This will REALLY HONK you OFF

[GeoFisher]

http://www.msnbc.msn.com/id/29146768/

Here is a quick couple quotes from the article..........Basically to fix the mortage mess, the Government is going to purchase back BAD loans refinance them at a smaller note, and KEEP people in their house......THIS IS BS........total unequivical BS......and if you REALLY BELIEVE this is a good solution, you're a SOCIALIST........pure and simple.

Under the proposal, the government would draw on $50 billion in funds already approved for the financial bailout to buy up millions of mortgages at a discount. A $300,000 mortgage on a house now worth $200,000, for example, might be bought at a 30 percent discount.

The homeowner then would be able to refinance the smaller mortgage with lower monthly payments. The government could then sell the loan back to investors, freeing money to buy more loans.

Here is the problem I HAVE..........the SCUMBAG LOSER that purchased a home he could NOT afford, now makes a 30% profit......YES PROFIT................YES.......FREAKIN PROFIT........Man I'm burning UP..........

When the market rebounds, and it will and the equitity in the home appreciates......YOU AND I GET SHAFTED, for doing the RIGHT THING, while SCUMBAG LOSER.........makes a PROFIT..........

MAN, this honks me OFF.

TOTAL CRAP.

Later,

Geo

[mhall]

Dang it George me and you are pals and all and see eye to eye on most things but the sun is shining and I want you to post something up beat next time, lol. It is total crap though I agree, a guy here in the office and I were just taking about this very thing. I need to go catch some fish to get me in a more pleasant frame of mind.

[Tyme2fish]

I'm sure this would all progress without any sort of fraud being committed. (sarcasm)

When do I get my payoff? I bought a home I could afford. I took a 15 year mortgage to lower interest costs and paid the loan in 7 years.

I then saved all those "mortgage payments" after that for my sons's college education. Guess I should've taken several trips on the cruise lines instead.

Where's my money for being prudent and living within my means? Please, please Mister Gubment man, come help me!!!

[GeoFisher]

I just see my opportunities to retire ANYTIME soon............dwindling.......

When things are announced like this, and the Dow plummets........400 points 2 days ago and 200 points today......THAT MAKES ME SICK.

Everyone who has any financial sense around the world knows these bailout and Government HANDOUTS are going to effect the financial markets for a LONG time to come. I bet it will be 5-8 years before we see the dow anywhere NEAR 10K.

AND that is SAD. Every year it stays stagnet, LIKE during the early 80's is another 3 or 4 years I have to work........

Later,

Geo

[know1]

http://www.msnbc.msn.com/id/29146768/

Here is a quick couple quotes from the article..........Basically to fix the mortage mess, the Government is going to purchase back BAD loans refinance them at a smaller note, and KEEP people in their house......THIS IS BS........total unequivical BS......and if you REALLY BELIEVE this is a good solution, you're a SOCIALIST........pure and simple.



Here is the problem I HAVE..........the SCUMBAG LOSER that purchased a home he could NOT afford, now makes a 30% profit......YES PROFIT................YES.......FREAKIN PROFIT........Man I'm burning UP..........

When the market rebounds, and it will and the equitity in the home appreciates......YOU AND I GET SHAFTED, for doing the RIGHT THING, while SCUMBAG LOSER.........makes a PROFIT..........

MAN, this honks me OFF.

TOTAL CRAP.

Later,

Geo

I agree with you in principle that it is a bad idea to do this, but just want to point out that not all people who are in trouble with their mortgages are "scumbag losers" who bought houses they couldn't afford.

[GeoFisher]

I agree with you in principle that it is a bad idea to do this, but just want to point out that not all people who are in trouble with their mortgages are "scumbag losers" who bought houses they couldn't afford.

Fair enough.......but if you PURCHASED above your means, the government has NO RESPONSIBILITY to SAVE your BUTT.........

Sorry, but I've paid my way for EVERYTHING, and would NEVER let the gubment bail my BUTT out of a bad situation.

Talk about paying a STUPID TAX........we're all going to be paying this tax for a LONG time to come..

Later,

Geo

[greenriverman1]

A friend of mine has just lost his job that he had been working for the past 18 years. He is like myself in his 50's. I hope that everything works out for he and his family.

I lost my job two years ago due to illness. Thank God I don't think I have a worry about my home. But the question is who knows what tomorrow will bring for any of us?

