A perfect storm brewing 2010-2012?

[pencilneck]

I agree. My point is that time may be running out for some of those playing kick the can.

Under current law, some people will be much better off if the bank forecloses before January 2013.

Currently:
If you are behind on your payments: Bad
If the bank forecloses: Bad
In the foreclosure, the bank forgives, say, $100k of debt: Bad

If they foreclose after December 31, 2012, in this scenario you would also then owe the IRS $38,000: That’s real bad

For some borrowers (those underwater, with recourse loans), its better to get out before then.

[jpinpb]

Is there a way to get around owing the IRS? I know you can’t file bankruptcy on them, but sometimes don’t they work w/you, reduce what you owe, payment plan? I guess if you bought another house in the interim, they could always file a lien on that.

[jpinpb]

Is there a way to get around owing the IRS? I know you can’t file bankruptcy on them, but sometimes don’t they work w/you, reduce what you owe, payment plan? I guess if you bought another house in the interim, they could always file a lien on that.

[jpinpb]

Is there a way to get around owing the IRS? I know you can’t file bankruptcy on them, but sometimes don’t they work w/you, reduce what you owe, payment plan? I guess if you bought another house in the interim, they could always file a lien on that.

[jpinpb]

Is there a way to get around owing the IRS? I know you can’t file bankruptcy on them, but sometimes don’t they work w/you, reduce what you owe, payment plan? I guess if you bought another house in the interim, they could always file a lien on that.

[jpinpb]

Is there a way to get around owing the IRS? I know you can’t file bankruptcy on them, but sometimes don’t they work w/you, reduce what you owe, payment plan? I guess if you bought another house in the interim, they could always file a lien on that.

[XBoxBoy]

[quote=briansd1]Stop the partisan attacks on Obama and the Democrats. Notice that the other side always fires the first volley.
[/quote]

Sorry, I must have missed that. Where did the original poster, pencilneck, blame Obama and the democrats in this thread?

But even though I missed that part, do me a favor, give some thought to not retaliating in kind. At the risk of sounding like an old curmudgeon, I’ll quote my Granddad, “two wrongs don’t make a right.”

What I can tell you though is that polarizing arguments, making them into good guys vs bad guys was something that Ronald Reagan did very well. And I guess if you like being compared to Ronald Reagan and you want to have debates at his level, well, then that’s fine. But if not, you might try to elevate the level of your discourse to take into consideration all the different views and not pigeon hole people into good guys vs bad guys. Just a thought.

[XBoxBoy]

[quote=briansd1]Stop the partisan attacks on Obama and the Democrats. Notice that the other side always fires the first volley.
[/quote]

Sorry, I must have missed that. Where did the original poster, pencilneck, blame Obama and the democrats in this thread?

But even though I missed that part, do me a favor, give some thought to not retaliating in kind. At the risk of sounding like an old curmudgeon, I’ll quote my Granddad, “two wrongs don’t make a right.”

What I can tell you though is that polarizing arguments, making them into good guys vs bad guys was something that Ronald Reagan did very well. And I guess if you like being compared to Ronald Reagan and you want to have debates at his level, well, then that’s fine. But if not, you might try to elevate the level of your discourse to take into consideration all the different views and not pigeon hole people into good guys vs bad guys. Just a thought.

[XBoxBoy]

[quote=briansd1]Stop the partisan attacks on Obama and the Democrats. Notice that the other side always fires the first volley.
[/quote]

Sorry, I must have missed that. Where did the original poster, pencilneck, blame Obama and the democrats in this thread?

But even though I missed that part, do me a favor, give some thought to not retaliating in kind. At the risk of sounding like an old curmudgeon, I’ll quote my Granddad, “two wrongs don’t make a right.”

What I can tell you though is that polarizing arguments, making them into good guys vs bad guys was something that Ronald Reagan did very well. And I guess if you like being compared to Ronald Reagan and you want to have debates at his level, well, then that’s fine. But if not, you might try to elevate the level of your discourse to take into consideration all the different views and not pigeon hole people into good guys vs bad guys. Just a thought.

[XBoxBoy]

[quote=briansd1]Stop the partisan attacks on Obama and the Democrats. Notice that the other side always fires the first volley.
[/quote]

Sorry, I must have missed that. Where did the original poster, pencilneck, blame Obama and the democrats in this thread?

But even though I missed that part, do me a favor, give some thought to not retaliating in kind. At the risk of sounding like an old curmudgeon, I’ll quote my Granddad, “two wrongs don’t make a right.”

What I can tell you though is that polarizing arguments, making them into good guys vs bad guys was something that Ronald Reagan did very well. And I guess if you like being compared to Ronald Reagan and you want to have debates at his level, well, then that’s fine. But if not, you might try to elevate the level of your discourse to take into consideration all the different views and not pigeon hole people into good guys vs bad guys. Just a thought.

