Mortgage 12-6-07

" 1877469432218774694322. Poultry and one of the problems in Iowa. Huckabee and Giuliani basically operating. You know immediately both the any vote that."

" Huckabee takes away from -- benefits Giuliani's so Giuliani's never gonna with -- huckabee then. The controversy is that pops and and -- the ought to be attacked team. Because any any vote that that that Thompson would take away from. Huckabee would benefit Romney yen and -- hasn't been attacking Thompson just like Giuliani's been laying off huckabee. But the problem of course is that the three of these four people I've mentioned are campaigning in their wake in the fourth when his. Catching a short power nap that's gone on for two or three months now his name is Fred Thompson we -- one. Fox News Channel exit -- say. The the Iowa caucuses or four weeks from that I I I know it's you know we're still three weeks for christmas but that's the reality but it's coming up real fast. These and these say. No signal and they say. I know he lives there. You know I've got a dog as hopeless as his campaign is he's moved his entire family out the Iowa"

" 1877469432218774694322. Someone in my email messages today and -- gets I get a lot of spam like everybody does guess one of my spam messages as from today. Countrywide mortgages. You know that's one of the cut this will be going belly up I thought. But I read about them all the time you know their their stock is way down they have this. This guy a on he's like the musicians like the music man he's on CNBC or fox business channel upon -- his name is -- that. He's talking about it's gonna save the company and it does that you know going to the oil for a few thousand -- but everything's going to be okay. But there's still solid -- still trying to sell more mortgages. But I bring up in the context."

" And they -- The -- did -- any right there that's the only thing."

" Next time Jim try the decaf folk that's it's Jim Cramer from -- CNBC. You know. I understand they they came up with a plan today for the for for freezing interest rates for certain sub prime mortgages for five years. In this -- it's supposed to combat soaring tide of foreclosures okay. And I I understand that trying to -- to do this for the economy they say that the you know if you have these foreclosures continuing. That there it it increases the likelihood of recession they announced the plan the stock market is up again it's it's almost back to want to -- was few few weeks ago baby a month ago. But Mike -- question for you --"

" Should the government really be in the business of bailing people out who make really stupid investments. -- get themselves in over their heads. Is is that what the government is all about is that what the government should be doing I mean when you quit."

" We knew -- I just think don't such a huge percentage of the population does it. And get themselves into trouble that may be it's not necessarily that they're stupid although I think there are but more that there's something wrong with the system and maybe that's what needs to be addressed."

