Posts that some say are rude could end up saving someone.

[brokemommy]

Seen a few posts that are a little rude, not what we want to hear, but really the person needs to hear. Below is one that this fedler posted to a member here, that I think really is right on target;


------------------------------------------------
posted by fedler

9%? 10.5% mortgages??
You guys are nuts. You'll be bankrupt again in less than 5 years. With those rates and nearly no down payment, you'll have nothing to show for it. You might as well rent. The only difference is that you can't rip down the walls.

xxxxxxx, you really floor me. You have absolutely nothing in the bank to put down. I guess that means you have a few grand tucked in the mattress to cover the costs that come with owning a home. If not, congrats ahead of time on your NEXT bankruptcy.


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You know, this individual would be much better off renting than, buying. No equity will be built at that mtg rate, plus has all the liability of repairs. This is one of those posts you don't want to hear, but if it wasn't for this goof fedler spitting it out, would have anyone else thrown it out. Probably not, I couldn't have laid it on the line like he did. I am a retired realtor, and I would say stastically almost none of these high rate no money down deals will work, unless there is massive appreciation.

[BassBoy]

I wouldn't consider this rude, but again unproductive.

Would it be too much to ask of you to not jump into every forum topic and start a thread about this sort of thing. It's counter-productive.

[anonymuse]

Sometimes there is a sliver of truth in these kind of posts; however, in this case, he may be making some wrong assumptions.

Maybe this person has saved up adequate money for those initial move in expenses, and then isn't putting anything down in preparation for that. We shouldn't be jumping to conclusions here until we know the facts.

One advantage of purchase over renting is the deductions on our tax return--there are many reasons people make this decision. Does this person have children, pets, etc?

BM, sometimes it's not just what someone says, but how they say it. His response could have been:

Before you consider these terms, consider the following:

• Do you think 9-10.5% interest is the best financial decision for you now?
• Have you compared the pros and cons versus renting?
• Do you have adequate expenses to cover the initial move in expenses associated with a new home?

Just remember, BK gives us a new start and that we all have to learn to live within our means. Just make sure you make any new decisions with that in mind.

---See the difference? Both are intended to give a wake up call; however, people get on the defensive when they're being slammed and don't look at the advice given within the post. Plus, the negativity makes some people less likely to post in fear of nasty responses. BK is hard enough and you usually don't have many people to discuss it with. We want a community here where people can play nice together in this big sandbox. We're not always going to agree, however, we should be civil.

[Minnymouth]

Not all threads are going to be "productive", not all will be "easy to hear"..... we all hate it when "somethings hit home" or its something "we don't want to hear - or - be criticized about......."

I do agree that this thread does belong in another section of the forum and will be moved to the proper section for debate......

[Tedderbear]

WELL SAID!!!!!!! THE END.......

[brokemommy]

I wouldn't consider this rude, but again unproductive.

Would it be too much to ask of you to not jump into every forum topic and start a thread about this sort of thing. It's counter-productive.

Bass,
My advice is truly factual, but unwanted. Reality can be very harsh sometimes. Most advice that is strongly worded against the opposite of what the poster wants falls on deaf ears. Bass the subject of buying a home under those crazy terms you have to agree will lead to no good, agree?

[brokemommy]

Sometimes there is a sliver of truth in these kind of posts; however, in this case, he may be making some wrong assumptions.

Maybe this person has saved up adequate money for those initial move in expenses, and then isn't putting anything down in preparation for that. We shouldn't be jumping to conclusions here until we know the facts.

One advantage of purchase over renting is the deductions on our tax return--there are many reasons people make this decision. Does this person have children, pets, etc?

BM, sometimes it's not just what someone says, but how they say it. His response could have been:

Before you consider these terms, consider the following:

• Do you think 9-10.5% interest is the best financial decision for you now?
• Have you compared the pros and cons versus renting?
• Do you have adequate expenses to cover the initial move in expenses associated with a new home?

Just remember, BK gives us a new start and that we all have to learn to live within our means. Just make sure you make any new decisions with that in mind.

---See the difference? Both are intended to give a wake up call; however, people get on the defensive when they're being slammed and don't look at the advice given within the post. Plus, the negativity makes some people less likely to post in fear of nasty responses. BK is hard enough and you usually don't have many people to discuss it with. We want a community here where people can play nice together in this big sandbox. We're not always going to agree, however, we should be civil.

