Bushie: The Final Frontier - Update Season V

[MasterJedi]

true irrational actors are rare. 

This is patently false. People make crazy decisions all the timme. You should get out more.

Yeah, I see it all the time at work. They call in, already have $15,000 out in loans, they ask how much that have, I tell them $35. They have me send them it through FedEx for $15 and they don't want to talk about loan repayment. They call back in asking why they have to pay a certain amount necessary to keep the policy open because "it's their money" or why they have to pay taxes on a lapsed policy etc etc. People really have no idea when it comes to their money.


And why would Bushie (or anyone for that matter) be stupid enough to pay nothing down on a mortgage? If you can't at least put 20% down you really shouldn't even be thinking about buying anything.

[Torie]

true irrational actors are rare. 

This is patently false. People make crazy decisions all the timme. You should get out more.

Yeah, I see it all the time at work. They call in, already have $15,000 out in loans, they ask how much that have, I tell them $35. They have me send them it through FedEx for $15 and they don't want to talk about loan repayment. They call back in asking why they have to pay a certain amount necessary to keep the policy open because "it's their money" or why they have to pay taxes on a lapsed policy etc etc. People really have no idea when it comes to their money.


And why would Bushie (or anyone for that matter) be stupid enough to pay nothing down on a mortgage? If you can't at least put 20% down you really shouldn't even be thinking about buying anything.

No, zero down is a good deal if you can get it (particularly with an FHA loan). That way, if the house depreciates, you have not lost any money. You just walk away. If Jeff had stable employment, and was committed to the location, his house purchase would have been fine. The Okie housing market is dirt cheap.

[MasterJedi]

true irrational actors are rare. 

This is patently false. People make crazy decisions all the timme. You should get out more.

Yeah, I see it all the time at work. They call in, already have $15,000 out in loans, they ask how much that have, I tell them $35. They have me send them it through FedEx for $15 and they don't want to talk about loan repayment. They call back in asking why they have to pay a certain amount necessary to keep the policy open because "it's their money" or why they have to pay taxes on a lapsed policy etc etc. People really have no idea when it comes to their money.


And why would Bushie (or anyone for that matter) be stupid enough to pay nothing down on a mortgage? If you can't at least put 20% down you really shouldn't even be thinking about buying anything.

No, zero down is a good deal if you can get it (particularly with an FHA loan). That way, if the house depreciates, you have not lost any money. You just walk away. If Jeff had stable employment, and was committed to the location, his house purchase would have been fine. The Okie housing market is dirt cheap.

Except it's almost impossible to get one these days and if by some miracle you are able to pay off that long you'll be paying a lot more. That goes with what BRTD said (did I just say that? OMG I feel dirty) that there needs to be much tougher restrictions on buying a house. More credit and finance background checks meaning that if you can't afford it you won't be able to borrow the money.

[Queen Mum Inks.LWC]

Right. And I would think he would want to stay that way.

There's next to no chance that a poor like him can have a secure life, memphis. Or you either.  And anyway once he takes a job he'll be miserable, by definition everyone who toils is miserable.

That's not true - I love my job and enjoy working.

[Queen Mum Inks.LWC]

true irrational actors are rare. 

This is patently false. People make crazy decisions all the timme. You should get out more.

What may seem crazy to some can be rational to the actor.  If irrational actors actually made up a significant part of society, there'd be no point in pursuing education in economics or advertising.

[Torie]

Right. And I would think he would want to stay that way.

There's next to no chance that a poor like him can have a secure life, memphis. Or you either.  And anyway once he takes a job he'll be miserable, by definition everyone who toils is miserable.

That's not true - I love my job and enjoy working.

Yes, you have a false consciousness. You have been brainwashed by The Man into believing that misery is joy, and toil is self actualizing. Man, I think I ripped off 3 writers at once here.

[memphis]

true irrational actors are rare. 

This is patently false. People make crazy decisions all the timme. You should get out more.

What may seem crazy to some can be rational to the actor.  If irrational actors actually made up a significant part of society, there'd be no point in pursuing education in economics or advertising.

