if it was a small property and i had a lot of money, id be happy for the neighbor to foreclose...then id buy the property, tear down the house, and build a basketball court
Ah, so you just want other people to suffer. They're NOT getting a better rate than you, just a better one than the bloodsucking mortgage companies escalate them to. It's not like the bailout is a 3% rate. They're probably going to get something in the neighborhood of 6-7%, allowing them and their kids to stay in the home. Relax, though. I'm sure some of them won't make it anyway, and their families will be out on the street. That should make you happy. You're a real ty, small person.
You are out of line.
And just like Chumpdumper, you're making assumptions.
I don't want those people to be on the street. I never said that.
Ken asked if we'd be upset knowing that our irresponsible neighbor got a better rate when bailed out.
My answer was, "Yes. And I'd look for a better rate."
I like your thinking
You left out your little tantrum from that post.
First, it's $225k, it's household income (wife makes more than me), it'll be less next year since she is going to ease up her schedule finally, we both come from families that made under $40k, we came up with the 15% down plus closing costs 8 years ago when household income was $65k, I drive a seven year old truck (paid for), just bought (cash) a new LCD big screen after owning a 27" peice of crap from montgomery ward for 11 years...mostly we just work hard and try to forego spending our money on crap and save as much as we can.
I could go on but you should be getting the point. So spare me the class warfare bull . Spare me the cry for sympathy that people aren't going to be allowed to live their lives in debt bull . Anyone who wants to buy a house with no money down and even finance closing costs is a ing idiot. I'll have a hard time feeling sorry for them. And yes I have friends who are living that way. Friends that make $80K, have kids, have nicer homes homes than me, are constantly driving new cars, buy every new electronic toy because they just have to have it. And even though they are friends and I care about them, I'm not going to feel sorry for them when it all comes crashing down around them. It's inevitable and it was their CHOICE!
There wasn't a "tantrum" until people like you started attacking me (and putting words in my mouth) because I have a problem with having near perfect credit and not being able to get a better rate, while a neighbor with financial problems gets a better rate.
you could also pull a samuel l jackson on them
No, your tantrum was in the same post as your answer.
Damn I hate you, richer!
I'm a banker, and although it's in canada, I think it's the same with what you have in USA and I can't believe a person with near perfect credit might have trouble getting a loan unless you wanted an expensive house that you couldn't afford.
What an awful way to live: wrapped up in what other people have, what other people are doing or getting. That's elementary school stuff: she got the bigger cookie or the fuller glass of kool-aid. Sad.
I'm happy for you. I think it's awesome that you and your wife have gotten everything that you've worked so hard for. Seriously. Kudos!
And I'm in the same boat you were in years ago.
I work hard. I make a decent living, but I'm never going to get rich in my profession, but I accept that.
I'm working my way out from the mistakes I made when I was younger...and I'm doing it on my own.
I never said I have a problem with people making money. CD was putting words and assumptions there that never were.
I was just saying that, coming up with a 15% down payment isn't really an option for someone making $50,000/year. Well, OK...it IS possible. That wasn't my point.
15% down is a LOT for most people.
Someone making $225,000 would most likely have an easier time.
But, I never said you should have sympathy for those who got themselves into debt.
How much lower a rate do you think you're going to get? That's close to the all time low, and certainly probably not worth a re-finance even if you could find that rate.
OK. I did NOT have a problem getting a loan. I want a better rate.
And NO...I did NOT buy a house I couldn't afford. It's well within my means.
Truly, I'm done talking with any of you.
If anyone wants to have a grown up conversation where you aren't slinging insults and calling people ty and small simply because they want a better rate for a loan because they were responsible...then we can continue.
But this is complete BS. People putting words in my mouth that were never said.
I guarantee that, if this was done to you, you're argue just as hard. Call it a "tantrum," if you want. But I was defending my point of view.
You said "Just recently, I was looking for a house, and it was EXTREMELY tough to get a loan." That's what I based my comments on.
And this isn't about cookies or kool-aid. you're being ridiculous. When the difference is possibly hundreds of dollars a month, you're damn straight I want the rate my neighbor has.
It IS tough to get a loan right now...but mostly because you're expected to out a sizeable down payment.
I can understand that for people who have had problems making payments in the past and have a bad credit score...but for someone who has never been late or missed a payment, and for someone with a near perfect credit score...I should at least be able to get better rates.
Isn't that supposed to be one of the perks of having good credit?
Having a great credit helps getting a loan faster with little to no downpayment. The rate is negociated based on other factors.
Your neighbor got a rate below 6% on a 30 year note?
Or is this just another lie to get people to feel sorry for you, like "I can't get a loan" when you already have one at a great interest rate...
Buy it, and rent it back to him.
Your problem of getting loan is not even a problem, just a lack of creativity. There are plenty of desperate sellers that would be willing to pay your down payment just to get rid of that house... especially if they have equity built up in that home. Talk to any seasoned sales agent and explain your situation and he should have no problem working some creative financing for youI didn't try those avenues!
I decided to take my place off the market and just stay put for now.
It ended up being a good decision.
So, right now...with the market being the way it is...how would someone with good or excellent credit go about getting a better rate?
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