Posted on 06/27/2010 7:00:44 PM PDT by KentTrappedInLiberalSeattle
Un. Freaking. Believable.
Ping.
Further proof Liberalism is a Major Mental Disease!
Did he offer to take those who follow his advice into his , I assume, “already paid for” home?
What this says to me is that the media KNOWS thats what the Obama administration wants, and they are getting impatient about seeing it happen.
Media to America: “Hurry up and collapse allready!!!”
Some one should tell this ignaramous thats what the housing meltdown was all about.
Some one should tell this ignaramous thats what the housing meltdown was all about.
Banks will walk away from business deals when the terms no longer meet their agenda. Its all a numbers game to them, if they can make money off you then they will honor the deal. If they cannot then they will use the contractual terms to exit.
That said this is crazy.
The major banks are nobody’s friend other than their own. They’re not our friends any more than they are the leftists’.
Having her viewers stand in front of trains would be far more sincere.
There are Freepers here who argue about how great a decision it is to "just walk away" from their mortgage because "it was underwater", even though they could afford their payments.
They just felt their mortgage was like betting a football game, and if at halftime their team was behind...well......$%^$# the whole thing.
“The major banks are nobody’s friend other than their own. They’re not our friends any more than they are the leftists’.”
True, but remember the heads of most of the big banks ARE leftists.
My car isn't worth what it was when I bought it either but I still have to make a few payments. My mortgage is the same as it always was, except for the escrow account which covers real estate taxes, which keep edging onward and upward. No bankers there, just crackpot leftwing a-holes in the Statehouse, like this 'Ratigan turdblossom.
Any news entity with an ounce of integrity would fire this idiot for making provocation. But then again, this is PMSNBC.
It amazes me how many home-buyers were tied down with guns to their heads to buy houses that they couldn’t possibly afford.
It’s gotta be the bank’s fault! /s
It appears there is one sacrosanct area where our hard-fought freedoms don't extend.
Yeah that 20% unemployment hasn’t impacted anyone.
Someone should enforce the “Morals Clause” of young master Ratigan’s MSNBC contract.
This guy is a moron. When you give people this kind of dangerous financial advice, he should not be handed a forum.
First off, what he fails to mention is that, depending on which state you are in (recourse or non-recourse loan) these banks can hunt you down for the balance to your dying day. Whether you are living in the home or not!
Secondly, if by some miracle, you are able to convince a bank to forgive a chunk of the balance, he neglected to mention that you will find yourself on the receiving end of a tax obligation. That “forgiven” amount of money is taxable income and the IRS isn’t blessed with a lot of patience when you owe them.
Finally, I note he did not mention offering to co-sign for people who follow his stupid advice. Bankruptcy rules changed about 5 years ago and it’s now much harder to discharge debt that way. People who blindly follow his advice without consulting an attorney will need a co-signer in the future in order to buy a George Foreman Grill.
It’s fine and dandy to be mad at the banks, politicians, and other assorted culprits in this mess. But shooting your own foot off seems irresponsible.
I’d be surprised if MSNBC’s legal department didn’t pay him a brief visit sometime this week.
Exactly. I'm sure this idiot would be first in line.
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