Protesters taking aim at foreclosures

About two dozen people who have had their homes foreclosed upon protested at the Orange County Courthouse on Tuesday, saying a foreclosure task force appointed by Gov.

[Ninnies]

Okay. So you're stupid and don't read the terms of the loan. You made a bad decision. But, it's not your fault, is it? It can't be your fault - must be somebody else's. So now the nanny state has to come and bail you out. Sometimes, life is hard. And if you make the wrong choices, YOU should pay for them.

[Jim]

Ninnies wrote:

Okay. So you're stupid and don't read the terms of the loan. You made a bad decision. But, it's not your fault, is it? It can't be your fault - must be somebody else's. So now the nanny state has to come and bail you out. Sometimes, life is hard. And if you make the wrong choices, YOU should pay for them.

The problem is it isn't the "Nanny State" that foots the bill. It is the next door neighbor who happens to live responsibly who is being STOLEN from via the goons employed by the Nanny State to take from him/her and simply give it to his/her irresponsible neighbor to alleviate the whining.

Isn't pacifism, shoving the pacifier up some dark place to stop the belly aching a wonderful solution?

Ah yeah the proverbial "lifetime" security blanket and welfare state where the "Educated" pseudo-intellectuals decide to TAKE FROM the responsible and give to the irresponsible....What a wonderful solution...

But could someone please tell me how that fixes anythin? How it actually solves the problem of this nightmare of continuing and evergrowing social co-dependency?

Socialism is to society what CANCER is to the human body...and if left unchecked and continually fed by "the warm fuzzies" (the social equivalent to SUGAR)...it will keep growing exponentially and if left unchecked over take and kill the BODY/SOCIETY.

Yeah isn't pacifism a wonderful thing....

Poooooooooooooooooooor Babies! How about some tough love and telling them to simply PAY THEIR CONSEQUENCE, learn a lesson, and OH by the way GROW THE F UP. Oh thats too hard...This being the social equivalant to what? Chemotherapy? Eat right and exercise and do the tough stuff.....

Ah but thats toooooooooooooooooooo hard!

[Robin]

ACORN is a Marxist front group that has helped to destry the economy of Califorina and everywhere else they operate. Now they bring their Socialist poison here.
These are the same people that pressured banks into making these bad loans with the cries of Racism and the threats of lawsuits...

[Greg Bell]

Anyone that would take out a loan without understanding the terms deserves whatever happens. I bet most of the people in this position spent the money on a vacation or new vehicle.

[former native]

Its your problem, deal with it. So don't come to honest taxpayers and ask for another handout. This is part of the economic cycle, what goes up sometimes goes down. I got my tail handed to me after the tech bubble, I rebuilt without ever thinking of a nanny state bailout. It would've been a lot easier to sit there and cry, then ask my neighbor to bail me out because I made a bad investment choice. When investing in the stock market you never know what will happen; with a loan you have it down on paper and can plainly see what you're in for. I feel no pitty for you or ACORN, only anger that stupid people bought houses they couldn't afford, knowing that their rates would go up. These foreclosures allow others that are more responsible to buy a home.

[Liberals Hate Facts]

Why does it not surprise me that ACORN is involved here?...the same bunch of liberal whiners who are always on the WRONG side of every argument!

These are the same guys who tricked the Florida voters into a new Constitutional Amendment which now has the minimum wage tied to the cost of living (btw...that means that the average teenager will be making about $10/hr to flip your burger in about 5 years.....)

And for those of you who don't understand what that means..........INFLATION and higher pricing on everything!...and according to labor studies...fewer entry level jobs available.......

Hey ACORN....we all hate it that people were stupid and didn't bother to read the terms of their agreement. But that doesn't make the DEALS OF THE AGREEMENT 'predatory'. It only makes those people who were willing to sign LEGAL DOCUMENTS without reading them.....STUPID.

I'm ALL FOR punishment of HIDDEN terms (not disclosed). But those types of terms are not enforceable in the first place! This was SQUARELY about people who didn't read the terms of their deals! And that's just plain dumb!

[Mike]

"There loans are designed to fail," Moore said. "It's like selling you a chair that you wouldn't be able to sit in."

"There" should be "Their"

Don't we learn this in elementary?

[Judge Schmells]

How could a home equity line payment go up when the prime rate has dropped 3 points???

Missed 7 payments???? Quit waisting your time protesting and go out and get a job.

