Posted by topflyt on 9/8/11 7:15pm
Msg #396778

President's speech

Well, among the hoopla as it is with every speech, he did say that they are going to work with mortgage companies to get more refi's going to booster the economy....gee...what took so long?

Reply by Linda_H/FL on 9/8/11 7:17pm
Msg #396780

I didn't listen...but pray tell how??

Homeowners are just as much under water and upside down on their mortgages now as they were before he spoke...how does he intend to change the appraisals and home values?? And how does he plan to justify loaning money to people who are unemployed or can't afford to pay it back?

I know...we should be in JP..

Reply by Notarysigner on 9/8/11 7:21pm
Msg #396781

Yes...I personally don't think that belongs here either n/m

Reply by HisHughness on 9/8/11 7:26pm
Msg #396782

You Obama bashers just don't get it, do you?

What is it about rightwingers that gives them the idea they don't have to abide by the rules? Are you so self-absorbed and so convinced of your own rectitude that you think anything you saythat advances your rightwing agenda is okay , regardless of where you say it?

This belongs in JPol. But you knew that before you posted, didn't you?

Reply by jba/fl on 9/8/11 7:36pm
Msg #396784

Perhaps just like to ruffle your feathers? n/m

Reply by Philip Johnson on 9/8/11 7:42pm
Msg #396787

Hugh maybe it was posted incorrectly like Msg #391023

Oh wait that was a message you did and posted in the wrong forum. But you knew that before you posted, didn't you?

Reply by C. Rivera Chicago Notary Services on 9/8/11 8:11pm
Msg #396795

..oh that, he's just teaching by example is all... ;) n/m

Reply by HisHughness on 9/8/11 8:22pm
Msg #396802

Philip, you're being a jerk

What you have failed to cite is message #391024, immediately after #391023. That message reads:

***
Please, please, everybody report this post. I was watching TV and didn't pay any attention to what forum I was in. The more people who report it and the quicker they do, the sooner it will be taken down.

I'm really sorry. I have no excuses. Not only is it in the wrong forum, the language is just way over the line.

If you respond to it, please just take me to task for doing something so stupid, not to the content. Please don't make a really bad situation worse.

Again, I'm sorry.
***

There has been no apology by your wingnut wingman, nor any request by him that other members of the forum report an inapproriate post.

Instead, what we have are enablers like Julie -- who herself likes to pollute Discuss Work and Leisure with her rightwing claptrap -- once again taking the attitude that as long as it's rightwing, it's okay.

The post in inappropiate in Discuss Work, and however much seek to justify it, it will remain inappropriate. But jusifying that sort of conduct is part of being a rightwinger, isn't it?

Reply by C. Rivera Chicago Notary Services on 9/8/11 8:33pm
Msg #396811

WOW..so GLAD to be BACK here on NotRot! =) n/m

Reply by NJW/FL on 9/9/11 10:23am
Msg #396856

Re: You Obama bashers just don't get it, do you?

Gee, I read Linda's post and did not find it the least bit offensive, just stating facts. What set you off on your very offensive tirade? She was just questioning how it could be done? I do think "we the people" should be able to ask these questions and receive the answers.

Reply by Sal Servin on 9/9/11 10:51am
Msg #396861

Re: You Obama bashers just don't get it, do you?

Oh! boy a lefty drone...

Reply by Glenn Strickler on 9/8/11 8:11pm
Msg #396797

Hey, Chill....

We have all made that error, one time or another...... Let's move on.

Reply by Blueink_TN on 9/8/11 8:31pm
Msg #396809

The programs that have been put into effect to try and pry up the mortgage industry need to be revisited. The ability to refi a fannie mae loan with a loan to value up to 125% without paying MI is awesome - but it's not helping the areas that have been hit the hardest (FL, CA) where many homes have lost 50% or even more of their value. Those homes should have the ability to refinance to the lower interest rates regardless of loan to value. The modifications that are available (if you're lucky enough to almost lose your home to qualify) shouldn't be just for primary residences. There are many investment, second homes or vacation homes that wouldn't be foreclosed if modifications were available to all.

