Extreme Ungratefulness

[soonervegas]

http://www.accessatlanta.com/news/content/entertainment/tv/stories/2008/07/25/foreclose_0726_web.html?cxntlid=homepage_tab_newst ab<br%20/>

It has a happy ending though. I am sure our government will bail them out.

[frankensooner]

Extreme Idiots.

[Hamhock]

i don't like your link.

does that make me ungrateful?

[JohnnyMack]

Ungrateful or just really bad at business?

[Sooner_Havok]

That is redonkuless

[Hamhock]

the government should bail them out.

how did they know the construction company wouldn't make it?

besides, i bet one of their vegetables got cancer.

[Sooner_Havok]

the government should bail them out.

how did they know the construction company wouldn't make it?

besides, i bet one of their vegetables got cancer.

I guess you're right. If the gubment man gonna bail out retarded businesses it may as well bail out these folks. Hell, they ran a retarded business plan & got a bad mortgage :eek:

[NormanPride]

Well, if you leverage your home for a business that fails, this is what happens. I imagine it happens all the time, really.

[Hamhock]

Well, if you leverage your home for a business that fails, this is what happens. I imagine it happens all the time, really.

don't forget the part where someone paid off their home and quadrupled its value, for free.

[yermom]

how is it different than just selling the house?

[yermom]

i don't like your link.

does that make me ungrateful?

http://www.accessatlanta.com/news/content/entertainment/tv/stories/2008/07/25/foreclose_0726_web.html

[Penguin]

I have always heard that the worst thing you can do when you get money is to start a business. That's how a lot of lottery winners go backrupt.

[JohnnyMack]

I have always heard that the worst thing you can do when you get money is to start a business. That's how a lot of lottery winners go backrupt.

That and hookers and blow.

[Hamhock]

That and hookers and blow.

are those two separate things?

[Fugue]

I have always heard that the worst thing you can do when you get money is to start a business. That's how a lot of lottery winners go backrupt.

speaking of which, I sneezed the other day and gave myself back spasms

sucked

:gary:

[Hamhock]

how is it different than just selling the house?

i am not understanding your question.

[yermom]

they got a second mortgage to start a business.

said business goes in the ****ter. they can't pay the 2nd mortgage, they lose the house.

if they would have sold the house to start the business, it's not that much different, except that if the business works out, they have the business and the house.

if they business had been sucessful, would someone say they were ungrateful?

[JohnnyMack]

The question becomes whether or not it's ethical to put such a gift at risk I suppose.

[TMcGee86]

Good lord.

You have more house than you could ever want, for free no less, and you can't just be happy working a normal job, or start up one you could actually afford?

Unreal.

[Sooner_Havok]

The question becomes whether or not it's ethical to put such a gift at risk I suppose.

Thats my thought. If Someone gives me a house, and all I got to do is pay utilities and insurance, I don't think I put that in jeopardy.

[Hamhock]

they got a second mortgage to start a business.

said business goes in the ****ter. they can't pay the 2nd mortgage, they lose the house.

if they would have sold the house to start the business, it's not that much different, except that if the business works out, they have the business and the house.

if they business had been sucessful, would someone say they were ungrateful?

there is a huge difference.

i sell my house and invest the money in a business. it goes broke. I have lost MY money and fulfilled all my obligations to those involved.

in this scenario, they borrowed against the house, agreed to pay back the money and then crawfished the bank, the shareholders of the bank don't care if they invested in a business or spent it on blow and hookers. they defaulted on their commitment.

i actually talked to someone the other day who said they had decided to "just let the house go back to the bank", as though that was the freaking deal to begin with. The bank says "here is some money, go buy a house. if you get tired of making the payments, just move out and we'll take the house back, no hard feelings".

[soonerbrat]

i think the gubment should bail me out of my student loans. my degree is worthless

[Sooner_Havok]

i think the gubment should bail me out of my student loans. my degree is worthless

You too huh :D

[mdklatt]

You have more house than you could ever want, for free no less, and you can't just be happy working a normal job, or start up one you could actually afford?


