JudasPriest.com

Topics List	Inbox	Friends	Search	Admin	Information
You are not logged in.

Metal Blah Blah Blah

This Topic was created by [Demonizer13]	Messages per page: 20 50 100 Message display order: [Newest first] Oldest first Go to Parent Topic
anything and everything

You do not have enough Respect Points to post in this topic.

[Deep Freeze] Wednesday, March 25, 2009 8:03:08 AM

HAAAHAHAHAHHAA!!!!! Jewish??!?! No. I am Norweigian!!! And my travels are strictly limited to my "acid trips"...... HAHAHAHAHAHAHAHAHAHAHAAA!!!!!!!!
[Show/Hide Quoted Message] (Quoting Message by Darth_Painkiller_0870 from Wednesday, March 25, 2009 8:00:30 AM)

[_strat_] Wednesday, March 25, 2009 8:02:57 AM

Lol... Dont give me too much credti. I just went to Google > pictures and typed "fail"... And there it was!

Seriously... Internet nerds are the masterrace...
[Show/Hide Quoted Message] (Quoting Message by Darth_Painkiller_0870 from Wednesday, March 25, 2009 8:00:30 AM)

[Deep Freeze] Wednesday, March 25, 2009 8:01:25 AM

HAA!!!!!!!!!!!!!!!!! You want to talk about interest rates...???? HAAAAAAAHAHAHAHAHAHAHAHAHAAAAAAA!!!!!!!!!!!!!!!!
[Show/Hide Quoted Message] (Quoting Message by _strat_ from Wednesday, March 25, 2009 7:59:16 AM)

[Return_of_Darth_Painkiller_0870] Wednesday, March 25, 2009 8:00:30 AM

ROFLMFAO!!!!!!!!!!!! That is the single funniest thing I've read all month! OMG...strat my friend, you made my day!

I bet that either Freeze is Jewish, or has picked up some Yiddish in his worldly travels.
[Show/Hide Quoted Message] (Quoting Message by _strat_ from Wednesday, March 25, 2009 7:55:24 AM)

[_strat_] Wednesday, March 25, 2009 7:59:16 AM

Youre telling me? I have many talents, and Im very modest too. Infact, you could say that modesty is just one of my many traits.

[Show/Hide Quoted Message] (Quoting Message by Deep Freeze from Wednesday, March 25, 2009 7:58:00 AM)

[Deep Freeze] Wednesday, March 25, 2009 7:58:00 AM

Ah, my friend! I am a man of many talents!
[Show/Hide Quoted Message] (Quoting Message by _strat_ from Wednesday, March 25, 2009 7:55:24 AM)

[_strat_] Wednesday, March 25, 2009 7:55:24 AM

Nah... You dont have to be like him (although you do a very good impression of him - talk to him, learn his language!). Ive just posted a pic of Darth Vader with the lines "I find your lack of win disturbing - may the fail be with you". That was enough to set him off.

Since when do you speak Hebrew?
[Show/Hide Quoted Message] (Quoting Message by Deep Freeze from Wednesday, March 25, 2009 7:40:07 AM)

[Deep Freeze] Wednesday, March 25, 2009 7:40:07 AM

HA!!!!!!!!!!!!!!!!!!!!!! It is a Yiddish (Jewish) word. It means "nothing." HAHAHAHAHAAA!!!!!!! I had NO idea that I would need to go to such great lengths to get a "rise" out of that idiot. I do not wish to engage him that badly! I really do not think he will be back. Justin seems to have made his point quite clear!
[Show/Hide Quoted Message] (Quoting Message by _strat_ from Wednesday, March 25, 2009 7:32:10 AM)

[_strat_] Wednesday, March 25, 2009 7:33:10 AM

Wait.... Are we still talking about banks and loans, or what?
[Show/Hide Quoted Message] (Quoting Message by Head banger from Wednesday, March 25, 2009 7:23:50 AM)

Head banger wrote:

I meant others as in family and friends. why would they give it to people outside that group.

_strat_ wrote:

Pass it down... They lend it down, to make more money. Its not solidarity.

Head banger wrote:

is it moral to expect part of the world to suport people in a new lifestyle that they were acustomed too because they had introduced new money and toys?

the system of interest is as old as time itself. you borow, you give back more than you took. people create wealth, and pass it down to others.

_strat_ wrote:

Strat is back!

Well, if I read this and the post about the "bundled up" loans... Youre right, I didnt understand it, and frankly, I dont very well even now. BUT... The fact is still that most wealth is held by the minority of people. They loan it out to the rest of us, on their terms. They have created a system that is very complicated, and yet you have to participate in it, if you want to buy a home, buy a new car... Most people have to, anyway. So, if we are talking about the blame - guess who I put it on.

Then there is the whole international thing. We (and Im talking about most of the "rest of the world" as you would put it) have certainly NOT created this crisis - this crisis came to us from the west. Now, because Americans and Western Europeans cannot afford to buy crap, we get less production, we get layoffs... We get as much shit as we can, before it starts to seriously affect you. The problem is that its the western companies that came here with work in the first place, created a dependency for it, and are now withdrawing it.

Now, I guess its down to moralising and "the flowery rights and wrongs" again... But I dont think there ever was a better time for it than now.

Yup. That was my "final" word on the subject... For now, anyway.

		Deep Freeze wrote:

		Good Day to you all!!! Very quiet here, I see. Hopefully, we are all studying about mortgages and interest!! HA!!!!!!! Where the hell is strat??? OK, my "final" words on this subject; This is not a matter of "simple" interest. This is about amortized mortgage interest. An amortization table will show you how direct-reduction works. When you initially take a mortgage loan, your monthly payment is mostly interest and a little principal. In the first seven years or so, you pay only about 10% of the original balance. The rest is interest payment. It takes roughly 20 years to pay about HALF your balance! Of course, the amount of the principal paid does increase year after year and, in the last five years or so, you get a reversal and are paying mostly principal and little interest. Keep in mind that, no matter how small the interest payment, you still are paying at the same interest rate. 6% is always 6% throughout the life of your loan. The interest you are paying is on the amount that is outstanding in any given year. The dollar amount of interest you pay goes down because the balance (principal) goes down. The interest rate is still constant. There are ways to get around the dollar amount paid. It is known as acceleration. Most people do this by paying a half-payment every two weeks instead of once a month. (Bi Weekly) this reduces the dollar amount of interest you pay IF you have a loan that allows it. THERE is ANOTHER story!! Pre-payment penalties! Usually, you are not allowed to pay more than 20% of the outstanding balance in any given year because banks WANT that *interest dollar*! There is more but I think I have made my point. I have done this for TWENTY freakin years. It is not a simple formula. MOST people do not understand it and they pay far more than they have to as a result. Class dismissed.

