creechrr… No, you are not alone, and this is definately what is wrong with our society today.
Too many people think it is their God-given right to “own” a home.
To SellingMyHome, you wrote:
Many people wanted the dream of home ownership, is that wrong? Now I find that I can save thousands of dollars a year by renting instead of owning this house whose value was allowed to fall because of bank’s greed.
???..whose value was allowed to fall because of bank’s greed.
Did you happen to check any charts detailing the parabolic rise in home values between 2001-2006? Did you think that would go on forever? Home values absolutely NEED to fall…they are (still) way out of wack with normal home price appreciation over historic norms.
In your thread you mentioned that you are maxing out your 401k but you are not saving anything in an emergency fund. Don’t you think it would be more prudent to cut back on your pre-tax savings so that you can put money in an emergency fund? If you or your wife lose a job, and needed immediate cash, you will pay a hefty penalty to access money in your 401K.
I rarely post here, but your repeated nasty (“blow me”) comments to any of the posters that disagree with your plan and call you out for your nonchalant attitude struck me wrong.
From what I read of your situation, you have the ability to fullfill the obligation you made to your creditor, but are choosing not to do so because it is financially advantageous for you to walk. Why is it a surprise to you that there would be people who do not condone this behavior? You say there is no morality involved…REALLY? I couldn’t in a million years default on an obligation I made regardless of how much of a hardship it would be for me…just not wired that way. You made a bad decision (and I am truly sorry you did), yet are not willing to accept the consequences of that decision AND expect people to support you.
My point is not to berate you, but to get you to stand back and realize that attacking people who don’t agree with you and your choices is insulting and immature.