You need to have a chat with Don Draper. Adverrtising is the opposite of encouraging rational behavior. It's all about getting the sucker all wrapped up in an emotional attachment to a product he doesn't need. If he needed it, there'd be no point in wasting money on advertising. And economics is largely a fallacy because people are not rational. It tries to apply Newtonian laws and equations to emotional creatures. We are not a race of Vulcans. We are slaves to unreasonable neurotransmitters. And good advertisers and policymakers know this well and know how to exploit it.

[LastVoter]

true irrational actors are rare. 

This is patently false. People make crazy decisions all the timme. You should get out more.

What may seem crazy to some can be rational to the actor.  If irrational actors actually made up a significant part of society, there'd be no point in pursuing education in economics or advertising.

Advertising exists in part because of irrational actors.

[Fmr. Pres. Duke]

My point to BushOK is, it doesn't matter if he short sells his house or forecloses. It will have the same effect on his credit score. There is no "little ding" because he made all past payments. They don't care. The only difference in the two is, he will be spending his parents money to finance the short sale while spending much less for the foreclosure.

The real estate agent is just wanting to make a quick commission off him. Her statement that it will be minor compared to a foreclosure is false. I trust a high end agent over any agent who sells low income homes in Oklahoma.

[Queen Mum Inks.LWC]

Some advertising may receive benefits from irrational actors, but you cannot predict the results of advertising if you have a majority of your population as irrational actors.  Emotions can factor into a rational decision.  A truly irrational actor could see an ad one day and have one reaction while having a completely different reaction when seeing it another time.

[Queen Mum Inks.LWC]

My point to BushOK is, it doesn't matter if he short sells his house or forecloses. It will have the same effect on his credit score. There is no "little ding" because he made all past payments. They don't care. The only difference in the two is, he will be spending his parents money to finance the short sale while spending much less for the foreclosure.

The real estate agent is just wanting to make a quick commission off him. Her statement that it will be minor compared to a foreclosure is false. I trust a high end agent over any agent who sells low income homes in Oklahoma.

The first part is not true.  If he truly has good credit as he says (although I'm not sure what he defines as "good credit"), a foreclosure will have a worse impact on his credit score.

But you're right about the agent... I think she's misleading him in order to make a commission here.  Either that or he's misinterpreting what she's saying and putting in what he wants to believe.  Considering how he's twisted things in the past, I won't completely bash the agent here - she could be an upstanding person trying to do the right thing, and she just ended up with a client who's oblivious to everything.

[Joe Biden 2020]

My point to BushOK is, it doesn't matter if he short sells his house or forecloses. It will have the same effect on his credit score. There is no "little ding" because he made all past payments. They don't care. The only difference in the two is, he will be spending his parents money to finance the short sale while spending much less for the foreclosure.

The real estate agent is just wanting to make a quick commission off him. Her statement that it will be minor compared to a foreclosure is false. I trust a high end agent over any agent who sells low income homes in Oklahoma.

The first part is not true.  If he truly has good credit as he says (although I'm not sure what he defines as "good credit"), a foreclosure will have a worse impact on his credit score.

But you're right about the agent... I think she's misleading him in order to make a commission here.  Either that or he's misinterpreting what she's saying and putting in what he wants to believe.  Considering how he's twisted things in the past, I won't completely bash the agent here - she could be an upstanding person trying to do the right thing, and she just ended up with a client who's oblivious to everything.

From what I understand from other's who have limited knowledge is that a short sale, while damaging is not permanent.  A foreclosure, from what I've heard, inflicts irreparable damage to your credit.

[Fmr. Pres. Duke]

You may be right. I am just going off what I was told last night. I was curious and called my friend and she asked her dad about it. He said that a foreclosure, short sale or deed in leu of a foreclosure would all have about the same impact on a credit score. I guess "about" is the key word here. I am just trying to educate myself. We did look into buying property on short sale for investment purposes a few weeks ago, but I didn't know what that meant.