When I lost my job I had 20 years of service in. I thought I was safe but I got ill. It has taken two years for me to get my disability retirement. I had to hire an attorney in order to get what was coming to me. I had a disability INS policy that work had provided and that I drew out 25,000 + dollars from. That helped alot. Well think God my retirement has finaly come in. I got $24,217 in back pay they held out $6,616 in Fed taxes (no state) 21.12 for medical ins. So I ended up with a check for 17,579.00 . I inturn had to pay my atty. just under $10,000.00 so I ended up with about $7,600.00. Now here is the kicker the disability ins. co. wants $25,000.00 back because I am now drawing my retirement and according to the policy that I have just received a copy of I have to pay these folks back! $25,000 does not look anything like $7,600.00 DA

[Chubminnow]

Dang it George me and you are pals and all and see eye to eye on most things but the sun is shining and I want you to post something up beat next time, lol. It is total crap though I agree, a guy here in the office and I were just taking about this very thing. I need to go catch some fish to get me in a more pleasant frame of mind.

I can relate to everybody that has posted on this thread...but I think I have to agree with Mhall....what's going to happen is going to happen...in all honesty their ain't nothin' we can do about it is there? If there is then please share it with us so we can do something about it. And if not? Well....let's all load up the truck, boat and cooler and let's go fishin'...have some stogies, maybe a few sips of bourbon...(inhaling deeply now) Ahh yes, the taste of alcohol on my breath, a halo of cigar smoke around my head and the smell of fish on my hands...yep, that's right where I need to be! All is right in the world after all.

[DJD]

Thank you for all your help Mr. Gubment man. Now I officially don't like them.
I guess it's true they won't be happy until they dumb us all down to be equal to every hard luck situation or no count losers or stupid moron american or non american.

We will be beat down until it doesn't pay to try. What's next? Student loans? Maybe all those people with loans should get forgiven as well? Heck with paying that back! Why stop there lets give the fools who bought more car than they should have a better rate and shorter terms. The same with boats, and recreational vehicles!

What are we going to do with kids in College? I mean what's the driving force? Grow up to be like any other average joe? Why try and excel when the gubment just constantly lowers the bar so everyone can share in your hard work. These guys really take the cake.

[MsgMills]

A friend of mine has just lost his job that he had been working for the past 18 years. He is like myself in his 50's. I hope that everything works out for he and his family.

I lost my job two years ago due to illness. Thank God I don't think I have a worry about my home. But the question is who knows what tomorrow will bring for any of us?

When I lost my job I had 20 years of service in. I thought I was safe but I got ill. It has taken two years for me to get my disability retirement. I had to hire an attorney in order to get what was coming to me. I had a disability INS policy that work had provided and that I drew out 25,000 + dollars from. That helped alot. Well think God my retirement has finaly come in. I got $24,217 in back pay they held out $6,616 in Fed taxes (no state) 21.12 for medical ins. So I ended up with a check for 17,579.00 . I inturn had to pay my atty. just under $10,000.00 so I ended up with about $7,600.00. Now here is the kicker the disability ins. co. wants $25,000.00 back because I am now drawing my retirement and according to the policy that I have just received a copy of I have to pay these folks back! $25,000 does not look anything like $7,600.00 DA

Been in your shoes and had to do the exact same thing.........It was just a loan the Disability Company said...So I had to re-pay every cent I got from them...Disability insurance ain't worth a hoot in my opinion......

[wishniwasfishn]

I know someone personally that this bill will help, and he is by no means worthless, company relocated, lost his nice paying job to someone in Mexico, his hard working, well paid wife ran off with someone who "paid attention to her" He has been working three jobs to try and keep up with his house payement, and the other bills that come with owning a home, and raising his son bye himself, he is now about to lose his house because he cannot keep working 18 hours a day, all the while trying to raise his son to be a sound adult. I think this is a great bill if it helps people like him, and its about time the gubment helps someone who is a citizen, and has worked his whole adult life, to make a better life for himself and his son. He has never asked for anything, and would give you the shirt off of his back if you asked, and he needs this to keep him in his home, cause god knows what he might do if he loses one of the few things he has left. So not everyone this bill will help is worthless.

[Tyme2fish]

Well....let's all load up the truck, boat and cooler and let's go fishin'...have some stogies, maybe a few sips of bourbon...(inhaling deeply now) Ahh yes, the taste of alcohol on my breath, a halo of cigar smoke around my head and the smell of fish on my hands...yep, that's right where I need to be! All is right in the world after all.

Ah!! Cigars and Bourbon. When are we going fishing?? !!!!


My wife always knows to have a good bourbon on the rocks ready for me after I clean a mess of catfish. Just something now about the smell of catfish guts that starts my Paflov dog salivary glands watering for a nice bourbon.