Most of these institutions have huge assets, but were experiencing self inflicted liquidity problems. Bank of America alone has 2.3 trillion in assets (not including customer deposits), but received only a tiny fraction of that (45 billion??)in emergency funds. As far as loaning money goes, I think the banks are a pretty safe risk. On the other hand if the government had loaned the money to the assetless, deadbeat home owners it truly would have been a giveaway.
I’ve noticed over the years that deadbeats always rationalize not paying back money that they borrowed in good faith. They delude themselves into thinking that they are justified in stiffing the lender. I’m not saying you’re a deadbeat, but I could see how someone might get that impression reading the rationalizations in some of your posts. You are entirely responsible for your predicament. The situation you are in is a very difficult one, but I think some of the posters here are unsympathetic because they think you may be a whiny deadbeat who blames others for his problems. Walking away from the home when you can still make payments is not the “right” thing to do, but it may be the best decision for you and your family. If you do it I recommend you don’t blame the “greedy” banks, realtors, etc. I think you will get a lot more moral support and respect from friends and family if you if you shoulder the blame. Good luck.
