Fannie, Freddie may refinance at 125% (to save peoples homes)

Random Ramblings
21

Bama,

You do make some good points although W. was the Governer of Texas and he did not screw it up, although he had run every other business into the ground prior to the Texas Rangers.

Hoosier,

You are more than welcome to complain about governement spending, but don’t say “My Tax Dollars” because as of yet they are not your tax dollars.

Once again I have to bring up the War in Iraq. You have both said you are against the govt. helping hard working americans stay in their homes, but you are for rebuilding the country of Iraq? It has been made very clear in this forum that most if not all of the posters were in favor of letting the financial system collapse, letting the big three automakers go into Bk, letting AIG take down most of the free world, but NO ONE other than myself and a few others has said a word about the Trillions of Dollars spent on the war in Iraq. Why are you not outraged by that wasteful spending? Why are you not out protesting the war in Iraq?

22

Christopher…

“You are more than welcome to complain about governement (sic) spending, but don’t say “My Tax Dollars” because as of yet they are not your tax dollars.”

Hoosier should ABSOLUTELY complain about the money he is being indebted to… I don’t get the logic… be quiet while I put you into debt, you can complain when you start paying taxes AFTER we’ve already spent your money and indebted you??? How are they NOT his tax dollars being spent? Where do you think the phrase “mortgaging our children’s future” comes from??? They should have no say in how THEIR FUTURE EARNINGS are being misspent??? Sorry, I just don’t get the logic…

More power to you Hoosier! Don’t let anyone tell you to be quiet… your rights are not conferred to you once you start paying taxes… they are inalienable rights!

BTW, a little teasing, Christopher… you spelled government wrong when responding to Hoosier of all people… :biggrin

“Once again I have to bring up the War in Iraq. You have both said you are against the govt. helping hard working americans stay in their homes, but you are for rebuilding the country of Iraq? It has been made very clear in this forum that most if not all of the posters were in favor of letting the financial system collapse, letting the big three automakers go into Bk, letting AIG take down most of the free world, but NO ONE other than myself and a few others has said a word about the Trillions of Dollars spent on the war in Iraq. Why are you not outraged by that wasteful spending? Why are you not out protesting the war in Iraq?”

And here I would have to ask… then why aren’t you completely LIVID that Obama has spend MORE than all other presidents COMBINED, which INCLUDE the Iraq/Afghanistan wars??? At least those were in defense of our country… which IS the governments role… Not to be banker to every failing business/industry…

As we are seeing, there is a finite amount of money the government can borrow…

With regards to people and their homes… from what I have read, the majority of people who had their loans modified, fell behind again, so I don’t see how raising the threshold to 125% for something they can’t afford anyway is going to help… it may help those in the banking industry collect ALOT of fees for refinancing, which I don’t begrudge them… they have to make a living, but this seems to be reminiscent of what starting this is in the first place… people being in homes they can’t afford…

23

Christopher,
As usual,I never said I supported the rebuild in iraq.The "outrage"is directed at any wasteful spending,I think this falls under that label.If democrates would actually listen to people instead of each other,maybe just maybe you’d see that we have more to be outraged in common than not.
Can we please stop finger pointing,and actually have credible people with REAL solutions instead of teleprompted BS speeches.He is doing alot that bush done,and we seen it did’nt fix anything.

24

Positive,

Please read my post again. I said You are more than welcome to complain about governement (sic) spending, but don’t say “My Tax Dollars” because as of yet they are not your tax dollars. If he has not paid any taxes then he cannot say “My Tax Dollars”. However as usual you are content to split hairs. He can complain all he wants about government spending that is his inalienable right, but he CAN’T complain about how HIS tax dollars are spend when he has not paid one dime of taxes in his life.

Once again you bring up that BS about the War in Iraq being about defending this country. We have gone round and round about this. It has been proven that the evidence was faulty. President Bush even stated that he wished the evidence would have been better so please give up the “defending our country” rhetoric. As for the spending and the bailouts I once again ask you “What was your solution?”. I have asked you this question multiple times and all you can say is “Let them all fail”. That is not a solution that is a cop out. When your small business went down the tubes and your credit lines were slashed because the financial system was gone then you would have been whining about the government not doing enough to help the little guy. You seem to have general answers for everything, but nothing “concrete” as you like to say. So please give me an answer that is better than “let them all fail”.

