June 24 average daily rates in Orange County for 30-year fixed loans with one-point fee: Conforming up to 6.078%, Jumbo up to 7.446% and Conforming-Jumbo up to 7.208% (Note: conforming-jumbo rates are for loans from $417,000 to $729,750, while conforming is up to $417,000 -- both types are sold to GSEs. Jumbos here are $730,000 or higher and not sold to GSEs.)
Source: Newspaper Chart Services 
Good credit, good job but still need mortgage aid? Maybe…
May 23rd, 2008, 12:01 am · 76 Comments · posted by Matt Padilla, Register Reporter and Blogger
Credit counselors say lenders are now willing to work with borrowers who have trouble paying their mortgage, even if they have good credit and are current on their payments. That’s a big shift from the housing boom when most of the time homeowners had to start missing payments, and thus ding their credit, before a lender would even talk about cutting a deal.
But borrowers still have to work to get a hold of the right person and lobby their case, experts say.
This Sunday I have a story coming out on the trend of prime borrowers struggling with exotic mortgages. Even with record foreclosures, if these borrowers and lenders can’t work something out, more vacant houses are sure to pop up in Orange County.
Here’s a tale of two homeowners from my story (first photo of Deborah Wilmoth taken by H. Lorren Au, Jr):
Deborah Wilmoth, of Rancho Santa Margarita, is struggling with an option adjustable-rate mortgage. She has been making the minimum payment, with deferred interest adding up each month. She refinanced in February 2006, and after more than two years of making minimum payments she now owes about $43,000 more to the bank than we she started, for a total of around $400,000.
“It’s getting out of hand,” Wilmoth said. “I don’t want my credit to go bad.”
Wilmoth, 53, a project management specialist for Boeing, said she paid a $495 fee to her lender Wachovia to temporarily lower her interest rate, but her monthly payments remained the same. For one year, she won’t have as much deferred interest tacked onto her debt.
Beyond that, Wachovia hasn’t helped, she said. Wilmoth has taken on a second job at a youth shelter to pay her first loan with Wachovia and a second mortgage for about $100,000 with Wells Fargo, she said.
Aimee Worsley, a Wachovia spokesperson, said her company is working with Wilmoth, but can’t comment beyond that out of respect for consumer privacy.
“We want to keep all of our borrowers in their home,” Worsley said. “That is always our goal.”
(Below is photo of Phong Le with daughter Justine Le taken by Rose Polmisano)
Phong Le, also of Rancho Santa Margarita, is another homeowner with good credit who took on more mortgage than he can afford. Although he and his wife earn more than $100,000 a year, Le said they have to dip into their savings each month to pay their interest-only mortgage totaling $592,000 as well as for child care and other expenses.
Le said he has contacted Flagstar Bank, which services his loan, and offered to pay a fee to lower the rate on his mortgage. Le says he doesn’t want something for nothing: he is willing to pay the same fee one pays when getting a loan to lower the interest rate.
But no one in Flagstar’s loss mitigation department will help him, partly because he is current on his mortgage, Le said.
Calls to Flagstar were not immediately returned.
May 23rd, 2008 at 6:00 am
No pity here.
May 23rd, 2008 at 6:43 am
HOLD ON A MOMENT!
These are the exact people that drove up the price of real estate in Orange County, and they are the precise reason why I’m renting. They want their cake and icing too.
Well!
I have NO SYMPATHY for these home debtors … they should pay the price by eating rice and bread, driving old cars, etc, or they should start over by mailing the keys to the bank and become renters like me.
May 23rd, 2008 at 6:57 am
“Beyond that, Wachovia hasn’t helped, she said. Wilmoth has taken on a second job at a youth shelter to pay her first loan with Wachovia and a second mortgage for about $100,000 with Wells Fargo, she said.”
WTH…she can’t make her first lien but she gets a second mortgage? Totally irrational!
Man this crisis is going to take a looooooooong time to pan out!
May 23rd, 2008 at 8:30 am
How can dual earnings of $100K qualify for a $592K mortgage???!!! The old rule of thumb was 2.5 X Income = Mtg AMT. Granted interest rates and total debt could influence that total… but housing expense should never exceed 33% of your income!