[_strat_] Wednesday, March 25, 2009 7:32:10 AM

Lol... No, no, no... I doesnt work that way!!! Lmao... You have to PM him first! Push his buttons!

Oh, and I know I will probably regret asking this, but what is bubkus?
[Show/Hide Quoted Message] (Quoting Message by Deep Freeze from Wednesday, March 25, 2009 7:26:47 AM)

[Deep Freeze] Wednesday, March 25, 2009 7:26:47 AM

He actually PM'd you, strat???? You're kidding? After I flamed him or before I did so?? You know, that is NOT fair! I go over there, post as nasty a set of comments as I am capable, call him everything I can think of, do everything but bring his mother into it and I get NOTHING! ZIP! NADA! BUBKUS!!! I believe I have wasted a great rant!!! HA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Head banger] Wednesday, March 25, 2009 7:23:50 AM

I meant others as in family and friends. why would they give it to people outside that group.
[Show/Hide Quoted Message] (Quoting Message by _strat_ from Wednesday, March 25, 2009 4:42:38 AM)

_strat_ wrote:

Pass it down... They lend it down, to make more money. Its not solidarity.

Head banger wrote:

_strat_ wrote:

		Deep Freeze wrote:

		Good Day to you all!!! Very quiet here, I see. Hopefully, we are all studying about mortgages and interest!! HA!!!!!!! Where the hell is strat??? OK, my "final" words on this subject; This is not a matter of "simple" interest. This is about amortized mortgage interest. An amortization table will show you how direct-reduction works. When you initially take a mortgage loan, your monthly payment is mostly interest and a little principal. In the first seven years or so, you pay only about 10% of the original balance. The rest is interest payment. It takes roughly 20 years to pay about HALF your balance! Of course, the amount of the principal paid does increase year after year and, in the last five years or so, you get a reversal and are paying mostly principal and little interest. Keep in mind that, no matter how small the interest payment, you still are paying at the same interest rate. 6% is always 6% throughout the life of your loan. The interest you are paying is on the amount that is outstanding in any given year. The dollar amount of interest you pay goes down because the balance (principal) goes down. The interest rate is still constant. There are ways to get around the dollar amount paid. It is known as acceleration. Most people do this by paying a half-payment every two weeks instead of once a month. (Bi Weekly) this reduces the dollar amount of interest you pay IF you have a loan that allows it. THERE is ANOTHER story!! Pre-payment penalties! Usually, you are not allowed to pay more than 20% of the outstanding balance in any given year because banks WANT that *interest dollar*! There is more but I think I have made my point. I have done this for TWENTY freakin years. It is not a simple formula. MOST people do not understand it and they pay far more than they have to as a result. Class dismissed.

[_strat_] Wednesday, March 25, 2009 7:07:38 AM

Yup. I heard a good phrase for it once: "the engine is fine... Theres just nobody behind the wheel."
I so hope hes reading all this...
[Show/Hide Quoted Message] (Quoting Message by Darth_Painkiller_0870 from Wednesday, March 25, 2009 6:55:45 AM)

[Return_of_Darth_Painkiller_0870] Wednesday, March 25, 2009 6:55:45 AM

Oh, he can read...just not comprehend. It's like being given a brain but no drive to put it to use.
[Show/Hide Quoted Message] (Quoting Message by _strat_ from Wednesday, March 25, 2009 6:03:40 AM)

[_strat_] Wednesday, March 25, 2009 6:03:40 AM

Youre giving him too much credit - as if he can read.

He is great at threatening. He already PMd me something about "ending my world", after Ive sent him a "may the fail be with you"...

Yup... Much fail I sense in him...
[Show/Hide Quoted Message] (Quoting Message by Darth_Painkiller_0870 from Wednesday, March 25, 2009 5:54:13 AM)

[Return_of_Darth_Painkiller_0870] Wednesday, March 25, 2009 5:54:13 AM

LOL...I do give him credit for bringing his dumbass back for more. Stupid is as stupid does I guess. I hope that Forrest Gump reject reads this post, so he can see that I'm not threatened by him or his dumbass antics.
[Show/Hide Quoted Message] (Quoting Message by _strat_ from Wednesday, March 25, 2009 5:48:34 AM)

[_strat_] Wednesday, March 25, 2009 5:48:34 AM

Lol... Ive seen him. Well, he is persistent, to say the least.
[Show/Hide Quoted Message] (Quoting Message by Darth_Painkiller_0870 from Wednesday, March 25, 2009 5:34:01 AM)

[Return_of_Darth_Painkiller_0870] Wednesday, March 25, 2009 5:34:01 AM

Good Morning all!

I have to say that (having never oned or bought a house), I know only a small fraction of what you're saying Freeze about mortgages (and I do mean a small fraction).

MG, for goodness sakes woman!   It would be FARRRRRRRRRRRR simpler and less costly to download and use Turbo Tax then to take to H & R Error.

And I will continue to say that Obama is an amateur playing with a bunch of professionals and he's not faring well.   But that's a subject for the politics thread.

Also, has anyone gone over to the newbie area recently? It seems an old nemisis has returned. PM me for details.

[ron h] Wednesday, March 25, 2009 5:23:12 AM

Hi strat...off to work...have a good one!!!

[_strat_] Wednesday, March 25, 2009 4:43:10 AM

Good late morning! Where is everyone?