I do think the real estate agent is still trying to make it less of a deal than it is. I doubt BushOK's credit score is that stellar, and I still think in the long run, walking away from the house is a better move than a short sale. The agent just wants to make her commission and BushOK is being duped again.

[Јas]

Couldn't help thinking of Bushie when I heard this story.

[I spent the winter writing songs about getting better]

Couldn't help thinking of Bushie when I heard this story.

Why? You think Bushie would ever do that? This is a guy who gets terrified about driving 10 miles in one inch of snow.

[Torie]

My point to BushOK is, it doesn't matter if he short sells his house or forecloses. It will have the same effect on his credit score. There is no "little ding" because he made all past payments. They don't care. The only difference in the two is, he will be spending his parents money to finance the short sale while spending much less for the foreclosure.

The real estate agent is just wanting to make a quick commission off him. Her statement that it will be minor compared to a foreclosure is false. I trust a high end agent over any agent who sells low income homes in Oklahoma.

The first part is not true.  If he truly has good credit as he says (although I'm not sure what he defines as "good credit"), a foreclosure will have a worse impact on his credit score.

But you're right about the agent... I think she's misleading him in order to make a commission here.  Either that or he's misinterpreting what she's saying and putting in what he wants to believe.  Considering how he's twisted things in the past, I won't completely bash the agent here - she could be an upstanding person trying to do the right thing, and she just ended up with a client who's oblivious to everything.

From what I understand from other's who have limited knowledge is that a short sale, while damaging is not permanent.  A foreclosure, from what I've heard, inflicts irreparable damage to your credit.

There is no such thing as "irreparable damage" to your credit. They only weight what has happened over a fixed period in the past, not from the time your were in the womb. And creditors love folks just coming out of bankruptcy, because they have no debt. You listen to ignorants, so that is what you hear. Anyway, even if what you said were true, it is costing your parents about 5K.  

[Joe Biden 2020]

My point to BushOK is, it doesn't matter if he short sells his house or forecloses. It will have the same effect on his credit score. There is no "little ding" because he made all past payments. They don't care. The only difference in the two is, he will be spending his parents money to finance the short sale while spending much less for the foreclosure.

The real estate agent is just wanting to make a quick commission off him. Her statement that it will be minor compared to a foreclosure is false. I trust a high end agent over any agent who sells low income homes in Oklahoma.

The first part is not true.  If he truly has good credit as he says (although I'm not sure what he defines as "good credit"), a foreclosure will have a worse impact on his credit score.

But you're right about the agent... I think she's misleading him in order to make a commission here.  Either that or he's misinterpreting what she's saying and putting in what he wants to believe.  Considering how he's twisted things in the past, I won't completely bash the agent here - she could be an upstanding person trying to do the right thing, and she just ended up with a client who's oblivious to everything.

From what I understand from other's who have limited knowledge is that a short sale, while damaging is not permanent.  A foreclosure, from what I've heard, inflicts irreparable damage to your credit.

There is no such thing as "irreparable damage" to your credit. They only weight what has happened over a fixed period in the past, not from the time your were in the womb. And creditors love folks just coming out of bankruptcy, because they have no debt. You listen to ignorants, so that is what you hear. Anyway, even if what you said were true, it is costing your parents about 5K. 

Well, still, say a foreclosure is 7 years damage and a short sale is 3 years damage.  3 years is a heck of a lot better than 7 years.  Plus, most people would agree it would not be wise to sacrifice my credit for 7 years unnecessarily just so I can stop taking money from my parents.  My parents don't want to see my credit ruined for the vast majority of my 30's and we are not near that point, yet.

[Torie]

The thought of taking money from my parents (who could have easily afforded it while yours cannot I might add) for the sole reason of preserving my credit score, so I can borrow more money later, nausiates me. I would have let mine go to zero first. And poor planning, and poor decisions, got you in this position in the first place, but I digress. I just can't image how your conscience allows you to do this. What the F is wrong with you?

