The facts are that there these loans were not designed for the long term. Now, borrowers are “stuck” in them. Like a communist loan of sorts and the lenders and servicers are the dictators.

People can’t get out of them, EVER!

It’s worse then a pay day loan on steroids.

For that fact, they should be recalled immediately do to their predatory nature. Regardless of who the victims are.

I think you will agree JacMac, even if you weren’t in this situation, I feel ou would have the same view.

This will conclude the Moe Report.

Moe, in this sentence, “but” means, forget everything that I just said.

It doesn’t matter how many times it’s pointed out that not all homeowners were looking to strike it rich, Alan seems to be hell bent on bashing the homeowners who made bad choices. He is the supreme authority on what “life’s necessities” are and the moral police on lending practices — oops, I’m sorry, I mean borrowing practices.

Lending practices, corrupt and fraudulant though they may be, does not seem to make it onto his radar screen. In fact, the fraudulant schemes of the banks, Loan Officers and brokers to entrap borrowers into defective loan products that the professionals in the industry knew would blow up in the borrower’s face does not seem to matter in the grand scheme of things when Alan is chastising the borrowers who HE has had declared spent too much on “crap” and bought too much house.

We should all listen closely and carfully to Alan, because he has determined that MOST (?????) of the stories here are mostly about cash out refinances for “various stupid reasons” — Alan has declared it, so it must be so. He is not going to feel sorry. Well, he has spoken!

It’s about a system that failed and lenders that took advantage of a failed syetem by creating defective credit instruments ie: subprime loans.

It does not matter what the end consumer did. They did not cross the line of “predatory lending”, “steering” and massive fraud. Yes, alan, some did. But in no way shape or form in the way that the dealers did.

Yes, alan, the lenders and Wall Street were the dealers of this mess that we now sit in.

NOT HOMEOWNERS.

Regardless of how and where homeowners are, it was at the finger tips of a serioulsy flawed system that was meant to fail for the have nots and make the have’s sickly rich.

You do not blame a person for eating tainted beef, because he bought it form the store. You don’t blame a person for dying, because he took a drug that he did not know that was dangerous.

Yes, some people bought homes they could not afford but it was based on lenders selling funny money.

I’ll be damned if I am going to see 2 million foreclosures because of what lenders and wall street created and just watch Alan, there will be a massive bail out of homeowners and these scams will be front page fro years to come and many CEO’s and CFO’s will perish in Federal Prisons.

Guaranfrickenteed!

Lao Tzu

When you get free time you should watch SNL clip on youtube where they present the concept that you have so hard time understanding “Do not buy stuff you can not afford”.

The simple fact is that you have to pay for what you buy. Looks like you are trying to wiggle out of the payment part and keep the stuff giving all kind of rationalizations why you deserve it. Go on, but no sane person will buy that.

“why are you so interested in playing shrink when issue is that people feel entitled to spend as they wish and NOT PAY for consequences ? Very fine example of demagoguery on your part:When you can’t have rational argument you start attacking messenger. Grow up.”

Psychologically, we call that projection. You are the only one attacking here.

“I can not have compassion . . .”

Psychologically, if you give a person enough “room” they will always eventually tell you some undeniable truths about the way they think and view the world.

I have zero interest in conversing with closed minded people — if I wanted to do that, all I’[d have to do is go over and see my mother.

You’re describing the world you live in, through your tainted, jaded eyes.

I live in the REAL world. In my world people vary in intentions, thoughts, desire, behaviors, and I don’t ascribe the fallibilities of one group to all.

“Why are you so interested in playing shrink when issue is that people feel entitled to spend as they wish and NOT PAY for consequences ?”

Alan, that is not the issue at all, not the entire issue, and at most only a small part of the very big issue — but I’ll let Moe explain it to you. Although, I’m sure he might be tired of repeating himself.

Instead we see people complaining who refinanced car loans, credit cards, who took cash outs for “business ventures” like that old lady and so on and now wanting recall. Well if you want to return the product don’t forget about cash you pulled and put i back.”

Like I said, Alan — jaded. What did you have, an ex-wife who liked to spend money a bit too much: an over-indulgent teenager?

Open your mind. We all can’t fit into your little box. Get off of your high horse and have a little compassion — it won’t kill you and it just might make you into a better person.

Life has taught me one thing, judgmental people either do this willingly or the good Lord (karma, life — whatever you want to call it) kicks their butt to the ground and teaches them the hard way.