Report shows strategic defaults increasing

[equalizer]

[quote=Russell]Dear Mr. Obama,

In 2006 I put a bunch of my own money down on a house and mortgaged a small fraction.It really is nothing at all to pay it even in this recession, I mean since we turned off the electricity and live on rice and beans. Things have been tight at times but we were proud of the blood sweat and tears we put into making a “home” we could afford. Someone I know got a 100% loan from Countrywide and a way better house. In the interim he has spent money like a fiend. He also has several other properties he is losing which fueled some of the spending with MEW.They are all maxed out! They have a lot of stuff and have had insane trips to almost any place you can think of. They got a built in pool last year. We had one of those blow up things.

Now these people are in deep trouble. They might lose their house, I mean houses.Please save them from this crisis!I think they hid a bunch of money and quit paying their mortgage.They need that money! I think it would be cool if you give them a lot of principal reduction to help them deal with the consequences of their American dreaming…After all, what better use of the nations capacity for charity could there be? Oh, and I think in the process you should make all rich people richer.Make sure they don’t lose any of that money they lent to over-spenders. That all would be a shame, since our economy depends on these kinds of things happening. Think of all the reasonable spenders,renters and owners alike… and the homeless schizophrenics living in American parks who would be screwed if you didn’t save the rich! Thanks for taking good care of us.

Best wishes to Michelle, who looks great in Narcisco and yourself, for all the hope you bring.[/quote]

Dear Russell

On behalf of the President, I would thank you for your diligent sacrifice and team spirit. We need more people like you who understand that in this time of deep economic distress, that we as country need to stick together to fight dark forces that are holding USA back from laudable goal of everyone achieving (and now retaining) the elusive American dream (or dreams as rightly point out). In 2010, America too shall overcame with brave forward thinkers such as yourself who understand the need for small sacrifice for the common good.

Your progressive views are in stark contrast to misguided folks such as Equalizer and his Long-Island Iced-Tea Party brethren. They would seek to vilify the unfortunate souls who bought a few Jovani Couture dresses (and the requisite platinum bling)and now are having mortgage problems and the dedicated Wall Street bankers that have to get new safety deposit boxes every week to store their weekly bonuses. We need to move on from this short-sighted blame game and march our country toward prosperity once again.
Here’s Angelo Mozilo with his Karaoke:
“We’ll be back in the High Life again. All those foreclosed doors will open and let us back in…”

Sincerely,
Rahm Emanuel,
White House Chief of Staff

PS
I thought I would pass along a money saving tip.
Uncle Ben (from his GD research) has told me that rice is just fattening and has low nutritional value. So your family could cut out the rice and save a few bucks and fit into couture (rental)outfits that would look great on a White House visit.

[aldante]

[quote=Russell]Dear Mr. Obama,

In 2006 I put a bunch of my own money down on a house and mortgaged a small fraction.It really is nothing at all to pay it even in this recession, I mean since we turned off the electricity and live on rice and beans. Things have been tight at times but we were proud of the blood sweat and tears we put into making a “home” we could afford. Someone I know got a 100% loan from Countrywide and a way better house. In the interim he has spent money like a fiend. He also has several other properties he is losing which fueled some of the spending with MEW.They are all maxed out! They have a lot of stuff and have had insane trips to almost any place you can think of. They got a built in pool last year. We had one of those blow up things.

Now these people are in deep trouble. They might lose their house, I mean houses.Please save them from this crisis!I think they hid a bunch of money and quit paying their mortgage.They need that money! I think it would be cool if you give them a lot of principal reduction to help them deal with the consequences of their American dreaming…After all, what better use of the nations capacity for charity could there be? Oh, and I think in the process you should make all rich people richer.Make sure they don’t lose any of that money they lent to over-spenders. That all would be a shame, since our economy depends on these kinds of things happening. Think of all the reasonable spenders,renters and owners alike… and the homeless schizophrenics living in American parks who would be screwed if you didn’t save the rich! Thanks for taking good care of us.

Best wishes to Michelle, who looks great in Narcisco and yourself, for all the hope you bring.[/quote]

Russell,

Fantastic……I love it.

[aldante]

[quote=Russell]Dear Mr. Obama,

In 2006 I put a bunch of my own money down on a house and mortgaged a small fraction.It really is nothing at all to pay it even in this recession, I mean since we turned off the electricity and live on rice and beans. Things have been tight at times but we were proud of the blood sweat and tears we put into making a “home” we could afford. Someone I know got a 100% loan from Countrywide and a way better house. In the interim he has spent money like a fiend. He also has several other properties he is losing which fueled some of the spending with MEW.They are all maxed out! They have a lot of stuff and have had insane trips to almost any place you can think of. They got a built in pool last year. We had one of those blow up things.

