Idiotic pandering film
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vilafire — 9 years ago(May 21, 2016 03:03 PM)
Here's my story FWIW. We were both working very good full-time jobs but when we went to sell our house our realtor accepted an offer below the value of our mortgage and that simple fact screwed us there on out. The bank kept sending letters like crazy but they wouldn't pick up the phone; the courts were very decisive though.
I know that's not the same as the movie or probably most people but I'm sure something similar has happened to many. -
MortimerSpice — 9 years ago(June 03, 2016 04:32 PM)
Same reason you think Conservatives want to hear bitching and moaning about how they are cold hearted, wealthy, racists. Same reason you think Conservatives want to hear Liberals apologizing to terrorists and thugs who desecrate this Country.apologizing to people and condoning people that are perfectly capable of work but instead look for a handout. Get the picture?
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lillygirl-40110 — 9 years ago(June 03, 2016 06:42 PM)
Remarkable erudite reply. Have you ever thought about joining the debate club?
My family and I own some (very humble) commercial and residential real estate, which we rent. Needless to say, we have expenses to pay related to these properties, mortgages, properties taxes, maintenance etc.
We try to be really good landlords.but when someone stops paying their rent we will visit them, try and see what is going on, and even reduce the rent if they have been good tenants, who have fallen on some short-term hard times.
Can we go our bank and say, "Oops, sorry we can't make our mortgage payment because our tenant Joe lost his job. Gee, can you cut us a breaK? His kid GREW UP IN THAT HOUSE!"
(That idiotic court scene was when I turned off this stupid movie.)
You can call it corporate greed, the cold-heartedness of bankers, but this is called called Capitalism. If you don't like it, I suggest you move to Venezuela. -
ThreeIn10 — 9 years ago(July 10, 2016 03:18 AM)
There are supposed to be regulations to prevent people from being taken advantage of and from making stupid mistakes, and to keep unscrupulous bankers (etc.) from doing things that help to create the giant clusterf* that happened in the late 2000s. Everyone who says that this is all the fault of people spending beyond their means need to get both a heart and a brain.
"Ask them when theyre spitting in your face as you walk them to the curb. Ask the banks why they gave them an adjustable rate mortgage. Ask the government why they lifted all regulations and turned a blind eye. You, the Tanners, the banks, Washington and every other homeowner and investor from here to China turned my life into evictions." Rick Carver -
ilykyu — 9 years ago(July 19, 2016 11:49 PM)
mmh, people with MBAs and master degrees in maths and economics and finance and actuarial science whose sole aim in life is to climb the show-off ladder vis a vis folks who dropped out in middle school but still trying their best to get bywhere should the weight of responsibility lie? Dear me, Such a mind bending question
"what is your major malfunction numbnuts?!!" -
LilyDaleLady — 9 years ago(July 30, 2016 02:48 PM)
I do feel sorry for people but this film was unrealistic in the extreme, and shoed very atypical examples of the housing/foreclosure crisis..it was slanted and devious in how it presented material.
There were definitely people who got cheated, but the VAST MAJORITY of those foreclosed on, simply could not keep up their mortgages. MANY of these were unfavorable ARM mortgages (adjustable rate) with low teaser rates, that people accepted EITHER to buy a much more costly house than their income could support OR because they wanted to "pull money out" to buy expensive extras (new cars, remodeling projects, trips, pay off credit cards etc.).
As some have said here: your house is not a piggy bank for you to continually dip into, to support a lifestyle you cannot afford.
SO many things were left out here. I lived in Orlando from 2001-2004, and the biggest thing was the HUGE rise in real estate prices a bubble, that was unsupportable by real values or ordinary incomes. A $120K ordinary house was suddenly $350K! A $150K condo was suddenly $600K! These are real examples not from media or stores or hearsay, but from MY ACTUAL FAMILY MEMBERS IN CENTRAL FLORIDA. They were bragging about the huge wealth (on paper) that they suddenly had. It made them quite giddy. Some made poor financial decisions as a result but were lucky. None of my relatives were foreclosed on, though some ended up losing a great deal of that "paper value" in the crash.