[XBoxBoy]

[quote=briansd1]Stop the partisan attacks on Obama and the Democrats. Notice that the other side always fires the first volley.
[/quote]

Sorry, I must have missed that. Where did the original poster, pencilneck, blame Obama and the democrats in this thread?

But even though I missed that part, do me a favor, give some thought to not retaliating in kind. At the risk of sounding like an old curmudgeon, I’ll quote my Granddad, “two wrongs don’t make a right.”

What I can tell you though is that polarizing arguments, making them into good guys vs bad guys was something that Ronald Reagan did very well. And I guess if you like being compared to Ronald Reagan and you want to have debates at his level, well, then that’s fine. But if not, you might try to elevate the level of your discourse to take into consideration all the different views and not pigeon hole people into good guys vs bad guys. Just a thought.

[briansd1]

[quote=XBoxBoy]
Sorry, I must have missed that. Where did the original poster, pencilneck, blame Obama and the democrats in this thread?
[/quote]

I have to apologize to pencilneck if it was construed that way.

I shouldn’t mix the threads.

[quote=XBoxBoy]
But even though I missed that part, do me a favor, give some thought to not retaliating in kind. At the risk of sounding like an old curmudgeon, I’ll quote my Granddad, “two wrongs don’t make a right.”[/quote]

Your grandpa sounds like fine man.

[quote=XBoxBoy]
What I can tell you though is that polarizing arguments, making them into good guys vs bad guys was something that Ronald Reagan did very well. And I guess if you like being compared to Ronald Reagan and you want to have debates at his level, well, then that’s fine. But if not, you might try to elevate the level of your discourse to take into consideration all the different views and not pigeon hole people into good guys vs bad guys. Just a thought.[/quote]

Advise well taken… I like you already. 🙂

[briansd1]

[quote=XBoxBoy]
Sorry, I must have missed that. Where did the original poster, pencilneck, blame Obama and the democrats in this thread?
[/quote]

I have to apologize to pencilneck if it was construed that way.

I shouldn’t mix the threads.

[quote=XBoxBoy]
But even though I missed that part, do me a favor, give some thought to not retaliating in kind. At the risk of sounding like an old curmudgeon, I’ll quote my Granddad, “two wrongs don’t make a right.”[/quote]

Your grandpa sounds like fine man.

[quote=XBoxBoy]
What I can tell you though is that polarizing arguments, making them into good guys vs bad guys was something that Ronald Reagan did very well. And I guess if you like being compared to Ronald Reagan and you want to have debates at his level, well, then that’s fine. But if not, you might try to elevate the level of your discourse to take into consideration all the different views and not pigeon hole people into good guys vs bad guys. Just a thought.[/quote]

Advise well taken… I like you already. 🙂

[briansd1]

[quote=XBoxBoy]
Sorry, I must have missed that. Where did the original poster, pencilneck, blame Obama and the democrats in this thread?
[/quote]

I have to apologize to pencilneck if it was construed that way.

I shouldn’t mix the threads.

[quote=XBoxBoy]
But even though I missed that part, do me a favor, give some thought to not retaliating in kind. At the risk of sounding like an old curmudgeon, I’ll quote my Granddad, “two wrongs don’t make a right.”[/quote]

Your grandpa sounds like fine man.

[quote=XBoxBoy]
What I can tell you though is that polarizing arguments, making them into good guys vs bad guys was something that Ronald Reagan did very well. And I guess if you like being compared to Ronald Reagan and you want to have debates at his level, well, then that’s fine. But if not, you might try to elevate the level of your discourse to take into consideration all the different views and not pigeon hole people into good guys vs bad guys. Just a thought.[/quote]

Advise well taken… I like you already. 🙂

[briansd1]

[quote=XBoxBoy]
Sorry, I must have missed that. Where did the original poster, pencilneck, blame Obama and the democrats in this thread?
[/quote]

I have to apologize to pencilneck if it was construed that way.

I shouldn’t mix the threads.

[quote=XBoxBoy]
But even though I missed that part, do me a favor, give some thought to not retaliating in kind. At the risk of sounding like an old curmudgeon, I’ll quote my Granddad, “two wrongs don’t make a right.”[/quote]

Your grandpa sounds like fine man.

[quote=XBoxBoy]
What I can tell you though is that polarizing arguments, making them into good guys vs bad guys was something that Ronald Reagan did very well. And I guess if you like being compared to Ronald Reagan and you want to have debates at his level, well, then that’s fine. But if not, you might try to elevate the level of your discourse to take into consideration all the different views and not pigeon hole people into good guys vs bad guys. Just a thought.[/quote]

Advise well taken… I like you already. 🙂

[Author]

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