" Cindy I don't know about you but it whenever I have bug gotten a mortgage even if I'm just you know getting a new mortgage to cut down my interest -- refinance or whatever. It's been made extremely clear committee. What exactly I was getting into and and the people that I was the doing business with made it very clear to me. That after X number of yours -- there if I had an adjustable rate mortgage that I faced the possibility. Of paying a higher interest rate. Right -- you know I'm not -- I'm not saying I'm I'm without sympathy totally for the people got themselves into these jams but you know I come back to the to that old saying. Caviar emptor let the buyer beware. Under the typical so what they're going to do was they're gonna say they're going to freeze the -- the rates. At these at these low levels are these lower levels is not that low -- These lower levels for another five years but you have to be living in the house so that way you know bail out speculators okay that's okay that's all right. But again. I mean are our what are the what are they gonna don't -- Ms. tapping device is happy going to be able to put out to the government say you know I didn't I should've bought that issue today. I didn't have money for the issue be I don't know why did it I can't afford 500 dollars a month worker produced cheap best that. Can you can it come right out only paid 300 bucks a month from my issue. -- with Elvis and you make it you make a store open investment you you you pay the price. Have a message for every homeowner worried about rising mortgage payments the best you can do for your family is to call 18099 quote. By the way that was the wrong number about. I wasn't his fault his aides did that that's don't call that number by the yesterday a collection about power power later. Called war on the that anymore. Under the typical sorts subpar -- of those offered to borrowers with spotty credit histories. The rates for the first two years -- levels around seven -- 9% but after two years those rates were scheduled to reset the levels. -- around nine to 11%. Hence the name -- adjustable rate mortgages giving maybe. Excuse me mister realtor why they call this an arm. The Steelers. Arm adjustable rate mortgage. Does not mean the rates Gordon that after doing here is most likely -- After for a typical 1200 dollar money set could add another 350 dollars to the monthly payment greatly raising the risk of loan defaults by homeowners struggling with the current payment. It C a apparently one one of the reasons that the the people -- getting into problems with these these loans is that. In the past when there with a real estate market was was booming -- and the prices were going up just about an every year in every part of the country. People could if they got if they really got to the problems they could sell out and get and cash out and still come up with some money to buy it cheaper place or move into rental place. Now a lot of people under water -- guess what. The market that was going up has come and imagine that. The market couldn't defy the law of gravity. I yeah again I just I can't believe that you know people say what the bank ski of these people will. The banks the banks were ordered weren't they by the government. To stop redlining -- in the in neighborhoods were people that have a lot of money that we're told. You know you can you can't discriminate against poor people by not giving the mortgages. Now they've been given mortgages a lot of them can't pay additional step but Ed you know what I did that that to have been make our payments -- of have been dealing with arms and -- switching them the fixed rates. Edit where we're pick up the tab would pick up the -- the -- married -- Well somebody is going to have to pay for -- someone as someone is going to pay is is going to -- taken taken a bath on this and you you know that you're really -- re -- the tax laws so that they're going to give them by the going to -- lead the banks and the the -- the investors some kind of but pax deal to wanted to make up for the fact that they're they're losing the the the interest rate increases. You know that's the way it'll work. I just I don't think it's my responsibility to deal with this Bob your next with our cargo ahead Bob."

" How are you serious you just trying to drum up call up. How where where support every single loser in the world. You name it unwed mothers actually say welfare it's. -- evidences. People a lot of these people are just working people got antley pick out wives again highway every days ago 45 minutes -- work your retarded on."

" I'm not turning on the -- just saying that they should they should have to live with the consequences of their decisions."

" Right about everybody else has done right these people they've made a lot of these people may want stupid financial mistake as they wanted to provide probably a whole."

" Okay and stupid mistake yeah. If you felt like a defense attorney Mike why -- one stupid mistake what he robbed that bank."

" Well did they -- rob a bank. Also the people what they did it."

" Robert -- Bob. Ahmad they thought they were they thought that they could blows."

" How well everybody thinks that it real estate. But they've made a mistake what happens with."

" They stated you know what I made a mistake wants to I bought I bought a a place I should the body just what happened I lost money on it."

" If you lose your shirt like Sony people they'll lose everything."

" Well that's you know I didn't I didn't have my shirt in the game my -- that you know everybody at some point can lose their shirt you know I mean these. This of one of these people should not have gotten into this."

" Worse they should now that's what I try to tell you lives what that this is going to cost society is so small compared Arlene bail -- were given all these other people who truly make more mistake after mistake after this there's."

" No it again weather and you know what what have we got to show week you -- all the programs meant the war on poverty. What do we have I have read your property right. So so you so we're going to bail people out from making bad investment decisions guess what we're gonna get we're gonna get more bad investments."

" You know we're gonna get we're gonna get some people who worked hard their whole actually lose her home who don't bankrupt."

" So how values are your congressman -- are we assets I totally. The -- digital Hartford's I don't care what -- republic thing I'd ever go to war -- as a junkies."

" How -- conservative that the gap comes as one. I have I feel these people."

" I feel for until they could have they shouldn't have bought. How's -- conservative I all the I've thought that's what I know why people old house since I was 20 iced my first house was adequate the crappy as part of Somerville. Bite my nails before -- before -- put money down I borrowed some money for the down payment I don't but I you know I made sure that I could do what because guess what doors nobody standing in the wings to bail me out."

