A house is to live in, not for profit. This is the Buddhist way of life. We can learn to have inner peace once we understand that a house is a shelter that keeps us warm, not of a monetary note to be selling back and forth.
The lenders, after making the loans, turns around and knowing the loan is going to be defaulted because the rates will reset, sells it to another business who is now holding the bag. This is the lenders fault. The lenders need to be held responsible.
I don,t know if anyone remember but back after World War 2; I have often heard from my dad that to get a house loan...the prospective buyer had to meet with the loan committee >> got to know the buyer >> personally checked on there employment and lifestyle. Evereything squeaky clean; Mortagage granted. Oh; the bank / instittuion granting the loan WAS THE only place you deal with for the life of the loan. These days I know are long gone; wish it was back Mess wouldn,t be so bad.
here in NH major banks are not providing mortgage loans even to those who can afford it. real estate broker i know stopped taking homes for sale because no person can get a mortgage. 3 houses on my street were up for sale but could not sell, not because there were no buyers but those potential buyers coundn't get mortgages. now taken off the market and owners are renting them, it's going to get worse!
McMansions will continue to depreciate, baby-boomers must sell to retire! Who will afford the energy costs in 5 years, let alone 15 if Global warming is the calamity that some claim?
These fucking houses were way too high to begin with. And when this is all over...they will STILL be too high! The average asshole simply CANNOT afford a fucking house in todays job market!!! Go alt-a, give REAL people a break.
It all goes into the dumpster and won't be worth anything - no jobs, no ability to qualify for a mortgage => more houses on the market . . . etc. . . . let it collapse as it should have long, long ago.
same situation....get an attorney..to much corruption in the paper system and mers...fight these jags. F@#k Chase and all the other banks.. They make way more on foreclosing then modification. thanks to the bailout to AIG and big banks.The Gov allowed this because all there buds (big banks ) were making huge money...and now with the biggest financial heist in American history they have hedged there bets and made money on the bailouts. For the people by the people.nope. For the Gov. by big bus.
We cannot get this economy going until the banksters allow real estate to deflate at least 60% down to real value so that people can afford homes. Lowering interest rates does nothing if homes are overpriced. Homes must drop another 60% and this will ignite buying and stimulate industries tied to the real estate market. If we don't allow Deflation, nobody will spend. Everyone will wait for prices to drop. We need to let prices fall now!
Yes, it’s that book *Kangaroo Millionaire* Marc Hrisko one of Robert Kiyosaki's speakers wrote it's on his website KangarooMillionaire. com Everyone’s talking about what a great book it is. Anyway, I hope this helps you and you enjoy reading it as much as I did! It's packed full of great tips and sound advice!
Wall Street is only 50% responsible. What about the lying public, or uneducated public that didn't understand the product, or even the public that refused to think ahead when it came to their finances? THEY are JUST AS RESPONSIBLE! Just because it's offered doesn't mean you should TAKE it. Would you jump off a bridge just because someone made the bridge accessible? The general, borrowering public MUST take responsibility and now they are having to pay for it as well.
No, Wall Street is 100% responsible. don't lie to me and claim that somehow a single mom with limited english managed to fool a loan officer that has an Masters in Business Administration into getting her a loan.
You are very optimistic about the education level of mortgage loan officers. And yes, if you create a child part of your financial planning BETTER include how you intend to feed, clothe and house that child. If you are not educated enough to understand what the Note says, what the payment will do and how MUCH you can afford, you had better not be signing any papers. That single mother is equally responsible. If she doesn't have the education GET ONE BEFORE having kids.
@ready4revolutionUS In the process my friend. check out my channel if you get some time. I'm going to be posting a lot more videos about my investments here in the near future.
A house is to live in, not for profit. This is the Buddhist way of life. We can learn to have inner peace once we understand that a house is a shelter that keeps us warm, not of a monetary note to be selling back and forth.
tnguyen318 10 months ago
The lenders, after making the loans, turns around and knowing the loan is going to be defaulted because the rates will reset, sells it to another business who is now holding the bag. This is the lenders fault. The lenders need to be held responsible.
KurbyDurby 11 months ago
I don,t know if anyone remember but back after World War 2; I have often heard from my dad that to get a house loan...the prospective buyer had to meet with the loan committee >> got to know the buyer >> personally checked on there employment and lifestyle. Evereything squeaky clean; Mortagage granted. Oh; the bank / instittuion granting the loan WAS THE only place you deal with for the life of the loan. These days I know are long gone; wish it was back Mess wouldn,t be so bad.
albc1964 1 year ago
The RENT is TOO DAMN HIGH!
utube2603 1 year ago
I just had to leave a comment, NICE. Keep the vids coming!
