Blown Mortgage - Latest Comments in It’s time to take back the American Dream

Re: It’s time to take back the American Dream

aconniff — Tue, 20 May 2008 15:36:18 -0000

Random Steering question.
Anyone know of Countrywide, Full Spectrum Lending Division and their new TS2/RealEc program? They are only using Stewart, Fidelity, and LandAmerica Corporation for title and escrow now. I guess you have to have the new TS2 program, and if you aren't already approved for the new system you can't get in to get approved. Is that steering?

Re: It’s time to take back the American Dream

avenue s — Wed, 14 May 2008 15:38:48 -0000

"too often we excuse those who live their lives from the shattered dreams of other human beings" RFK.
A loan audit to determine the validity of the mortgage contract is what we suggest to put a Stop to this cancer. Seek out violations that break State and Federal Fair Lending Laws. Hold these vultures accountable.

Re: It’s time to take back the American Dream

morganb — Wed, 14 May 2008 14:32:10 -0000

Thanks Hezekiah -it's nice to see a comment from you again!

Morgan

Re: It’s time to take back the American Dream

morganb — Wed, 14 May 2008 14:31:41 -0000

thanks chris and well said!

Re: It’s time to take back the American Dream

Genuine Chris Johnson — Wed, 14 May 2008 01:26:30 -0000

Morgan-

This is a classic BM. And what to do about it? Drive your 1998 honda another 3 years. STOP worrying about the approbabtion of 30k millionaires.

Re: It’s time to take back the American Dream

Hezekiah King — Tue, 13 May 2008 23:10:50 -0000

It's funny how you guys are going on with this "Amen" and "Brother Morgan" bit. I intended to post the following before I saw the comments:)

The Bible has a LOT to say about debt. This website seems to capture the essence quite well.

http://www.christchurch-virginiawater.co.uk/art...

Here are a couple of particularly poignant quotes from the Bible:

“The rich rule over the poor, and the borrower is servant to the lender” (Proverbs 22:7).

“Do not co-sign another person’s note or put up a guarantee for someone else’s loan. If you can’t pay it, even your bed will be snatched from under you” (Proverbs 22:26–27 NLT).

God bless you.

Re: It’s time to take back the American Dream

morganb — Tue, 13 May 2008 15:41:06 -0000

Well said Dr. HB. Warren Buffet is simply following the steps of the most
successful mega-millionaires who realize that in the end that dying with the
most stuff, money, cars, debt, etc. is not the American Dream. It is
opportunity, plain and simple, that has been mutated by the greed-driven
marketing efforts of for-profit corporations.

Re: It’s time to take back the American Dream

Dr. Housing Bubble — Tue, 13 May 2008 14:12:20 -0000

Amen Brother!

I think the $30k millionaires out there think they are living the American Dream when they are simply posing in a debt ridden lifestyle with their H2 gas guzzlers going 10 MPH on the 405 in rush hour traffic. Not exactly the American Dream.

You know, I think this is so pervasive that a large number of people simply cannot understand why Warren Buffet is leaving his kids only a fraction of his fortune and donating the rest. His kids are all well adjusted but understand that being wealthy is much more than the artifacts of debt. That has been lost on our society and the financial illiteracy is coming back to bite us.

I have a feeling we are in for a societal tipping point.

Re: It’s time to take back the American Dream

Aaron Fischer — Tue, 13 May 2008 13:08:12 -0000

I would argue that the American dream has always been the real ownership of property . Be that real estate or material goods.

Re: It’s time to take back the American Dream

morganb — Tue, 13 May 2008 12:08:05 -0000

that's how i'm feeling right now Don!

Re: It’s time to take back the American Dream

Don — Tue, 13 May 2008 12:05:36 -0000

Yes, AMEN, Brother Morgan!

Keith, that's the problem, if you have to put something on plastic, and it can't be paid in full by the end of them month, you can't afford it. That's Morgan's whole point.

If you couldn't put 10 percent down on a house and qualify for a 30 year fix, you cannot afford the house/condo/whatever.

This whole keeping up with the Joneses has it's seeds in the postwar America, where we were marketed to death. I think people started to live past their means sometime in the 80's. Between the rise, fall, rise, fall of the the stock market and the rise of the real estate bubble, people thought they could spend their way into oblivion.

Well, the 26 year shopping spree is over.

It's time to get back to basics. Buying a one story, 3/2, 30-40 year old home in So Cal shouldn't seem "beneath" anyone anymore. Or a decent 2/2 condo.

It's time to live in one's means. Save money, shop at Nordstrom's Rack, make eating out a special occasion once ot twice a month, pack your lunch to work, buy a new car 6-10 years out instead of every 2-3 years, buy a tv instead of a home theater, take a vacation in California instead of Europe, etc.

It's time to get back basics and common sense. Let's look back at our grandparents and ponder why they were called "The Greatest Generation".

Re: It’s time to take back the American Dream

Keith Kemp — Tue, 13 May 2008 10:32:05 -0000

Can you blame the american people for following the lead of our nation into more and more debt? instead of capital one and chase credit cards it's china and india and the only difference is our country is sending our jobs over to their people!!! How does a debt get paid if we are sending them more of our work? How could u and I pay our cap one credit card if we handed over our job to them? what we need is Mortgage Assistanceto save the american dream!

Re: It’s time to take back the American Dream

tvanderwell — Tue, 13 May 2008 10:14:50 -0000

And all God's people said,

"AMEN!"

Well said.