Home foreclosures soar ... Rates in tri-county area mirror national trends
By Katy Stech
The Post and Courier
In what has become an all-too-familiar scene, Harriet Hendricks conducts a foreclosure sale outside the Charleston County Courthouse.
Home foreclosures in the Charleston area rose dramatically during the first three months of this year, mirroring national trends and reinforcing worries about the shaky U.S. economy.
Lenders filed foreclosure proceedings on 874 residential properties in the tri-county area in the first quarter, according to statistics compiled by The Post and Courier.
While comparable data from a year ago is unavailable for Dorchester County, the number of foreclosures in Charleston and Berkeley counties jumped to 638 this year from 425 in the same period last year, a 50.1 percent increase.
Dorchester County, which reports the number of properties set for county auctions, rather than foreclosure filings, saw a 53.8 percent increase from the same period last year.
The rising foreclosure rates are part of the fallout from a slumping real estate market that has dampened property values across the country. In some cases, homeowners who bought in the past two years have seen their property values decline, making it hard for them to refinance out of adjustable-rate mortgages that have reset to higher monthly interest rates.
"People have put themselves in a position where they bought houses they couldn't afford," said Frank Hefner, an economics professor at the College of Charleston.
The problem stemmed from government policies — coupled with an expanding and increasingly competitive real estate industry — that encouraged homeownership, Hefner said. The debate over renting versus buying quieted in the late 1990s when home values began rising steadily and lenders created new ways to qualify buyers for mortgages.
Before the peak, owning a home became profitable in many areas of the country, including Charleston, which saw rapid rises in values. But now that the housing boom has reversed and prices have stopped climbing, some homeowners have found that they now owe more money than their home is worth.
Lower values have made it difficult for homeowners to refinance their homes if their monthly mortgage payment has reset to a higher rate. During the housing boom, loans that had low introductory rates but reset to higher rates after several years were popular with buyers who could afford only small down payments and had sketchy credit histories.
"If you've taken a variable-rate loan, you are speculating," Hefner said. "If you do a 30-year fixed (loan), you're no longer speculating, but you might not be able to afford the house."
In addition, the number of properties for sale in Charleston has built up to nearly 11,000, according to the Charleston Trident Association of Realtors. The large inventory is good for buyers but not sellers.
Homeowners who relied on risky loans in recent years bought homes at a range of prices, including higher-end suburban estates.
David Chard, a North Charleston attorney who tracks foreclosure filings in Charleston County, said that since the beginning of the year he has seen a lot more higher-end properties in Mount Pleasant, Johns Island and the barrier islands fall into foreclosure than in the past. Traditionally, those areas rarely recorded mortgage defaults.
Some of the increase stems from apartments that were converted from condominiums and sold, Chard said.
He also noted that a foreclosed home can hurt the values of nearby residences because lenders usually sell so-called distressed properties they have seized at a 20 percent discount.
"It's sort of like an eddy in an ocean," Chard said. "Once you get stuck there, it just sucks everybody in."
Bob Bergmann, who originates loans for Wells Fargo Home Mortgage's West Ashley office, advises homeowners who are facing financial trouble to put aside any embarrassment and contact their lender for help.
"Timing is critical for borrowers facing financial difficulty," he said in an e-mail. "The earlier a customer notifies us of a problem, the more options we'll have available to help."
Reach Katy Stech at 937-5549 or kstech@postandcourier.com.
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angryinjun (anonymous) says...
Just out of curiosity, how many of the people involved in the 874 foreclosures do you think actually read their mortgage contract? I'm guessing well less than ten percent.
April 12, 2008 at 1:09 a.m. ( permalink | suggest removal )
SomeTruthPlease (anonymous) says...