Hi anon,
The tax benefit impacts few of us unless your deductions get above the standard deduct, something like $9,000 for a couple. That means if you have $9,100 in deducts from owning a house, the real benefit is $100 x (tax bracket, lets say 25%)=$25 benefit, so if you had $4,000 on top of the standard, it is worth $1,000 tax benefit. Nothing really, since look at all the expenses you incur.

[Roy]

Why shoot a a considerate messenger? The message is 'don't to get into trouble again' all be it with limited knowledge of what exactly is taking place. Let's face it, if you've purchased something clever to sell again soon, those rates aren't bad as long as you're reasonably sure there's a capital gain. If you're just buying so that you can say you own something, then you need to reconsider (quickly).

[BassBoy]

Bass,
My advice is truly factual, but unwanted. Reality can be very harsh sometimes. Most advice that is strongly worded against the opposite of what the poster wants falls on deaf ears. Bass the subject of buying a home under those crazy terms you have to agree will lead to no good, agree?

Yes brokemommy, I agree that taking a loan/credit under such terms (high interest above the norm) may not be a wise decision, however I go back to the original post and read it, then look at how another member re-worded it, and I like the re-worded version better.

New members (trollers) that come aboard must understand the we are in fragile state, and sometimes posts worded as such may set us off. We know the truth and how we got into this situation, but we don't need anyone throwing it back in our face. There needs to be certain level of respect and understanding for each of our members. It's one thing to offer sound advice and voice your opinions in order to make us think about the way we want to use our fresh start, but caution should be used with the way the post is worded.

How we use/abuse our fresh start is a great discussion and debate. I completely agree that this subject deserves to be in the forum because ALL of our members (newbies included) could benefit from it. In fact, I welcome the discussion and debate. This can truly help all of us stay on track and may enlighten us to be wise about our future financial decisions. However, none of us need to be called nuts, crazy, or being accused of hiding money (as the original poster stated), and/or congratulating us on our next BK is, and was, completely out of line (and counter productive). So, choose your words carefully and keep the respect of the member(s) in mind before you type it.

[JeepMom]

Seen a few posts that are a little rude, not what we want to hear, but really the person needs to hear. Below is one that this fedler posted to a member here, that I think really is right on target;


------------------------------------------------
posted by fedler

9%? 10.5% mortgages??
You guys are nuts. You'll be bankrupt again in less than 5 years. With those rates and nearly no down payment, you'll have nothing to show for it. You might as well rent. The only difference is that you can't rip down the walls.

xxxxxxx, you really floor me. You have absolutely nothing in the bank to put down. I guess that means you have a few grand tucked in the mattress to cover the costs that come with owning a home. If not, congrats ahead of time on your NEXT bankruptcy.


-----------------------------------------------------



You know, this individual would be much better off renting than, buying. No equity will be built at that mtg rate, plus has all the liability of repairs. This is one of those posts you don't want to hear, but if it wasn't for this goof fedler spitting it out, would have anyone else thrown it out. Probably not, I couldn't have laid it on the line like he did. I am a retired realtor, and I would say stastically almost none of these high rate no money down deals will work, unless there is massive appreciation.

Actually, no he's not. I have money to put down but then there is nothing in the bank for those repairs. I'd rather pay a higher rate for 18months and refi and have money in the bank than just pay down points on an ARM that would jump well above 10.5 in the next 5 years. Let's say I bought down points on an ARM, Emergency comes up, we don't have the closing cost money to refi. Intrest rate jumps up, payments go up. We're screwed! I could have gotten as low as 8%. BUT I'd rather "pay the insurance" of a fixed rate incase something major happen.Use some logic.


I really wonder if you were a realtor. Your real estate advice is terrible. You don't understand that the transactions go back and forth for a while even after the offer is accepted. You don't think owning a home has more bennifits than renting. Ya know, I think I see why you "retired" after 6 years. BTW, retirement is 20 years, not 6 years. You QUIT being a realtor, you didn't retire from it.

Why shoot a a considerate messenger? The message is 'don't to get into trouble again' all be it with limited knowledge of what exactly is taking place. Let's face it, if you've purchased something clever to sell again soon, those rates aren't bad as long as you're reasonably sure there's a capital gain. If you're just buying so that you can say you own something, then you need to reconsider (quickly).

