Author Topic: 2000 writing primitive believes Dear Leader will save her money  (Read 1152 times)

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Offline USA4ME

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Quote from:
wryter2000   
 
Did anyone hear about a mortgage cap for underwater mortgages?

I heard on Stephanie Miller (Hal Sparks and John Fugelsang) and then on the CNN radio news during the show that there could be a temporary cap on mortgages for people who are underwater.

Basically, underwater mortgages would be temporarily capped at 31.5% of gross income. Does anyone know about that? Is it in a bill that's in Congress now, or is it only something that's being proposed?

I figure that could save me $11,000 per year.   :bouncy:   I hope I didn't hallucinate it.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8024482

The green bouncy will automatically make the whole thing different than what' she's expecting.   :-)

As we all are aware, primitives can be extra stupid beyond their normal stupid, and this is one of those times.  Let's say what she wrote is true.  A mortgage is a contract, and unless we've completely gone total totalitarian dictatorship, you can't break a contract.  Maybe Dear Leader does "temporarily cap (mortgages) at 31.5% of gross income," that doesn't mean they'll save any money.  If their payment was $1000/mo and is adjusted down to $700/mo, the mortgage lender is going to take the extra $300 they were owed and add it back to the principal balance.  There's no savings, it'll just be deferred.

Try to explain that to the primitives..... WHOOOOSH!!!!........ right over their little heads.

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Offline crockspot

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #1 on: March 26, 2010, 02:11:01 PM »
I specifically heard the word "forbearance" mentioned on the news. This means what they don't pay now will get folded into the principal of the loan, and be made up later on. Bounce, DUmmy, bounce!!!!

Offline Texacon

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #2 on: March 26, 2010, 02:16:23 PM »
The DUmmie is partially right.  O'bama wants to either defer or lower the payments on people who are unemployed but it is only for a few months.

DUmmie isn't paying attention and O'bama is, yet again, stepping over a line he should not be allowed to step over!

KC
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Offline Karin

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #3 on: March 26, 2010, 03:35:59 PM »
Quote
stray cat (1000+ posts)     Fri Mar-26-10 12:14 PM
Response to Original message
3. to bad they don't do the same for renters

Not only that, but be sure to check your mailboxes. 

Quote
JuniperLea  (1000+ posts)        Fri Mar-26-10 12:21 PM
Response to Reply #3
9. If the landlord's mortgage goes down...
 And/or home prices go to their natural level because of this readjustment, renters will get their chunk. Landlords will be competing with like-properties that have lower rents. Like everything else, this isn't instant... you can't just add hot water and shake. The seeds have been planted, the pot fertilized and watered... spring is upon us... patience is a virtue.
 

Seriously delusional.

Quote
taught_me_patience  (1000+ posts)        Fri Mar-26-10 12:45 PM
Response to Reply #9
15. You don't understand economics
 Rents are determined by supply and demand of renters and houshold income and NOT owner cost. This will do nothing for rents.
Quote

 JuniperLea  (1000+ posts)        Fri Mar-26-10 12:59 PM
Response to Reply #15
16. Please go back and read again...
 There is a way to work around that... and it needs to start now.
So typical, and so stupid. 

Then, there's this:
Quote
NNN0LHI  (1000+ posts)      Fri Mar-26-10 12:13 PM
Response to Original message
2. I am starting to think anything is possible under President Obama and our Democratic Congress
 I am serious.

Don

God help us.  Please November get here, hurry. 

Offline BEG

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #4 on: March 26, 2010, 03:43:12 PM »
These people are seriously like elementary school kids...."BUT Mom, what do you mean we don't have the money for that toy, you still have checks in your check book don't you?".

Offline The Village Idiot

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #5 on: March 26, 2010, 03:45:19 PM »
  Let's say what she wrote is true.  A mortgage is a contract, and unless we've completely gone total totalitarian dictatorship, you can't break a contract. 

They already gave judges the power to reduce the PRINCIPLE of mortgages in past laws "that saved housing" I think.

Offline thundley4

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #6 on: March 26, 2010, 03:48:47 PM »
They already gave judges the power to reduce the PRINCIPLE of mortgages in past laws "that saved housing" I think.

0bamaland, all contracts null and void at the whims of Der Fuhrer.

Offline JohnnyReb

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #7 on: March 26, 2010, 03:53:54 PM »
....but they can't cancel ACORN's contract....  :fuelfire:

There should be a "piss on Obama" smilie?
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Offline USA4ME

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #8 on: March 26, 2010, 04:01:00 PM »
They already gave judges the power to reduce the PRINCIPLE of mortgages in past laws "that saved housing" I think.

There would have to be some type of compensation to the lender.  Lending institutions cannot reasonably lend money under the cloud of it being reduced by some outside force.  Contract law flies out the window if that were the case, faith in the system would collaspe.

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Because third world peasant labor is a good thing.


