shah269 0 #76 September 29, 2011 Bill be honest, these guys got the money at 1% inflation is at best 3% thus if they had the money for 1 year and paid it back they actually made 2% on that money. Come on now, wouldn't it be great if those of us who have a proven record history of responsible credit and work history could tap that 1% cost of capital? But who am I kidding? That will never happen. As such, there goes that money. But I did call my attorney and well though they will get my money they will also get a nice thorn in their side as well. I know it's nothing, no more than a splinter on the flee on a rats ass but it's something. And in this day and age of the empowered bank I'll take that. And once her name is removed, I will maybe have more options. Till then enjoy your fees, I hear the average compensation package on Wallstreet last year was just shy of $200k with bonuses that ranged from $30k-$well do you really want to know?Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay. The only thing that falls from the sky is birdshit and fools! Quote Share this post Link to post Share on other sites
mnealtx 0 #77 September 29, 2011 QuoteTill then enjoy your fees, I hear the average compensation package on Wallstreet last year was just shy of $200k with bonuses that ranged from $30k-$well do you really want to know? And you're becoming an MBA to work for free, I take it?Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
shah269 0 #78 September 29, 2011 QuoteQuoteTill then enjoy your fees, I hear the average compensation package on Wallstreet last year was just shy of $200k with bonuses that ranged from $30k-$well do you really want to know? And you're becoming an MBA to work for free, I take it? Nope but I'll be darned if i'm going to break the law just to make cash. I think that would be the curx of this thread.Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay. The only thing that falls from the sky is birdshit and fools! Quote Share this post Link to post Share on other sites
billvon 3,080 #79 September 29, 2011 >I think that would be the curx of this thread. That would actually be the opposite of what you said in the OP in this thread. Quote Share this post Link to post Share on other sites
DougH 270 #80 September 29, 2011 Quote But who am I kidding? That will never happen. As such, there goes that money. But I did call my attorney and well though they will get my money they will also get a nice thorn in their side as well. Oh yeah??? A thorn in their sides, your lawyer is going to get THEM, sounds like more of the same bullshit! It sounds so official, and likely! I called my divorce attorney... he is going to show those bankers... they are going downnnnnnnnn. Do you really believe the stuff you post? Are you going to sue them for allowing you to be part of the bubble problem. They shouldn't have let you buy a house, you weren't qualified! You guys charged me an extra service charge, I AM SUING YOU! This sounds like that South Park episode, only less entertaining, waaaaaaay less. I predict the next thread to be about how much the lawyer wants to go after the bankers. "That dirtbag Lawyer, he wants a 5K dollar retainer to go after the bankers for my 3K closing costs. After all the Federal education loans we gave to lawyers he should represent me for free. Do you know how much money lawyers make, and the rates they get on their school loans. Sniffle sniffle grumble grumble" "The restraining order says you're only allowed to touch me in freefall" =P Quote Share this post Link to post Share on other sites
normiss 865 #81 September 29, 2011 He keeps ignoring that. Maybe if we let his boss in on his attitude. Or the FBI with his repeated nuclear threats. Quote Share this post Link to post Share on other sites
marks2065 0 #82 September 29, 2011 QuoteThe logic was that if everybody were forced to accept the money, then doing so would give cover to those banks who needed the money vs. those that didn't and the market wouldn't go after the banks who only took the money Hum.......so.....shoudl I feel bad that money was given away or feel bad that money was given away to those who didn't need it? And I'm sorry at 1% interest....money was given away. I wish I as an average Joe could be forced to accept money at 1% interest! I'm sorry I do not feel bad for the banks or those who created this mess. If it were up to me it would be a capital crime. And not just for the banker. The entire family. Kids, wife, dog and cat. If the banks had done there job you wouldn't have even got the loan, no down payment no loan is what they should have said to you. But you wanted the house so you got it, along with the responsibilty of the contract. Now you have a problem and are mad the banks for charging you to fix your problem. The banks getting tarp money has nothing to do with your problem or charging you for sevices rendered. If you are mad you should be mad at yourself for not continuing you marraige contract. You should be mad at yourself and your lawyer for letting the divorce contract put you in this position. Seems to me that you must be the problem, there are 3 contracts that you entered into (marriage, divorce, and loan)now that you are mad about honoring and looking to others to bame and try to weasel out of. maybe you should read and understand the contracts you enter into, shouldn't be hard I heard you have a MBA or something. Quote Share this post Link to post Share on other sites
