is the new Smart Move to BUY a home for strategic default?

[briansd1]

[quote=CA renter]
That’s why this is so frustrating for those of us who’ve tried to do the right thing. All the fraudsters are being richly rewarded with free rent, 2% interest rates, and principal reductions…while those of us who’ve saved and waited are being rewarded with 0% interest rates and a bubble market that just won’t die. Nice… :([/quote]

I sympathize with your frustration.

But isn’t righteous satisfaction enough? If not, you can always join everyone else in sin.

I was talking to my cousin about this. She’s the most righteous person there is and she didn’t even know that banks were loaning money to anyone who could fog a mirror and funding all the fraud. She could not even imagine that people would want to borrow money that they could never pay back. She and her husband live in their own little world in the Hudson River Valley upstate from NYC.

[stockstradr]

I have had this actual conversation with multiple friends and relatives. This is America’s story. This is unsustainable.

Me: “Hi, just calling to say hi and ask how’s it going?”

Friend: “Oh, great, I’m out shopping right now?”

Me: “Shopping? I thought you lost your job?”

Friend: “Well, we have some extra money”

Me: “Extra money? Where’s your money tree?”

Friend: “Well, you know I stopped paying our mortgage two years ago. Those darn banks deserve nothing after they manipulated us to sign their liar loans. So we’re living rent-free.”

Friend: “Plus we stopped paying our credit card bills. We had racked up about $50K, but those darn banks deserve nothing ’cause they charge too high interest rates”

Friend: “Oh, yeah, plus we got an extension on my unemployment”

Me: “OK, I see. You’ve got extra money to spend. Great.”

Friend: “It seems so!”

Me: “I guess that’s why the economy shows signs of recovering?”

Friend: “I don’t worry ’bout all that economy stuff; I just know we got some extra money to spend now. Gotta go, arriving at Macy’s now…”

[stockstradr]

I have had this actual conversation with multiple friends and relatives. This is America’s story. This is unsustainable.

Me: “Hi, just calling to say hi and ask how’s it going?”

Friend: “Oh, great, I’m out shopping right now?”

Me: “Shopping? I thought you lost your job?”

Friend: “Well, we have some extra money”

Me: “Extra money? Where’s your money tree?”

Friend: “Well, you know I stopped paying our mortgage two years ago. Those darn banks deserve nothing after they manipulated us to sign their liar loans. So we’re living rent-free.”

Friend: “Plus we stopped paying our credit card bills. We had racked up about $50K, but those darn banks deserve nothing ’cause they charge too high interest rates”

Friend: “Oh, yeah, plus we got an extension on my unemployment”

Me: “OK, I see. You’ve got extra money to spend. Great.”

Friend: “It seems so!”

Me: “I guess that’s why the economy shows signs of recovering?”

Friend: “I don’t worry ’bout all that economy stuff; I just know we got some extra money to spend now. Gotta go, arriving at Macy’s now…”

[stockstradr]

I have had this actual conversation with multiple friends and relatives. This is America’s story. This is unsustainable.

Me: “Hi, just calling to say hi and ask how’s it going?”

Friend: “Oh, great, I’m out shopping right now?”

Me: “Shopping? I thought you lost your job?”

Friend: “Well, we have some extra money”

Me: “Extra money? Where’s your money tree?”

Friend: “Well, you know I stopped paying our mortgage two years ago. Those darn banks deserve nothing after they manipulated us to sign their liar loans. So we’re living rent-free.”

Friend: “Plus we stopped paying our credit card bills. We had racked up about $50K, but those darn banks deserve nothing ’cause they charge too high interest rates”

Friend: “Oh, yeah, plus we got an extension on my unemployment”

Me: “OK, I see. You’ve got extra money to spend. Great.”

Friend: “It seems so!”

Me: “I guess that’s why the economy shows signs of recovering?”

Friend: “I don’t worry ’bout all that economy stuff; I just know we got some extra money to spend now. Gotta go, arriving at Macy’s now…”

[stockstradr]

I have had this actual conversation with multiple friends and relatives. This is America’s story. This is unsustainable.

Me: “Hi, just calling to say hi and ask how’s it going?”

Friend: “Oh, great, I’m out shopping right now?”

Me: “Shopping? I thought you lost your job?”

Friend: “Well, we have some extra money”

Me: “Extra money? Where’s your money tree?”

Friend: “Well, you know I stopped paying our mortgage two years ago. Those darn banks deserve nothing after they manipulated us to sign their liar loans. So we’re living rent-free.”

Friend: “Plus we stopped paying our credit card bills. We had racked up about $50K, but those darn banks deserve nothing ’cause they charge too high interest rates”

Friend: “Oh, yeah, plus we got an extension on my unemployment”

Me: “OK, I see. You’ve got extra money to spend. Great.”

Friend: “It seems so!”

Me: “I guess that’s why the economy shows signs of recovering?”

Friend: “I don’t worry ’bout all that economy stuff; I just know we got some extra money to spend now. Gotta go, arriving at Macy’s now…”

[stockstradr]

I have had this actual conversation with multiple friends and relatives. This is America’s story. This is unsustainable.

Me: “Hi, just calling to say hi and ask how’s it going?”

Friend: “Oh, great, I’m out shopping right now?”

Me: “Shopping? I thought you lost your job?”

Friend: “Well, we have some extra money”

Me: “Extra money? Where’s your money tree?”

Friend: “Well, you know I stopped paying our mortgage two years ago. Those darn banks deserve nothing after they manipulated us to sign their liar loans. So we’re living rent-free.”

Friend: “Plus we stopped paying our credit card bills. We had racked up about $50K, but those darn banks deserve nothing ’cause they charge too high interest rates”

Friend: “Oh, yeah, plus we got an extension on my unemployment”

Me: “OK, I see. You’ve got extra money to spend. Great.”

