Street of broken dreams: Foreclosures shutter Sorrento Springs ...

LEVEL1 wrote:

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don't worry, i know the location.

Well come enjoy some good ice cream.

;-)

Just behave yourself....you'll be on camera. ;-)

LEVEL1 wrote:

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so do you think our government bailout the idiot bankers who got sloppy with their underwriting and lent these people the money?

Incomplete sentence....but I'm assuming that you're asking my input on the banker bailout???

Not for it at all.

But it's not just that group.
Had lunch yesterday with a friend who is indirectly involved in the housing business (does inspections).
And it was EVERYONE who caused the problem....unethical appraisers, realtors trying to up their commissions, underwriters, mortgage brokers, and even homeowners flipping from one RE agent to the next to find the one who would 'tell them' that they could get "X" for the house when everyone KNEW it was only worth 60% of X.

LEVEL1 wrote:

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so do you think our government bailout the idiot bankers who got sloppy with their underwriting and lent these people the money?

Now...on the 'flipside' of the argument......I don't subscribe to know everything about the complexities of the banking system.

So...if those who DO know more, see that 'bank X' is in trouble..and such failure would cause a domino effect......which would be economically catastrophic to all aspects of the economy.....and it could be prevented by intervention (at the most minimal of levels), then I'm for that.

Unlike most liberals today (who enjoy trauma in the headlines--which, as I've stated before, hurts THEIR CONSTITUENCY much harder...), I'm not for TRYING to kill the economy.

If we could cut these government salaries to minimum wage and make all elected officials run for election every year,this would solve all of our problems.

A E Banks wrote:

If we could cut these government salaries to minimum wage

And you think that's going to draw QUALITY employees?....or 'leadership'?
Why is it that so many people TOLERATE (and financially support) ball players who make MILLIONS, yet are stupid enough to think that you're going to get quality leadership and work out of people when you only want to pay them peanuts?

Pay the mayor of Orlando $500k a year.....I'd bet we'd have a ton of people fighting for the position then! And we'd probably get GOOD candidates with GOOD qualifications!

A E Banks wrote:

make all elected officials run for election every year,this would solve all of our problems.

Disagree.
I'm not opposed to having a 'approval vote' every year...and any candidate which scores less than say...35%---is given their 'one year notice' that they'll be replaced next year...but many of these cities, states, and even the country...needs LONGER leadership stints. You can't get jack accomplished in 2 years...or even 4 as in the case of President.

Think about it...we, as a nation, have been 'whooped up' for the last 9 months over the upcoming election. And once the election is over, it'll take a solid 3-6 months for President McCain to get everything in place and established and headed in the right direction!(minimum)
Then he's got 2-3 years before he has to 'gear up' to run again.........

My input....make terms longer. President: 10 years. At 4 years, there's an 'approval vote'.

liberals hate facts wrote:

<quoted text>Incomplete sentence....but I'm assuming that you're asking my input on the banker bailout???
Not for it at all.
But it's not just that group.
Had lunch yesterday with a friend who is indirectly involved in the housing business (does inspections).
And it was EVERYONE who caused the problem....unethical appraisers, realtors trying to up their commissions, underwriters, mortgage brokers, and even homeowners flipping from one RE agent to the next to find the one who would 'tell them' that they could get "X" for the house when everyone KNEW it was only worth 60% of X.

Exactly!

What did yo mamma say Forest,
"Stupid is as stupid does".

Bat Man wrote:

I am loving this housing crash. I am sitting with 40,000 dollars in the bank as my down payment. I hope prices and foreclosure keep at record levels. I will be able to buy someones misfortune. I love it.

Not a bad idea, but a big warning. Many homes in default and foreclosure are in bad shape. People started cutting on home repairs and maintenance before they started cutting on mortgage payments. Some people have gone as far as trashing their homes, looting chandeliers, stripping copper, removing marble counter tops and high priced fixtures before handing over the keys to the bank.

The savings in sale price may end up being exhausted by the amount of time and money needed to bring the home up to code and liveable standards.

Let the homeless move in.
Sounds like its the middle of nothing. No neighbors to worry about.
Only problem, you'll have to put in a beer store and ship the dope into them.

In our county we cut the county commissioners salaries from 90000 per year to 23500 per year.It passed by 97 percent approval.The commissioners said no one would do the job for that.However,all the existing commissioners stayed on at the reduced salary.So,it can be done and should be done.It solved many problems.

When you get greedy or are just plain stupid, then no one cares about you or your stupid over priced house. I LOVE that word: FORECLOSURE! Putting the most deserving people out on the street!

the reporter who wrote this article should of done there homework.the woman they interviewed doesnt even own her home she rents it.she has also been evicted from other places for failure to pay rent its in the seminole county florida court records

Worst president in the history of the US.

Recession, where??

Tell that to Disney. With all the out of state plates at the resorts and parking lots, people are paying for gas and vacationing. Shut up YOU LIBERAL WHINERS !!!

Whaaah Whaaaaah, I am broke, I spent all my money at the mouse. Uncle Sam, give me more money.

It's George Bush's fault !!

These people are so stupid. If you like your house, but cannot make paymets, just tap a 401 and pay it off. Rebuild the 401 later

brian wrote:

the reporter who wrote this article should of done there homework.the woman they interviewed doesnt even own her home she rents it.she has also been evicted from other places for failure to pay rent its in the seminole county florida court records

They are too lazy to research stories.

There is over 1 trillion in bad real estate loans in this country. Some is also commercial as the strip shopping center and office space that was built was between 40 to 60 percent too much and will not be occupied.

People sucked every last cent to invest in these building trusts. I know several that have virtually n o equity left in their names after sucking hundreds of thousands of dollars out and loosing it in these venture.

What is worse is they own more on the house than they will probably be able to sell it for even 10 years from today they will not be able to break even.

Experts in economics say it will be 3-5 years before all of this is eliminated as a problem and that interest rates on your CDs and savings will stay low until them can make it up off your backs. You know 14% plus credit card rates and 6-7 percent interest rates on homes.

Hillary wrote:

These people are so stupid. If you like your house, but cannot make paymets, just tap a 401 and pay it off. Rebuild the 401 later

That is the worse thing you can do! You lose about 30% when you take out your money out of a 401K or an IRA, and if you file bankruptcy, that money is safe from creditors! That is foolish advice. Do not do that.Any savvy financial advisor will tell you NOT to do that

Bat Man wrote:

I am loving this housing crash. I am sitting with 40,000 dollars in the bank as my down payment. I hope prices and foreclosure keep at record levels. I will be able to buy someones misfortune. I love it.

Look in the Olympia High School district (A rated) and in those established neighborhoods are homes in excellent condition for sale, great prices. It is the NEW houses that people bought and abandoned. The older custom homes are better choices.

Well the aruguments are over on this article. Congrees in its infinite wsdom has bullied everyone and we are now going to bail out all these bad choices. All those over built over priced communities in Lake County are now going to be re habed and sold cheaper, and the banks and developers are going to get paid. This is going to be a very bad time in Florida