Your Loan Denied: Main Street Fallout of Wall Street Crisis

Yahoo! Finance User - Monday September 15, 2008 03:15PM EDT Guys, don't let economy distract you. We need to focus and win wars in Iraq and Afghanistan.----------- These are unwinable wars...didn't you hear what the Top General said???

Why don't we stop spending $10 billion a month on the pursuit of war and what else ? in Iraq and Afghanistan. They no longer need to attack us they can see us suffer in the pocket where it hurts most without even picking up a gun and the funny thing is we did it to ourselves. Allah's Jihad it seems isn't without irony we are the purveyors of our own downfall.................

Jim - It's short term thinking like yours that has us in this position in the first place. So the takeover has done two things: provided perceived confidence by the government in US real estate and provided liquidity so there is assumably less risk for local banks as now there will be a buyer for newly originated loans. Thus the drop in interest rates. Now, what happens when the market doesn't improve in the next 12 to 24 months? The government just stepped in and took over billions in debt that is worth maybe 60%. Would you do that deal? Me neither. So what makes us think that our government doing it will suddenly make sense? It won't. People live short term. Listen to the experts. They use terms like "short term" and "band aid" and "temporary" but all people want to hear is 5.5% 30 years. So who will be funding the delta? That's right. You and me. The good 'ol US taxpayer. Folks, take it for what it's worth. Remember this is only a Yahoo message board. But it's ugly out there. And it will get much, much uglier.

Yeah, we just gave 1 billion to Georgia and delivered 34 tonns of toilet paper on the flagman of the 6th fleet ship. What a waste of my taxes.

The reality is that when the Federal Reserve was created back in 1913 they all knew the end result.. they were not stupid or dumb or ignorant.. Interest on debt can never be paid back.. this is why usury was always condemned... if you go back and read the writings of that time period the end result was going to be a one world govt.. as the masses of people were goaded into giving up their freedoms for security... We are close to that now and this process will continue unabated.

The whole point is not to go into DEBT at this time...no reason for it...economy is flat.......people need to change their perceptions about debt...now is the time!

It is interesting that we have not heard a word about credit card payment default. Most people will do what they can to keep their house, including not paying their credit cards. So you know that as forclosures increase, credit card default rates will also rise. With the market meltdown we are witnessing, I think that the companies that are involved in that market are not mentioning this for fear of what will happen to their shares if they do. Watch for this to be the next major meltdown.

What hogwash. Trying to get main street to sympathize for the Wall St fatcats that screwed up. Sorry, but I've got good credit and have plenty to put down. I have no problem getting a loan. In fact, I get one annoying call after another from people wanting to loan me money. The only people who are having problems getting a loan are the ones who have no business getting a loan.

Mortgages are still readily available and heading towards record low rates. I am a mortgage broker, and can't believe this woman was allowed to write this article. Complete misinformation. Sure you can't get a loan for $750,000 on a home worth $300,000 when you make only $36,000 a year. Is that really a bad thing? Review the last 18 months of financial goings on if you do not know the answer.

FREEEEEEBIRD!!!!!!! While all you fools are still in this stupid adolescent Lord of the Flies game of worshipping the dead stinking bloated pig carcass of financial largesse, I have finally completed all my liquidations to CASH!!!! Yes, I had to sacrifice 47k to penalties and mandatory withholding but I still have 387K to put in my mattress, while all you other stupid fools get to watch yours get sucked down into the "Black Hole of Manhattan". Living simply that cash will make for me to survive the next 10 years at least, while the rest of you starve to death. Anybody that is still in this ridiculous game of borrowing from Peter to pay Paul is just STOOOOOOOPID. My cash is in hand, and after this crash has run it's course, which can not happen until home prices stop plummetting, I'll be buying up the discards. HAHAHAHAHA "Worst crisis since the Great Depression", and "100 year financial storm" are just codespeak for "it's all in the toilet and the NEXT GREAT DEPRESSION IS HERE!!!" There can be no economy where no jobs!!! It doesn't matter how many fiat dollars the FRB lends to Wallstreet to keep the hollow stinking Greedy Pig corpse to still appear as Fat. It's hollow. "And that's the way it is", to quote a sage of yesteryear totally unknown to all the 25-40 aged generation X-ers that now run Wallstreet and have looted your money to themselves . CASH IS KING, and you are just a buffoon if you still believe that the integrity that once was years ago, still exists. Wall Street is nothing but a den of thieves. And I rather have 75% of what I once had than 100% of what has vanishing

More Tech Ticker drama. Useless drama drivel from a media outlet who is the Peyton Place of the Wall Street.

Flipping homes is (was) a cavalier and trendy term endeared in the 2001-2002 era when realestate prices were soaring and underwriting/ loan programs were soaring right in unison. Now the greed that saturated through mortgage lenders and financial institutions has come home with a vengance. Let's hope it isn't a financial black hole. Flippers may be flipping bergers. Gym

balls

"Status"- buying something you do not need with money you do not have to impress people you don't even like. An Americans word or signature is crap. I remember very clearly when a man's word was bond. In today's time it is always someone else's fault, but never the borrower....An apple does not fall far from the tree....You guys sure have learned well from your parents! Shame on all of you!

its the end times....greed.....greed....greed....your best bet is get right with god and be ready for the rapture...then this is not important....its about time for the one world government and one world money system.....oh yes, the anti-christ will have you take the mark of the beast to be able to buy and sell....and be doomed.....however, if one is right with god you will be saved from all this.......

This mess wouldn't have happened if a few years ago the banks weren't allowed into the brokerage business, the brokerages weren't allowed into the banking business and the insurance companies hadn't been allowed into banking and broker business. Why isn't anyone on tv talking about this? Because too much of the advertising money comes from these 3 businesses. I hope I see this on tv in the morning.

Guys, this is just a beginning of the payoffs ..... we have been borrowing and purchasing in credit for more than decades... Borrowing then spending, rather than saving then spending. Time to think about our life style.

We should have a hierarchy of Finance in this country, but on a personal level it is hard to argue with TurdDonkey, Funny-Money-Hunny, and space monkey. TO: Yahoo! Finance User - Monday September 15, 2008 03:49PM EDT......Being FREE as a BIRD is a wonderful thing.

She really does not know what she is talking about. If you have a fico under 600, yer not getting a lone, No More arms no more stated income, Real loans are out there at a great rate. B.S. loans are gone, Sorry. Rates are 15yr fixed 5.1/8% today 30yr Fixed 5.5% Today. With a good fico and proven income. If you don't have to borrow right now, Don't, Hang on for the ride of your life, Make sure you have a camera to take pictures, Because no one will believe you in years to come. Better fence the Golden Gate, There's probably going to be a line.

You can expect POVERTY to trickle up!!!!