TheREIMaverick 1 year ago
i'm surprised this is being talked about on 60 minutes.
wunderbeast 1 year ago
In 5 years, there won't be economy left, let alone worrying about once over-priced shacks which aren't worth even a hill of beans.
theroilsoil 1 year ago
@theroilsoil Right On Target !!
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criseldaprangehkg 1 year ago
here in NH major banks are not providing mortgage loans even to those who can afford it. real estate broker i know stopped taking homes for sale because no person can get a mortgage. 3 houses on my street were up for sale but could not sell, not because there were no buyers but those potential buyers coundn't get mortgages. now taken off the market and owners are renting them, it's going to get worse!
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BlancaFranky 1 year ago
McMansions will continue to depreciate, baby-boomers must sell to retire! Who will afford the energy costs in 5 years, let alone 15 if Global warming is the calamity that some claim?
kree8ions 1 year ago
These fucking houses were way too high to begin with. And when this is all over...they will STILL be too high! The average asshole simply CANNOT afford a fucking house in todays job market!!! Go alt-a, give REAL people a break.
chefshitpiece 1 year ago
@chefshitpiece
It all goes into the dumpster and won't be worth anything - no jobs, no ability to qualify for a mortgage => more houses on the market . . . etc. . . . let it collapse as it should have long, long ago.
theroilsoil 1 year ago
This has been flagged as spam show
same situation....get an attorney..to much corruption in the paper system and mers...fight these jags. F@#k Chase and all the other banks.. They make way more on foreclosing then modification. thanks to the bailout to AIG and big banks.The Gov allowed this because all there buds (big banks ) were making huge money...and now with the biggest financial heist in American history they have hedged there bets and made money on the bailouts. For the people by the people.nope. For the Gov. by big bus.
rbrouwer5 1 year ago
This has been flagged as spam show
We cannot get this economy going until the banksters allow real estate to deflate at least 60% down to real value so that people can afford homes. Lowering interest rates does nothing if homes are overpriced. Homes must drop another 60% and this will ignite buying and stimulate industries tied to the real estate market. If we don't allow Deflation, nobody will spend. Everyone will wait for prices to drop. We need to let prices fall now!
drkevincampbell 1 year ago
Yes, it’s that book *Kangaroo Millionaire* Marc Hrisko one of Robert Kiyosaki's speakers wrote it's on his website KangarooMillionaire. com Everyone’s talking about what a great book it is. Anyway, I hope this helps you and you enjoy reading it as much as I did! It's packed full of great tips and sound advice!
moneytalkers2009 1 year ago
Its called The New world Order you flouride drinking potatoes. What, you think WAR is only on a battlefield?
thorntongifts 1 year ago
Wall Street is only 50% responsible. What about the lying public, or uneducated public that didn't understand the product, or even the public that refused to think ahead when it came to their finances? THEY are JUST AS RESPONSIBLE! Just because it's offered doesn't mean you should TAKE it. Would you jump off a bridge just because someone made the bridge accessible? The general, borrowering public MUST take responsibility and now they are having to pay for it as well.
gregg28801 1 year ago
@gregg28801
No, Wall Street is 100% responsible. don't lie to me and claim that somehow a single mom with limited english managed to fool a loan officer that has an Masters in Business Administration into getting her a loan.
monkeyman1140 1 year ago
@monkeyman1140
You are very optimistic about the education level of mortgage loan officers. And yes, if you create a child part of your financial planning BETTER include how you intend to feed, clothe and house that child. If you are not educated enough to understand what the Note says, what the payment will do and how MUCH you can afford, you had better not be signing any papers. That single mother is equally responsible. If she doesn't have the education GET ONE BEFORE having kids.
gregg28801 1 year ago
Pretty scary stuff!
Donuvan 1 year ago
@Donuvan Brace yourself. The second ripple is coming, this should be headline news... retirements, 401k's and mutual funds are going to get crushed.
ready4revolutionUS 1 year ago
@ready4revolutionUS In the process my friend. check out my channel if you get some time. I'm going to be posting a lot more videos about my investments here in the near future.
Donuvan 1 year ago
And yet Wall Street is resisting Glass-Steagall
monkeyman1140 1 year ago