" But how weak -- the probably can be corrected. Okay he's along companies can be regulated that a"

" though it's particularly for your debate were bailing -- I mean again you could say okay what that we have some unwed mothers in the inner city we can we can correct this problem so we're gonna start giving them welfare in 1965 guess what all of a sudden now we have. Now we have a giant problem with -- unwed mothers that we we give we -- we gave money a monthly payment the junkies we got more junkies you the same thing's going to happen here. Call 18099 -- hope. Thanks for the call Bob Jason your next with how we cargo ahead Jason."

" next my next door neighbor had spent panic the last couple Marat because they're rate it ought to which I thought yeah. Yesterday and it would -- new truck after the revenues because not up to worry anymore."

" I -- bought this still listening to this is a battery very telling tale that you this year was."

" Well you don't. -- and -- mistake they know they don't have to pay their mistake anymore but it made another mistake but we're going to build on what."

" Yeah bet -- you know you have -- don't like the old story about the you know the of the tortoise and the -- ignored the of the pants right the the -- what's the other incite the -- work hard and -- that the other -- doesn't do what -- thing just screws around the that he asked to be -- in the call right."

" That's right when I get right but I hope they try to give me you know just what told a lot of but he expects. Because I don't -- order happened."

" I I now I -- and the and the thing is your your neighbors also figured that the pro that the real estate market was almost going to go walk."

" a dog out of the way want to look -- Williams."

" Thanks for the call Jason 1877469432 to cart your next with how we cargo ahead cart."

" Tally active I think critical backward I think that that question is down as buddies in the large companies. I even care about individual investor I don't blame that they've made them that they made a big mistake but this is different about them to distribute the spectrum and it."

" I understand Doug -- I mean it's it's about the whole economies and to you know on again that's why I think this since they worked out this deal I think that's why the stock market has been up again. I'm just saying I mean why don't why don't we have the bail out anybody go cart."

" Pay -- lady luck everybody may have -- they think they got and they look they're going to get rich or stay rich or keep the money. Individual investors -- getting a -- last year and economic act financial decisions and uncle Ben's gonna bail me out."

" Yeah exactly that's that's the reality in Italy said the same thing one would would Chrysler was bailed out. And you know it's in in in retrospect it's good Christ was bailed out they get paid back the money all this. They have another trouble again and in the the reality is too that the people who -- getting these advantages are are you think he's going to get into more trouble. Thanks for the call -- Jim your necks like like the guy like Jason's neighbor there with the new track gem your next with how we cargo ahead gem."

" Howard this topic gets my goat every time I was trying to restore America that they liked what I guess I did it but right way. And I have a 30 year fixed. I didn't go to the arm I didn't you know I knew what was going to happen. And yet I don't Kennedy how to spell out there what that they got my payments for six months that keep -- then what they're going to be given these people. And I did give me a -- six months. Big you know -- TV you know I could have a -- spirit that I got to -- I don't have a red carpet 12 O'Clock -- Could -- payment yeah. I don't believe that"

" I now. I know you're you're you're be minutes not bad behavior but it's -- there were -- foolish behavior"

" I I great you know today. We you know we like that brought us for twice so what -- for open you have respect you know just in case you -- the job market goes there are some like that which is go to army. They noted these people -- held out. For a way over their heads it's -- fortify -- at our house they could've bought a 200000 dollar out -- met those payments and now we're all going to pay for."

" Yeah we are that's the reality of it thanks for the call -- we'll take more calls on this 18774694322 on the -- car."

" There -- sensible response to a serious -- Going congress to move forward -- Join with -- in delivering relief to homeowners in need so we can keep our economy helping the American dream 1877. Wave of mortgage. It works quite dumping more -- properties. Already flooded market further depressing home prices and shaking."

