North County Jim, who is footing the bill? I would argue that responsible people always end up footing the bill. If the government is investing in the lender / bank, then we the taxpayer are footing some portion of that loan mod. Or we, the responsible borrower pays for it in higher fees and rates passed along by the bank to cover its lending losses.
No I wouldn’t take advantage. See that is the problem, everyone is trying to take advantage of someone else and do they really believe no one gets screwed?
Justifications that everyone else is doing it does not make it right. Should I tell the IRS that everyone else is doing it when I cheat on my taxes or forget to pay? Well IRS tax guy, we have senators and our Treasury Secretary doing it and just getting a slap on the hand so I didn’t see the big deal. Where does the buck stop?
I’m really tired of people trying to meter their wrong against others wrongness and somehow justify their wrong is ok.
I mean no ill will to people who are in difficult financial decisions. However I think letting people fail in this country is the right thing to do. Somehow we as a society have come to think that everyone should win, everyone should own a home, everyone should drive a new car every 2 years. There is a reason why only so many people get into Harvard, and why we don’t hand out 10th place medals. People win, people lose. If you violate this rule of nature, there are consequences.
