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  • #586
    Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

    You’re going to hell, John. Take note

    Comment

    • #587
      Originally posted by Kepler View Post
      Who says they aren't?
      Read what aparch said then read what I said
      "It's as if the Drumpf Administration is made up of the worst and unfunny parts of the Cleveland Browns, Washington Generals, and the alien Mon-Stars from Space Jam."
      -aparch

      "Scenes in "Empire Strikes Back" that take place on the tundra planet Hoth were shot on the present-day site of Ralph Engelstad Arena."
      -INCH

      Of course I'm a fan of the Vikings. A sick and demented Masochist of a fan, but a fan none the less.
      -ScoobyDoo 12/17/2007

      Comment

      • #588
        Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

        "It's as if the Drumpf Administration is made up of the worst and unfunny parts of the Cleveland Browns, Washington Generals, and the alien Mon-Stars from Space Jam."
        -aparch

        "Scenes in "Empire Strikes Back" that take place on the tundra planet Hoth were shot on the present-day site of Ralph Engelstad Arena."
        -INCH

        Of course I'm a fan of the Vikings. A sick and demented Masochist of a fan, but a fan none the less.
        -ScoobyDoo 12/17/2007

        Comment

        • #589
          Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

          Comment

          • #590
            Originally posted by Deutsche Gopher Fan View Post
            Meanwhile...

            Gas prices are starting to tick upward.


            As I heard a few times, the cure for low oil prices is low oil prices. Seems accurate. So either demand is returning slowly, or additional storage was found.
            “Demolish the bridges behind you… then there is no choice but to build again.”

            Live Radio from 100.3

            Comment

            • #591
              Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

              No article yet, but CNBC just had an interesting news break where they found Wells Fargo (and potentially other banks) are up to their old tactics.

              A gentleman emailed Wells Fargo for more information regarding the forbearance program back in March, but never heard back from them.

              Went to refinance through Freddie Mac a week ago and was told that they can't refinance because the loan is not current. Wells Fargo enrolled him into the forbearance without his permission.
              “Demolish the bridges behind you… then there is no choice but to build again.”

              Live Radio from 100.3

              Comment

              • #592
                Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

                Originally posted by aparch View Post
                No article yet, but CNBC just had an interesting news break where they found Wells Fargo (and potentially other banks) are up to their old tactics.

                A gentleman emailed Wells Fargo for more information regarding the forbearance program back in March, but never heard back from them.

                Went to refinance through Freddie Mac a week ago and was told that they can't refinance because the loan is not current. Wells Fargo enrolled him into the forbearance without his permission.
                I'm not sure that story makes sense.

                First, if he went to Freddie Mac and they told him his Wells Fargo loan wasn't current, that sounds to me like he was in the forbearance program, or he wasn't in it and just wasn't paying his mortgage.

                Second, what's the advantage to Wells Fargo in enrolling someone in a program where a person doesn't have to make their loan payments? Do they get some fed money for that?
                That community is already in the process of dissolution where each man begins to eye his neighbor as a possible enemy, where non-conformity with the accepted creed, political as well as religious, is a mark of disaffection; where denunciation, without specification or backing, takes the place of evidence; where orthodoxy chokes freedom of dissent; where faith in the eventual supremacy of reason has become so timid that we dare not enter our convictions in the open lists, to win or lose.

                Comment

                • #593
                  Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

                  Originally posted by SJHovey View Post
                  Second, what's the advantage to Wells Fargo in enrolling someone in a program where a person doesn't have to make their loan payments? Do they get some fed money for that?
                  I wonder if they get fed money to tide them over and then they get the poor schlub's actual payments later. So: double payout.

                  I don't know it for a fact that the banks wrote the bank bailout plan; I just know it's true.
                  Cornell University
                  National Champion 1967, 1970
                  ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
                  Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018, 2019, 2020

                  Comment

                  • #594
                    Originally posted by SJHovey View Post
                    I'm not sure that story makes sense.

                    First, if he went to Freddie Mac and they told him his Wells Fargo loan wasn't current, that sounds to me like he was in the forbearance program, or he wasn't in it and just wasn't paying his mortgage.

                    Second, what's the advantage to Wells Fargo in enrolling someone in a program where a person doesn't have to make their loan payments? Do they get some fed money for that?
                    It does. My girlfriend asked for info and they enrolled her too. She never planned to never even talked to a person she sent an I quiry and bam they put her in forbearance. She was not happy.

