Comments on: Save yourselves, Wall Street

By: mothergoosemouse

mothergoosemouse — Fri, 26 Sep 2008 18:24:09 +0000

MM, you make a good point about “stated income” vs. “full doc” loans.

By: midlife mommy

midlife mommy — Fri, 26 Sep 2008 17:53:38 +0000

I read somewhere today that if the government wants to hand out fistfuls of money so that we can save ourselves, perhaps they should give it to us so that we can pay off our mortgages, credit card debt, etc. and skip the middle man altogether. Snarky, I know.

This who thing scares the cr*p out of me. Why wasn’t anyone listening in 2005 when the warning bell was sounded? And, why weren’t the proposed 2006 regulations passed? Holy cow — when I bought my first house in 1990, I had to prove everything. Not so a few years later. Scary, scary stuff.

midlife mommys last blog post..You Be The Parent

By: Kendra

Kendra — Fri, 26 Sep 2008 16:57:18 +0000

Couldn’t agree with you more.

Kendras last blog post..Just one little smile

By: heels

heels — Thu, 25 Sep 2008 21:45:10 +0000

Right on. I’ve just been sick about this, as I’m sure most people have lately.

By: Gwen

Gwen — Thu, 25 Sep 2008 19:27:25 +0000

I totally agree with you! So, why have we been paying down debt and making good financial decisions all this time? Only in the land of unaccountability…

By: Sarah

Sarah — Thu, 25 Sep 2008 17:00:25 +0000

I’m pissed too. That is all.

By: Write From Karen

Write From Karen — Thu, 25 Sep 2008 14:55:34 +0000

Here-freaking-here.

Yet another reason people need to get out of debt and pay their homes/cars off; we did.

We’re debt free largely due to the fact that I worked nights, for years, and functioned without sleep, for years.

When did it become the norm to live beyond our means? It’s crazy.

By: HeatherY

HeatherY — Thu, 25 Sep 2008 01:43:48 +0000

The whole situation is so frustrating. I agree with you and all of the other comments as well. Why is it our responsibility to bail these lenders and buyers out? We too have had our house on the market in an effort to move closer to family. However, with the way the market is, we are throwing in the towel until things get back on track. I can’t imagine how frustrating it must be for those who have to sell right now.

It is good to see Repubs and Dems agreeing that this bill has serious issues. I don’t know what the hell the Bush Admin is thinking. I hope they can keep this bill from reaching the floor of Congress. It is ridiculous.

Okay, I’ll get off my soapbox now. Great post.

HeatherYs last blog post..Wordless Wednesday

By: mayberry

mayberry — Thu, 25 Sep 2008 01:35:48 +0000

It’s scary. I can’t believe the number of houses for sale on my street.

And the salaries of the Wall St. big shots. I can’t believe them either.

mayberrys last blog post..Pop, swap, sweet!

By: Mitzi

Mitzi — Thu, 25 Sep 2008 00:31:25 +0000

amen to that. when we started our foray into homeownership last spring, a lender pre-approved my husband for a sizable loan based on his salary alone–the monthly payment would have been more than 3/4 his monthly salary. luckily i was no property virgin and knew better–but too many people don’t and think “surely the bank wouldn’t loan me more than i could afford to pay, right?”

yeah. right.

Mitzis last blog post..And this post will prove it.*