Understanding the Issues: Education

[Schneed10]

Originally Posted by onlydarksets

But there's no difference between your scenario and someone who grew up without any guidance and made a bad choice, but who now wants help establishing the very environment you and I were lucky enough to have as youths.

We keep talking about needing guidance in order to make decisions.

Aren't most decisions made with basic common sense? How much guidance do you need for that? That's my whole thing here, how much do parents REALLY affect your upbringing? Plenty, I'm not saying it plays no role, but it doesn't play a big enough that it excuses away a lack of common sense.

If you go into a lender, and they tell you you're going to have an adjustable rate mortgage and your payment will be $500 a month for a $300,000 house, shouldn't a red flag be going up in your head? You mean to tell me you need a good home and a good upbringing to be able to tell when something seems too good to be true?

When someone tells you $500 payment on a $300,000 house, your first question should be OK what's the catch? If they say no catch, you have a legal case.

You don't have to know financing or know how real estate works. But you should be able to follow your nose when you smell something rotten. And at the very least, you should be able to ask "How is it possible for me to pay $500 a month on a $300,000 house?" Ask the basic questions until you understand it, even if they seem stupid. If you can't understand how it works on a basic level, then you shouldn't be making that deal. Isn't that just basic common sense/street smarts? I don't think you need a tremendous support system to exercise common sense and decent judgment.

[saden1]

Originally Posted by Schneed10

We keep talking about needing guidance in order to make decisions.

Aren't most decisions made with basic common sense? How much guidance do you need for that? That's my whole thing here, how much do parents REALLY affect your upbringing? Plenty, I'm not saying it plays no role, but it doesn't play a big enough that it excuses away a lack of common sense.

If you go into a lender, and they tell you you're going to have an adjustable rate mortgage and your payment will be $500 a month for a $300,000 house, shouldn't a red flag be going up in your head? You mean to tell me you need a good home and a good upbringing to be able to tell when something seems too good to be true?

When someone tells you $500 payment on a $300,000 house, your first question should be OK what's the catch? If they say no catch, you have a legal case.

You don't have to know financing or know how real estate works. But you should be able to follow your nose when you smell something rotten. And at the very least, you should be able to ask "How is it possible for me to pay $500 a month on a $300,000 house?" Ask the basic questions until you understand it, even if they seem stupid. If you can't understand how it works on a basic level, then you shouldn't be making that deal. Isn't that just basic common sense/street smarts? I don't think you need a tremendous support system to exercise common sense and decent judgment.

Not everyone is like you or as smart as you. No one really knows what percentage were duped by lenders and what percentage knew what they were getting into. What you can't do is tell me all of them are f*ck'ups.

[Schneed10]

Originally Posted by saden1

Not everyone is like you or as smart as you. No one really knows what percentage were duped by lenders and what percentage knew what they were getting into. What you can't do is tell me all of them are f*ck'ups.

Ones who were victims of criminal behavior, no, definitely not fuck-ups.

Ones who weren't, I can't call them fuck-ups because lenders still behaved unscrupulously. But they still could have done more to protect themselves.