Author Topic: The Economic Downturn..  (Read 120626 times)

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Offline Bob

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Re: The Economic Downturn..
« Reply #435 on: July 02, 2011, 06:21:59 AM »
Well our Mortgage Loan Modification turned out to be run by a company that was a scam.  So there goes a bunch of money along with enough personal information to do some serious damage via identity theft.  F. 



 >:(


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Re: The Economic Downturn..
« Reply #436 on: July 02, 2011, 06:24:48 AM »
Well our Mortgage Loan Modification turned out to be run by a company that was a scam.  So there goes a bunch of money along with enough personal information to do some serious damage via identity theft.  F. 



Ouch.

Just give me the world and some cops in France will find their heads in a ditch.


Online RVR II

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Re: The Economic Downturn..
« Reply #437 on: July 02, 2011, 06:25:49 AM »
Well our Mortgage Loan Modification turned out to be run by a company that was a scam.  So there goes a bunch of money along with enough personal information to do some serious damage via identity theft.  F. 



 >:(
That really sux! No sense contacting your mortgage holder cause they're worthless..
I'm at a loss as to what to do other than contacting an attorney and they cost money.. :-\


Offline k1

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Re: The Economic Downturn..
« Reply #438 on: July 02, 2011, 06:35:29 AM »
I filed a complaint with the FTC. My wife wants to take them to small claims court but I don't see that workig since we can't get ahold of anyone at the company.


Offline Bob

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Re: The Economic Downturn..
« Reply #439 on: July 02, 2011, 06:45:43 AM »
I filed a complaint with the FTC. My wife wants to take them to small claims court but I don't see that workig since we can't get ahold of anyone at the company.

That matters not..... they cannot hid by not answering the phones.   A lawyer can give you a better answer, but as long as you have their last known contact information, you can file a claim against them.   If they do not show up, you can get a summary judgement.   Now, collecting can be more difficult, but a lawyer can answer those questions.


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Re: The Economic Downturn..
« Reply #440 on: July 02, 2011, 06:52:14 AM »
What Bob said ..
I would definitely buy an hours time with a mortgage attorney!


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Re: The Economic Downturn..
« Reply #441 on: July 02, 2011, 07:35:00 AM »
I'm just saying it's not too late to put a hit on them.


Offline Bob

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Re: The Economic Downturn..
« Reply #442 on: July 02, 2011, 07:40:21 AM »
I'm just saying it's not too late to put a hit on them.

You know, if the people behind scams like this were killed and I was on the jury..... well let's just say they would be home having dinner with their family at the end of the trial.   People like that are the worst kind of scum.


Offline MSTJedi

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Re: The Economic Downturn..
« Reply #443 on: July 02, 2011, 11:22:33 AM »
Sounds a lot like the "debt consolidation" service I used several years back (before it was well known that they're worthless). When I realized they were just parroting back the same settlement offers I was getting in the mail, I decided that it was easier to just ignore the collector calls and letters myself. Of course, this was after I'd already paid them around $1,400 for a weekly call and not much else. Wish I'd just used that money for a bankruptcy lawyer.
« Last Edit: July 02, 2011, 01:19:33 PM by MSTJedi »



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Re: The Economic Downturn..
« Reply #444 on: July 02, 2011, 12:21:47 PM »
My parent's mortgage company a few years ago insisted that my parents via money order because they said they would not take checks any more,they then lost six months of payments and since they were money orders my parents had no way to prove they had made them.  We have been behind and in debt every since.  My parents went to layers and the government and everyone told them the same thing,since they could not prove they made the payments there was nothing that could be done.


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Re: The Economic Downturn..
« Reply #445 on: August 08, 2011, 07:07:52 AM »
So the world markets are tumbling after S&P downgrades AAA status to AA+.. :scared:


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Re: The Economic Downturn..
« Reply #446 on: August 08, 2011, 07:27:14 AM »
So the world markets are tumbling after S&P downgrades AAA status to AA+.. :scared:

Foreclosures in MA are at the highest they've been in over a year.  Not helping with the whole "we need to refinance"/trying to sell situation.


