Author Topic: Asshole DUmmy with horrible credit walks away from huge mortgage  (Read 7491 times)

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Offline BEG

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #25 on: September 06, 2011, 09:08:28 PM »
Quote
Shagbark Hickory (1000+ posts)           Tue Sep-06-11 07:43 PM
Response to Reply #7
36. I have a better idea.
   
Fannie & freddy to loan up to 150k (or so depending on location) at 0% for 15 years plus reasonable paperwork fee.
That way people actually have a chance of home ownership.

Offline BEG

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #26 on: September 06, 2011, 09:14:26 PM »
Quote
Shagbark Hickory (1000+ posts)           Tue Sep-06-11 08:02 PM
Response to Reply #38
56. ...
   
Best of luck to you. If I were you, I'd build a yurt somewhere.
You can charge it on your credit card before you file for bankruptcy.

Offline Freeper

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #27 on: September 06, 2011, 09:23:15 PM »

     Actually, I'm thinking this is a decent mole appearance. Notice how patient the OP is when challenged. Also the screen name.

Could be.
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Offline USA4ME

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #28 on: September 06, 2011, 09:26:50 PM »
Quote from:
phrigndumass
   
I understand why the second mortgage was advanced to me at a higher interest rate

I'm not seeing any evidence that you do understand why.  Seconds are always higher.  Do you know why, primitive?

.

Because third world peasant labor is a good thing.

Offline BannedFromDU

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #29 on: September 06, 2011, 09:28:02 PM »
I'm not seeing any evidence that you do understand why.  Seconds are always higher.  Do you know why, primitive?

.



Because they're unsecured, like his brain.
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Offline BEG

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #30 on: September 06, 2011, 09:35:00 PM »
Quote
taught_me_patience   (1000+ posts)             Tue Sep-06-11 08:23 PM
Response to Original message
65. It's people like you who are making refinancing for people like me impossible
   
I had to come up with over 100k for 20% down on my first home because 80/20 loans are abused like people like you. Now, its nearly impossible to refi because so many people like you are walking away. You gamed the system. If your house went up in value and you sold, you keep the equity, but when things go bad you walk scott free? You want me to feel sympathy? It makes me disgusted

Quote
phrigndumass   (1000+ posts)             Tue Sep-06-11 08:26 PM
Response to Reply #65
66. It is all about you, after all, isn't it?
   
Do you feel compassion for those on the other side of the coin?

I am likewise disgusted by your words.

Quote
taught_me_patience   (1000+ posts)             Tue Sep-06-11 08:31 PM
Response to Reply #66
69. I don't have compassion for those who complain
   
and claim they are "victims".



I don't get his response...

Quote
phrigndumass   (1000+ posts)             Tue Sep-06-11 08:33 PM
Response to Reply #69
71. Obviously. Nail in your own coffin.
   







Offline BEG

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #31 on: September 06, 2011, 09:44:24 PM »
Quote
Hassin Bin Sober   (1000+ posts)           Tue Sep-06-11 09:53 PM
Response to Original message
98. Sell the appliances for some seed money.
   
Edited on Tue Sep-06-11 10:09 PM by Hassin Bin Sober
the appliances are personal property.


eta: and stay in the house till the sheriff comes. Live rent free for a while.

Ok that is it, I feel all dirty from going over there. I don't see how those of you who have moles or go there on a regular basis can stand it. :puke:

Offline Chris_

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #32 on: September 06, 2011, 09:56:34 PM »
Quote
eta: and stay in the house till the sheriff comes.
Which is usually 30 days after an eviction notice is given.  Or as some of us call it, the White Trash Honeymoon.
If you want to worship an orange pile of garbage with a reckless disregard for everything, get on down to Arbys & try our loaded curly fries.

Offline shadeaux

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #34 on: September 06, 2011, 10:33:47 PM »
Frigging DUmb Ass.  What a fitting name.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x795098

http://www.giveforward.com/svensundberg

Of COURSE he's mentally ill. He's a DUmmy. Looks like he even invented a couple of new illnesses.
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Offline shadeaux

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #35 on: September 06, 2011, 10:45:56 PM »
 :rotf:


Offline shadeaux

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #36 on: September 06, 2011, 10:58:06 PM »
He intended to walk away 6 months ago.

Quote
I purchased a house in 2005 with no money down and two mortgages, one of them interest-only, because it was my dream home and the bank made it possible for me to do so. So I am upside-down on my mortgage(s), owing several thousand dollars more than what my house can be listed for. I will no longer have the funds or the energy to maintain the property, so I am forced to sell it right away. Realtor commission and closing costs will also add several thousand dollars to the closing … money I don’t have.



http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x687936

He knew exactly what was going on.