I'm one of the idiots that opted for an ARM. I read it, but I wanted my house, and didn't have everything that I needed to put down to get a lesser rate. I'm busting my butt to work with NACA to get it resolved, but I've had so many changes since we took out the mortgage...i.e., husband had on-the-job injury, etc., and having fallen behind once, refinancing via traditional methods would be nearly impossible for nearly 12 months. So, we will continue to eat modestly, literally live with the lights off, and not run the a/c in the car to shave money off the top wherever we can. Angryinjun, I did read my mortgage contract, but figured I could get my score from 670 to over 700 in 12 months, but things just didn't pan out that way. Mortgage lenders do make a refinance seem a lot easier than it is, especially with the market being flooded with homes. My house is probably worth 10K less than we paid 16 months ago, and we've made improvements.
April 12, 2008 at 2:01 a.m. ( permalink | suggest removal )
ForPnC (anonymous) says...
STP - Some of these mortgage lenders need punished. They preyed on people like you. Someone wanting the American Dream of owning a home.
While I want to blame the buyers that signed these contracts, a lot of the blame needs to be placed on the lenders for their tactics. None of us know when we'll suddenly lose our jobs and will be fighting just keep our homes whilst letting everything else go to hell.
Do I think the government should help? Hell no.
I would advise folks that are trashing these home owners to sit back, look at the situation, and hope that they or their family members aren't suddenly thrust into it. You can plan your perfect world and your perfect budget all you want. You just never know when that ax is going to fall.
I hope you're able to save your home, STP.
April 12, 2008 at 5:22 a.m. ( permalink | suggest removal )
ballachulish (anonymous) says...
stand828,
You sound like a great attorney, wish I had you back when I contracted to build a house in 1998. The builder took off without finishing the house, I had to pay an extra 50,000 to a contractor to finish, and my attorney just told me I was SOOL.
April 12, 2008 at 5:54 a.m. ( permalink | suggest removal )
ForPnC (anonymous) says...
I remember when I was getting my loan. I told the lender that I'm not spending any more than the set amount I gave them and I'm using my VA loan. They kept insisting that I qualify for five times the amount I want. REALLY pissed me off. They asked why I didn't want a higher loan and I told them I wanted to be able to eat and pay the bills without taking a second job.
It took me four months to find the house I wanted within the budget I set for myself. It's not huge or fancy. It's the wonderful little house I was looking for that I was told didn't exist.
April 12, 2008 at 8:08 a.m. ( permalink | suggest removal )
cinnabar (anonymous) says...
There are lost of sad stories out there. Also, there are lots of instances where extending credit to unworthy borrowers is now blowing up in lenders faces. One issue that has not been explored is the pressure lenders have had from politicians and newspapers to extend credit to minority borrowers. Over the last several years I have noted many articles showing the disparity between races in loan originations. As always, the reporters play the race angle to generate newspaper sales. Such articles send a chill down politicians spines(or what is left of it) and results in undue pressure to change lending practices. The result...the floodgates open to a sea of risky loans to all types of risky borrowers with carlot credit requirements. Then Chinese money, greedy flippers, Northern retirees, overblown market prices, and other influences got us where we are now. I'm sure there are also some greedy lenders, illness, inept management, and other issues in the mix. I personally don't care who gets loans as long as they can repay, and they have the economic credentials to qualify.
I don't support giving loans, jobs, or anything else based on quotas related to race. These practices are continuing to divide our citizens and I believe this has contributed to the loan crisis. As Dr King recommended, judge not a man by the color of his skin but the content of his character..
April 12, 2008 at 8:20 a.m. ( permalink | suggest removal )
SJ1 (anonymous) says...
Thomas1776: "Home foreclosures out the yin yang. And developers push on our elected leaders to allow them to build more. Duh!"
Do you know why developers keep building houses? Because people (that'd be you) keep buying them. Wanna stop development? Stop buying the homes.
April 12, 2008 at 9:02 a.m. ( permalink | suggest removal )
SJ1 (anonymous) says...
Bottom line is if we all handled our finances Biblically, we wouldn't be in this predicament. If you get a chance, listen to Dave Ramsey on 94.3 from 6:00 to 9:00 during the week and you'll understand what I'm talking about.
