“ATTENTION PEOPLE OF PHILADELPHIA – YOU NO LONGER HAVE TO PAY YOUR MORTGAGES! “

[waiting hawk]

Philadelphia suspends sales of foreclosed homes

http://www.reuters.com/article/gc03/idUSN2830318520080328

[kewp]

Let me know when I don’t have to pay rent anymore.

[PadreBrian]

WTF. A city council has ZERO say in the matter. Bush will have to step in and let them know this.

[jpinpb]

WTF – right. This is BS. Unreal. I can’t believe this. What if all cities decide to do this. No $hit. I’ll stop paying rent. One BS strategy after another. Save the idiots. I have an idea so they won’t be homeless. Let’s throw them all in jail for fraud.

[pka4lif]

If the Sherriff doesn’t evict people what are the banks going to do?

[PadreBrian]

They will stop issuing loans in that area. That’s what. Basically the US turns into a 3rd world country. Brazil did this and economic chaos took over. Bush will have to stop it, he can have a judge over turn it…and send national guard troops if things get out of hand.

[waiting hawk]

lol ya you would be telling lenders that they cannot assume thier assets while it loses more value while waiting to reach a payment agreement with someone that wont even call you. Last I checked ~50% of all people in foreclosure never even call them. I hope California takes this on as lenders wont lend in these areas createing a cash only demand. Sign me up!

[Stradivarius]

I moved to SD from Philly about a year ago (don’t worry, renting), so the result of this overly bold maneuver may affect the welfare of my friends and family who reside there.

It seems that most of these foreclosures are doomed for eventual sale anyway, so isn’t it just postponing the inevitable? And when this “unspecified period” ends, is there going to be a huge flood of foreclosures that have been backed up the entire time? Unconstitutional or not, this order doesn’t seem to help borrowers or lenders in the long run. It’s like putting a band-aid on a volcano.

Please enlighten me if I am thinking incorrectly; I am not very experienced in this field.

-S

[temeculaguy]

Another city tried to make a regulation about home loans a few years back, I think it was in the South and it was something to do with not allowing banks to charge PMI or something. The result was three months where not a single loan was approved and national lenders just refused to loan money to people in that area. The locality gave up after they realized they were doing more harm than good and they can’t legislate private companies into losing money.

Philly will cause the same thing to happen, no new loans will be initiated because the lenders will have no options if they arent paid back, they will just blacklist Philly. Those who are only mildly struggling, making their payments but needing to refi out of a toxic loan will be turned down because of their wacky city council, I give it 90 days, tops.

This is not the first time a government entity had tried to deny the invisible hand of economics, it’s never worked before and it wont work now.

[EconProf]

BobS
This is insane. Investors and lenders worldwide will run, not walk, away from US mortgages. The risk premium built into interest rates will naturally rise for homebuyers. ACORN and other feel good liberals will do great harm to lower and middle income families who seek to become homeowners.

[peterb]

With no financing available….prices will really tank. Cash will be king. Hey, maybe the US $ will be worth something after all?

[peterb]

With no financing available….prices will really tank. Cash will be king. Hey, maybe the US $ will be worth something after all?

[peterb]

With no financing available….prices will really tank. Cash will be king. Hey, maybe the US $ will be worth something after all?

[peterb]

With no financing available….prices will really tank. Cash will be king. Hey, maybe the US $ will be worth something after all?

[peterb]

With no financing available….prices will really tank. Cash will be king. Hey, maybe the US $ will be worth something after all?

[EconProf]

BobS
This is insane. Investors and lenders worldwide will run, not walk, away from US mortgages. The risk premium built into interest rates will naturally rise for homebuyers. ACORN and other feel good liberals will do great harm to lower and middle income families who seek to become homeowners.

[EconProf]

BobS
This is insane. Investors and lenders worldwide will run, not walk, away from US mortgages. The risk premium built into interest rates will naturally rise for homebuyers. ACORN and other feel good liberals will do great harm to lower and middle income families who seek to become homeowners.

[EconProf]

BobS
This is insane. Investors and lenders worldwide will run, not walk, away from US mortgages. The risk premium built into interest rates will naturally rise for homebuyers. ACORN and other feel good liberals will do great harm to lower and middle income families who seek to become homeowners.

