My Personal Credit Crisis

[Gen]

Re: My Personal Credit Crisis

yes mi know mi juss a add in fi mi 2 cents yuh nuh know yard people and conversation guh

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Yuri_</div><div class="ubbcode-body">That's what <span style="font-style: italic"><span style="font-weight: bold">I</span></span> just said.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gen</div><div class="ubbcode-body">in an up economy he still could not have afforded the house

his salary was prett much 70,000 and the wife's sales/commission job should not have been factored into the equation.

suh what could he have afforded on 70,000 (minus his other mnthly expenses which probably reduced his salary to 60,000 when all was said and done) </div></div> </div></div>

[Gen]

Re: My Personal Credit Crisis

Yuri-am surprised they are still together. I did NOT like the way she spoke to him about the bills that kept piling up, as if HE was talking about them just to annoy her. she and har dutty tude

she need a reality slap inna har face

[kia027]

Re: My Personal Credit Crisis

The excerpt from the today show

[Yuriatin]

Re: My Personal Credit Crisis

I picked up on that too - it didn't sound nice.

Then again, I'm sure that he had his moments too.

But I'm glad it didn't break them up tho - at least they're working thru everything together - neither of them bailed. Then again, maybe they can't afford too - who knows ...



<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gen</div><div class="ubbcode-body">Yuri-am surprised they are still together. I did NOT like the way she spoke to him about the bills that kept piling up, as if HE was talking about them just to annoy her. she and har dutty tude

she need a reality slap inna har face </div></div>

[Yuriatin]

Re: My Personal Credit Crisis

I like the article better.

It really gives the nitty gritty details of what happened, how, why, step by step.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Kia</div><div class="ubbcode-body"> The excerpt from the today show </div></div>

[Yuriatin]

Re: My Personal Credit Crisis

Gen - believe me when I tell you - re the part where he goes on about overdraft protection ... I've never ever had it. It's too dangerous, imho.

If mi muh haddi money - ah juss suh.

Maybe I'm missing something tho - I guess I can see how it's a good thing if you don't abuse it.

[kia027]

Re: My Personal Credit Crisis

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Yuri_</div><div class="ubbcode-body">I like the article better.

It really gives the nitty gritty details of what happened, how, why, step by step.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Kia</div><div class="ubbcode-body"> The excerpt from the today show </div></div> </div></div>

I agree, the interview was to draw attention to the article and book, but I was hoping to hear the line where she spoke to him a way but I guess I missed it

[kia027]

Re: My Personal Credit Crisis

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Yuri_</div><div class="ubbcode-body">Gen - believe me when I tell you - re the part where he goes on about overdraft protection ... I've never ever had it. It's too dangerous, imho.

If mi muh haddi money - ah juss suh.

Maybe I'm missing something tho - I guess I can see how it's a good thing if you don't abuse it.

</div></div>

That part had surprised me as I didnt know the overdraft protection was linked to a credit card.

My mother has this type of thing on her account and inadvertently used it once over a year ago. She ended up with a $100 'cash advance' that she is paying interest on

<span style="font-style: italic">disclaimer: mi neva even know seh mi madda had a balance on her credit card till de odda day and mi clear ar balance fi ar so the 'cash advance interest' will stop</span>

[Pepper]

Re: My Personal Credit Crisis

Normally, he would not have qualified for the loan. 10 years ago he would have had to had a co-signer to get in that house, and that might have stopped him from jumping in.

I was seduced by the real estate market of 5 years ago. But taking vacations that I probably shouldn't is a greater indulgence than upgrading real estate...for me that is.

He fell for a sales pitch, I refinanced during that 'fun' time. I heard more than one of those pitches, and they surely made me want to sign on the dotted line, those guys were sweeeet. Probably, if I lived in a two income house, more than likely, I would have gone for it.

I really can't condem him, because I don't do all the right things financially. Credit cards are bad, and I have them. I am supposed to save what is 10 - 15% off the top of my salary, I don't do that. My mortgage is supposed to be about 1/3 of my salary, it is not.

IMO, unless I am doing all the things they say to do in that money mgmt manual, there but for the grace of God go I.


<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Yuri_</div><div class="ubbcode-body">Morning Pep.

Yes, many of us could easily end up in this or a similar situation. It’ only takes a swift layoff or an unexpected illness.

My point tho – is that he went out and CREATED his situation – he chose to put himself in those shoes even when he<span style="font-weight: bold"> KNEW</span>, he couldn’t afford it.

