East Side High rough.....LMAO. That's probably the safest of all Newark's Public Schools. Be thankful you didn't go to West Side or Shabazz or....BARRINGER. (My dad would never have allowed that....I would probably be dead or stupid).

Well sorry for jacking the thread. To sorta bring this back to the spirit of the original thread, have there been any foreclosures in your area that you may know of either through websites like Zillow? The value of my house just recently went above my mortgage amount....lmao. (But not by much).

My bad, I actually had a really busy weekend last week (with it being Portugal Day WE in Newark lol)... Had lots of family hear from Portugal and other places for the feast lol...

I just checked out Zillow and would you believe that mine was the cheapest house in the neighborhood? Everyone else's sold for 37K more and above lol...

Wow, too funny... I do know that house....lol

Kean? Of all places you pick Kean? lol jk... Good school, 2 of my cousins live right behind on Summit Road... I went to Catholic school for the majority too (until I got kicked out of St Patricks). Than my parents, in an effort to teach me a lesson, said "well, since you obviously don't want to stay in school that we pay for. Than we are sending you to public school." And off I went to East Side High (it was tough). But made a lot of good friends in Newark that I still keep in contact with. I agree, the chops in Ironbound are definitely diminishing away (we are spreading out all over North Jersey)... Yes, Portugal Day weekend is over... But, I haven't really participated in the festivities for about 3 years (gets to ghetto and there's always fights and cops everywhere lol)....

East Side High rough.....LMAO. That's probably the safest of all Newark's Public Schools. Be thankful you didn't go to West Side or Shabazz or....BARRINGER. (My dad would never have allowed that....I would probably be dead or stupid).

Well sorry for jacking the thread. To sorta bring this back to the spirit of the original thread, have there been any foreclosures in your area that you may know of either through websites like Zillow? The value of my house just recently went above my mortgage amount....lmao. (But not by much).

Then you had to have known about the fraternity house above that pizzeria that is two houses away from Wachovia (though when I was there, First Union). I was there from 97-2000. Then lived on Pennington St before that briefly, as I went to school at Kean. I'm from North Newark, so I'm very familiar with Kearny. And of course, I have been to the Portugese Feast, which by my count should be this past weekend....(I stopped going Sangria and I can't mix...LMAO). I went to Catholic school myself, and like you, don't care for the public school system (even in a good area, because those school systems only care about SATs and grades...not the discipline a child will have instilled. Even a bad apple who makes it through a Catholic school can use that discipline for some guidance to make it in life).

So you must also know that the Ironbound is heading for a decline of your Portchop brethren. (I say that with love btw...) Though the Brazilian women taking it over....well, I'm not going to complain. LMAO.

Yeah, Old Bridge is decent. Not too rich, not too poor just dead smack in the middle, like me.

Wow, too funny... I do know that house....lol

Kean? Of all places you pick Kean? lol jk... Good school, 2 of my cousins live right behind on Summit Road... I went to Catholic school for the majority too (until I got kicked out of St Patricks). Than my parents, in an effort to teach me a lesson, said "well, since you obviously don't want to stay in school that we pay for. Than we are sending you to public school." And off I went to East Side High (it was tough). But made a lot of good friends in Newark that I still keep in contact with. I agree, the chops in Ironbound are definitely diminishing away (we are spreading out all over North Jersey)... Yes, Portugal Day weekend is over... But, I haven't really participated in the festivities for about 3 years (gets to ghetto and there's always fights and cops everywhere lol)....

Dude, I swear to god your stalking me....lol....jk... We really are neighbors, I spent most of my life growing up on Sheridan Avenue... no lie... my grandmother owned the house and we lived their for 11 years after she moved back to Portugal and my father rented out the 2 other apartments for her....

Old Bridge is a very nice area, I have to admit.... Very nice step up from Newark, Elizabeth and Jersey City....

I have lived in Elizabeth, to Kearny, to Roselle Park and back to Elizabeth.... And I too am very familiar with Jersey... People can say what they want, but once your born their its tough to ever leave lol....