As for the 125% refinance… it is not a “modification” people actually have to QUALIFY for the loan. Full documentation. It was put in place to help people keep their homes. You know for someone who has been helped by the system you sure are callous towards other people needing to be helped by the same system.

25

Bama,

Can we please stop finger pointing,and actually have credible people with REAL solutions instead of teleprompted BS speeches.He is doing alot that bush done,and we seen it did’nt fix anything.

All I see in this forum is finger pointing. Liberals this, and democrats that. You are correct it absolutely goes nowhere, but that does not seem to stop it from happening.

26

Chris,

NO! I am not for rebuilding Iraq. I am a true conservative, who believes in a non-intervention foreign policy (Neither Mccain, Obama, Bush, Hilldog believe in it, if they did, we wouldnt have troops in like 100 counties in the world.)

Im a Ron Paul supporter. I do not support being the world police, Chris.

I dont believe in rebuilding Iraq (or any other country). I dont believe our government should give away money for anything (like earthquake disasterhelp, they dont have thr right to take our money and do that.)

I dont believe is saving any of the Big 3 automakers, I dont believe in saving fannie, freddie, or aig, or citi, or anybody. Let them fail. I wil gladly live with the consequences of them failing over living in socialism and gov spending that will cripple me and my children and my grandchildrens future with unpayable debt.

Outragious spending is coming from both sides, Reps and Dems, but the Dems just seem to be on steriods when it comes to it.

27

“Please read my post again. I said You are more than welcome to complain about governement (sic) spending, but don’t say “My Tax Dollars” because as of yet they are not your tax dollars.”

He is a citizen of the country… they ARE his tax dollars… interesting how you define this…

“If he has not paid any taxes then he cannot say “My Tax Dollars”.”

They are not spending the tax dollars you and I have paid today, they are spending the tax dollars that will be paid in the future… the one’s Hoosier will be paying forthright… so he should have a voice in how his money is being spent…

“but he CAN’T complain about how HIS tax dollars are spend when he has not paid one dime of taxes in his life.”

And where do you think the money is going to come from??? From HIS tax dollars… the one splitting hairs is you Christopher…


“Once again you bring up that BS about the War in Iraq being about defending this country.”

What are you saying, they are NOT defending our country??? Ludicrous…

"We have gone round and round about this. It has been proven that the evidence was faulty. President Bush even stated that he wished the evidence would have been better so please give up the “defending our country” rhetoric. "

I’m sorry, did you see us fighting any Al Quaeda here in the US??? No, because they were defending us OVERSEAS… So spare me the “they were not defending us” rhetoric…

"As for the spending and the bailouts I once again ask you “What was your solution?”. I have asked you this question multiple times and all you can say is “Let them all fail”."

That is EXACTLY what SHOULD have happened… We wasted BILLIONS of dollars on auto-company bailouts BECAUSE we were told we couldn’t let them go bankrupt… they did ANYWAY… only we were out BILLIONS…

The governments role is NOT to save business… If that’s the case, what about the small employers who employ 70% of the workforce???
[i][b]

“That is not a solution that is a cop out.”[/b][/i]

No, the “cop out” is relying on government to bail you out when you SHOULD go out of business…

“When your small business went down the tubes and your credit lines were slashed because the financial system was gone then you would have been whining about the government not doing enough to help the little guy.”

No, you are wrong…


“You seem to have general answers for everything, but nothing “concrete” as you like to say.”

I don’t have answers for everything… I have my opinions and you have yours… yours just relies more on the government for answers… THAT is the true cop out…

“So please give me an answer that is better than “let them all fail”.”

That IS the answer… their are MANY industries that “cannot afford to fail”, but the government CANNOT help them all… When individual companies going out of business markets are created…

“As for the 125% refinance… it is not a “modification” people actually have to QUALIFY for the loan. Full documentation. It was put in place to help people keep their homes.”

If they can afford it, great! But it sounds an awful lot like we’ve seen this movie before…

“You know for someone who has been helped by the system you sure are callous towards other people needing to be helped by the same system.”

Help by the system???

