I think you missed the point entirely. The author isn't a "deadbeat". After honestly trying to work with the banks in order to keep the home, it became impossible through no fault of their own. Don't make it sound like they've deliberately lost their home just so they could live off you. Stuff happens and one day it'll happen to you. I'm sure you will feel quite affronted when someone calls you a "stupid deadbeat".
As an Apple Call-Center Advisor, I receive more calls regarding these "discounted" Apple Care Plans than you could shake a stick at... and I hate it. The truth is, more often than not, people will sell you the same number a hundred times, and there's not a damn thing you can do about it through Apple.... HOWEVER, if you ARE planning on buying a code, or have bought one, and you feel that you are being/have been defrauded, you should contact your local Federal-level authorities immediately. More often than not, in the US, this falls under the level of FBI. Have ready all information you can gather on your own, and report it as soon as you can.
You may not get the Apple Care Plan, but you WILL be able to get your problem fixed, to a degree.
Just got one of these in the mail. Thought exactly same as author. Remember the post office uses credit card info to verify change of address to forward mail. So this could lead to id theft if intercepted. Shady tactic for a rip off program.
Those "unlimited data" smartphone plans aren't that great anyway. There's usually a data cap in the small print, meaning they'll downgrade you to a slower network if you go over some arbitrary threshold.
It's best to find out how much data you use, then buy the cheapest plan to satisfy that number.
This is a sad story, and I do feel for the people caught in this position. However something just feels wrong to me about walking away from a mortgage that you actually can afford to pay. The concept of "a deal is a deal" should come into play somewhere. The mortgage company made the deal in good faith, and I believe Maggie and her family took out the mortgage in good faith as well. Then things went dramatically downhill - but while Maggie wasn't to blame (except perhaps for not doing enough research before buying), the mortgage company wasn't to blame either. If instead of "mortgage company" you were talking about money borrowed from a friend, family member, or just a stranger - how would everyone feel about someone just walking away from a debt? How would you feel if you were the person that loaned the money in good faith to someone who decided, for very good reaons, to just walk away? For that matter - what if the reverse had happened. If instead of turning into a money pit - the house suddenly became worth 5 times its value when she bought it, would anyone think Maggie should give some of that extra to the mortgage company? Of course not, but somehow the mortgage company should be on the hook when things go wrong. It just doesn't feel right.
By the way - unless the debt has been cleared by a bankruptcy, the mortgage company still has the option of going after Maggie for the value of the mortgage.
The Citizens United case last year essentially defined corporations as persons, with the rights we Americans enjoy. Businesses have no problem at all with cutting bait on bad deals. So why can't us ordinary Americans act like corporations and cut bait on bad housing deals?
When each of us signs for a mortgage, the lender states that if we don't make our payments they get the house. Fine. Why continue to pump good money into a losing proposition? Lenders don't want to work with us to address a problem that so many of them created (one which affects ALL homeowners even if they've paid off their mortgage or bought prudently)? Fine.
There's more than enough blame to go around for this mess, from lenders who approved "liars' loans" without checking the figures, to the opportunistic people who filled out those forms, to public policies which encouraged home ownership even if it wasn't the best financial choice for some buyers, to a real estate industry which implied that real estate would always get more expensive.
The corporation is king in America. The bailouts exist for them; the rule-breakers go scot-free. I'm not quite sure what continuing to throw money in a hole (for Maggie, a literal hole) proves to anyone.
I think the most dangerous thing about spending is that we have been programmed to love it. It actually makes me feel good to spend money - when I am doing it, but then afterwards I tend to regret it. It's key to take a deep breath and remember that feeling of buyer's remorse. The next time you have it let it sink in so that when you are feeling that shopper's high you can just fight back. In the end you'll be a lot happier.
The smartest investment I've ever made was marrying my beloved wife. She has influenced me in ways that very few people can. She has encouraged and loved me in ways that have given me more confidence in who I am. As a result, I have been pursuing my own dreams (as opposed to those who have prescribed their own dreams for me) for perhaps the first time in my life. And that has been life-changing, to say the least.
