The Mortgage Bailout: your thoughts - Page 2 - Mercedes-Benz Forum

Reply
 
LinkBack Thread Tools Display Modes
post #11 of 102 (permalink) Old 12-06-2007, 12:41 PM
BenzWorld Elite
 
Date registered: Nov 2005
Vehicle: 1996 210.020
Location: Adrift on a continent...
Posts: 3,972
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Jayhawk View Post
Before everyone jumps on the 'bifurcated cluster fuck' bandwagon, you might want to wait and see what actually is being proposed. I'll be surprised if the new law doesn't include solutions and requirements that address those issues which you have identified. This strikes me as the perfect opportunity to correct some problems that are inherent in the lending system.
Gladly. And when it becomes crystal-clear that it really is a "bifurcated cluster fuck," will we see you here saying, "You told me so."

Somehow, I doubt it.
Matt L is offline  
Sponsored Links
Advertisement
 
post #12 of 102 (permalink) Old 12-06-2007, 12:42 PM
BenzWorld Elite
 
Jayhawk's Avatar
 
Date registered: Aug 2005
Vehicle: S500/W220/2000
Location: Lawrence, KS (USA)
Posts: 21,652
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Matt L View Post
Gladly. And when it becomes crystal-clear that it really is a "bifurcated cluster fuck," will we see you here saying, "You told me so."

Somehow, I doubt it.
I call 'em like I see 'em...

And what I see as interesting here is that a bunch of Kookbergers, who ordinarily would be in favor of government involvement in every aspect of our lives--personal, social, financial, etc.--having a conniption-fit over this mild private-sector initiative that the President supports. Doesn't that strike you as odd?

Don't believe everything you think

Last edited by Jayhawk; 12-06-2007 at 12:47 PM.
Jayhawk is offline  
post #13 of 102 (permalink) Old 12-06-2007, 12:51 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Jayhawk View Post
Before everyone jumps on the 'bifurcated cluster fuck' bandwagon, you might want to wait and see what actually is being proposed. I'll be surprised if the new law doesn't include solutions and requirements that address those issues which you have identified. This strikes me as the perfect opportunity to correct some problems that are inherent in the lending system.
The problem is, most of the "problems in the lending system" are due purely to State and Federal regulators ignoring their charters and allowing predatory practices and fiduciary misconduct on the part of banks and mortgage houses.

These folks [lenders] are not suppose to, by law make loans to people who don't have the means to pay them back. Most states also have laws regarding loans on Spec Floating which are ignored daily. It is not a case of correcting the problems, unless you are speaking of firing many of the regulators, and their Administrators that failed to do their jobs over the past few years as they turned the mortgage market into the wild, wild, west.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #14 of 102 (permalink) Old 12-06-2007, 01:01 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Jayhawk View Post
I call 'em like I see 'em...

And what I see as interesting here is that a bunch of Kookbergers, who ordinarily would be in favor of government involvement in every aspect of our lives--personal, social, financial, etc.--having a conniption-fit over this mild private-sector initiative that the President supports. Doesn't that strike you as odd?
I love how a 1/3 of a Trillion Dolors input into the Financial Sector so far and now this is considered a "mild private-sector initiative". The problem with it is that businesses got to be stupid for half a decade and once their house of cards collapsed they get bailed out. Sounds somewhat like the Savings and Loan Debacle of the 1980s. There were a couple of Bushes involved there too.

Savings and Loan Crisis - Wikipedia, the free encyclopedia

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #15 of 102 (permalink) Old 12-06-2007, 02:07 PM
BenzWorld Elite
 
Date registered: Mar 2006
Vehicle: 1999 ML320
Location: Ratville
Posts: 24,029
Mentioned: 1 Post(s)
Quoted: 310 Post(s)
Open up your umbrellas, folks.
mlfun is offline  
post #16 of 102 (permalink) Old 12-06-2007, 02:09 PM
BenzWorld Extremist
 
Misfit's Avatar
 
Date registered: Nov 2005
Vehicle: '09 B200, '05 Smart
Location: Ontario - Canada
Posts: 980
Mentioned: 0 Post(s)
Quoted: 1 Post(s)
Quote:
Originally Posted by drewprof View Post
What're your thoughts on this mortgage bailout?
What are the details ?

