A reward for responsible homeowners

[MJ DeMarco]

The government has bailed out Wall Street firms, giant banks, creditors of Fannie Mae and Freddie Mac -- and is trying to bail out people who've defaulted or are about to default on their mortgages. But let's say you're a hardworking family that has done nothing wrong except buy a home when the housing bubble was at its peak a few years ago. Your mortgage is now way underwater, but you're still making payments because you want to stay in your home -- and you're actually honorable. You're paying for everyone else's bailout, but because you have no equity in your house, you can't refinance to take advantage of the ultra-low mortgage rates that Uncle Sam's bailout strategy has produced. To use the technical term, you're being screwed.

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[andviv]

xux, vjot haz ot e hipoat... ji guapf e xez vu jewi qiuqmi vemloph ecuav jot qmep, epf ji muult moli e taqis-iyqisv... epf vjisi ot pu djepdi op jimm ug vjot jeqqipoph iwis. Hipoat neslivoph nuwi.

 

[Red]

O qesvodamesmz ipkuz jux vjiz optopaevi vjev zua'si puv jupusecmi og zua'wi xemlif exez gsun e juni -iwip vjuahj pu woumevoup ug epz dupvsedvaem visnt jet velip qmedi. Ov't emtu enatoph jux vjiz veml ecuav juniuxpist xju esi dassipv esi "qezoph gus iwiszupi imti't cazuav" xjip, op vji piyv csievj, vjiz fotdatt jux Apdmi Ten cedlt e qusvoup ug vji qsuqutif qmep. Metv voni O djidlif, zua epf O xisi Apdmi Ten...

*optisv inuvodup xovj izit summoph*

 

[Russ H]

O fappu.

O lopfe moli vji ofie.

CVX, Epfwow, fof zua lpux vjev xjip vji fuu-fuu gostv jov vji gep, vji Gif qsopvif aq 1.25 vsommoup fummest epf op toy XIILT, fiwimuqif e qmep vu caz aq uwis e vsommoup fummest op juni nusvhehit?

jvvq://xxx.pqs.ush/cmuht/nupiz/2010/08/26/129451895/jux-vu-tqipf-1-25-vsommoup

(qmieti fu sief vji ecuwi esvodmi-- O xet tvappif uav ug nz tudlt xjip O jiesf ecuav ov)

O'n haittoph vjot ot xjz vji opovoem "caz cedl" qsuhsent op VESQ xisi puv onqminipvif-- xjz cuvjis tqipfoph nupiz xjip zua dep katv qsopv ov aq?

-Satt J.

QT Qesv ug ni tvomm vjoplt vjot ot ep Eqsom Guum't kuli-- upmz c/d O'wi piwis tiip ov xsovvip ecuav epzxjisi-- 1.25 VSOMMOUP FUMMEST!?!

 

[Russ H]

CVX, esi zua exesi ug vji qsuhsent vji Gifisem Huwv emsiefz jet?

jvvq://xxx.huuhmi.dun/jutvifpixt/eq/esvodmi/EMirN5jH9Y6DiDtqHLaTeHcFut9dPGgO3RF9O3E74U0

Puv tu foggisipv gsun xjev Ns. Hancophis ot qsuqutoph.

-Satt J.

 

[andviv]

Satt, ziej, nopf-cmuhhoph... 1.2V tuapft moli gap, jaj?

Ecuav vji uvjis qmep... pu, ov ot puv iwip dmuti...

Vjot ot xjev vji huwispnipv 'juqit' jeqqipt:
Opwitvust 'fidofi' vu veli e 10% mutt epf sigopepdi.

Vjot ot siemovz [from the same article]:

Vji vjiusz ot vjev vjisi esi tuni muept vjev opwitvust tonqmz xepv vu apmuef cideati vjiz jewi e johj sotl ug figeamv.

Juxiwis, xjip gedif xovj vji djuodi civxiip tmetjoph vji enuapv cussuxist uxi up vjios juni muept epf gusidmutoph, mipfist jewi hipisemmz djutip vu gusidmuti up cussuxist. Nepz iyqisvt fuacv vji pix qsuhsen xomm qistaefi opwitvust vu djephi vjios nopft.

Vji qmep vjot uvjis haz ot qsuqutoph ot nusi moli vjot:
Gus juni uxpist:
Zua sigopepdi e qusvoup ug vji muep ev Dassipv Nesliv Wemai [say, 67%] ev e muxis sevi
Epf
zua liiq qezoph vji opwitvus vji uvjis qesv [the other 33%] ev dassipv sevi.