Thanks everyone for your comments. Sad Sack, please note that we too sunk a chunk of money into this house but we didn't know when we purchased this house that we had caverns under us and would be able to build a new septic nor build a new house on the space due to the land itself. Nor did we expect the value to fall so drastically that we wouldn't have the cash to handle the issue. I don' t have a spare 60K lying around for the new septic which more than likely would not pass inspection at this point given the state of the ground underneath. So is the solution to camp in it for the next 15 years and tell the kids to pee in the yard?
If the banks we bailed out do not want to work with homeowners who were willing to pay then we arrive at this point---walking away. We aren't walking away because we couldn't afford the mortgage as much as we are walking away because the house in its present storm condition was unlivable and the bank refused assistance in trying to fix it. My guess is someone will tear it down and rebuild at the top of the acre instead.
The best career advice I've been given is to never be afraid to ask for help. Speak up if you don't understand something or need someone's help to complete a project.
Many landlords will have their own ratio for rent/income. It's often advised to spend no more than 30-40% of your income--but, if spending a bit more cuts expenses in other areas (transportation for example), it might be worth the additional cost.
Pretty sound advice. I definitely fall into the buy what you really need, not what you think you need camp. Shopping for single events or nights out is always a bad spending idea.
Yup, selling homes to people without the means to pay for it tends to lead to trouble. Now we all pay for the failure of others. Deabeat? Maybe, burden to society? Absolutely. It is the sad sacks such as myself that have worked their entire lives, paid every bill and do not take charity since I plan for issues such as this economy that foot the bill for the stupid, lazy or unfortunates of the world. This system only works if teh sad sacks outnumber the stupid, unfortunately the stupids are winning.
Great advice! Just want to mention that it does sometimes pay to dress really, really well for work (without spending a fortune). I'll never forget the day I was in the elevator with some coworkers, one of whom glanced down, then gasped: "Aren't those $400 shoes?!" I just smiled and never mentioned that I'd gotten them on ebay for just a few dollars. Sweet!
I agree with all this. It's so easy to feel like you did a good deep by throwing the container in a different trash can. Where I live you can only recycle #1 and #2 plastic, cans, and boxes. I recycle any of it I get but I find it's much better to never get it in the first place. Here are the things I do:
1) Buy milk raw from a local farmer. If this scares you know I've done it for years and am just fine but you can heat it up on the stove first if you want to kill the enzymes and vitamins. I bring the farmer an empty 1 gallon pickle jar in exchange for a full one. No milk jugs needed, we just exchange over and over and over.
2) Make any dairy products you need from the raw milk you bought from the farmer. Making cheese, butter, yogurt, etc is not only easy but funner than you'd thing. Not plastic containers or bags needed if you make it at home.
3) Buy bulk! I am part of a buyers club that purchases all dry goods in bulk. If you use it a lot buy it in bulk! Oatmeal, flour, sugar, nuts, dried fruit, oil, grains, beans, they can all be bought cheaper in bulk and they come is 25 and 50 pound paper bags that are cheaper pound for pound than at the supermarket. Really reduces the plastic bags that are needed for every pound and for carrying it to the car to bring it home.
4) Bake it yourself. I bake my own bread. Even the whole wheat breads at the supermarket are pumped with preservatives and many still have high fructose corn syrup but real home made bread is whole wheat flour, water, yeast, oil, sea salt. It tastes delicious and is good for you. And there is no plastic bag required. It really doesn't take as long as it's made out to. Anything that I can make myself I do, tortillas, chips, fries, bagels, etc.
5) Buy produce packages. Find a produce club that sells weekly packages. Especially organic. Every week I get a box full of produce. No bags just one box.
6) Chickens! I keep 22 chickens in my backyard. They eat every last table scrap I have and in exchange make me eggs! YUM!
7) Compost. I take newspaper, leaves, and waste from the chickens and turn it into thick rich black compost I use in my garden.
Thank you for sharing this, Maggie. Your story is a refreshing balance to some of the harsh postings here about people who get caught up in a difficult situation. I'm glad things seem to be working out for you, and I wish you the best of luck as you move forward.
i like wisebread on facebook
"can you imagine doing (fill in the blank) 10 years from now? if yes, go with it."
damnit! I was so interested in this until i read "if you live in the middle of Montana it wont happen very often!" Guess where this guy lives? :(
I think you missed the point entirely. The author isn't a "deadbeat". After honestly trying to work with the banks in order to keep the home, it became impossible through no fault of their own. Don't make it sound like they've deliberately lost their home just so they could live off you. Stuff happens and one day it'll happen to you. I'm sure you will feel quite affronted when someone calls you a "stupid deadbeat".