Reply by HisHughness on 9/8/11 8:37pm
Msg #396812

Much more like it. A discussion of the impact of possible legislation on our profession.

I'm not sure I would agree that public resources should be available to bail out the owners of second homes or vacation homes, or investment properties. But absolutely for homesteads.

Reply by Blueink_TN on 9/8/11 8:58pm
Msg #396815

Hugh

I believe a mortgage is a mortgage - If one owns a second home and due to the lousy economy, can no longer make the payment, yet is unable to sell it because it's upside down, don't you think it would benefit everyone to refinance to an affordable payment in lieu of foreclosure? Sorry about the long sentence - it's been a l-o-n-g day Foreclosures and shortsales are causing havoc - the domino effect.

Reply by Susan Fischer on 9/8/11 9:12pm
Msg #396821

How about a compromise: all homestead upside-downers

first, then a second wave for second-homes upside-down.

Stop the leak, then mop the floor.

Reply by Blueink_TN on 9/8/11 9:18pm
Msg #396824

Re: How about a compromise: all homestead upside-downers

That would be a start. Reducing the interest rate and allowing a home to stay out of foreclosure is not only benefiting the homeowner, it's benefiting all of us.

Reply by Susan Fischer on 9/8/11 9:41pm
Msg #396827

Absolutely. I would advocate for lowering the property

values to some appropriate "pre-bubble" and not feel a bit sad for the "profits" lost to lenders - they already got the profits from fees, commissions by the collusions.

Reply by HisHughness on 9/8/11 10:03pm
Msg #396832

There is much social benefit derived from home ownership.

I don't think society derives the same benefits from second home, vacation home or investment home ownership. Investment property is business property; unless you would extend mortgage protection to the mortgagees of corner grocery stores and 50-story office towers, then investment homes should not receive it either. As to protection for second homes and vacation homes, I don't think public resources should be invested in second homes and vacation homes.

Reply by HisHughness on 9/8/11 10:06pm
Msg #396833

Correction: Mortgagors, not mortgagees n/m

Reply by Blueink_TN on 9/8/11 10:25pm
Msg #396837

Re: Correction: Mortgagors, not mortgagees

In many cases 'investment property' is actually homes that were unintentionally caught in the mortgage demise. A homeowner has a cause to relocate and they purchase another home with the intent to sell the first. This was common practice and successfully carried out, until the housing market went south.... boom .... two homes, two mortgages. If they end up renting the home, it's only to collect rent to make the payment, hardly 'investment property'.

Reply by Susan Fischer on 9/8/11 10:41pm
Msg #396840

There will always be squiggles in circumstances. For the

most part, though, can we agree that multiple homeowners have more resources than the average American who's underwater because of the bubble fraud?

A rental that doesn't pay it's way is more a bad investment, or lousy landlording, than relatively rare personal reasons.

I know I closed re-fis for homes that were "appraised" for $300K that didn't have foundations! I made my money off of the bubble, but truth be told, I sure wouldn't do it again. And too, I have, during that time, spoken up when it was obvious the broker was a scammer - of course, didn't get paid, but slept like a baby.

In the situation you mentioned, an alternative could be a rent-to-own, for instance.

Anyhoo - if we can get some legislative movement and teeth to make it work on mods, man-oh-man, that would help tons.

Reply by Les_CO on 9/8/11 8:43pm
Msg #396813

Woe is me!
I missed the speech….Did he say anything new and different? Are better days coming? Is my house worth more now? Can my relatives and friends finally get back to work? Can I buy that new frig? I sure hope he’s fixed all this stuff that Bush did.

