Dawn Aguiar

Dawn Aguiar, House Debtor/Deadbeat
Ms. Aguiar should not be seeking a write-down in her mortgage principal. Houses might be selling for $450-500K in her neighborhood, but at the bottom, $300K might be the price. And if this economy unfolds into a full-blown meltdown, they won't be able to give these houses away.


Dawn, this video is for you:
THE HOUSING BUBBLE EXPLAINED ** SPECIAL SHEEP VIDEO!

2008-11-25: Homeowners say no help from lenders
Customers of Countrywide, Wachovia and other lenders describe the firms as uncooperative, ineffective and rude. Borrowers say they must navigate a maze of phone banks. They say lenders won't offer good deals."They're supposed to be getting people into fixed-rate loans they can afford, reducing their principal," Aguiar said. "That's not what I'm getting from Countrywide."

"Countrywide says it wants to help people restructure? That's baloney," said Dawn Aguiar, who bought her Fremont home for $587,000 in 2005. "They have not been helpful at all." She financed the purchase with $586,000 in Countrywide loans.

Homes in her neighborhood sell for $450,000 to $500,000. Her house is "under water" — worth less than the loan.

Aguiar said she often hears Countrywide and other lenders are aggressive in finding ways to redo loans.

"They're supposed to be getting people into fixed-rate loans they can afford, reducing their principal," Aguiar said. "That's not what I'm getting from Countrywide."
Her adjustable rate loan balance increases monthly. She's behind in her payments.

"One lady I spoke to was rude, she had a real attitude," Aguiar said. "She talked down to me like I was a deadbeat."
===============
Ok, lets check out her house...

4343 Delaware Dr Fremont CA 94538
3 beds, 2.0 baths, 1,104 sq ft
Sale History
12/16/2005: $587,000
08/26/1998: $234,000

$587K for 1100 sq ft!!!
$533/sqft!!!

These are the idiots we're wasting tax dollars on. Lets do the math:
- assume 20% down
- $470K mortgage loan

Historical affordability guidelines are 3x gross earnings for loan amount. Lets use 3.5x...
$470K/3.5 = $134K

The Aguiar household must earn $134K, right?
(at 10% down, household income of $150K!, 0% down, $168K!)

Bay Area Whine

Dawn Aguiar, House Debtor/Deadbeat

Roy Risk, House Debtor ('Risk')
Mark Gagliardi, House Debtor
Sue Chai, House Debtor
Rachelle Gonzales, House Debtor
Karen Mims, House Debtor

They should have looked for the good deals before signing up to a crippling mortgage they could not afford. It wasn't too difficult to understand that they were overpaying in the midst of an epic bubble, unless, of course, they actually believed the realtard line that "real estate only goes up", or better yet, "you'll be priced out forever." BWAHAHAHA

What they fail to grasp, which isn't suprising since they overpaid in the first place, is that the "deals" they are seeking will not be deals in 1-3 years. We are still facing a catastrophic economic collapse. These houses will fall another 30-50% from today's prices.

Dawn, this video is for you:
THE HOUSING BUBBLE EXPLAINED ** SPECIAL SHEEP VIDEO!

2008-11-25: Homeowners say no help from lenders

Customers of Countrywide, Wachovia and other lenders describe the firms as uncooperative, ineffective and rude. Borrowers say they must navigate a maze of phone banks. They say lenders won't offer good deals.

"They're supposed to be getting people into fixed-rate loans they can afford, reducing their principal," Aguiar said. "That's not what I'm getting from Countrywide." (Kiss my a**, Dawn)

"One lady I spoke to was rude, she had a real attitude," Aguiar said. "She talked down to me like I was a deadbeat." (You're a deadbeat, Dawn)

Risk and his wife paid $921,000 in 2005 for a home, financing it with a $736,000 World Savings loan. Wachovia later inherited those loans. Their house is now worth $580,000, based on an appraisal in October.

Wachovia's offer? A first mortgage of about $580,000, at a fixed rate of 5.4 percent, with a 30-year loan term. So far, so good. But Wachovia also insisted on a second loan of $175,000 — to cover the difference between the current value of the house and the loan balance of around $755,000.

"What's going on here?" Risk said. "Are they going to help people or are they not?" (Kiss my a**, Roy)

Mark Gagliardi has sought for months to rework his loan with Countrywide on his Oakley home, but to no avail. Gagliardi and his wife bought the house in 2006 for $768,500 and obtained two Countrywide loans totaling $691,000. Homes nearby now sell for $410,000 to $450,000.

"There is no way to refinance because there is no value left in the house," Gagliardi said. "We are hanging on by the skin of our teeth. We admit our part in this. But Congress did its job. The president did his job. Now the banks are dragging their feet."

Gagliardi wants a 30-year fixed-rate loan based on his home's current value. He has gotten nowhere with Countrywide, despite placing many calls to the firm. (Kiss my a**, Mark)

Sue Chai Spaulding wants Bank of America to restructure a $250,000 equity line of credit on her Berkeley home. She got the loan to help buy a San Francisco house.

"They don't want to help you," Spaulding said. "But they shouldn't take this so lightly. These are people's lives. They have been rude to me." She has retained a lawyer. (Kiss my a**, Sue)

Oakley resident Rachelle Gonzales started a loan workout process in May with American Home Mortgage. In September, the lender rejected the deal.