As an Apple Call-Center Advisor, I receive more calls regarding these "discounted" Apple Care Plans than you could shake a stick at... and I hate it. The truth is, more often than not, people will sell you the same number a hundred times, and there's not a damn thing you can do about it through Apple.... HOWEVER, if you ARE planning on buying a code, or have bought one, and you feel that you are being/have been defrauded, you should contact your local Federal-level authorities immediately. More often than not, in the US, this falls under the level of FBI. Have ready all information you can gather on your own, and report it as soon as you can.
You may not get the Apple Care Plan, but you WILL be able to get your problem fixed, to a degree.
Be kind to others
Just got one of these in the mail. Thought exactly same as author. Remember the post office uses credit card info to verify change of address to forward mail. So this could lead to id theft if intercepted. Shady tactic for a rip off program.
I bought a complete train set for child #1. BEST EVER b/c it kept all 4 kids occupied for the next 10 yrs while I worked from my kitchen desk!
Those "unlimited data" smartphone plans aren't that great anyway. There's usually a data cap in the small print, meaning they'll downgrade you to a slower network if you go over some arbitrary threshold.
It's best to find out how much data you use, then buy the cheapest plan to satisfy that number.
This is a sad story, and I do feel for the people caught in this position. However something just feels wrong to me about walking away from a mortgage that you actually can afford to pay. The concept of "a deal is a deal" should come into play somewhere. The mortgage company made the deal in good faith, and I believe Maggie and her family took out the mortgage in good faith as well. Then things went dramatically downhill - but while Maggie wasn't to blame (except perhaps for not doing enough research before buying), the mortgage company wasn't to blame either. If instead of "mortgage company" you were talking about money borrowed from a friend, family member, or just a stranger - how would everyone feel about someone just walking away from a debt? How would you feel if you were the person that loaned the money in good faith to someone who decided, for very good reaons, to just walk away? For that matter - what if the reverse had happened. If instead of turning into a money pit - the house suddenly became worth 5 times its value when she bought it, would anyone think Maggie should give some of that extra to the mortgage company? Of course not, but somehow the mortgage company should be on the hook when things go wrong. It just doesn't feel right.
By the way - unless the debt has been cleared by a bankruptcy, the mortgage company still has the option of going after Maggie for the value of the mortgage.
The Citizens United case last year essentially defined corporations as persons, with the rights we Americans enjoy. Businesses have no problem at all with cutting bait on bad deals. So why can't us ordinary Americans act like corporations and cut bait on bad housing deals?
When each of us signs for a mortgage, the lender states that if we don't make our payments they get the house. Fine. Why continue to pump good money into a losing proposition? Lenders don't want to work with us to address a problem that so many of them created (one which affects ALL homeowners even if they've paid off their mortgage or bought prudently)? Fine.
There's more than enough blame to go around for this mess, from lenders who approved "liars' loans" without checking the figures, to the opportunistic people who filled out those forms, to public policies which encouraged home ownership even if it wasn't the best financial choice for some buyers, to a real estate industry which implied that real estate would always get more expensive.
The corporation is king in America. The bailouts exist for them; the rule-breakers go scot-free. I'm not quite sure what continuing to throw money in a hole (for Maggie, a literal hole) proves to anyone.
I think the most dangerous thing about spending is that we have been programmed to love it. It actually makes me feel good to spend money - when I am doing it, but then afterwards I tend to regret it. It's key to take a deep breath and remember that feeling of buyer's remorse. The next time you have it let it sink in so that when you are feeling that shopper's high you can just fight back. In the end you'll be a lot happier.
Thank you for sharing your story. Same as many I'm sure. I am glad you're in a happier place.
Check out the free Prime shipping for students on Amazon. Saved me a bunch, and I can also use it for myself.
The smartest investment I've ever made was marrying my beloved wife. She has influenced me in ways that very few people can. She has encouraged and loved me in ways that have given me more confidence in who I am. As a result, I have been pursuing my own dreams (as opposed to those who have prescribed their own dreams for me) for perhaps the first time in my life. And that has been life-changing, to say the least.
