“The fallout from the horrific holiday season for retailers has begun, with the operator of an online toy seller filing for bankruptcy protection and more stores are expected to do the same — meaning more empty storefronts and fewer brands on store shelves.

A rash of store closings, which some experts predict will be the most in 35 years, is likely to come across areas from electronics to apparel, shrinking the industry and leading to fewer niche players and suppliers.”

As I’ve been saying, this economic catastrope is real. The media’s and Obama’s handlers efforts have been rewarded beyond their wildest expectations.

It will be a Socialist playground, and will set back the cause of freedom for decades.

And of course, Dubya has been a willing dupe. When Paulsen rushed into the Oval Office 7 days after Lehman Bros’ fall reversed McCain’s lead, George should have said, “let’s think about this bail-out thing for a few days before acting Henry. The world didn’t end today, and it won’t end tomorrow either.”.

Instead, we are where we are….and it has worked out EXACTLY like the Socialists planned.

My question is are they saying the house lost over $230,000 in value in 3 years? Also from the article , it says it is a semi-rural area, looks to me like it is in subdivision. Lot of difference.

From personal experience, I know that a house in a subdivision can lose a lot of value depending on who moves into the said subdivision.

Lastly, I really, truly hate the msm that now that Christmas is over (and oh, btw the sales stats is probably coming in a lot better than expected – I know our malls were humming) they have to once again for the the final three weeks until The One ™ is installed as Master of the Universe, Savior of the World and of course, The Magic Negro to reverse and put an end (forever) to racial divide and make everything (even the rising seas) peace, justice and kumbyah for all – to remind us, the stupid masses, that evil Bushitlerburtonco ruined, just ruined everything in America (for the past eight years).

30-year fixed mortgages peaked (for 2006) at 7%. In other words, had these idiots gone fixed-rate, they’d have paid a half point more in ‘06 (assuming worst case) but be 2 1/2 points lower now…

If I were them, I’d be looking for the mortgage broker in a dark alley with a number two golf club.

This story may be more tragic than anyone has yet guessed.
I called my brother and sister-in-law to make sure, (my sister-in-law is an MD, my brother is both an MD, Ph.d, and teaches at a medical school). I also talked my wife, a clinical psychologist.

There is, possibly, a single explanation for the hydrocephlus, Chiari malformation (type II), spina bifida, blaming others for the problems (the lawsuit, the mortgage), and making poor decisions with money. They can all be explained by alcoholism.
SG – feel free to delete

1. Not reading the fine print

2. The American Dream of living in your own castle—er, home.

Or to put it another way—a cable guy in the Hamptons? Rather than keep their dream home, they should have looked at what would be the best situation that would still leave them solvent. A small home in a not-so-trendy place with a good job market would be ideal.

I expect the next round of money problems is going to be from student loans—although I have noticed the companies that were advertising every five minutes last year have stopped. I was lucky enough my loans are backed the the Gummint, but even still forebearing them because I was unemployed several years ago sacked me with $7,000 in interest. Fortunately I’m paying down in the principal now, and hope to someday be rid of them. But these kids who took out $100,000 for a liberal arts degree—just wait!

Did they use the daughter’s funds to pay for the house? After all, any settlement given to the child would be controlled by the parents until she is 18.

So you know you have a daughter that requires extensive medical treatment and you know that any financial set back is going to put you in dire straits, but yet, you buy a home with an adjustable rate and don’t realize that the damn thing is probably going up?

My home mortgage is an adjustable rate. It rolls every September. This past September my payment went down from $564 to $486. That’s $78 a month that belongs to me.

Here is another thing that stinks about this story; if they have an adjustable rate, and it is tied to prime, it should be going down, not up. So this tells me that this is not a current story. If they have an adjustable rate, and it is not tied to prime and will not decrease as prime decreases, they are too stupid to own a home.

And if that is what an 1,800 sq. ft. home costs in the Hamptons, then they should have moved to Texas. They could have gotten 4,500 sq. ft for that price. And had the finest hosptial in the nation at their disposal.

Just another “poor me, I don’t want to do anything to help myself so you poor taxpaying smucks should.” story.

Oh that’s right that would require sacrifice and forethought – never mind – something tells me they vote Democrat