You know what job I would love?

[Elhuero]

I'd love to be on the payroll of a mortgage company.

Sole job: bother the shit out of lowlife douchebags like these people.


http://www.msnbc.msn.com/id/37444899...new_york_times

[Irving]

I don't understand this, and I hear about it all the time. When you buy a house, can you get a loan where your payments remain the same? If so, then it doesn't matter what your house is worth. It should only matter what your house is worth if you are selling it.

For example: I bought my car for $6,300 on a 36 month loan less than 3 years ago. I've actually paid my car off now (early), but I'm sure that the value of my car depreciated a little bit quicker than I was able to pay off the loan in the first year or so. Technically I was probably paying on a car that was worth less than I owed on it, but it didn't matter because having a car at all was worth FAR more than the difference between the loan amount and value of the car. Now that my loan has been paid, and even though my car is worth next to nothing, I'm still in the positive. I never would have made it to this position if I just stopped paying for my car. Plus, it never mattered what the car was worth to anyone else because I never tried to sell it. Having a reliable vehicle to drive to work in every was of more value to me than not being a little upside down on a vehicle.

I can not for the life of me understand how people don't understand the value of their homes. There are very few instances where the value of your home matters when you are not selling it. I would gladly pay on the amount that I purchased the home for if it meant keeping my place. People are so short sighted. Your home was obviously worth that point at some time, so it is possible that it will be worth that much again.

[CrufflerSteve]

I sort of understand but don't approve. We all were told again and again that houses were investments. BS! It's a place to live and all of us who buy more house than we really need are suckers.

If I lost my job or something else awful happened I could see not paying but until then it would be dishonorable to not pay.

Steve

[BigBear]

That is something I've never understood as well. A family of 3 or even 4 "needing" a 6 bedroom house with a full basement, 3 car garage, etc where the main "breadwinner" barely pulls down enough to keep clothes on his/her children and food in their mouth?...

Maybe I was just raised differently....

[Elhuero]

read the article.

it talks about the things they spent the money on their refinances on.

If I owned a mortgage company I'd be burning the houses down.

[Irving]

Oh I know. The attitude of all the people who decide to go this route just kills me.

[Irving]

If there were possible murder charges, then it would be Aggravated Arson.

[CrufflerSteve]

First you kick the deadbeats out. Then tear it down. http://www.ktla.com/news/landing/ktl...,4154575.story

It actually is kind of horrifying to build it and tear it down. Of course, a lot of people didn't see this economy coming.

Maybe the local fire department would burn it down as a training exercise.

Steve

[esaabye]

Foreclosure has allowed them to stabilize the family business. Go to Outback occasionally for a steak. Take their gas-guzzling airboat out for the weekend. Visit the Hard Rock Casino.

I am not appy I get to pay for these freeloaders, which is how it works for the rest of us. They made poor choices and continue to do so and those of us who live within our means pick up the bill.

[Irving]

Can someone explain exactly how tax payers are picking up this burden? It's not that I'm not open to the idea of tax payers having to pick up costs for things, but I'm very skeptical. People tend to throw the idea of tax payers paying for all kinds of things around pretty loosely.

If you don't pay your car loan, your car gets repossessed and sold to someone else. I don't see where the taxpayer enters the equation here, or in this example of home owners not paying their mortgage.