[Pachacutec]

I feel badly for anyone who's lost their home because "there but for the grace of God go I." But how come these people are expecting the government, whether at local, state, or Federal level, to bail them out? I mean, if I have a credit card and max it out, do I have a right to ask Uncle Sam to pay it off for me just because interest rates go up?(well, yeah, it would be nice, but...) As others have posted, far too many people don't read the fine print on their loans. We see signs all over the place, "YOU can buy a home with no money down, no this, no that, whatever...." Goes without saying that there has to be a catch to it, right? Yes, I can sign up to BUY a home even if I don't have a dime to my name, but making the payments and all that is another story.

[UF ALUM]

Greg Bell wrote:

Anyone that would take out a loan without understanding the terms deserves whatever happens. I bet most of the people in this position spent the money on a vacation or new vehicle.

In defense of some of the people who fell victim to inexperience, "the terms" are often difficult to understand if you've never been exposed to them before.

Does this make any sense to you?

Concentrated suspensions of non-Brownian spheres dispersed in a Newtonian carrier liquid were placed under large amplitude oscillatory shear flow. It was found that the response waveforms consisted of a transient response after each reversal in the shearing direction, followed by purely viscous behaviour.

[Frederick]

Carolyn Patmon, you whose house was paid off already until you greedily borrowed against it, I find your actions of protest disgusting.

[Grow Up]

UF ALUM wrote:

<quoted text>
In defense of some of the people who fell victim to inexperience, "the terms" are often difficult to understand if you've never been exposed to them before.
Does this make any sense to you?
Concentrated suspensions of non-Brownian spheres dispersed in a Newtonian carrier liquid were placed under large amplitude oscillatory shear flow. It was found that the response waveforms consisted of a transient response after each reversal in the shearing direction, followed by purely viscous behaviour.

Ooo, aren't you SMART. If something doesn't make sense how about asking "What does this mean?". Ignorance is no excuse. Borrowers are given plenty of time to review mortgage documents and ask questions of any terms they don't understand. That's called taking responsibility for your actions and making your own decisions.

[Pachacutec]

"UF Alum," I fully understand that many people are inexperienced when buying a home. However - I've seen ads for home buying seminars in the past, I've heard about real estate lectures at local libraries, etc., in my area, and I'm sure various government agencies could point new home buyers to people who could help them through the fine print. However - I also believe that there's lots of people out there who truly believe they can get something for nothing and when they hear these ads that "anyone can buy a home," that they jump right in without bothering to check out what they're signing. As I said in my earlier post, I'm sorry for people who lose their homes, but I really can't see how it's the governments' job to bail them out.

[Grow Up]

UF ALUM wrote:

<quoted text>
In defense of some of the people who fell victim to inexperience, "the terms" are often difficult to understand if you've never been exposed to them before.
Does this make any sense to you?
Concentrated suspensions of non-Brownian spheres dispersed in a Newtonian carrier liquid were placed under large amplitude oscillatory shear flow. It was found that the response waveforms consisted of a transient response after each reversal in the shearing direction, followed by purely viscous behaviour.

How about asking questions if you don't understand something? Borrowers are given plenty of time to review mortgage documents and ask about any terms they don't understand. But wait, that would be taking personal responsibilty. Drop the 'tude, dude.

[UF ALUM]

Grow Up wrote:

<quoted text>
Ooo, aren't you SMART. If something doesn't make sense how about asking "What does this mean?". Ignorance is no excuse. Borrowers are given plenty of time to review mortgage documents and ask questions of any terms they don't understand. That's called taking responsibility for your actions and making your own decisions.

LR, is that you?

Asking is fine, but you should note that no matter how easy you try to make something, there are some people who will still not get it...

Besides that, you are asking a person who is giving you a loan, knowing that you do not make enough to pay for it, for advice...

[UF ALUM]

Pachacutec wrote:

"UF Alum," I fully understand that many people are inexperienced when buying a home. However - I've seen ads for home buying seminars in the past, I've heard about real estate lectures at local libraries, etc., in my area, and I'm sure various government agencies could point new home buyers to people who could help them through the fine print. However - I also believe that there's lots of people out there who truly believe they can get something for nothing and when they hear these ads that "anyone can buy a home," that they jump right in without bothering to check out what they're signing. As I said in my earlier post, I'm sorry for people who lose their homes, but I really can't see how it's the governments' job to bail them out.

