Home› Precious Metals

Thousands Line Up For Mortgage Help

gsa1fangsa1fan Posts: 5,566 ✭✭✭
in Precious Metals
Reporter says Georgia is the sixth highest. Watch video


Housing crisis reality
Avid collector of GSA's.

Comments

  • melikecoinsmelikecoins Posts: 1,154 ✭✭
    Happy talk

    That is what we get

    Glen
    I don't buy slabs I make them
  • KameoKameo Posts: 207
    Did he say 2%? Geez, where do I find the line? How does the bank make money? I'm no financier, but I'd think inflation would cause the banks to lose money on 2%.
  • johnny9434johnny9434 Posts: 28,313 ✭✭✭✭✭
    i still dont see how the government is still handing out money with high unemployment? maybe im missing it
  • 7over87over8 Posts: 4,733 ✭✭✭
    my guess on %'s of the crowd in the video.........


    there are those who unfortunately got caught in a bad business environment and otherwise would have been able to afford their homes without any assistance - 10% (amazingly the one person they focused on in the report)

    those who couldn't afford the house to begin with and had no business owning a home based on their incomes or sporadic work histories - 90% (the rest of the crowd standing on line looking to perpetuate the free handouts - and still dont realize they cant afford their homes)

    ----and I dont care about those so-called "predatory" lenders......we all learn from a very young age what we can afford and what we can't.....

    a few simple rules....

    1) if you are a dual income family, buy a home only with the support of one income.....
    2) if you are a single income family, buy a home where the mortgage payment (PITI) does not exceed 28-32% of your gross income.
    3) your home is not a bank account, do not spend idle equity on vacations, cars, etc. spend it only on capital items that add value, and only in moderation.



  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    It's stunning how pathetic this is getting. You can buy a house in SW Fla, in a nice middle class area like Charlotte Cnty ( Punta Gorda, Port Charlotte ), for less than 50 grand. Houses are cheaper to buy or to rent here than when I rented my first place in NJ 30+ years ago and they STILL are having waves of foreclosures.

    While blaming it on everyone else.

    While the real estate has now plunged to prices that are essentially 1/3 of what they were at the height of the bubble in 2006, the government has RAISED taxes. A house I looked to buy as an investment, sold in 1991 for 175K. Reached a almost $550K in 2006, was in foreclosure 6 months ago and was sold for $149K. Taxes were just raised on that house to a little over $5,000.

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    the house

    Liberty: Parent of Science & Industry

  • 7over87over8 Posts: 4,733 ✭✭✭
    mrearlygold

    I agree with your comments.....

    The thing that i've noticed here in NJ/PA/NY is that the prices have not tanked as much as FL or CA/NV, but they will drop further from here....the only thing keeping them stable is the defaulting owners refusal to lower the prices to get out of the "noose around their necks"

    So - asking prices are at unreasonable levels...and nothing is selling....and the owners dont care.......they are living rent free!!!!!

    As soon as banks get with it and start to kick people out within 6 mo of defaulting, the prices will show downside momentum.

    It is unreal - people default, dont pay a dime, continue to live in the house for 2 years without being foreclosed on......unbelievable.
  • BochimanBochiman Posts: 25,378 ✭✭✭✭✭
    The governments are being stupid on the taxes as well....

    When they raise them like that, it isn't worth it to many who COULD buy TO buy. I was playing with the idea of buying a house in FL, SC, or NC (vacation home/investment). $50k-$75k is something I could so and not hurt too badly. But, I'll be damned if I'll do it and pay that $5k/yr (which would only go up and up and up) plus all the upkeep, etc.

    So, they can have their empty houses and they will make less than they would otherwise.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,286 ✭✭✭✭✭
    Saving myself from homelessness, by lowering the cost of my debt for a home I cannot afford, still leaves me in debt and eventually homeless.
    I'm just sayin' ...
  • meluaufeetmeluaufeet Posts: 764 ✭✭✭
    Property taxes are being raised on Maui to make up for the drop in assessment values. Cigs and gas were raised at the State level this year... so we didn't see the drop in gas prices at the pump. Gas at $4.05 a gallon... cigs around $8 - $10, and I don't even want to say how much in property taxes the family pays...

    They haven't found a way to tax the sunshine and ocean... yet.

    And they think affordable housing is $300+k...

    ... is it any wonder, that I wait to buy almost everything until its on sale.
  • NitroCruiserNitroCruiser Posts: 654
    I found it interesting when a woman in the background noticed the camera and covered her face. Why hide?
Sign In or Register to comment.