To those pilots who own a house

[jetracer5]

I'm not talking about those who have lost their jobs. I'm sorry for all that lose their jobs. I am talking about those that buy houses they really can't afford, only to go crying to the government when things take a turn and they can't afford that giant house anymore. I stick with my previous statement, if you can pay for the house, pay it. Don't make the rest of us pay for your house, just so you can have $100 more beer money every month. Those that have been furloughed or downgraded, sorry that's a tough spot to be in.

Yea its like that school teacher that bought a $800,000 house off of 30K a year????? Yea not to happy to help those people

 

[jetracer5]

They only reduced my payment from 1350 to 1066 for the 3 month trial.....

If your a F/O that sounds about right. But the trick to the program is to set it up when your not getting summer flight hours. I can prove now that I went from working 90+ hrs month to only getting my 75hrs or less. $4000 month to 2,800 month. So they will base it off the 2,800 month.

 

[ATRCA]

I'm not talking about those who have lost their jobs. I'm sorry for all that lose their jobs. I am talking about those that buy houses they really can't afford, only to go crying to the government when things take a turn and they can't afford that giant house anymore. I stick with my previous statement, if you can pay for the house, pay it. Don't make the rest of us pay for your house, just so you can have $100 more beer money every month. Those that have been furloughed or downgraded, sorry that's a tough spot to be in.

"the rest of us" will pay either way. If the bank takes over the property they will cover their losses with their remaining customers via fees and other BS charges. If the bank is unable to cover this loss they will be given tax payer funds to not only cover their banking losses but their CEO pay, renovations, etc. I'd rather help someone keep their home than give more money to poorly over leveraged banks with little or no oversight.......

 

[andyd]

In addition to the above, if you've taken that big of a pay hit Ch 13 may also be an option. Based on your income and ability to re-pay....keep your house, keep your car and walk from the credit card thieves charging 29%. If corp america INCLUDING the airlines who've cut our pay.....all the while giving themselves huge bonuses with OUR tarp money/pay synergies can take the companies that are shaking us down for $$$ into BK, then why not Joe Citizen?....IF you qualify do yourself a favor and at least consult with a lawyer about Ch 13. If you're furloughed you should have already filed Ch 7, under most conditions you can keep your home under the homestead act even in a Ch 7 filing and keep 1 car. If you have more than one car any transfer's of asset's to friends must take place 3 or more months prior to filing a Ch 7 and transfer's of property between family members must take place 12 months prior to filing Ch 7. In addition you are allowed to exempt $9000 in cash.

 

[79%N1]

31% net or gross?

 

[BoilerUP]

This thread is a great example of why airline pilots should REALLY base their financial budget off their guarantee and not some higher credit amount.

 

[piav8r]

Oh good, Now I get to pay your mortgage too! If you can afford your home, just pay it. You're the one who bought the house with the mortgage terms, now live with it, or sell it!

If this was directed at me quite frankly KCUF YOU! You have no idea the level of personal hell that I have been through in the past 4 years where I have watched what I personally built, get taken apart by greed from higher up, only to lose over 60% of my income from things that I no longer could control, and then get laid off. At which point I returned to the airlines (hence the 60% loss in pay) To top it off ACE HOLE, I tried to sell my home which thanks to the housing economy failure is now worth half of what I built it for taking into account that I built it myself... that's right myself, read sweat equity you prick.

If it wasn't directed at me, my appologies, and rant off...

 

[jetracer5]

31% net or gross?

31% Gross

 

[FirstMate]

If your like me and own a house and are starting to see your pay checks get even smaller this winter or you are on the street or just got downgraded call the bank you have your loan through and tell them you want Obama to pay for your house through the "Making home affordable plan" You just have to prove you are taking a loss of income. Say going from 90+hrs month to 75hrs or less works. They will force your lender to make your total monthly payment including escrow's no more then 31% of your income. My payment went from 1,785 to $930! This payment is locked in for 5 years. Just thought I would pass this along to help out other pilots Atrying to maximize there income! Sorry for posting usefull infomation! haha

http://makinghomeaffordable.gov/

Why did you buy a home/property that was nearly $2000 a month to begin with when you clearly could not afford it should you have to go back to a minimum guarantee paycheck? Now, the rest of the US taxpayers take the brunt of this - along with medicaid, welfare, and every other easy out program that is out there.

 

[buscap]

Redistribution of money, that's all. Like Spock said, ''The needs of the many...blah blah blah...''

And by the way, the definition of a liberal is either A. one who has never earned a dime or B. someone who has earned or inherited so much, they don't give a crap what the IRS takes!!