Thank you! We plan on putting $10K into this house and getting $25K out of it. We're doing major face lifts, putting on a deck and sliding glass doors, and much more. I think had we gone with the first house, yea, that was a mistake. I'm glad it fell through. I don't think we would of had a quick turn around on it. The one we are purchasing now a turn around easy.

[JeepMom]

Ok, last of the multi posts here.

If you were so "concerned" brokemommy why start a shit-stirring thread about my situation?

I don't get it.....if my friends(and by no means are you a friend of mine) IRL are concerned about me they let me know. They don't publicly make comments about my situation without using my name. It's immature and childish. I assume you did it this way because you really know that the OP of the comment is a troll. I'm begining to think the same of you.

I never even read the OP so why the need to start a whole 'nother thread about it?

[brokemommy]

Because maybe you might get a hint, that your well on your way to planning your second bk in about five years. You never defend yourself in regards to some of the peoples posts with hard facts about the subject at hand. You ignore them and just keep moving forward, your oblivious to the red flags flying.

I didn't post your handle to be nice, but since you just identified yourself as the foolish one, oh well. I will always read your posts your lack of good judgement and no common sense will always amuse me. It is just sad, that you think buying a house under the terms you are getting is a viable option for you. I and many have posted many comments but you won't answer, I love Fedlers comment, it hits you smack in the face, course you probably missed it.

Again, I hope that some of these harsh comments, that are factual get to there intended targets (not just you). Nobody wants to see another person fail and like I said, maybe they could save someone from something stupid.

By the way, using the words shxt-stirring, your a better person then that to talk like that, be one.

[brokemommy]

Yes brokemommy, I agree that taking a loan/credit under such terms (high interest above the norm) may not be a wise decision, however I go back to the original post and read it, then look at how another member re-worded it, and I like the re-worded version better.

New members (trollers) that come aboard must understand the we are in fragile state, and sometimes posts worded as such may set us off. We know the truth and how we got into this situation, but we don't need anyone throwing it back in our face. There needs to be certain level of respect and understanding for each of our members. It's one thing to offer sound advice and voice your opinions in order to make us think about the way we want to use our fresh start, but caution should be used with the way the post is worded.

How we use/abuse our fresh start is a great discussion and debate. I completely agree that this subject deserves to be in the forum because ALL of our members (newbies included) could benefit from it. In fact, I welcome the discussion and debate. This can truly help all of us stay on track and may enlighten us to be wise about our future financial decisions. However, none of us need to be called nuts, crazy, or being accused of hiding money (as the original poster stated), and/or congratulating us on our next BK is, and was, completely out of line (and counter productive). So, choose your words carefully and keep the respect of the member(s) in mind before you type it.

nice post bass

[brokemommy]

Actually, no he's not. I have money to put down but then there is nothing in the bank for those repairs. I'd rather pay a higher rate for 18months and refi and have money in the bank than just pay down points on an ARM that would jump well above 10.5 in the next 5 years. Let's say I bought down points on an ARM, Emergency comes up, we don't have the closing cost money to refi. Intrest rate jumps up, payments go up. We're screwed! I could have gotten as low as 8%. BUT I'd rather "pay the insurance" of a fixed rate incase something major happen.Use some logic.


I really wonder if you were a realtor. Your real estate advice is terrible. You don't understand that the transactions go back and forth for a while even after the offer is accepted. You don't think owning a home has more bennifits than renting. Ya know, I think I see why you "retired" after 6 years. BTW, retirement is 20 years, not 6 years. You QUIT being a realtor, you didn't retire from it.




Thank you! We plan on putting $10K into this house and getting $25K out of it. We're doing major face lifts, putting on a deck and sliding glass doors, and much more. I think had we gone with the first house, yea, that was a mistake. I'm glad it fell through. I don't think we would of had a quick turn around on it. The one we are purchasing now a turn around easy.

FLAWED, as usual, why expand, you won't get it. Your one of the few, if your buying using a ARM, not real smart!!! closing costs with the lenders you do business with $3,000-$5,000.

Who cares if I quit when I moved or retired, that make my advice bad?

You have no business buying a home, very foolish. The outcome or a sane exit strategy on the terms you are getting into are none.

[JeepMom]

Yes, your advice is bad. Your reading comprehension is worse.

I DO NOT HAVE AN ARM mortgage. Closing costs are $1,500. Get a grip lady. You KNOW NOTHING about my specific situation. So, stop with the extremes.

Seriously, I'm done replying to anything you say. SO, please quit making "general" threads about me.