Then you had to have known about the fraternity house above that pizzeria that is two houses away from Wachovia (though when I was there, First Union). I was there from 97-2000. Then lived on Pennington St before that briefly, as I went to school at Kean. I'm from North Newark, so I'm very familiar with Kearny. And of course, I have been to the Portugese Feast, which by my count should be this past weekend....(I stopped going Sangria and I can't mix...LMAO). I went to Catholic school myself, and like you, don't care for the public school system (even in a good area, because those school systems only care about SATs and grades...not the discipline a child will have instilled. Even a bad apple who makes it through a Catholic school can use that discipline for some guidance to make it in life).

So you must also know that the Ironbound is heading for a decline of your Portchop brethren. (I say that with love btw...) Though the Brazilian women taking it over....well, I'm not going to complain. LMAO.

Yeah, Old Bridge is decent. Not too rich, not too poor just dead smack in the middle, like me.

LOL...I wanna know where the Portugese are in Jersey City? The area I lived in Elizabeth, come to think of it, was full of both Spanish (real Spanish, as in from Spain, not Hispanics, like me) and Portugese (Sheridan Ave...in fact I was right across the island that is across the Stop and Shop on Newark Ave). I'm in Old Bridge...no where near New Brunswick and Piscataway. You would think I'm not that far, but the only real way for me to get there is the Turnpike. Route 35 to 18 is actually a lot LONGER, and there really is no need for me to go in that area, ever. (I stopped chasing the Rutgers chicks a lonnnnnnng time ago...especially when I met my DF).

PortChops....man that term does get around....I remember hearing it a lot in grammar and high school. But man Elizabeth provided me with MANY a fun time.....in fact, it was at Kean where I performed my first (and last) cash advance for a fake ID. That fake ID would provide me with adventures....i would have had to wait until I was your age when I turned it....because if I didn't have it, I wouldn't have had the same friends/brothers being with me at 21. By the time I turned 21, the scene would get old.....in fact I would stop getting carded...lmao.

But no, Jersey is one place I am definitely familiar with. If I haven't been to that small town, I probably been to its nearest city. But the places I've lived in were Newark, Elizabeth, Jersey City, Newark again (for a brief 3 years) then finally Old Bridge. Elizabeth and Jersey City were my faves and Greenville/Lafayette (Ihop on 440) is definitely safe. Caucasians still live there, plus a number of Filipinos and Hispanics. I don't care about ethinicity though...only Americans, sans the label. LOL.

Dude, I swear to god your stalking me....lol....jk... We really are neighbors, I spent most of my life growing up on Sheridan Avenue... no lie... my grandmother owned the house and we lived their for 11 years after she moved back to Portugal and my father rented out the 2 other apartments for her....

Old Bridge is a very nice area, I have to admit.... Very nice step up from Newark, Elizabeth and Jersey City....

I have lived in Elizabeth, to Kearny, to Roselle Park and back to Elizabeth.... And I too am very familiar with Jersey... People can say what they want, but once your born their its tough to ever leave lol....

I lived in E-town for 3 years partying with my fraternity brothers before I got my own Apartment in Jersey City (the good part...LOL). Now my DF an I live in Middlesex County in a decent ranch. I lived closer to the Elmora section of Elizabeth than the port. quote]

Where's the good part of Jersey City again?? JK, I have friends that live there and downtown has really changed a lot... You realize we were probably neighbors for a while since I have friends and family that live Elmora Ave and I used to hang out there a lot....

And I hope you live in a nice section of Middlesex County, because I have cousins from Piscataway and its really just a short step from Newark....lol... You wouldn't happen to be Portuguese would you? You seem to have lived in many different chop neighborhoods lol....

LOL...I wanna know where the Portugese are in Jersey City? The area I lived in Elizabeth, come to think of it, was full of both Spanish (real Spanish, as in from Spain, not Hispanics, like me) and Portugese (Sheridan Ave...in fact I was right across the island that is across the Stop and Shop on Newark Ave). I'm in Old Bridge...no where near New Brunswick and Piscataway. You would think I'm not that far, but the only real way for me to get there is the Turnpike. Route 35 to 18 is actually a lot LONGER, and there really is no need for me to go in that area, ever. (I stopped chasing the Rutgers chicks a lonnnnnnng time ago...especially when I met my DF).

