Houston Mayor wants to pay off people's credit cards

[Razorguns]

Re: Houston Mayer wants to pay off people's credit cards

Ya know, if I knew this - I would've ordered 10 credit cards, maxed them out last year - and then let all you bozos pay for my new plasma tv's and vacations in Europe. Ha!

Keep the socialist state going baby boomers. Continue fucking up the country for tomrorow's generation. I'm sure they'll remember this when you're 80 and need retirement money.

r

 

[jnevin]

Re: Houston Mayer wants to pay off people's credit cards

Due to irresponsible lending. Thats what got us here. I bet they didnt take debt to income ratio into consideration like they are now that they arent being paid. Adjustable rate mortgages that automatically reset and then refinancing said person also got us here. Not some inflated credit score.

lol dude

Of course the Dr was taken into account. Fannie, Freddie, and Ginnie all have DR limits. People could also state their income, but that's on them if it checks out with mysalary.com. I love the irresponsible lending POV. Like these fucking idiots didn't realize they were borrowing irresponsibly. Nobody held a gun to their head and said "borrow as much as you can and keep your payment as low as possible so you're fucked when the market tanks." Really bro.

 

[puddlemonkey]

Re: Houston Mayer wants to pay off people's credit cards

Due to irresponsible lending.

I blame jnevin.

 

[jnevin]

Re: Houston Mayer wants to pay off people's credit cards

I blame jnevin.

I loves me some predatory lending.

 

[galaxy]

Re: Houston Mayer wants to pay off people's credit cards

The lending companies were doing the same thing. Lending more than they should and creating a false sense of wealth for themselves just like the average consumer was doing.

It was a way of life for everyone. Why wouldnt people refinance and charge? Thats just what Wachovia and Bank of America were doing.

I think its sickening that your using the avg consumer as the scape goat, but I guess thats the Libertarian in me.

 

[galaxy]

Re: Houston Mayer wants to pay off people's credit cards

Oh and the gun put to there head is called the "American Dream" To call the majority of Americans "idiots" is a pretty ignorant POV imo. The big picture doesnt start with the lowly consumer. Starts with the CEO who's pocketing $500million dollars while his company goes about financing $400k homes for people who make $40k a year.

And you do realize were talking about Monopoly money here? This in no way affects retirements unless thats how some Republican decides they want to spin it.

 

[jnevin]

Re: Houston Mayer wants to pay off people's credit cards

The lending companies were doing the same thing. Lending more than they should and creating a false sense of wealth for themselves just like the average consumer was doing.

It was a way of life for everyone. Why wouldnt people refinance and charge? Thats just what Wachovia and Bank of America were doing.

I think its sickening that your using the avg consumer as the scape goat, but I guess thats the Libertarian in me.

You've got to be kidding me with this scapegoat bullshit. The borrowers are the ones that provided the information and borrowed the money. You want banks to do something that costs an average of $8K per loan for free? Know what you're talking about bro. You're good people.

 

[galaxy]

Re: Houston Mayer wants to pay off people's credit cards

You have to be fucking kidding me? YOu borrow 120k and end up paying back 225k and your talking about some 8k number? Are you high? The banks dont even pay there creditors and couldnt get anybody to even lend to them and when given stimulus money they increase interest rates, dont lend money and lower consumers available credit. Doing the exact opposite of what they were supposed to do.

Bro your pro stance on govt and banks is killing me.

 

[galaxy]

Re: Houston Mayer wants to pay off people's credit cards

You seriously dont relate to 80% of America with your attitude.

 

[jnevin]

Re: Houston Mayer wants to pay off people's credit cards

You seriously dont relate to 80% of America with your attitude.

It's got nothing to do with what I think people should be paying back. It's got everything to do with what they agreed to pay back according to the terms. They had 3 business days on a refi to change their minds. It was as fair as fair could get. they just got buyers' remorse.