May 23rd, 2008 at 8:50 am
I agree with Dina and Lee, No pitty or sympathy here. That fountain in the front yard in the first picture looks nice!
May 23rd, 2008 at 9:07 am
I love how lenders’ idea of ‘help’ is to convert some future interest into junk fees for the borrower to pay with whatever cash they have now.
Banker: “You’re feelin’ nervous about your future payments? Good, so am I. How about you pay some more right now instead of in the future? Win-win, right?”
May 23rd, 2008 at 9:16 am
These people are losers
May 23rd, 2008 at 9:21 am
These people think that just because they have jobs they can afford their mortgage.
They have way more mortgage than they can afford (absent any large outside chunk of change they might have). They aren’t amortizing (IO) and for the one even adding on each month (neg-am).
If they can’t afford a fully amortized mortgage they can’t afford their home. It is that simple.
May 23rd, 2008 at 9:30 am
HELLO, OVERWHELMED BORROWERS: return your house and start renting.
1. You were not supposed to buy something you couldn’t afford to begin with and now you are just back to where you were before all this started.
2. Yes the lender had “great rates”, but only because you asked. You honestly thought you could afford a $600,000 home on your salary?
3. You put $50,000 down and now you lost all that money. Guess what? The bank put $550,000 on you and now that you’re walking away, they are losing $150,000. You are not alone in this loss - everybody is losing so don’t think you should be treated any more special. The bank also screwed up and they are paying the bubble piper as well.
People make mistakes. You learn, you move on and don’t do it again. You have a great job, you won’t be homeless, you’ll be renting and living much more stress free. Pretend the house never happened just like the bank is pretending you and your loan never happened.
May 23rd, 2008 at 10:18 am
These people are pathetic. The minimum payment on an option arm is a below market payment. It does not even cover the current months market interest. Who do these people think they are that they are entitled to below market rates for the life of their loans? If they cannot afford to pay the full amortizing payment they had no business buy a property. Pathetic Loser!
May 23rd, 2008 at 10:28 am
Anyone who took out a IO mortgage is a sucker and unfortunately is going to struggle do to their consequences.
It’s like taking out margin account with your broker but not understanding the potential consequences.
May 23rd, 2008 at 11:44 am
It’s rude to call these people losers. They are obviously dealing with the consequences without personal insults added on. Lenders and servicers should do what they can to restructure mortgages as needed, especially if the borrower is willing to do so. This includes refinancing at today’s rate or modifying the loan type as needed to keep the borrower paying and in their home.
May 23rd, 2008 at 12:45 pm
AsIseeit:
A refi would require an appraisal coming it at the price they bought for. Not happening. Next.
May 23rd, 2008 at 12:59 pm
It’s still hard to believe that people didn’t realize making a 1% interest rate payment each month would have negative implications (no pun intended).
I mean seriously, if the going rate is 5-6%, you have to pause and say wait, why am I privileged enough to be paying just 1%?
People need to read the fine print and understand what it is they’re getting into…homeownership is serious business.
At the same time, lenders should do their part to fix these rates because they incentivized these very option arms above all else, without question…
May 23rd, 2008 at 1:25 pm
With all of the foreclosures and defaults in the pipeline, I really don’t understand why borrowers should think that banks would want to work with them before they start missing their payments. I think this situation is pretty clear. You sign a loan for a $600,000 house; you make the payments on that $600,000 house. Why is it incumbent on a bank to make your terms easier on you than what you agreed to originally?
I chose not to buy in 2004 knowing that even a $550K dump was more than I should take on financially. My financial situation is now even better. I’m waiting for interest rates to go through the roof as the Fed decides that $5 per gallon of gas is unsustainable and it’s time to fight inflation and bolster the sagging dollar. I’ve rented and dealt with rude, inconsiderate landlords for the past 4 years. These people have had the opportunity to live in a home for probably about the same amount as I’ve paid in rent monthly. Why should they be allowed to pay less than they owe for the foreseeable future? You signed the mortgage agreement; you make the payments. It’s as simple as that.
