kick in...you're screwed.

Of course it could be I don't know what the hell I'm talking about. 

[AprilRazz]

The DUmmy can find a job. He would just have to go overseas.