Which the Old Gray Whore thinks is just fine; stupid effing liberals.
Posted on 06/01/2010 5:48:51 PM PDT by Kartographer
For Alex Pemberton and Susan Reboyras, foreclosure is becoming a way of life — something they did not want but are in no hurry to get out of.
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.
“Instead of the house dragging us down, it’s become a life raft,” said Mr. Pemberton, who stopped paying the mortgage on their house here last summer. “It’s really been a blessing.”
A growing number of the people whose homes are in foreclosure are refusing to slink away in shame. They are fashioning a sort of homemade mortgage modification, one that brings their payments all the way down to zero. They use the money they save to get back on their feet or just get by.
(Excerpt) Read more at nytimes.com ...
Everything will soon be FREE!!!!
Us working folks are now buying everyones way...Jeez.. I guess banks are not foreclosing?
This is not satire?
Outback steaks? Airboat trips?
W T H????
I insurance agent told me he had another client who stopped pay her mortgage well over a year ago when she told the bank she was moving out the told her not to as they wanted someone in the place and if she moved out and the place was damaged they would go after her for the damage so she has been living in the house rent free with the bank’s permission for going on I guess two yeras now.
>> “It’s really been a blessing.”
Where I come from it’s called THEFT.
Don’t you just love Obama’s America?
Thus, nothing will be free.
>> Us working folks are now buying everyones way...
Hey you think this is bad, wait ‘til you get the bill for the union pension fund bailout.
The whole problem is that government has made it very timeconsuming for lenders to act on the pledge collateral for loans and actually foreclose properties.
Some jurisdictions have placed moratoriums on the process.
Its a policy that can have long term unintended consequences, mainly making it harder for people to get loans and driving the interest rates up.
No, I’m not suprised that some people are taking advantage of the current situation.
America, land of the dependent and home of the bum.
[But the couple also refinanced at the height of the market, taking out cash to buy a truck they used as a contest prize for their hired animal trappers.
It was a stupid move by their lender, according to Mr. Pemberton. “They went outside their own guidelines on debt to income,” he said. “And when they did, they put themselves in jeopardy.]
Love the way he blames the lender. No doubt this guy is a Rat voter.
Maybe this lady wasn’t as crazy as we all thought she was:
The fact that banks aren’t throwing more of these people out on their a**es is proof positive that the banks got themselves into deeper doodoo than those they are foreclosing on.
My error this lady:
http://www.youtube.com/results?search_query=I+won%27t+have+to+worry+about+paying+my+mortgage&aq=f
These freeloaders should be hiding in shame and embarassment, not doing a NYT cover story about their new, free lifestyle. Having said that, I don’t have much sympathy for any bank that was stupid enough to lend to these deadbeats and millions other like them.
You know who the real victim is here—the one supporting these bums and indirectly paying the bonuses of the mortgage salesmen who lent to them? One guess: it starts with “T” and ends with “r” and has “axpaye” in the middle.
God help us all.
On the weekend real estate radio shows out here in CA, people regularly call in and say how they haven't made a payment in 30 - 40 months.
Just wait til the next wave of adjusting mortgages hits here shortly.
More of the same:
http://www.freerepublic.com/focus/f-news/2524759/posts
Some people here think it is just fine to do these things. The banks are crooks and deserve what they get they say.
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