Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

Predator — Tue, 20 Oct 2009 02:46:19 GMT

POTTER IS A FRIGGIN MORON, LETS SEND HIS BUTT TO IRAQ, YOU VOTED OFR THE IDIOT BUSH, SUPPORT THE TRUTH YOU BIG ***, GO FIGHT YOUR WAR.

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

Predator — Tue, 20 Oct 2009 02:44:32 GMT

Potter1958 is a moron. You retard, YOU REPUBLICAN WERE IN CHARGE FOR THE LAST 8 YEARS, WHAT EXACTLY HAVE YOU EVER DONE FOR THIS COUNTRY. TELL ME I WANNA KNOW. YOU VOTED FOR BUSH BUDDY. WE SHOULD BE SENDING YOUR DUMASS TO MEXICO FOR BEING A COMPLETE IDIOT. IT TRULY IS A BIG WATE OF MY TIME TALKING TO YOU. GO F YOURSELF. THANK US LIBERALS FOR YOUR FREEDOM YOU IDIOT.

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

skip smyth — Thu, 22 Jan 2009 01:12:25 GMT

Methinks the biggest problem is horrendous national debt. TEN TRILLION and growing very rapidly. An individual cannot live in that fashion and neither can a nation The chickens will come home to roost. Bubble must burst and when she does try to be on a distant island.

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

Karoe — Mon, 05 Jan 2009 23:00:29 GMT

Please keep this in perspective. Many people will loose their homes (which never really "belonged" to them in the first place) and seek rental housing, which with their income profile, they should never have left. There is nothing wrong with renting, in fact it has some advantages.

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

Julieanne — Thu, 01 Jan 2009 08:36:20 GMT

It amazes me that, despite a recession (in Australia) huge, luxury mansions are still being advertised in the 'New Homes' section of the Real Estate columns. I wonder who can afford to build these, with so many jobs disappearing. Houses just seem to get bigger and bigger, with more elaborate features and extras.

As a bonus, some offer plasma TV's, security systems etc. It would make more sense to offer rainwater tanks or solar hot water systems, but I guess they aren't as glamorous!

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

AZhiker — Thu, 01 Jan 2009 06:25:55 GMT

So why are cities still giving permits and developers still building houses and office buildings??!!?!??

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

alkalinelife421 — Wed, 31 Dec 2008 12:17:16 GMT

The only point of this option ARMs is if you KNOW for certain that in 2, 3, 5 years *whenever the low interest rate ends* that you will have sold that house and moved into a new one. This way, you save money on interest. But if you can't be 100% certain that you will be selling your house before this low interest rate is up, it's best to get a fixed rate mortgage. And with such an unforeseen drop in housing prices, it's pretty hard to be certain you'd be selling your house when its possible that such a price flux could occur. In fact, it's prolly best to almost always get a fixed rate mortgage (at least when the interest rates where as low as they were a few years ago). You pay a bit more, but you lower your risk significantly.

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

Vince Boyle — Wed, 31 Dec 2008 00:03:32 GMT

Hi Dr Mercola, I am a mortgage broker in Melbourne Australia and we are seeing tidal effects of the US Sub-prime and ARM's as far away as here. Basically people are losing their jobs to US Subsidiaries over here and non bank lenders are closing each week because they cannot raise funds to lend. For me things have slowed dramatically which hurts my beneficiary partners CanTeen (a charity that raises funds for Adolecents with Cancer - every home loan I arrange they benefit) as well as my business. So it's not just the greedy investor or direct home buyer in the US but many more people than you can imagine. I really wonder what the mortgage brokers over there were doing. Over here if we write a bad loan we have clawback where the bank takes back our commission therefore we need to do our due diligence before we recommend a loan to a lender. Maybe the US could learn from a minnow like Australia? rgs Vince from LendaHand Finance (Australia)

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

curious7 — Tue, 30 Dec 2008 17:50:12 GMT

Deregulation, is the catch word here. Kind of like "Trust Us" without any clear evidence that they have indeed earned our trust. Enron, was a wake up call, but we ignored the signs, we believed in the plan put forth by the Reagan, so called revolution. Deregulation, today just as it was in the time of the great Depression. People were cheated, scammed, and robbed, and just as today many people lost their life savings, and investments. Why? Because there was no Cop in the room. Say what you will abouta free market, but what we forget is these individuals running things on Wall Street, are no better than "street thungs" when it comes to greed.

We now set onthe edge of a cliff, because so much of our everyday life depends on Corporate America, run by those whose first god is the almighty dollar. They will do anything, say anything, just to have more dollars than the next person. In the meantime never mind what laws, or how many people are plowed under in that pursuit.

Government oversight is indeed a bad deal, because it too is infected with dollar fever, and look the other wayism, so if not the Government, who?

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

buton — Tue, 30 Dec 2008 16:34:18 GMT

Please read some history or watch Money Masters on video.google.com or Youtube, also Zeitgeist Addendum is good.

