The Peoples' Bailout Of The PEOPLE!

[USA4ME]

Christa
 
The Peoples' Bailout Of The PEOPLE!

(I am posting this for a new member who cannot yet start a new thread).

The Peoples' Bailout Plan Of The PEOPLE!

If you like this plan, PLEASE PASS IT ON in e-mails to your friends and families and in this and other Internet forums...

My plan is really quite simple...Since the government won't directly help the PEOPLE, it's time for the PEOPLE to take MATTERS INTO OUR OWN HANDS!

What I call for is EVERYONE who has a mortgage to take a 6 MONTH HIATUS FROM PAYING THEIR MORTGAGES! If the average mortgage is about $2,000 per month, this effectively puts about $12,000 back into the PEOPLES' HANDS to do with what they want and need. This will, in turn, STIMULATE THE ECONOMY which will help it get back to health again.

The banks will be FORCED TO NEGOTIATE WITH US IF THEY WANT TO STAY IN BUSINESS! They CANNOT and WILL NOT FORECLOSE ON ALL OF US AT THE SAME TIME! That would be IMPOSSIBLE for them to do! They will have several options that they could do that will help us and let the banks stay in business at the same time. These options include: 1) Extending the length of the mortgage terms, 2) Lower the INTEREST RATE on the mortgages and 3) Renegotiate the principal on the mortgages down to the houses' CURRENT MARKET VALUE!

I am calling for all of us to start doing this 6 month hiatus on January 1, 2009. We can do this! We can take the power back! We can help ourselves and help the economy at the SAME TIME!

Let's do this people! Get the word out and let's get the power back to where it belongs...WITH THE PEOPLE!

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4452549#4452725

And the owner if this foolishness posts:

Bytemeister (8 posts)     

6. They will negotiate BEFORE 3 months period is reached

The banks WILL negotiate when they start seeing millions of people ALL AT ONCE withholding their mortgage payments...But it has to be done EN MASS so no individual mortgage holders are "picked off" as the weak ones in the herd by the banks...I estimate that if 60% or so of all the people started withholding their mortgage payment En Mass, the banks would know that they would be in serious trouble and would be forced to the negotiating table BEFORE the traditional 3 month period was ever reached!

Bytemeister

4. The People's Bailout Plan Of The PEOPLE!

Gee...Imagine that...No evil banks to negotiate with and you would own your own home outright...What a horrible thought!!!

Actually, The banks would know that they were in trouble BEFORE anyone would ever withhold their first payment...after all...it will not be exactly a "State Secret" if we are planning to do this on the Internet!

If the banks know what's good for them, they will be forced to the negotiating table by the people if they want to stay in business!

As far as "agreeing to your mortgage in the first place," What about all those toxic mortgages that were written by financial institutions who can best be described as "PREDATORY LENDERS?" They knew EXACTLY what they were doing but their short term profit and success for their own companies best interest and bottom line was more important than the health of our nation's economy and the financial well-being of we, the people!

Christa started this thread for me because I am a new member and I couldn't start a new thread...Thank you Christa!

My name is "Bytemeister"...And I approved this message!  Hello to all of you!

bunnies

5. And to the people currently trying to buy a home...

a big "**** you" to them, right? Its bad enough that its impossible to get a mortgage as it is thanks to people not paying their loans. I guess by "people" you mean homeowners.   

Great. Thanks for the "bailout".

Bytemeister

Response to Reply #5

8. We are at WAR...In WAR the FEW have ALWAYS SACRIFICED FOR THE MANY...
 
Your stance is oh so wrong! Firstly, the number of people trying to get a mortgage now is an extremely small number in relation to those people who already own their own homes and can't make their payments! Your fear is very SHORTSIGHTED and is not looking at the long term or the big picture...It is merely looking at the wants and needs of a small few rather than the needs of the MANY and the overall health and success of our economy.

Those people who are trying to get a mortgage now in the first place need all the luck in the world on their side anyways...There is no guarantee that they will be successful  However, if the people STAND UNITED in this 6 month hiatus I put out as our own bailout option, the long term effect that it will have for the BENEFIT OF THE MANY will certainly outweigh the losses (iF there are any in the first place) of the few!

