Oh well, I'm staying anyway
"...quemadmodum gladius neminem occidit, occidentis telum est." [...a sword never kills anybody; it's a tool in the killer's hand.] -- (Lucius Annaeus) Seneca "the Younger" (ca. 4 BC-65 AD)
“I regret that I have but one life to lose for my country.” ~ Nathan Hale (final words before being hanged by the British, September 22, 1776.)
If at first you don't succeed -- skydiving is not for you
Here's the part that illustrates just how flawed the thinking of these people is:They don't realize the bank LOSES on most foreclosures. They're already out the money they fronted you buy the house and typically don't get all of that back between your payments and how much they get from the sale of the house.If enacted, the initiative would state a finding that “foreclosure has become a method of increasing a lending institution, loan servicer, mortgagee, trustee and beneficiary’s bottom line and profits by turning borrowers out of their homes.”
Typical, foolish, illogical, mushy brained thinking from California. Makes me even more ashamed I was born there. My only defense is my dad was a Marine and my birth there wasn't by choice!
actually under the recent TARP program and the federal bailout it makes the bank MORE money.
They get to tack on administrative costs and the ORIGINAL value of the house as where originally they could only get resell value... which was causing banks to invert due to plummeting housing values