Now these people are in deep trouble. They might lose their house, I mean houses.Please save them from this crisis!I think they hid a bunch of money and quit paying their mortgage.They need that money! I think it would be cool if you give them a lot of principal reduction to help them deal with the consequences of their American dreaming…After all, what better use of the nations capacity for charity could there be? Oh, and I think in the process you should make all rich people richer.Make sure they don’t lose any of that money they lent to over-spenders. That all would be a shame, since our economy depends on these kinds of things happening. Think of all the reasonable spenders,renters and owners alike… and the homeless schizophrenics living in American parks who would be screwed if you didn’t save the rich! Thanks for taking good care of us.

Best wishes to Michelle, who looks great in Narcisco and yourself, for all the hope you bring.[/quote]

Russell,

Fantastic……I love it.

[aldante]

[quote=Russell]Dear Mr. Obama,

In 2006 I put a bunch of my own money down on a house and mortgaged a small fraction.It really is nothing at all to pay it even in this recession, I mean since we turned off the electricity and live on rice and beans. Things have been tight at times but we were proud of the blood sweat and tears we put into making a “home” we could afford. Someone I know got a 100% loan from Countrywide and a way better house. In the interim he has spent money like a fiend. He also has several other properties he is losing which fueled some of the spending with MEW.They are all maxed out! They have a lot of stuff and have had insane trips to almost any place you can think of. They got a built in pool last year. We had one of those blow up things.

Now these people are in deep trouble. They might lose their house, I mean houses.Please save them from this crisis!I think they hid a bunch of money and quit paying their mortgage.They need that money! I think it would be cool if you give them a lot of principal reduction to help them deal with the consequences of their American dreaming…After all, what better use of the nations capacity for charity could there be? Oh, and I think in the process you should make all rich people richer.Make sure they don’t lose any of that money they lent to over-spenders. That all would be a shame, since our economy depends on these kinds of things happening. Think of all the reasonable spenders,renters and owners alike… and the homeless schizophrenics living in American parks who would be screwed if you didn’t save the rich! Thanks for taking good care of us.

Best wishes to Michelle, who looks great in Narcisco and yourself, for all the hope you bring.[/quote]

Russell,

Fantastic……I love it.

[aldante]

[quote=Russell]Dear Mr. Obama,

In 2006 I put a bunch of my own money down on a house and mortgaged a small fraction.It really is nothing at all to pay it even in this recession, I mean since we turned off the electricity and live on rice and beans. Things have been tight at times but we were proud of the blood sweat and tears we put into making a “home” we could afford. Someone I know got a 100% loan from Countrywide and a way better house. In the interim he has spent money like a fiend. He also has several other properties he is losing which fueled some of the spending with MEW.They are all maxed out! They have a lot of stuff and have had insane trips to almost any place you can think of. They got a built in pool last year. We had one of those blow up things.

Now these people are in deep trouble. They might lose their house, I mean houses.Please save them from this crisis!I think they hid a bunch of money and quit paying their mortgage.They need that money! I think it would be cool if you give them a lot of principal reduction to help them deal with the consequences of their American dreaming…After all, what better use of the nations capacity for charity could there be? Oh, and I think in the process you should make all rich people richer.Make sure they don’t lose any of that money they lent to over-spenders. That all would be a shame, since our economy depends on these kinds of things happening. Think of all the reasonable spenders,renters and owners alike… and the homeless schizophrenics living in American parks who would be screwed if you didn’t save the rich! Thanks for taking good care of us.

Best wishes to Michelle, who looks great in Narcisco and yourself, for all the hope you bring.[/quote]

Russell,

Fantastic……I love it.

[aldante]

[quote=Russell]Dear Mr. Obama,

In 2006 I put a bunch of my own money down on a house and mortgaged a small fraction.It really is nothing at all to pay it even in this recession, I mean since we turned off the electricity and live on rice and beans. Things have been tight at times but we were proud of the blood sweat and tears we put into making a “home” we could afford. Someone I know got a 100% loan from Countrywide and a way better house. In the interim he has spent money like a fiend. He also has several other properties he is losing which fueled some of the spending with MEW.They are all maxed out! They have a lot of stuff and have had insane trips to almost any place you can think of. They got a built in pool last year. We had one of those blow up things.

Now these people are in deep trouble. They might lose their house, I mean houses.Please save them from this crisis!I think they hid a bunch of money and quit paying their mortgage.They need that money! I think it would be cool if you give them a lot of principal reduction to help them deal with the consequences of their American dreaming…After all, what better use of the nations capacity for charity could there be? Oh, and I think in the process you should make all rich people richer.Make sure they don’t lose any of that money they lent to over-spenders. That all would be a shame, since our economy depends on these kinds of things happening. Think of all the reasonable spenders,renters and owners alike… and the homeless schizophrenics living in American parks who would be screwed if you didn’t save the rich! Thanks for taking good care of us.