PortChops....man that term does get around....I remember hearing it a lot in grammar and high school. But man Elizabeth provided me with MANY a fun time.....in fact, it was at Kean where I performed my first (and last) cash advance for a fake ID. That fake ID would provide me with adventures....i would have had to wait until I was your age when I turned it....because if I didn't have it, I wouldn't have had the same friends/brothers being with me at 21. By the time I turned 21, the scene would get old.....in fact I would stop getting carded...lmao.

But no, Jersey is one place I am definitely familiar with. If I haven't been to that small town, I probably been to its nearest city. But the places I've lived in were Newark, Elizabeth, Jersey City, Newark again (for a brief 3 years) then finally Old Bridge. Elizabeth and Jersey City were my faves and Greenville/Lafayette (Ihop on 440) is definitely safe. Caucasians still live there, plus a number of Filipinos and Hispanics. I don't care about ethinicity though...only Americans, sans the label. LOL.

I lived in E-town for 3 years partying with my fraternity brothers before I got my own Apartment in Jersey City (the good part...LOL). Now my DF an I live in Middlesex County in a decent ranch. I lived closer to the Elmora section of Elizabeth than the port.

Where's the good part of Jersey City again?? JK, I have friends that live there and downtown has really changed a lot... You realize we were probably neighbors for a while since I have friends and family that live Elmora Ave and I used to hang out there a lot....

And I hope you live in a nice section of Middlesex County, because I have cousins from Piscataway and its really just a short step from Newark....lol... You wouldn't happen to be Portuguese would you? You seem to have lived in many different chop neighborhoods lol....

I do agree that the consumer should have made a more conscious call of their own when realizing they couldnt afford the loan they were taking out. But back in those days it was the lenders/brokers/agents that were egging the whole situation on... Let's be real, everyone wants a peice of the 'American Dream' which is to own their own house... Now rewind and put yourself in that lady's position, she clearly wanted for her and her family to have what everyone around her was getting... She wanted out of the hood and for her family to be in a safe and reputable environment. Did she take advantageous of the system? Oh absolutely, but I also think her mortgage broker/real estate agent who are both State registered and licensed individuals could have led her in the right direction and looked at her financial position and as opposed to thinking of what the commission amount they would make off the deal would be, the right thing would be "lets not show her a house in an area that we know she'll never be able to afford."

I am with you whole heartedly that its a double edged sword all around. But when statistics show that the average American is at a 6th grade reading level, I believe that its our duty as intelligent citizens to provide competent advice to the consumer who in my opinion "doesnt know any better."

And hey, there's nothing wrong with Elizabeth lol. Yes, it has its less desirable areas (aka the port which I did have the opportunity of growing up on for a short while) but I live in the nicer area by Union (right off North avenue) which doesn't have the best schools but thats why the have private schools lol... And you are correct, going from rags to riches (aka the port to Westfield) is a big stepping stone, and there are many different options in between lol....

My dad has a ninth grade education (never got a diploma), yet was able to put food on the table and raise a family and put me through Catholic school with a $32k salary working as a security guard for the Board of Ed. He would NEVER have gotten into an ARM to get into a neighborhood full of affluent folks, and he doesn't even know what an ARM is [he would have an idea, but that's about it]. All he knows is a 30 year fixed. But he doesn't even have to deal with that anymore because his house was bought with cash money once he retired.

One thing to have a reading level above the 6th grade, another is to have common sense. I did as you asked and rewound myself in that time period of late 90s early 2000s. I remember qualifying for a liar loan, but something inside me told me not to do it. My dad didn't have to, why should I? Yeah, he had great credit, but my dad would not have put himself in a crappier situation to get a house. I grew up in Newark, born and raised. I got an education, learned a skill, and was able to move out of the hood. I didn't have aspirations to perpetrate a fraud. I knew to live within my means (as an adult, not as a kid who messed up with credit because of the partying lifestyle....LOL). I lived in E-town for 3 years partying with my fraternity brothers before I got my own Apartment in Jersey City (the good part...LOL). Now my DF an I live in Middlesex County in a decent ranch. I lived closer to the Elmora section of Elizabeth than the port.

