That was another American Nightmare story. That guy did everything right, as far as I can see. They put 20% down on the property and in New York, the price was not outrageous. Best of luck to him. By working where he is, perhaps someone he recognizes can offer him a job when things get better.
Third--The cat's favorite teams are the Sox and anyone playing the Skankees or Flubs.
The cat's favorite manager? Lee Ilya. He told it like it was.
The Flubs is the North side transplant favorite. The Sox have real home grown fans!
On the American nightmare: As the Gerbil Administration left (and also the Faux Nutlodeon Nutwork) has you believe that people caused their own fate of foreclosure.
Yep you are right, this guy like many put 20% down, etc. did all the right things, and when you are without employement for long periods of time it doesn't matter if you owe $500K or $50K, no money coming in and a decrease in home value is always trouble. This guy also had a nice savings account that is depleted.
My real estate broker friends, and finance brokers tell me what they see is people like this guy's, people who had equity in their home, no credit card bills, savings, and then no job and their story is like this guys.
Hi guys I'm now on the East Coast and it's great. Now I'm not into the race stuff so I'll leave it alone. Looks like the GOP brought back Osama to talk without pictures. Even the Middle East thinks it's stupid. I'm glad the GOP didn't use that man with the fake beard to pass off as real.
Yes, Jackie now we have the Osama voice series, on new release Tuesday. It is getting ridiculous.
Jackie we are talking Baseball. Chicago has a South Side Team (White Sox, American League) and then the North Side team, the Cubs, National League.
You may or may not know but the northside of Chicago has very little native residents, it's all transplants, and they all become Cubs fans, where the Cubs play is Wrigley field, aka the Biggiest Bar on the North Side.
Everyone who moves to Chicago, from downstate, out of state, or where-ever always goes to the North Side. And many their whole time transplanted there, until they have kids and transplant to Naperville (a suburb of soccer Mom's etc)they never, ever go to the South Side, they think we station a shooter on one corner in each intersection or something and shoot out of towners (rather out of South Siders) ya, really some are scared to death to ever go to the South Side, I have met many of these transplants at work, they are amazed I get back and forth each and every day without incident.
That reminds me cough, cough I have to go to the neighborhood scheduling meeting to make sure North siders stay out of our part of town cough, cough you know we have to have at least one corner covered in each intersection cough, cough no...seriously Jackie, I am jocking, (couldn't you guess by the hairball episodes)
But seriously, there are people who are scared to death to go to the South Side of Chicago, and really scared.
But it's a good thing, we don't have all the high rise condo and apartment units (condensed people) with all the excess of traffic and lack of parking that brings. So it's ok they stay away, but I wish they could loose some of the attitude.
Ya, unfortunaltly an undercover cop was shot a couple of days ago, yep close to home, yep on the South Side, they have the two guys in custody. But they weren't all that far from my place.
My mortgage broker friends (on the American nightmare story) are telling me that they have so many with good credit coming in to save some money, since,....well they lost their jobs, took a job with a nice pay cut just to work, and when they try to refinance at a lower rate they can't because even homes they have lived in 10 years have plummeted in value, and well so has their salary, so they can't take advantage of the new lower rates that could save these folks $100 plus a month.
So they are upset that the banks are blaming customers for getting over thier head, when these people were in good shape before home values went ka poot and their pay went down due to just getting any job they could. But this is not what you hear from the big banks they blame it all on the customers, and the Gerbil Administration blames the banks for bad loans. Hey from what I hear from my friends, that is just a small percentage of what they are dealing with.
Thanks for sharing Chicago Native. The problem is that the values of homes have inflated due to greed of banks and mortgage. The true value of homes have to be restored to its original. Also, big banks are getting frustrated because of the financial crisis and the government's pressure on the bailout banks and banking practices.
Your brokers' friends should write and address that issue to Treasury Secretary.
7 comments:
Another American Dream Story
Too many stories like these.