What disturbed me most in the film was the idea expressed by several characters and apparently the beliefs of the filmmakers (who oddly, seem to be mostly of Indian South Asian descent) that if you buy a house (with a big mortgage!) and you fail to make payments on that home, it is still "yours" by some higher moral right. You can ignore eviction notices and pull a gun on the police, and it is all OK because you own the home not by paying the mortgage but by a moral right that assigns you a PARTICULAR specific home (and you can never sell, buy another house, or "move up" to a larger home). -
WanderingGriz — 9 years ago(August 05, 2016 11:30 AM)
Indeed. As I have said on other threads, I personally knew people who would gleefully announce that they were qualifying for loans well above their pay grades, finding it even more hilarious that they were able to lie on the mortgage apps and weren't called on it. They refused to listen to my warnings, and then found it wasn't funny at all when the bottom fell out of the market, leaving those who planned properly and conservatively to pay their mortgages. Meanwhile, the kid in this film learns nothing as he runs out to spend all the money he's making on that ridiculous house. As you said, lilly, idiotic pandering film.
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andyd-1 — 9 years ago(September 26, 2016 01:29 AM)
That particular aspect of human behaviour was a factor in the problem, people have made easy money the way you describe, and it's natural that other people tend to copy the successful plan adopted by others.
He was a typical young hardworking person, he had borrowed money to fund his business, the market crash was making it hard for him, then he lost his job and didn't even get paid for work he'd done.
The whole thing was a scam orchestrated by high level bankers, economists and political lobbyists. The aim was to cause a crash that was so big that gigantic insurers would have to pay out on insured loans. The loans had been insured multiple times, so in effect massive bets has been placed on failure of the mortgage market - and yes, we stood back whilst governments rushed to bail out these people. -
daniel4242 — 9 years ago(November 22, 2016 06:25 PM)
Thank you. I came to post the same thought on these message boards. Well acted, yes. A good drama, yes. But in anyway based on reality, no! It's frustrating that a movie like this can come out and it can be passed off as accurate economic commentary on those "evil banks" and us innocent, good "common folk" caught up in the cross fire. This and the Big Short. Hollywood will always pat themselves on the back for schilling movies that emotionally twist viewers into supporting their values. Please get off our side. Aren't many of them supposed to be moving to Canada now that Trump won?
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compact_disc_rack — 9 years ago(November 26, 2016 06:52 AM)
I have a socialist background and live in Sweden.
My take is the big bankers are disgusting, but that doesn't automatically make everyone a victim.
I felt sorry for the way in which they kicked Nash out of his house because he honestly thought he had 30 days on him to try fix the deal.
However, I couldn't feel that sorry for the bearded guy at the motel who blamed everything on Nash as if the world owes him a house. And the Greene guy took it too far as well.
I rent my apartment and a lot of people always ask me why I don't buy one as an investment, as if there is no risk in that. As if I - a person who knows very very little about the financial world and real estate law - shouldn't feel any hesitation taking on such a heavy economic responsibility.
If I can't find a job, then I'm supposed to think "hey, life's not fair".
But if I take a loan and buy a house, then I'm a victim when beep turns bad?
The reason I mention I have a socialist background is to point out that you don't have to be right wing to be "cold-hearted" in this matter.
The fat bearded guy most likely believes in the system and couldn't give a damn about my finance, so why should I care about his?
Why should I feel sorry for him while I know there are millions of ppl growing up renting modest apartments in rough areas?
Having the house and car dream in nice neighbourhood is a vision some people have, not a RIGHT.
So, yes, the whole thing was brought about thanks to greedy bankers who wanted to screw both the government and the average family, and it's VERY unjust that they could go free while a lot of people's lives were ruined. But THIS doesn't automatically mean every home owner was a victim. -