Saving a home, effects are personal -

Saving a home, effects are personal -

There are 7 comments on the Newsday story from Nov 11, 2007, titled Saving a home, effects are personal -. In it, Newsday reports that:

Three years ago, Middle Island residents Rita and Larry Schel earned a combined six-figure income, mostly thanks to his work making granite monuments.

Join the discussion below, or Read more at Newsday.

The Great American

Piedmont, OK

#1 Nov 12, 2007
I hope everything works out for this family and the many others that need assistance to modify suprime loans. No one wants to lose their home and I know these folks are trying their best to keep it. Sure it was mistake for these lenders pushing these loans and borrowers agreeing to the terms. But you must remember everyone wants to own a home and if this was away of getting one, so be it. The lenders knew the credit situations of these people when they offer those loans so they should help them get back on track with reasonable payments.
Pedro Glenn

Paoli, PA

#2 Nov 12, 2007
I am happy that they have relief!

What does that mean, their credit worsened? If due to illness alone, it is understandable... But it seems there is more.. ID theft? What else newsday? Cmon you're the supposed reporters!
Middle Island Resident

Bronx, NY

#3 Nov 12, 2007
I wish this family good luck.. I wonder if he knows the Walmart in middle island sells prescriptions really cheap..some are $4. He should check in on it.
legaliis

Bronx, NY

#4 Nov 12, 2007
"If you call up and ask for help and tell them what I've been through, they should help,"..."I was never late before."

Really? And when did mortgage companies become social services outfits? As unfortunate as the circumstances are, they are the individuals problem, NOT the companies problem.
Innocent bystander

New York, NY

#5 Nov 12, 2007
Pedro Glenn wrote:
I am happy that they have relief!
What does that mean, their credit worsened? If due to illness alone, it is understandable... But it seems there is more.. ID theft? What else newsday? Cmon you're the supposed reporters!
Credit worsened...hmmmn possibly because they were late on some payments?? See the article on "business across long island feeling the mortgage squeeze" where the reporter interviews the restaraunt owner who laments about a couple who used to dine at his place up to 5 times a week. The name of this couple, why the Schels - from the article

"Middle Island residents Rita and Larry Schel used to frequent Il Miradoro, Araujo's Italian restaurant, as many as five or six times a week. When Larry Schel became ill and the couple began to fall behind on their mortgage payments, they stopped coming.

"When you lose a customer like this, it's no good," Araujo said."

Yeah credit problems caused by identity theft - more like mistaken identity - they looked in the mirror and saw Donald and Ivana Trump staring back at them...
SyossetNoMore

Brooklyn, NY

#6 Nov 13, 2007
Innocent bystander wrote:
<quoted text>
Credit worsened...hmmmn possibly because they were late on some payments?? See the article on "business across long island feeling the mortgage squeeze" where the reporter interviews the restaraunt owner who laments about a couple who used to dine at his place up to 5 times a week. The name of this couple, why the Schels - from the article
"Middle Island residents Rita and Larry Schel used to frequent Il Miradoro, Araujo's Italian restaurant, as many as five or six times a week. When Larry Schel became ill and the couple began to fall behind on their mortgage payments, they stopped coming.
"When you lose a customer like this, it's no good," Araujo said."
Yeah credit problems caused by identity theft - more like mistaken identity - they looked in the mirror and saw Donald and Ivana Trump staring back at them...
There are many reasons for the high cost of living in LI. Not the least of which is high taxes. The taxes go to support overpaid public employees and deadbeats dependant on Government entitlement programs.

If you want things to improve several things must happen. These include

1) The closing of our borders,
2) The enforcement of our immigration laws,
3) Fining employers who knowingly hire illegal criminal aliens (if they are here illegally, they are criminal illegal aliens NOT undocumented workers),
4) Elimination of all health benefits, tuition benefits and all other freebies given to illegal criminal aliens,
5) Bringing our troops home (no more foreign entanglements)
6) The repeal of NAFTA,
7) A severe curtailment of entitlement programs for American citizens. People who can work need to work. There are far too many able bodied Americans on disability that are bleeding the taxpayers dry. Ask any cop when the drugs are bought and the answer will commonly be “shortly after the government checks arrive in the mail”

8) Last but not least, people need to live within their means and people need to accept responsibility for thier actions.

Please note not all on disability are deadbeats and not all those participating in entitlement program are deadbeats. However, a large percentage of the people on disability and entitlement programs are capable of working but refuse to do so.
In The Business

Amityville, NY

#7 Nov 14, 2007
The Great American wrote:
I hope everything works out for this family and the many others that need assistance to modify suprime loans. No one wants to lose their home and I know these folks are trying their best to keep it. Sure it was mistake for these lenders pushing these loans and borrowers agreeing to the terms. But you must remember everyone wants to own a home and if this was away of getting one, so be it. The lenders knew the credit situations of these people when they offer those loans so they should help them get back on track with reasonable payments.
Litton Loan Services is not a lender - they buy loans underwritten by other lenders and service them...

Fact is, you should probably say these people are pretty lucky that these unfortunate circumstances happened during this bad credit market because these companies are more receptive now to processing loan modifications than they were a few years ago.. If this would have happened to them back in 04 they probably would have lost their home..

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