I do agree that we should all help each other not make any further dumb mistakes. You'd think that some people defaulting on CCs may not affect you or I. Or your neighbor going into foreclosure. When this recession is over, we, as Americans, will all learn that none of us live on an island. Your neighbor's foreclosure will mean that your house value plummets. Enough people defaulting on the CCs will mean my bank will charge me and everyone else a AF to help make up the difference. Hopefully...things that are changing around us (in terms of credit) will work out for the better.

I'm gonna go out on a limb here and assume you went FHA, also? If you did it's fine....you will be in your house for a good number of years like I will. I refied in February but I did with Bank of America as I have a CC with them. When they gave me my FHA streamline for that rate I locked it up.

I blame the consumer and lender equally. To be fair, some consumers were duped into doing liar loans and after watching House of Cards, I have a bit more sympathy for them. But if you ever watch it though....the one lady who got out of Compton to buy a house in an affluent neighborhood of Cali (Yorba Linda)...nothing wrong with getting out of the hood (how could I...I did it...in fact, I highly recommend it...lmao). But when you make $30k and get a house that's like half a million...oh and you have to take a second mortgage to get a down payment....home girl knew what was up, even if she didn't want to. She was motivated to get out though, and I don't fault her for that...but I do fault her for trying to perpetrate that fraud....there are plenty of places in Cali, I'm sure, where she would have been safe, but not quite as expensive as Yorba Linda.

It's like getting out of Elizabeth (Magnolia Ave area....the seedy area....) and trying to move to Westfield. But you know you can only afford Rahway or Linden. Sure both are a little seedy...but nothing like Newark, Camden, Paterson, Jersey City, et al.

I do agree that the consumer should have made a more conscious call of their own when realizing they couldnt afford the loan they were taking out. But back in those days it was the lenders/brokers/agents that were egging the whole situation on... Let's be real, everyone wants a peice of the 'American Dream' which is to own their own house... Now rewind and put yourself in that lady's position, she clearly wanted for her and her family to have what everyone around her was getting... She wanted out of the hood and for her family to be in a safe and reputable environment. Did she take advantageous of the system? Oh absolutely, but I also think her mortgage broker/real estate agent who are both State registered and licensed individuals could have led her in the right direction and looked at her financial position and as opposed to thinking of what the commission amount they would make off the deal would be, the right thing would be "lets not show her a house in an area that we know she'll never be able to afford."

I am with you whole heartedly that its a double edged sword all around. But when statistics show that the average American is at a 6th grade reading level, I believe that its our duty as intelligent citizens to provide competent advice to the consumer who in my opinion "doesnt know any better."

And hey, there's nothing wrong with Elizabeth lol. Yes, it has its less desirable areas (aka the port which I did have the opportunity of growing up on for a short while) but I live in the nicer area by Union (right off North avenue) which doesn't have the best schools but thats why the have private schools lol... And you are correct, going from rags to riches (aka the port to Westfield) is a big stepping stone, and there are many different options in between lol....

I def should check it out, I have just spoken to so many friends and co-workers who bought when the market was hot...

I am blessed at the fact that I purchased just this past February and I locked in a 6% flat for 30 years (so I am one of the people you speak of lol). I got a great deal on the house and I do qualify for 6500 of the 8k credit (just waiting for the check to arrive any day now lol)...

Its just sad to hear people who had phenomonal credit and got sucked into buying a house under bad terms (and I dont completed deny that the consumer should have known better, but to be honest the realtors, brokers and bankers could've been a little more forthcoming)...

I'm gonna go out on a limb here and assume you went FHA, also? If you did it's fine....you will be in your house for a good number of years like I will. I refied in February but I did with Bank of America as I have a CC with them. When they gave me my FHA streamline for that rate I locked it up.