He didn't want to be honest with himself and own the fact that he couldn't afford what he wanted.

He’s not like you – he <span style="font-weight: bold">chose</span> to take on a tricky mortgage.

I too feel no pity for him.

True, yes - under normal circumstances, he could have sold and walked away debt free. But I think that even in normal economic conditions, he still should not buy that house.

He had perfect credit scores when this started and even then, he was kinda treading water.

[quote=Pepper][quote=Yuri_]There's more than one heart of the debate it seems.

This is classic lesson - <span style="font-style: italic">&quot;yuh nuffi put yuh hat whe yuh cyaah reach&quot;</span>.

He knew - <span style="font-weight: bold">KNEW</span> full well, as he says over and over himself - that buying that house when he couldn't afford it was insanity - bound for failure - but he went ahead and did it anyway.

He sure as heck shouldn't get bailed out - <span style="font-style: italic">or do you think he should</span>?

</div></div>

[Yuriatin]

Re: My Personal Credit Crisis

I don't <span style="font-style: italic">condemn</span> him either - not at all.

I just don't have <span style="text-decoration: underline">any</span> sympathy for him - for many, many reasons, tho perhaps because I know him, I have a bias - but mainly because, he says he knew he couldn't manage it, but yet <span style="font-weight: bold">still</span> decided to take it on.

I don't think credit cards are bad. I think it's our behaviour ... the not being disciplined enuff, etc, etc.

[Gen]

Re: My Personal Credit Crisis

mi nuh have it eedah, mi nuh want nuh more sitten a run up/link mi credit. if mi nuh have money mi nah buy it.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Yuri_</div><div class="ubbcode-body">Gen - believe me when I tell you - re the part where he goes on about overdraft protection ... I've never ever had it. It's too dangerous, imho.

If mi muh haddi money - ah juss suh.

Maybe I'm missing something tho - I guess I can see how it's a good thing if you don't abuse it.

</div></div>

[Gen]

Re: My Personal Credit Crisis

nothing nuh wrong wid tekking vacation, but if you want to go, you need to save up for it, instead a juss tekk off so.

cut costs in other areas where yuh think you cant cut it, you would be surprised.

nothing wrong wid credit cards eedah(yuh need one fi do anyting a merka), if yuh pay dem off a mth time.

sound like yuh need some additional income to catch up (pay off ccards &amp; do likkle savings)

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Pepper</div><div class="ubbcode-body">Normally, he would not have qualified for the loan. 10 years ago he would have had to had a co-signer to get in that house, and that might have stopped him from jumping in.

I was seduced by the real estate market of 5 years ago. But taking vacations that I probably shouldn't is a greater indulgence than upgrading real estate...for me that is.

He fell for a sales pitch, I refinanced during that 'fun' time. I heard more than one of those pitches, and they surely made me want to sign on the dotted line, those guys were sweeeet. Probably, if I lived in a two income house, more than likely, I would have gone for it.

I really can't condem him, because I don't do all the right things financially. Credit cards are bad, and I have them. I am supposed to save what is 10 - 15% off the top of my salary, I don't do that. My mortgage is supposed to be about 1/3 of my salary, it is not.

IMO, unless I am doing all the things they say to do in that money mgmt manual, there but for the grace of God go I.


<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Yuri_</div><div class="ubbcode-body">Morning Pep.

Yes, many of us could easily end up in this or a similar situation. It’ only takes a swift layoff or an unexpected illness.

My point tho – is that he went out and CREATED his situation – he chose to put himself in those shoes even when he<span style="font-weight: bold"> KNEW</span>, he couldn’t afford it.

He didn't want to be honest with himself and own the fact that he couldn't afford what he wanted.

He’s not like you – he <span style="font-weight: bold">chose</span> to take on a tricky mortgage.

I too feel no pity for him.

True, yes - under normal circumstances, he could have sold and walked away debt free. But I think that even in normal economic conditions, he still should not buy that house.

He had perfect credit scores when this started and even then, he was kinda treading water.

[quote=Pepper][quote=Yuri_]There's more than one heart of the debate it seems.

This is classic lesson - <span style="font-style: italic">&quot;yuh nuffi put yuh hat whe yuh cyaah reach&quot;</span>.

He knew - <span style="font-weight: bold">KNEW</span> full well, as he says over and over himself - that buying that house when he couldn't afford it was insanity - bound for failure - but he went ahead and did it anyway.

He sure as heck shouldn't get bailed out - <span style="font-style: italic">or do you think he should</span>?

</div></div>

</div></div>