April 12, 2008 at 9:06 a.m. ( permalink | suggest removal )
ImplantedYankee (anonymous) says...
There are always those few heart-wrenching exceptions, but, by and large, these are people who took out loans they couldn't afford, and lenders lending to people who couldn't pay back. And, by and large, I don't have sympathy for either.
April 12, 2008 at 9:23 a.m. ( permalink | suggest removal )
amylrod (anonymous) says...
Thanks for your input, stand828. And SJ1, I agree with your comments and suggestion of listening to Dave Ramsey.
What I find unacceptable and equates to stealing and fraud is hearing of home owners refusing to pay their mortgages because they believe and expect the Government will bail them out. So they are just sitting back, biding their time, waiting for government to step in with money in hand.
April 12, 2008 at 9:54 a.m. ( permalink | suggest removal )
majorjohnson (anonymous) says...
Cinnabar makes the point I was going to make. Everyone from the federal government to city governments have been pushing lenders to lend to people who couldn't afford the loan, had no down payment, didn't have the FICA. Some are even providing tax dollars to make the down payment for people who aren't prepared financially to own a home. Now it's come back to bite everyone.
When I went looking for my home I specifically looked for a home at a price that I could still support if I had financial problems. I ended up with an older small home in the country, had 20% down, got a 30 year fixed and payments of less than $300/month. I have 3 bedrooms, so most of the families out there could manage to live here, but they wanted big spacious pretty expensive houses. I look at these people who are paying $1,500 and $2,000 a month and wonder what the heck are hose people thinking. The company I worked for shut down a year after I bought my house, but I was able to keep the payments going.
Per that guy who was $16,000 behind on his payments, he must have had some huge payments or he was way more than a "few" months behind. As far as the lender not working with him, they obviously knew they were going bankrupt. Why would they work out a plan for less money when they think they're about to fold? If they hadn't had creditors who were $16,000 behind in payments maybe they would still be in business.
April 12, 2008 at 9:59 a.m. ( permalink | suggest removal )
willx45x (anonymous) says...
Property values in Mount Pleasant will drop like a stone over the next 12-18 months. Real estate in the tri-county area is ridiculously overpriced and sellers just don't have a clue. This will only get worse until sellers realize that their homes are not worth what they were 24 months ago and act accordingly. Real estate in this area, generally-speaking, is 30% overvalued across the board.
April 12, 2008 at 10:24 a.m. ( permalink | suggest removal )
Victor (anonymous) says...
I guess the problem would not have happend if homeowners knew how much he/she could really afford and how much of a downpayment is really needed. "Gambling" is for people that have money and can afford to loose. This is exactly what people did: bought a home because the apreciation rate was good and not because a house was needed to live in. The initial though process on the home purchase was wrong from the begining. People purchase to sell it in 5 years and cash the profits from the appreciation. Therefore, the buyer was "gambling" trying to get a higher return.
My question is: why Taxpayers and Federal Reserve are responsible for helping GAMBLERS? The mortgage company that approved the "Gambling" should be solely responsible for all of the losses and yes, companies have to fail and have to go under in order to correct the market.
April 12, 2008 at 10:55 a.m. ( permalink | suggest removal )
blswb3 (anonymous) says...
It amazes me that as the discussion continues on this topic, that the government continues to focus on poor lending and blames homeowners for borrowing above their means. Even with the adjustible rates, most homeowners probably believed they could handle the higher payments in a few years...what no one expected was gasoline prices at $3.25 a gallon (and rising) and milk at almost $5 a gallon and soda at $4.19 a six pack and doubled utility bills and in fact, all of life's necessities almost double from two or three years ago. What is the reality here? Homeownership is being jerked out from under us by the avarice of the oil companies and the unwillingness of the government to address THAT problem. But what am I thinking? Managing the oil companies' profits would reduce our President's bottom line...since he stands to profit enormously by the current situation. We seem to forget he IS Texas oil.