Anyhow the BOOM and BUSTS periods are by design

www.xat.org/.../usury.html

www.xat.org/.../worldbank.html

www.xat.org/.../moneyhistory.html

ANDREW JACKSON (1828 - 1836)

When the American congress voted to renew the charter of The Second Bank of The United States, Jackson responded by using his veto. His response gives us an interesting insight. "It is not our own citizens only who are to receive the bounty of our government. More than eight millions of the stock of this bank are held by foreigners... is there no danger to our liberty and independence in a bank that in its nature has so little to bind it to our country?... Controlling our currency, receiving our public moneys, and holding thousands of our citizens in dependence... would be more formidable and dangerous than a military power of the enemy. If government would confine itself to equal protection, and, as Heaven does its rains, shower its favour alike on the high and the low, the rich and the poor, it would be an unqualified blessing. In the act before me there seems to be a wide and unnecessary departure from these just principles."

Andrew Jackson 1 In 1832 Jackson ordered the withdrawal of government deposits from the Second bank and instead had them put into safe banks. The Second Banks head, Nicholas Biddle was quite candid about the power and intention of the bank when he openly threatened to cause a depression if the bank was not re-chartered, we quote. "Nothing but widespread suffering will produce any effect on Congress... Our only safety is in pursuing a steady course of firm restriction - and I have no doubt that such a course will ultimately lead to restoration of the currency and the re-charter of the bank."

Nicholas Biddle 1836 By calling in existing loans and refusing to issue new loans he did cause a massive depression.

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

jacob48 — Tue, 30 Dec 2008 16:11:37 GMT

Anything featured on 60-minutes is propaganda and disinformation.

It came out of the Bilderberg meeting 3-years ago that they were going to crash the American economy and blame it on the sub-prime mortgage market. I began preparing for it then.

The crashing of the global economy has everything to do with 'intention and agenda' to bring about centralized control in the hands of a moneyed fraternity and to see it as anything else is a waste of time.

The complicity of the American people in refusing to 'see' and resist usury, in every sense of the word, is

the problem.

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

ne_plus_ultra_1 — Tue, 30 Dec 2008 14:15:08 GMT

I will say this:

People will always need houses. Pay little heed to doomsayers who predict the end to everything we know and our way of life. Things may get worse but they may not. People will lose houses but most won't. It might be a wild ride but we can hang on.

Everyone KNEW that gas would never go below $3/gallon again. There were radio ads that said things like "We all know gas prices won't go down..."

I saw it for $1.40 yesterday.

Of course everyone KNEW that home prices would only continue going upward. I had little faith in that and succeeded because I sought out good opinions and primarily USED MY OWN JUDGMENT BASED ON MY OBSERVATIONS OF THE WORLD AROUND ME. That seems to be less than common these days.

Even Kiyosaki feels we have a great depression coming. I can buy that. He also states that there will likely be another boom period/bull market after a minor depression before the great one hits. I would like that to be true and as his advisors are ever so much better informed in this area on a broad spectrum than I am, I will hold out my main hope for this.

As a backup strategy I am covering my bases with purchase of some large acreage with grazing land for cattle so if/when people are having trouble finding money for food, me and mine can sit home relaxing after eating a nice thick grass-fed steak. Maybe we won't have cheap gas, maybe we'll run my diesel's on WVO or WMO. Maybe not new clothes. But definitely paid of property and a food source.

My cousin has a similar idea but is mainly focusing on crops I believe.

Anyway, there's a long long long way to fall before it comes to that point.

And as my last thought on this very long post, this idiot who they interviewed as "one of the six guys that predicted this downfall" (or whatever), this pessimistic idiot was saying all along that this would happen, right? He was one of SIX? BULL PUCKEY! There were more people capable of observation who decided not to invest at that time.

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

JoeS — Tue, 30 Dec 2008 12:37:55 GMT

This article either makes no sense and is why I don't feel sorry for these people or responsible in any way. She sounds young with a daughter going to college etc, she has all these bills and unpaid debt and she is retired ?!?!?!. Well enjoy your retirement, just don't expect my tax dollars to pay for it.

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

finallyfree — Tue, 30 Dec 2008 10:07:10 GMT

You nailed it Note Taking Nerd! !

Something for nothing will never bring you freedom.

Personal responsibility is the only solution, which makes gratification possible. You are the wise one!

re: Shocking Surprises Still in Store in the U.S. Mortgage Meltdown

LittleWhiteDove — Tue, 30 Dec 2008 08:05:04 GMT

I don't understand why everyone is so angry at the government, does anyone expect them to do anything different than what they've been doing? Our founding fathers built into our government a peaceful revolution, for 8 years, nobody votes for an incumbent, the "good ole' boys" club will be gone. We make sure they know that they are our "representatives", not our leaders (not one of them is my "leader"). Then we get them to outlaw lobbying, legalized payoffs. At this point all issues can be dealt with fairly and equitably with most special interests not involved.