you're paying for this schoolbus drivers $800k house

Our so called leaders speak.

With words they try to jail you.

They subjugate the meek.

But it's the rhetoric of failure.

Police
 
Quote from Trader666:

If I had my way we'd bring back debtors' prison and make these deadbeats do the menial work we outsource to China.
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i would hope to be fair you would put all of the banking industry in prison as well,since they lend money they don't have
 
it's easy to find someone to blame, and this lady should definitely go into foreclosure and starting renting, but i dont understand the whole "you're paying" for her house bit. are you talking about the thing that the president just passed? if so, there's no way this lady would qualify for that program.
 
I'm sure there are people in the banking industry who should be put in jail but let me ask you:

Which is worse, lying on a loan application or failing to verify?

If two parties (a bank and a consumer) enter into a legally binding contract and the consumer defaults, who is more at fault?
Quote from antitrust:

i would hope to be fair you would put all of the banking industry in prison as well,since they lend money they don't have
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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.
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I think you're stretching the truth just a tad beyond the point of recognizability. But your use of a kernel of truth almost makes it edible.

Gnome, you know as well as I do that unscrupulous bankers took what they saw as a "loophole" and drove a truck through it. Same with some borrowers who should not be bailed out.
 
She might qualify for a principal cram-down if she files for bk.
Quote from riggz:

it's easy to find someone to blame, and this lady should definitely go into foreclosure and starting renting, but i dont understand the whole "you're paying" for her house bit. are you talking about the thing that the president just passed? if so, there's no way this lady would qualify for that program.
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^ We're bailing out the banks, dropping interest rate in the face of exploding inflation, and diluting the dollar so this lady could live in a 800k house that was and is way over her means. People like her (and also the banks/government) all contributed to this very financial crisis, and making all the responsible people pay for their extravagence.
 
How about getting another job? I am sure local strip joint is hiring. Both mama and one of the kids could make some $$$. Let's get to work!!!!! :D
 
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