We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness; that to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed; that whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form as to them shall seem most likely to effect their Safety and Happiness. …No government has the right to create conditions under which people would be so desperate as to sign a document that incurs debt slavery.
A lot of people lost their biggest investment when the Liberals’ experiments with the housing market went kaput. They artificially inflated prices and value, forced loans to people who should not have had them, and bankrupted businesses when their antics caught up with them. Lost in the mix was the hardworking homeowner.
This is why I am not a Libertarian. I don't think “tough luck, now get out!” is the answer here. This is a person's home, not a big screen TV. I am all for forcing the banks to negotiate - the same banks that got billions in bailouts partially paid by that taxpayer borrower they are trying to kick out of their home. The issue is far more complex than some want to admit. There has to be a way to get the borrower and bank to come to an agreement - otherwise, demand the banks all write checks back to the taxpayer for the amount of their bailouts.
The terms of the document are clearly stated within the document. Obviously. If someone is fraudulently induced, that’s a different story. Otherwise, under what conditions would anybody be “desperate” to borrow money to purchase or refinance a piece of real estate? Nothing in the Declaration or the Constitution or any of its amendments absolves a citizen of being responsible for his lawfully incurred debts. Relief is provided under bankruptcy, but these same “desperate” people are frequently the same ones who refuse to seek legal protection in bankruptcy...perhaps because they’re concerned that their fraudulent mortgage applications (a federal crime)might be brought into evidence.