[_strat_] Wednesday, March 25, 2009 4:42:38 AM

Pass it down... They lend it down, to make more money. Its not solidarity.
[Show/Hide Quoted Message] (Quoting Message by Head banger from Tuesday, March 24, 2009 5:47:20 PM)

Head banger wrote:

_strat_ wrote:

		Deep Freeze wrote:

		Good Day to you all!!! Very quiet here, I see. Hopefully, we are all studying about mortgages and interest!! HA!!!!!!! Where the hell is strat??? OK, my "final" words on this subject; This is not a matter of "simple" interest. This is about amortized mortgage interest. An amortization table will show you how direct-reduction works. When you initially take a mortgage loan, your monthly payment is mostly interest and a little principal. In the first seven years or so, you pay only about 10% of the original balance. The rest is interest payment. It takes roughly 20 years to pay about HALF your balance! Of course, the amount of the principal paid does increase year after year and, in the last five years or so, you get a reversal and are paying mostly principal and little interest. Keep in mind that, no matter how small the interest payment, you still are paying at the same interest rate. 6% is always 6% throughout the life of your loan. The interest you are paying is on the amount that is outstanding in any given year. The dollar amount of interest you pay goes down because the balance (principal) goes down. The interest rate is still constant. There are ways to get around the dollar amount paid. It is known as acceleration. Most people do this by paying a half-payment every two weeks instead of once a month. (Bi Weekly) this reduces the dollar amount of interest you pay IF you have a loan that allows it. THERE is ANOTHER story!! Pre-payment penalties! Usually, you are not allowed to pay more than 20% of the outstanding balance in any given year because banks WANT that *interest dollar*! There is more but I think I have made my point. I have done this for TWENTY freakin years. It is not a simple formula. MOST people do not understand it and they pay far more than they have to as a result. Class dismissed.

[ron h] Wednesday, March 25, 2009 4:13:22 AM

good night Becks

[Show/Hide Quoted Message] (Quoting Message by Becks from Wednesday, March 25, 2009 4:09:43 AM)

[Becks] Wednesday, March 25, 2009 4:09:43 AM

LOL JD

Hiya Ron, sounds like bizarre weather you have there.
I'm off to bed, feeling pretty knackered LOL. Night all

[Show/Hide Quoted Message] (Quoting Message by J.D. DIAMOND from Wednesday, March 25, 2009 4:08:27 AM)

[J.D. DIAMOND] Wednesday, March 25, 2009 4:08:27 AM

I'm doing fine thanks,just listening to "Leather Rebel" ....and laughing because a couple of years ago there was a member named "Solar Angel" and he loved this song and I destroyed him when I posted a picture of "Barney Rubble"(cartoon character from The Flintstones) and told him to sing this in place of Leather Rebel"!! lol! From that point on,all he thought of when the chorus came was "Barney Rubble"....Lightning In The Dark"!!! lol!

[Show/Hide Quoted Message] (Quoting Message by Becks from Wednesday, March 25, 2009 4:02:03 AM)
Edited at: Wednesday, March 25, 2009 4:09:10 AM

[ron h] Wednesday, March 25, 2009 4:07:19 AM

Hi Becks and JD...everythings fine here...just can't figure out if it's gonna stay winter or if we're gonna actually have a spring...one day it's 70, the next it's 35 out, strange...
Edited at: Wednesday, March 25, 2009 4:08:39 AM

[Becks] Wednesday, March 25, 2009 4:02:03 AM

Heya JD! How are ya?
[Show/Hide Quoted Message] (Quoting Message by J.D. DIAMOND from Wednesday, March 25, 2009 4:00:20 AM)

[J.D. DIAMOND] Wednesday, March 25, 2009 4:00:20 AM

Good evening Becks!
[Show/Hide Quoted Message] (Quoting Message by Becks from Wednesday, March 25, 2009 3:59:33 AM)

[Becks] Wednesday, March 25, 2009 3:59:33 AM

Good morning! Good evening from here! Hope everyone has a great day

[J.D. DIAMOND] Wednesday, March 25, 2009 3:51:35 AM

Good morning ron,hope all is well!
[Show/Hide Quoted Message] (Quoting Message by ronhartsell from Wednesday, March 25, 2009 3:48:58 AM)

[ron h] Wednesday, March 25, 2009 3:48:58 AM

Good morning my Priest brotheren...it's 'hump' day, and hopefully a painless one at that...

[Deep Freeze] Tuesday, March 24, 2009 5:57:36 PM

Umm.. I would suggest an airplane................... HA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
[Show/Hide Quoted Message] (Quoting Message by DelivererofEvil from Tuesday, March 24, 2009 5:42:16 PM)

[Head banger] Tuesday, March 24, 2009 5:47:20 PM

_strat_ wrote:

		Deep Freeze wrote:

		Good Day to you all!!! Very quiet here, I see. Hopefully, we are all studying about mortgages and interest!! HA!!!!!!! Where the hell is strat??? OK, my "final" words on this subject; This is not a matter of "simple" interest. This is about amortized mortgage interest. An amortization table will show you how direct-reduction works. When you initially take a mortgage loan, your monthly payment is mostly interest and a little principal. In the first seven years or so, you pay only about 10% of the original balance. The rest is interest payment. It takes roughly 20 years to pay about HALF your balance! Of course, the amount of the principal paid does increase year after year and, in the last five years or so, you get a reversal and are paying mostly principal and little interest. Keep in mind that, no matter how small the interest payment, you still are paying at the same interest rate. 6% is always 6% throughout the life of your loan. The interest you are paying is on the amount that is outstanding in any given year. The dollar amount of interest you pay goes down because the balance (principal) goes down. The interest rate is still constant. There are ways to get around the dollar amount paid. It is known as acceleration. Most people do this by paying a half-payment every two weeks instead of once a month. (Bi Weekly) this reduces the dollar amount of interest you pay IF you have a loan that allows it. THERE is ANOTHER story!! Pre-payment penalties! Usually, you are not allowed to pay more than 20% of the outstanding balance in any given year because banks WANT that *interest dollar*! There is more but I think I have made my point. I have done this for TWENTY freakin years. It is not a simple formula. MOST people do not understand it and they pay far more than they have to as a result. Class dismissed.

[DelivererofEvil] Tuesday, March 24, 2009 5:42:16 PM

Evening, fellow Defenders!

Does anyone know the best way to fly into the USA? As in, the cheapest american airlines that travel the Atlantic, and I don't mean coming as a stowaway on a freighter

[_strat_] Tuesday, March 24, 2009 5:29:10 PM

[Becks] Tuesday, March 24, 2009 3:24:37 PM

LOL yeah they're both fine, very grateful for being rescued LOL wouldn't leave me alone when I was trying to read my book haha. Far out that'd be crazy to have your cat get stuck in a recliner! Thankfully you got him out, lol!
[Show/Hide Quoted Message] (Quoting Message by MG_Metalgoddess from Tuesday, March 24, 2009 3:17:30 PM)

MG_Metalgoddess wrote:

Yes they take taxes out every payday, but its the income ratio.. and I only lived there half the year, plus I sold my house ect... pain in the ass.. LOL

Good grief becks.. at least the kitties are okay?? years ago one of mine crawled in the recliner chair.. and was stuck. poor thing . tore the dang chair aprt to get him out...