WE are at WAR, people! In War, the FEW are ALWAYS put in harms' way in order to PROTECT THE NEEDS OF THE MANY!!! We, the people have been placed in a position of weakness while we watch the politicians try to save the large corporations and try to sell us on a bill of goods that by doing so it will help the people. This is the same tired CRAP that we have always been served on a Silver Platter and made to think we are eating caviar at the GROWN-UPS TABLE!!! WRONG! WRONG!! WRONG!!! WE are the GROWN-UPS HERE...as long as we stand up as ONE LARGE, POWERFUL, UNWAVERING GROUP to fight for OUR OWN RIGHTS!

We, the people have become complacent and lazy...we expect everything to be done for us like we are little kids with mommy making our beds for us  That just doesn't work people! We CANNOT wait for government to fight this battle FOR us...We. as Obama rightfully says, must become PART OF THE SOLUTION!!! WE must start HELPING OURSELVES and not wait for someone else to PICK UP after us!!!

We can do this!!! We have the POWER!!! Let's not try to find EXCUSES NOT TO DO THIS...Let's find the STRENGTH and LOGIC to do this BY and FOR OURSELVES...In the LONG-RUN we, the people and the country and our economy will be much better off for our sacrifices in this battle and war we fight today!!!

bunnies

Response to Reply #8

9. First of all... I question your sanity.

And second of all... nice to know you dont give a shit about my situation. I'll just be one of the "few" you shit on to get ahead. Good luck with that.

Bytemeister

Response to Reply #9

10. You will be better in the long run
 
I am sorry that you are too SHORTSIGHTED and SELFISH to see that your wants and needs should outweigh the BENEFITS of the PEOPLE as a WHOLE...Unfortunately, that is so typical of many of us Americans...it's the same old ME, ME, ME of the 1980's!!! It didn't work then and your selfishness will not benefit the people as a whole now either!!!

Look, if you are credit-worthy, you will STILL get your mortgage now even when the people implement my plan. You will benefit from the on-going fight...banks want and NEED to make loans...We will make it easier for you to get one that you will be able to pay...even if you are too selfish to understand that right now...You WILL BENEFIT in the long run.

Stop your WHINING and think of the bigger picture for ALL OF US! I'll draw you an analogy of what you are saying sounds like...I apologize in advance if you indeed voted for Obama...but you sound like a Republican who voted for McThuselah and said the better man lost...Well, like Obama said during his acceptance speech..."I may not have won your vote today, but I will be YOUR PRESIDENT TOO!" Even if you don't partake in this 6 month hiatus, WE the people will be fighting this battle FOR YOU TOO!!!...even if you don't think we are doing that now...We will be fighting to make it BETTER FOR YOU TOO in the long run and maybe in the short term too!!!

Ah, the intelligentsia who know more and understand things in ways the rest of us just cant. 

 

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[Chris]

$12,000 will buy you a nice used car to live in after the bank takes your home. 

[Ralph Wiggum]

Worst.  Idea.  Ever.

[md11hydmec]

At least we'd be able to find the DUmmies then.  Yeah, all them brains and that was what they come up with.  Although, think about all the rental homes we could get and rent back to them for more than what their mortgages are.

[Carl]

Once again the elementary school mentality at the DUmp moves to the forefront.

[Splashdown]

How is that idea not theft?

[Rebel]

....and these people vote...
 

[Wineslob]

The idiot DUmmie must have just graduated with a Liberal Arts degree.

[Ralph Wiggum]

If the average mortgage is about $2,000 per month

USA4ME can certainly answer this better than I can, but the average mortgage isn't anywhere near 2K per month is it?

I bought my first house about 10 years ago, and the total mortgage was around $250K.  Even after factoring in PMI, hell even real estate taxes, our monthly payments were far less than $2000.

[USA4ME]

USA4ME can certainly answer this better than I can, but the average mortgage isn't anywhere near 2K per month is it?

I bought my first house about 10 years ago, and the total mortgage was around $250K.  Even after factoring in PMI, hell even real estate taxes, our monthly payments were far less than $2000.

