McCain the elistist NOT Obama

iVillage Member
Registered: 08-20-2008
McCain the elistist NOT Obama
238
Thu, 08-21-2008 - 11:13pm

Obama raps McCain for ignorance of his own houses


WASHINGTON - John McCain may have created his own housing crisis.


Hours after a report that the Republican presidential nominee-in-waiting didn't know how many homes he and his multimillionaire wife own, Democratic rival Barack Obama launched a national TV ad and a series of campaign stops aimed at portraying McCain as wealthy and out of touch.


With the economy the top issue in the race, Obama sought to turn McCain's gaffe into one of those symbolic moments that stick in voters' minds


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iVillage Member
Registered: 08-20-2008
Mon, 08-25-2008 - 9:12pm
You're probably right about his grandparents. Mine were poor, can I be president. LoL
iVillage Member
Registered: 05-14-2008
Mon, 08-25-2008 - 9:15pm

>>We got our home at 5.25% so that must mean our credit is better then yours?? Yes, it's fixed!<<

You don't understand how mortgage loans work. They vary from day to day and region to region. Not to mention you two equal buyers will get two different rates depending on whether the property use is owner-occupied or residence rented to others. In my examples all three were investment properties for which I paid an additional .5% of what I'd have paid if it were owner occupied. The 5.375% rate was just very good timing as that is an exceptional rate for a non-owner-occupied.

>>So no one in the military should own a home???<<
Not unless they're prepared to rent it out. Although being a long distance landlord is normally difficult but some manage to make it work. I wouldn't feel comfortable about it as I like to be able to see my properties once in awhile. Buying a home that you'll have to knowing leave in three years or less (isn't that the typical military tour time in CONUS?) is very financially risky as you very well may not even be able to recoup the loan/selling costs.

>>Please!! That is not only the case for everyone! It's real easy to generalize though.<<

I'll say please too! Tell me when it would make sense for someone who qualifies for a prime loan when the rates between fixed and adjustable are typically less than .5% to chose anything other than a fixed rate in the first place?

iVillage Member
Registered: 05-14-2008
Mon, 08-25-2008 - 9:28pm

Graduating from high school these days doesn't mean one is particularly literate. That doesn't mean the military is opening its doors to high school drop-outs.

As far as your other comment goes---you're agreeing that your husband is an elitist?

Because I don't find the typical military officer to be an elitist but you likely know more of them than I do. Maybe your idea as to what an elitist is just differs from mine.

iVillage Member
Registered: 05-14-2008
Mon, 08-25-2008 - 9:32pm

Is it the case for every single prime loan borrow who ever walked the earth?

I never said that. I believe I said "typically" and if not, then I'll correct it to typically.

Less than 1/4 of all prime mortgage loans were "adjustable rate mortgages".

Those with prime credit generally got that way by making smart financial choices and not overtly risky ones!

iVillage Member
Registered: 08-20-2008
Mon, 08-25-2008 - 9:44pm

It was called sarcasm. I know how mortgage loans work THVM! Believe it or not others on this board have a brain.


iVillage Member
Registered: 09-08-2006
Mon, 08-25-2008 - 9:50pm

<>


That is completely false.

 

iVillage Member
Registered: 08-25-2008
Mon, 08-25-2008 - 9:50pm

of course you can katie... we all know that any boy or girl in the US can grow up to be President...


want to buy a bridge?

iVillage Member
Registered: 08-20-2008
Mon, 08-25-2008 - 9:54pm

Graduating from high school these days doesn't mean one is particularly literate. That doesn't mean the military is opening its doors to high school drop-outs.


You're telling me my husband, someone who has been in the military for almost 19 years , is less knowledgeable then you? My husband (and I just asked him again)

iVillage Member
Registered: 02-27-2008
Mon, 08-25-2008 - 9:56pm

>>So one person can cheat with integrity

iVillage Member
Registered: 08-08-2006
Mon, 08-25-2008 - 9:56pm

The mortgage mess is just free market unregulated capitalism at it worst. Greed, ignorance, and bad financial decisions on both the mortgagee and mortgager contributed to the meltdown,

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