World ends! Women and Minorities Hardest Hit!
This from El Borak
Sphere: Related ContentOr so the paper says:
Hollister - Despite making only $14,000 a year, strawberry picker Alberto Ramirez managed to buy his own slice of the American Dream. But his Hollister home came with a hefty price tag - $720,000.
A year and a half later, Ramirez has defaulted on his loan, and he’s hoping to sell the house before it’s repossessed. And according to many housing advocates and civil rights groups, Ramirez is not alone. As mortgage foreclosures rise, many minorities are suffering...
White people who live in a house that costs the equivalent of 100,000 hours of their work apparently do not “suffer” when economic reality asserts itself - just one more bonus for us, I guess.
But I do wonder, when a bank lends $720,000 to a guy who would have to work a half a century* to pay it off, does it issue the yellow right shirt then or does the borrower have to wait a few months until actual default?
* assuming he paid no interest at all. And never ate.
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April 3rd, 2008 at 9:27 am
This is such bullshit. I’m in the process of buying a house right now with my VA benefit. Between my husband and I we both pull military retirement and disability. I am also going back to work. Yet, we are having to PROVE our worthiness to purchase a $265,000 house. How the FUCK did this strawberry picker QUALIFY for $720,000? The housing bailout or should I call it the RAPE OF THE AMERICAN TAXPAYER PART 2 QUADRILLION, is set to give OUR money to the HISPANIC KKK (la raza) and the communist assholes in ACORN so they can “counsel” morons like this who are in way over their heads and who default on their loans, pack up their pickemup trucks and head back to mexico to avoid PAYING any penalties or suffering any repercussions from their stupidity. And who the hell holds the note on this loan? Their ass needs suck up the default and take it out of their profits. Not a dime of US Taxpayer money should go to any of these assholes.
April 3rd, 2008 at 11:58 am
First of all, if this is true and isn’t just a leftover from April 1, then the loan officer who approved the loan should be taken out and shot. To encourage the others and all that. If the bank wanted to get into the real estate business that badly, there are easier ways than waiting to foreclose on the house. Secondly, I agree with Theresa. No taxpayer money for any of this. They (the banks and the borrowers) got themselves into this, they can get themselves out without our help, thank you.
April 3rd, 2008 at 10:39 pm
well, no, “whitey” to use your word is not hit as hard….cause “whitey” would never have been given that loan to begin with.
Trust me on that one.
April 4th, 2008 at 2:44 pm
Not to cause trouble, but any white person who wants to trade places with a black person or Mexican (in America) is welcome to try. While I too deplore the loop holes and hand-out programs that help no one (in the long run) those who think “They” get all the breaks are usually not eager to join “them” (if they could). Whitey is not that picked upon. Trust me on that one!