Offline Thrifty

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Re: The Economic Downturn..
« Reply #447 on: August 08, 2011, 07:42:12 AM »
Without further comment (because I don't feel like putting in any thought or defending it), I find this CNBC article on the downgrade to be interesting.

http://www.cnbc.com/id/44057166


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Re: The Economic Downturn..
« Reply #448 on: August 08, 2011, 10:48:41 AM »
Quote
Abandoned Boats Become Unofficial Economic Indicator


Published August 08, 2011


CHARLESTON, S.C. –  Abandoned vessels may have become an unofficial indicator of the tough economy.

While no exact national figures exist, authorities in most states with a coast or large body of water have reported increasing numbers of boat owners abandoning ship in recent years.

"Certainly the economic downturn did seem to increase the number of boats that were being reported as derelict," said Dan Burger, director of communication for the Ocean and Coastal Resource Management division of the South Carolina Department of Health and Environmental Control (DHEC).

There are a host of reasons why people abandon boats, including those who can't keep up on the loan payments, maintenance, or the high cost of fuel.

DHEC is overseeing the removal of scores of abandoned boats from coastal waterways.

During a recent tour of Charleston's Ashley River, DHEC Coastal Projects Manager Curtis Joyner pointed to a saltwater marsh where his agency had supervised the removal of multiple boats.

"There were seven vessels ... consisting of a metal barge, a shrimp boat and several sail boats," Joyner said. "I think it's one of our really good success stories in restoring the environment."

In addition to being eyesores, abandoned vessels often leak fuel and other hazardous chemicals and usually lack any lights to warn approaching boats at night.

Joyner pointed to an abandoned vessel anchored close to a major channel used by commercial and recreational boaters. Over time, anchor lines wear out and boats break free, eventually sinking or colliding with other watercraft.

"When the vessel breaks loose, then we have to deal with it," said David Rogers, harbormaster at the Charleston City Marina. "Normally they're, of course, abandoned and do not have insurance."

South Carolina is among dozens of state and local governments that have recently increased penalties against owners of abandoned vessels. But with boats frequently changing hands and owners often scratching off serial numbers, tracking them can be difficult.

That sticks taxpayers with removal fees ranging from $3,000 to $20,000, depending on the size of the boat.

The same market conditions affecting boat owners are also affecting the government agencies in charge of removing abandoned vessels. So, increasingly, they're relying on help from the private sector.

"A local car dealer chipped in to help us get a big shrimp boat out recently," said Robbie Freeman, managing partner of the Charleston City Marina. "Just people who care about clean water."

Freeman said he advises financially troubled boaters to seek help from local businesses and government authorities before their vessels take on water.

According to Freeman, once a boat sinks, disposal fees can quadruple, making a public hazard all the more costly.

Read more: http://www.foxnews.com/us/2011/08/08/abandoned-boats-become-unofficial-economic-indicator/#ixzz1USd59M3n


Offline Thrifty

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Re: The Economic Downturn..
« Reply #449 on: August 08, 2011, 12:23:42 PM »
It seems a little weird how much attention ordinary people pay to the Dow.  Hasn't it been up to its pre-recession levels for like 2 years, yet economic growth still pretty slow?  Plus, we had a better than expected jobs growth report on Friday.  It seems like people assign too much importance to the Dow and other stock market indices because these are the most prominent numbers, and they change constantly.  Stuff like GDP growth, unemployment rates etc., come out what, 4 times a year?  There's this strong psychological impact behind the stock market numbers that doesn't really correlate to reality.

The other thing I don't understand is why the STOCK market would tank as a result of a downgrade in United States government BOND ratings.  The Dow is a measure of the performance of stocks by private companies; Friday's downgrade was a hit to government issued bonds, which today are doing pretty well.  Seems kind of ironic.

But then, I'm no economist.  Maybe I'm missing something.

I'm sure times are tough, but I swear, all news seems to thrive on being pessimistic.  To read the news lately, you'd think nobody in America had a good job with a steady income.  You'd think we were ALL teetering on the brink.