May 23rd, 2008 at 2:56 pm
I agree with Lee in Irvine: these people and the rest of the buyers are the reason my family of four remained in a one-bedroom condo that we owned for six years while all this nonsense went on. We just sold that condo for a profit and are now waiting for prices to drop a bit more before we finally get into a house we all fit in. We have been very patient and I don’t believe that these people are more deserving than we are. Why do they deserve help by jumping ahead and buying something they couldn’t afford, while we don’t get any help because we were patient and waited and saved our money?
May 23rd, 2008 at 3:33 pm
The only people that are LOSERS are those of you on this board calling people you don’t know and who are going through financial difficulties, losers! People make mistakes. If all of you were such financial geniuses you wouldn’t be posting here everyday and thumbing your noses and laughing at those who may have made critical mistaken decisions. You would be off making your own millions and wouldn’t have time for such mundane and unproductive enterprises as trying to always be RIGHT and patting yourselves on the back saying “I told you so” in every post. I can honestly say that a person whom would “LOL” at anothers problems whether self-inflicted or not is someone I would never want to know. Do you “LOL” at news of dead Marines in Iraq too? They “made a decision” to join the military. Don’t they somehow “deserve it” in your twisted way of thinking? These home”debtors” as you derisively put it thought they could become homeowners and afford it…they were wrong ultimately and they either had bad advice or like 98% of the people I first see in my business, have no clue about personal finance and thought nothing more than “monthly payments” today and forgot about tomorrow. And for that you LAUGH at them and call them names? Like I said, the only pathetic losers around here are YOU!
May 23rd, 2008 at 3:41 pm
If we all forgot about tomorrow where would this country/world be? At least some of us are taking the time to educate ourselves about matters that will affect our tomorrow.
May 23rd, 2008 at 3:56 pm
Larry P. A Marine serving in Iraq is a person of honor. Trying to get sympathy from other because of your own greed is not comparable to serving in Iraq. An honorable person sees their commits through. — former Marine
May 23rd, 2008 at 4:09 pm
Larry P,
The dead marines (or other military personnel) in Iraq are admired because they did a noble thing by signing up to defend our country.
Certainly there are benefits and risks surrounding joining the military.
But your comparison of a person who makes a reckless financial bet on future home appreciation (and who cannot pay the bank when that bet goes badly) to someone who joined the military is just absurd and in poor taste.
A better comparison would be someone who signs up to join the military (for the anticipated benefits) but then does not go to serve their country once they are called for duty.
It may be in slightly poor taste to “LOL” at someone who is struggling as a result of a bad financial decision, but the “LOL” is not so much about the initial bad decision, it is about the attitudes of those who are not willing to take responsibility for their decision and feel entitled to bank or government relief in the form of the “mortgage aid” they claim to need.
I have family that has served in Iraq, and thankfully is home now. Leave our soldiers out of this. It is not at all inconsistent to respect our soldiers (living and dead) for their sacrifices and to be frustrated with the people in the article for an apparent attitude that suggests they deserve our sympathy and a bail out.
May 23rd, 2008 at 4:57 pm
Someone who bought a house that they could not afford, with a mortgage they did not understand, is not necessarily a “loser”. Optimistic? Yes. Naive? Probably. Stupid? Perhaps.
The losers are the ones who do it and then expect someone to else to fix it for them. Instead of just accepting the fact that they made a mistake and move on, they whine that the mortgage company won’t help them. They all have jobs and can go back to renting.
May 23rd, 2008 at 6:10 pm
Lemonlou and rix,
Thank you for completely missing the point of my post…most people here are myopic and only see what they want to see and read only that which appeals to their world view and it appears that you both fell into this same trap.
Rest assured, I am NOT comparing people with low financial IQ and bad planning to our military overseas…so simmer down and pay attention to what was ACTUALLY the point: That many people on this board rejoice at the financial hardships of others (including YOU Lemonlou). Many people on this board blame (and often rightfully so) folks’ decisions these past few years in Real Estate and most importantly, Real Estate financing choices. They make fun of them….call them names for these decisions(lemonlou). My point was that only CRETINS and abject LOSERS make fun of people they don’t know and find pleasure and enjoyment in their family’s failures. In my post, I merely wondered if those same cretins applied that same “It was their decision therefore it is their own fault” logic to our all-voluntary military? Pretty simple when you actaully think about it which you two apparently were too busy trying to defend our military to notice I wasn’t comparing them to homeowners…sorry if I made it too difficult for you all to understand!
