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The worst financial decision I ever made..(2)

Posted by andriantoangkadirjo85 on March 30, 2011

Here’s just another stories about people made bad decisions, got tricked by the bank, got screwed by another people and last but not the least ..the trap of doing bad business ..all of which lead to ruefulness, bitterness, sadness, poverty & jail.

Medino, Mon Mar 21, 2011.

IT’S NOT JUST A STORY.I PURCHASED A HOME WITH MRARGINAL CREDIT IN FLORIDA IN 2004 $95.000.GREAT 4/2 CORNER LOT,WITH 1/4 ACRE.PUT IN AN ABOVE GROUND POOL,CIRCULAR DRIVE WAY,MADE A 24X15 COVERED PORCH,6FT,].PRIVACY FENCE ALL AROUND.WAS APPRAISED AT $225.000.WAS APPRAISED FOR $225.000 IN 2010.REFINACED AND GOT $45.000 OUT.SAVED IT,BUT MY PAYMENT WENT FROM $910.00 TO $1963.00.I NOT ONLY GOT TRICKED I COULDN’T AFFORD IT.THEN THE MARKET FELL AND THE HOUSE DROPPED TO $125.000.NOW I OWED $145.000.I COULDN’T PAY.SO I TOOK THE CASH AND BOUGHT A RENTAL BEFORE MY CREDIT GOT DAMAGED.THEY FORECLOSED MY HOUSE AND SOLD IT TO WELLS FARGO ACCORDING TO THEM FOR$100.00.NOW THEY WANT ME TO PAY THEM $143.000.GOOD LUCK COLLECTING THAT.THEY ARE SO MANY HOUSES IN BANK SURPLUS THAT IN 2 YEARS THEY WILL GIVE LOANS TO ANYBODY JUST SO THEY DON’T HAVE TO PAY ALL THE PROPERTY TAXES.MARK MY WORDS.

ED, Mon Mar 21, 2011.

I totally understand this guy’s problem, but dude please don’t blame it on your wife, even if it was her idea.
I’m struggling big time to pay my morgage everymonth, my income is pretty unstable right now, construction is my job, you can imagine, I bought my house in 2002 for $320 000 right now because bad decisions now we owed $501 000, pretty stupid ha, at this point I want to get rid of this nightmare. But NO instead I gonna continue until god know’s what, this is what I did, knowing that I never EVER going to pay off my house in my life time, I bought life insurance, YEAH don’t be a selfish, so when I die my wife and my two doughters can enjoy the house plus extra money to survive for a few good years, so c’mon life is a waiting room and my turn it’s just around the corner. This is the difference between renting and buying, THINK ABOUT YOUR SON !

Susanna Wilson, 70

“I can never retire,” she said, her voice trembling as she stared at the floor of her living room in Grass Valley, Calif. “Probably about every two weeks when the bills are due, that’s when I get really worried. I think ‘How am I going to pay this one?’ ” It should never have come to this. In her 40s, Ms. Wilson moved to California and became a publicist. At her peak, she made around $65,000 a year, she said, and not a penny of that made its way into a retirement fund. “One thing kind of led to another,” Ms. Wilson said. “I’ve always put all my money into my businesses. And I always thought the business I was in was going to be a great success.”

Now twice divorced and living alone with her Shetland Sheepdog, Rooney, Ms. Wilson subsists on those government checks, plus a one-day-a-week job at a local jewelry store that pays $12.50 an hour. She received no alimony from either divorce. Ms. Wilson also makes little girls’ dresses under her O’Susanna label, at a vintage Singer Featherweight sewing machine in her dining room. But she sells only about six a month for around $200.

Ms. Wilson would probably manage on her current income, though not without sacrifice, were it not for the debt she had accumulated. All told, she averages about $1,400 in monthly income, including Social Security (adjusted for one of her former husbands’ earnings). A third of that goes toward fixed expenses like utilities. She pays $300 toward a mortgage balance of $5,477. She inherited the house, fully paid off, from her parents, but took out the mortgage a few years ago to pay for repairs.

The balance of her income goes toward the monthly minimum payments on $9,000 in credit card debt, racked up for daily living expenses. “I think I might just have to declare bankruptcy,” she said. “I just can’t live with that.”

Cheryl A,

I’m gonna be in the same position that she’s in.. I’m 59 and have been single for 20 years. I raised 2 children by selling cars and am still in the car business. My 2nd husband owes $130,000 in back child-support that I’ll never see, and my brother screwed me out of my half of my parents’ estate to the tune of $200,000. I’m just making enough to get by and will have to try to live on social security when I retire unless something drastic changes financial-wise. I don’t own a home and my credit is not good at all, so I’m pretty much screwed — No golden years for me!

– Putra Nevo

In his 40’s, Putra Nevo is a successfull professional. As a President Director of a company, PT. MASARO RADIOCOM, this might be his best season of life. But as usual, PEOPLE not always AWARE.. Doing the business as usual, customer services, find big order, make great profit for the company…ONE THING KIND OF LED TO ANOTHER.. Now he was charged as a corruptor by the judicial court and sentenced 6 years to prison plus fined IDR. 200million subsidiary 4 months in prison. He also ordered to amends the country’s financial loss around IDR. 89.3 billion instead of 2 years more in prison. WHAT A VERDICT!!! How’s that thing could be? Yes, he was proved guilty by mark up the price in accordance of procurement of radio communication device in forestry ministry, which caused country’s financial loss total IDR. 89.3 billion.He also made some briberies to the authority person in forestry ministry. Surely, he wasn’t aware that time, no one warned him because this is how the business ran.. and suddenly…BOOM..BOOM…tragic..

andriantoangkadirjo85 bottom line

Got tricked by the bank, bad decision caused of lack of wisdom & understanding, greedy (always put all the money in business & thought the business was going to be a great success) & doing ‘black business‘ will certainly jeopardize our financial & life.

– There are so many wicked things out there, waiting for us. Many bad things can happen & surely it differs for each person..so the best thing is always BEWARE..BEWARE…

Okay, what do you think ? It seems to me more many bad things will resurrect for the times ahead.

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2 Responses to “The worst financial decision I ever made..(2)”

  1. are you on linkedin?

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