(Quoting Message by Becks from Tuesday, March 24, 2009 3:10:33 PM)

Becks wrote:

Morning everyone!

Interesting night here cos I had to rescue one of my cats off the roof of the house, then the other cat got himself shit in the garage when I put the ladder away, so I had to venture out in the cold again to get him, LOL silly cats.
Wow the American tax system sounds complicated! I've never really understood tax returns etc, all I know is here we have a system called PAYE, Pay As You Earn, so my tax gets taken straight out of my gross income.

MG_Metalgoddess wrote:

Yeah I agree.. I wanted everything to be legal.. So I took it to H&R block here... Since I had to file with 2 countries.

But I went to get them last week to mail into the USA.. and they were wrong... She screwed up a bunch of stuff. 400.00 dollars later and 9-11 errors I found after looking it all over.. And showed it to them they have to re-do them.
Not to cost me anything.. But the woman says oh I guess I shoul have looked it all over before I had you sign..
Well DUH.. isnt that what Iam paying you for..

I had a 60,000 income increase from the sale of a house.. I knew I would owe some money on ect... Which I planned for. And she insited I was getting 1,600.00 backfrom the state of Montana.. I actually owe the 1,600.00 dollars..

Hopefully its all corrected ect.. and I can pick them up this week

Cluster F*ck.. as Usual.....

I just have to laugh.. I mean Can anything o right?? lol Thank god for humor otherwise I would need to be heavily sedated.

MG~

(Quoting Message by Deep Freeze from Tuesday, March 24, 2009 2:54:10 PM)

Deep Freeze wrote:

Do it yourself?? NEVER! Even I have an accountant, my dear. I do not operate on myself either! I have a doctor for that. I am the kind of person that leaves these things to the professionals.

MG_Metalgoddess wrote:

Class dismissed.. thats cute

I understand... where you are coming from, I must say Iam curious to see this program on the credit card uproar.

Make not to one-self.. : have calculator out and ready!! LOL

I mean just listening to them explaine that mortgage mess.. I wonder how many people actually were able to follow what the reporter was talking about in their explaining the whole fiasco.

Well another day closer to Friday,.,, Hopefully I dont find any more errors, when the top account re-does my american taxes for last year.. I prob pissed them off by pointing out the errors, and mis calculations.. but hey.. I dont want to pay penalties. they had me recieving money .. when I actually owed... I want to get it done right and not have to worry about it, or be audited.. ( which is why I went to a proff to get them done.) Vrs- doing them myself.. I thought of all the legality ,, Good Grief.. LOL

All I can do Is laugh I guess.. where do you go ?? LOL

Hugs MG~

		Deep Freeze wrote:

		Good Day to you all!!! Very quiet here, I see. Hopefully, we are all studying about mortgages and interest!! HA!!!!!!! Where the hell is strat??? OK, my "final" words on this subject; This is not a matter of "simple" interest. This is about amortized mortgage interest. An amortization table will show you how direct-reduction works. When you initially take a mortgage loan, your monthly payment is mostly interest and a little principal. In the first seven years or so, you pay only about 10% of the original balance. The rest is interest payment. It takes roughly 20 years to pay about HALF your balance! Of course, the amount of the principal paid does increase year after year and, in the last five years or so, you get a reversal and are paying mostly principal and little interest. Keep in mind that, no matter how small the interest payment, you still are paying at the same interest rate. 6% is always 6% throughout the life of your loan. The interest you are paying is on the amount that is outstanding in any given year. The dollar amount of interest you pay goes down because the balance (principal) goes down. The interest rate is still constant. There are ways to get around the dollar amount paid. It is known as acceleration. Most people do this by paying a half-payment every two weeks instead of once a month. (Bi Weekly) this reduces the dollar amount of interest you pay IF you have a loan that allows it. THERE is ANOTHER story!! Pre-payment penalties! Usually, you are not allowed to pay more than 20% of the outstanding balance in any given year because banks WANT that *interest dollar*! There is more but I think I have made my point. I have done this for TWENTY freakin years. It is not a simple formula. MOST people do not understand it and they pay far more than they have to as a result. Class dismissed.

Edited at: Tuesday, March 24, 2009 3:03:14 PM

Edited at: Tuesday, March 24, 2009 3:18:08 PM

[~ MG_Metalgoddess~] Tuesday, March 24, 2009 3:17:30 PM

Yes they take taxes out every payday, but its the income ratio.. and I only lived there half the year, plus I sold my house ect... pain in the ass.. LOL

Good grief becks.. at least the kitties are okay?? years ago one of mine crawled in the recliner chair.. and was stuck. poor thing . tore the dang chair aprt to get him out...

[Show/Hide Quoted Message] (Quoting Message by Becks from Tuesday, March 24, 2009 3:10:33 PM)

Becks wrote:

Morning everyone!

MG_Metalgoddess wrote:

Yeah I agree.. I wanted everything to be legal.. So I took it to H&R block here... Since I had to file with 2 countries.

(Quoting Message by Deep Freeze from Tuesday, March 24, 2009 2:54:10 PM)

Deep Freeze wrote:

Do it yourself?? NEVER! Even I have an accountant, my dear. I do not operate on myself either! I have a doctor for that. I am the kind of person that leaves these things to the professionals.