And Lemonlou, nice way to call these people “greedy” after calling them “pathetic losers”…do you know them? Or are you just drawing your own conclusions based on your limited “world view” of anyone who bought a home or got these types of loans? You talk about an “honorable person sees their committments through” and yet neither of these people are doing what so MANY (and they know who they are) that have posted here on this very thread have advocated elsewhere: Just Walking away! Do “honorable people” make fun of people going through hard tmies, self inflicted or not? You learn that in the Marines, Lemonlou? I doubt it! Heck, the lady is looking at taking a 2nd job so she can keep her mortgage comittments and the gentleman is trying to work with his lender to continue paying current on his home as well…seems like two pretty “honorable” things to do to me! Or would it be more honorable to just live “payment free” for the next 7 months until the Sheriff comes to physically take them out? That would mess up their bank, their neighbors, and the overall economy yet from the sounds of it, they are trying hard to avoid all of this. Seems to me, if MORE people thought and acted this way after making bad financial decisions, we wouldn’t have all these foreclosures…but then I’m just old fashioned….I think the people that CHOOSE to walk away from their otherwise affordable mortgages along with those that advocate such behavior are the “Dis-Honorable” ones…the losers and cretins if you will! Don’t you, lemonlou?
And yes Rix, it IS “noble” to “Defend our country”…I always thought it was kinda noble to aspire to buy your own piece of “The American Dream” too! You know that whole “put a roof” over your family’s head thing. I mean sure, you could always rent someone else’s roof forever like you do a hotel room when you travel and put it over their head’s but according to the many here who claim to be saving for years and years to own, there must be something to be said for wanting to OWN, right? These people went for it and like I said, either got the wrong advice or just were too financially ignorant to be making such a decision on their own. Depending on their incomes, they likely COULD afford those mortgages IF they had the right loans and more importantly, limited credit debt. And from what I read from their brief comments, they certainly were not looking for “Sympathy”. Theirs is a not un-common story around the country…people biting off more than they could chew and not having the financial acumen to see it coming..should they be derided and laughed at for that? OCTrojan said it best: You Learn, move on, and don’t do it again!
Do some of you people make fun of your kids for their mistakes too? Or your neighbors? Your family? If not, why are you making fun of these people? Does it make you feel better about yourselves and your own decisions? Do you get a warm fuzzy feeling when you read about such people going through these self-inflicted problems? Be honest with yourselves here. Because if so, then you are calling the wrong people “pathetic losers”. Because then only the person that looks back at you in the mirror each morning fits that description. Only complete and absolute “Pathetic losers” enjoy the pain and hardships of others. Period. End of story.
May 23rd, 2008 at 6:28 pm
Hey Larry,
Lets get your fact straight.
These people aren’t having financial difficulties. They simply made purchases they couldn’t ever afford at prices they should of never paid. And they likely knew it before they let the salesman talk them into it.
So, if they aren’t losers, they certainly are gullable. I laugh in thier general direction, and derive pleasure at thier misery, mostly because about 20 years ago, I used to do workouts on similar fools who bought bad under similar circumstances.
Who I have pity for is the poor SOB at the bank who gets stuck doing the workouts.
May 23rd, 2008 at 8:29 pm
Larry P is the biggest loser who is posting about this article. Larry P can go to hell.
May 23rd, 2008 at 8:30 pm
I agree with Tony, Larry P is a total loser
May 23rd, 2008 at 8:55 pm
Tony,
Already been there. Hell is reading you mindless cattle every day pat yourselves on the back and put others down. What wonderful human beings you are.
I agree with Larry P that Tony, Bobby, and others here are the biggest total losers!
May 23rd, 2008 at 9:12 pm
Larry P: Did I read that correctly? You find that there is even a remote similarity to the thought process behind deciding to buy a house with a risky loan and the decision to forever change your future and that of your family’s by serving the military?
By the way - if you die for your country - it is the GREATEST SACRIFICE A HUMAN BEING CAN MAKE.
If you foreclose on a home, absent of any job loss, simply due to making a bad decision - the only people you sacrificed is your family. And for them I feel pity.
Back in the 90’s during all the layoffs and people ended up foreclosing - where was the pity then? Where was the love?