[EconProf]

BobS
This is insane. Investors and lenders worldwide will run, not walk, away from US mortgages. The risk premium built into interest rates will naturally rise for homebuyers. ACORN and other feel good liberals will do great harm to lower and middle income families who seek to become homeowners.

[equalizer]

TG,

Philadelphia Ordinance An ordinance banning predatory lending, banning public investment in predatory lenders, and requiring loan counseling for borrowers of high-cost loans was passed by the unanimous vote of the Philadelphia City Council in April 2001. It was overturned by state legislation in June 2001.

A working reseach paper looked into loan laws: "State and Local Anti-Predatory Lending Laws: The Effect of Legal Enforcement Mechanisms" http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1005423 Very detailed analysis shows that laws have some effect, but do NOT drive out supply. North Carolina's tough law did not reduce supply overall, for people under 50K, yes it did, for people over 50K income, supply went up.

There was a story in WSJ last month about parties to blame for the loan mess. A few members of Congress tried for some regulation of mortgage industry as did some states. The housing lobby killed all bills and the one that did pass in one state, the lending industy BLACKMAILED the state to repeal the bill. So, this bill may be junk, but it happened becuase the lobby killed good bills years back. http://online.wsj.com/article/SB120406115972594515.html

GA had the tough anti-predatory law that would place buyer of predatory loan at risk (aks stolen property) and S&P and Fitch blackmailed the state so they watered it down. Funny how S&P and Fitch were WHOLLY resposible for this subprime mess, yet they interefered with state law that would likely have reduced the mess in the first place. http://econospeak.blogspot.com/2008/01/regulatory-neglect-and-subprime.html

[temeculaguy]

See that’s why I need not post things past midnight after a night of drinking, but thank you for the links equlizer. All of them make valid points but my economic beliefs are vintage Adam Smith. Lobbyists, corporate evildoers will be had by karma as will the fb’s. Government over-control of markets always fails, blackmailing or however you want to paint it, it’s still a defense to meddling in the market as much as it was meddling itself and it never works for either side. Lenders that took risks are licking their wounds right now, borrowers who shouldn’t have are doing the same, who are you to prevent them from learning lessons, there were no gun pointed at anyone’s head and that is when the gov’t should step in, not before.

Lets say every locality could adopt protectionist mortgage rules, would that benefit you and I, no it wont. The government cannot make stupid people smart, it cannot eliminate risk and it certainly cannot control markets without penalty.

All human situations have their inconveniences. We feel those of the present but neither see nor feel those of the future; and hence we often make troublesome changes without amendment, and frequently for the worse. -Benjamin Franklin

[Aecetia]

When businesses were burned in the L.A. riots, many did not return. I think this is in effect the same tactic, but this time the businesses are being burned by the government. I think the outcome will be the same. They will leave and not return until the law changes.

[Aecetia]

When businesses were burned in the L.A. riots, many did not return. I think this is in effect the same tactic, but this time the businesses are being burned by the government. I think the outcome will be the same. They will leave and not return until the law changes.

[Aecetia]

When businesses were burned in the L.A. riots, many did not return. I think this is in effect the same tactic, but this time the businesses are being burned by the government. I think the outcome will be the same. They will leave and not return until the law changes.

[Aecetia]

When businesses were burned in the L.A. riots, many did not return. I think this is in effect the same tactic, but this time the businesses are being burned by the government. I think the outcome will be the same. They will leave and not return until the law changes.

[Aecetia]

When businesses were burned in the L.A. riots, many did not return. I think this is in effect the same tactic, but this time the businesses are being burned by the government. I think the outcome will be the same. They will leave and not return until the law changes.

[temeculaguy]

See that’s why I need not post things past midnight after a night of drinking, but thank you for the links equlizer. All of them make valid points but my economic beliefs are vintage Adam Smith. Lobbyists, corporate evildoers will be had by karma as will the fb’s. Government over-control of markets always fails, blackmailing or however you want to paint it, it’s still a defense to meddling in the market as much as it was meddling itself and it never works for either side. Lenders that took risks are licking their wounds right now, borrowers who shouldn’t have are doing the same, who are you to prevent them from learning lessons, there were no gun pointed at anyone’s head and that is when the gov’t should step in, not before.

