> LOL! Just found out that a friend is going to lose his job at the end of this week. I LOL because

Arlington VA

wrote:

where? which city?

Another mortgage faggot goes down in flames

Have a buddy who is a police officer who sits in a patrol car 10 hours a day four days a week in a town that has little to no crime. He has been on the job now eight years and pulls in $125K. with overtime he averages $185k a year. This doesn't include the full blown health care for him and the family and a pension to retire on. He has been living the illusion that the economy is just fine till two weeks ago when the town mandated no more overtime or court overtime period. There is actually talks among the police that they will strike over this. He was crying the blues that he wont be able to keep his shore house this weekend at a party we had.

wrote:

Arlington VA

plenty of work for the summer season in Virginia Beach

wrote:

Really sad actually.   He ReFi his home twice over the past 10 years.  Now, he is close to $200K under water.

He also has nothing to show for it either.  He use the first ReFi to pay for a timeshare condo which he has only used once in over 10 years.  Then he used the second ReFi to pay down CC debt and also put a down payment on a new 2006 Ford Explorer(which he is still paying on).  His CC debt is now back to where it was in 2006 and the Ford Explorer is falling apart. 

Sounds more like a guy with a spending problem than an income problem.  Oh, and Ford Exployers are the biggest pieces of shyt in the world.

wrote:

Really sad actually.   He ReFi his home twice over the past 10 years.  Now, he is close to $200K under water.

He also has nothing to show for it either.  He use the first ReFi to pay for a timeshare condo which he has only used once in over 10 years.  Then he used the second ReFi to pay down CC debt and also put a down payment on a new 2006 Ford Explorer(which he is still paying on).  His CC debt is now back to where it was in 2006 and the Ford Explorer is falling apart. 

Time share condo is a sure sign of a pre-rich spendaholic sucker.

The only "friend" (really an acquaintance) I know who had one lost his home to foreclosure in 2000.

wrote:

Really sad actually.   He ReFi his home twice over the past 10 years.  Now, he is close to $200K under water.

He also has nothing to show for it either.  He use the first ReFi to pay for a timeshare condo which he has only used once in over 10 years.  Then he used the second ReFi to pay down CC debt and also put a down payment on a new 2006 Ford Explorer(which he is still paying on).  His CC debt is now back to where it was in 2006 and the Ford Explorer is falling apart. 

People who don't know how to manage their finances piss me off, I don't give a shyt of they're Democrat or Republican.

I'm so frugal with my money, my Dad said that I could save money even if I was on welfare.

wrote:

People who don't know how to manage their finances piss me off, I don't give a shyt of they're Democrat or Republican.

I'm so frugal with my money, my Dad said that I could save money even if I was on welfare.

Same here.  That's kinda why I'm taking pleasure over his misfortune.  I know this is bad, but what else can you do to wake someone up?

wrote:

Same here.  That's kinda why I'm taking pleasure over his misfortune.  I know this is bad, but what else can you do to wake someone up?

Current Fed interest rates are something like 0.2%, so the government can't lower interest any more like they used to in past recessions.

I've wondered for a long time if the past 20 years (save for the dotcom crash) of economic growth have been built on false fundamentals and of people willingly going into debt so they can buy useless junk.  The dismantling of our industrial base to be shipped off to China has provided short term gains at best for conniving middle men who tell us on TV that our economic destruction is for the best of us.

I guess I'm old-fashioned, I see a mortgage as a debt that needs to be paid off.  I'm lucky that I still draw a paycheck in the IT field but knowledge is increasingly becoming a cheap commodity.  I want to be able to sustain myself with a low paying job in order to prepare for the worst.  Once my mortgage is paid off in a few years, the first thing that I'll do is drive up to the bank and give the bank manager the finger.

wrote:

Same here.  That's kinda why I'm taking pleasure over his misfortune.  I know this is bad, but what else can you do to wake someone up?

Many laughed when some of us said 4 years ago we were going to ground to prepare for the worst.

But they showed us because now we are in the Recovery Summer?!

. wrote:

Have a buddy who is a police officer who sits in a patrol car 10 hours a day four days a week in a town that has little to no crime. He has been on the job now eight years and pulls in $125K. with overtime he averages $185k a year. This doesn't include the full blown health care for him and the family and a pension to retire on. He has been living the illusion that the economy is just fine till two weeks ago when the town mandated no more overtime or court overtime period. There is actually talks among the police that they will strike over this. He was crying the blues that he wont be able to keep his shore house this weekend at a party we had.

I am active in a group trying to throw out the mayor and city council here.  Police overtime and salaries (for guys that don't even walk a beat) are insane.  With the current people in office, the police and fire department are untouchable.  Excluding interest payments and the schools, they are 80% of the municipal budget.

I am doing research to see if contracting out police services is an option as a way to get out from under the insolvent public pension / insurance system.

VP_Spiro_T_Cheney wrote:

4 years ago, huh?  Sounds like you knew what the result of the Repubican tax and economic policy was gonna be.

This shyt was gonna happen regardless of who was in charge.

Amerikwa jumped the shark in 1965.  There ain't no turning back.