Your argument holds no credence whatsoever.
Buying a home with a risky loan requires someone to sit down and calculate the risk and assess if they want to submit their family to that risk. The numbers above show that these people did not consider any contingency - seeing that they still have the same jobs when they first bought - it would have been easy to simply have done the calcs and bought within their means. Then they would not be worrying about foreclosing.
The decision making process for joining the military has no correlation whatsoever. Everyone that joins knows the risks - but they still choose to serve. It is the greatest honor that is only bestowed when you decide to join the brotherhood whose heritage has made this country what it is today. You are an idiot, my friend.
You are trying to correlate the risk of putting your family through the foreclosure process to dying in the military. Geez Luis!!! You have got pass some of that crap you’re smoking!!! Are you eating mushrooms with that as well?
These people could have bought something cheaper. But, in your mind, it’s honorable to attempt to overextend. You cannot be anymore ignorant.
Man - this is funny. I did not think people could shovel it so thick. That’s a new one.
By the way - its the American way to buy what you can pay for, and so with hard work and perseverance - sometimes that means sacrificing by NOT BUYING THE HOME in consideration for the well being of your family!!! Maybe instead, they should have done what most Americans with integrity do – they buy something that they can actually pay off.
The more I think about your statements, the more pissed off I get at these idiots.
You realize when I first read the article I felt some pity for them - now I cannot stand the site of such stupidity. Great job there brain trust!!
As a homeowner myself – I have worked very hard for everything I have. I have never submitted my family to unecessary risk. That is exactly what these poeple did. There is nothing American about it whatsoever. I have no care in the world to put myself in the same category as these people.
May 23rd, 2008 at 9:13 pm
And dude, if you even think for a second that I am rejoicing in their loss - you will have confirmed that you are a walking genetic defect!!!
May 23rd, 2008 at 9:17 pm
And you know this guy in the picture is putting his little girl in the picture with hopes of squeezing empathy out of anyone that’s itching for a bailout.
American way? - you are so stupid it is beyond incredible.
May 23rd, 2008 at 9:18 pm
So much for posting - my original post was held for moderation
So everyone will have to wait for the best parts.
May 23rd, 2008 at 9:32 pm
Larry P, you need to grow up. There is no need to be rude to others. If you have nothing nice to write, then don’t write at all.
May 23rd, 2008 at 9:37 pm
lee in irvine Says:
May 23rd, 2008 at 6:43 am
HOLD ON A MOMENT!
These are the exact people that drove up the price of real estate in Orange County, and they are the precise reason why I’m renting. They want their cake and icing too.
Well!
I have NO SYMPATHY for these home debtors … they should pay the price by eating rice and bread, driving old cars, etc, or they should start over by mailing the keys to the bank and become renters like me.
Um, Lee, we all know you had an equal hand in the ponzi scheme you so despise. You are renting because you are a housing speculator who is attempting to short the market with your primary residence. What hypocrisy.
May 23rd, 2008 at 9:51 pm
Larry P, RIGHT ON!! You nailed it.
May 23rd, 2008 at 10:21 pm
not buying it,
“And dude, if you even think for a second that I am rejoicing in their loss - you will have confirmed that you are a walking genetic defect!!!”
Guilty much? And “dude” if you think I meant people who DON’T verbally rejoice in others losses are losers, then YOU will have confirmed that you need to learn some reading comprehension…I’m curious, why did you react to my post if you don’t feel that way, not buying it? Posting that people made a poorly thought out decision is a far cry from gleefully putting people down for their problems or like the BIG WINNER Tony above, simply calling them names! I thought the difference was pretty clear…isn’t it?
I see from you saying I am “stupid it’s beyond incredible” after you typed “American Way?” LOL! What I ACTUALLY posted was American….wait for it so you can read AND understand it…..DREAM! “American Dream” and NOT “American Way”! Two different things with different meanings for anyone who can actually understand what they are reading…don’t you think? Thank YOU “not buying it” for proving you, like the rest of the Myopic, agenda pushing, “I-have-got-to-be-RIGHT” types on this board CAN NOT UNDERSTAND WHAT YOU READ! Unless of course it fits in your own personal agenda. Heck you can’t even differentiate between “American Way” and “American Dream” you’re so mindset-myopic!!!
