From the ZERO HEDGE website....thanks zero hedge!!
It’s a very bad idea to strip motivated, capable people of their dignity and then rub their noses in it.
In my 20s, not married, and I rent.
Wow. Thanks everyone way to totally mess up the country before you hand it over to my generation.
Good thing I’m armed.
I’m going to go drink heavily now, and see if I can say anything civil about this one...
Is there anyone else reporting on this that backs these allegations up? If it can be proven that Fannie Mae Execs were bonused on HAMP trials...
ping
But, this thought came up...if the feds bail-out the banks because the title and mortgage holder issues create a scenario where folks who do not have to do so default then where will the feds get the money? From us of course, so if we are paying for all those defaults then why should we continue to pay ours as well?
And this is all about the breakdown of the Honor System; you pay your bills, you pay your taxes, you don’t cheat at little things or big things. Now, we all run the risk of acting like Clintons or Kennedys.
Zer0 set the tone by stiffing the Auto bondholders. I now set the rules with which I deal with Zer0 bailout banks like BoA. If they don’t like it, go cry to Zer0.
Looks like middle America is thinking going Galt is a better and better idea...
I’m with Ilsa
If they want to know if the bank is paying attention- just stop making payments. Or make their payments into an escrow account.
What a joke! That's been the danger all along, with the government treating the Constitution and the Law like toilet paper. Having judges overturn Prop. 8 and other sane laws.
When the government doesn't obey the law, why should anyone else? Here's another aspect of that, the Obama Administration is working feverishly towards 'racial justice'. What they are doing is convincing white Americans that the Civil Rights movement was a hustle. It was a way to discriminate against whites.
This is the job of the GOP to turn this all around and actually communicate. We're doomed.
They’re Going Galt and don’t even know it. There’s thousands of ways to Go Galt. I urge everyone to Go Galt in every way that is feasible for them to do.
I, and many of my friends, are in exactly the same position.
Never late in 13 years on a mortgage payment, payed every tax, filled out every form, did everything exactly the way I was supposed to do it.
And now, it is obvious ... I was a sucker.
This government rewards the slackers, the corrupt, the criminals, the ones who skip out, don’t pay, who have an “inside” track, who don’t play by the rules.
And they use my money to fund it. And my money to fly that goddamn witch Pelosi in a 757 back and forth to California. No way I pay for this anymore.
F&^% it. My place is on the market, and even in this economy I have decent equity and have had several interested prospects in less than 2 weeks. Bought a couple of acres of land in the woods. I am scaling WAY back. I have no one to impress anymore.
This government has gotten all it is gonna get from me.
If we all stop paying our mortgages, the federal government would fall in a month. Hmm....
I don’t care how nice these people are, I don’t want to pay for their HAMP-whatever so they can live in a nice home on a golf course.
I’m sorry they got the run around, but as far as I’m concerned they were taking money from other taxpayers in order to keep their home and pay less per month.
Just because HAMP is another fed/gov scam (and if you did any research at all on it from the get go you would have known that) doesn’t excuse those who would use it.
Played by the rules my entire life, My house is at water level and I see no prospect of getting any equity back for 10 years.
The only thing stopping me is I'm three months away from being totally debt free but for the mortgage. After that, I may sell and break even and buy property out in the middle of nowhere and hunker down for the coming market and monetary crash
Mortgage Bankers Association Strategic Default
The Mortgage Bankers Association strategically defaults on its loan after shaming homeowners who do the same.
http://www.thedailyshow.com/watch/thu-october-7-2010/mortgage-bankers-association-strategic-default
Just this past week the checker at a local grocery store told us she moved to our location recently after letting their Phoenix area house go back to the bank that they'd paid $300,000 for and which was now worth $60,000. It's becoming the norm, not the exception. She told us there were only five occupied houses left on the gated community street where they lived. They rest of the houses were abandoned.
CWII Ping.
CWII Ping.