Zillow Advice: Housing Market - Poll: who is the victim

"Every single time I have ...

Fri, 03 Oct 2008 15:53:00 GMT

"Every single time I have had to initial the HUD and that I didn’t in fact understand all the documents contained in the closing"

oops ...should be DID in fact understand ....

Pasadenan, What have ...

Fri, 03 Oct 2008 14:48:00 GMT

Pasadenan,

What have I changed my mind about. I have said in the past the Boston Market is not in as bad a shape as other parts of the country and I still believe that to be the case.

The thing that I find to be the most interesting is if you look at the Case Shiller Index in Boston for Low, Medium and High end you will note that the biggest bubble appears in the "Ghetto Fab" group. I interpret that as the group that was exploited the most during the run up. Whether you are willing to admit it or not the lower income homes will typically be the less educated.

"My name is ALLAN . As for ...

Fri, 03 Oct 2008 14:18:00 GMT

"My name is ALLAN . As for tomdavie, he was booted off. Why do you guys continue to call me ALLEN or ALEN.????"

Why do you call yourself "Sir Allan" is what I'm wondering. Have you been knighted?

IMO this is no different ...

Fri, 03 Oct 2008 11:20:00 GMT

IMO this is no different than people hearing a hot stock tip and wildly throwing their saving into a game that they no nothing about.

"There are two main types ...

Fri, 03 Oct 2008 11:19:00 GMT

"There are two main types of options: calls and puts. A call gives you the right to buy a set number of shares, at a set price, within a certain period of time (often just a few months). For this right, you pay a price premium"

"Options are not for beginning investors, and even advanced investors might consider steering clear. But some investors do find them worthwhile. If you're really interested, make sure you do a lot of homework before jumping in".

Banks allowed uneducated/ non savvy buyers to become "investors" by essentially making it easy for the average person to buy "call" options on housing. The difference is many people didn’t know they were doing this because a home is a tangible asset. So to place blame squarely in the correct place , the banks are responsible for the financial mess on wall street but the “average joe” is responsible for their own financial demise. Banks shouldn’t have allowed people to buy naked calls but the bank didn’t hold a gun to anyone’s head. I have bought and sold many homes and land in the last 10 years. Every single time I have had to initial the HUD and that I didn’t in fact understand all the documents contained in the closing. People were convinced this was a sure fire winner and you couldn’t possibly go wrong/ couldn’t possibly lose money.

Was I the only one who’s parents told them prior to their 10th birthday “ if it’s too good to be true… it probably is”.

pasa, you dont know mych ...

Fri, 03 Oct 2008 09:10:00 GMT

pasa, you dont know mych about chess, do you? lol i have known some chess masters and have actually played their kids... TRUST ME when i say this, they can predict your next move before you have even picked picked your move.

i believe you allan you seem to bee more middle of the road than the others, as part of an FYI i would never place any personal info on this board. you really ought to take your e-mail off. we have a troll problem

although on the flip side. the lenders who approved the folks and told them they could afford it and refinance later should have had no influence over these people.

yep thats just it. you cant write people off "oh they arent experts, how can they be expected to know " you have a monthly payment in front of you. YOU HAVE THE NUMBER. you have to be some kind of a financial wizard to say "yes i can pay this" "no i cant afford this" i will take a step back and say WAMU and WACHOVIA and their neg ams were the kind of product that was confusing, but everyone should know if they can make their payment. if you know the payment WILL go up in 3 years or 5, then you ask what is the payment @ 7% . as for refinancing? people should not be renting homes from banks. again it doesnt take a financial genious to realize that if you rent from a bank it costs you 5k to refinance and 5k in realtor fees upfront. again this is not a hidden fact.if you never want to pay off your house and just live there, rent. the monthly payment is cheaper, there are no $5000 renewals every 5 years.

...

Fri, 03 Oct 2008 06:42:00 GMT

My name is ALLAN . As for tomdavie, he was booted off. Why do you guys continue to call me ALLEN or ALEN.???? On top of this, you don't even have a name or email. You are totally nameless. I am sorry you and your BLANK id doesn't like my posts about modifying mortgages but you shouldn't be such a child about it.

Well, Since Alen has only ...

Fri, 03 Oct 2008 05:39:00 GMT

Well, Since Alen has only been posting on Zillow using that profile since 9/5/08 (less than 1 month) and already has 342 posts, and the user name for that profile used to be Zorrow, and is an Alias for Tom Davie (Tom368612) (a lender in Florida) according to the Elmo Thread on the Mixed bag discussion board, that used to be on the Mortgage discussion board, and tom's profile has been "locked" by Zillow, it appears clear that it is Tom that has the problem he's projecting on others.

I'm actually surprised that ...

Fri, 03 Oct 2008 04:54:00 GMT

I'm actually surprised that Andrew changed his message from several months ago. Although I still don't completely agree with him, it is a lot better than what he was telling us about the market six months ago.

...

Fri, 03 Oct 2008 03:36:00 GMT

God Bless Andrew Adams. He doesn't care about puffing out his ego while people suffer. No kidding average people got suckered into buying homes. They aren't financial experts. They were sold products that lenders dreamed up in the first place. According to some on here, the lenders who approved the folks and told them they could afford it and refinance later should have had no influence over these people. The whole thing is ridiculous. I think it goes down to GLOATING by some on here who want to let everyone know how smart they were compared to the rest who are now suffering.

Remember folks............let em all rot ............. (since it doesnt affect us that is )