It’s a catch 22… if we don’t bailout people before they lose their home, then we’ll have millions of Americans joining the ranks of the homeless… banks will have a surplus of homes that they are taking a loss on, and on and on… sure the delinquent buyers will learn a valuable lesson, but the economy suffers and that affects the rest of us who are responsible homeowners.

I don’t like the idea of a bailout either. I want the housing market to sink lower so I can add to my RE portfolio… but, I think it might be necessary for the good of the economy. I wish we could take money out of the pockets of the greedy lenders and realtors who encouraged people to buy more and qualified these people for ridiculous loans.

[Drumz]

If a gun shop is liable for selling a gun to a registered criminal,
and bar owner is liable for selling liquor to someone who is obviously drunk,
then a mortgage lender is liable for selling a loan to someone who can't afford to pay it back.

[otownnole]

UF ALUM wrote:

<quoted text>
In defense of some of the people who fell victim to inexperience, "the terms" are often difficult to understand if you've never been exposed to them before.
Does this make any sense to you?
Concentrated suspensions of non-Brownian spheres dispersed in a Newtonian carrier liquid were placed under large amplitude oscillatory shear flow. It was found that the response waveforms consisted of a transient response after each reversal in the shearing direction, followed by purely viscous behaviour.

UF, I know I have discussed this with you before.

I think it would be safe to say that no one, except perhaps you and a few others would risk the financial livelihood of their family on their understanding of non-Brownian spheres. And why wouldn't they do this? Because they have absolutely no clue as to what any of that stuff means. If they were even contemplating it, they would at the very minimum have several questions which would lead to many, many more questions. Why would they not have any questions about they different types of loans, or ask what ARM means, or what an interest only loan is? Maybe not in all cases, but I am sure in several they had, more than one choice of loan. I imagine it went something like, "well since you can't afford $2000 a month, we do have an ARM/Interest only loan that would make your payment $1350 a month." I know that is how it went with me.

I do understand what you are saying, but those of us who did the right thing and didn't get in over our heads stand be so to speak if help is offered to these people who made horrible decisions. If they get help, why shouldn't I get help with a down payment?

[otownnole]

UF ALUM wrote:

<quoted text>
LR, is that you?
Asking is fine, but you should note that no matter how easy you try to make something, there are some people who will still not get it...
Besides that, you are asking a person who is giving you a loan, knowing that you do not make enough to pay for it, for advice...

Life aint a cake walk. Whatever they heck these non-Brownian spheres do or are used for, I doubt you want someone who doesn't understand them to design for them or WTF ever is done with them. Should we let people design non-Brownian spheres who don't understand it, solely because some people just won't ever get it?

Ever heard of getting more than one estimate on your vehicle? Why should loan shopping be any different?

[UF ALUM]

otownnole wrote:

<quoted text>
UF, I know I have discussed this with you before.
I think it would be safe to say that no one, except perhaps you and a few others would risk the financial livelihood of their family on their understanding of non-Brownian spheres. And why wouldn't they do this? Because they have absolutely no clue as to what any of that stuff means. If they were even contemplating it, they would at the very minimum have several questions which would lead to many, many more questions. Why would they not have any questions about they different types of loans, or ask what ARM means, or what an interest only loan is? Maybe not in all cases, but I am sure in several they had, more than one choice of loan. I imagine it went something like, "well since you can't afford $2000 a month, we do have an ARM/Interest only loan that would make your payment $1350 a month." I know that is how it went with me.
I do understand what you are saying, but those of us who did the right thing and didn't get in over our heads stand be so to speak if help is offered to these people who made horrible decisions. If they get help, why shouldn't I get help with a down payment?

I am absolutely certian tha no one walked into a lending office with a blank look on thier face, said nothing, and walked out with a smile and a loan. People were asking questions to a person who wanted to put them in a loan... predators... look it up... they don't get paid unless you get a loan... They have every incentive to mislead you and none to do the right thing.

The only penalty a mortgage broker faces is losing his job... They don't care if you cannot afford the payments, they only care that they will get a hefty commission on your faulty loan...

They put thier trust in these people and many got burned.

I can assure you that if you are bright enough to have done the right thing regarding you home in the last 3 years, that you have the disapline needed to continue making good decisions and that is your reward. You will benefit 10 fold in the future...