On Tue, 17 Jan 2017 13:02:21 -0500, wrote:

On Mon, 16 Jan 2017 22:34:43 -0600, Leon lcb11211@swbelldotnet
wrote:

On 1/16/2017 8:23 PM, wrote:
On Mon, 16 Jan 2017 19:52:39 -0600, Leon lcb11211@swbelldotnet
wrote:
satisfying whiners

But, using your previous examples, the diffrence is 8.5% over three
years. Not much.

Explain that to those that are loosing their homes. Do you understand
the concept of living from paycheck to paycheck. Typically means if you
are living on the edge.

Sure, I do but I'm not buying your story. If people are losing their
homes, there is something else going on besides an 8.5% increase in
their monthly housing cost. The utilities are fixed cost, too?



It is a hell of a lot if 8.5% is a large number to begin with and your
pay has not gone up.

Deliver pizzas one night a week. Drive an Uber. Why aren't you
ragging on their food budget?

You are preaching to the choir.

No, I don't get into other's business. They're adults. Sink or swim,
it's the same to me.

...

Fanie May, CountryWide? or something like that. These lenders had
government guaranteed money to give out loans to any one. A great
number of these people would not qualify for these loans today, with the
same income.

Oh, I thought you meant that the borrowers were somehow guaranteed a
loan. The loans are guaranteed but there are still standards for the
underwriting of those loans.

Yes but there was tremendous amount of looking the other way and
suggesting what to put on the application.

There is no "looking the other way" anymore, if there ever was. A
credit report tells just about everything about what's owed. No-doc
loans are a thing of the past.

One of those is that the PITI, plus all
other credit, can't be above something like 30% of income.

If they're going bankrupt, the problem isn't the taxes on their home.

I beg to differ, if you do not have a hundred dollars to spare each
month a $1200 tax increase puts you over the edge.

I repeat. There is something else going on that they're not telling
you. Check for a boat in the driveway?

Or a gambling problem, or too many Cigaraettes, or booze, or a
mistress,, Lots of "money holes"

And then you have to add an increase on insurance as when the value of
the house goes so does your insurance premium, a requirement of the lender.

And one more little tid bit. Our homes started going up significantly
when our neighborhood was built out a few years ago. There is still a
lot of wide open spaces near us that is being developed and hardly any
of these houses are going for less than $250K for 1600 sq ft.

There are still developments here advertising "starting in the $140s".
They're all postage stamp lots but they look to be in that size range.
There are also many "starting in the $400s" (and, of course, higher
but they don't advertise the same way).


Well moving from a $300K home to a $150K home is beneath these people.

Ultimately I am not saying that there is not a way to prevent all of
this but some people will live in a home until their savings runs out
and are foreclosed on. They have an image to uphold and no money sense.

I don't think this is nearly as common as it was ten years ago. Money
is still pretty loose but not *that* loose.