Lets say every locality could adopt protectionist mortgage rules, would that benefit you and I, no it wont. The government cannot make stupid people smart, it cannot eliminate risk and it certainly cannot control markets without penalty.

All human situations have their inconveniences. We feel those of the present but neither see nor feel those of the future; and hence we often make troublesome changes without amendment, and frequently for the worse. -Benjamin Franklin

[temeculaguy]

See that’s why I need not post things past midnight after a night of drinking, but thank you for the links equlizer. All of them make valid points but my economic beliefs are vintage Adam Smith. Lobbyists, corporate evildoers will be had by karma as will the fb’s. Government over-control of markets always fails, blackmailing or however you want to paint it, it’s still a defense to meddling in the market as much as it was meddling itself and it never works for either side. Lenders that took risks are licking their wounds right now, borrowers who shouldn’t have are doing the same, who are you to prevent them from learning lessons, there were no gun pointed at anyone’s head and that is when the gov’t should step in, not before.

Lets say every locality could adopt protectionist mortgage rules, would that benefit you and I, no it wont. The government cannot make stupid people smart, it cannot eliminate risk and it certainly cannot control markets without penalty.

All human situations have their inconveniences. We feel those of the present but neither see nor feel those of the future; and hence we often make troublesome changes without amendment, and frequently for the worse. -Benjamin Franklin

[temeculaguy]

See that’s why I need not post things past midnight after a night of drinking, but thank you for the links equlizer. All of them make valid points but my economic beliefs are vintage Adam Smith. Lobbyists, corporate evildoers will be had by karma as will the fb’s. Government over-control of markets always fails, blackmailing or however you want to paint it, it’s still a defense to meddling in the market as much as it was meddling itself and it never works for either side. Lenders that took risks are licking their wounds right now, borrowers who shouldn’t have are doing the same, who are you to prevent them from learning lessons, there were no gun pointed at anyone’s head and that is when the gov’t should step in, not before.

Lets say every locality could adopt protectionist mortgage rules, would that benefit you and I, no it wont. The government cannot make stupid people smart, it cannot eliminate risk and it certainly cannot control markets without penalty.

All human situations have their inconveniences. We feel those of the present but neither see nor feel those of the future; and hence we often make troublesome changes without amendment, and frequently for the worse. -Benjamin Franklin

[temeculaguy]

See that’s why I need not post things past midnight after a night of drinking, but thank you for the links equlizer. All of them make valid points but my economic beliefs are vintage Adam Smith. Lobbyists, corporate evildoers will be had by karma as will the fb’s. Government over-control of markets always fails, blackmailing or however you want to paint it, it’s still a defense to meddling in the market as much as it was meddling itself and it never works for either side. Lenders that took risks are licking their wounds right now, borrowers who shouldn’t have are doing the same, who are you to prevent them from learning lessons, there were no gun pointed at anyone’s head and that is when the gov’t should step in, not before.

Lets say every locality could adopt protectionist mortgage rules, would that benefit you and I, no it wont. The government cannot make stupid people smart, it cannot eliminate risk and it certainly cannot control markets without penalty.

All human situations have their inconveniences. We feel those of the present but neither see nor feel those of the future; and hence we often make troublesome changes without amendment, and frequently for the worse. -Benjamin Franklin

[equalizer]

TG,

Philadelphia Ordinance An ordinance banning predatory lending, banning public investment in predatory lenders, and requiring loan counseling for borrowers of high-cost loans was passed by the unanimous vote of the Philadelphia City Council in April 2001. It was overturned by state legislation in June 2001.

A working reseach paper looked into loan laws: "State and Local Anti-Predatory Lending Laws: The Effect of Legal Enforcement Mechanisms" http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1005423 Very detailed analysis shows that laws have some effect, but do NOT drive out supply. North Carolina's tough law did not reduce supply overall, for people under 50K, yes it did, for people over 50K income, supply went up.