                    Edited to add that she only asked for information.
                    Last edited by Handyman; 05-12-2020, 06:31 PM.
                    "It's as if the Drumpf Administration is made up of the worst and unfunny parts of the Cleveland Browns, Washington Generals, and the alien Mon-Stars from Space Jam."
                    -aparch

                    "Scenes in "Empire Strikes Back" that take place on the tundra planet Hoth were shot on the present-day site of Ralph Engelstad Arena."
                    -INCH

                    Of course I'm a fan of the Vikings. A sick and demented Masochist of a fan, but a fan none the less.
                    -ScoobyDoo 12/17/2007

                    Comment

                    • #595
                      Originally posted by Handyman View Post
                      It does. My girlfriend asked and they enrolled her too. She never planned to never even talked to a person she sent an I quiry and bam they put her in forbearance. She says not happy.
                      Did your girlfriend then stop paying her mortgage after she asked, like if she got the forbearance? That’s what the guy referenced in the story apparently did.
                      That community is already in the process of dissolution where each man begins to eye his neighbor as a possible enemy, where non-conformity with the accepted creed, political as well as religious, is a mark of disaffection; where denunciation, without specification or backing, takes the place of evidence; where orthodoxy chokes freedom of dissent; where faith in the eventual supremacy of reason has become so timid that we dare not enter our convictions in the open lists, to win or lose.

                      Comment

                      • #596
                        Originally posted by SJHovey View Post
                        Did your girlfriend then stop paying her mortgage after she asked, like if she got the forbearance? That’s what the guy referenced in the story apparently did.
                        She was going to (she has two and is currently unemployed) but didn't like the idea of the balloon payment. At first, and I am not making this up, they wouldn't even let her make the payment to either mortgage (that is how she found out she was enrolled cause they didn't email or mail anything) but she somehow was able to get it to go through which seems to have unenrolled her. It is the strangest thing. Her mom was a banker for like fifteen years and she didn't understand it either. All this cause she requested information. Never heard back and never signed anything.

                        I can't speak to the Fannie Mae part cause our interest rate is so low we would never refinance. But the rest I can attest is happening.
                        "It's as if the Drumpf Administration is made up of the worst and unfunny parts of the Cleveland Browns, Washington Generals, and the alien Mon-Stars from Space Jam."
                        -aparch

                        "Scenes in "Empire Strikes Back" that take place on the tundra planet Hoth were shot on the present-day site of Ralph Engelstad Arena."
                        -INCH

                        Of course I'm a fan of the Vikings. A sick and demented Masochist of a fan, but a fan none the less.
                        -ScoobyDoo 12/17/2007

                        Comment

                        • #597
                          Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

                          Originally posted by aparch View Post
                          Meanwhile...

                          Gas prices are starting to tick upward.


                          As I heard a few times, the cure for low oil prices is low oil prices. Seems accurate. So either demand is returning slowly, or additional storage was found.
                          It was reported that more people are driving now than last month. I figure it's a combo of more jobs opening up for business again, people getting cabin fever (had a friend that simply drove the 494-694 loop just to get out of the house), and people fed up with the shutdown and are driving to places.
                          Never really developed a taste for tequila. Kind of hard to understand how you make a drink out of something that sharp, inhospitable. Now, bourbon is easy to understand.
                          Tastes like a warm summer day. -Raylan Givens

                          Comment

                          • #598
                            Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

                            Originally posted by The Rube View Post
                            It was reported that more people are driving now than last month. I figure it's a combo of more jobs opening up for business again, people getting cabin fever (had a friend that simply drove the 494-694 loop just to get out of the house), and people fed up with the shutdown and are driving to places.
                            I've noticed more people on the roads. The first few weeks it was post-apocalyptic. Now it's just the west.
                            Cornell University
                            National Champion 1967, 1970
                            ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
                            Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018, 2019, 2020

                            Comment

                            • #599
                              Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

                              Originally posted by Kepler View Post
                              I've noticed more people on the roads. The first few weeks it was post-apocalyptic. Now it's just the west.
                              I would agree with that.


                              And many are still driving like a bat out of hell as if it was post-apocalyptic.
                              Never really developed a taste for tequila. Kind of hard to understand how you make a drink out of something that sharp, inhospitable. Now, bourbon is easy to understand.
                              Tastes like a warm summer day. -Raylan Givens

                              Comment

                              • #600
                                Originally posted by SJHovey View Post
                                Did your girlfriend then stop paying her mortgage after she asked, like if she got the forbearance? That’s what the guy referenced in the story apparently did.
                                It was just a brief news break when they mentioned it, but it sounded like Handy's story exactly. Guy just called about information, then later went to refinance and was told his loan was not current, because it was placed into forbearance without his approval.

                                If I find an article detailing it better I'll pass it along.
                                “Demolish the bridges behind you… then there is no choice but to build again.”

                                Live Radio from 100.3

                                Comment

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