Re: OT: Inflation in the US

John Larkin wrote:
On Sat, 19 Jan 2008 11:53:44 -0800, Joerg
<notthisjoergsch@xxxxxxxxxxxxxxxxxxxxx> wrote:

I mean, look at the latest development. Using their own homes as automatic teller machines is, sorry for my plain English here, just plain stupid. And it's primarily the people who dunnit, not just the fault of some greedy corporation. Because they signed on the dotted line and (most) can read.


I bought my own home, had to move and sell and purchase a few times in the interim. This made me an unwilling participant in the "housing/property" manipulations. Don't think I didn't look at those around me who thought this "game was a good idea!" In fact, I told quite a few--they just smiled and knew better.

Too many people inherited a house, long ago paid for, and 2nd
mortgaged it for cash, and blew the cash on Princess Line cruises and
Porsche Cayennes. And people bought houses for zero down and, based on
bogus assessments, signed up for a 2nd or 3rd and took out cash *at
closing*.


I will have to take your word for that. I am fifty-five, have two sisters, my father passed recently from cancer, mom is still alive. When she dies I will inherit 1/3 of a home and one third of their savings which have been ridiculously ravaged by inflation--basically, just the home... I consider myself lucky, and not because of the home--because my mom is still alive. I strongly worry about the priorities of anyone seeing this differently ...

And none of them can afford the payments now. Nature has always
punished the combination of greed and stupidity.


Now that I really don't need it, I guess when my mom dies, I could buy out my two sisters and own that home. Frankly, it wouldn't make sense in my situation ...

John

Regards,
JS

.

Relevant Pages

  • Re: OT: Inflation in the US
    ... automatic teller machines is, sorry for my plain English here, just plain stupid. ... mortgaged it for cash, and blew the cash on Princess Line cruises and ... Rush Limbough once said that most of those who signed the loan docs must have committed one or both of these: Lied on their taxes because the income was indeed higher than declared, or lied on the loan app stating an income that really wasn't there. ...
    (sci.electronics.design)
  • Re: OT: Inflation in the US
    ... automatic teller machines is, sorry for my plain English here, just ... plain stupid. ... mortgaged it for cash, and blew the cash on Princess Line cruises and ... And people bought houses for zero down and, ...
    (sci.electronics.design)
  • Re: OT: Inflation in the US
    ... automatic teller machines is, sorry for my plain English here, just ... plain stupid. ... Lied on their taxes because the income was indeed higher ... The vehicles were both wrecked ...
    (sci.electronics.design)