28

Hoosier,

Be careful what you say. Otherwise you will have Mr. Positive Outlook (total oxymoron by the way) lecturing you about how it is the governments job to protect this country by invading other countries with or without REAL evidence.

My point was if you are so outspoken about the ridiculous spending going on why are you not outspoken about the trillions being wasted in Iraq. If I were you I would be doing everything I could to get us out of Iraq because heaven forbid we have another terrorist attack in this country; you can bet your Hoosier Basketball lovin’ butt that you will be drafted. You did go register for the draft on your 18th B-day didn’t you?

29

I’ve blammed republicans the same for alot of this.Let’s not forget when all this began in early 06 when the dems controled the house,so to totally fault bush for the storm is incorrect.They both suck right now and this passing of critical bills without reading them should outrage us all,dems,repubs,inds,etc.You are paying them to do nothing but go with whatever the majority tells them.We all should be at every tea party for this alone!!

30

Positive,

How are the troops in Iraq defending this country?? They are rebuilding a country that we destroyed over faulty evidence and a personal vendetta. While I agree that they are doing a good thing now…it sure would be nice if we would have never been there in the first place. When I think about the cost in human lives alone it is staggering. It is ludicrous thinking by people like yourself that probably never served a day in their life that is ridiculous. Tell me this Positive if you believe so strongly that our presence in Iraq is defending this country will you advise your children to join the military to go to Iraq and defend? As a veteran I can tell you I would advise my children against it.

31

If that’s the case, what about the small employers who employ 70% of the workforce???

Who do you think they were trying to protect by saving the financial system? The few thousand people that work on Wall Street? Wake up man! They were trying to protect the small business owners and people like you and I. I’m sorry but I just don’t think you are intelligent enough to be making statements like the ones you are making. There are people a heck of a lot smarter than both of us that said “a bail-out is needed” but you seem to think that you are smarted than everyone and that by doing nothing it would have solved the problem.

Lets just say the government stayed out of it and let the financial system collapse. What were you going to do when your ATM/Debit card stopped working? What about when your local bank shut down any credit lines you may have because they can’t borrow from the Fed or other banks? Better yet, if you have renters in any rental homes you may own what are you going to do when they can’t pay their rent.

People like you sit at home angry because they feel like everyone is getting bailed out but them, but in reality it does trickle down to you because your life keeps functioning like normal instead of coming to a screeching halt. I am not happy about the spending either, but can you imagine what it would take to get the system started again once we let it fail. We are talking about the largest banks in the country possibly failing NOT just mom and pop banks in small towns. Followed by Wall Street. You think that the amount of wealth lost over the last two years is staggering…it could have been so much worse.

32

“lecturing you about how it is the governments job to protect this country by invading other countries with or without REAL evidence.”

Lecturing??? Giving my opinion… How you take it is all up to you, Christopher…

Again, have we been fighting Al Qaeda here or in Iaq and Afghanistan??? If you are against the Iraq war, then I assume you are against the Afghanistan war also, yes? We invaded that country also…

Whle I don’t agree with every decision made, IMHO, they made the decisions they did based on the info they had at the time… If there was any real proof of otherwise, the Dem’s would have been ALL OVER bush trying to impeach him… to me, that speaks volumes on the “proof”…

The evidence may have been “faulty”, but it wasn’t made up… if it was the Dem’s HAD AN OBLIGATION to impeach Bush… but they KNOW it was not made up… so they just sling the mud…

“…it sure would be nice if we would have never been there in the first place.”

Tell that to the Iraqi people who are now choosing their own leaders and not living under a brutal dictator… the argument can be made for every war we’ve ever been in…

“When I think about the cost in human lives alone it is staggering.”

War sucks, no matter what… but considering we have been at war this long, the casualty rate is very low… but still is awful no matter how you look at it…

“It is ludicrous thinking by people like yourself that probably never served a day in their life that is ridiculous.”

Actually, at age 18, I tried to enlist into the service, as did my brothers… in my case, my eyesight, spine and feet held me back… My Father served, cousins have served, brother in-law is currently serving over there… that being said, I support their efforts… EVERY person who serves their country in that capacity should be respected… They lay more on the line than any of us…

Soldiers don’t have a choice in the mission… They just do the mission… they had alot of guys re-upping, so they must believe in what they are doing over there…

“Tell me this Positive if you believe so strongly that our presence in Iraq is defending this country will you advise your children to join the military to go to Iraq and defend? As a veteran I can tell you I would advise my children against it.”