There was a story in WSJ last month about parties to blame for the loan mess. A few members of Congress tried for some regulation of mortgage industry as did some states. The housing lobby killed all bills and the one that did pass in one state, the lending industy BLACKMAILED the state to repeal the bill. So, this bill may be junk, but it happened becuase the lobby killed good bills years back. http://online.wsj.com/article/SB120406115972594515.html

GA had the tough anti-predatory law that would place buyer of predatory loan at risk (aks stolen property) and S&P and Fitch blackmailed the state so they watered it down. Funny how S&P and Fitch were WHOLLY resposible for this subprime mess, yet they interefered with state law that would likely have reduced the mess in the first place. http://econospeak.blogspot.com/2008/01/regulatory-neglect-and-subprime.html

[equalizer]

TG,

Philadelphia Ordinance An ordinance banning predatory lending, banning public investment in predatory lenders, and requiring loan counseling for borrowers of high-cost loans was passed by the unanimous vote of the Philadelphia City Council in April 2001. It was overturned by state legislation in June 2001.

A working reseach paper looked into loan laws: "State and Local Anti-Predatory Lending Laws: The Effect of Legal Enforcement Mechanisms" http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1005423 Very detailed analysis shows that laws have some effect, but do NOT drive out supply. North Carolina's tough law did not reduce supply overall, for people under 50K, yes it did, for people over 50K income, supply went up.

There was a story in WSJ last month about parties to blame for the loan mess. A few members of Congress tried for some regulation of mortgage industry as did some states. The housing lobby killed all bills and the one that did pass in one state, the lending industy BLACKMAILED the state to repeal the bill. So, this bill may be junk, but it happened becuase the lobby killed good bills years back. http://online.wsj.com/article/SB120406115972594515.html

GA had the tough anti-predatory law that would place buyer of predatory loan at risk (aks stolen property) and S&P and Fitch blackmailed the state so they watered it down. Funny how S&P and Fitch were WHOLLY resposible for this subprime mess, yet they interefered with state law that would likely have reduced the mess in the first place. http://econospeak.blogspot.com/2008/01/regulatory-neglect-and-subprime.html

[equalizer]

TG,

Philadelphia Ordinance An ordinance banning predatory lending, banning public investment in predatory lenders, and requiring loan counseling for borrowers of high-cost loans was passed by the unanimous vote of the Philadelphia City Council in April 2001. It was overturned by state legislation in June 2001.

A working reseach paper looked into loan laws: "State and Local Anti-Predatory Lending Laws: The Effect of Legal Enforcement Mechanisms" http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1005423 Very detailed analysis shows that laws have some effect, but do NOT drive out supply. North Carolina's tough law did not reduce supply overall, for people under 50K, yes it did, for people over 50K income, supply went up.

There was a story in WSJ last month about parties to blame for the loan mess. A few members of Congress tried for some regulation of mortgage industry as did some states. The housing lobby killed all bills and the one that did pass in one state, the lending industy BLACKMAILED the state to repeal the bill. So, this bill may be junk, but it happened becuase the lobby killed good bills years back. http://online.wsj.com/article/SB120406115972594515.html

GA had the tough anti-predatory law that would place buyer of predatory loan at risk (aks stolen property) and S&P and Fitch blackmailed the state so they watered it down. Funny how S&P and Fitch were WHOLLY resposible for this subprime mess, yet they interefered with state law that would likely have reduced the mess in the first place. http://econospeak.blogspot.com/2008/01/regulatory-neglect-and-subprime.html

[equalizer]

TG,

Philadelphia Ordinance An ordinance banning predatory lending, banning public investment in predatory lenders, and requiring loan counseling for borrowers of high-cost loans was passed by the unanimous vote of the Philadelphia City Council in April 2001. It was overturned by state legislation in June 2001.

A working reseach paper looked into loan laws: "State and Local Anti-Predatory Lending Laws: The Effect of Legal Enforcement Mechanisms" http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1005423 Very detailed analysis shows that laws have some effect, but do NOT drive out supply. North Carolina's tough law did not reduce supply overall, for people under 50K, yes it did, for people over 50K income, supply went up.

There was a story in WSJ last month about parties to blame for the loan mess. A few members of Congress tried for some regulation of mortgage industry as did some states. The housing lobby killed all bills and the one that did pass in one state, the lending industy BLACKMAILED the state to repeal the bill. So, this bill may be junk, but it happened becuase the lobby killed good bills years back. http://online.wsj.com/article/SB120406115972594515.html

GA had the tough anti-predatory law that would place buyer of predatory loan at risk (aks stolen property) and S&P and Fitch blackmailed the state so they watered it down. Funny how S&P and Fitch were WHOLLY resposible for this subprime mess, yet they interefered with state law that would likely have reduced the mess in the first place. http://econospeak.blogspot.com/2008/01/regulatory-neglect-and-subprime.html

[temeculaguy]

Another city tried to make a regulation about home loans a few years back, I think it was in the South and it was something to do with not allowing banks to charge PMI or something. The result was three months where not a single loan was approved and national lenders just refused to loan money to people in that area. The locality gave up after they realized they were doing more harm than good and they can’t legislate private companies into losing money.

