Comments on: Americans unwilling to bail each other out http://blownmortgage.com/2009/01/07/americans-unwilling-to-bail-each-other-out/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sat, 07 Nov 2009 02:53:18 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: CRay http://blownmortgage.com/2009/01/07/americans-unwilling-to-bail-each-other-out/comment-page-1/#comment-71474 CRay Sat, 10 Jan 2009 09:54:29 +0000 http://blownmortgage.com/?p=1979#comment-71474 Personally, I don't have an issue with supporting those that have had health issues or lender issues or giving a hand for those that have, or might lose their job in the next 12 months....<br><br> But ... these folks are the minority, a very small minority in our society - maybe 2% of the consumer market..<br><br> What I have an issue with, is the hourly news reports about the guy living in his (3rd house) a $350,000 or his 850,000 3rd house and he won't be able to pay his mortgage payment when the payment adjusts in July.<br><br> Let's do this in a simple way, let's look at his (or her) credit history - it takes all of 5 minutes... that should clear up any sad stories in a hurry that CNN loves to publish.<br><br> The reality is simple ... 9 times out of 10, it's "NOT" the mortgage payment adjustment that will affect the budget, it's that $400 a month credit card bill they didn't have 30 months ago .. it's $600 a month lease car payment they didn't have 20 months ago .. and it's that $750 a month HELOC payment they didn't have 15 months ago....<br><br> Let's pull some credit history's on all of these so sad stories -- let's take a *close look* ..... I look at 400/500 credit reports a month, it's amazing how consumers (with a straight face) will blame their adjustable mortgage payment, when their debt ratio went up 40% in the last 30 months and the new payment isn't due for 6 months...<br><br><br><br>- Personally, I don't have an issue with supporting those that have had health issues or lender issues or giving a hand for those that have, or might lose their job in the next 12 months….

But … these folks are the minority, a very small minority in our society – maybe 2% of the consumer market..

What I have an issue with, is the hourly news reports about the guy living in his (3rd house) a $350,000 or his 850,000 3rd house and he won't be able to pay his mortgage payment when the payment adjusts in July.

Let's do this in a simple way, let's look at his (or her) credit history – it takes all of 5 minutes… that should clear up any sad stories in a hurry that CNN loves to publish.

The reality is simple … 9 times out of 10, it's “NOT” the mortgage payment adjustment that will affect the budget, it's that $400 a month credit card bill they didn't have 30 months ago .. it's $600 a month lease car payment they didn't have 20 months ago .. and it's that $750 a month HELOC payment they didn't have 15 months ago….

Let's pull some credit history's on all of these so sad stories — let's take a *close look* ….. I look at 400/500 credit reports a month, it's amazing how consumers (with a straight face) will blame their adjustable mortgage payment, when their debt ratio went up 40% in the last 30 months and the new payment isn't due for 6 months…

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]]> By: CRay http://blownmortgage.com/2009/01/07/americans-unwilling-to-bail-each-other-out/comment-page-1/#comment-14080 CRay Sat, 10 Jan 2009 08:54:29 +0000 http://blownmortgage.com/?p=1979#comment-14080 Personally, I don't have an issue with supporting those that have had health issues or lender issues or giving a hand for those that have, or might lose their job in the next 12 months....<br><br> But ... these folks are the minority, a very small minority in our society - maybe 2% of the consumer market..<br><br> What I have an issue with, is the hourly news reports about the guy living in his (3rd house) a $350,000 or his 850,000 3rd house and he won't be able to pay his mortgage payment when the payment adjusts in July.<br><br> Let's do this in a simple way, let's look at his (or her) credit history - it takes all of 5 minutes... that should clear up any sad stories in a hurry that CNN loves to publish.<br><br> The reality is simple ... 9 times out of 10, it's "NOT" the mortgage payment adjustment that will affect the budget, it's that $400 a month credit card bill they didn't have 30 months ago .. it's $600 a month lease car payment they didn't have 20 months ago .. and it's that $750 a month HELOC payment they didn't have 15 months ago....<br><br> Let's pull some credit history's on all of these so sad stories -- let's take a *close look* ..... I look at 400/500 credit reports a month, it's amazing how consumers (with a straight face) will blame their adjustable mortgage payment, when their debt ratio went up 40% in the last 30 months and the new payment isn't due for 6 months...<br><br><br><br>- Personally, I don't have an issue with supporting those that have had health issues or lender issues or giving a hand for those that have, or might lose their job in the next 12 months….

But … these folks are the minority, a very small minority in our society – maybe 2% of the consumer market..

What I have an issue with, is the hourly news reports about the guy living in his (3rd house) a $350,000 or his 850,000 3rd house and he won't be able to pay his mortgage payment when the payment adjusts in July.

Let's do this in a simple way, let's look at his (or her) credit history – it takes all of 5 minutes… that should clear up any sad stories in a hurry that CNN loves to publish.

The reality is simple … 9 times out of 10, it's “NOT” the mortgage payment adjustment that will affect the budget, it's that $400 a month credit card bill they didn't have 30 months ago .. it's $600 a month lease car payment they didn't have 20 months ago .. and it's that $750 a month HELOC payment they didn't have 15 months ago….

Let's pull some credit history's on all of these so sad stories — let's take a *close look* ….. I look at 400/500 credit reports a month, it's amazing how consumers (with a straight face) will blame their adjustable mortgage payment, when their debt ratio went up 40% in the last 30 months and the new payment isn't due for 6 months…

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]]> By: Fielding Mellish http://blownmortgage.com/2009/01/07/americans-unwilling-to-bail-each-other-out/comment-page-1/#comment-14064 Fielding Mellish Thu, 08 Jan 2009 06:18:29 +0000 http://blownmortgage.com/?p=1979#comment-14064 I don't want to bail anybody out. Nobody. I don't want to bail anybody out. Nobody.

]]> By: Fielding Mellish http://blownmortgage.com/2009/01/07/americans-unwilling-to-bail-each-other-out/comment-page-1/#comment-14076 Fielding Mellish Thu, 08 Jan 2009 06:18:29 +0000 http://blownmortgage.com/?p=1979#comment-14076 I don't want to bail anybody out. Nobody. I don't want to bail anybody out. Nobody.

]]> By: Fielding Mellish http://blownmortgage.com/2009/01/07/americans-unwilling-to-bail-each-other-out/comment-page-1/#comment-14077 Fielding Mellish Thu, 08 Jan 2009 06:18:29 +0000 http://blownmortgage.com/?p=1979#comment-14077 I don't want to bail anybody out. Nobody. I don't want to bail anybody out. Nobody.

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