April 12, 2008 at 11:18 a.m. ( permalink | suggest removal )
JD (anonymous) says...
I agree, in one way or another, with everything that people have said so far on this posting. But the bottom line, to me, is that we as Americans have lived beyond our means for way too long. This has been encouraged by our government and a generation of people who have been able to have anything they want, but had to go into debt to get it. As long as the economy was booming, eveything was ok, but very few people thought ahead enough to be able to deal with things going south and alot of people that did consider this in their budgeting, failed to put enough $ money in their rainy day fund to sustain for this long. Therefore, they too are ending up in financial difficulty. It is a terrible thing to wake up one morning and realize that the amount of money that you have is not enough. The definition of wealth is how long a person can maintain their lifestyle if they no longer worked. Going in debt and accumilating alot of stuff based on debt is not wealth. And unfortunately, many of us have become accustomed to keeping up with the Jones' instead of leading a life that fits us. This in turn has played a big part in why we are in the current situation. My hope is that once the people that are in these sitiuations have been able to put them behind them and move on, they will take what they have learned and apply it in the future. And as a final statement, I too am one of these people that are experiencing the financial crunch do to over spending.
April 12, 2008 at 11:35 a.m. ( permalink | suggest removal )
SJ1 (anonymous) says...
Good grief. How in the world is the government at fault? Irresponsible people are always trying to blame everyone else for their stupidity. I just bought a house and I'm doing fine. If gas prices go up and that causes you to miss a mortgage payment then guess what...YOU CAN'T AFFORD THE HOUSE!...and probably never could. IT'S YOUR FAULT! Stop looking for everyone else to solve your problems. If the mortgage lender told you to jump off a cliff, would you do it?...even if they insisted you'd be okay? C'mon people! WAKE UP!
April 12, 2008 at 11:44 a.m. ( permalink | suggest removal )
whome (anonymous) says...
While "subprime" is an easy target, this problem is much bigger than that. The subprime mortgages increased the demand (and subsequently the price) for housing, creating "wealth" for everyone that owned homes. The question that no one seems to ask is how much of the Bush economic "recovery" was basically a result of homeowners tapping their newfound "wealth" by using their homes as ATMs to purchase cars, second homes, plasmas TVs. By some estimates, the value of outstanding home equity lines of credit is over 1 trillion dollars. Of course, foreclosures have the generally impact of depressing housing prices across the board; so selling a house could mean having to come up with tens of thousands of dollars at closing. The scary part is that foreclosures usually happen at the tail end of a recession and do not usually lead them.
April 12, 2008 at 11:52 a.m. ( permalink | suggest removal )
newto843 (anonymous) says...
ARM's or not, home prices just went beyond what people could afford. Look at the median incomes versus the median home prices. Those that say they have absolutely no sympathy for the average person (flippers excluded) out there who just fell behind must be so secure in their savings and income that a job loss or medical problem would never effect them. For the vast majority of us that is not the case, everyone wants a shot at the American Dream.
April 12, 2008 at noon ( permalink | suggest removal )
ballachulish (anonymous) says...
SJ1,
You just bought a house and are a little smug since you currently can pay your mortgage.
I bought a house that I could easily afford. Then my husband got transferred to another state, so I was paying a mortgage for 2 houses, because I couldn't sell my SC house and rentals in my new location were as high as a mortgage. It took 2 years and a 100k loss before I sold my SC house.
I hope you never have an unforseen event such as job layoff, divorce, etc. that will put you in the same situation as those who have lost their homes.
I agree it's not just the the government's fault, but they played a part by not regulating the banking industry and ignoring the inevitable real estate bust....
April 12, 2008 at 12:40 p.m. ( permalink | suggest removal )
JD (anonymous) says...
