1457
MAGAt loses his federal job (midwest.social)
submitted 1 year ago by to c/leopardsatemyface@lemmy.world
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Cross posted from Discuit

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[–] 109 points 1 year ago (5 children)

It's kind of scary that 3 weeks is all it took for them to list their home.

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  • [–] 111 points 1 year ago (2 children)

    It’s kind of scary that 3 weeks is all it took for them to list their home.

    The neighbor is part of the (in 2019) 51%.

    "Most Working Americans Would Face Economic Hardship If They Missed More than One Paycheck"

    source

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  • [–] 30 points 1 year ago (1 child)

    And on top of that for most government workers their paychecks have been remarkably stable. Assuming you'll always be employed plus easy credit and bad financial habits are a bad combination

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  • [–] 1 point 1 year ago

    Pretty much this. For many, up until basically right now, working in the federal government all but guaranteed employment for years. I tried very, very hard to be employed at my local NIOSH branch (sadly didn't make the cut) because of this fact.

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  • [–] 17 points 1 year ago (1 child)

    Man, that's tragic. I was poor most of my early life, and when I finally started to make enough money to be comfortable, I knew that the thing I couldn't do was fall into the lifestyle trap. Living well below my means saved me so much hardship when things weren't going well. I know that many don't ever get to the point of comfortable, though, and there's a bit of luck and effort, to that.

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  • [–] 15 points 1 year ago (1 child)

    Bet he also had a $100k truck parked in front of that home. Bought with a loan with 12% interest

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  • [–] 1 point 1 year ago (2 children)

    12% is pretty insane for an asset that depreciates as fast as a vehicle does.

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  • [–] 2 points 1 year ago (1 child)

    My first car had a 23% interest rate on the loan. I had no credit history and was relying on people I thought knew enough about car buying with me to help me know if I was getting shafted. That dealership has remained on my do not buy list ever since, even after changing ownership due to the previous owners practices of fraud

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  • [–] 2 points 1 year ago (1 child)

    It's such a sham that the "truth in lending" laws still didn't go far enough to simplify the Financials of loan interest.

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  • [–] 2 points 1 year ago (1 child)

    Honestly the biggest problem was not that I wasn't shown the interest rate, but that they carefully avoided any financial talk (I never actually saw the final price of the vehicle, only the monthly payment and only learned the exact details, including the several extra thousand dollars of extended service plans when I was going to refinance the loan at my bank) and carefully flipped through the paperwork to encourage jumping straight to signing without reading, even joking "oh no you don't want to read that" at one stage

    Every car I've bought since I've been extremely diligent to read through all of the paperwork before signing anything, and one of the times caught the permission to sell data for marketing purposes form which I declined (the salesperson seemed surprised when I spotted that one and said "oh that looks like one to decline")

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  • [–] 1 point 1 year ago

    Because cars are status symbols and people are fucking stupid. So of course capitalists exploit these dumdums. There are even companies where you can rent-to-own tire rims. And of course those companies make hundreds of millions a year.

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  • [–] 13 points 1 year ago

    If their whole financial system is built on getting the next paycheck or else, this is quite to be expected. He might even be smart (for a magahead) putting it on the market as early as possible instead of clinging to it.

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  • [–] 4 points 1 year ago (2 children)

    Doesn’t seem likely unless he was renting. Even if you miss one mortgage payment, your bank can’t take your house that fast. If he was renting, he might have been threatened with eviction and chose to leave.

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  • [–] 11 points 1 year ago (1 child)

    Doesn’t seem likely unless he was renting. Even if you miss one mortgage payment, your bank can’t take your house that fast.

    If it was posted for sale it likely wasn't a foreclosure that fast. Perhaps the owner did the math and saw very quickly that they wouldn't be able to keep up with the mortgage, or no longer had any reason to live in that city because they were there only for the job. With the job gone, the need of the house in that city goes with it. I'm just speculating.

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