First off, with you being a veteran… thanks! What war did you participate in? In any case, my kids are not near that age, but even if they were, that is not for me to decide, it is their life… They would have make that personal decision for themselves… as a parent, I wouldn’t want ANY of my kids to go to war… but those who do, deserve our respect…

33

Christopher,

“How are the troops in Iraq defending this country??”

Are you kidding me??? We haven’t been attacked SINCE 9/11 and wars in Iraq and Afghanistan ARE THE REASON we have not… what is your definition of “defending our country”… mine is keeping us from being attacked… which they have been SUCCESSFUL at…

“They are rebuilding a country that we destroyed over faulty evidence and a personal vendetta.”

That is such an oversimplification of it, you being a veteran, I would think you would know better…

When we helped Japan rebuild, I guess that was different somehow… :rolleyes

34

yours just relies more on the government for answers… THAT is the true cop out…

I don’t rely on the governement for anything other than to keep me safe. I go to work everyday to put food on the table for my family and to pay my bills. I don’t complain about my taxes, and I don’t complain about other people needing a helping hand. Tell me this what about government grants for research and small business. Are those hand-outs? What about LOSERS that file BK because they are to freakin lazy to own up to their obligations. What do you say to those people? What about Pell Grants for low income families to send their kids to college. Or government backed student loans? Are those hand-outs that the government should do away with as well?

When it comes to the country going down the tubes HELL YES I am looking to the government to try and solve the problem. Your solution of “businesses failing creates markets” sounds great on paper, but try going down to the local unemployment office and talking to some of those people and ask them how they feel about their company closing down, and their retirement put off, and their kids having to put off college.

35

The only way we should enter war is if something is a direct threat to the US. In Iraq and Afganistan it seems as through were policing and occupying the area, instead of having a specific goal, and accompishing it, and then getting out. Im pretty sure your with me on this Chris.

The reason im not outspoken about the Iraq war is because we never discuss it on this board, we only discuss the banks.

Trust me, im furious on the
nearly 1 billion dollar building (they have a name for it, escaping my mind right now) they built in Iraq. We clearly have no plan leaving Iraq, and if we did, we would never of built a building that costs that much.

As for the draft, yes I did register. :slight_smile: . I dont believe a draft is coming however, because it would be political suicide for the party who started up the draft. JMHO.

36

So us being in Iraq and Afghanistan has stopped us from being attacked again. Please explain that logic to me. Are you saying that terrorsts are afraid to attack now that we have shown are willingness to invade. Al Qaeda is working harder than ever to atack this country and I would say that it is our intelligence networks more than anything that have stopped us from being attacked. Not our ground troops in Fallujah.

Nice try with the Japan reference, but not even in the same realm so I am not even going to waste my time on that ridiculous question. I suppose next you are going to compare the rebuilding in Iraq to the Marshall Plan.

Again, have we been fighting Al Qaeda here or in Iaq and Afghanistan???

Another ridiculous comment… Um I don’t think there was ever a time when we feared an INVASION from Al Qaeda.

Tell that to the Iraqi people who are now choosing their own leaders and not living under a brutal dictator…

wait a minute I thought we were there to defend this country NOT to make life easier for the Iraqi people. There are brutal despots all over africa. Should we expect that after Iraq is done we will be focusing on Africa? So you believe we should be the worlds police force and our mission should be to get rid of brutal dictators?

What war did you participate in?

I was in South Korea which technically was not a war, but staring at the DMZ at North Koreans sure made me miss Ohio.

they had alot of guys re-upping, so they must believe in what they are doing over there…

Um… try the economy sucks and they had no job prospects coupled with the HUGE retention bonuses they were offered. I have many friends still in the military and I can tell you very clearly that moral over there is LOW. I have lost two close friends over the years and I can tell you it is absolutely horrible to visit someone’s parents after losing thier son.

However this topic has been debated in other threads and I would rather not get back into that here. So I digress to my original point which is this war is just as expensive as many of the Obama programs but I never see that mentioned.

