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Replies (20)
- 30ashopper
- Contributions:160
Man, at 462/month, she was basically living in the house for free. I just can't get my head around how people could let themselves get into situations like this.
- sunshineday
- Contributions:647
By, not from 462
- Aldreth
- Contributions:4226
Hard to believe there are millions of people in situations just like this right now all over the us.
- HoldMyNose2Buy
- Contributions:220
"I'm scared to death just thinking about it," Cardenas said.
Oh, how cruel just to make her think!! So why can't she read the parable of "Three Talents" while leaving her mess in God's hands? She is soooooooo PHONY! Is she expecting that Neighborhood Association of corp America to pay for her vacations to Guadalaraba and NYC?
- GP2GP
- Contributions:82
You cain't fix stupid!
- Aldreth
- Contributions:4226
No you sure "cain't".
- GP2GP
- Contributions:82
You have found one of my many flaws.
- klarek the realist
- Contributions:7044
This lady's life will be so much better if she just stops paying the mortgage. It sounds like her problem isn't just subprime, but that she simply bought too much to begin with. Even the teaser rate's monthly payment was absurd. That is another problem with the lending standards at the time. People were approved for loans that even initially made them house poor.
- wait n c
- Contributions:548
To end up with a $3300 mortgage on a house that initially cost 123K is beyond ridiculous. That's not using the house like a piggy-bank, that's more like robbing your own house. Some people deserve what they have coming their way. Of course, the lender is just as guilty, but c'mon, how much can you borrow/refinance on a 123K house to end up with $3300 mortgage?
- nstarr
- Contributions:179
find a rental first (b4 credit gets hit)...then she can walk away.
- writeagain
- Contributions:335
It's not just subprime or the fact that she bought too much to begin with. While I have sympathy for the whole divorce thing, spending a tax refund on a trip to New York instead of, oh, I don't know, saving it for when you rate adjustment comes when you know it's coming, kills me. It's stories like this that make me land on the "no bailout" side every time.
- wetdawgs
- Contributions:26842
Once upon a time it was a house she could afford, but she's used her house as a piggybank for luxuries.
I bought a house once where the previous owners owed 6x more on the house than their initial purchase price (and had nothing to show for the borrowing). it is far too common scenario, and unfortunately the taxpayers are likely to have to start paying for these lousy choices.
- klarek the realist
- Contributions:7044
I just read things like this (and stories that are much worse and far more aggitating) and I don't get how people can be so in favor of a bailout. They used their house to pay off $30,000 in credit card debt?? WTF???
So yes, they lose their house, boohoo. People used their b.s. equity to pay for credit cards, cars, college, and vacation. Now they lose their house and don't have to pay the money back. Sounds like a winning proposal for the foreclosee.
''"The only other thing I can do is leave it in God's hands."'
Ahh the famous 'Si Dios quiere' Which translates to God willing. It's a classic line for Latinos ( I am one, I know). Lady, God will help you only if you help yourself.
Reminds me of the other infamous line 'Lo que sera, sera' (it is, what it is). Which means you are hoping that something will happen to help the situation but usually means they are not taking the right steps to make things happen.
- brtlmj
- Contributions:272
I just read things like this (and stories that are much worse and far more aggitating) and I don't get how people can be so in favor of a bailout.
My guess is that a significant proportion of those in favor of a bailout would either be bailed out themselves, or have family who would.
- Dutty
- Contributions:121
Two years after buying the house for $123,000, they refinanced for $250,000. With the money, they paid off $30,000 in credit card debt, $20,000 in car loans and took a vacation to Guadalajara.
Three years later, they took out a $50,000 home equity line of credit, adding two bedrooms and a bath.
50% of the "victims" we will be bailing out did crap like this!! WTF??? My blood is boiling right now!!!
I have a friend who sucked out all the equity out of her house and she has something to show for it: new boobs, tummy tuck, and tons of lipo.....yes she spent it all like that and is appalled that no one will buy her house from her even though she is overpriced. Yup, she paid $150K for a house in 1999 and now she owes more than $240K on the house and her monthly mortage is $2,400 a month......gee something is wrong since I had financed $280K for just a hair under $2K a month....she took whatever crap loan and rate so she could fix herself up......perhaps if she is really smart she will turn her house into a high class brothel and use her new ASSets to pay off her own burden. The house has been on market for over a year for $260K, not one bite and she refuses to lower the price cause she can't afford to come to the closing table with $$......and with her recent job loss she can't really afford the house, and since she is in the financial services biz she can't have a foreclosure on her credit or she can't find future employment.......well ain't she in a pickle.....perhaps she needs to own up to her own F-ing mistakes and not expect others to come to her rescue. Listening to her whine......well, I don't and she obviously didn't like my take on her situation and advice. WAAAAAAAAA!!!
- jal74
- Contributions:1077
3G
Can you repo lipo? HAHAHAHAHHHAHAHAHHAHAHAHAH
- Michinaga
- Contributions:143
This woman is just plain stupid.
She deserves nothing but scorn and contempt from responsible homeowners.
She and her husband had a reasonably-priced, paid-off house, and she essentially sold it back to the bank twice while wasting the proceeds on vacations!
She divorces her husband (it was assuredly not the other way around; had the husband dumped her, the circumstances of the divorce would have been described in that litany of sob stories), and she attempts to continue living the same life in the same house on a single income! Her half of the settlement -- and if she only had to put up $90k for the house, that means she got more than half of it -- could have set her up in a decent rental, or put her in a nice smaller house, but no, she wants to live a two-income life on one income.
And she makes $80,000 per year and still can't hang on! Where is all that money going? Her income has to be in the top 10% nationwide, yet she still hasn't mastered the art of spending responsibly.
All those hard-working Angelenos slaving away for a third of her pay are laughing and mocking her. The only victims in this story are her 9- and 11-year-old kids. They, their grandmother, and their father should run far away from this disorganized buffoon.
- wait n c
- Contributions:548
We should vote for the stories above, American Idol style. Personally I like 3GirlsVA story better.
Hey, it's the little harmless fun we have left before these bums will be bailed out with our money.
One of many horror stories caused from guess what, BUYING A DEPRECIATING HOUSE
Screwed.
"But her hefty mortgage payment puts Cardenas, 45, in a financial hole each month. She can't save for her children's college education or her retirement. And now the loan threatens her efforts to provide a comfortable home for her family, including her 79-year-old mother.
Next month, the financial pressure will mount when the adjustable rate on Cardenas' $410,000 mortgage increases, raising her monthly payment by $462 to $3,291."
"I'm scared to death just thinking about it," Cardenas said.
"The loan should have never been made, and she should have never taken it out because she couldn't afford it in the first place," Hartman said.
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