And how do you know the guy put his daughter in the picture? Maybe the photographer ASKED him to put the daughter in he picture because the AUTHOR’S were trying to evoke our sympathy and NOT the homeowner? Ever consider that? Reporters have agendas too, just like you do with your constant drumbeat of negativity. But you, like others, simply are ready to blame ANYTHING on those whom you love to vilify: The recent homebuyer! And after just posting that YOU aren’t like those OTHER losers whom I was referrring to! Ha! You crack me up with such double talk! Me, Stupid??? You make me look like Einstein every time you post, not buying it! You’re too easy….no challenge for me…Next!
May 23rd, 2008 at 10:51 pm
no vaseline said:
“Lets get your fact straight.”
Okay. Show me some FACTS I missed
“These people aren’t having financial difficulties. They simply made purchases they couldn’t ever afford at prices they should of never paid. And they likely knew it before they let the salesman talk them into it.”
Those aren’t FACTS….those are your ASSUMPTIONS! Big difference! i could show you QUITE esily how someone making “Above $100,000″ (whatever that really is) COULD “afford” a $592,000 30-year fixed loan with a PITI payment for instance. Not with a whole lot of money for much other debt but they COULD afford it. So that is a fact not what you hypothesized. Also, the FACT that the lady is getting a 2nd job is more or less PROOF that she is seeing some “financial difficulties”…isn’t it? The article even says as much. And finally, how are merely SUPPOSING that they knew they “couldn’t afford it”. I see people ALL THE TIME that have little to no clue about how money works yet are looking to finance some piece of real estate. Making the assumption that these folks saw this coming and still jumped in the way of the train is NOT a fact…it is speculation.
Thanks for helping me get the “facts straight”!
Oh and this gem: “So, if they aren’t losers, they certainly are gullable. I laugh in thier general direction, and derive pleasure at thier misery, mostly because about 20 years ago, I used to do workouts on similar fools who bought bad under similar circumstances.” See my post above for those who feel pleasure at others misery…and hope you are not on the receiving end some day by someone like you when you and your family may suffer some sort of personal mistake-driven catastrophe!
Also folks, there is a HUGE difference between government bailouts and lenders making loan modifications! You would know that if you actually thought about it…but then that would mean temporarily shutting off the agenda-driven myopia…nah, ain’t gonna happen with this tough “never-make-a-mistake” crowd!
May 23rd, 2008 at 11:33 pm
Great job Matt. I can’t wait to read the full article on Sunday. BTW, have you heard from thoughtless on this one?
Remember kids, don’t buy stuff you can’t afford.
May 24th, 2008 at 7:16 am
Dam, I sure have a lot ot time to stir the pot. If you look at my post times I have nothing better to do than post on this blog. I love the attention it is the only power I have. People at work make fun of me. So please let me have my fun little fun. I defend these people because I have needed a bailout all my life. I am nothing more than a big mouth, know it all liberal.
May 24th, 2008 at 10:21 am
What a pig this Larry P is. This idiot actually equates the members of the USMC with irresponsible losers.
May 24th, 2008 at 11:05 am
All I have to say about these people in this story is LOL!
May 24th, 2008 at 11:08 am
Larry P.
Your passion and reckless comparisons are misplaced with these people.
They need to go back to renters just like the countless people coming down the pipeline.
Next…
May 24th, 2008 at 11:37 am
So it doesn’t sound funny to take out a $700k loan and have a monthly payment of $2.5k?
What were these people thinking? This is a special deal just for me? They must like me a lot. Holy red flag idiots
May 24th, 2008 at 10:42 pm
Not buying it,
Forgive me but you dished it…and now you’re gonna take it! Re: your post from last night at 9:12 that got held up: No, you most certainly did NOT understand me correctly…not in the slightest! I thought I was clear and forgive me for not explaining it in a way that was easier for the “Reading comprehension impaired” to understand. I was going to reply to “lee in Irvine” that he HAD to be putting me on…that only somone with the intellect and reading comprehension level of a SAND FLEA would think I was comparing our military to a bunch of poor-decision-making homeowners…that is, I was going to say that until your post popped up finally! I would ask you to re-read my posts but…what the hell would be the use…you would only see what you THOUGHT you saw in the first place rather than what was intended THROUGHOUT ALL of my posts yesterday…I called it last night however on the two posts of yours that DID show up…you neither read nor understood what I was saying and corroborated what I was actually trying to say about the many others like you here with your response and personal attack! You didn’t even BOTHER to see that I wasn’t comparing strapped homeowners with our military…I was asking acidly why those of you board jockeys that found joy in the self-inflicted financial misery of others didn’t find the same joy and delight in military death and misery sine they were both by “choice”?
