Forum Post: Articulate please
Posted 13 years ago on Oct. 8, 2011, 10:40 a.m. EST by opentosuggestion
(0)
This content is user submitted and not an official statement
I am aware that you think it is unfair that there are rich people. OK I get that. But I don't get is what you want? You have a vision. What is it? If you exercise your right to assembly, you owe it to the rest of us to state the reason clearly, both your objections and your objectives need to be clear. They aren't.
If you want a Specific Complaint, here is the biggest Banking Inequity
My generation has not known anything else, but the practice of loading the interest on the front of home mortgage loans has a major defect. The problem is arises if you have to sell your home within the first five years or so you will still owe about the same as the original loan amount because the first years you pay almost all interest. In other words your actual interest rate for the loan is around 33 percent if you sell at the five-year mark. People disparate to own a home did this in the past as home values rose enough to create some equity in the home. With decreasing home values, the ‘unfairness’ of front-end loaded mortgages is blaring. Banks CAN make good money by making home loans where at least fifty percent of monthly payment goes toward the principle. I have made numerous such loans and banks make good money from making these types of loans. Even with credit cards, you only owe for the outstanding balance. This way if your sell the home after five years you would be assured some equity (a little less than 20 percent) and the banks would have made a fair profit (again about fifteen percent or so) during those years that they actually had money at risk. They do it fore me; they can do it for everyone.
This is a problem in need of a remedy. If this make sense to you please pass this along as some are saying the protesters are not putting forth any specific complaints. If banks can make a reasonable profit from a ‘fairer’ loan, why should home ownership be so burdensome? Just because it has always been that way, why should it take a lifetime to own a home? To me, it sounds like another step toward freedom and independence.
If you want a Specific Complaint, here is the biggest Banking Inequity
My generation has not known anything else, but the practice of loading the interest on the front of home mortgage loans has a major defect. The problem is arises if you have to sell your home within the first five years or so you will still owe about the same as the original loan amount because the first years you pay almost all interest. In other words your actual interest rate for the loan is around 33 percent if you sell at the five-year mark. People disparate to own a home did this in the past as home values rose enough to create some equity in the home. With decreasing home values, the ‘unfairness’ of front-end loaded mortgages is blaring. Banks CAN make good money by making home loans where at least fifty percent of monthly payment goes toward the principle. I have made numerous such loans and banks make good money from making these types of loans. Even with credit cards, you only owe for the outstanding balance. This way if your sell the home after five years you would be assured some equity (a little less than 20 percent) and the banks would have made a fair profit (again about fifteen percent or so) during those years that they actually had money at risk. They do it fore me; they can do it for everyone.
This is a problem in need of a remedy. If this make sense to you please pass this along as some are saying the protesters are not putting forth any specific complaints. If banks can make a reasonable profit from a ‘fairer’ loan, why should home ownership be so burdensome? Just because it has always been that way, why should it take a lifetime to own a home? To me, it sounds like another step toward freedom and independence.
END THE FED !! End fractional reserve banking
Also, we should make all the bankers wear monocles and pinstriped suits so we can identify and scapegoat them easier. It would be just like we did in ancient WW2 times with the star of David, only much more fashionable. Retro is in right now.
Take back the house!! Vote for representatives that have a solution not an ideology. If a candidate tells you he knows what needs to be done he is pushing an agenda and has no interest in solutions. We need to fix broken systems, not ignore them anymore.