An exerpt from an article on MSNBC today:

[B]"For some homeowners, no amount of government help will head off a foreclosure. That includes many in states with the highest concentrations of mortgage defaults, such as California, Florida, Arizona and Nevada. In those states up to 40 percent of buyers in recent years were buying the homes as investments, according to Wachovia economist Mark Vitner.

 

Amen brotha!!

 

i with you, the rest of us suffer because jackasses can't live within their means.

 

 

Hard to argue this one (although im sure someone will find a way)

 

I've never lived within my means. I grew up living within the means of my dad's income which was about 5-6 times what I make now. That created a sense of entitlement whereby I've never been willing to sacrifice or deprive myself of something I've wanted. I'm getting it all back on track now but that's only through working really damn hard and making some changes.

As we speak I'm waiting for a call back to sign some papers on some debt consolidation (which is obviously in the best interest of everyone, including the lender as I would go on for probably 15 years without paying back any principle and just covering interest).

I've made some definite mistakes but I really don't expect someone to swoop in and pay off my debts. The funny (maybe slightly morbid) thing is, by the time my parents die and pass on everything they have to my brother and me, neither of us will likely need it because we'll be fine on our own so it'll be a substantial supplement that I'll do with as I see fit. Maybe I'll do something nice for some people who deserve it, not people looking for a hand-out because they screwed themselves over.

 

think of the children!!!!!!!!!!!!!!!!

 

Amen! Everyone for themselves.

 

There's hordes of people out there that just wait for the next big scam to make money. They know how to work the system to ensure they're not penniless when the scam goes bust.

 

debt consolidation is a horrible idea. Take your current credit score, then subtract your current credit score, and that's what you'll be left with. nothing. Unless the company you're dealing with is special, you'll just be making payments to them, and when they have enough to cover like 50% of your debt, they will try to negotiate with the creditors. So, for however long that takes, you will be late on payments, fees will be racking up, and creditors will see that you ARE able to pay someone money.. so they will want it, and could sue you.