Best wishes to Michelle, who looks great in Narcisco and yourself, for all the hope you bring.[/quote]

Russell,

Fantastic……I love it.

[bearishgurl]

Amen, Russell and Equalizer!

One of my neighbors has purchased seven cars and an RV and boat in the last few years. All but the boat is parked in the street because they only have a one-car garage, which is – you guessed it – full. They inherited their property free and clear under Prop. 13 ($350 yr. taxes) and then – – you got it – mortgaged it to the hilt after taking out 2 seconds, one HELOC and 7 “cash-out” refi’s. Now they’re pushing retirement age saddled with yet another new “cash-out” 30-year mortgage that just closed. They’ve paid more in closing costs than I took out on my first trust deed! Guess I’m the stupid one still driving a 16 year-old vehicle . . . Hail to CONSUMERISM!!!!

I’m sure I’ll be around to see the day their bank rolls in a 34-foot dumpster – LOL! They’re on “disability.”

[bearishgurl]

Amen, Russell and Equalizer!

One of my neighbors has purchased seven cars and an RV and boat in the last few years. All but the boat is parked in the street because they only have a one-car garage, which is – you guessed it – full. They inherited their property free and clear under Prop. 13 ($350 yr. taxes) and then – – you got it – mortgaged it to the hilt after taking out 2 seconds, one HELOC and 7 “cash-out” refi’s. Now they’re pushing retirement age saddled with yet another new “cash-out” 30-year mortgage that just closed. They’ve paid more in closing costs than I took out on my first trust deed! Guess I’m the stupid one still driving a 16 year-old vehicle . . . Hail to CONSUMERISM!!!!

I’m sure I’ll be around to see the day their bank rolls in a 34-foot dumpster – LOL! They’re on “disability.”

[bearishgurl]

Amen, Russell and Equalizer!

One of my neighbors has purchased seven cars and an RV and boat in the last few years. All but the boat is parked in the street because they only have a one-car garage, which is – you guessed it – full. They inherited their property free and clear under Prop. 13 ($350 yr. taxes) and then – – you got it – mortgaged it to the hilt after taking out 2 seconds, one HELOC and 7 “cash-out” refi’s. Now they’re pushing retirement age saddled with yet another new “cash-out” 30-year mortgage that just closed. They’ve paid more in closing costs than I took out on my first trust deed! Guess I’m the stupid one still driving a 16 year-old vehicle . . . Hail to CONSUMERISM!!!!

I’m sure I’ll be around to see the day their bank rolls in a 34-foot dumpster – LOL! They’re on “disability.”

[bearishgurl]

Amen, Russell and Equalizer!

One of my neighbors has purchased seven cars and an RV and boat in the last few years. All but the boat is parked in the street because they only have a one-car garage, which is – you guessed it – full. They inherited their property free and clear under Prop. 13 ($350 yr. taxes) and then – – you got it – mortgaged it to the hilt after taking out 2 seconds, one HELOC and 7 “cash-out” refi’s. Now they’re pushing retirement age saddled with yet another new “cash-out” 30-year mortgage that just closed. They’ve paid more in closing costs than I took out on my first trust deed! Guess I’m the stupid one still driving a 16 year-old vehicle . . . Hail to CONSUMERISM!!!!

I’m sure I’ll be around to see the day their bank rolls in a 34-foot dumpster – LOL! They’re on “disability.”

[bearishgurl]

Amen, Russell and Equalizer!

One of my neighbors has purchased seven cars and an RV and boat in the last few years. All but the boat is parked in the street because they only have a one-car garage, which is – you guessed it – full. They inherited their property free and clear under Prop. 13 ($350 yr. taxes) and then – – you got it – mortgaged it to the hilt after taking out 2 seconds, one HELOC and 7 “cash-out” refi’s. Now they’re pushing retirement age saddled with yet another new “cash-out” 30-year mortgage that just closed. They’ve paid more in closing costs than I took out on my first trust deed! Guess I’m the stupid one still driving a 16 year-old vehicle . . . Hail to CONSUMERISM!!!!

I’m sure I’ll be around to see the day their bank rolls in a 34-foot dumpster – LOL! They’re on “disability.”

[paramount]

If strategic defaults are rising, I see this as a positive trend.

All of us FB’s are finally getting smart!

[paramount]

If strategic defaults are rising, I see this as a positive trend.

All of us FB’s are finally getting smart!

[paramount]

If strategic defaults are rising, I see this as a positive trend.

All of us FB’s are finally getting smart!

[paramount]

If strategic defaults are rising, I see this as a positive trend.

All of us FB’s are finally getting smart!

[Author]

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