Yup, someone I know is getting bailed out! These people spend and spend and spend.... Forgive me if I'm not really clear on the details. I get this information third-hand. They are the stereotypical spenders - just have to buy everything! They almost lost a house a few years ago, but instead they ended up in a much larger and newer house. Of course they are in danger of losing this house as well. I was just told that this house is in an elderly relative's name. The relative just got a letter from the bank stating that the late payments will be rolled over into the loan. The bank is also refinancing the loan 1% lower which will save them $200 per month.
Wait. I work hard, pay all my bills, and don't have extravagances in my life. Where's MY bailout?
Heard about my first bailout
October 10th, 2008 at 11:41 pm
October 11th, 2008 at 01:31 am 1223688699
October 11th, 2008 at 02:53 am 1223693621
I hope they appreciate our sacrifices.
Bailout or not, I wouldn't want to be in that circumstance. They still face the dangers of eviction and foreclosure. I couldn't possibly sleep well knowing that, so I'm glad I still have peace of mind.
October 11th, 2008 at 12:20 pm 1223727614
Well I know what *I* would do with that kind of money a month. I'm sure they'll do the right thing - right?? /sarcasm
October 11th, 2008 at 02:03 pm 1223733786
October 11th, 2008 at 04:41 pm 1223743301
These are the kind of people who buy love. They shower those around them with lavish gifts - hundreds and hundreds of dollars worth. This is how they raised their children. Now one is married and has a child about to turn 1. This younger couple is an odd mix of extravagance and common sense.
October 11th, 2008 at 09:13 pm 1223759612
October 11th, 2008 at 09:26 pm 1223760409
October 22nd, 2008 at 01:42 am 1224639755
i help with the books for their business, and they keep getting their houes loan 'extended' (as in, refinancing and applying for more money) to renovate their house. then they spend their earnings from the business on other stuff (all the perks you mentioned the other couple spent money on, like holidays, clothes, things they don't need, gambling, dinners out) and then can't pay the bills for the business, so then transfer money from the loan to pay the business bills, and oh! have to apply for more money to renovate...!
the odd thing is, they don't understand a thing about their loan. they don't even understand how to read a credit card statement. they don't understand that the way things are going, if they sell their house and move to the country (which is what they want to do) the sale of the house may only just cover their debt at this stage. but they're not concerned... they just spend more money!
gar! doesn't it make you just want to SHAKE some people???
November 16th, 2008 at 08:51 pm 1226868709