Philly will cause the same thing to happen, no new loans will be initiated because the lenders will have no options if they arent paid back, they will just blacklist Philly. Those who are only mildly struggling, making their payments but needing to refi out of a toxic loan will be turned down because of their wacky city council, I give it 90 days, tops.

This is not the first time a government entity had tried to deny the invisible hand of economics, it’s never worked before and it wont work now.

[temeculaguy]

Another city tried to make a regulation about home loans a few years back, I think it was in the South and it was something to do with not allowing banks to charge PMI or something. The result was three months where not a single loan was approved and national lenders just refused to loan money to people in that area. The locality gave up after they realized they were doing more harm than good and they can’t legislate private companies into losing money.

Philly will cause the same thing to happen, no new loans will be initiated because the lenders will have no options if they arent paid back, they will just blacklist Philly. Those who are only mildly struggling, making their payments but needing to refi out of a toxic loan will be turned down because of their wacky city council, I give it 90 days, tops.

This is not the first time a government entity had tried to deny the invisible hand of economics, it’s never worked before and it wont work now.

[temeculaguy]

Another city tried to make a regulation about home loans a few years back, I think it was in the South and it was something to do with not allowing banks to charge PMI or something. The result was three months where not a single loan was approved and national lenders just refused to loan money to people in that area. The locality gave up after they realized they were doing more harm than good and they can’t legislate private companies into losing money.

Philly will cause the same thing to happen, no new loans will be initiated because the lenders will have no options if they arent paid back, they will just blacklist Philly. Those who are only mildly struggling, making their payments but needing to refi out of a toxic loan will be turned down because of their wacky city council, I give it 90 days, tops.

This is not the first time a government entity had tried to deny the invisible hand of economics, it’s never worked before and it wont work now.

[temeculaguy]

Another city tried to make a regulation about home loans a few years back, I think it was in the South and it was something to do with not allowing banks to charge PMI or something. The result was three months where not a single loan was approved and national lenders just refused to loan money to people in that area. The locality gave up after they realized they were doing more harm than good and they can’t legislate private companies into losing money.

Philly will cause the same thing to happen, no new loans will be initiated because the lenders will have no options if they arent paid back, they will just blacklist Philly. Those who are only mildly struggling, making their payments but needing to refi out of a toxic loan will be turned down because of their wacky city council, I give it 90 days, tops.

This is not the first time a government entity had tried to deny the invisible hand of economics, it’s never worked before and it wont work now.

[Stradivarius]

I moved to SD from Philly about a year ago (don’t worry, renting), so the result of this overly bold maneuver may affect the welfare of my friends and family who reside there.

It seems that most of these foreclosures are doomed for eventual sale anyway, so isn’t it just postponing the inevitable? And when this “unspecified period” ends, is there going to be a huge flood of foreclosures that have been backed up the entire time? Unconstitutional or not, this order doesn’t seem to help borrowers or lenders in the long run. It’s like putting a band-aid on a volcano.

Please enlighten me if I am thinking incorrectly; I am not very experienced in this field.

-S

[Stradivarius]

I moved to SD from Philly about a year ago (don’t worry, renting), so the result of this overly bold maneuver may affect the welfare of my friends and family who reside there.

It seems that most of these foreclosures are doomed for eventual sale anyway, so isn’t it just postponing the inevitable? And when this “unspecified period” ends, is there going to be a huge flood of foreclosures that have been backed up the entire time? Unconstitutional or not, this order doesn’t seem to help borrowers or lenders in the long run. It’s like putting a band-aid on a volcano.

Please enlighten me if I am thinking incorrectly; I am not very experienced in this field.

-S

[Stradivarius]

I moved to SD from Philly about a year ago (don’t worry, renting), so the result of this overly bold maneuver may affect the welfare of my friends and family who reside there.