MG_Metalgoddess wrote:

All I can do Is laugh I guess.. where do you go ?? LOL

Hugs MG~

		Deep Freeze wrote:

		Good Day to you all!!! Very quiet here, I see. Hopefully, we are all studying about mortgages and interest!! HA!!!!!!! Where the hell is strat??? OK, my "final" words on this subject; This is not a matter of "simple" interest. This is about amortized mortgage interest. An amortization table will show you how direct-reduction works. When you initially take a mortgage loan, your monthly payment is mostly interest and a little principal. In the first seven years or so, you pay only about 10% of the original balance. The rest is interest payment. It takes roughly 20 years to pay about HALF your balance! Of course, the amount of the principal paid does increase year after year and, in the last five years or so, you get a reversal and are paying mostly principal and little interest. Keep in mind that, no matter how small the interest payment, you still are paying at the same interest rate. 6% is always 6% throughout the life of your loan. The interest you are paying is on the amount that is outstanding in any given year. The dollar amount of interest you pay goes down because the balance (principal) goes down. The interest rate is still constant. There are ways to get around the dollar amount paid. It is known as acceleration. Most people do this by paying a half-payment every two weeks instead of once a month. (Bi Weekly) this reduces the dollar amount of interest you pay IF you have a loan that allows it. THERE is ANOTHER story!! Pre-payment penalties! Usually, you are not allowed to pay more than 20% of the outstanding balance in any given year because banks WANT that *interest dollar*! There is more but I think I have made my point. I have done this for TWENTY freakin years. It is not a simple formula. MOST people do not understand it and they pay far more than they have to as a result. Class dismissed.

Edited at: Tuesday, March 24, 2009 3:03:14 PM

Edited at: Tuesday, March 24, 2009 3:18:08 PM

[Becks] Tuesday, March 24, 2009 3:10:33 PM

Morning everyone!

Interesting night here cos I had to rescue one of my cats off the roof of the house, then the other cat got himself shut in the garage when I put the ladder away, so I had to venture out in the cold again to get him, LOL silly cats.
Wow the American tax system sounds complicated! I've never really understood tax returns etc, all I know is here we have a system called PAYE, Pay As You Earn, so my tax gets taken straight out of my gross income. [Show/Hide Quoted Message] (Quoting Message by MG_Metalgoddess from Tuesday, March 24, 2009 3:01:48 PM)

MG_Metalgoddess wrote:

Yeah I agree.. I wanted everything to be legal.. So I took it to H&R block here... Since I had to file with 2 countries.

(Quoting Message by Deep Freeze from Tuesday, March 24, 2009 2:54:10 PM)

Deep Freeze wrote:

Do it yourself?? NEVER! Even I have an accountant, my dear. I do not operate on myself either! I have a doctor for that. I am the kind of person that leaves these things to the professionals.

MG_Metalgoddess wrote:

All I can do Is laugh I guess.. where do you go ?? LOL

Hugs MG~

		Deep Freeze wrote:

		Good Day to you all!!! Very quiet here, I see. Hopefully, we are all studying about mortgages and interest!! HA!!!!!!! Where the hell is strat??? OK, my "final" words on this subject; This is not a matter of "simple" interest. This is about amortized mortgage interest. An amortization table will show you how direct-reduction works. When you initially take a mortgage loan, your monthly payment is mostly interest and a little principal. In the first seven years or so, you pay only about 10% of the original balance. The rest is interest payment. It takes roughly 20 years to pay about HALF your balance! Of course, the amount of the principal paid does increase year after year and, in the last five years or so, you get a reversal and are paying mostly principal and little interest. Keep in mind that, no matter how small the interest payment, you still are paying at the same interest rate. 6% is always 6% throughout the life of your loan. The interest you are paying is on the amount that is outstanding in any given year. The dollar amount of interest you pay goes down because the balance (principal) goes down. The interest rate is still constant. There are ways to get around the dollar amount paid. It is known as acceleration. Most people do this by paying a half-payment every two weeks instead of once a month. (Bi Weekly) this reduces the dollar amount of interest you pay IF you have a loan that allows it. THERE is ANOTHER story!! Pre-payment penalties! Usually, you are not allowed to pay more than 20% of the outstanding balance in any given year because banks WANT that *interest dollar*! There is more but I think I have made my point. I have done this for TWENTY freakin years. It is not a simple formula. MOST people do not understand it and they pay far more than they have to as a result. Class dismissed.

Edited at: Tuesday, March 24, 2009 3:03:14 PM

Edited at: Tuesday, March 24, 2009 3:23:25 PM

[~ MG_Metalgoddess~] Tuesday, March 24, 2009 3:01:48 PM

Yeah I agree.. I wanted everything to be legal.. So I took it to H&R block here... Since I had to file with 2 countries.

[Show/Hide Quoted Message] (Quoting Message by Deep Freeze from Tuesday, March 24, 2009 2:54:10 PM)

Deep Freeze wrote:

Do it yourself?? NEVER! Even I have an accountant, my dear. I do not operate on myself either! I have a doctor for that. I am the kind of person that leaves these things to the professionals.

MG_Metalgoddess wrote:

All I can do Is laugh I guess.. where do you go ?? LOL

Hugs MG~

		Deep Freeze wrote:

		Good Day to you all!!! Very quiet here, I see. Hopefully, we are all studying about mortgages and interest!! HA!!!!!!! Where the hell is strat??? OK, my "final" words on this subject; This is not a matter of "simple" interest. This is about amortized mortgage interest. An amortization table will show you how direct-reduction works. When you initially take a mortgage loan, your monthly payment is mostly interest and a little principal. In the first seven years or so, you pay only about 10% of the original balance. The rest is interest payment. It takes roughly 20 years to pay about HALF your balance! Of course, the amount of the principal paid does increase year after year and, in the last five years or so, you get a reversal and are paying mostly principal and little interest. Keep in mind that, no matter how small the interest payment, you still are paying at the same interest rate. 6% is always 6% throughout the life of your loan. The interest you are paying is on the amount that is outstanding in any given year. The dollar amount of interest you pay goes down because the balance (principal) goes down. The interest rate is still constant. There are ways to get around the dollar amount paid. It is known as acceleration. Most people do this by paying a half-payment every two weeks instead of once a month. (Bi Weekly) this reduces the dollar amount of interest you pay IF you have a loan that allows it. THERE is ANOTHER story!! Pre-payment penalties! Usually, you are not allowed to pay more than 20% of the outstanding balance in any given year because banks WANT that *interest dollar*! There is more but I think I have made my point. I have done this for TWENTY freakin years. It is not a simple formula. MOST people do not understand it and they pay far more than they have to as a result. Class dismissed.