That was another American Nightmare story. That guy did everything right, as far as I can see. They put 20% down on the property and in New York, the price was not outrageous. Best of luck to him. By working where he is, perhaps someone he recognizes can offer him a job when things get better.
Third--The cat's favorite teams are the Sox and anyone playing the Skankees or Flubs.
The cat's favorite manager? Lee Ilya. He told it like it was.
Go Cat Go! Yep the Sox rule in this town.
The Flubs is the North side transplant favorite.
The Sox have real home grown fans!
On the American nightmare: As the Gerbil Administration left (and also the Faux Nutlodeon Nutwork) has you believe that people caused their own fate of foreclosure.
Yep you are right, this guy like many put 20% down, etc. did all the right things, and when you are without employement for long periods of time it doesn't matter if you owe $500K or $50K, no money coming in and a decrease in home value is always trouble. This guy also had a nice savings account that is depleted.
My real estate broker friends, and finance brokers tell me what they see is people like this guy's, people who had equity in their home, no credit card bills, savings, and then no job and their story is like this guys.
Hi guys I'm now on the East Coast and it's great. Now I'm not into the race stuff so I'll leave it alone. Looks like the GOP brought back Osama to talk without pictures. Even the Middle East thinks it's stupid. I'm glad the GOP didn't use that man with the fake beard to pass off as real.
Yes, Jackie now we have the Osama voice series, on new release Tuesday. It is getting ridiculous.
Jackie we are talking Baseball. Chicago has a South Side Team (White Sox, American League) and then the North Side team, the Cubs, National League.
You may or may not know but the northside of Chicago has very little native residents, it's all transplants, and they all become Cubs fans, where the Cubs play is Wrigley field, aka the Biggiest Bar on the North Side.
Everyone who moves to Chicago, from downstate, out of state, or where-ever always goes to the North Side. And many their whole time transplanted there, until they have kids and transplant to Naperville (a suburb of soccer Mom's etc)they never, ever go to the South Side, they think we station a shooter on one corner in each intersection or something and shoot out of towners (rather out of South Siders) ya, really some are scared to death to ever go to the South Side, I have met many of these transplants at work, they are amazed I get back and forth each and every day without incident.
That reminds me cough, cough I have to go to the neighborhood scheduling meeting to make sure North siders stay out of our part of town cough, cough you know we have to have at least one corner covered in each intersection cough, cough no...seriously Jackie, I am jocking, (couldn't you guess by the hairball episodes)
But seriously, there are people who are scared to death to go to the South Side of Chicago, and really scared.
But it's a good thing, we don't have all the high rise condo and apartment units (condensed people) with all the excess of traffic and lack of parking that brings.
So it's ok they stay away, but I wish they could loose some of the attitude.
Ya, unfortunaltly an undercover cop was shot a couple of days ago, yep close to home, yep on the South Side, they have the two guys in custody. But they weren't all that far from my place.
Now that just adds to the South Side reputation.
Kitty, Jackie, Bil and all,
My mortgage broker friends (on the American nightmare story) are telling me that they have so many with good credit coming in to save some money, since,....well they lost their jobs, took a job with a nice pay cut just to work, and when they try to refinance at a lower rate they can't because even homes they have lived in 10 years have plummeted in value, and well so has their salary, so they can't take advantage of the new lower rates that could save these folks $100 plus a month.
So they are upset that the banks are blaming customers for getting over thier head, when these people were in good shape before home values went ka poot and their pay went down due to just getting any job they could. But this is not what you hear from the big banks they blame it all on the customers, and the Gerbil Administration blames the banks for bad loans.
Hey from what I hear from my friends, that is just a small percentage of what they are dealing with.
Thanks for sharing Chicago Native. The problem is that the values of homes have inflated due to greed of banks and mortgage. The true value of homes have to be restored to its original. Also, big banks are getting frustrated because of the financial crisis and the government's pressure on the bailout banks and banking practices.
Your brokers' friends should write and address that issue to Treasury Secretary.
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