Perhaps it was an unfortunate choice given your myopic response but only a blind fool (or…you people) or the overly sensitive would see it as an ACTUAL comparison between military service and homeownership. I’m sure we all have military or ex-military throughout our families so this wasn’t a test in Patriotism…so climb off your Red, White, and Blue high horse! It was a simple BITTER question that the simple and BITTER among you MISSED entirely! I gave you all more credit for reading comprehension than I clearly should have I guess.
One final time for the reading impaired: I hate when people mindlessly attack others and call them names unprovoked here and in other blogs. I hate it when people revel in others misfortunes and sit on their high judgmental horses here and in “Blogs for Board Bullies” like it. I have stayed away from this blog for the past few weeks BECAUSE all I saw it degenerating into was a war of words between two sides in what? A stupid meaningless BLOG WAR between people with merely differing opinions! What do you people actually WIN for all your pathetic need to always be RIGHT? What medals do you earn? What prize does Matt Padilla and The Register award you for your often viscious and mindless name calling attacks on others whom you’ve never met nor will you EVER know anything about other than what you have read here? Nothing? Or is it for only the NEED to be right and validated? The validation when others “pile on” to your attacks. Opinions are one thing….personal attacks quite another! I thought most people learned that in grade school? Of course I also thought they learned reading comprehension too so clearly, I overrated our educational system!
I reacted last night to posts on this thread who’s ONLY contribution was to call the subjects in the story “Pathetic Losers” and to heap ridicule upon them…for Pete’s sake these people aren’t “sending in the keys” as stated by “lee in irvine” nor are they apparently going to heed the advice to “return your house and start renting” as OCTrojan un-helpfully suggested. No, they are 1) getting a 2nd job to keep to making their payments on time and 2) trying to work out a modification with the bank to keep the mortgage current and performing. And for that you people pilloried them and called them names??? What kind of Bizarro world has this blog become? And yet you folks are SO into this “My view MUST be the winner” in this non-game you are all playing that you apparently couldn’t see what you yourselves are becoming …what do YOU call people who call others names? You certainly don’t call them nice people. I call them something that can’t be repeated here but let’s all just settle on “board jerks”!
Well last night, I got SICK of it! If no one else cares to point out the (to me) obvious than I will: many of you have become “Board Bullies”…You have “Keyboard Courage” (lee in irvine…I can guarantee you wouldn’t call me a “pig” to my face!) and seem to enjoy venting your frustrations and anger at those you read about…and at those who’s posts you neither understand nor apparently care to even try to…you have made it “personal”! Case in point “Not buying it” is your reply to my more general post…I did not attack YOU or anyone else by name but you saw fit to call me and I quote “An idiot” among other things! Hell, you didn’t even understand my posts and I’M THE IDIOT??? This is what I was talking about. No intellectual discourse…just blind attacks! And if you can’t see just how childish and what SCUMBAGS it makes of those of you that do it appear, well then you have lost your grip. I’m sure MOST people on this board are/were nice people outside of this blog and especially this subject matter! But here it seems to bring out the worst in some. It did me a LOT of good to get away from here the past three weeks or so and to be honest, the “personal” nature of the posts here has made me realize I probably shouldn’t have come back…to post anyway! I would encourage you, Not buying it, and you Lee in irvine, to take a step back and look at who you are becoming on these boards…hateful and angry “board bullies” When I first started posting here 3 months ago you both at least made some good points…now you just seem like myopic knuckle draggers with a keyboard and time on your hands. In short, “Board Jerks”! Last night in my anger at what was being said, I became one too…only difference is I can admit it…and I don’t like it! But who knows, maybe you and those like you do enjoy it…we’ll all see!
