6 replies to this topic

[Lysistrata]

I didn't see this in the theater... I saw it last night on a Netflix disc. At first, I thought it was just gonna be a Scorsese knockoff of The Wolf of Wall Street... but it took a turn into reality for me. My wife and I lost over $200,000 when this happened, and it would have destroyed other marriages, but we have never been together because of money... so we just accepted the loss, and moved on with our lives. This tells the story about what really happened, and all the reasons why I should not have trusted anyone with so much money. If you have ever wanted to know the answers about the housing market crash of 2008... I highly recommend everyone to watch this film.

[Captain Crozier]

Sorry for your loss.................... indeed, everyone's loss!

Beginning to get wind of round two end of this summer, but then again there are always rumors. 

[Lysistrata]

Sorry for your loss...

No worries. Shit happens. It's only money, and you can always make more of that... at least until some criminal government comes along and tells you you can't make any more. That's when we're really screwed. 

[iSocialism]

I really enjoyed this movie, My sister and brother and law who are both majors in business type degrees. recommended this movie to me. They also told me to watch a YouTube clip before watching this movie that would also sum some of the lingo up. https://www.youtube.com/watch?v=bx_LWm6_6tA

[Lysistrata]

I really enjoyed this movie, My sister and brother and law who are both majors in business type degrees. recommended this movie to me. They also told me to watch a YouTube clip before watching this movie that would also sum some of the lingo up. https://www.youtube.com/watch?v=bx_LWm6_6tA

This is exactly what happened to us. We bought a brand new house in 2006. We watched it as it was built from a concrete foundation. 3 stories... $600,000... 20% down. By 2009 it was worth $200,000, and we were the only house left in the entire community that didn't have a foreclosure notice, or a Realtors sign. It had to be refinanced by 2011, and I knew the value wouldn't be there to secure it. We called Bank of America and said, "We have a problem"... they said "No... you have a problem". That was the last time I ever talked to them.

 

Las Vegas was one of the hardest hit cities. Billions lost, so many people lost their jobs... it was a nightmare.

[iSocialism]

So did you lose your house?

[Lysistrata]

So did you lose your house?

Walked away... we would not have been able to refinance... 5 year balloon payment, and it never would have appraised high enough. We were just throwing money away by keeping it. It all worked out in the end... the market crashed so hard that we now own two houses free and clear. It will be a very long time before I ever trust another mortgage.