Unless there is some tightening the screws on credit - it would be worthless -

Prob withthe mortgage ??? bailout!!!!

no risk !!!!

you can see where that will go
Misfit is offline  
post #17 of 102 (permalink) Old 12-06-2007, 02:20 PM Thread Starter
DP
Moderator
 
DP's Avatar
 
Date registered: Aug 2002
Vehicle: 190E, 400E, SLK350
Location: Chesapeak Bay
Posts: 64,125
Mentioned: 2 Post(s)
Quoted: 991 Post(s)
Lifetime Premium Member
(Thread Starter)
Quote:
Originally Posted by mlfun View Post
Open up your umbrellas, folks.
Please elaborate so that we may learn something
DP is offline  
post #18 of 102 (permalink) Old 12-06-2007, 02:27 PM Thread Starter
DP
Moderator
 
DP's Avatar
 
Date registered: Aug 2002
Vehicle: 190E, 400E, SLK350
Location: Chesapeak Bay
Posts: 64,125
Mentioned: 2 Post(s)
Quoted: 991 Post(s)
Lifetime Premium Member
(Thread Starter)
Quote:
Originally Posted by Misfit View Post
What are the details ?

Unless there is some tightening the screws on credit - it would be worthless -

Prob withthe mortgage ??? bailout!!!!

no risk !!!!

you can see where that will go
Basically some rates that would have adjusted this or next year got locked for the next five years. This means that some people that got mortgages with teaser rates are going to enjoy those "low" monthly payments while keeping their houses/investments.
Here are the problems I see:
What's up with the contractual agreement that both parties signed? Someone got shorted here and some of you might say, hey those lenders deserve it but you are forgetting that this is a government intervention, so what's next? Getting A's for failing students so we can show the world we have a world class education system?
Next, how about negative amortization? This ain't no free lunch! The same people this stupidity is supposed to help are going to suffer when they find out that their principal went up even higher at the end of five years. It will be even worse if the real estate market didn't pick up some steam towards a price appreciation. Five years from now the problem will be worse
DP is offline  
post #19 of 102 (permalink) Old 12-06-2007, 02:40 PM
BenzWorld Elite
 
Date registered: Mar 2006
Vehicle: 1999 ML320
Location: Ratville
Posts: 24,029
Mentioned: 1 Post(s)
Quoted: 310 Post(s)
Something is going to fall from the sky..good or bad , that is the question.
mlfun is offline  
post #20 of 102 (permalink) Old 12-06-2007, 02:44 PM Thread Starter
DP
Moderator
 
DP's Avatar
 
Date registered: Aug 2002
Vehicle: 190E, 400E, SLK350
Location: Chesapeak Bay
Posts: 64,125
Mentioned: 2 Post(s)
Quoted: 991 Post(s)
Lifetime Premium Member
(Thread Starter)
Quote:
Originally Posted by mlfun View Post
Something is going to fall from the sky..good or bad , that is the question.
What is your opinion? Is the sky falling? Do you see a problem with Bush's move on this issue? Do you think he did the right thing? Do you think this was well thought out or you simply don't understand this stuff but you like to comment anyway just to see what would fall from the sky?
DP is offline  
Sponsored Links
Advertisement
 
Reply

  Mercedes-Benz Forum > General Mercedes-Benz Forums > Off-Topic

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Mercedes-Benz Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











  • Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
     
    Thread Tools
    Show Printable Version Show Printable Version
    Email this Page Email this Page
    Display Modes
    Linear Mode Linear Mode



    Similar Threads
    Topic Author Forum Replies Last Post
    The Mortgage Lender Implode-O-Meter Chaw Off-Topic 13 09-07-2007 07:53 AM
    Hey Prof, how is the mortgage business going? maine_coon Off-Topic 61 03-19-2007 11:43 PM
    Mortgage Biz? DP Off-Topic 10 01-04-2007 05:36 PM
    Mortgage Interest Deduction getting chopped? firstmb Off-Topic 0 11-05-2005 09:33 PM
    Can I get a 30 year mortgage on this? Steve420SEL W126 S,SE,SEC,SEL,SD,SDL Class 3 08-14-2004 09:19 PM

    Posting Rules  
    You may post new threads
    You may post replies
    You may not post attachments
    You may not edit your posts

    BB code is On
    Smilies are On
    [IMG] code is On
    HTML code is Off
    Trackbacks are On
    Pingbacks are On
    Refbacks are On

     

    Title goes here

    close
    video goes here
    description goes here. Read Full Story
    For the best viewing experience please update your browser to Google Chrome