• Val
  • Member Since Jan 20th, 2007

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Recent Comments:

Big-ticket Items -- Repair or Replace? {Shopping Articles Blog}

Apr 15th 2012 12:54PM

I have replaced my dishwasher at 10 yrs. with the new Kenmore energy saver, top rated, super quiet model. I hate it. I am handwashing dishes now and dreading replacing other appliances with the short- lived, poor quality, technology wonders of today. Who designs this stuff? All I want is a dishwasher that can aim water so that all dishes come out clean, so I don't have to inspect and rewash each one. Energy-saver? I don't think so, at least not MY energy.

Obama's Refinance Plan Explained {AOL Real Estate}

Oct 29th 2011 3:04AM

If they really wanted to help homeowners they would allow a no fee low interest rate adjustment, 30 yr. fixed rate. Obama didn't require the banks to do modifications; he left it optional. The banks are still laughing I'm sure. He says all the right things, but he never follows through. If he wants this country to survive, the middle class has to afford basic living, and that includes housing. I guess he can pile on the taxes until we can't afford anything and then we can apply for government welfare?

Mortgage Mod Hell: Trapped Between Lenders, Collectors {AOL Real Estate}

Sep 9th 2011 5:11PM

Banks were making a short term interest only fortune on those loans. They would refi the house, people would use that money to make payments, and when that ran out, they would refi again. Good deal for the banks to mow through the equity in the housing boom. Of course, interest they paid to customers on bank accounts was practically zero. Then when the well ran dry, Obama's Making Home Affordable came out, not to protect home-owners, but to keep banks from having to foreclose and lose money. But the banks didn't have to approve that plan, when they could make more money creating their own Mods, which is what I got. They aren't going to give Mods to people who can keep up their payments, so defaulting is the only way to get on their list. I notified them I was going to default before I did and had all the paperwork in. They sat on it for 2 months and ruined my credit. Then they did a trial Mod for 2 months which also goes on the credit report as a default. Four months default. They then roll that money into the new loan so they are out nothing, but the ruined credit causes higher interest rates on cards, if they don't decrease your limit as well. The creditor calls came when my first default payment was still in the grace period. It was a nightmare, and the new Mod is calculated to take my last dime, but I am barely making it. This is a success story compared to all the others I've heard about. I wonder if they really believed I could make these payments because I had to be a genius to cut costs to this extreme. The "deal" I got was getting this underwater loan at current interest rates. They are still making money. Thanks Obama for allowing this to happen.

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