marks2065 0 #83 September 29, 2011 QuoteBill be honest, these guys got the money at 1% inflation is at best 3% thus if they had the money for 1 year and paid it back they actually made 2% on that money. Come on now, wouldn't it be great if those of us who have a proven record history of responsible credit and work history could tap that 1% cost of capital? But who am I kidding? That will never happen. As such, there goes that money. But I did call my attorney and well though they will get my money they will also get a nice thorn in their side as well. I know it's nothing, no more than a splinter on the flee on a rats ass but it's something. And in this day and age of the empowered bank I'll take that. And once her name is removed, I will maybe have more options. Till then enjoy your fees, I hear the average compensation package on Wallstreet last year was just shy of $200k with bonuses that ranged from $30k-$well do you really want to know? you are bitching about banker salery and you can afford that house? kinda makes one wonder if you are getting paid to mauch also. Quote Share this post Link to post Share on other sites
chutem 0 #84 September 29, 2011 You're upset that you have to pay $3000 to remove the only person from the loan who has not publicly announced their intention to default. If the bankers ever found a way to connect you to this thread you'd be lucky to modify the loan for any price. James Quote Share this post Link to post Share on other sites
kelpdiver 2 #85 September 29, 2011 Quote He keeps ignoring that. Maybe if we let his boss in on his attitude. Or the FBI with his repeated nuclear threats. given that PhillyKev got fired from his job because of some asshole here, not a good joke. Unless he starts threatening people here, what's is blabbed here, stays here. Quote Share this post Link to post Share on other sites
kelpdiver 2 #86 September 29, 2011 QuoteQuote>At the time an 80/20 i had to provide sufficient information as to my credit >worthiness. . . .I hear our banking professionals made some very good coin off those little nuggets. Should you have been banned from getting that loan? No I had demonstrated credit worthiness and when it was said and done the mortgage consumed about 45% of MY income. With the income of the X it was about 35% so there were no issues there. It's just that some played a game and took the bottom out from the rest of us and we now have to pay for their ill gotten gains. So what can we do? From the looks of it we have two choices. Keep paying these fees or go for the nuclear option. actually, long standing guidelines have been that the mortgage costs shouldn't exceed 28% of income, and total debt servicing should max at 38%. In high price areas, this translated into 38% for housing if there was no other debt. So even with the wife, you barely qualified. Without her, you did not. And since you've been eager to blame the mortgage industry for the blow up, note that it's quite possible that in the reactive regulations, you will no longer be able to take loans out with such terms. Well, the 0% down part is already gone from the equation. Quote Share this post Link to post Share on other sites
kelpdiver 2 #87 September 29, 2011 Quote And what can the IRS do? The IRS can easily garnish your wages to pay for your deficiency tax bill. The bank isn't nearly so able. With the number of houses underwater, there may be legislative relief so you won't be accessed a 60k taxable gain. But I don't know if that applies to those who bail on their loan, as opposed to those who get a short sale approved and completed. Quote Share this post Link to post Share on other sites
billvon 3,080 #88 September 29, 2011 >And since you've been eager to blame the mortgage industry for the blow up, note >that it's quite possible that in the reactive regulations, you will no longer be able to >take loans out with such terms. True. Which may be a good thing; he will be prohibited from getting another loan he doesn't like. Quote Share this post Link to post Share on other sites
