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Brad Bradley leaving Roanoke


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Not much of a football tradition at Amelia...saw a few games there before....really sucky field and bleachers....unless they've changed it since I was there. Reminded me of the old wooden bleachers Graham used to have at the high school.

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Guest The Variable
Not much of a football tradition at Amelia...saw a few games there before....really sucky field and bleachers....unless they've changed it since I was there. Reminded me of the old wooden bleachers Graham used to have at the high school.

 

It doesnt particularly have anything good. School system is pretty poor, law enforcement is mostly dependant on the State Troopers, kind of a dying community. They depend on people speeding on 360 (namely ME) to supplement their income.

 

But seriously, why would someone name their child BRAD BRADLEY?

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Guest The Variable
About the only things Amelia has going for it is the growth overflow from Chesterfield near the Appomattox River and the huge private landfill.

 

Yeah, but I think they took a big hit on that when the mortage bubble burst. From what I understand from some Chesterfield residents at work, Chesterfield got hit HARD. Some of those houses were massively overpriced to begin with and now they are not worth a dime.

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I guess the two biggest tax payers in Amelia are the landfill folks and Tyson.

 

Hah...I forgot about Tyson, I used to pass the hatchery every weekend I came home from Longwood.

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This is WAY off topic but I dont understand the whole mortage thing? I mean I understand paying 150k for a home and now if you tried to resale it its only worth 125k but if you liked a house enough to buy it then who cares what it is worth on the market? If you bought it to sell in a few years or if you lost your job and are having a hard time making payments then yeah you are screwed. I just dont get it!

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This is WAY off topic but I dont understand the whole mortage thing? I mean I understand paying 150k for a home and now if you tried to resale it its only worth 125k but if you liked a house enough to buy it then who cares what it is worth on the market? If you bought it to sell in a few years or if you lost your job and are having a hard time making payments then yeah you are screwed. I just dont get it!

 

The ARMs screwed it up. You got into a house you expected to get out of in a few years, so you use an ARM and get into the mortgage for some crazy low interest rate. When the ARM rate changes, you realize you are wayyyy underwater on your mortgage, you cant sell and you have to eat the new mortgage payment. Try paying your mortgage if it went up $500 a month...what about 1000 a month...what about more? What makes this even worse is that people were getting mortgages they couldnt really afford BEFORE that, plus they lost their jobs....

 

These bank loans were like riding a motorcycle without a helmet, everyone knows there are only 2 kinds of riders, those that have been down, and those that are going down...sure, go ahead a ride without one, but when its your time to go down...splat.

 

Thats one of many problems. Explained to me by my brother in law, a former AIG employee.

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I understand the point of people got in WAY over their heads, I blame them for biting off more than they could chew and the banks for loaning them huge ammounts of money knowing that they probably would have to default later(bank makes money off of the payments and gets the home back later). But I know alot of people who plan on keeping their homes for the rest of their lives and are stressing because their homes value went down, I dont understant that?

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The ARMs screwed it up. You got into a house you expected to get out of in a few years, so you use an ARM and get into the mortgage for some crazy low interest rate. When the ARM rate changes, you realize you are wayyyy underwater on your mortgage, you cant sell and you have to eat the new mortgage payment. Try paying your mortgage if it went up $500 a month...what about 1000 a month...what about more? What makes this even worse is that people were getting mortgages they couldnt really afford BEFORE that, plus they lost their jobs....

 

These bank loans were like riding a motorcycle without a helmet, everyone knows there are only 2 kinds of riders, those that have been down, and those that are going down...sure, go ahead a ride without one, but when its your time to go down...splat.

 

Thats one of many problems. Explained to me by my brother in law, a former AIG employee.

 

I have an 5 year ARM (in year 5) and my payment has actually went down. The loan officer told me that after 5 years, my loan would lock in at the current interest rate. Hoping it stays low until June. Are there different types of ARMs?

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I have an 5 year ARM (in year 5) and my payment has actually went down. The loan officer told me that after 5 years, my loan would lock in at the current interest rate. Hoping it stays low until June. Are there different types of ARMs?

 

Many people took on mortgages with ARM that had balloon payments included. They would pay almost no interest in the first 4 years and then face a giant balloon interest payment. Their plan was for it to be a starter house, and be gone before the balloon came due. In those cases, the people gambled and are left with a house worth less than they paid, and owing a big payment. Not a good position. I guess they are called "High Risk" loans for a reason.

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