Daily Show – Mortgage Bankers Association strategically defaults

[bubba99]

Perfect. And they say bankers get a bad rap.

[joec]

[quote=jpinpb]joe – if people want to default and walk, fine But as a renting taxpayer who did not buy a house that I could not afford during the bubble, I do not feel it is my burden to save banks or people losing their homes. They can go back to renting. They will not be homeless. This is the issue I have. I also do not think they are entitled to live for free for months/years.[/quote]

jpinpb – You’re putting words in my post if that’s what you read from my message above. No where did I state I support bailing out banks (which I hate) or giving people free rent or houses or even helping they save their house with our tax dollars (which I’m a payer of too).

If folks want to strategically default, so be it…they move out and rent, move in with family. That’s that. No need to say, “oh, you’re an evil person, etc etc etc…”

[joec]

[quote=jpinpb]joe – if people want to default and walk, fine But as a renting taxpayer who did not buy a house that I could not afford during the bubble, I do not feel it is my burden to save banks or people losing their homes. They can go back to renting. They will not be homeless. This is the issue I have. I also do not think they are entitled to live for free for months/years.[/quote]

jpinpb – You’re putting words in my post if that’s what you read from my message above. No where did I state I support bailing out banks (which I hate) or giving people free rent or houses or even helping they save their house with our tax dollars (which I’m a payer of too).

If folks want to strategically default, so be it…they move out and rent, move in with family. That’s that. No need to say, “oh, you’re an evil person, etc etc etc…”

[joec]

[quote=jpinpb]joe – if people want to default and walk, fine But as a renting taxpayer who did not buy a house that I could not afford during the bubble, I do not feel it is my burden to save banks or people losing their homes. They can go back to renting. They will not be homeless. This is the issue I have. I also do not think they are entitled to live for free for months/years.[/quote]

jpinpb – You’re putting words in my post if that’s what you read from my message above. No where did I state I support bailing out banks (which I hate) or giving people free rent or houses or even helping they save their house with our tax dollars (which I’m a payer of too).

If folks want to strategically default, so be it…they move out and rent, move in with family. That’s that. No need to say, “oh, you’re an evil person, etc etc etc…”

[joec]

[quote=jpinpb]joe – if people want to default and walk, fine But as a renting taxpayer who did not buy a house that I could not afford during the bubble, I do not feel it is my burden to save banks or people losing their homes. They can go back to renting. They will not be homeless. This is the issue I have. I also do not think they are entitled to live for free for months/years.[/quote]

jpinpb – You’re putting words in my post if that’s what you read from my message above. No where did I state I support bailing out banks (which I hate) or giving people free rent or houses or even helping they save their house with our tax dollars (which I’m a payer of too).

If folks want to strategically default, so be it…they move out and rent, move in with family. That’s that. No need to say, “oh, you’re an evil person, etc etc etc…”

[joec]

[quote=jpinpb]joe – if people want to default and walk, fine But as a renting taxpayer who did not buy a house that I could not afford during the bubble, I do not feel it is my burden to save banks or people losing their homes. They can go back to renting. They will not be homeless. This is the issue I have. I also do not think they are entitled to live for free for months/years.[/quote]

jpinpb – You’re putting words in my post if that’s what you read from my message above. No where did I state I support bailing out banks (which I hate) or giving people free rent or houses or even helping they save their house with our tax dollars (which I’m a payer of too).

If folks want to strategically default, so be it…they move out and rent, move in with family. That’s that. No need to say, “oh, you’re an evil person, etc etc etc…”

[jpinpb]

[quote=joec]jpinpb – You’re putting words in my post if that’s what you read from my message above. No where did I state I support bailing out banks (which I hate) or giving people free rent or houses or even helping they save their house with our tax dollars (which I’m a payer of too).

If folks want to strategically default, so be it…they move out and rent, move in with family. That’s that. No need to say, “oh, you’re an evil person, etc etc etc…”[/quote]

I did not say evil to default. Contract says you must pay, if not, return the house. The problem is that it’s abused and people have been living for free for 2+ years. It becomes all our problem as taxpayers b/c we have to bail out banks, etc. All b/c banks were lending to people they shouldn’t have and people bought houses they couldn’t afford and the domino effect from there.

I understand if situations arise and you can’t afford the house. I understand if the value decreases so much that it doesn’t make financial sense to stay and pay. Bad financial decisions. Mail back the keys. But people have taken it way too far and are living for free for years. I guess one can argue that it helps the economy b/c they have extra money to spend shopping. But I still say the living for free part is working the system.

It’s all one big mess and it’s frustrating.

[jpinpb]

[quote=joec]jpinpb – You’re putting words in my post if that’s what you read from my message above. No where did I state I support bailing out banks (which I hate) or giving people free rent or houses or even helping they save their house with our tax dollars (which I’m a payer of too).

