Sorry Bill I didn’t force anyone to do anything. While I was running an engineering group I also owned a real estate brokerage. I told every client I had that I wouldn’t have bought and they still did. You see, they don’t blame others for their own mistakes.
Bill let me ask you a few questions…
Have you ever bought a car? If so then you knew the minute you drove off the lot the car was instantly worth less then the value of when you bought it. So did you stop making payments on that car? Now answer honestly Bill…
Second, when you bought the home, did you feel that the value would always go up Bill? Did you consider that the value may go down?
Third, Bill did someone force you to sign the loan documents? Were you coerced into signing?
Fourth, Bill do you know of any asset or stock or anything else where the value goes perpetually up all the time and forever?
Fifth, Bill did you stop making payments because of a hardship? Did you lose your job? Did you suffer some medical hardship? Were you defrauded by somebody? Did something happen to you that severely reduced your cash flow? Can you explain exactly why you stopped paying?
Sixth, Bill it is okay you stopped paying. However why didn’t you simply move out? If you said well the asset is depreciating so I am done with it, why didn’t you simply mail in the keys and move out?
So Bill you can call me whatever you want. I can write code, design ASICs, run engineering groups, I can sell real estate, lead teams of investors, and basically do whatever I want. When I make a bad decision financially, I live up to my obligation whether it is selling a property and taking a loss, or selling a stock or doing whatever needs to be done.
You on the other hand can tell us all why you should live for free when the rest of us either pay rent or pay a mortgage. You can hand over your keys and move out, but you choose not to. Why you do this, I don’t know? More then likely you feel entitled to live for free. You feel like you have given the bank all this money. That it is the banks fault, that it is the real estate industry’s fault. Right Bill? It is definitely someone elses fault that you signed the loan docs, so you Bill should get to live for free correct?
I am listening. Just give me a good reason why you should live for free? Why should any of us pay our mortgage? We all have suffered depreciation as well. See, if you wanna walk on your loan walk on your loan, no harm done, mail in the keys and go rent an apartment.