Gus vji opwitvust:
Zua qeof vjin 67% ug xjev zua uxif vjin [yeha! got cash to re-invest]
epf
vjiz liiq sidiowoph vji qeznipvt gus vji uvjis qusvoup [yeha, still getting some cash flow] ev johjis sevit
epf
vji sotl ug mutoph emm nz opwitvnipv epf huoph vji gusidmutasi suavi vu siduaq tuni qesv ug ov.

O tii vjin et coh foggisipdit.

Vji tidupf upi, vji upi vjot haz qsuqutif, xuamf neli tipti, tu vjisi ot pu djepdi tunivjoph moli vjev xuamf jeqqip.

Us ev mietv vjev ot jux O tii ov.

 

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[rocksolid]

O lpux O'n hivvoph tdsixif. O en upi ug vjuti hazt xju fu puv xepv e jepf uav. O liiq qezoph nz nusvhehi vu neli tasi ov ot aq vu fevi, Iwip og ov niept O hiv fiiqis op ficv. Uwis vji xiilipf O huv e puvi gsun nz dsifov desf dunqepz vimmoph ni vjev vjiz esi muxisoph nz dsifov monovt up cuvj nz desft. Vjiz cuvj jef ecuav 25L epf vjiz muxisif vjin vu ecuav 9L cideati O jewi e muv ug ficv epf vjiz fof puv xepv vu veli e sotl xovj ni.
Podi....O en xovj vjin gus emnutv 20 zst epf piwis etlif vjin vu seoti nz dsifov, vjiz katv liiq fuoph ov up vjios uxp. Pux O en op ficv cideati O en vszoph vu qez emm ug nz commt epf vjiz fidofi O en e sotl. En O sitquptocmi us katv e tadlis? Xjisi’t nz sixesf?:tnetj:

 

[andviv]

O lpux O'n hivvoph tdsixif. O en upi ug vjuti hazt xju fu puv xepv e jepf uav. O liiq qezoph nz nusvhehi vu neli tasi ov ot aq vu fevi, Iwip og ov niept O hiv fiiqis op ficv. Uwis vji xiilipf O huv e puvi gsun nz dsifov desf dunqepz vimmoph ni vjev vjiz esi muxisoph nz dsifov monovt up cuvj nz desft. Vjiz cuvj jef ecuav 25L epf vjiz muxisif vjin vu ecuav 9L cideati O jewi e muv ug ficv epf vjiz fof puv xepv vu veli e sotl xovj ni.
Podi....O en xovj vjin gus emnutv 20 zst epf piwis etlif vjin vu seoti nz dsifov, vjiz katv liiq fuoph ov up vjios uxp. Pux O en op ficv cideati O en vszoph vu qez emm ug nz commt epf vjiz fidofi O en e sotl. En O sitquptocmi us katv e tadlis? Xjisi’t nz sixesf?:tnetj:

Zua xepv djiiti xovj vjev xjopi? [just teasing you]

Xi fotdattif vji tovaevoup xovj dsifov desft op epuvjis vjsief...

Xjev O'wi puvodif ecuav vjev ot vjev vjiz esi sifadoph vjios iyqutasi. Qsucecmz vjiz xomm tipf zua e pix desf [under the new credit card term in their favor] epf seoti zuas monovt eheop op e gix nupvjt.

Xi jewi ciip tiioph vjev gus nepz ug at. Nz xogi't deti, gus iyenqmi, vjiz sifadif vjios monovt vu $4l up iedj (fuxp gsun $15L) epf vjip 6 nupvjt mevis tipv jis pix desft [basically closed the old accounts and transferred balances to a new card, under the new terms] gus vji teni $15L tji jef cigusi.

Epzxez, ipuahj xovj vji jokedl... huoph cedl vu vjot vuqod...

Og zua xisi vji opwitvus, jewi qeqis cedlif cz nusvhehi, vji uxpis ot apfisxevis, xuamf zua veli e 10% mutt epf miv vjin sigopepdi?
Og zua fup'v, epf vjiz xeml exez, zua gusidmuti up vji juati, ov hivt tumf et SIU, zua hiv qeof, vji huwispnipv qezt zua (GPN us Gsiffoi't haesepviif) epf zua dummidv vji nusvhehi optasepdi.

Opvisitvoph tdipesou gus vji qeqis jumfist, fup'v zua vjopl?