Edited at: Tuesday, March 24, 2009 3:03:14 PM

[Deep Freeze] Tuesday, March 24, 2009 2:54:10 PM

Do it yourself?? NEVER! Even I have an accountant, my dear. I do not operate on myself either! I have a doctor for that. I am the kind of person that leaves these things to the professionals.
[Show/Hide Quoted Message] (Quoting Message by MG_Metalgoddess from Tuesday, March 24, 2009 2:51:36 PM)

MG_Metalgoddess wrote:

All I can do Is laugh I guess.. where do you go ?? LOL

Hugs MG~

		Deep Freeze wrote:

		Good Day to you all!!! Very quiet here, I see. Hopefully, we are all studying about mortgages and interest!! HA!!!!!!! Where the hell is strat??? OK, my "final" words on this subject; This is not a matter of "simple" interest. This is about amortized mortgage interest. An amortization table will show you how direct-reduction works. When you initially take a mortgage loan, your monthly payment is mostly interest and a little principal. In the first seven years or so, you pay only about 10% of the original balance. The rest is interest payment. It takes roughly 20 years to pay about HALF your balance! Of course, the amount of the principal paid does increase year after year and, in the last five years or so, you get a reversal and are paying mostly principal and little interest. Keep in mind that, no matter how small the interest payment, you still are paying at the same interest rate. 6% is always 6% throughout the life of your loan. The interest you are paying is on the amount that is outstanding in any given year. The dollar amount of interest you pay goes down because the balance (principal) goes down. The interest rate is still constant. There are ways to get around the dollar amount paid. It is known as acceleration. Most people do this by paying a half-payment every two weeks instead of once a month. (Bi Weekly) this reduces the dollar amount of interest you pay IF you have a loan that allows it. THERE is ANOTHER story!! Pre-payment penalties! Usually, you are not allowed to pay more than 20% of the outstanding balance in any given year because banks WANT that *interest dollar*! There is more but I think I have made my point. I have done this for TWENTY freakin years. It is not a simple formula. MOST people do not understand it and they pay far more than they have to as a result. Class dismissed.

[~ MG_Metalgoddess~] Tuesday, March 24, 2009 2:51:36 PM

All I can do Is laugh I guess.. where do you go ?? LOL

Hugs MG~

[Show/Hide Quoted Message] (Quoting Message by Deep Freeze from Tuesday, March 24, 2009 1:56:42 PM)

[Deep Freeze] Tuesday, March 24, 2009 1:56:42 PM

Good Day to you all!!! Very quiet here, I see. Hopefully, we are all studying about mortgages and interest!! HA!!!!!!! Where the hell is strat??? OK, my "final" words on this subject;

This is not a matter of "simple" interest. This is about amortized mortgage interest. An amortization table will show you how direct-reduction works. When you initially take a mortgage loan, your monthly payment is mostly interest and a little principal. In the first seven years or so, you pay only about 10% of the original balance. The rest is interest payment. It takes roughly 20 years to pay about HALF your balance! Of course, the amount of the principal paid does increase year after year and, in the last five years or so, you get a reversal and are paying mostly principal and little interest.

Keep in mind that, no matter how small the interest payment, you still are paying at the same interest rate. 6% is always 6% throughout the life of your loan. The interest you are paying is on the amount that is outstanding in any given year. The dollar amount of interest you pay goes down because the balance (principal) goes down. The interest rate is still constant.

There are ways to get around the dollar amount paid. It is known as acceleration. Most people do this by paying a half-payment every two weeks instead of once a month. (Bi Weekly) this reduces the dollar amount of interest you pay IF you have a loan that allows it. THERE is ANOTHER story!! Pre-payment penalties! Usually, you are not allowed to pay more than 20% of the outstanding balance in any given year because banks WANT that interest dollar!

There is more but I think I have made my point. I have done this for TWENTY freakin years. It is not a simple formula. MOST people do not understand it and they pay far more than they have to as a result. Class dismissed.

[K2M] Tuesday, March 24, 2009 10:58:26 AM

Good Morning

[scorpion01] Tuesday, March 24, 2009 10:42:11 AM

GOOD MORNING EVERYONE!

[Head banger] Tuesday, March 24, 2009 10:22:57 AM

actualy I thought you did very well. there are many details, that was one that I thought important
[Show/Hide Quoted Message] (Quoting Message by Deep Freeze from Tuesday, March 24, 2009 10:16:02 AM)

Deep Freeze wrote:

Head banger wrote:

you forgot to acount for the fact that as the american economy goes down, they buy less crap, resulting in less work and money going elswhere.

Deep Freeze wrote:

OK, I will try to give you an abbreviated version. As I mentioned earlier, it is a very complicated process. Here goes;

When mortgage loans are made (in this manner) they are put with others. Thousands are "bundled" and sold to Wall Street as "Mortgage Backed Securities". These loan pools are used to sell investors bonds and and other "secured" investments. They are the "collateral" you mentioned in an earlier post. The theory is, not all will go bad and the interest collected in a pool is far greater than the loss. Now, the problem comes when this system grows to a point where losses begin to overtake profit. More and more of these "bad loans" go sideways and are supplemented by further bad loans. They are sold and re-sold to different investors throughout the world (so other economies are affected). As more bundled securities arrive and are sold, the risky loans that have gone bad slowly begin to affect the profit margin. In the meantime, the loss loans now become foreclosures. These are sold at reduced rate and then picked up and re-mortgaged and placed into yet further pools. The values are watered down over time, and most of the time were inflated to begin with. This causes what is known as being "upside down"..property is worth less than the amount owed. Of course, that further disrupts the total value of the securities that are the basis of other investments.

I am being somewhat simple in my explanation. The fact is, this does affect other economies because they are sold on the market and investors from all over the world are involved. Not necessarily in mortgage investments, but in the resulting securities that the bundles fund.

(Quoting Message by _strat_ from Tuesday, March 24, 2009 8:01:53 AM)

_strat_ wrote:

True. So, now that we cleared that up, explain why are we in a reccesion, when it was the American citizens who took bad loans, and explain how that is connected.

Deep Freeze wrote:

At LAST!!! Someone that gets it...!!! HAAAAAA!!!!!!!!!!!!!!!!!!!!!!! Oh thank you so much Ron!! You came in and said that people should take responsibility!!! WOW!!! Consequence for action!!! woo hoo!! At last! At last!! HAAAAAAAAAAAAHAHAHHAHAHAHAAA!!!!!!!!!!

ronhartsell wrote:

It still ultimately boils down to individual responsibility...I have to agree with the way Freeze put...income-outgoing=???...if that's a negative number, you don't have it...how much more complicated does it have to be??...just because it's 'offered' does NOT mean one should accept!!! RESPONSIBILITY!!!!!

