Comments on: More On Fantasia’s Foreclosure http://www.mjsbigblog.com/more-on-fantasias-foreclosure.htm American Idol - I Love This Cheesy Show Fri, 10 Feb 2012 06:45:00 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Keel http://www.mjsbigblog.com/more-on-fantasias-foreclosure.htm/comment-page-1/#comment-172105 Keel Wed, 10 Dec 2008 00:14:14 +0000 http://mjsbigblog.com/more-on-fantasias-foreclosure.htm#comment-172105 I sure hope this is a misunderstanding, but nonetheless, I have to say that I am shocked that she took out a $1 million mortgage on a $1.3 million property. That basically means that she put a little over 20% down on the property, which is essentially the minimum (these days) of what you can put down on a house for purchase. However, most people who do that (put 20% down) have jobs that, at least a bank would presume, would have some expectation of paying about the same or better in the long term. Unfortunately, Fantasia is in show business and the implication that her job or earning capacity will be long term is laughable. This is not laughable because it's Fantasia we're talking about but laughable because no celebrity can be assured that they'll have the same level of success in 5 years much less in 12 months. As I said in the previous thread on this topic, celebrities, if they are thinking ahead, should purchase their homes in cash (or at least a large percentage (about 80%) of the purchase price) because their chosen career is not known for its longevity. Again, I hope there is a misunderstanding here and that she ends up salvaging the home. I sure hope this is a misunderstanding, but nonetheless, I have to say that I am shocked that she took out a $1 million mortgage on a $1.3 million property. That basically means that she put a little over 20% down on the property, which is essentially the minimum (these days) of what you can put down on a house for purchase. However, most people who do that (put 20% down) have jobs that, at least a bank would presume, would have some expectation of paying about the same or better in the long term. Unfortunately, Fantasia is in show business and the implication that her job or earning capacity will be long term is laughable. This is not laughable because it’s Fantasia we’re talking about but laughable because no celebrity can be assured that they’ll have the same level of success in 5 years much less in 12 months. As I said in the previous thread on this topic, celebrities, if they are thinking ahead, should purchase their homes in cash (or at least a large percentage (about 80%) of the purchase price) because their chosen career is not known for its longevity. Again, I hope there is a misunderstanding here and that she ends up salvaging the home.

]]> By: abbysee http://www.mjsbigblog.com/more-on-fantasias-foreclosure.htm/comment-page-1/#comment-172100 abbysee Wed, 10 Dec 2008 00:05:10 +0000 http://mjsbigblog.com/more-on-fantasias-foreclosure.htm#comment-172100 It's much easier to presume that because you sing for a living or are on Broadway that you are rich and therefore not eligible to foreclosures or a downturn in ones fortunes. Certainly you aren't an average American who has to work for a living, it must be mismanagement because only average Americans fall on hard times. Or is it only people who were semi-literate, or only obtained their GED, certainly college educated people never get foreclosed on or fall on hard times. Yeah, that's it. It’s much easier to presume that because you sing for a living or are on Broadway that you are rich and therefore not eligible to foreclosures or a downturn in ones fortunes.

Certainly you aren’t an average American who has to work for a living, it must be mismanagement because only average Americans fall on hard times. Or is it only people who were semi-literate, or only obtained their GED, certainly college educated people never get foreclosed on or fall on hard times. Yeah, that’s it.

]]> By: hypertwink http://www.mjsbigblog.com/more-on-fantasias-foreclosure.htm/comment-page-1/#comment-172095 hypertwink Tue, 09 Dec 2008 23:40:30 +0000 http://mjsbigblog.com/more-on-fantasias-foreclosure.htm#comment-172095 So if she didn't have money and she lived outside of her means, then it's really all her fault then? I mean, wasn't she in debt before? I'm asking because if she was, then shouldn't that have taught her to save, manage her money or something? So if she didn’t have money and she lived outside of her means, then it’s really all her fault then? I mean, wasn’t she in debt before? I’m asking because if she was, then shouldn’t that have taught her to save, manage her money or something?