When we bought this last house, I swear we were investigated. I think the bank knew what size underwear I wore.

How anyone can say they were preyed upon is beyond me. A lawyer sits and goes over every detail for hours with you. If you don't understand, ASK.

If you know you cannot afford the house, DON'T BUY IT !!

Don't claim to be special ed once you get in trouble.  It's pathetic.
 

Offline seahorse513

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #37 on: September 06, 2011, 11:23:34 PM »
You are absolutely right, Shadeaux. I think most people think about just the "mortgage"

There is
property tax
trash removal
maintenance of house and appliances
Yard maintenance
and that is just for starters......
This stuff adds up, alot of people forget the "small stuff", I think this is when so many people get into financial trouble...
not too mention everyday expenses...
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Online DLR Pyro

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #38 on: September 07, 2011, 12:06:12 AM »


Lets see if I have this right. He signs a interest only mortgage and then complains that the payment is going to pay interest. DUH!!!



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phrigndumass 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    Tue Sep-06-11 07:31 PM
Response to Reply #1
4. The fact is I didn't understand what I was getting myself into

so since you were too stupid to understand what you were signing, but signed it anyways, it is the banks fault. There's a reason they are called DUmmies.
   
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ProudDad Donating Member (1000+ posts) Wed Mar-09-11 08:50 PM
64.I'd almost be willing to get a job in order to participate in
A NATIONAL GENERAL STRIKE
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Offline Aristotelian

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #39 on: September 07, 2011, 04:38:59 AM »
I've never seen a internet discussion forum with a higher proportion of people with a "serious" or otherwise "expensive"  medical conditions than what there is on the DU. This includes internet discussion forums entirely devoted to "serious medical conditions".

That's because medical conditions are political over there. The worse their health, and the worse their financial conditions (claimed to be) related to them the stronger they perceive the case for introducing a Canadian-style health system.

Offline whiffleball

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #40 on: September 07, 2011, 06:11:42 AM »
A DUmmie admits to being stupid.  I'll give him that much.

We saved to get our first home and turned any sale proceeds over into our next purchase.  On our 4th home we had 100k to put down. That won't happen with the house we have now because of this economy; nothing's moving here.

But, this DUmbass walks into a no-down mortgage with his eyes wide open and claims he's a victim of 'predatory' lending.  I'm willing to bet that he never read one document he signed, never investigated the true cost of owning a home and figured he could just walk away like he's doing now when he decided to stop paying.  He and the thousands of useless eaters like him are one of the reasons this country is in the shape it is.

Offline Tucker

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #41 on: September 07, 2011, 06:19:18 AM »
That's because medical conditions are political over there. The worse their health, and the worse their financial conditions (claimed to be) related to them the stronger they perceive the case for introducing a Canadian-style health system.

They share info on how to get on SS disability too. How to appeal and what to say during the interview.
Come to think of it, unions do create jobs. Companies have to hire two workers to do the work of one.

Offline AprilRazz

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #42 on: September 07, 2011, 06:20:44 AM »
When I closed on my house years ago the closing took forever. That is because I read every piece of paper they presented to me to sign. Even if it was a permission slip to go to the bathroom. I had to do a short sale due to military service but my credit is still OK as I did everything the responsible way.
We are pre approved through our credit union now but we decided to wait a little while to make sure that we don't get orders out of the area.
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Offline JohnnyReb

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #43 on: September 07, 2011, 06:34:44 AM »
Other people get free housing. Why shouldn't I? The world owes me one too.[DUmmie/mode]
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Offline SherryBaby

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #44 on: September 07, 2011, 09:11:55 AM »
You should.  Shit like what you pull, multiplied by a factor of, oh, a few MILLION, makes it more difficult for the rest of us who, while we do struggle, still manage to pay our bills.  Could I walk away from my obligations, file for bankruptcy, and stick someone with the bill (as my ex did to me?)  Sure, but ya see, I've got a little more pride in myself, and a little more respect for my fellow citizen.  

I don't expect you to do for me what I could and should do for myself.  Therein lies the difference between you and me, DUmmies.  I honor my obligations out of respect for myself and for those around me.  You do it begrudgingly, if at all.  Your board is replete with examples of how you'll almost eagerly **** over friends, coworkers, family, even your own children for what you want, what you think you're entitled to without having earned it.

