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WOW!! What a great economy we've got.......

kolanuraven

Well-known member
if you're the Repo Man!!!...or Cal or ' boogie"
:shock: :shock: :shock:



Special Report

73,000 homes lost to foreclosure in May
Housing: It'll get worse
Housing crunch, 90210
FHA chief balks at taking on more bad loans


NEW YORK (CNNMoney.com) -- The housing crisis grew worse in May, as more than 73,000 American families lost their homes to bank repossessions, up a staggering 158% from the 28,548 households that were dispossessed in May 2007.

Foreclosure filings of all kinds, including default notices, notices of sheriff's sales and bank repossessions, were up 48% from May 2007, according to the latest release from RealtyTrac, the online marketer of foreclosed properties. Filings increased 7% from April.










http://money.cnn.com/2008/06/13/real_estate/foreclosures_may/index.htm?cnn=yes
 

aplusmnt

Well-known member
kolanuraven said:
if you're the Repo Man!!!...or Cal or ' boogie"
:shock: :shock: :shock:



Special Report

73,000 homes lost to foreclosure in May
Housing: It'll get worse
Housing crunch, 90210
FHA chief balks at taking on more bad loans


NEW YORK (CNNMoney.com) -- The housing crisis grew worse in May, as more than 73,000 American families lost their homes to bank repossessions, up a staggering 158% from the 28,548 households that were dispossessed in May 2007.

Foreclosure filings of all kinds, including default notices, notices of sheriff's sales and bank repossessions, were up 48% from May 2007, according to the latest release from RealtyTrac, the online marketer of foreclosed properties. Filings increased 7% from April.

http://money.cnn.com/2008/06/13/real_estate/foreclosures_may/index.htm?cnn=yes

If you over extend yourself and get more payments than you can afford it is your fault people getting mortgatge payments 50% or 75% of their take home pay are just stupid and the cause of their loss.
 

kolanuraven

Well-known member
aplusmnt said:
kolanuraven said:
if you're the Repo Man!!!...or Cal or ' boogie"
:shock: :shock: :shock:



Special Report

73,000 homes lost to foreclosure in May
Housing: It'll get worse
Housing crunch, 90210
FHA chief balks at taking on more bad loans


NEW YORK (CNNMoney.com) -- The housing crisis grew worse in May, as more than 73,000 American families lost their homes to bank repossessions, up a staggering 158% from the 28,548 households that were dispossessed in May 2007.

Foreclosure filings of all kinds, including default notices, notices of sheriff's sales and bank repossessions, were up 48% from May 2007, according to the latest release from RealtyTrac, the online marketer of foreclosed properties. Filings increased 7% from April.

http://money.cnn.com/2008/06/13/real_estate/foreclosures_may/index.htm?cnn=yes

If you over extend yourself and get more payments than you can afford it is your fault people getting mortgatge payments 50% or 75% of their take home pay are just stupid and the cause of their loss.


A-Hole, gloating cause you think you're smarter than they were does NOTHING for the situation at hand.

This is wrecking the economy....and in some areas creating homeless people with families.


I'm beginning to think you're a banker that works for Exxon
 

NMRANCHER

Well-known member
Talked with a couple of fellow long term ranchers down here that usually get their operating loans in January and Feburary. They have both been called by thier Ag lending sources and were asked to put up more collateral. The bankers reasoning is: Feed Cost too high now and the lack of rain.

As one rancher put it, "Now that banker is scared that he may be out of a job if my calves don't make it to market." "I have a $50,000 operating loan on $100,000 worth of cows at low market value and he wants more collateral?" he continued, "When I asked him that he had nothing to say."

That old guy told the banker, "You singed the same paper I did, now you get to ride the bull with me."

This rancher, I know, owns outright a ranch worth 2 to 3 million on todays market and only gets an operating loan to run a few cows. I wish other owner-operators like myself was able to say that.
 

jodywy

Well-known member
Let’s see cafes closing in the afternoon because they can’t get help. Housing shortages here, people living in man camps in the gas fields. Can’t find ranch or farm help most are going to H2S employees. Yup economy booming in Wyoming….
 

Clarencen

Well-known member
Tell us Kola, What do you think has caused the housing crisis?

I believe it is the same thing that caused the farm crisis in the 1980's. The economy was looking to good, Advertisng and promotion. Use what equity you have in your present home re-invest in a better one, or a boat, or a ???. It will always increase in value the sky is clear, smooth flying from now on. You have seen it, You have heard it.

Maybe it is not all bad, there may be a silver lining. Low cost repossed home might become available to some who would not have a chance to own them before. The world is not always fair. Some lose, some gain. But I sure do hate to be the one on the loseing end.
 

aplusmnt

Well-known member
kolanuraven said:
aplusmnt said:
kolanuraven said:
if you're the Repo Man!!!...or Cal or ' boogie"
:shock: :shock: :shock:



Special Report

73,000 homes lost to foreclosure in May
Housing: It'll get worse
Housing crunch, 90210
FHA chief balks at taking on more bad loans


NEW YORK (CNNMoney.com) -- The housing crisis grew worse in May, as more than 73,000 American families lost their homes to bank repossessions, up a staggering 158% from the 28,548 households that were dispossessed in May 2007.

Foreclosure filings of all kinds, including default notices, notices of sheriff's sales and bank repossessions, were up 48% from May 2007, according to the latest release from RealtyTrac, the online marketer of foreclosed properties. Filings increased 7% from April.

http://money.cnn.com/2008/06/13/real_estate/foreclosures_may/index.htm?cnn=yes

If you over extend yourself and get more payments than you can afford it is your fault people getting mortgatge payments 50% or 75% of their take home pay are just stupid and the cause of their loss.


A-Hole, gloating cause you think you're smarter than they were does NOTHING for the situation at hand.

This is wrecking the economy....and in some areas creating homeless people with families.


I'm beginning to think you're a banker that works for Exxon

Can't see where I gloated, just stated the facts. People that had the resources to buy a house should have the smarts to do it properly, otherwise they should be renting. Everyone is not cut out for home ownership, owning business or having kids so maybe it is best they do not do either if they do not have the competence!

And whoever failed in home ownership and had it reposed should have been able to hoard back a few of them payments they did not pay before being kicked out, so they could rent a place.

kolanuraven said:
I'm beginning to think you're a banker that works for Exxon

You are getting warm! :wink: :lol:
 
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