If folks want to strategically default, so be it…they move out and rent, move in with family. That’s that. No need to say, “oh, you’re an evil person, etc etc etc…”[/quote]

I did not say evil to default. Contract says you must pay, if not, return the house. The problem is that it’s abused and people have been living for free for 2+ years. It becomes all our problem as taxpayers b/c we have to bail out banks, etc. All b/c banks were lending to people they shouldn’t have and people bought houses they couldn’t afford and the domino effect from there.

I understand if situations arise and you can’t afford the house. I understand if the value decreases so much that it doesn’t make financial sense to stay and pay. Bad financial decisions. Mail back the keys. But people have taken it way too far and are living for free for years. I guess one can argue that it helps the economy b/c they have extra money to spend shopping. But I still say the living for free part is working the system.

It’s all one big mess and it’s frustrating.

[jpinpb]

[quote=joec]jpinpb – You’re putting words in my post if that’s what you read from my message above. No where did I state I support bailing out banks (which I hate) or giving people free rent or houses or even helping they save their house with our tax dollars (which I’m a payer of too).

If folks want to strategically default, so be it…they move out and rent, move in with family. That’s that. No need to say, “oh, you’re an evil person, etc etc etc…”[/quote]

I did not say evil to default. Contract says you must pay, if not, return the house. The problem is that it’s abused and people have been living for free for 2+ years. It becomes all our problem as taxpayers b/c we have to bail out banks, etc. All b/c banks were lending to people they shouldn’t have and people bought houses they couldn’t afford and the domino effect from there.

I understand if situations arise and you can’t afford the house. I understand if the value decreases so much that it doesn’t make financial sense to stay and pay. Bad financial decisions. Mail back the keys. But people have taken it way too far and are living for free for years. I guess one can argue that it helps the economy b/c they have extra money to spend shopping. But I still say the living for free part is working the system.

It’s all one big mess and it’s frustrating.

[jpinpb]

[quote=joec]jpinpb – You’re putting words in my post if that’s what you read from my message above. No where did I state I support bailing out banks (which I hate) or giving people free rent or houses or even helping they save their house with our tax dollars (which I’m a payer of too).

If folks want to strategically default, so be it…they move out and rent, move in with family. That’s that. No need to say, “oh, you’re an evil person, etc etc etc…”[/quote]

I did not say evil to default. Contract says you must pay, if not, return the house. The problem is that it’s abused and people have been living for free for 2+ years. It becomes all our problem as taxpayers b/c we have to bail out banks, etc. All b/c banks were lending to people they shouldn’t have and people bought houses they couldn’t afford and the domino effect from there.

I understand if situations arise and you can’t afford the house. I understand if the value decreases so much that it doesn’t make financial sense to stay and pay. Bad financial decisions. Mail back the keys. But people have taken it way too far and are living for free for years. I guess one can argue that it helps the economy b/c they have extra money to spend shopping. But I still say the living for free part is working the system.

It’s all one big mess and it’s frustrating.

[jpinpb]

[quote=joec]jpinpb – You’re putting words in my post if that’s what you read from my message above. No where did I state I support bailing out banks (which I hate) or giving people free rent or houses or even helping they save their house with our tax dollars (which I’m a payer of too).

If folks want to strategically default, so be it…they move out and rent, move in with family. That’s that. No need to say, “oh, you’re an evil person, etc etc etc…”[/quote]

I did not say evil to default. Contract says you must pay, if not, return the house. The problem is that it’s abused and people have been living for free for 2+ years. It becomes all our problem as taxpayers b/c we have to bail out banks, etc. All b/c banks were lending to people they shouldn’t have and people bought houses they couldn’t afford and the domino effect from there.

I understand if situations arise and you can’t afford the house. I understand if the value decreases so much that it doesn’t make financial sense to stay and pay. Bad financial decisions. Mail back the keys. But people have taken it way too far and are living for free for years. I guess one can argue that it helps the economy b/c they have extra money to spend shopping. But I still say the living for free part is working the system.

It’s all one big mess and it’s frustrating.

[equalizer]

WSJ did report on this back in Feb, but story never made the big time. Time to follow Canadian model and force banks to hold their loans.

“Mortgage Bankers Association Sells Headquarters at Big Loss.”

http://online.wsj.com/article/SB10001424052748704829704575049111428912890.html#articleTabs%3Darticle

[equalizer]

WSJ did report on this back in Feb, but story never made the big time. Time to follow Canadian model and force banks to hold their loans.

“Mortgage Bankers Association Sells Headquarters at Big Loss.”

http://online.wsj.com/article/SB10001424052748704829704575049111428912890.html#articleTabs%3Darticle

[equalizer]

WSJ did report on this back in Feb, but story never made the big time. Time to follow Canadian model and force banks to hold their loans.

“Mortgage Bankers Association Sells Headquarters at Big Loss.”

http://online.wsj.com/article/SB10001424052748704829704575049111428912890.html#articleTabs%3Darticle

[equalizer]

WSJ did report on this back in Feb, but story never made the big time. Time to follow Canadian model and force banks to hold their loans.

“Mortgage Bankers Association Sells Headquarters at Big Loss.”

http://online.wsj.com/article/SB10001424052748704829704575049111428912890.html#articleTabs%3Darticle

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