Friend: “It seems so!”

Me: “I guess that’s why the economy shows signs of recovering?”

Friend: “I don’t worry ’bout all that economy stuff; I just know we got some extra money to spend now. Gotta go, arriving at Macy’s now…”

[Arraya]

Suspension of disbelief

[Arraya]

Suspension of disbelief

[Arraya]

Suspension of disbelief

[Arraya]

Suspension of disbelief

[Arraya]

Suspension of disbelief

[CA renter]

[quote=stockstradr]I have had this actual conversation with multiple friends and relatives. This is America’s story. This is unsustainable.

Me: “Hi, just calling to say hi and ask how’s it going?”

Friend: “Oh, great, I’m out shopping right now?”

Me: “Shopping? I thought you lost your job?”

Friend: “Well, we have some extra money”

Me: “Extra money? Where’s your money tree?”

Friend: “Well, you know I stopped paying our mortgage two years ago. Those darn banks deserve nothing after they manipulated us to sign their liar loans. So we’re living rent-free.”

Friend: “Plus we stopped paying our credit card bills. We had racked up about $50K, but those darn banks deserve nothing ’cause they charge too high interest rates”

Friend: “Oh, yeah, plus we got an extension on my unemployment”

Me: “OK, I see. You’ve got extra money to spend. Great.”

Friend: “It seems so!”

Me: “I guess that’s why the economy shows signs of recovering?”

Friend: “I don’t worry ’bout all that economy stuff; I just know we got some extra money to spend now. Gotta go, arriving at Macy’s now…”[/quote]

For those who think stockstrader is making this up, I’ve had these very same conversations with friends, acquaintances, and strangers (yep, people will admit that to total strangers — and they’re PROUD of it!). Not kidding. 🙁

[CA renter]

[quote=stockstradr]I have had this actual conversation with multiple friends and relatives. This is America’s story. This is unsustainable.

Me: “Hi, just calling to say hi and ask how’s it going?”

Friend: “Oh, great, I’m out shopping right now?”

Me: “Shopping? I thought you lost your job?”

Friend: “Well, we have some extra money”

Me: “Extra money? Where’s your money tree?”

Friend: “Well, you know I stopped paying our mortgage two years ago. Those darn banks deserve nothing after they manipulated us to sign their liar loans. So we’re living rent-free.”

Friend: “Plus we stopped paying our credit card bills. We had racked up about $50K, but those darn banks deserve nothing ’cause they charge too high interest rates”

Friend: “Oh, yeah, plus we got an extension on my unemployment”

Me: “OK, I see. You’ve got extra money to spend. Great.”

Friend: “It seems so!”

Me: “I guess that’s why the economy shows signs of recovering?”

Friend: “I don’t worry ’bout all that economy stuff; I just know we got some extra money to spend now. Gotta go, arriving at Macy’s now…”[/quote]

For those who think stockstrader is making this up, I’ve had these very same conversations with friends, acquaintances, and strangers (yep, people will admit that to total strangers — and they’re PROUD of it!). Not kidding. 🙁

[CA renter]

[quote=stockstradr]I have had this actual conversation with multiple friends and relatives. This is America’s story. This is unsustainable.

Me: “Hi, just calling to say hi and ask how’s it going?”

Friend: “Oh, great, I’m out shopping right now?”

Me: “Shopping? I thought you lost your job?”

Friend: “Well, we have some extra money”

Me: “Extra money? Where’s your money tree?”

Friend: “Well, you know I stopped paying our mortgage two years ago. Those darn banks deserve nothing after they manipulated us to sign their liar loans. So we’re living rent-free.”

Friend: “Plus we stopped paying our credit card bills. We had racked up about $50K, but those darn banks deserve nothing ’cause they charge too high interest rates”

Friend: “Oh, yeah, plus we got an extension on my unemployment”

Me: “OK, I see. You’ve got extra money to spend. Great.”

Friend: “It seems so!”

Me: “I guess that’s why the economy shows signs of recovering?”

Friend: “I don’t worry ’bout all that economy stuff; I just know we got some extra money to spend now. Gotta go, arriving at Macy’s now…”[/quote]

For those who think stockstrader is making this up, I’ve had these very same conversations with friends, acquaintances, and strangers (yep, people will admit that to total strangers — and they’re PROUD of it!). Not kidding. 🙁

[CA renter]

[quote=stockstradr]I have had this actual conversation with multiple friends and relatives. This is America’s story. This is unsustainable.

Me: “Hi, just calling to say hi and ask how’s it going?”

Friend: “Oh, great, I’m out shopping right now?”

Me: “Shopping? I thought you lost your job?”

Friend: “Well, we have some extra money”

Me: “Extra money? Where’s your money tree?”

Friend: “Well, you know I stopped paying our mortgage two years ago. Those darn banks deserve nothing after they manipulated us to sign their liar loans. So we’re living rent-free.”

Friend: “Plus we stopped paying our credit card bills. We had racked up about $50K, but those darn banks deserve nothing ’cause they charge too high interest rates”

Friend: “Oh, yeah, plus we got an extension on my unemployment”

Me: “OK, I see. You’ve got extra money to spend. Great.”

Friend: “It seems so!”

Me: “I guess that’s why the economy shows signs of recovering?”

Friend: “I don’t worry ’bout all that economy stuff; I just know we got some extra money to spend now. Gotta go, arriving at Macy’s now…”[/quote]

For those who think stockstrader is making this up, I’ve had these very same conversations with friends, acquaintances, and strangers (yep, people will admit that to total strangers — and they’re PROUD of it!). Not kidding. 🙁

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