37

Also, im sick and tired of hearing about how Conservatives offer no solutions to solve problems. How about this…

With the border/illegal immigration.

Put a fence up, anybody trying to cross it, gets shot. If you want in, come in legally. The drug cartels and flood of immigrants must stop. Business owners that are caught hiring illegal immigrants face a $100,000 fee per immigrant. Illegals that are here already, no amnesty, send them back. Dont put them in jail or anything, just send them back.

Drugs war,
end the drug war, waste of money. Isnt working. If I want to smoke weed or shoot up heroine, its my choice, and you cant/wont stop it.

Entitlements, slowly start to phase out all entilements, welfare, medicade, medicare, social security, blah blah blah, SLOWLY phase it out, this is America, not France.

Taxes, due to all the entitelement cuts, our gov suddenly only needs money for protecting us and such. Abolish the IRS/Department of Education/Dep of Agriculture, everything. Its all wasteful spending. Gt rid of the income tax completley. Imput a high sales tax on everything, that way EVEYBODY pays, not only the rich. The SALES tax will fund everything.

Foreign Policy. All troops need to come back to US. The 25,000 troops in Korea need to come back. Either we need to go to war with Kim Jong Ill because we feel hes a IMMEDIATE threate to us, or we need to get out. We cant afford being the world police.

Businesses and Banks.

Get rid of the government enforcing loans to people who cant afford them. Community Reinvestment Act anybody? Give me a break. Alo, we END all bailouts and handouts to banks. I dont want government picking winners and losers in the market.

Marriage, who cares? Gov shouldnt be involved with personal choice issues like this anyway, give me a GOD (*^(^ breake. Not even worth discussing.

The Constitution needs to be reinstated as the supreme law of the land. Anybody who tries to change of go around what the Constitution says in a Tyrant.

Hows that for solving things? Sorry for ranting, and even though nobody asked alot of this stuff, since were talking about wasteful governemnt spending I thot it would be a good time to share my view on a variety of things.

One more thing… Audit the FED! :slight_smile:

38

“I don’t rely on the governement for anything other than to keep me safe. I go to work everyday to put food on the table for my family and to pay my bills.”

No, you just want other people to go hat in hand to the government…

“I don’t complain about my taxes, and I don’t complain about other people needing a helping hand.”

I’m curious as to what point you WOULD complain about your taxes…

“Tell me this what about government grants for research and small business. Are those hand-outs?”

YES!

“What about LOSERS that file BK because they are to freakin lazy to own up to their obligations. What do you say to those people?”

People file BK for many reasons… just ask Abe Lincoln… he did it twice! Without know their reasons, it’s hard to answer this… Interesting perspective though, you deal with people all the time with mortgages, are you saying all these people who file for BK are “freakin lazy”" or “losers”???

“What about Pell Grants for low income families to send their kids to college. Or government backed student loans? Are those hand-outs that the government should do away with as well?”

Debatable… my posiition is that the more you make people dependant on the government, the less they are depedant on themselves, which just makes us all as a country weaker…

“When it comes to the country going down the tubes HELL YES I am looking to the government to try and solve the problem.”

And here is where I disagree with you completely… the country was NOT going down the tubes… That’s what they said, but according to Obama, just today - “The stimulus did it’s job” and yet ony 5% of it has actually been spent… if that’s the case, GIVE THE OTHER 95% BACK!

“Your solution of “businesses failing creates markets” sounds great on paper, but try going down to the local unemployment office and talking to some of those people and ask them how they feel about their company closing down”

I would imagine the same way I felt years ago when a company went out of business… it sucks, but life moves on…

“and their kids having to put off college.”

Why should they have to put off college… they have Pell grants, right? :rolleyes I know I PAID for my college, WHILE WORKING FULL-TIME as a cook…

HOOSIER… “Audit the Fed” - YEAH! :beer …and while we are at it… audit the Federal Government!

39

What an interesting take and what an interesting idea…

http://www.cnbc.com/id/31706523

40

Hoosier. I like the idea of putting up a fence to keep out the illegals. But who’s gonna build it?? I suppose we could hire the illegals to build and make sure they’re on the other side when its finished! :biggrin