Herman and Helens

Typical story...

New buyer, over-extended, without enough cash.

It is amazing that some folks that claim to know it all can take a well established, thriving business and turn it into wasteland in a very short time.

We see that over and over again here in the Delta... [:-boggled]
 
Awfully tough, are you? The guy bought H & H Marina and had a loan in the last stages of approval when the financial crisis hit and his loan application was frozen. He's been hanging in there ever since hoping to get the loan. I guess Obama prefers to hand out stimulus money to to Union Workers and not small businesses who create most of the jobs.

I think the guy had poor timing, like many of us did, not poor judgment.
 
Maybe he should have tried to buy a cheaper marina??? One within his budget. ;)

You know.... Like most of the home buyers that are in trouble right now should have purchased homes that fit into their budget, rather than rely on make-shift financing schemes to allow them to purchase homes that they really couldn't afford.

No one needed a crystal ball to figure out that it was insane to take out an ARM interest only loan when interest rates were at an all-time low. Which direction did interest rates have to go??? A 5th grader could have figured that one out...

The current times have nothing to do with spending within a persons means. If folks would have done more of that in the first place, the country might not be in the situation that we are in right now.

Judgement? FAIL.
 
quote:
Originally posted by Flutterby

Awfully tough, are you? The guy bought H & H Marina and had a loan in the last stages of approval when the financial crisis hit and his loan application was frozen. He's been hanging in there ever since hoping to get the loan. I guess Obama prefers to hand out stimulus money to to Union Workers and not small businesses who create most of the jobs.

I think the guy had poor timing, like many of us did, not poor judgment.

Click to expand...
And Bush crashed the economy in '08, not Obama.
 
A big amen to that.....although this isn't the forum for non-water related politics I suppose

DBH
 
There's plenty of blame to go around with the economy. Neither party has a monopoly there. Much of the banking deregulation and push for home ownership that fueled this mess happened before Bush was in office. I'm a lot more worried in the long run about what's happening with national debt than anything that has happened in the last few years. Projections of where it it headed over the next 10 years are eye-opening to say the least. Entitlements are great until somebody has to pay for them.
 
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