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  1. #11
    Quote Originally Posted by shrewsbury View Post
    these people took the loans, it was not forced
    That has no relevance. People are not supposed to be held responsible for their actions, just big corporations are. Just because these people got high interest loans on houses that were worth less than what they were paying for it and then couldn't make the payment is not their fault.

    I don't know how the logic works, but this is just like every other liberal agenda. Blame someone else. Obama fails to fulfill campaign promises, blame Bush. People are losing their homes, blame the bank. The deficit keeps going up, blame the rich. The concept of taking responsibility is not a well accepted or often seen thing on the left.

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  2. #12
    Duane, the loan part I can see someone thinking they will be making enough to handle the payments and getting in over their heads. though it is not good financial sense i can see it happening, but don't know why the banks get the blame.

    the thing that really gets me is, some of these same people turn around and don't pay mortgage and wait till a court order makes them move and think it is logical to do so. obviously they lack financial logic in the first place for taking a loan.

    i have owned two homes and getting ready to buy our third, I base what I can afford by what we make now, not the future.
    Jay Shrewsbury
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  3. #13


    Wickabee's Avatar

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    Quote Originally Posted by duane1969 View Post
    That has no relevance. People are not supposed to be held responsible for their actions, just big corporations are. Just because these people got high interest loans on houses that were worth less than what they were paying for it and then couldn't make the payment is not their fault.

    I don't know how the logic works, but this is just like every other liberal agenda. Blame someone else. Obama fails to fulfill campaign promises, blame Bush. People are losing their homes, blame the bank. The deficit keeps going up, blame the rich. The concept of taking responsibility is not a well accepted or often seen thing on the left.
    I agree with you except the liberal bashing. That was unnecessary. Remember, conservatives lost an election and blamed the voters. What does that tell you about not taking responsibility.
    Patiently waiting for someone to bring back sax solos and keytars non ironically.

  4. #14
    Quote Originally Posted by shrewsbury View Post
    Duane, the loan part I can see someone thinking they will be making enough to handle the payments and getting in over their heads. though it is not good financial sense i can see it happening, but don't know why the banks get the blame.

    the thing that really gets me is, some of these same people turn around and don't pay mortgage and wait till a court order makes them move and think it is logical to do so. obviously they lack financial logic in the first place for taking a loan.

    i have owned two homes and getting ready to buy our third, I base what I can afford by what we make now, not the future.
    My guess is that while you are basing your home buying on your current income you have also considered what you expect your financial situation to be in 20 or 30 years or at the very least have considered the home's value versus what you are paying if you end up in a bind and have to sell it.

    My point...if you were about to pay $225,000 with an interest rate of 12.5% on a home with an assessed value of $175,000, would you do it? I am guessing no. That is exactly what these people did. They overpaid and signed off on high-interest loans with no thought of how they would deal with it if the market collapsed or if they lost their jobs. They are a victim of themselves.

    When my wife and I decided to buy a home we looked at home prices versus home values. We realized that we could build a much better home than we could buy for the same money. Instead of paying $250k for a 15 year old 1800 square foot home on a small 1/5th acre lot we bought 1.5 acres of land, built the foundation, installed septic and a well and built the house (all via contractors). Now we have a 3000+ square foot home on a large parcel of land that has an assessed value of 154% of what we owe. I am not saying that I am smarter than anyone else, but it takes a little logic and forethought to make good choices. Doing things just because "I want to" with no concern for the consequences is what gets people into bad mortgages and bankruptcy court.

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  5. #15
    Quote Originally Posted by Wickabee View Post
    I agree with you except the liberal bashing. That was unnecessary. Remember, conservatives lost an election and blamed the voters. What does that tell you about not taking responsibility.
    It isn't liberal bashing. Everything that I said is true. Liberal agenda rarely involves taking responsibility for ones own actions. Don't want to go off topic, but most liberal agendas involve someone taking the blame for someone else's actions. There are certainly those on the right who do the same thing, but I do not support them either and to a large degree conservative agendas do not involve blame shifting.

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  6. #16


    Wickabee's Avatar

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    I looked at what mortgage I qualified, cut 1/3 from that and that was my purchase price. The bank's job is to keep me in debt forever. Whatever number they tell me I can handle, I can probably really handle 2/3 of that.
    Of course, my wife works for the bank so my interest rate is wicked low.
    Patiently waiting for someone to bring back sax solos and keytars non ironically.

  7. #17
    Quote Originally Posted by Wickabee View Post
    I looked at what mortgage I qualified, cut 1/3 from that and that was my purchase price. The bank's job is to keep me in debt forever. Whatever number they tell me I can handle, I can probably really handle 2/3 of that.
    Of course, my wife works for the bank so my interest rate is wicked low.
    See, that is just being responsible. Of course banks want you in debt forever, that is how they make money. WalMart wants you in their store every day so they carry a wide variety of items to draw you in. Pet food companies support pet adoption because that means they sell more pet food. Every business wants to succeed and for banks success mean loans. Just like the consumer has to decide whether or not to adopt a cat or whether or not to buy things you don't need when you stop by WalMart for milk, they have to be smart enough to not sign a loan that is out of their budget.

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  8. #18


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    Quote Originally Posted by duane1969 View Post
    It isn't liberal bashing. Everything that I said is true. Liberal agenda rarely involves taking responsibility for ones own actions. Don't want to go off topic, but most liberal agendas involve someone taking the blame for someone else's actions. There are certainly those on the right who do the same thing, but I do not support them either and to a large degree conservative agendas do not involve blame shifting.
    I consider myself a liberal (at least in this group) and, I'm sorry but to say that's a liberal thing is an insult. Especially after the "stupid voters" comments from so many conservatives. You want to talk blaming others? While everyone was telling them to their faces why they lost the election, almost every conservative was blaming everyone but themselves. Obama gave too much stuff away, the voters are stupid, minorities made the wrong choice, etc, etc. And you're trying to tell me this is the backbone for liberals and a skin spot with conservatives?
    How about blaming Obama for not making a deal while they themselves are guilty of the exact same thing?
    This isn't a liberal or conservative thing. It's a political thing. No politician can allow himself to be at fault. If he does, he mist leave. That's the problem.

    But I guess it is easier to blame someone else than realize the reality...
    Patiently waiting for someone to bring back sax solos and keytars non ironically.

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