Good morning fellow Metalheads!!!

Head banger wrote:

but, one of the large issues we are not addressing is government debt. the US government owes so much, they destablize the economy just by their daily actions. if the US federal debt was half, they owuld be much further ahead. as the govt debt goes, realy, so does the banks, the corporations, and the citizens.

ronhartsell wrote:

Freeze, HB, MG, strat...all of you have nailed it...blaming the institution is only allowing the individual to escape responsibility!!! No one was forced to sign their names on the dotted line, and that's what all of this boils down to...nothing more, nothing less!!!

THERE ARE NO INNOCENT VICTIMS IN THIS EXCEPT THE TAX PAYER WHO DIDN'T TAKE OUT A LOAN YET HAS NO CHOICE IN WHERE THEIR TAX DOLLARS GO!!!

		Deep Freeze wrote:

		You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....: WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting. Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy! Edited at: Monday, March 23, 2009 9:11:57 AM Edited at: Monday, March 23, 2009 9:18:22 AM

Edited at: Tuesday, March 24, 2009 8:23:28 AM

[Deep Freeze] Tuesday, March 24, 2009 10:16:02 AM

Not so much that I"forgot", I tried to be brief! Like I said, it is very complicated. More than I can say on the Boards without writing a Kendall-sized post!! HA!!!!!!!!!!!!!!!!!!!!!!!!!!!!! (Apologies to Kendall)
[Show/Hide Quoted Message] (Quoting Message by Head banger from Tuesday, March 24, 2009 9:38:44 AM)

Head banger wrote:

you forgot to acount for the fact that as the american economy goes down, they buy less crap, resulting in less work and money going elswhere.

Deep Freeze wrote:

OK, I will try to give you an abbreviated version. As I mentioned earlier, it is a very complicated process. Here goes;

(Quoting Message by _strat_ from Tuesday, March 24, 2009 8:01:53 AM)

_strat_ wrote:

True. So, now that we cleared that up, explain why are we in a reccesion, when it was the American citizens who took bad loans, and explain how that is connected.

Deep Freeze wrote:

ronhartsell wrote:

Head banger wrote:

ronhartsell wrote:

		Deep Freeze wrote:

		You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....: WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting. Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy! Edited at: Monday, March 23, 2009 9:11:57 AM Edited at: Monday, March 23, 2009 9:18:22 AM

Edited at: Tuesday, March 24, 2009 8:23:28 AM

[Head banger] Tuesday, March 24, 2009 9:38:44 AM

you forgot to acount for the fact that as the american economy goes down, they buy less crap, resulting in less work and money going elswhere.
[Show/Hide Quoted Message] (Quoting Message by Deep Freeze from Tuesday, March 24, 2009 8:15:39 AM)

Deep Freeze wrote:

OK, I will try to give you an abbreviated version. As I mentioned earlier, it is a very complicated process. Here goes;

(Quoting Message by _strat_ from Tuesday, March 24, 2009 8:01:53 AM)

_strat_ wrote:

True. So, now that we cleared that up, explain why are we in a reccesion, when it was the American citizens who took bad loans, and explain how that is connected.

Deep Freeze wrote:

ronhartsell wrote:

Head banger wrote:

ronhartsell wrote:

		Deep Freeze wrote:

		You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....: WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting. Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy! Edited at: Monday, March 23, 2009 9:11:57 AM Edited at: Monday, March 23, 2009 9:18:22 AM

Edited at: Tuesday, March 24, 2009 8:23:28 AM

[Deep Freeze] Tuesday, March 24, 2009 8:15:39 AM

OK, I will try to give you an abbreviated version. As I mentioned earlier, it is a very complicated process. Here goes;

[Show/Hide Quoted Message] (Quoting Message by _strat_ from Tuesday, March 24, 2009 8:01:53 AM)

_strat_ wrote:

True. So, now that we cleared that up, explain why are we in a reccesion, when it was the American citizens who took bad loans, and explain how that is connected.

Deep Freeze wrote:

ronhartsell wrote:

Head banger wrote:

ronhartsell wrote:

		Deep Freeze wrote:

		You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....: WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting. Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy! Edited at: Monday, March 23, 2009 9:11:57 AM Edited at: Monday, March 23, 2009 9:18:22 AM

Edited at: Tuesday, March 24, 2009 8:23:28 AM

[_strat_] Tuesday, March 24, 2009 8:01:53 AM

True. So, now that we cleared that up, explain why are we in a reccesion, when it was the American citizens who took bad loans, and explain how that is connected.
[Show/Hide Quoted Message] (Quoting Message by Deep Freeze from Tuesday, March 24, 2009 7:34:47 AM)

Deep Freeze wrote:

ronhartsell wrote:

Head banger wrote:

ronhartsell wrote:

		Deep Freeze wrote:

		You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....: WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting. Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy! Edited at: Monday, March 23, 2009 9:11:57 AM Edited at: Monday, March 23, 2009 9:18:22 AM

[Deep Freeze] Tuesday, March 24, 2009 7:34:47 AM

ronhartsell wrote:

Head banger wrote:

ronhartsell wrote:

		Deep Freeze wrote:

		You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....: WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting. Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy! Edited at: Monday, March 23, 2009 9:11:57 AM Edited at: Monday, March 23, 2009 9:18:22 AM

[ron h] Tuesday, March 24, 2009 4:42:06 AM

Head banger wrote:

ronhartsell wrote:

		Deep Freeze wrote:

		You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....: WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting. Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy! Edited at: Monday, March 23, 2009 9:11:57 AM Edited at: Monday, March 23, 2009 9:18:22 AM

[_strat_] Tuesday, March 24, 2009 2:23:03 AM

Well, I agree theyre not the only ones to blame. Theres big businesses too.

Sry... If I dont start the day blaming the big bourgeoisie for the bad weather, then I rather call in sick to work.