kelpdiver 2 #89 September 29, 2011 QuoteQuoteIf you did the re-fi you were looking at before would you be able to remove your ex's name in the same transaction? If so that would be 3K of the I think $15K they wanted to do the re-fi and lower your payments. James James thank you but why throw good money after bad? $20K+ for a refi on a property I hate? And at a savings of $200 a month....how many years to make that $20k back? On the last of these rant threads, the price was 15k. On the thread prior, the savings was $500/month. It was a slam dunk obvious choice. Now you say it's 20k and 200. For those terms, no, it wouldn't be worthwhile. However, you've shown a clear pattern of exaggeration with numbers, so I don't see these as credible. Or the bank just doesn't want your business, so they're not offering 4.x% rates for your 126% LTV property without your wife paying some of the bills. Quote Share this post Link to post Share on other sites
kelpdiver 2 #90 September 29, 2011 Quote I have to remove my x wife's name off my mortgage. I paid for the thing from day one. Have the paper trail to indicate as such. YET in the banks epic wisdom have decided that it would be in their best interest to charge me an amazing $3k in closing costs. Now contract law indicates a form of compensation must be put forth when a contract is modified. But really...$3k. It doesn't really matter what sort of paper trail you have. You live in an equitable property state - anything acquired during the marriage is a shared asset. And really, while you paid for the house, she paid for other things. You already showed that you couldn't have qualified for this mortgage without her, else the debt to income ratio would have bee too high. Quote Share this post Link to post Share on other sites
DrewEckhardt 0 #91 September 29, 2011 Quote>Maybe strategic default is the only real bullet the common man has in this war. Sure. Problem is the banks and the IRS have some better bullets. (And BTW admitting on a public forum that you plan to defraud the bank might give them a few more bullets.) It depends. For example, California is a non-recourse state. As long as you have a first mortgage here that wasn't a refinance the banks can't do anything about some one who walks away apart from dropping their credit score. The IRS can't do anything either because cancellation of non-recourse debt is not considered taxable income. In recourse states the banks can come after you; although under the Mortgage Forgiveness Debt Relief Act of 2007 forgiven debt from a principle residence doesn't count as taxable income. Quote Share this post Link to post Share on other sites
billvon 3,080 #92 September 29, 2011 >In recourse states the banks can come after you . . . . . . and New Jersey is a recourse state. Quote Share this post Link to post Share on other sites
dks13827 3 #93 September 29, 2011 Shah, didn't I warn you about.... oh... forget it. Next time don't get married without a contract ! Quote Share this post Link to post Share on other sites
normiss 865 #94 September 29, 2011 Well duh. I don't drop dimes on people. Quote Share this post Link to post Share on other sites
pirana 0 #95 September 29, 2011 I'll go with the common thief of the common banker." . . . the lust for power can be just as completely satisfied by suggesting people into loving their servitude as by flogging them and kicking them into obedience." -- Aldous Huxley Quote Share this post Link to post Share on other sites
shah269 0 #96 September 30, 2011 QuoteWell duh. I don't drop dimes on people. dude for lack of a better word go fuck yourself. I'm done with this. Thanks for all the personal attacks.Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay. The only thing that falls from the sky is birdshit and fools! Quote Share this post Link to post Share on other sites
kelpdiver 2 #97 September 30, 2011 Quote I'm done with this. Thanks for all the personal attacks. Ok, we'll see you next week for iteration #4! Quote Share this post Link to post Share on other sites
fanya 3 #98 September 30, 2011 QuoteQuoteWell duh. I don't drop dimes on people. dude for lack of a better word go fuck yourself. I'm done with this. Thanks for all the personal attacks. Oh look another Shah thread. People are bashing on because you seem unable to understand a couple key things... You got married You bought a house You took out a loan To make matters worse YOU took out a zero money down loan You got divorced, as part of that divorce you had to refinance. YOU are up to your neck.in shit because of a very long string of poor decisions. But it's the bankers fault not yours, makes compete sense. Quote Share this post Link to post Share on other sites
DougH 270 #99 September 30, 2011 The Shah threads really bring people together around here! Shah have you considered that you are inviting all of this with these scapegoating posts where you just refuse to consider your responsibility for your situation. See you again next week?"The restraining order says you're only allowed to touch me in freefall" =P Quote Share this post Link to post Share on other sites
normiss 865 #100 September 30, 2011 Damn. I said I would do you no harm man. SIUCC. Thanks for the invite. Quote Share this post Link to post Share on other sites