It seems that most of these foreclosures are doomed for eventual sale anyway, so isn’t it just postponing the inevitable? And when this “unspecified period” ends, is there going to be a huge flood of foreclosures that have been backed up the entire time? Unconstitutional or not, this order doesn’t seem to help borrowers or lenders in the long run. It’s like putting a band-aid on a volcano.

Please enlighten me if I am thinking incorrectly; I am not very experienced in this field.

-S

[Stradivarius]

I moved to SD from Philly about a year ago (don’t worry, renting), so the result of this overly bold maneuver may affect the welfare of my friends and family who reside there.

It seems that most of these foreclosures are doomed for eventual sale anyway, so isn’t it just postponing the inevitable? And when this “unspecified period” ends, is there going to be a huge flood of foreclosures that have been backed up the entire time? Unconstitutional or not, this order doesn’t seem to help borrowers or lenders in the long run. It’s like putting a band-aid on a volcano.

Please enlighten me if I am thinking incorrectly; I am not very experienced in this field.

-S

[waiting hawk]

lol ya you would be telling lenders that they cannot assume thier assets while it loses more value while waiting to reach a payment agreement with someone that wont even call you. Last I checked ~50% of all people in foreclosure never even call them. I hope California takes this on as lenders wont lend in these areas createing a cash only demand. Sign me up!

[waiting hawk]

lol ya you would be telling lenders that they cannot assume thier assets while it loses more value while waiting to reach a payment agreement with someone that wont even call you. Last I checked ~50% of all people in foreclosure never even call them. I hope California takes this on as lenders wont lend in these areas createing a cash only demand. Sign me up!

[waiting hawk]

lol ya you would be telling lenders that they cannot assume thier assets while it loses more value while waiting to reach a payment agreement with someone that wont even call you. Last I checked ~50% of all people in foreclosure never even call them. I hope California takes this on as lenders wont lend in these areas createing a cash only demand. Sign me up!

[waiting hawk]

lol ya you would be telling lenders that they cannot assume thier assets while it loses more value while waiting to reach a payment agreement with someone that wont even call you. Last I checked ~50% of all people in foreclosure never even call them. I hope California takes this on as lenders wont lend in these areas createing a cash only demand. Sign me up!

[PadreBrian]

They will stop issuing loans in that area. That’s what. Basically the US turns into a 3rd world country. Brazil did this and economic chaos took over. Bush will have to stop it, he can have a judge over turn it…and send national guard troops if things get out of hand.

[PadreBrian]

They will stop issuing loans in that area. That’s what. Basically the US turns into a 3rd world country. Brazil did this and economic chaos took over. Bush will have to stop it, he can have a judge over turn it…and send national guard troops if things get out of hand.

[PadreBrian]

They will stop issuing loans in that area. That’s what. Basically the US turns into a 3rd world country. Brazil did this and economic chaos took over. Bush will have to stop it, he can have a judge over turn it…and send national guard troops if things get out of hand.

[PadreBrian]

They will stop issuing loans in that area. That’s what. Basically the US turns into a 3rd world country. Brazil did this and economic chaos took over. Bush will have to stop it, he can have a judge over turn it…and send national guard troops if things get out of hand.

[Anonymous]

The banks could start bouncing checks from the city council.

[Anonymous]

The banks could start bouncing checks from the city council.

[Anonymous]

The banks could start bouncing checks from the city council.

[Anonymous]

The banks could start bouncing checks from the city council.

[Anonymous]

The banks could start bouncing checks from the city council.

[pka4lif]

If the Sherriff doesn’t evict people what are the banks going to do?

[pka4lif]

If the Sherriff doesn’t evict people what are the banks going to do?

[pka4lif]

If the Sherriff doesn’t evict people what are the banks going to do?

[pka4lif]

If the Sherriff doesn’t evict people what are the banks going to do?

[sd-maybe]

WTF – right. This is BS. Unreal. I can’t believe this. What if all cities decide to do this. No $hit. I’ll stop paying rent. One BS strategy after another. Save the idiots. I have an idea so they won’t be homeless. Let’s throw them all in jail for fraud.