[memphis]

Credit issues are not binary! You're not shredded for x years and until you pass a fixed finish line. Things that are recent weigh more heavily and fade as time goes by. And you have no business making a large credit purchase like a home or car for the foreseeable future. For either, you need a track record of stable employment even more than a record of paying your bills. You're being stubborn for reasons of pride. You would feel better about yourself if you waste a few thousand dollars of your parents' money and commit fraud than simply walking away. Did I mention that you've already paid for privgate mortgtage insurance so the bank is not really out anything either? And whatever happenned with the A/C unit? Replaced? A buyer will want to know that.

[Queen Mum Inks.LWC]

My point to BushOK is, it doesn't matter if he short sells his house or forecloses. It will have the same effect on his credit score. There is no "little ding" because he made all past payments. They don't care. The only difference in the two is, he will be spending his parents money to finance the short sale while spending much less for the foreclosure.

The real estate agent is just wanting to make a quick commission off him. Her statement that it will be minor compared to a foreclosure is false. I trust a high end agent over any agent who sells low income homes in Oklahoma.

The first part is not true.  If he truly has good credit as he says (although I'm not sure what he defines as "good credit"), a foreclosure will have a worse impact on his credit score.

But you're right about the agent... I think she's misleading him in order to make a commission here.  Either that or he's misinterpreting what she's saying and putting in what he wants to believe.  Considering how he's twisted things in the past, I won't completely bash the agent here - she could be an upstanding person trying to do the right thing, and she just ended up with a client who's oblivious to everything.

From what I understand from other's who have limited knowledge is that a short sale, while damaging is not permanent.  A foreclosure, from what I've heard, inflicts irreparable damage to your credit.

There is no such thing as "irreparable damage" to your credit. They only weight what has happened over a fixed period in the past, not from the time your were in the womb. And creditors love folks just coming out of bankruptcy, because they have no debt. You listen to ignorants, so that is what you hear. Anyway, even if what you said were true, it is costing your parents about 5K. 

Well, still, say a foreclosure is 7 years damage and a short sale is 3 years damage.  3 years is a heck of a lot better than 7 years.  Plus, most people would agree it would not be wise to sacrifice my credit for 7 years unnecessarily just so I can stop taking money from my parents.  My parents don't want to see my credit ruined for the vast majority of my 30's and we are not near that point, yet.

Credit isn't like traffic ticket points where after so much time is up, it just disappears.  The report won't list "FORECLOSURE!" for life, but it's not like your credit score will bounce back after 7 years.  Plus, committing fraud will have a whole host of other potential consequences.  If you don't legitimately qualify for a short sale, don't do it.

[MasterJedi]

Bushie, I think one of the main problems people are having here is not that you're living at home while doing all this but not even really taking care of yourself and providing for yourself while you're there. If you at least had a job and were bringing in money and paying your own bills it wouldn't be bad.

You could do what I'm doing. I still live at home and I basically pay for everything. I pay my portion of the cell phone bill (still on a family plan), car insurance, health insurance, life insurance, car payment, etc.

What I'm not paying for is rent (the mortgage has been paid off for awhile now), food, or any of the utilities. Basically, they're not making me pay, can pay for everything comfortably and would be paying the same amount for everying if I was there or not and I'm covering all my expenses. Yes I've got it easy but I'm not mooching off them. It's saving me a ton of money and I'm actually planning and saving to move out and buy my own condo. I'm about a third of the way there I'd say. If you had that attitude and were actually willing to work hard I doubt you'd get slammed like you have been.

[Queen Mum Inks.LWC]

Bushie, I think one of the main problems people are having here is not that you're living at home while doing all this but not even really taking care of yourself and providing for yourself while you're there. If you at least had a job and were bringing in money and paying your own bills it wouldn't be bad.

You could do what I'm doing. I still live at home and I basically pay for everything. I pay my portion of the cell phone bill (still on a family plan), car insurance, health insurance, life insurance, car payment, etc.