May 24th, 2008 at 10:43 pm
As for the classy guy who posed as me in a post this morning…that wasn’t even creative my low IQ “I-Can’t-think-of-anything-more-than-three-lines” brotha! And anyone who knows me knows calling me any kind of liberal is fightin’ words! Do you feel like you will get “Class acceptance” by making such a post? And unlike most, I never type in mindless “Sound bites” as you do…three lines just ain’t my style son!
May 24th, 2008 at 11:36 pm
I am a sorry loser who is trying to time the market. I spread nothing but lies.
May 24th, 2008 at 11:53 pm
Larry:
Nobody I ever forclosed on 20 years ago ever did anything wrong. It was all my fault, a dirty conspiricy by the bank to confiscate thier property and “make a killing on it” where the truth was we lost about 20% (over whatever the loan balance was) after we got done with it all.
So, when I say I hope that somebody would laugh at me if I was as stupid as the above mentioned folks, I mean it. This is not somebody coming up on hard times, it was simply a case of buying something you couldn’t EVER reasonably afford to pay off.
Have a great weekend. I know it’ll be hard beacuse you’ll be so busy being bitter and spewing here.
I’m going to enjoy the new (very high end) home theater system I bought for twenty cents on the dollar from some poor busto SOB who was fixing to lose his home in the Vilages of Columbus. Craigslist is a wonderful thing.
May 25th, 2008 at 7:26 am
Larry P,
Let’s face it, you’re an angry, bitter, person, who was looking for the crudest way to attack those you disagree with, and then you placed your foot in to your mouth by equating the Good People of The Core, to reckless home debtors.
You show dishonor and disrespect to the people of the USMC, and then you want to threaten me, knowing you’ll have to back it up.
Not only are you a Pig, you’re also a coward!
May 25th, 2008 at 7:28 am
knowing you’ll have to back it up.
Scratch that … it should read; knowing you’ll NEVER have to back it up.
May 25th, 2008 at 10:12 am
I doubt it. I don’t give bums money. Groceries, however………………..
May 25th, 2008 at 10:55 am
I am the Phong Le on this article. I notice there’s a lot of strong reactions. Please give me a moment to provide you with a little more insight about my side of this mortgage story before you judge.
We are not in trouble of foreclosure and have not been late on one single mortgage payment. We were like most people who are currently fence sitting today and waiting for the price to fall. We did not see the price fall, so decided to buy. When we purchased our home in 2007, we down 20%. After a little more than year, most of our 20% down payment has been wiped out. Mostly due to the other homes in our neighborhood going foreclosure.
I wrote to Mr. Padilla with hope to get exposure for my rate adjustment proposal. This article did not provide the ideas and details I wanted to portray. I understand there’s limited space and Mr. Padilla can only provide so much details about one person. Here’s the reason why I was willing to participate in this article:
Since our bank already own our loan, we are hoping the bank could lower our interest rate without doing a full blown refinance. Here’s what I mean. Let us BUY down the rate, for example from 6% to 5% and charge us a fee. Something like 1% to 2%, maybe? We are willing to pay our bank the fee (no free ride). Here are just some of the benefits we believe this deal has for both parties:
- Banks get a lump sum fee up front. From what we’ve seen in the news, banks could use some extra money.
- This is not a rate freeze where the banks get nothing for their pain.
- We get our monthly payment permanently lowered as long as we own our home.
- If something happen to one of our job, we could better afford the monthly payment.
- Only home owners who are financially secure and serious about keeping their home would even consider this deal.
- Even if home owners bail on their loans, the banks already received the lump sum fee.
-The money we save from the mortgage would go directly back into the economy as family expenses. This would have more sustaining impact than the Economy Stimulus Tax Rebate.
May 25th, 2008 at 1:01 pm
Lee in Irvine,
Man, you just don’t know when to stop do you? Time to get personal!
Your most honest post EVER was the one from 11:36 last night where you said: “I’m a sorry loser…I spread nothing but lies!”. You should have stopped there!
And just as I thought! You lack any reading comprehension as well as no introspection. Not only do you have the intellect of a protozoan with inability to focus on anything but the (LOL) CORE (What a MORON! It’s CORPS you board buffoon! Lee my DAD was in the C.O.R.P.S. ! So wa