You’re onto something there, so these political opportunists had better tread carefully. When the responsible people who fullfill their obligations decide “why should I bother if every dirtbag gets bailed out” and decides to stop paying…then the entire system collapses…and the powers that be know it.

[sd-maybe]

WTF – right. This is BS. Unreal. I can’t believe this. What if all cities decide to do this. No $hit. I’ll stop paying rent. One BS strategy after another. Save the idiots. I have an idea so they won’t be homeless. Let’s throw them all in jail for fraud.

You’re onto something there, so these political opportunists had better tread carefully. When the responsible people who fullfill their obligations decide “why should I bother if every dirtbag gets bailed out” and decides to stop paying…then the entire system collapses…and the powers that be know it.

[sd-maybe]

WTF – right. This is BS. Unreal. I can’t believe this. What if all cities decide to do this. No $hit. I’ll stop paying rent. One BS strategy after another. Save the idiots. I have an idea so they won’t be homeless. Let’s throw them all in jail for fraud.

You’re onto something there, so these political opportunists had better tread carefully. When the responsible people who fullfill their obligations decide “why should I bother if every dirtbag gets bailed out” and decides to stop paying…then the entire system collapses…and the powers that be know it.

[sd-maybe]

WTF – right. This is BS. Unreal. I can’t believe this. What if all cities decide to do this. No $hit. I’ll stop paying rent. One BS strategy after another. Save the idiots. I have an idea so they won’t be homeless. Let’s throw them all in jail for fraud.

You’re onto something there, so these political opportunists had better tread carefully. When the responsible people who fullfill their obligations decide “why should I bother if every dirtbag gets bailed out” and decides to stop paying…then the entire system collapses…and the powers that be know it.

[sd-maybe]

WTF – right. This is BS. Unreal. I can’t believe this. What if all cities decide to do this. No $hit. I’ll stop paying rent. One BS strategy after another. Save the idiots. I have an idea so they won’t be homeless. Let’s throw them all in jail for fraud.

You’re onto something there, so these political opportunists had better tread carefully. When the responsible people who fullfill their obligations decide “why should I bother if every dirtbag gets bailed out” and decides to stop paying…then the entire system collapses…and the powers that be know it.

[jpinpb]

WTF – right. This is BS. Unreal. I can’t believe this. What if all cities decide to do this. No $hit. I’ll stop paying rent. One BS strategy after another. Save the idiots. I have an idea so they won’t be homeless. Let’s throw them all in jail for fraud.

[jpinpb]

WTF – right. This is BS. Unreal. I can’t believe this. What if all cities decide to do this. No $hit. I’ll stop paying rent. One BS strategy after another. Save the idiots. I have an idea so they won’t be homeless. Let’s throw them all in jail for fraud.

[jpinpb]

WTF – right. This is BS. Unreal. I can’t believe this. What if all cities decide to do this. No $hit. I’ll stop paying rent. One BS strategy after another. Save the idiots. I have an idea so they won’t be homeless. Let’s throw them all in jail for fraud.

[jpinpb]

WTF – right. This is BS. Unreal. I can’t believe this. What if all cities decide to do this. No $hit. I’ll stop paying rent. One BS strategy after another. Save the idiots. I have an idea so they won’t be homeless. Let’s throw them all in jail for fraud.

[PadreBrian]

WTF. A city council has ZERO say in the matter. Bush will have to step in and let them know this.

[PadreBrian]

WTF. A city council has ZERO say in the matter. Bush will have to step in and let them know this.

[PadreBrian]

WTF. A city council has ZERO say in the matter. Bush will have to step in and let them know this.

[PadreBrian]

WTF. A city council has ZERO say in the matter. Bush will have to step in and let them know this.

[kewp]

Let me know when I don’t have to pay rent anymore.

[kewp]

Let me know when I don’t have to pay rent anymore.

[kewp]

Let me know when I don’t have to pay rent anymore.

[kewp]

Let me know when I don’t have to pay rent anymore.

[Navydoc]

Gosh, now I feel like an idiot. A few years ago my mother, who lives near Philly, was considering taking equity out of her home and I foolishly convinced her to pay it off! I hope she’s still talking to me…..

[Navydoc]

Gosh, now I feel like an idiot. A few years ago my mother, who lives near Philly, was considering taking equity out of her home and I foolishly convinced her to pay it off! I hope she’s still talking to me…..