SJ1,
Our government does indeed encourage us to go into debt. Just look at the debt that they have, that they carry with OUR tax dollars. Take the $600.00 rebate that you are going to get from them, do you think that they want you to save it? Lord no, they want you to spend it, ALL of it, which with the way things are should not be hard to do. My point is, they do not encourage people to save their money, at all. They do not encourage people to pay down debt and eventually get out of debt. Our government is funded by tax payer's money to protect the citizens of this country. Well, that translates to total protection, not just from terrorists. It by no means is all the government's fault, but they do have a hand in what is going on right now and the ball was dropped by them 10 years ago when this whole sub prime mortgage thing really started picking up steam. They new the risk of it, but because of the money that would be generated, they could not bring themselves to step in and regulate it. Greed is a very powerful thing............. Unfortunately it is also an evil thing.
April 12, 2008 at 1 p.m. ( permalink | suggest removal )
whycantitbebetterhere (anonymous) says...
My husband and I were married 2 1/2 years ago and both had smaller homes and needed a larger one for after we were married. We looked all over the area, and did not want to go over $200K for a house, so that if one of us found ourselves out of a job, one of us could pay for everything if need be. We don't have kids yet, and plan on private school, so we weren't hung up on living in the so called "hot" parts of town. There wasn't much to be had in that price range that wasn't in timbuktoo (long commute), or in a new tract home neighborhood (we wanted big old trees and and big yard). I have lived here for years and couldn't see paying $300K + for a crackerbox WA (they used to cost $60 and are SMALL)or for a tract home in Mt. P. (they used to cost $140K) We found a huge old rancher with beautiful floors, a fireplace, most of what you would want in N. Chas. for a whole lot less. It is a beautiful home, and the neighborhood is great! Lots of retired and friendly neighbors. We take a lot of crap for living in N.Chas - but guess what - we have a 5% fixed rate mortgage (perfect credit), we have updated the house ourselves and it is very nice - huge yard, we love our neighbors, and we have a 10 minute commute to work. We aren't worried about the market - we don't have to sell, and if one of us loses our job, the other one can pay for it. We were responsible when we bought our house, we didn't try to keep up with what you could now say are an awful lot of idiot "Joneses", and we are pleased that we made the safe move. People need to get over having to have everything that everyone else "seems" to have an do what they can afford. I think a lot of people are realizing right now that they thought they would be embarrassed if they lived in a cheaper area, but it is a whole lot more embarrassing to get kicked out of your house and not even be able to rent an apartment (there aren't many by the way)because your credit is so bad. I don't care if people think I am nuts for living in N. Chas. - it is nicer than most people know - and I can sleep at night because what I have is affordable. People need to stop buying into the snobby opinions in this area - look what is happening to people who tried to have more house than they should have.
April 12, 2008 at 1:03 p.m. ( permalink | suggest removal )
SJ1 (anonymous) says...
balla & JD- I'll say it again. Stop looking for other people to fix your problems. Evaluate every aspect of your decisions before you make them and start using your brain to make your decisions, not your heart. I'm not living in my dream home. Know why? Because I can't afford it...yet. Don't know about you but I'm using every penny of my stimulus money towards my mortgage. Not throw a party, not buy a TV, not put a down payment on a car, not buy new furniture, or any other stupid material item. Please remeber, the same programs you accepted were offered to me. I declined and because of that, I'm okay living where I am. If making smart decisions and encouraging others to do the same is smug...well, then call me Captain Smuggly. I would strongly encourage you to look towards the Bible to answer any financial questions in the future. And no, I'm not holier than thou. I'm just smart enough to recognize a good plan when I see one. Please please please listen to Dave Ramsey on 94.3 from 6PM - 9PM every week night. If you follow his advice, I promise you it will change your life...regardless of your current situation.
April 12, 2008 at 1:50 p.m. ( permalink | suggest removal )
JD (anonymous) says...
