View Poll Results: Bank transfer to non profit ... are you supporting/participating?

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  • Yes

    6 18.18%
  • No

    11 33.33%
  • other

    2 6.06%
  • I am already there ...

    14 42.42%
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Thread: Bank Transfer Day

  1. #31
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    Re: Bank Transfer Day

    Quote Originally Posted by Harry Guerrilla View Post
    I'm not a fan of the big banks, but they are in business to make money.
    When they offered free checking, they did it as a loss leader for most people.

    Now that they can't make up some of the loss through the debit transaction system, they're charging a nominal fee for securing your money.
    Damned if they do and damned if they don't.

    Would you rather them take another bail out, because they continued to offer "free" checking, when they could no longer afford it?
    Id rather they stop giving their ceo's multimillion dollar salaries and bonus's when taking bailouts for FAILING ...and I would like for banks to stop hiding ju st how much money they really make and start paying their fair share of taxs....this whining and bemoaning the fate of big corporations is beyond laughable anymore...any moron can readily see what the real truth is and who really got screwed...hint: it wasnt the rich and corporations....
    People who keep cheerleading for them are making themselves look naive...when all the real evidence shows the truth

  2. #32
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    Re: Bank Transfer Day

    Quote Originally Posted by lpast View Post
    Id rather they stop giving their ceo's multimillion dollar salaries and bonus's when taking bailouts for FAILING ...and I would like for banks to stop hiding ju st how much money they really make and start paying their fair share of taxs....this whining and bemoaning the fate of big corporations is beyond laughable anymore...any moron can readily see what the real truth is and who really got screwed...hint: it wasnt the rich and corporations....
    People who keep cheerleading for them are making themselves look naive...when all the real evidence shows the truth
    The banks aren't innocent by any means, but then again, neither are a lot of "the people."

    How many people got a HELOC, drew out all the cash and then walked away, letting the house go into foreclosure?
    How many people decided to make strategic defaults and walked away from their homes?
    How many people engaged in the borrower side of stated income mortgages and bought too much house for their real income level?

    Answer: A lot.

    It's easy to toss crap at the banks.
    Not so easy to see regular janes and joes acting in an equally reckless manner.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

  3. #33
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    Re: Bank Transfer Day

    Quote Originally Posted by molten_dragon View Post
    I have no intention of moving away from my bank. I'm fairly happy with it.
    Just curious... Which is your bank?

  4. #34
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    Re: Bank Transfer Day

    Quote Originally Posted by Harry Guerrilla View Post
    I'm not a fan of the big banks, but they are in business to make money.
    When they offered free checking, they did it as a loss leader for most people.

    Now that they can't make up some of the loss through the debit transaction system, they're charging a nominal fee for securing your money.
    Damned if they do and damned if they don't.

    Would you rather them take another bail out, because they continued to offer "free" checking, when they could no longer afford it?
    I think this touches on the reality, but leaves some out. Yes, free checking was a loss-leader, but... banks were able to offer free checking because regulations had been loosened that allowed them to make gobs more money in other areas that they had previously been unable to. Then when everybody (banks and consumers alike) abused their new found freedom, regulations tightened back up. Thing is, the banks did not view those few years with unusually huge profits as an aberration as they should have, they considered it the "new norm", and are trying to stay at that level. IMO, it's unrealistic.
    Last edited by radcen; 10-19-11 at 12:00 PM.

  5. #35
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    Re: Bank Transfer Day

    Quote Originally Posted by Harry Guerrilla View Post
    The banks aren't innocent by any means, but then again, neither are a lot of "the people."

    How many people got a HELOC, drew out all the cash and then walked away, letting the house go into foreclosure?
    How many people decided to make strategic defaults and walked away from their homes?
    How many people engaged in the borrower side of stated income mortgages and bought too much house for their real income level?

    Answer: A lot.

    It's easy to toss crap at the banks.
    Not so easy to see regular janes and joes acting in an equally reckless manner.
    Totally agree with this. To use an old cliche, it takes two to tango... but people don't like to hear that.

