Cramer on BloggingStocks: Memo puts mortgage pain in stark perspective

Jim Cramer
I am trying to make money on other stocks but couldnt because Big Oil sucks up all the loose dollars around everyday from sunrise to sunset!!!
We can just carpool , call our insurance agents and say to them that we are driving less mileage because of carpooling and get discount on premiums. We will save a lot of money to keep up with our sub prime mortgages.
Americans are dinosuars and unable to adapt to changes in our economy. Yes we are stupid in our economy!!! Very s t u p i d !!!!! !!!!! !!!!! Soggy assed stupid Americans we are!!

Jim Cramer
You are barking up and down on those numbers. Our economy is nto run by our stock market....Our economy is run by freedom of choices... Americans are perfectly free to screw Big Oil and bridge toll booth agents!! Lets begin carpooling and start savin' dollars and savin' our houses right now!!!
You can step back from your Mad Money show offs and get into the under currents of issues. You can stay on the top of things the whole time. We have sewage pipes under our cities and we have to keep it cleared up or we will get clogged up, right? This is the same thing with stock market. There is sewage pipes under stock market and it is already clogged up and retch of shits and piss and whatnots,, get to work don your deep boots and push the shits out the oultets now...

Not sure how your source concludes that the DC and suburban VA/MD areas were "undesirable"...I moved from there a couple of years ago and it was/is a very pricey market.

I've never heard such dumb comments. You guys have no idea the way our financial system works. It's time you learned. Check out the blog to learn what the deal is with subprime:

www.subprimeinsight.com

The equity markets are a small bit of our financial landscape and perform well when capital is not restricted. However, it is today. Furthermore, the BIGGER more efficient markets are collapsing. Those effect the economy. The stock market then responds.

Cramer is right about housing. Go buy a condo in Miami. How much should you pay for it? Trust your broker to tell you how much its worth. He'll TELL you (sell you). Housing markets are oversupplied. That means prices are falling. Why buy at $525,000 when the price was $600,000 a year ago and the prices likely will keep declining? Banks will move their inventories by "quick sale" pricing (discounting enough to sell within a short period). Those foreclosures drag the market down until the inventories dry up? Some markets have years of inventory at this buying pace. Do the numbers. The cost of food, oil, etc. aren't cheaper or operating the same. How do you fix stag-flation?

I'm no genius but I am in the business and it's been my experience that when the Fed lowers prime, mortgage rates mostly tend to go up. Lowering prime again, especially when inflation is now an acknowledged concern, seems likely to spook the bond market which will end up raising mortgage rates. Our mortgage rates have gone from 5.75 to 6.50 in 3 weeks - explain to me how lowereing prime again will help that? And if people can't lower their monthly payments with a refinance or purchase a new home, lowering prime to zero isn't going to make any difference.
Just my 2 cents.

THe whole thing is greed bank are not loosing money it just profit they thought they so have made of people buying home they want 2half time the loan pay back that nut !!!!!!!!!!!!!!! all we have to do set set mortgage and max 4% and life would go on it came a time that they HAVE MAX OUT there PROFIT that people can pay them and far as EXXON they run the GOVT if they cant make 500% profit they stop making gas FACT and we over in the sandbox getting kill for them HUM!!!!!!!!!!!!!!!! just so a few can get rich

THe whole thing is greed bank are not loosing money it just profit they thought they so have made of people buying home they want 2half time the loan pay back that nut !!!!!!!!!!!!!!! all we have to do set set mortgage and max 4% and life would go on it came a time that they HAVE MAX OUT there PROFIT that people can pay them and far as EXXON they run the GOVT if they cant make 500% profit they stop making gas FACT and we over in the sandbox getting kill for them HUM!!!!!!!!!!!!!!!! just so a few can get rich

the higher the highs the lower the lows. This country has been on a equity induced financial run since 02 and the pain begins.

The USA is in a terrible state but let's put the blame where it goes (people) GREED, SELFISHNESS, and IGNORANCE on all people's part. First of all people want bigger or better instead of living with what’s affordable. Also educate yourself before purchasing anything. Secondly persecute those who are misleading the people they are fraudulent they need to go to jail, lose their jobs and their licenses. Thirdly California needs rent control it’s a shame working people can’t afford an apartment without a roommate. Fourth American citizens haven't seen the worst yet until we as a people change our wicked ways from hate, selfishness, and greed. Change begins with self, loving yourself and others as you love yourself and the world would be a better place for all. Finally there is no one man or woman (black or white) who can save this world so stop relying wholly on a president they can't solve all the worlds problems look at all the past ones we've had (white males) so leave Obama alone he can't do no worst then past presidents already have. Just remember change begins with one self. Signed sick and tired of foolishness.

FICO, what a scam.... I just proved that a company frauded me, saying I owed them money I not only already paid them prior to it going to collections, but that my health insurance was fully responible to begin with and pay... Doesn't change the fact that while I was trying to prove my innocense, my score went from 7, to low 5s... now after 20 years in our business, 6 years in our home... we are finally pushed out. WE DON'T have bad credit, but tell FAIR ISSAC that. The Feds can have their new found HUD homes that basically steal from us, those people don't need to worry about FICO, to them it's free. B of A, and Countrywide, are also scammers. They get bailed out, and after 20 years with them reject our small business loan, lol. Make room for more freaks in California, those who were born here are being pushed aside to widen the room for more free housing for the Spanish speaking population, and other illegals. Good for them, let them carry our cross for awhile. FICO, what a joke, they can lower your score in error but can't replace it? LOL, give it up to the machine, she's a beast, lol. WOW

I called all 3 credit unions, FICO, SS, FDC, BBB even the Attorney General, None of them had any information on how to get this FRAUD removed from my FICO score, those I had proof from 3 companies which supported the fact the collection that appeared unpaid, that caused my FICO to lower from 7 to 5 over the past 6 months. HOW is this? These same computer programs they say have a mind of their own are also running your life, tallying your VOTES, (another joke), I say use the 2nd Amendment & shoot these F-in computers that have overthrown our Goverenment & start over, lol. HAIL to the age of the Big Computer excuse, heeeee. Oh & F people like this greek who can explain away the reasons why it's okay to lose your ID, and or credit inside a data base that no one seems to be able to correct the glitch in. You all have a good day, and don't let the machine eat your Cheetos or babysit yer kids, lol Yaaaaa. BIG HUGS

Thanks for you insight Jim. I own property im Las Vegas. Rental Income.

David

Republicans cause resession! Every time they get in office they do it. Or within a year of leaving office because of thier political finance desicions.

all americans are slaves to the debt holders. this country is in too much debt, and the mortgage insurers understand this. why loan money to someone who cant pay it back? our country owes trillions of dollars to china through US govt bonds. we are going bankrupt and we need to stop giving away billions of dollars to foreign countries and to people in our own country. we give billions to Africa for AIDS while our great-grand-kids will be born as a slave to China as debtors.

Make your mortgage payment. How bout that? Stop blaming others. Don't buy over your head and make your payments. Do this and there are no problems.