SJ1,
I will say it again.......... I am not nor have I ever looked to someone else to solve my problems. I am however, pointing out the facts. OBVIOUSLY, there are alot of people out here that ARE NOT as smart as you, or maybe they are more naive than you, OR MAYBE, your day is coming when you too, no matter how smart you are, are going to realize some of your short comings.
Everybody's situation is different. No 2 people end up in these situations for the same reasons. For some it is ignorance, for some it is being naive, for some it is greed, and the list goes on. The bottom line is, that at the end of the day, it is up to all of us to help each other through tough times and to share stories, good or bad, so that people may be able to learn, not only from their own mistakes, but from other's mistakes as well. And the fact that people like you want to sit on your high and mighty chair and judge other people because of mistakes they have made, in my opinion, is totally unacceptable. There are alot more forces at work when buying a home than just a "stupid" person signing a piece of paper for a loan, and if you are truly as smart as you say you are, you would know this.............
April 12, 2008 at 2:08 p.m. ( permalink | suggest removal )
Victor (anonymous) says...
Goverment does encourage "Financial Leverage" but that does not necessarily mean that someone should spent $250k with no money down and expect values to go up. That is just ridiculous from the Lender that gave the money and from the borrower that signed the papers. The goverment should in fact offer Finance courses for leneders and borrowers instead of using tax money to bail out GAMBLERS.
April 12, 2008 at 2:47 p.m. ( permalink | suggest removal )
SJ1 (anonymous) says...
JD- If you need me to counsel you before you buy your next home, just let me know. I'll be glad to "help" you. Just make sure you give me enough time to climb down. Discussing your problems and blaming the gubmint are two completely different things. If you don't blame the gubmint then my comments aren't directed towards you. But I think I have a good idea of how you resolve your problems. I wish you well in your endeavors. I'm sure we'll run across each other in here again. BTW, just because the gubmint encourages something doesn't mean it's good...but I guess it's hard to blame them if you do your own thinking.
April 12, 2008 at 6:48 p.m. ( permalink | suggest removal )
Smart_Enough_2_Know_Better (anonymous) says...
I've been through three layoffs, twice for 6 months straight. What did I do to survive and pay my mortgage? I used my savings. Not my 401K or retirement savings mind you, but my cash-in-the-bank savings. Never even had to touch my retirement savings.
Novel idea, living within your means. By doing so you can usually make it through life's little financial bumps that are bound to come your way. That's kinda the point of savings. Problem is, the US has the lowest savings rate of any industrialized nation.
For examples of living beyond ones means, I have to look no further than my own neighbors. I live in a pretty decent neighborhood. Large houses, great school district, close to downtown. You would think the people living here are reasonably well off. Yet as I have visited my neighbors' homes, many times have I been surprised by the lack furniture. Living room, dining room- empty. Extra bedrooms- empty. And even the main rooms are sparsely furnished. When you're first starting out in life, this is to be expected. But these are people in their 40s, 50s and beyond. What business do they have buying a house they can't afford to furnish? I would point to this as living beyond ones means.
I'm not saying that everyone who has run into trouble and been unable to make their mortgage payment was living beyond their means. Sometimes bad things happened to good people, and no amount of planning could have prepared them for what they suddenly had to endure. But from what I have seen- and from what statistics show- a great number people in the US DO live beyond their means. And in the process, they save next to nothing. Talk about a recipe for disaster.
Interest-only and ARM mortgages were designed to make homes more affordable, but they also enabled people to live beyond their means. Yet every single person that took out one of these loans (and even I had a 7-year ARM at one point) knew that the piper would one day come calling. They just assumed that the market would stay strong and that they'd have lots of equity and would easily be able to refinance. Or maybe they'd have a better paying job, or inheritance- whatever. The point is, the loan terms- and especially the fact that the monthly payment amount would become significantly higher at some point if they still had the loan- was clear to everyone.
We don't save, we've taken out the equity in our homes that the housing boom gave us, and we've purchased homes that were beyond our means. As we make our bed, so must we lie upon it.