[Show/Hide Quoted Message] (Quoting Message by Deep Freeze from Monday, March 23, 2009 6:01:57 PM)

Deep Freeze wrote:

HA!!!!!!!!!! As I said, it is far more complicated than what we can get into here on the Board. There were many that said something about the impending crisis but GREED speaks louder, my friend. And I was not looking to assign a degree or level of blame, I was pointing out how sick I am of the media portraying banks as the lone evil. They are not. Period. No matter what form of social belief you hold true, irresponsibilty remains unacceptable. Shows like Dateline just love to exploit the already skewed sense of fault that permeates this entire, sordid mess.

_strat_ wrote:

Well, rights and wrongs... Sooner or later, for better or for worse, those "flowery rights and wrongs" will be all that matters, since people - stupid or smart, guilty or innocent - that have been tossed into poverty will have enough, and then you will have a social and a political crisis on top of the economic one. If you havent already - we do and we arent even officialy in a reccesion yet! And then we come to the plain and simple fact that this is not just a current crisis of the economy, but a crisis of the system, that will (hopefully) end the two decades of neo-liberal wet dreams.

Now, with banks, its obvious that we have two very different ways here - as I said, over here, youre NOT going to get a loan just by steping into a bank. You couldnt even before the crisis. That was the whole problem here for years (and its only worse now). People just couldnt get a loan, unless they could offer good guarantees that a loan can be repayed. The banks demanded guarantees in real estate, shares... anything that can be bought and sold. When I read from you, about how Americans could take loans where payments exceeded their wages by two times or more, I could hardly believe it. And I agree on that much at least, that in your case, much of the blame is on the people who took those loans. Although, I can still hardly believe that there would be so many such morons to start a crisis like we have now.

And in the end... Banks hold the money. Banks, private or state owned, have a lot of responsibility for the wealth of the society. How come they couldnt predict what would happen if they continue with the policy they had? With all the experts they have? They do have a lot of blame. Because, in the end, it remains that most of the wealth is held by a very small minority of people. Be it in my country, your country, or globaly. And they hold the greatest amount of responsibility for this crisis.

Deep Freeze wrote:

Exactly, HB!
Strat my friend, this is NOT a debate over the "oh so flowery rights and wrongs" of proper lending or borrowing. This is a stark reality, man. You should NEVER sign ANYTHING which you do not understand. Moreover, I do not care if "god" himself tells you that you can "afford it", any rational, thinking human being can see that income is "x" and outgo is "y". There is no other formula to justify it.

YES! Banks expect you to repay,usually. In the case of our current "crisis", it was not an important part of the lending process because loans were put into 'pools' that were sold as "Mortgage Backed Securities" on Wall Street. Banks were not expecting to actually collect the debt as they would in a normal mortgage loan. So, you see this is NOT a simple "percentage" or loan repayment or any of that. As I mentioned way back in our previous discussion on loans and interest, it is FAR more complicated than that. I could explain it but it would be a FAR BIGGER post than even this one is and it will make NO sense to you. (You are welcome to PM me if you would like a more detailed lesson)

There is plenty of blame to go around but very little responsibility. I am just sick of the banks getting hammered in the media as some evil, demonic force that have possessed otherwise good and decent people and ruined their lives. BAH!! Stupid people should NOT own homes. They are better off renting and being told what to do.

_strat_ wrote:

Going postal? What am I supposed to deliver? Or is it just some weird phrase?

Ok... Loans... I guess the question here is, do your banks even know who theyre lending the money to? Im pretty damn sure that I couldnt get a loan for a home with my wage - because the bank will make damn sure that they get their money back, no matter what, and they will confiscate my underwear if they have to. If you want to take a loan here, you have to have the means to repay it - pure and simple.

And, I guess its true, there are stupid people that will take those loans (if they can get them, that is). But... Its a crisis. What if someone gets laid off, and cannot pay the loan that he/she was perfectly able to manage a year ago? What if that happens purely because of an idiotic CEO in his office in Paris that says "Oh, well, we will just close down that factory in Eastern Europe... Fuck them."?

		Deep Freeze wrote:

		You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....: WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting. Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy! Edited at: Monday, March 23, 2009 9:11:57 AM Edited at: Monday, March 23, 2009 9:18:22 AM

[_strat_] Tuesday, March 24, 2009 2:20:21 AM

The Daily Fail? Thank you very much, but no. I have good digestion.
[Show/Hide Quoted Message] (Quoting Message by spapad from Monday, March 23, 2009 9:22:42 PM)

spapad wrote:

Read the Daily Mail online. They hate him and they hate Blair too!

Becks wrote:

I'm not sure what the Brits reckon of Gordon Brown but I don't think he is very popular, in part because as you said, he wasn't actually elected by the public.

spapad wrote:

I know he is. And he is the biggest fool to ever govern, who was not ever voted in! Sold off gold reserves for a fraction! Why the hell did he do it in the first place! There are very few dumber than that fool. OOOOooops, Sorry, forgot we had Dubbah! (Quoting Message by Becks from Monday, March 23, 2009 9:15:03 PM)

Becks wrote:

LMAO Gordon Brown! The old Scottish dude who took us on our boat trip on Loch Ness was like 'The English can have him he's an idiot!' (cos GB is actually Scottish lol).

spapad wrote:

Darn HB, the only time I wished you lived in Britian. So I could say say two words, ........Gordon Brown.

Head banger wrote:

ronhartsell wrote:

		Deep Freeze wrote:

		You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....: WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting. Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy! Edited at: Monday, March 23, 2009 9:11:57 AM Edited at: Monday, March 23, 2009 9:18:22 AM

Edited at: Monday, March 23, 2009 9:20:43 PM

[spapad] Monday, March 23, 2009 9:28:51 PM

Head banger wrote:

google Ralph Klein. might not have been popular, but put in place comon sense policies, cut debt and govt spending. resulted in huge tax cuts in alberta, and huge growth.

spapad wrote:

Darn HB, the only time I wished you lived in Britian. So I could say say two words, ........Gordon Brown.

Head banger wrote:

ronhartsell wrote:

		Deep Freeze wrote:

		You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....: WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting. Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy! Edited at: Monday, March 23, 2009 9:11:57 AM Edited at: Monday, March 23, 2009 9:18:22 AM

Edited at: Monday, March 23, 2009 9:47:26 PM

<< Previous

Message 18021 to 18073
Messages per page: 20 50 100
Message display order: [Newest first] Oldest first
Page: First ...331 332 333 334 335 336 337 338 339 340 [341] 342 343 344 345 346 347 348 349 350 ... Last

Next >>