Thanks everyone for your comments. Sad Sack, please note that we too sunk a chunk of money into this house but we didn't know when we purchased this house that we had caverns under us and would be able to build a new septic nor build a new house on the space due to the land itself. Nor did we expect the value to fall so drastically that we wouldn't have the cash to handle the issue. I don' t have a spare 60K lying around for the new septic which more than likely would not pass inspection at this point given the state of the ground underneath. So is the solution to camp in it for the next 15 years and tell the kids to pee in the yard?
If the banks we bailed out do not want to work with homeowners who were willing to pay then we arrive at this point---walking away. We aren't walking away because we couldn't afford the mortgage as much as we are walking away because the house in its present storm condition was unlivable and the bank refused assistance in trying to fix it. My guess is someone will tear it down and rebuild at the top of the acre instead.
I follow you on Facebook and also posted my advice on your thread there (Janet Janet).
I tweted my advice: https://twitter.com/#!/janettwokay/status/112282418475573249
The best career advice I've been given is to never be afraid to ask for help. Speak up if you don't understand something or need someone's help to complete a project.
Many landlords will have their own ratio for rent/income. It's often advised to spend no more than 30-40% of your income--but, if spending a bit more cuts expenses in other areas (transportation for example), it might be worth the additional cost.
Pretty sound advice. I definitely fall into the buy what you really need, not what you think you need camp. Shopping for single events or nights out is always a bad spending idea.
Yup, selling homes to people without the means to pay for it tends to lead to trouble. Now we all pay for the failure of others. Deabeat? Maybe, burden to society? Absolutely. It is the sad sacks such as myself that have worked their entire lives, paid every bill and do not take charity since I plan for issues such as this economy that foot the bill for the stupid, lazy or unfortunates of the world. This system only works if teh sad sacks outnumber the stupid, unfortunately the stupids are winning.
Great advice! Just want to mention that it does sometimes pay to dress really, really well for work (without spending a fortune). I'll never forget the day I was in the elevator with some coworkers, one of whom glanced down, then gasped: "Aren't those $400 shoes?!" I just smiled and never mentioned that I'd gotten them on ebay for just a few dollars. Sweet!
I agree with all this. It's so easy to feel like you did a good deep by throwing the container in a different trash can. Where I live you can only recycle #1 and #2 plastic, cans, and boxes. I recycle any of it I get but I find it's much better to never get it in the first place. Here are the things I do:
1) Buy milk raw from a local farmer. If this scares you know I've done it for years and am just fine but you can heat it up on the stove first if you want to kill the enzymes and vitamins. I bring the farmer an empty 1 gallon pickle jar in exchange for a full one. No milk jugs needed, we just exchange over and over and over.
2) Make any dairy products you need from the raw milk you bought from the farmer. Making cheese, butter, yogurt, etc is not only easy but funner than you'd thing. Not plastic containers or bags needed if you make it at home.
3) Buy bulk! I am part of a buyers club that purchases all dry goods in bulk. If you use it a lot buy it in bulk! Oatmeal, flour, sugar, nuts, dried fruit, oil, grains, beans, they can all be bought cheaper in bulk and they come is 25 and 50 pound paper bags that are cheaper pound for pound than at the supermarket. Really reduces the plastic bags that are needed for every pound and for carrying it to the car to bring it home.
4) Bake it yourself. I bake my own bread. Even the whole wheat breads at the supermarket are pumped with preservatives and many still have high fructose corn syrup but real home made bread is whole wheat flour, water, yeast, oil, sea salt. It tastes delicious and is good for you. And there is no plastic bag required. It really doesn't take as long as it's made out to. Anything that I can make myself I do, tortillas, chips, fries, bagels, etc.
5) Buy produce packages. Find a produce club that sells weekly packages. Especially organic. Every week I get a box full of produce. No bags just one box.
6) Chickens! I keep 22 chickens in my backyard. They eat every last table scrap I have and in exchange make me eggs! YUM!
7) Compost. I take newspaper, leaves, and waste from the chickens and turn it into thick rich black compost I use in my garden.
Get creative. It's not hard!
Thank you for sharing this, Maggie. Your story is a refreshing balance to some of the harsh postings here about people who get caught up in a difficult situation. I'm glad things seem to be working out for you, and I wish you the best of luck as you move forward.