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you're paying for this schoolbus drivers $800k house
- Thread starter empee
- Start date
Quote from Trader666:
What you claim is question #3 is not what I asked. My question was:
"If two parties (a bank and a consumer) enter into a legally binding contract and the consumer defaults, who is more at fault?"
If you want me to answer your questions you need to answer mine.
I'm growing tired of you're lack to carry on a conversation
I have at least made an effort to answer yours
It seems your ego is keeping you from making anything remotely resembling a humbling post. Any attempt to have you acknowledge that defaulters could not have done this on their own seems to conflict with your need to feel superior to them. This clearly is demonstrated in your posts. If you can not even try to answer my question I will assume that you are no longer will to defend your position.
If you answer my question i will respond otherwise i think we can both agree that the conversation has gone from subject matter to personal attacks and ego stroking which is not part of mature conversation and a waste of both are energies
Quote from gnome:
What about us dumb schmucks living in 1959? House paid off, money in the bank, no credit card debt... why, we just a bunch of dumb farkin' azzholes...
*uses hypnosis* You want to cash in on your equity...you want to go on vacation!
Hey, thats what the Banks were screaming about back in the 90s and early 2000s.
A Doctor friend of mine posted this on a "sports forum" I go too a quite a bit:
"I put a lady in the hospital with pneumonia the other day. As a routine part of the patient's history, I asked her what she did for a living. She said she had worked as a housekeeper before but now she isn't working because "Barack is gonna give me money so I won't have to work no more."
Gas and Mortgage money lol
"I put a lady in the hospital with pneumonia the other day. As a routine part of the patient's history, I asked her what she did for a living. She said she had worked as a housekeeper before but now she isn't working because "Barack is gonna give me money so I won't have to work no more."
Gas and Mortgage money lol
I have a question for the Forum...
Why would someone in one of the hard hit devalue areas with a good income who can pay their mortgage not walk away from their house that has lost half its value for a foreclosure in the same neighborhood with half the payment. This is happening all across Southern California.
People taking a 100 point hit to their fico and reducing their mortgage by half. Banks being banks are happy to screw over their competitors to get a liability off their books.
Why would someone in one of the hard hit devalue areas with a good income who can pay their mortgage not walk away from their house that has lost half its value for a foreclosure in the same neighborhood with half the payment. This is happening all across Southern California.
People taking a 100 point hit to their fico and reducing their mortgage by half. Banks being banks are happy to screw over their competitors to get a liability off their books.
Quote from AC3:
I have a question for the Forum...
Why would someone in one of the hard hit devalue areas with a good income who can pay their mortgage not walk away from their house that has lost half its value for a foreclosure in the same neighborhood with half the payment. This is happening all across Southern California.
People taking a 100 point hit to their fico and reducing their mortgage by half. Banks being banks are happy to screw over their competitors to get a liability off their books.
Shouldn't be able to "walk" with such non-consequence. All mortgage loans should either be "full recourse" or be properly collateralized with a big down payment.
Quote from gnome:
I don't think that's quite right.
Bankers who made the loans (1) were forced to by Congress, and (2) knew they could offload ANY mortgage loan to Fannie/Freddie (Congress made that mandatory, too).
Therefore, bankers not only didn't need to be concerned about "prudent underwriting", they were DISCOURAGED from doing so. And that was the Congress' fault... specifically, the 1999 DemoCraps who initiated Afirmative Action Lending.
Why are you so racist? Were you beat up by the black kids when in high school?
MOST mortgages did not go to minorities. The Affirmative Action Lending was really about getting to the low income homes & getting votes. And NO bank is ever forced to lend, whoever says such nonsense is not using logic or rational thinking.
When banks are giving out mortgages that they know will default and ratings agencies are giving AAA ratings to obvious junk grades, it is for one reason only. They are getting PAID.
If you think Affirmative Action Lending made a difference in this, you are greatly mistaken.
Quote from gnome:
Shouldn't be able to "walk" with such non-consequence. All mortgage loans should either be "full recourse" or be properly collateralized with a big down payment.
Then you must be against all types of corporations s class, c class, lcc
any structure that would allow people to insulate the wealth they suckout from the company while having loans