You know what job I would love?

[clublights]

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.

That whole bank bail out thingie?? the Fannie Mae/ Freddy Mac bailouts?

[clublights]

Felony Arson, public endangerment and possible Murder charges...
what a mature alternative.

welcome to prison sex

Someone's sarcasm meter is either not turned on .. or in need of MAJOR adjustment this morning ....

[Elhuero]

Felony Arson, public endangerment and possible Murder charges...
what a mature alternative.

welcome to prison sex

lol gosh now that I look at it that way I guess I'll never own a mortgage company.

btw great song

http://www.youtube.com/watch?v=F5sIXUbMgF0

[HBARleatherneck]

We dont know anyone around here who started his house on fire, now do we?

i guess we do.

oh, well

[Irving]

That whole bank bail out thingie?? the Fannie Mae/ Freddy Mac bailouts?

Did they claim that was a direct result of people not paying their mortgages? I don't remember. Well, now that I think about it, it must have been because the whole issue was putting people into homes when they couldn't afford them. The Bailout is a great example, but is that the only time there is a direct correlation?

[Elhuero]

Former firefighter, retired after I pulled the bodies of 2 kids out from under a bed because Ex-husband didnt get the house and didnt want to pay for it, set fire to the house.


yeah, Arson is really fucking funny.

are you a former firefighter because they canned you for being too uptight and driving your coworkers crazy?

cry harder and you can quench the flames of my arson with your tears.

[RobertB]

Do they build houses here far enough apart that you could burn one down without taking out all your neighbors, too?

[clublights]

The Bailout is a great example, but is that the only time there is a direct correlation?

Other then maybe bankruptcy .. tho I admittedly don't understand how that works out exactly.

I'm sure ( at least in my heart LOL ) that there have been other " federal programs" in the past to " help out " failing homeowners.

[TFOGGER]

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.

Repossessions and foreclosures are extremely expensive for the lender. For instance, a lender is owed $250,000 on a mortgage, it costs $50,000 to foreclose and evict the former "homeowners", and because of market conditions, the house sells for $135,000 at auction. The lender is out a very real $165,000. If the .gov bails them out because those expenses(x1000's), guess who gets the bill? If the lenders recover their losses through higher rates and fees, again, who gets to pay the bill? Yeah. You, me, and the rest of us who actually honor our debts.

[theGinsue]

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.

^^^ THIS is another of the major things that is wrong with America today. These people made a choice to buy a home but they didn't like the fact that they'd have to give up some of the luxuries of life (steak at a restaurant? Airboat? Casino? - Aside from an occasional steak at a restaurant, these are things I can't afford so I don't get to enjoy them).

“I tried to explain my situation to the lender, but they wouldn’t help,” said Mr. Pemberton’s mother, Wendy Pemberton, herself in foreclosure on a small house a few blocks away from her son’s. She stopped paying her mortgage two years ago after a bout with lung cancer. “They’re all crooks.”

Let's see, YOU signed a contract saying that YOU'd pay YOUR mortgage. YOU ran into hard times and are now failing to live up to YOUR obligations. So, that somehow makes THEM "crooks"? I just don't get it.

There is an attitude that is getting more prevalent where people are claiming "It's their [the lender's] fault. They should have known I was a bad risk." Like so many other folks who borrow money, these folks took out a second mortgage against the supposed value of their home so that they could blow it on other stuff. When their home was no longer worth anything near what they owed they claim that it's the lenders fault?! Really? I mean, really?! Their $1837/month payment (owing $280k) tells me that they enjoy living high on the hog and want luxuries but don't want to have to pay for them.

How about the mother of the guy covered in this story move in with the couple - since she's in foreclosure as well. She can have a room in their home and put the money she can afford into the pot with their money and they can actually make payments on one of the two homes.

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....

You were; and so was I. We were raised to honor our obligations.