If you're talking strickly principal and interest payments for a 30 year mortgage, $250K at 6% would be $1,498.88, at 7% would be $1,663.26, and at 8% would be $1,834.31.  I'd guess that nationwide average price of a home is around $200K, so the $2,000 figure would be high, IMO.

But the whole premise that a group of idiots would be willing to do this is more than stupid.  Even the thread at the DUmp is sliding off the page with no recommendations.

.

[JohnnyReb]

Check my logic for me. If you're living in a house and have a motgage, making payments on a loan, you're not a "home-owner" yet. You might wish to be, you're trying to be and even hope to be someday.....but not quite yet....Right?

The DUmmie attitude seems to be, if you owe for it, it's yours, period. Maybe I've been wrong all my life but when I owed for something I told folks, "It's mine and the bank's." ...and I thought and treated whatever it was accordingly until it was totally mine.

Am I screwed up or what?

[Ralph Wiggum]

Check my logic for me. If you're living in a house and have a motgage, making payments on a loan, you're not a "home-owner" yet. You might wish to be, you're trying to be and even hope to be someday.....but not quite yet....Right?

The DUmmie attitude seems to be, if you owe for it, it's yours, period. Maybe I've been wrong all my life but when I owed for something I told folks, "It's mine and the bank's." ...and I thought and treated whatever it was accordingly until it was totally mine.

Am I screwed up or what?

I understand your point about the DUmmies, but if you have equity in a home, no matter how little, you are a homeowner.

[USA4ME]

Check my logic for me. If you're living in a house and have a motgage, making payments on a loan, you're not a "home-owner" yet. You might wish to be, you're trying to be and even hope to be someday.....but not quite yet....Right?

The DUmmie attitude seems to be, if you owe for it, it's yours, period. Maybe I've been wrong all my life but when I owed for something I told folks, "It's mine and the bank's." ...and I thought and treated whatever it was accordingly until it was totally mine.

Am I screwed up or what?

Technically, you are the owner and the bank has a lein on your property.

Think of it this way; if the HVAC breaks down or the roof need work, you don't call the bank and say "Hey, our air unit and roof need some work.  How about you pitch in some money to fix our house?"  Well, I guess one could try, though success wouldn't be likely.

.

[Wineslob]

I can see where the total cost of a mortgage would be 2k or more. Mines about $1100 for a 150k 5.8% 30 year fixed...............but that includes insurance and taxes.

[Ralph Wiggum]

I can see where the total cost of a mortgage would be 2k or more. Mines about $1100 for a 150k 5.8% 30 year fixed...............but that includes insurance and taxes.

That sounds about right.  And closer to the average than 2K per month.

[djones520]

Oh I'd love to see the DUmmies do this...

[Vagabond]

I'm not going to belabor the point (again), but these DUmmies don't know what happens if capital freezes. Capital Finance is the blood of the current ecnomic system.  Anyone care to guess what happens when you lose enough blood supply?

[NHSparky]

USA4ME can certainly answer this better than I can, but the average mortgage isn't anywhere near 2K per month is it?

I bought my first house about 10 years ago, and the total mortgage was around $250K.  Even after factoring in PMI, hell even real estate taxes, our monthly payments were far less than $2000.

Mortgage, insurance, AND taxes (and NH has some of the highest in the country) doesn't hit 2K a month for me.  And my mortgage is only slightly higher than yours.

[DumbAss Tanker]

Mine's under a grand.  Taxes are low on a farm, but insurance is very high; a 20-year note I've paid ahead aggressively for the past six years, and I had to put up 20% at the front end since farm and land mortgages don't go into the secondary market, and therefore can't get VA or other no-downpayment financing (Great benefit, VA, thanks for frickin' nothing).

[Vagabond]

Mortgage, insurance, AND taxes (and NH has some of the highest in the country) doesn't hit 2K a month for me.  And my mortgage is only slightly higher than yours.

A $2K a month note wouldn't be odd around here.  That would be a $300,000 house.  Very, very common here in Charles county, MD.  Somewhat less recently, of course, but there are still a lot of people toting those notes.