I blame the consumer and lender equally. To be fair, some consumers were duped into doing liar loans and after watching House of Cards, I have a bit more sympathy for them. But if you ever watch it though....the one lady who got out of Compton to buy a house in an affluent neighborhood of Cali (Yorba Linda)...nothing wrong with getting out of the hood (how could I...I did it...in fact, I highly recommend it...lmao). But when you make $30k and get a house that's like half a million...oh and you have to take a second mortgage to get a down payment....home girl knew what was up, even if she didn't want to. She was motivated to get out though, and I don't fault her for that...but I do fault her for trying to perpetrate that fraud....there are plenty of places in Cali, I'm sure, where she would have been safe, but not quite as expensive as Yorba Linda.

It's like getting out of Elizabeth (Magnolia Ave area....the seedy area....) and trying to move to Westfield. But you know you can only afford Rahway or Linden. Sure both are a little seedy...but nothing like Newark, Camden, Paterson, Jersey City, et al.

I definitely recommend watching CNBC's "House of Cards" you will get an honest and terribly technical (but easy to follow) breakdown on how we as a nation got into this mess.

Everyone got greedy, and everybody got messed up. The only ones who got out sweet were the folks who cashed in the deravitives (that started the demise of AIG and the like).

Then you got people like me who make the mortgage payment on time, did not get into an ARM for thinking I would refi later, or refinancing every year so your equity can get spent on garbage (literally). I thankfully refinanced early to get a lower payment and rate, but it was still early on and I didn't want to pay 7% (I pay 5.5% on a 30 yr fixed now and as I type this, yahoo tells me rates are current 5.46 as the BEST rate...meaning if I tried today I'd be hovering at 6%). In order for me to have gotten 4.xx%...I'd probably have to sell my dignity or something....neither was ever happning. I believe rates will be up another point at minimum by the middle of the summer. By Novemeber, rates will be even crazier because of that $8k credit (so, so pissed....but I digress).

I def should check it out, I have just spoken to so many friends and co-workers who bought when the market was hot...

I am blessed at the fact that I purchased just this past February and I locked in a 6% flat for 30 years (so I am one of the people you speak of lol). I got a great deal on the house and I do qualify for 6500 of the 8k credit (just waiting for the check to arrive any day now lol)...

Its just sad to hear people who had phenomonal credit and got sucked into buying a house under bad terms (and I dont completed deny that the consumer should have known better, but to be honest the realtors, brokers and bankers could've been a little more forthcoming)...

But the reason why this is happening is because everyone is trying to do the loan re-mods with their banks. And the sad thing is, your mortgage lender will not speak to you to do it until you are at least (1) payment late... So people are forced to do this to get out of the ARM's....Very sad....

I definitely recommend watching CNBC's "House of Cards" you will get an honest and terribly technical (but easy to follow) breakdown on how we as a nation got into this mess.

Everyone got greedy, and everybody got messed up. The only ones who got out sweet were the folks who cashed in the deravitives (that started the demise of AIG and the like).

Then you got people like me who make the mortgage payment on time, did not get into an ARM for thinking I would refi later, or refinancing every year so your equity can get spent on garbage (literally). I thankfully refinanced early to get a lower payment and rate, but it was still early on and I didn't want to pay 7% (I pay 5.5% on a 30 yr fixed now and as I type this, yahoo tells me rates are current 5.46 as the BEST rate...meaning if I tried today I'd be hovering at 6%). In order for me to have gotten 4.xx%...I'd probably have to sell my dignity or something....neither was ever happning. I believe rates will be up another point at minimum by the middle of the summer. By Novemeber, rates will be even crazier because of that $8k credit (so, so pissed....but I digress).

But the reason why this is happening is because everyone is trying to do the loan re-mods with their banks. And the sad thing is, your mortgage lender will not speak to you to do it until you are at least (1) payment late... So people are forced to do this to get out of the ARM's....Very sad....

This is sad! Jesus, what's next?

Re:
https://www.financeglobe.com/Finance/Articles/articles/291/0/Mortgage-Delinquencies-Continue-to-Rise/Page0.html