OCC: Waaah

[Goat_Herder]

I think they pulled it after 5 episodes.

I guess somebody just can't handle fame and fortune.  While they are at it, please get that Kate Plus 8 lady off the air, too.  The Wife still watches it from time to time and Kate is driving me up the wall. 

[Speedbag]

While they are at it, please get that Kate Plus 8 lady off the air, too.  

+1

And pretty much everything on E! 

[ducatiz]

+1

And pretty much everything on E! Bravo 

Bravo link

[DrDesmo]

From what I know you have to be late on your mortgage to do a loan modification. There is also a government program that certain people qualify for that will help them get a modification as well, although I heard that it's very tough to get approval (obviously for residential homes).

Getting a modification means is they lower your rate on what you owe so your payments go down, it doesn't lower the amount you owe.

As for residential mortgages, if you lost your job and got another one that pays you 1/2 as much, a loan modification isn't crap, it may save you from becoming homeless. This is what millions of people are going through right now. A lot of these people owned their homes for years before all this mortgage crap went down but still lost their businesses, savings and ultimately their homes. A lot of innocent bystanders, such a shame that stupidity and uncontrollable greed has really screwed us all.

Sorry

/Rant

Point of clarification: You don't become homeless, you are forced out of an asset you couldn't afford and rent instead.

And if you have a mortgage you don't own your home, you're renting money from the bank.  No one put a gun to anyone's head and said they had to refi their home, they had to spend $500k on a 2 bedroom home in California or Southern Florida, etc.

Anyways, back onto topic ...

Cheers,
Adam

[ducatiz]

Point of clarification: You don't become homeless, you are forced out of an asset you couldn't afford and rent instead.

And if you have a mortgage you don't own your home, you're renting money from the bank.  No one put a gun to anyone's head and said they had to refi their home, they had to spend $500k on a 2 bedroom home in California or Southern Florida, etc.

Anyways, back onto topic ...

Cheers,
Adam

[ScottieDucati]

 

[2 Wheel Wanderer]

Point of clarification: You don't become homeless, you are forced out of an asset you couldn't afford and rent instead.

And if you have a mortgage you don't own your home, you're renting money from the bank.  No one put a gun to anyone's head and said they had to refi their home, they had to spend $500k on a 2 bedroom home in California or Southern Florida, etc.

Anyways, back onto topic ...

Cheers,
Adam

The homeless thing was a over the top expression but I'm sure it's happened.

And if you have a mortgage you don't own your home, you're renting money from the bank. Sorry Fail..
If the bank really owned your home they would have to pay the taxes and insurance.

No one put a gun to anyone's head and said they had to refi their home, they had to spend $500k on a 2 bedroom home in California or Southern Florida,etc.

True, no one did but no one told them they would lose their jobs a few years later and wouldn't be able to afford their home anymore. This story is all too familiar.

Edit: FYI, I could give a crap about OCC, their bikes are lame. I was just explaining what a loan modification does then on a bit of a rant.

[DrDesmo]

And if you have a mortgage you don't own your home, you're renting money from the bank. Sorry Fail..
If the bank really owned your home they would have to pay the taxes and insurance.

Interesting point of view.  Answer me this:

1.) When you're paying a note on a car, do you pay the insurance and registration?
2.) If you have a mortgage, do you have the title for your home in your possession?

Insurance is compulsory in certain mortgages to protect the asset (read: the collateral backing up the note).  They could care less about it once you've paid it off.  You're also paying taxes for the use of the property, just like you would with a financed vehicle.

You can say "fail" all you want, but a mortgage is nothing more than renting money from a bank.  Until the debt is paid, you don't own anything except equity in the home.   Acting like people are "homeowners" when they put down 3.5%, or have interest-only loans, or any of the rest is completely false.  Foreclosure is the bank seizing an collateral asset because a borrower couldn't afford their financial obligations.

Period.

Cheers,
Adam

[ducpainter]

Cloner commented the other night that this thread wasn't really about motos.

He was right.

[DrDesmo]

Cloner commented the other night that this thread wasn't really about motos.

He was right.

+1 ...

[ducatiz]

[DrDesmo]

 

Cheers,
Adam

[2 Wheel Wanderer]

Not arguing, just stating my opinion.

Why is it that when someone says something that you don't agree with it's an "INTERNET ARGUMENT" or they need to "SIMMER DOWN".

You guys make me laugh!

[ducpainter]

who was arguing?

[ducatiz]

No idea,  I just love that pic.