[Navydoc]

Gosh, now I feel like an idiot. A few years ago my mother, who lives near Philly, was considering taking equity out of her home and I foolishly convinced her to pay it off! I hope she’s still talking to me…..

[Navydoc]

Gosh, now I feel like an idiot. A few years ago my mother, who lives near Philly, was considering taking equity out of her home and I foolishly convinced her to pay it off! I hope she’s still talking to me…..

[Navydoc]

Gosh, now I feel like an idiot. A few years ago my mother, who lives near Philly, was considering taking equity out of her home and I foolishly convinced her to pay it off! I hope she’s still talking to me…..

[sd-maybe]

I’m curious under what authority the city council of Philly can intervene in a loan contract…but no matter. I now have new material to bust my buddy’s chops who is from Philly, other than the Eagles never winning a superbowl.

[sd-maybe]

I’m curious under what authority the city council of Philly can intervene in a loan contract…but no matter. I now have new material to bust my buddy’s chops who is from Philly, other than the Eagles never winning a superbowl.

[sd-maybe]

I’m curious under what authority the city council of Philly can intervene in a loan contract…but no matter. I now have new material to bust my buddy’s chops who is from Philly, other than the Eagles never winning a superbowl.

[sd-maybe]

I’m curious under what authority the city council of Philly can intervene in a loan contract…but no matter. I now have new material to bust my buddy’s chops who is from Philly, other than the Eagles never winning a superbowl.

[sd-maybe]

I’m curious under what authority the city council of Philly can intervene in a loan contract…but no matter. I now have new material to bust my buddy’s chops who is from Philly, other than the Eagles never winning a superbowl.

[Arraya]

Why are people so hell bent on keeping FBs paying on overpriced houses. Let them go rent and save money.

[Sandi Egan]

I think this is a political move.

Clinton called for a foreclosure moratorium many times. Ahead of PA primaries (where she leads and has a lot of supporters among Philly elected officials), it might be nice to show everybody how her policies could help people save their homes.

For better or worse, it will illustrate the sheer stupidity of the idea.

[PadreBrian]

If that’s the case Obama/McCain can use the fallout to show what clinton’s words will do.

[PadreBrian]

If that’s the case Obama/McCain can use the fallout to show what clinton’s words will do.

[PadreBrian]

If that’s the case Obama/McCain can use the fallout to show what clinton’s words will do.

[PadreBrian]

If that’s the case Obama/McCain can use the fallout to show what clinton’s words will do.

[PadreBrian]

If that’s the case Obama/McCain can use the fallout to show what clinton’s words will do.

[Sandi Egan]

I think this is a political move.

Clinton called for a foreclosure moratorium many times. Ahead of PA primaries (where she leads and has a lot of supporters among Philly elected officials), it might be nice to show everybody how her policies could help people save their homes.

For better or worse, it will illustrate the sheer stupidity of the idea.

[Sandi Egan]

I think this is a political move.

Clinton called for a foreclosure moratorium many times. Ahead of PA primaries (where she leads and has a lot of supporters among Philly elected officials), it might be nice to show everybody how her policies could help people save their homes.

For better or worse, it will illustrate the sheer stupidity of the idea.

[Sandi Egan]

I think this is a political move.

Clinton called for a foreclosure moratorium many times. Ahead of PA primaries (where she leads and has a lot of supporters among Philly elected officials), it might be nice to show everybody how her policies could help people save their homes.

For better or worse, it will illustrate the sheer stupidity of the idea.

[Sandi Egan]

I think this is a political move.

Clinton called for a foreclosure moratorium many times. Ahead of PA primaries (where she leads and has a lot of supporters among Philly elected officials), it might be nice to show everybody how her policies could help people save their homes.

For better or worse, it will illustrate the sheer stupidity of the idea.

[Arraya]

Why are people so hell bent on keeping FBs paying on overpriced houses. Let them go rent and save money.

[Arraya]

Why are people so hell bent on keeping FBs paying on overpriced houses. Let them go rent and save money.

[Arraya]

Why are people so hell bent on keeping FBs paying on overpriced houses. Let them go rent and save money.

[Arraya]

Why are people so hell bent on keeping FBs paying on overpriced houses. Let them go rent and save money.

[Author]

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