Originally posted by Blaine91555
reply to post by orkson
Don't borrow if you don't intend to pay it back or can't pay it back. It is that simple.
Don't buy things you cannot afford. Those who took out loans they could not make the payments on share equal responsibility. You have to be half mad
to think the world owes you a house for free for instance. A liar and a crook.
I find it amazing those who borrow money and then try to get out of paying it back call the lenders crooks No honest person is fooled by that
nonsense.
I am thoroughly impressed with your callousness...I can only assume you do not watch the news, you do not actually read any of the threads on this
sight. Lets talk about the loans that they couldn't afford, those loans were designed to and written in a way to fool the average individual. For
example, a family thought it was getting a mortgage payment of 450 a month and then after two years it popped to 1800 a month. Now you will say, it
is their fault for not reading the fine print, and it is. However, most of those documents are so thick and verbose that very few of us are trained
to read them the way they should be read.
Calling a banker a crook is honest....The banks use fuzzy accounting to absolutely ensure you owe more fees than you would normally if it was a
straight ledger. We have gone over this numerous times, banks will put transactions into 'pending' status and then tally them when they wish, and
it is usually when it will hurt you and gain them more fees.
We bought a house in '08, the mortgage was through a LOCAL mortgage broker, as we intended. The day we signed, it was sold to Citi. The home loan,
property tax, and insurance payment were all due to Citi, and then Citi would pay the other organizations. Citi decided to take our payment and NOT
pay the home owners insurance. We were not aware this was happening until we got a letter from our insurance company that said they were dropping us.
They would not take us back because we lapsed four months. Citi put us under their insurance plan which doubled our monthly payment....Doubled, we
were paying more for the insurance plan than we were for the mortgage. We still had zero choice, we shopped other plans, but because we lapsed, we
could not get a policy with any other company....Even though we paid our monthly payment to Citi on time every time. My wife bitched about their
actions, and they immediately put us into the 'new' modification program, not telling us what it was. They took our payments but didn't apply it
to our loan, taxes or insurance because we had to be 6 months delinquent to meet the requirements of the remod program. Again, this was all kept from
us, so now our credit was shot because we were delinquent, and then, they sold us to another mortgage company while being delinquent. We didn't even
know who the company was for two months, nor were they able to tell us. "Sorry, your account has been closed to do it being purchased by another
company."....."Okay, who bought it?"...."I don't know". We finally got everything squared away for a year, and due to economic troubles, we
missed one month. They wouldn't except partial payment and started the foreclosure process. There was not any give on their part, it was pay in
full or else. Well, the or else, we lost our home.
Thank you Big Banks. So tell me again, this is all the fault of the individual that takes a loan they can't pay back.....You know what, most of us
want to make good on our debts. It is not our willingness that is causing this problem, it is the inability or disinterest of the big banks to work
with the little guy. It amazes me that they would rather have a house on their books with no future, then to accept half payment of the back due with
future promise. We were one month late, and offered that to them being just two days into the next billing cycle. Which wasn't actually DUE for
three weeks. Yet they claimed that once it was 'billed' it was actually due, the 'due date' on the statement is just a 'final due date'. And
partial payments were not accepted. This is just my story, and I am sure there are a ton more out there far worse.
Back to my point, I am impressed by your lack of empathy and callousness, it shows you are either too young to have had any real financial problems or
your well off....Either way, you have zero personal experience, I am happy for you.