  6. #36
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    Re: Bank Transfer Day

    Quote Originally Posted by Harry Guerrilla View Post
    How many people engaged in the borrower side of stated income mortgages and bought too much house for their real income level? Answer: A lot.
    We bought a house in the late 1990s - a move to downsize as we were no longer the old-woman-who-lived-in-a-shoe. We requested approval for a loan amount that was far below what we could afford based on our income. The bank approved us for a loan that was >3 times the amount we requested and then sent that figure to our realtor. Of course we were being shown and pressured to buy more house than we wanted by the realtor. We had to switch realtors and tell them we were only approved for the original amount we requested to be shown houses in the range we wanted and finally buy a house in that range. As soon as the realtor found out what amount we were approved to receive, she wanted to show us more houses in the approved range and encouraged us not to buy the house we bought.

    Based on the above (and a number of friends who have had similar experiences), I have to put most of the fault at the banks' feet. Younger people often don't have the experience to realize that having a cushion is important and they shouldn't be pushed into a position that while result in them losing their homes to learn that valuable lesson.

  7. #37
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    Re: Bank Transfer Day

    Quote Originally Posted by Frolicking Dinosaurs View Post
    We bought a house in the late 1990s - a move to downsize as we were no longer the old-woman-who-lived-in-a-shoe. We requested approval for a loan amount that was far below what we could afford based on our income. The bank approved us for a loan that was >3 times the amount we requested and then sent that figure to our realtor. Of course we were being shown and pressured to buy more house than we wanted by the realtor. We had to switch realtors and tell them we were only approved for the original amount we requested to be shown houses in the range we wanted and finally buy a house in that range. As soon as the realtor found out what amount we were approved to receive, she wanted to show us more houses in the approved range and encouraged us not to buy the house we bought.

    Based on the above (and a number of friends who have had similar experiences), I have to put most of the fault at the banks' feet. Younger people often don't have the experience to realize that having a cushion is important and they shouldn't be pushed into a position that while result in them losing their homes to learn that valuable lesson.
    I had a similar experience (as did some friends of mine).

    I bought my present home 6 years ago. I told the broker in no uncertain terms that I would not even consider an ARM (I know that I'm the type that needs certainty in stuff like this). Fixed-rate only. To his credit, he understood and never presented me with an ARM option. I was also approved for about 20% more than I eventually spent.

  8. #38
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    Re: Bank Transfer Day

    Quote Originally Posted by Frolicking Dinosaurs View Post
    We bought a house in the late 1990s - a move to downsize as we were no longer the old-woman-who-lived-in-a-shoe. We requested approval for a loan amount that was far below what we could afford based on our income. The bank approved us for a loan that was >3 times the amount we requested and then sent that figure to our realtor. Of course we were being shown and pressured to buy more house than we wanted by the realtor. We had to switch realtors and tell them we were only approved for the original amount we requested to be shown houses in the range we wanted and finally buy a house in that range. As soon as the realtor found out what amount we were approved to receive, she wanted to show us more houses in the approved range and encouraged us not to buy the house we bought.

    Based on the above (and a number of friends who have had similar experiences), I have to put most of the fault at the banks' feet. Younger people often don't have the experience to realize that having a cushion is important and they shouldn't be pushed into a position that while result in them losing their homes to learn that valuable lesson.
    I just bought my home 2 months ago, we too were offered more than what we wanted to use to purchase a house.
    However, I've spent the greater part of 2 years preparing to purchase a house and I told the Realtor exactly what I was comfortable spending.

    I didn't accept anything else.
    In actuality, we shopped for houses and told the Realtor what we wanted to look at, she arranged the visits and communicated with the seller for us.
    Much like a court of law, "ignorance is no excuse."
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

  9. #39
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    Re: Bank Transfer Day

    Quote Originally Posted by Occam's Razor View Post
    Just curious... Which is your bank?
    I have no intention of answering this. But it's a major national bank.
    If you build a man a fire, he'll be warm for a day.

    If you set a man on fire, he'll be warm for the rest of his life.

  10. #40
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    Re: Bank Transfer Day

    Quote Originally Posted by molten_dragon View Post
    I have no intention of answering this. But it's a major national bank.
    So... you are so happy with them you wouldn't recommend them to others? Strange...

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