They probably couldn't afford the property taxes anymore. That's one of the many, many things that bothers me about that stupid show.

[yermom]

yeah, some crazy house like that is gonna have big taxes and utility bills

[mdklatt]

yeah, some crazy house like that is gonna have big taxes and utility bills

And is going to attract attention and **** off the neighbors in general. So many things wrong with that show.

[BigRedJed]

The show should also put the houses in trust when they "give" them to these people. The people they do the makeovers for may be fine, heroic, and however else they portray them on the show, but like it or not, a number of them are probably in their desperate straights at least in part because they are HORRIBLE at managing their own finances. Getting a free house, etc., isn't going to change that.

[Penguin]

backrupt. Heh.

[yermom]

there is a huge difference.

i sell my house and invest the money in a business. it goes broke. I have lost MY money and fulfilled all my obligations to those involved.

in this scenario, they borrowed against the house, agreed to pay back the money and then crawfished the bank, the shareholders of the bank don't care if they invested in a business or spent it on blow and hookers. they defaulted on their commitment.

i actually talked to someone the other day who said they had decided to "just let the house go back to the bank", as though that was the freaking deal to begin with. The bank says "here is some money, go buy a house. if you get tired of making the payments, just move out and we'll take the house back, no hard feelings".

i mean in the context of "ungratefulness"

but i'm not exactly weeping for bank shareholders either. those are the risks they take, if they don't want the house, why are they loaning so much money on it?

[Frozen Sooner]

i actually talked to someone the other day who said they had decided to "just let the house go back to the bank", as though that was the freaking deal to begin with. The bank says "here is some money, go buy a house. if you get tired of making the payments, just move out and we'll take the house back, no hard feelings".

Some days I want to punch people more than others.

Days I talk to people like this are on the "more" side.

I actually had someone tell me "I got in over my head with credit cards so I did the responsible thing and filed bankruptcy."

[Frozen Sooner]

i mean in the context of "ungratefulness"

but i'm not exactly weeping for bank shareholders either. those are the risks they take, if they don't want the house, why are they loaning so much money on it?

Nobody's asking you to "weep" for bank shareholders. It would be nice if you'd recognize that they're the wronged parties when people default on their loans.

[BigRedJed]

Hey, in a world where shoplifiting is apparently a "victimless crime," what do you expect?

[yermom]

banks are about on the same level with me as insurance companies :P

[Frozen Sooner]

I mean that in the plural you, by the way, as in everybody.

People seem to think that banks are just perpetually-replenished money piles.

[yermom]

they aren't? :)

they make money by loaning people money and charging them, some of those people are idiots.

who is dumber? the idiot or the idiot that gives him money and thinks they are getting it back?

[Frozen Sooner]

they aren't? :)

they make money by loaning people money and charging them, some of those people are idiots.

who is dumber? the idiot or the idiot that gives him money and thinks they are getting it back?

Not quite. We make money by borrowing people's money then lending it to other people for more than we borrowed it for.

Who said anything about smart or dumb? Sure, sometimes you trust the wrong person, but that doesn't mean you haven't been wronged.

[yermom]

i just mean there is a risk. they charge a premium for that risk.

on top of that i think a lot of the housing bubble crap is because of banks' silly lending practices

[Frozen Sooner]

Sure there's a risk. There's a risk inherent in any future performance contract, and yes, we do charge a premium for that risk. How does that make it any less wrong when someone breaks their word to us?

"Silly" lending practices-well, there I can agree. I've never been a fan of 0 or neg-am loans, I've always told people that ARMS are generally a stupid idea for residential property, etc. As for the people who overlent on conventional or FHA mortgages-hey, we can only deal with the numbers that we're provided. If our client is willing to buy a place for $350k, then the place is worth $350k by any reasonable definition of value.

[yermom]

i didn't say it wasn't wrong. i just am not weeping for shareholders :)