Bend over Amerika!!

by sinis 42 Replies latest jw friends

  • mrsjones5
    mrsjones5

    We did not lose our house because we borrowed and bought more house than we could afford. My husband was making $50K+ a year and in 2003 he bought a modest four bedroom, 2.5 bathroom, 1900sq foot house for $157,000. We had a 2/1 buydown fixed rate mortgage with our interest rate starting at 4.25 for the first year and capping at 6.25 at the third year and for the life of the mortgage. We faithfully paid our note on time every month. About two years later our mortgage was sold to an outer state company and unbeknownst to us said company didn't transfer over or even acknowledge the disability insurance that was incorparated in our monthy house note. And that's one of the factors that led to us losing our home.

    We get lumped into home mortgage debacle because of the time frame in which we lost our home, people assume that we were irresponsible and it's just not true.

  • Robdar
    Robdar
    Robdar, correct me if I'm wrong (OK you don't neet the invitation I'm sure you'll do it anyway ) but I would say that bankruptcy is intended to get both the debtor and the creditors out of a mess in an organized fashion. It was started because the methods in use at the time (throwing the debtor in prison, arranging duels, homicide etc) didn't work very well for anybody. The power to establish a uniform bankruptcy code is specifically granted to Congress in Article I section 8. Depending on the type (Chap 7, 11 or 13) it arranges and orderly payment to the creditors and provides some relief to the debtor. As such it is not intrinsically good or bad, it is just a tool for use in a particular situation.

    Impressive, JeffT!

    I would say you are pretty much spot on in your assessment. Do you have any training in Bk?

  • Robdar
    Robdar
    I guess it doesn't hurt Bankruptcy lawyers

    Somebody has to clean up the mess. What? We should do it for free?

  • beksbks
    beksbks
    What? We should do it for free?

    Oy! So did I say youse should do it for free?

  • shamus100
    shamus100

    What a stupid thread.

  • beksbks
    beksbks

    Look it's Happy Monkey!

  • JeffT
    JeffT

    Robdar - yes I went through it myself (before I quit drinking which was part of the problem) and as an accountant I've been on both ends of chapter 11's. It is obviously not the best of things, but it is better than complete chaos. I've been around one chap 11 that was forced by the creditors - they realized that if they didn't get the company involved into court they were just going to eat each other. A few of them realized that settling for some percentage was better than spending it on lawyers to pick over the carcass of a dead horse. And I think the lawyers realized they didn't want old horse meat. It helped that the debtor's reputation was less than stellar.

  • HappyGuy
    HappyGuy

    mrsjones,

    About two years later our mortgage was sold to an outer state company and unbeknownst to us said company didn't transfer over or even acknowledge the disability insurance that was incorparated in our monthy house note. And that's one of the factors that led to us losing our home.

    I'm not a lawyer but it seems to me like you have a really good legal case against both of these mortgage companies. I would sue them both together because one is going to say "we sent them the disability insurance" and the other one is going to say "no they didnt".

    I'm not trying to be nosy, but have you talked to a really good contracts lawyer about this situation?

  • mrsjones5
    mrsjones5

    Makes sense HG. I just relayed your advice to my husband and we're gonna look into it.

    Thank you

    Josie

  • freydo
    freydo

    "We must now live and die as a secular society. Thus the atheists have won.........From a Judeo-Christian Culture to a Judeo-Christian-Muslim Culture, we have gone from an agreement on faith to an agreement on non-faith,"

    ".......With Senator Barack Obama the US has entered into a new era of history when an Islamic upbringing is not a detriment to candidacy for the highest office in the US government. This is in stark contrast to the times of Senator John Kennedy, the first Catholic President in the history of the United States of America. There was a big controversy at the time of his nomination. Senator John Kennedy had to profess that his Catholicism would not mean that as President of the United States he would be under the influence of the Pope.

    This is why today we have to admit that there is a paradigm shift in American Society; we have now a Christian-Jewish-Muslim Culture. Moreover, the two US Parties, the Democrats and the Republicans, have adopted the policy of not mentioning the name of Jesus in their campaigns. The name of Jesus was not mentioned during the two Conventions and no one is talking about their faith in Jesus during the campaigns, even though all four candidates for President and Vice-President are Christians.

    The issues that a President has to deal with are not to be affected by any religion in this new age. Thus morality is no longer an issue, only secular values based on socio-economic principles are to be paramount. With the doctrine of "separation of church and state" in place, there is no need to discuss religion in the application of law. Thus a Judeo-Christian-Muslim Culture means a culture without religious values. This means also that people can no longer discuss their religious preferences publicly. Religion should be a private affair. The US is now, therefore, ready to fight for the privacy of its citizens' religious choice but not for the freedom to practice the religion of their choice....."


    http://www.v-a.com/judeo-christian-muslim_culture.html

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