[quote=sdnerd][quote=ibjames]you guys are missing the point.. he’s not a FB.. he’s a guy that can afford his house, but now he sees other houses that are bigger and better, and NOW wants to get a loan mod because his house is even cheaper.
He’s not under financial duress.. he hasn’t lost his job, nothing.. he is looking and seeing the grass is greener and is willing to just dump his house so he can get a bigger house
If I remember correctly, it’s even cheaper than the rent he was paying at that time, he can afford it, he just wants something better now.
Which is just PURE greed[/quote]
I think this is the part where each individuals morals come in to play. This will be different for everyone.
At the end of the day, the agreement he entered into is what it is. It’s legally his option should he attempt to re-negotiate while the opportunity presents itself.
I can pay all my suppliers and vendors, and I’m not under any financial distress. But I sure as hell am going to push to re-negotiate every single business contract I’m under to bring it at least close to today’s market rates. They will lower their prices, or someone else will get my business. If it’s a valued partner, or someone I want to help keep in business then I’d be willing to pay more. These are all my choices.
The moral difference between the two is dependent on the individual.
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c’mon, you have to admit, negotiating contracts with suppliers and your home purchase is different. You can’t compare them as apples vs. apples. You are providing a service with your business, in order for you to stay in business is to keep costs low.
You buy your house, prices go down, you bail? Even though you can afford it? If he renegotiates, I’m at the point that I don’t care anymore, I’m telling coworkers to make sure they look into it. Why not?
I just wonder what is going to happen when they adjust the mortgages of people that can pay, kick out the people that can’t, and when the housing prices trend down a bit further and the people they just adjusted are pissed off again.. what are they going to do then.. nothing gets solved