Reply by Susan Fischer on 9/8/11 9:13pm
Msg #396822

Why not read it yourself, and make up your own mind? n/m

Reply by marilyn/PA on 9/8/11 10:14pm
Msg #396834

Re: Why not read it yourself, and make up your own mind?

They need to replace all of them in the White House with an average person with 5 kids that knows how to BUDGET.
AND lets cut some of these govt employees paychecks......(Ex.) ...Someone has a Bachelor's Degree and makes $60,000 yr....and the same person with the same degree working for the govt. makes $100,00 for the same job. What's wrong with this picture???
They are all crooks, Democrats and Republicans................Get them ALL OUT!!!!
Lets get the average Joe and Jane in their to get the job done.

Reply by Hart - Marilyn on 9/8/11 10:16pm
Msg #396835

Re:

there no their...........

Reply by PA_Notary_II on 9/9/11 9:46am
Msg #396855

Re: Why not read it yourself, and make up your own mind?

I have always believed that congressional reps should be selected the same way jurors are for jury duty. Congress should not have to meet for any longer than 6 months to complete the nation's business except in a time of national crisis/emergency. Further all representatives, in my opinion, should be paid the equivalent of the national average wage and actual, verified expenses.
No more. They would be considered on leave from their usual job with the absolute right of reinstatement after their term of service, just like a military reservist after summer camp. Perhaps if we had common folks in power we would experience the refreshing air of common sense that is so so lacking in the halls of congress today. Regardless of party affiliation, our representatives today are polititions ONLY. They do not represent our interests nor do they govern the country.....corporations, sadly run America.

Reply by jba/fl on 9/9/11 9:36am
Msg #396853

Gee - for thinking that this is on the wrong forum and the "right" approved, Huge posted 5 times, Susie 4. And the most vociferous whining came from the one who posted the most.

ROFL

Reply by Susan Fischer on 9/9/11 10:36am
Msg #396858

Notice the OP was not re-posted in JP for further discussion

nor was there an "oopsie" posted.

Who's got the bad form?

Reply by SueW/Tn on 9/9/11 11:49am
Msg #396873

No need for an "oopsie" post

I thought the OP was perfect for discussion here considering the fact that it would bring in more work for all of us if they begin removing the obstacles for LM's. I don't know where the heck the violent outburst came from, this is totally in line with OUR work.

I heard an economist the other day saying the reason LM's are not being offered AS THEY SHOULD BE was because banks lose, on average, 35% and the banks (even though they've been bailed out) don't want that kind of hit. So they're sitting on that cash? They have no right to do that IMHO, that bail out came from the pockets of all taxpayers. Now BoA is talking about laying off 40,000 employees......

Anyway, sorry...got OT, I still believe this post belongs here...top plainly stated his concern (or hope) regarding mortgages which WAS covered in the speech.

Reply by jba/fl on 9/9/11 12:14pm
Msg #396877

Not me - I thought in correct place. n/m

Reply by HisHughness on 9/9/11 2:06pm
Msg #396890

It's pointless with these jokers, Susan

Julie gets her jollies by posting rightwing drivel in Leisure and Discuss Work, and then chanting "Nah! Nah! Nah!" when someone objects. It's the sandbox mentality that so often afflicts those of her persuasion.

And Sue is willing to support any posting anywhere that supports her rightwing ideology, including this one in which the OP trashes the president's speech and the administration's supposed lack of action.

You have to understand the rightwing mindset. The Right is right, God told them so, so they can say whatever they wish to say wherever they wish to say it, and forum rules -- or any other rules -- be damned.

Reply by SueW/Tn on 9/9/11 2:25pm
Msg #396894

Re: It's pointless with these jokers, Susan

Whew....Hugh....a suggestion, leave JPol in JPol. You are the only person here making this an anti-Obama thread. Go eat a do-nut or drink some OJ, you're having a low.

Reply by jba/fl on 9/9/11 2:40pm
Msg #396897

You have now gone senile...pay attention to yourself old man n/m