Belly Surfing is just sexual innuendo about lesbian shenanigans, right? SPAM

@ SugarPie: Hey now, you have to take responsibility.

:: points to baby-bump ::

nah...it was just a food baby.

Wait, but, what?

Scissoring is sooooo confusing.

What could be confusing ?

Quote:

Originally posted by Kanzen

Wait, but, what?

Scissoring is sooooo confusing.

Day 2 : Both subjects behave as if they knew they were being observed. Disturbing. This effect was not expected from the treatment. People seeing through the interweb... It's quite awesome ! As expected though, subject F1098 started questioning herself and others. Subject hydra too but on a more deeper level and without another dose of the treatment. Awesome ! but also concerning. I need to check the dosage.
Note to self : for next observation, put clothes on. Just in case.

Totally unawesome

Quote:

Originally posted by EricLindros

For the people I didn't text about this, my sister got a new car.

She gets the price and fills out all the paperwork and is approved for the loan and all that stuff. So the salesman comes back and says that she can come back in the morning once she's updated her insurance and bring in the down payment check for $12,000 that she said she'd put down. Remember, this is after all the paperwork and all that is all done.

Her response: "Oh, well, I'm not sure. I'll have to check. I know it's between $11,000 and $12,000, but I'm not sure how much money is in my account."

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He also tells her to bring in her W2 tax form so that they can verify her income and if it's larger than she was guestimating then they might be able to get her a lower interest rate. So she looks for her W2 for like 10 minutes at home and then says, "I think I threw it away. I already did my taxes so I don't need that."

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This is how the housing market crashed a few years back and will crash again shortly.

Quote:

Originally posted by Davey45

...

This is how the housing market crashed a few years back and will crash again shortly.

It's all EL's sister fault

Oh swell. Here I am trying to refi my house and that bitch is going to crash the market again ?
Curse that woman and her crummy brother too.

F.

Banks loaning people large sums of money despite people not knowing how much money they have or how much money they make in a year. It's a recipe for disaster.

Quote:

Originally posted by Davey45

...

This is how the housing market crashed a few years back and will crash again shortly.

By putting 12,000 down on car that costs 20,000 - 25,000? Thats a pretty low risk loan.

**edit**
Didn't see your 2nd message

Davey,

From what I am experiencing in refi'n my home at htis time in a "good" market, I can tell you that the lender's requirements are totally different than when i bought at the peak of the market 9 years ago when it was pretty much an anything goes market.

You need to recalibrate your view of what is going on. Also, if I understand the inferences in your comment, a few nefarious fellows on Wall Street were more than enablers of that bad behaviour -they were the the ignition source for the credit holocost that followed.

F, rates are still pretty good but had you done it about a year ago you might have saved yourself some basis points.


And, yeah, you guys don't really know what caused the housing crash, I see. Maw and Paw Spendthrift living beyond their means wasn't what brought down the US economy and almost bankrupted every major financial institution in the country.

I mean, sure, one of the downstream effects of it was people getting loans that they wouldn't have qualified for had the banks been doing proper underwriting, but the bigger question is why weren't the banks doing their due diligence. (Answer: The financialization of the mortgage industry and $$$....basically what F said)

I blame Bangs.

Don't talk ill of the dead.

The rates are still very low and if you're refinancing to get in at a better rate, now is a pretty good time. My previous comment was a very watered-down over simplified explanation of the housing crash. There were plenty of variables. There's plenty of blame to go around but people buying things they can't really afford is usually a big part of any debt crisis.

That reminds me something a friend of mine talked me about : his sister emigrated to the US and wanted to buy a house. So she needed a loan, already had some savings and a good income. But the bank denied her the loan because she didn't get a loan previously.
So what she had to do is buy a TV with credit (which she would have normally bought directly) to get her the loan for the house. I just don't get it.

Aso, to EL : which one of you and your sister are Maw and Paw ?

Quote:

Originally posted by Davey45

There's plenty of blame to go around but people buying things they can't really afford is usually a big part of any debt crisis.

Okay, yes, that was small part of it, but why were they allowed to do so when such a thing had never before occurred, in the history of the US housing market?

You know, if you walk into a bank and say, "Hey, give me some money so I can buy a house!" they've typically said said things like, "Well, let's see how much you're going to put down and some income statements and we'll get back to you." In the middle of the last decade the answer changed to something more like, "SURE!" That's not the fault of the home buyers.


Of the two parties -- the lender and the potential homeowner -- which do you think generally has the actuarial knowledge and financial sophistication to make the best determination of how much an individual should be able to borrow? The lender, obviously. So, when a large portion of the home loan originators in the country stop performing the duty they've done for literally the history of their industry, we should look to see why that happened. It's not because a rogue group of people walked into their offices and suddenly demanded no-documentation loans, whereas borrowers in the past were frugal angels, unwilling to get in over their heads. It's because people, in many cases, will take the best thing that is offered to them, and if the offer is that they can have a great large house on what seems like a reasonable payment they don't have the financial sophistication or background to understand that they're getting in over their heads, or that their loan re-sets in a number of years or that they've got a crazy balloon payment at the end of 5 years or whatever.

And this is before we even start talking about the loan servicing industry, which actually wants people to default because they get money for every home that goes into foreclosure and they've sold the MBS to other investors so that they don't lose any money on the default.


The mortgage lending and servicing industries turned into a big clusterfuck of rapaciousness, designed to separate as many people from as much money as quickly as they could, consequences be damned - mostly because they didn't have to pay them as they'd pawned them off on other "investors" and figured to get out of those deals before it all blew up. And, as it turned out, even when it did all blow most were saved from complete failure by federal government backstops.

Presented without comment:

Roberto Cavalli and girlfriend (this is a different picture than the one I posted last time of he and his girlfriend)

Quote:

Originally posted by EricLindros

Presented without comment:

Roberto Cavalli and girlfriend (this is a different picture than the one I posted last time of he and his girlfriend)

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Still pure love