]]> By: SallyinIllinois http://www.mjsbigblog.com/more-on-fantasias-foreclosure.htm/comment-page-1/#comment-172078 SallyinIllinois Tue, 09 Dec 2008 22:47:32 +0000 http://mjsbigblog.com/more-on-fantasias-foreclosure.htm#comment-172078 We forget that she's 22 or 23 years old, which is very very young....and to think that entertainers have $$mill is a fallacy. Damon Dash has 0 to his name after accruing $22Mil....a lot of entertainers don't have a pot to p*** in, and they get "rich" through real estate and owning their song rights. If she doesn't write or produce her songs, then she's not rich....and she hasn't toured a lot, and she has NO endorsements....she's on the poor side IMO. She got loans based on her name and fame, and most entertainers do that. It's a risk for the bank to lend her money....she has to produce income taxes and income statements....so yep, she would go to a shady mortgage company for the loan. We forget that she’s 22 or 23 years old, which is very very young….and to think that entertainers have $$mill is a fallacy. Damon Dash has 0 to his name after accruing $22Mil….a lot of entertainers don’t have a pot to p*** in, and they get “rich” through real estate and owning their song rights. If she doesn’t write or produce her songs, then she’s not rich….and she hasn’t toured a lot, and she has NO endorsements….she’s on the poor side IMO.

She got loans based on her name and fame, and most entertainers do that. It’s a risk for the bank to lend her money….she has to produce income taxes and income statements….so yep, she would go to a shady mortgage company for the loan.

]]> By: Niall http://www.mjsbigblog.com/more-on-fantasias-foreclosure.htm/comment-page-1/#comment-172032 Niall Tue, 09 Dec 2008 20:23:36 +0000 http://mjsbigblog.com/more-on-fantasias-foreclosure.htm#comment-172032 Yeah it is kind of insulting to compare Fantasia to the average American. She's got two expensive houses and should be financially set for life but she's obviously mismanaging her finances. Shady loans? Being so far removed from things that she lets her attorney miss a hearing? Maybe Fantasia should have gotten that GED she talked about and taken some financial planning classes. The average person on the street just wants to hold onto their middle income job and keep a roof over their head, however modest that roof might be. Yeah it is kind of insulting to compare Fantasia to the average American. She’s got two expensive houses and should be financially set for life but she’s obviously mismanaging her finances. Shady loans? Being so far removed from things that she lets her attorney miss a hearing? Maybe Fantasia should have gotten that GED she talked about and taken some financial planning classes.

The average person on the street just wants to hold onto their middle income job and keep a roof over their head, however modest that roof might be.

]]> By: Squirrelly http://www.mjsbigblog.com/more-on-fantasias-foreclosure.htm/comment-page-1/#comment-172030 Squirrelly Tue, 09 Dec 2008 20:18:03 +0000 http://mjsbigblog.com/more-on-fantasias-foreclosure.htm#comment-172030 Fantasia is not an average American. Average Americans are struggling right now. I am an average American, and I am losing my job at the end of the month. Ià ¢Ã¢â€š ¬Ã¢â€ž ¢m scared to death because of what I went through last year looking for a job, and almost lost my apartment because I couldnà ¢Ã¢â€š ¬Ã¢â€ž ¢t find a job and ran out of unemployment. Average Americans donà ¢Ã¢â€š ¬Ã¢â€ž ¢t have several expensive homes. Average Americans donà ¢Ã¢â€š ¬Ã¢â€ž ¢t even own a home, they rent! Average Americans are looking for a good job and settling for working for $7.50/hr. selling credit cards on the phone. Wake up! We need more and better jobs, and job security! Fantasia is not an average American. Average Americans are struggling right now. I am an average American, and I am losing my job at the end of the month. Ià ¢Ã¢â€š ¬Ã¢â€ž ¢m scared to death because of what I went through last year looking for a job, and almost lost my apartment because I couldnà ¢Ã¢â€š ¬Ã¢â€ž ¢t find a job and ran out of unemployment. Average Americans donà ¢Ã¢â€š ¬Ã¢â€ž ¢t have several expensive homes. Average Americans donà ¢Ã¢â€š ¬Ã¢â€ž ¢t even own a home, they rent! Average Americans are looking for a good job and settling for working for $7.50/hr. selling credit cards on the phone. Wake up! We need more and better jobs, and job security!