What I'm not paying for is rent (the mortgage has been paid off for awhile now), food, or any of the utilities. Basically, they're not making me pay, can pay for everything comfortably and would be paying the same amount for everying if I was there or not and I'm covering all my expenses. Yes I've got it easy but I'm not mooching off them. It's saving me a ton of money and I'm actually planning and saving to move out and buy my own condo. I'm about a third of the way there I'd say. If you had that attitude and were actually willing to work hard I doubt you'd get slammed like you have been.

I'm in the same boat (although I don't have life insurance).  Although my car payment goes to them, since I borrowed money from them to pay for it, since the bank turned me down due to the car being too old.  But I'm still paying them interest... just like a regular loan that any other adult would take out.  (Plus, like MJ, I'm on the cell phone family plan, and now that Verizon killed unlimited data, I'll never leave, since I'm grandfathered in - but I still pay my part of it!)  And I pay for a fair amount of my own food, but not all of it.

I know college graduates whose parents still give them gas money, pay their insurance, and pay their phone bills... that's crazy.  You're in your 30s.  Grow up; pay your own expenses, minus rent and utilities (although this doesn't include cable if you're getting any fancy packages your parents didn't already have); and you should probably work on doing your own food, since that'd be a heck of a lot healthier.

How much money did your parents put into this house that you're trying to sell?

[opebo]

The thought of taking money from my parents (who could have easily afforded it while yours cannot I might add) for the sole reason of preserving my credit score, so I can borrow more money later, nausiates me. I would have let mine go to zero first. I just can't image how your conscience allows you to do this. What the F is wrong with you?

What's with the guilt trip, Torie?  Why shouldn't he utilize what resources are available to him?  It isn't like his parents provided him with a guaranteed-success ivy league education.

[MasterJedi]

Bushie, I think one of the main problems people are having here is not that you're living at home while doing all this but not even really taking care of yourself and providing for yourself while you're there. If you at least had a job and were bringing in money and paying your own bills it wouldn't be bad.

You could do what I'm doing. I still live at home and I basically pay for everything. I pay my portion of the cell phone bill (still on a family plan), car insurance, health insurance, life insurance, car payment, etc.

What I'm not paying for is rent (the mortgage has been paid off for awhile now), food, or any of the utilities. Basically, they're not making me pay, can pay for everything comfortably and would be paying the same amount for everying if I was there or not and I'm covering all my expenses. Yes I've got it easy but I'm not mooching off them. It's saving me a ton of money and I'm actually planning and saving to move out and buy my own condo. I'm about a third of the way there I'd say. If you had that attitude and were actually willing to work hard I doubt you'd get slammed like you have been.

I'm in the same boat (although I don't have life insurance).  Although my car payment goes to them, since I borrowed money from them to pay for it, since the bank turned me down due to the car being too old.  But I'm still paying them interest... just like a regular loan that any other adult would take out.  (Plus, like MJ, I'm on the cell phone family plan, and now that Verizon killed unlimited data, I'll never leave, since I'm grandfathered in - but I still pay my part of it!)  And I pay for a fair amount of my own food, but not all of it.

I know college graduates whose parents still give them gas money, pay their insurance, and pay their phone bills... that's crazy.  You're in your 30s.  Grow up; pay your own expenses, minus rent and utilities (although this doesn't include cable if you're getting any fancy packages your parents didn't already have); and you should probably work on doing your own food, since that'd be a heck of a lot healthier.

How much money did your parents put into this house that you're trying to sell?

They don't get any money for food from me. I don't ask for them to anything special and my mom always cooks for three anyways even when I was away at college so it's not like the expenses so I'm not going to pay them money for what they're going to be spending anyways.

[opebo]

Some advertising may receive benefits from irrational actors, but you cannot predict the results of advertising if you have a majority of your population as irrational actors.  Emotions can factor into a rational decision.  A truly irrational actor could see an ad one day and have one reaction while having a completely different reaction when seeing it another time.

I don't think predictability or regularity indicate rationality, Inks.  I mean, they might, but its not a given.  I've known lots of irrational people who always behave in the same irrational way.