" If you refinance that a lot of a lot of these people are problems because they've refinanced you know me they the they bought the house in I don't know 2000. They they waited a couple of years house had appreciated a 100000 value so they they they. Get a new mortgage refinance and they take out 100000 dollars in equity in the legal or -- and buy a new truck in a plasma screen T date. And and now. Whoa wait a second let's go up. That's why you got the low interest rate won't because it was an adjustable rate mortgage so that you could have more money to go to war robot. Call 180995 hope. Again I know that's not everybody that's in this mess but it some of the people are they've been they've been use and that that the house. It's it's a it's become a cliche to say by now but it's true they were using it is an they were using their houses an ATM. Right Ed now now they're shocked that that -- over their heads 1877469432 to shock and -- shocked rob your next with our cargo ahead rob."

" The third step all dumbing down of the US and -- departure from bush for bush from conservative Republican. When when I made a decision and that sparked its automated agents and picking -- go to go to of fixed rate. We were given up a couple of hundred -- And and the people it took the shot -- what Padilla they've fixed written area adjustable got to spend all that money like set of rhubarb. Flat screen TV's extra cars now it's coming home to roost in the government's taking care -- the stupid people. And I might point they owe us the fixed mortgage people a lot of money that they can subsidize these idiots out of the Arabic and -- back. -- but the money that we that we repair the bank because we made the right call and I just can't believe that bush is gone and the other way."

" Housing values of all of us who have fixed rate mortgages right I mean if there's more if there's more foreclosed property on the market you could say that that might affect our resale values right."

" Well so pretty up thereby establish great the -- right now and people make billions of dollars in this kind of market as well. Edit but it's not a stupid people can be protected it's just ridiculous -- I forgo. Years' worth of mortgage and and now bush comes along and based only -- it it's great."

" I don't know it recorded it a political thing -- it's it's a political and we were coming more into an election year. And the treasury secretary Paulson do you want to do this but everything just a bit too much pressure."

" But why is -- under the pressure Elaine duck you know Republicans are staying way away from him in the first place. Why did you don't want it to get immigration thing just sold his presidency and now he's doing this it's it's ludicrous"

" and only well he I think I'm sure the candidates the Republican candidates that they may not say so I think they're breathing a sigh of relief that something has been done thanks for the call rob Jeff you're next with -- ahead Jeff."

" Yes hello hours I'm not defending these people that all I gotta tell you -- financial adviser what the average person does not know about money -- anything is just astounding how. I mean I can keep in -- our Alex -- record people do that they say it my jaw just drops. I don't -- average people bought some people."

" but yoga thing is though Jeff I mean that I don't them don't the mortgage lenders have to tell you. What's going to happen in three years or five years or whenever the rated just amid -- I seem to remembers initial initially documents. Saying that you know that that the 6%. The 6% rate I'm paying could go up as high as 9% which would result an extra hundred extra dollars et cetera you know what I mean."

" They don't know if I'd ever say again. They really don't understand what"

" doing that you know if it doesn't -- I don't know what you do about that it's like eagles say you know you could lead a horse to water right."

" I don't know how to do it -- I just I -- title and it's amazing what people don't understand about money -- finances. And it just it's astounding what."

" thanks for your audio to do is understand one thing there is no free lunch. Right if somebody's gonna give you would deal now they're planning to make it up down the road. I don't I don't think you -- MBA to figure that out."

" Mystic teacher or stupid people Sean your next with -- cargo Jon right. When it the government that it -- although I. They have gone out the window."

" Then rather that rather teaches how to put that condoms on the cucumbers."

" Well you know EMI currently where -- not stop everything out and other people get bailed out and tired of it. I really. Our government on that it is -- that and make it and are you know knowing it -- about the security crisis."

" I I saw a headline the other day the the the US government debt goes up a million dollars a minute. When how much this is going to two that everything I mean when you get when you figure in the tax breaks that they're going to have -- to war. To protect these companies that made the loans. These credits or that they they they the politician of calling a predatory companies now -- may yet some kind of tax write off there will be predatory -- right. So long as they make the right number of contributions to members of both -- 1877469432 true. We move on somehow we are"