]]> By: Squirrelly http://www.mjsbigblog.com/more-on-fantasias-foreclosure.htm/comment-page-1/#comment-172021 Squirrelly Tue, 09 Dec 2008 20:01:19 +0000 http://mjsbigblog.com/more-on-fantasias-foreclosure.htm#comment-172021 Fantasia is not an average American. Average Americans are struggling right now. I am an average American, and I am losing my job at the end of the month. I'm scared to death because of what I went through last year looking for a job, and almost lost my apartment because I couldn't find a job and ran out of unemployment. Average Americans don't have several expensive homes. Average Americans don't even own a home, they rent! Average Americans are looking for a good job and settling for working for $7.50/hr. selling credit cards on the phone. Wake up! We need more and better jobs, and job security! Fantasia is not an average American. Average Americans are struggling right now. I am an average American, and I am losing my job at the end of the month. I’m scared to death because of what I went through last year looking for a job, and almost lost my apartment because I couldn’t find a job and ran out of unemployment. Average Americans don’t have several expensive homes. Average Americans don’t even own a home, they rent! Average Americans are looking for a good job and settling for working for $7.50/hr. selling credit cards on the phone. Wake up! We need more and better jobs, and job security!

]]> By: abbysee http://www.mjsbigblog.com/more-on-fantasias-foreclosure.htm/comment-page-1/#comment-172017 abbysee Tue, 09 Dec 2008 19:53:34 +0000 http://mjsbigblog.com/more-on-fantasias-foreclosure.htm#comment-172017 Fantasia is an average American in that she too has to work to pay her mortgage. Not sure whether she is asking for anyones sympathy. Fantasia is an average American in that she too has to work to pay her mortgage. Not sure whether she is asking for anyones sympathy.

]]> By: sonyab http://www.mjsbigblog.com/more-on-fantasias-foreclosure.htm/comment-page-1/#comment-172006 sonyab Tue, 09 Dec 2008 19:18:58 +0000 http://mjsbigblog.com/more-on-fantasias-foreclosure.htm#comment-172006 but I am going to save my sympathy for average Americans who are struggling to hold onto their homes, not a star singer with millions who blows her money and causes her own problems. =========================================== Well Niall, Fantasia has another house anyway. :) but I am going to save my sympathy for average Americans who are struggling to hold onto their homes, not a star singer with millions who blows her money and causes her own problems.
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Well Niall, Fantasia has another house anyway. :)

]]> By: Niall http://www.mjsbigblog.com/more-on-fantasias-foreclosure.htm/comment-page-1/#comment-172004 Niall Tue, 09 Dec 2008 19:10:44 +0000 http://mjsbigblog.com/more-on-fantasias-foreclosure.htm#comment-172004 Why is she getting loans from a shady company? Can't she just go to a regular bank? Why would she need a loan anyway? I know it is being spun as a misunderstanding but it certainly sounds like she's been mismanaging her finances and living beyond her means. Hopefully she can work things out in a way that doesn't destroy her credit rating but I am going to save my sympathy for average Americans who are struggling to hold onto their homes, not a star singer with millions who blows her money and causes her own problems. Why is she getting loans from a shady company? Can’t she just go to a regular bank? Why would she need a loan anyway? I know it is being spun as a misunderstanding but it certainly sounds like she’s been mismanaging her finances and living beyond her means. Hopefully she can work things out in a way that doesn’t destroy her credit rating but I am going to save my sympathy for average Americans who are struggling to hold onto their homes, not a star singer with millions who blows her money and causes her own problems.

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