Offline thundley4

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #9 on: March 26, 2010, 04:06:36 PM »
There would have to be some type of compensation to the lender.  Lending institutions cannot reasonably lend money under the cloud of it being reduced by some outside force.  Contract law flies out the window if that were the case, faith in the system would collaspe.

.

Tell that to the security holders that had their loans to GM nullified.

Offline The Village Idiot

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #10 on: March 26, 2010, 04:26:11 PM »
There would have to be some type of compensation to the lender.  Lending institutions cannot reasonably lend money under the cloud of it being reduced by some outside force.  Contract law flies out the window if that were the case, faith in the system would collaspe.

Lord Zero does not care about contracts

Offline Carl

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #11 on: March 26, 2010, 05:51:22 PM »
If this gets rolled back into the principle then it will mean the amount that interest is being paid on is larger longer resulting in more being paid overall.

Offline BEG

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #12 on: March 26, 2010, 06:02:22 PM »
If this gets rolled back into the principle then it will mean the amount that interest is being paid on is larger longer resulting in more being paid overall.


It would if they ever planned to pay off their home, they think at some point Obama will just give it to them.

Offline Texacon

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #13 on: March 26, 2010, 06:10:45 PM »
Quote
JuniperLea  (1000+ posts)        Fri Mar-26-10 12:21 PM
Response to Reply #3
9. If the landlord's mortgage goes down...
 And/or home prices go to their natural level because of this readjustment, renters will get their chunk. Landlords will be competing with like-properties that have lower rents. Like everything else, this isn't instant... you can't just add hot water and shake. The seeds have been planted, the pot fertilized and watered... spring is upon us... patience is a virtue.

Oh my GOD these people are complete idiots.  Hey, DUmbass!  Listen up.  None of this stuff .... I mean NONE of this stuff would/does/will apply to 2nd homes, investment properties or vacation homes.  You will NOT see this trickle down and it is only for unemployed homeowners and ONLY for a few months.  What is deferred MUST be repaid.

Jesus Christ.  They want EVERY thing to be FREE to them.  Dammit they piss me off with their idiocy.

KC
  Build a man a fire and he'll be warm for a day.  Set a man on fire and he will be warm for the rest of his life.

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Offline Tucker

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #14 on: March 26, 2010, 07:07:46 PM »
Quote
I figure that could save me $11,000 per year.

I'd like to know how she could realize that kind of savings.
Come to think of it, unions do create jobs. Companies have to hire two workers to do the work of one.

Offline JLO

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #15 on: March 26, 2010, 07:13:22 PM »
These people are seriously like elementary school kids...."BUT Mom, what do you mean we don't have the money for that toy, you still have checks in your check book don't you?".

No kidding  :cheersmate:
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Offline USA4ME

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #16 on: March 26, 2010, 10:19:10 PM »
Lord Zero does not care about contracts

I know that, but it doesn't change the fact that doing so will send ripples of non-trust through the sysytem, which is my main point.

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Because third world peasant labor is a good thing.


Offline thundley4

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #17 on: March 26, 2010, 10:22:22 PM »
I know that, but it doesn't change the fact that doing so will send ripples of non-trust through the sysytem, which is my main point.

.

And those ripples of non trust lead to a hastening collapse of said system.  I'm starting to see a pattern to Lord Zero's actions.

Offline Chris

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #18 on: March 26, 2010, 10:26:00 PM »
The DUmmie is partially right.  O'bama wants to either defer or lower the payments on people who are unemployed but it is only for a few months.

DUmmie isn't paying attention and O'bama is, yet again, stepping over a line he should not be allowed to step over!

KC

It's a 60-day deferment.  Two months -- that's all.  You almost want to ask them "why bother"? 
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Offline GOBUCKS

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #19 on: March 26, 2010, 10:36:20 PM »
It's a 60-day deferment.  Two months -- that's all.  You almost want to ask them "why bother"? 

It may only be 60 days, but it's the camel's nose under the tent. Once they allow people to stiff their mortgage holder for two months, what's next? Why, certainly, what comes next is a two- or three-month extension, just like the current move toward lifetime unemployment benefits. And after these poor, innocent victims of Bushco are spared foreclosure for six months, or twelve months, what kind of heartless monster would oppose yet another extension? Who wants to get the Jim Bunning treatment? Mortgages will become as desireable an investment as General Motors bonds, but only the rich will be able to afford mortgages in the future, so who cares? After all, single-family homes brutalize Mother Gaia as badly as internal combustion engines.

Offline Chris

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #20 on: March 26, 2010, 10:37:55 PM »
I forgot the clowns were in charge of the circus. 
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Offline NHSparky

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Re: 2000 writing primitive believes Dear Leader will save her money
« Reply #21 on: March 26, 2010, 11:05:18 PM »
I love it--they can't be bothered to try to work out a resolution with their lender, so they'll let the government get their fingers into the muck and REALLY screw it up for them.
“Any man who thinks he can be happy and prosperous by letting the government take care of him better take a closer look at the American Indian.”  -Henry Ford