"It's so frustrating," Gonzales said. "They say they'll help. Then they say no. They have called me names. They have called me a slime. This has been awful. Just awful." Her loan is now delinquent. (Rachelle, you're slime; kiss my a**)

Karen Mims sought for more than a year to convince her lender, Aurora Loan Services, to modify the $509,000 loan on her Oakland home. The payments are too high. "I have desperately tried to work things out," Mims said.

Mims was told she would be helped. But Aurora rejected a new loan although Mims was on a payment plan. On Nov. 12, Aurora foreclosed on the loan. She remains in her house of 11 years.

"This is my home," Mims said. (Karen, it's not your house, anymore; kiss my a**)

"I'm ready to let (Wachovia) have the house," Risk said. "See if they can get $580,000 for it."

He says it's frustrating to see those he believes created the crisis receive help while he and his wife are ignored by lenders.

"They better be careful because those of us at the back of the line just might create the new foreclosure crisis," Risk said
======================

Roy, you and everybody else that participated in this bubble have destroyed the country through your lack of responsibility and self-entitlement attitudes. The meltdown is just getting warmed up. I was out of the stock market a year ago, and now I'm bracing for the next few steps in the process... currency devalution and raging inflation. Got gold?

Walmart, Part 2

Walmart (Part 1)

Shopping, zombie savages, indeed.

2008-11-28: Wal-Mart worker dies in Black Friday stampede
Bargain-hungry shoppers stepped on a fallen Wal-Mart worker, who died Friday morning, after the crowd knocked down the store's front doors -- and the worker -- during the "utter chaos" of a Black Friday shopping melee, Nassau County police said."

A throng of shoppers . . . physically broke down the doors" at around 5 a.m. Friday and knocked the 34-year-old part-time worker to the ground as the crowd pushed its way into the store at the Green Acres Mall, Nassau police said.

"They kept shopping. It's not right. They're savages,"

Richard Gaylord, Part II

Dick Gaylord, REMAX Realtor / 2008 NAR President
(Part I)
thanks ArtLatin

Here's a little going away speech from Dick Gaylord. It's about fishing.... errrrr... real estate... errrrr... fishing... Well, it's about something.

Exactly why is the NAR going to fight the reduction in the FHA loan limit? People CANNOT afford those prices. The prices MUST, and will, come down.

Dick, real estate is going to be dead for a long, long time.

And he says we need a third economic stimulus bill to help the economy. Here is what I think we need:

- a return to traditional (ie non-fraudulent) lending standards

- improvement in our nationwide production capacity with jobs creation

- reduction in dependency on foreign consumer-goods
- elimination of the self-entitlement attitude
- stop the wallstreet criminals
- return to the gold standard?

- elimination of the fed?
I'm sure this isn't all it'll take, but it's a start.

2008-11-07: Challenging Market Focus Of Speech
You can’t catch any fish if you don’t go fishing. Sometimes you just catch little fish, sometimes you don’t catch any fish, but sometimes you catch a big fish. You can’t do that if you’re not fishing.”

Gaylord talked about the lobbying power of the 1.3 million-member NAR, pointing out that the group was instrumental in getting a housing component into the economic incentive package. One of the largest changes was increasing the limit the FHA would loan to $729,000, up from less than $500,000. That limit is set to go back down to $625,000 next year, and the NAR is fighting to avoid that drop, Gaylord said.

“We have to remember, and remind our leaders, that real estate is what is going to bring this economy back. We need a third economic stimulus bill to get money to lenders. And we have to work to make that happen.”

Credit Card Bond Sale

Credit Card Bond Sale

What's next?

- Severely restricted card limits

- Credit cut-off

- Less cards

Get used to it, "entitlement generation".





2008-11-05: Credit Card Bond Sales at Zero, First Time Since 1993
Nov. 5 (Bloomberg) -- Credit card companies were shut out of the market for bonds backed by customer payments in October for the first time in more than 15 years, as investors shunned the debt amid the global credit freeze.

A weakening job market and a looming recession are making it harder for consumers to make monthly payments, eroding confidence among investors about the safety of credit-card-backed bonds. It's the first month since April 1993 that there have been no sales, according to Wachovia Corp. data. Issuers sold $17.1 billion of the debt in October 2007, the data show.

U.S. Debt

I.O.U.S.A.: The 30 Minute Version

Video describing the $53 Trillion U.S. debt. (32:35)

Hmmmm... you mean we can't consume more than we produce, indefinitely??


Desire for higher Corporate profits and desire by workers for higher wages drove our production capacity to other countries. We need to suck it up, take less pay, live simpler lives, and bring jobs and production back the U.S.A.

How are we going to get out of this mess?

How about: (based on '08 budget at 8:45 in video)

• 10% Reduction in Social Security ($61B)
• 50% Reduction in Medicaire/Medicaid ($267B)
• 10% Reduction in Military (bring troops home) ($61B)
• 10% Reduction in "Everything Else" ($93B)

That's $482 Billion. And, of course, we need to stop consuming so much and start exporting more. I didn't say it would be easy, but it's a start.

Show Your Patriotism

Vote the Banker Bailout Supporters Out of Office!


Here are a few to get you started:

- Barney Frank, House Rep Mass (D) (Part 1, 2)

- Anna Eshoo, House Rep CA (D), 14th District (blog)

- Laura Richardon, House Rep CA (D), 37th District (Part 1, 2)

Final Vote Tally - Vote #1, Vote #2

Office of Clerk: US House of Representatives
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