One EARNS the privilege to own a home in much the same way one earns the privilege to drive.  Don't show the proper respect and maturity, you don't get to play, or you have to pay a lot more to level the playing field to cover for your ****-ups.  Interest only in 2005, and you didn't see the shit storm that was coming?  I know how it happened--because my ex did the same exact ****ing thing: bought too much house with a bullshit mortgage which only could have been covered had the housing market kept on with an unsustainable boom that by 2005-06 was already starting to fade.  You didn't have the FICO score to buy your home with a conventional loan, so you bullshitted your way (with your broker's help) into something rather than wait, because like petulant little children, it didn't matter that you couldn't manage to KEEP the house, all you saw was what you wanted RIGHT ****ING NOW.

So now you, like my ex, are either stuck waiting for a repo order or have walked away from a home you knew deep down you could never afford, and flooded a market which you never should have been involved with in the first place.  Your credit is shit, but worse than that, you've ****ed over everyone around you by screwing over housing values for people who HAVE played the game by the rules, only to find that the equity they had in their homes is now pretty well ****ed.  Home prices in places like Las Vegas won't return to 2005 price levels by 2030.  That's right, assholes--20 ****ing YEARS.  Even my area which has gone pretty much unscathed, relatively speaking, still has taken a hit.  My assessed value has dropped by 15 percent since I bought my house.  Even with everything I've put into it, I'd be lucky to break even.  Thankfully, I'm not considering moving or selling anytime soon.

Oh, and DUmmie?  I also did a 100 percent loan, but through my credit union.  No second, no PMI, 5 1/2 percent, no intention to refi as I wouldn't save enough and I really don't want to take on a 15-year loan at this point.  I've probably paid close to $60K interest in the last 5 years, but my principal has gone down about $20K.  Gee, maybe if ya'll hadn't done that interest-only scam....

H5!  I too did a 100% loan, but got a fixed rate, 4.75, on a nice little house that needed some fixing up...oh I could have gotten a McMansion, half-million dollar home, but I figured, I don't even make a quarter-million dollars, why would I spend that much?? 

Don't you think if this dumbass "didn't understand what he was getting into," he should have WALKED AWAY FROM THE DESK.  He should have not signed until he DID understand?  Freakin' idiots! 

He's a lineman AND a pacifist!  I create multidimensional works of art.

Offline ScubaGuy

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #45 on: September 07, 2011, 05:16:04 PM »
Just another case of DUmmies lie all the time and this one just wanted to justify being a deadbeat.

Rounding things out to about $1000/month mortgage assuming 6.5% 30 year mortgage on $160,000 come out to $1011/month P+I.

In the first month alone over $144 would be applied to principal.  At the end of 6 years about $12,700 has been paid against principle.
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Offline BannedFromDU

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #46 on: September 07, 2011, 05:19:00 PM »
Just another case of DUmmies lie all the time and this one just wanted to justify being a deadbeat.

Rounding things out to about $1000/month mortgage assuming 6.5% 30 year mortgage on $160,000 come out to $1011/month P+I.

In the first month alone over $144 would be applied to principal.  At the end of 6 years about $12,700 has been paid against principle.


But the stupid mentally ill DUmmy (I repeat myself) got an interest-only loan with zero down. That's the real issue.
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Offline Rugnuts

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #47 on: September 07, 2011, 05:19:11 PM »
WTF? that's how mortgages work, what did he think going in?
im pretty sure google works for the primitives too

no excuse for the ignorance

Offline shadeaux

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #48 on: September 07, 2011, 06:04:43 PM »
I messed up and posted on the wrong thread.    :-)

Anyway

Quote
Motown_Johnny  (1000+ posts)        Wed Sep-07-11 01:07 PM

Response to Original message

226. did you try to short sell it? It is easier on your credit
 


Quote
phrigndumass  (1000+ posts)        Wed Sep-07-11 01:16 PM

Response to Reply #226

232. Yes, I tried that ... 
 But there was a flood during the short sale process and it wiped out my furnace and water heater in the basement, not to mention the cost of drying out the support beams. The house was in the short sale process until I walked away from it, since nobody would want to buy a house with damage like that.

 

Quote
Motown_Johnny  (1000+ posts)        Wed Sep-07-11 01:20 PM

Response to Reply #232

235. argh, no flood insurance?
 


Quote
phrigndumass  (1000+ posts)        Wed Sep-07-11 01:40 PM

Response to Reply #235

245. Had to let the flood insurance lapse when I was on disability and 
 put the house on the market. I figured there hadn't ever been a flood there, and I couldn't afford it, so I let it go. Bad move on my part.
 

I'm sure the flood preyed upon him too.   :whatever:

Offline BEG

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Re: Asshole DUmmy with horrible credit walks away from huge mortgage
« Reply #49 on: September 07, 2011, 06:22:34 PM »
Typical lib, an excuse for everything...they are always the victim. DUmmies lie, they lie all the time.