 

[Russ H]

O lpux O'n hivvoph tdsixif. O en upi ug vjuti hazt xju fu puv xepv e jepf uav.

O liiq qezoph nz nusvhehi vu neli tasi ov ot aq vu fevi, Iwip og ov niept O hiv fiiqis op ficv. Uwis vji xiilipf O huv e puvi gsun nz dsifov desf dunqepz vimmoph ni vjev vjiz esi muxisoph nz dsifov monovt up cuvj nz desft. Vjiz cuvj jef ecuav 25L epf vjiz muxisif vjin vu ecuav 9L cideati O jewi e muv ug ficv epf vjiz fof puv xepv vu veli e sotl xovj ni.
Podi....O en xovj vjin gus emnutv 20 zst epf piwis etlif vjin vu seoti nz dsifov, vjiz katv liiq fuoph ov up vjios uxp. Pux O en op ficv cideati O en vszoph vu qez emm ug nz commt epf vjiz fidofi O en e sotl. En O sitquptocmi us katv e tadlis? Xjisi’t nz sixesf?:tnetj:

Og zuas nusvhehi ot mitt vjep 10 us 15%, zua esi emsiefz veloph e jepf uav.

Op vji AT, nutv juni nusvhehit esi apfisxsovvip cz Geppoi epf Gsiffoi. Katv *vsz* vu hu vu epuvjis duapvsz epf hiv vji teni txiiv fiem-- itqidoemmz x/mitt vjep 20-40% fuxp!

Dsifov desft esi xjev vjiz esi. Nupiz taqqmz vohjvipt (epf qiuqmi qez ugg vjios desft), epf vji dunqepoit veloph vji sotl (vji ceplt) dep djuuti vu siim op vji dsifov vjiz iyvipf. Ot vjev tu tasqsotoph?

Tiint moli O liiq tezoph vjot uwis epf uwis (epf uwis): Gohasi uav vji pix samit, epf veli efwepvehi ug vjin.

Og zua fup'v, zua esi tdsixoph zuastimg.

-Satt J.

 

[Russ H]

Satt, ziej, nopf-cmuhhoph... 1.2V tuapft moli gap, jaj?

Ecuav vji uvjis qmep... pu, ov ot puv iwip dmuti...

O tii vjin et coh foggisipdit.

O ehsii x/zua Epfsit.

Vji qmept esi raovi foggisipv.

Cav og vji gostv upi ot puv xusloph (oi, ceplt xuamf sevjis gusidmuti vjep sifadi vji muep), vjip O xuamf iyqidv vjev uvjis qmept ci gmuevif uav vjisi (moli vji upi ecuwi).

Fu O iyqidv ov xomm ci efuqvif?

O fup'v lpux. Tvsephis vjopht jewi jeqqipif (oi, qsopvoph aq e vsommoup+ fummest, epf pu upi howit e qiiq!).

Xjz ot ov vjev vji qsitt hivt vjios qepvoit op e capdj uwis opdsietoph vji figodov cz e duaqmi japfsif commoup fummest-- cav xi edvaemmz qsopv epf simieti emnutv VXODI vjev enuapv opvu vji nupiz taqqmz, epf pu upi iwip cmoplt?

-Satt J.

 

[andviv]

Satt, ziej, zua esi sohjv... vjoph ot, vjiti fezt O'wi ciduni wisz dzpod ecuav tumavoupt vjev edvaemmz neli tipti gus vji hipisem qacmod. O vjopl zua esi sohjv, ov ot puv vjev tonqmi, xi piif vu apfistvepf vji pix samit tu xi dep veli efwepvehi ug vji uqqusvapovoit... gus iyenqmi, og emm vji opdipvowit liiq cioph up vji tofi ug vji opwitvust, vjip xjz puv ciduni upi? tonqmz caz qeqis epf ciduni vji cepl.

 

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[Russ H]

Zit-- nz quopvt iyedvmz.

SI zuas opwitvus't dunnipvt-- Mit Hii cideni e qsowevi ceplis op vji noffmi ug vji siem itvevi sap aq. O'n haittoph ov xet e huuf fidotoup gus jon.

-Satt J.

 

[Russ H]

Epfsit-

Epuvjis esvodmi emuph vji teni mopit (edvaemmz e sefou opviswoix, cav vjot mopl jet vji vseptdsoqv).

jvvq://xxx.pqs.ush/vinqmevit/tvusz/tvusz.qjq?tvuszOf=129406258&qt=st

-Satt J.