Mortgage Defaults May Be Driving Consumer Spending

You're a moron, it's that simple. Done. Period. End of story.
Quote from krazykarl:

Yes, it is. The entity lending the money is responsible for making sure they get it back, else they, as a business, will go under. They made a bad decision when they lent to someone who ends up not paying it back, it's that simple. The other actors are irrelevant: a loan is between the lender and the lendee. Each side is responsible for their end of the contract. Done. Period. End of story.
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Either playing devils advocate or just shit for brains.

My guess is shit for brains. I can smell the shit smell of a fucking neocon even through the internet.



Quote from Trader666:

You're wrong on both counts. It's not always the "bank's fault." That mindless mantra ignores all the other bad actors... millions of greedy sheeple who got in over their heads, bad monetary policy, pandering politicians who pushed home ownership and made laws that discourage personal responsibility, etc. Now too many are simply taking advantage of the collapse and gaming the system. And banks DO share their profits -- with shareholders, just like any other business does. And please spare me the crap about banks being bailed out by "taxpayers." First, the bailouts wouldn't have been necessary had millions of deadbeat "taxpayers" not crashed the system by defaulting. Second, not all banks needed to be bailed out and some were even forced to take bailout money anyway. Third, the government has profited from the bailouts. And fourth, there shouldn't have been any bailouts to begin with... of corporations or individuals.
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The fact that you think more can be gained from being a deadbeat than from being responsible means you must be an incredibly incapable loser :p
Quote from sprinter:

hahaha. A responsible person who is sooo jealous that he got screwed over in the end. Sorry Charlie. You were nit as bright as you thought following the supposed rules. A cruel twist of fate that the responsible lose in the end. Too bad joker!
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And I can smell the shit smell of a stupid loser like you through the internet. Threads where personal responsibility is discussed attract losers who don't believe in it like shit attracts flies.
Quote from fkbsuhites:

Either playing devils advocate or just shit for brains.

My guess is shit for brains. I can smell the shit smell of a fucking neocon even through the internet.
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This is about what I'd expect from someone who's been on the wrong side of the market for a year :p
Quote from shortie:

banks created the crisis that took away jobs from people with mortgages. it is only fair that the mortgages are forgiven, people keep the houses and the banks bear the all the burden and credit scores are not touched.
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Quote from nutmeg:

"Americans are now far more likely to pay their other bills first before their mortgage (which is a big turnaround historically speaking.)

That means they pay off their credit cards, cable bills, car loans in place of their home loans."
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"First he describes a case study of someone who applied for the government's Home Affordable Modification Program.

The person had an $1,880.00 monthly mortgage payment on which they'd defaulted, but said person's monthly bank statement showed payments to a tanning salon, nail spa, liquor stores, DirecTV bill with premium charges, and $1,700.00 in retail purchases from The Gap, Old Navy, Home Depot, Sears, etc."
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cont on link..

http://www.cnbc.com/id/36422316
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Old news, I knew this was coming last year.
 
Quote from TraderZones:

I wonder if you ever experienced any of these. If you did, you would not consider it so carefree. It drives up your car insurance, makes it a lot harder to get a job, get a loan/mortgage, start a business, and a whole lot of other things that people never think of.

Defaulting or bankrupting should only be considered if it is beyond your ability to negotiage/repay the debts...
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Trump does it all the time.
 
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