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Post by lockedhorns on Feb 23, 2009 17:11:47 GMT -4
JIM ACOSTA, CNN CORRESPONDENT (voice-over): School bus driver and mother of two, Minta Garcia got the letter every homeowner dreads, your mortgage is in jeopardy of going into foreclosure. MINTA GARCIA, DISTRESSED HOMEOWNER: Were going to be losing the house. Were going to lose everything. ACOSTA (on camera): You think youre going to lose everything? GARCIA: Yes. ACOSTA (voice-over): Her message to the president GARCIA: Stop with the foreclosure. ACOSTA (on camera): Stop the foreclosures? GARCIA: Yes. Right now, because if people are losing houses, losing jobs, what are we going to do? ACOSTA: Like countless other Americans, Garcia admits she and her husband bought more house than they could afford, but she says the lender made the purchase all too easy. Now her mortgage is worth more than her house. (on camera): How much was the house when you bought it? GARCIA: Eight hundred. ACOSTA: Eight hundred thousand dollars?. And how much is the house worth? GARCIA: Right now, its like $675,000 on the market. I guess the first question Id ask is what made a bus driver believe she could afford an $800,000 house. Unless she makes six figures and had a mountain of a down payment, the figures themselves seem so far out of whack that one has to wonder how it occurred at all. The lenders certainly deserve blame here, too, but no one forced Minta Garcia into that house and that mortgage. This is the kind of people I was talking about in another thread, that bought over their heads. And people wonder how we got in this mess, HOW BOUGHT IT BARNEY FRANK AND MAXINE WATERS!!!!
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Post by stickman on Feb 23, 2009 20:19:54 GMT -4
Pretty tough to get Fat friggen Barney Frank to care when he was Literly in bed with one of them Ceo's from Freddie or Fannie.
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Post by danders on Feb 23, 2009 23:02:08 GMT -4
and how many people really NEED an $800,000 house,whether u can afford it or not! Guess maybe us greedy Americans are getting what we deserve......
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Post by jeffpahunter on Feb 23, 2009 23:41:40 GMT -4
And I just love how they are reporting that the USPS is considering eliminating one day of mail delivery due to loosing money but yet the man who runs the Postal Service got a $ 800,000 bonus last year. Doing a lot of mail delivered and shipped business IMO the USPS sucks anyway. I tell people to use UPS and avoid USPS if at all possible. USPS rates are way to high & I've had more mail & packages vanish thanks to the good old USPS than you can imagine.
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Post by danders on Feb 24, 2009 15:05:53 GMT -4
It was said that they had to pay that much salary/bonus in order to get "quality" people to do the job. And that pay is way less than someone with the same "position" in the private sector.......
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Post by mrlongbeard on Feb 24, 2009 19:34:31 GMT -4
there's no way we should bail him out. how were they paying for the house in the first place. selling dope??? and who was the idiot at the bank who gave them the loan. no wonder the banking system is in trouble
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Post by stickman on Feb 24, 2009 20:07:03 GMT -4
Fat Barney Frank said you had to give the loan or your a racist and can't do business.
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Post by lockedhorns on Feb 24, 2009 20:42:53 GMT -4
Fat Barney Frank said you had to give the loan or your a racist and can't do business. Right on stickman, lets don't ever forget who was behind the mess we are in!!!! www.youtube.com/watch?v=_MGT_cSi7Rs
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