|
04-10-2011, 12:13 PM
|
|
Senior Member
|
|
Join Date: Feb 2010
Posts: 2,010
|
|
Re: goverment shuttin down?
Quote:
Originally Posted by WearyTraveler
I think you missed completely what I was saying. There were tribal wars in the middle east, LONG before religion had any part of their beliefs.
Don't blame religion on their cultural inability to get along. They were fighting amongst themselves long before Islam came around in 610AD.
As for you comment about Clinton, I could care less. He may have made it easier for people to get loans. But the banks are to blame. Remember that people were buying homes that were way out of their price range. Just because the bank says you get a $250,000 home, does not mean you can get one.
Let us do some math.
$2,500 take home pay.
$1,000 rent
$250 car loan
$200 student loan
$100 cell phone
That leaves you about $950 for everything else. Food, entertainment, gas money, truck mods, gym membership, etc...
You went to the bank, they told you they can give you $250,000. You find the house and get it. Your monthly payment turns out to be about $1,500 a month. With the escrow on the loan for your house insurance and taxes, it comes out to about $1,900 a month.
So change rent from $1,000 to $1,900 in our list above. How much do you have left over at the end of the month?
|
You're partially right, but not quite there yet. You forget about the proof of income situation and the fact that most people took out a second loan on their homes that they couldn't possibly pay. In the past is was nothing to go online and print off false proof of income from someone elses financial records. That all changed after 9/11 with idenity theft started to be the topic of the day. For a solid 6 months after those attacks, all we heard was indenity theft and the 9/11 attacks. Then Iraq came into play and we heard nothing about Afganistan.
|