April 12, 2008 at 7:21 p.m. ( permalink | suggest removal )
UrGatorbait (anonymous) says...
At fault:
mortgage lenders/brokers
loan underwriters
mortgage companies
Home buyer
To the rescue:
US taxpayer
The entitlement mentality is alive in well in the US at both the individual and corporate level. I'm tired of bailing irresponsible people out. You made a mistake and now people who read the fine print, asked the questions, try and live with in their means have to be stuck with the picking up after them AGAIN? Greed and self centerdness will be the downfall of this country.
April 12, 2008 at 10:58 p.m. ( permalink | suggest removal )
JohnS (anonymous) says...
Don't feel sorry for these people. They entered freely into a contract with a private company. It's obvious they could not afford the house to begin with. The taxpayers should not bail them out. The mortage company is not the problenm. They can go rent for the next seven years and try again then.
April 13, 2008 at 12:41 a.m. ( permalink | suggest removal )
ImplantedYankee (anonymous) says...
Let these houses go to auction. Let the lenders suck up the loss of firesale prices. There will be a few more big write-downs in the news. In a few months, the market will begin to normalize and everyone will have learned a valuable lesson.
April 13, 2008 at 8:20 a.m. ( permalink | suggest removal )
ballachulish (anonymous) says...
SJ1,
You pompous git, I didn't get bailed out by anyone. I was able to pay 2 mortgages for 2 years, so obviously I'm not fiscally irresponsible. My point was: even people who purchase w/i their means can be sidetracked by a tragedy such as divorce, a sick child, etc.
Unlike you, I have empathy for those who lose your homes due to these tragedies.
Oh by the way, I sold my second house in 2005 for a $185k profit and am waiting for the market to fall to the bottom before I purchase again.
And I'll be laughing my can off at you who purchased at the wromg time and will end up owing more than your house is worth in 2 years.
Ha!
April 13, 2008 at 8:36 a.m. ( permalink | suggest removal )
Cid95 (anonymous) says...
It's good to read here that there are other responsible people that understand the concept of living within your means, savings, and PERSONAL RESPONSIBILITY.
If YOU signed the loan agreement then YOU are responsible for paying it. No ifs, ands or buts. No excuses. Common sense should tell you that life might throw some curveballs at you and you better be ready for them financially.
I see some people on here have a little tag or signature line in all their posts. Here's mine:
"You have the right to the pursuit of happiness, but you have no guarantee of achieving it." Cid95
April 13, 2008 at 11:20 a.m. ( permalink | suggest removal )
curiousgb (anonymous) says...
Just like the Compost and Courier. Only report the drama. Don't report the 96% of mortgage holders that are paying their mortgages. They are yelling fire in a theater. Creating a self fulfilling prophecy for the whole market. Granted the market needs to adjust. But my god, we have to have some personal accountability. I am sorry people are loosing their homes. But if people didn't follow basic money management (don't buy what you can't afford) then I don't have much sympathy. Especially since I am now paying the price for everyones greed. I am getting pissed just thinking about it.
April 13, 2008 at 7:22 p.m. ( permalink | suggest removal )
crankyyankee (anonymous) says...
Jee I wich i payd mor atension in skool!
April 14, 2008 at 8:33 a.m. ( permalink | suggest removal )
stoxwatcher (anonymous) says...
Now maybe, just maybe The Learning Channel will cancel the show "The Real Deal" featuring the egotistal Richard Davis, who's head is so big he needs to turn sideways to fit through a door opening. Nah, just because A&E TV bagged him, he'll be back. Only this time, with thousands of forclosures coming to the metro Charleston area, they'll name the show "Flip that forclosure"
April 20, 2008 at 4:09 a.m. ( permalink | suggest removal )
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- Off campus
- GenPhar site 'red-tagged'
- Historic manor house used by Girl Scouts is among buildings that might be torn down to make way for future
