Comments on: Learn From Watching Two Families Go Through Their Housing Problems on Larry King Live

By: Avatar

Avatar — Sat, 19 Jul 2008 19:45:46 +0000

tanks for the tip! I was going out of my mind trying to figure out what the problem was. Thanks again!

By: magnesium

magnesium — Fri, 18 Jul 2008 13:32:53 +0000

It is awful not to make any effort to pay the mortgage payments and not trying anything else to solve their situation.

By: Avatar

Avatar — Fri, 18 Jul 2008 00:13:30 +0000

Marci,

Don’t worry. There aren’t many people like you willing to produce more and consume less.

Hope the global economy recovers soon. Life’s getting tough with the spiralling inflation.

By: marci

marci — Thu, 17 Jul 2008 16:27:09 +0000

Remember Science Biology lessons on Producers, Consumers, and Decomposers?

I just prefer to be a Producer, not a Consumer As much as possible that is. I know that if the national economy depended on me, we’d be at a standstill! haha!

By: Avatar

Avatar — Thu, 17 Jul 2008 15:50:43 +0000

Marci,

Well, the main problem here is that most youngsters are brainwashed into wanting everything IMMEDIATELY.

With banks aggressively pushing credit cards and all manners of advertisements driven into them whilst young, it’s a wonder that most young ones are still sane.

Sigh, that’s the sad state of our consumerist culture nowadays.

By: marci

marci — Thu, 17 Jul 2008 15:42:20 +0000

Actually, if CNN paid her, then Optimistic might have been on the right track with doing the interview instead of looking for work at that particular moment. And if she didn’t get paid, then she got ‘exposure’ and maybe netted a job from some sympathic soul watching the show. It was worth the shot anyway is probably how she looked at it.

I’m just glad I’m DONE with mortgage payments I had a home equity loan during the remodeling of my house, and it just drove me nuts at night… Once I paid it off, I just was able to sleep so much better And lest you think the remodling was not frugal, it went from 560 sq ft to only 1010 sq ft, and I learned to sheetrock, tile, nail trim boards, put up shelving, and I painted the whole thing myself! Not bad for an older woman

I just wish all you younger people just starting out a lot of good luck and frugalness, and as you are reading moneyning, I’m sure you’re all on the right track!

By: Avatar

Avatar — Thu, 17 Jul 2008 09:16:39 +0000

Interesting post.

I think the problem for Family Hope is they shouldn’t have gotten that house in the first place.

A residential home is a hefty investment, especially if one is financing like 90% of it via loan. It’s might be 20 year commitment to pay USD1-2K which not many people may be able to commit to.

Guess too many treat their residential homes as an asset. I for one, do not.

By: CarFan

CarFan — Thu, 17 Jul 2008 07:32:07 +0000

I can’t believe that some people have no idea of how much their mortgage payments are. We aren’t talking about maintaining a detailed budget here (although it seems like they should do that as well). A lot of people have lived above their means in the last few years spending a luxury high ticket items at the expenses of getting rid of their mortgage quicker, saving for an emergency fund and common sense. It is a hard reality check for many, but at least Family Optimistic will learn from her mistake and turn the situation around no doubt.

By: Sam

Sam — Thu, 17 Jul 2008 04:13:29 +0000

Man I think the first family will never be able to pay their mortgage given their current situation+attitude.

I agree with the retirement fund, it is a MUST. What I do to save for retirement fund is automatically deduct 10% of my monthly earnings to my 401k. You can’t spend what you can’t see as they say.

By: Four Pillars

Four Pillars — Thu, 17 Jul 2008 03:33:03 +0000

I think both these families are idiots. Hopefully they will come around and get their lives fixed up but who knows?

Mike