Report shows strategic defaults increasing

[Anonymous]

[quote=UCGal]After a week long vacation I came back to this monster long thread.

A couple of thoughts.
* I agree with everything CAR said. The bailouts actually hurt us, longterm. We’d have been better off without them.

* I’m troubled that someone who has no financial hardship thinks it’s morally ok to just stop paying. I, personally, couldn’t do it. I’m sure I’ll be called a ball-less bitch for admitting that I like to honor my word and contractual obligations.

* I keep thinking of the contractor I’m in litigation with. He received his NOD on his house in Oct. His NOT in Dec. He’s had 2 extensions on his trustee sale. He doesn’t qualify for HAMP because his loan’s too high. Yet he’s living rent free. I actually have a slight bit more sympathy for him since he’s faced financial hardship (contracting sucks these days)… But I still feel strongly that he shouldn’t get free rent. It bothers the crap out of me that my tax dollars are helping subsidize people who have the capacity to meet their contractual obligations but selfishly choose not to.

Bill – what you’re doing is legal. In my book, it’s not moral.[/quote]I don’t have a problem with your opinion, morality is subjective. I think anyone who willingly joins the military to go fight in Iraq or Afghanistan are murderers and Bush is a war criminal. We can disagree. The problem I have is with people like SDR who are dishonest hypocrites. He has to lie to sell his position. That’s just sad.

You are very misguided when you complain about your tax dollars subsidizing people like me. Your tax dollars are subsidizing banks. I could have mailed in my keys over a year ago and the bank would probably still be sitting on the property.

I’m doing my neighborhood and lender a favor by keeping my house looking great.

[Arraya]

Accountants say rising numbers of California taxpayers who did short sales or received loan modifications in 2009 now fear they will be walloped anew by a cash-starved state government intent on taxing their forgiven debt.

Read more: http://www.fresnobee.com/2010/03/06/1849459/california-tax-law-unsettled-on.html#ixzz0ltuH2tJv

[Arraya]

Accountants say rising numbers of California taxpayers who did short sales or received loan modifications in 2009 now fear they will be walloped anew by a cash-starved state government intent on taxing their forgiven debt.

Read more: http://www.fresnobee.com/2010/03/06/1849459/california-tax-law-unsettled-on.html#ixzz0ltuH2tJv

[Arraya]

Accountants say rising numbers of California taxpayers who did short sales or received loan modifications in 2009 now fear they will be walloped anew by a cash-starved state government intent on taxing their forgiven debt.

Read more: http://www.fresnobee.com/2010/03/06/1849459/california-tax-law-unsettled-on.html#ixzz0ltuH2tJv

[Arraya]

Accountants say rising numbers of California taxpayers who did short sales or received loan modifications in 2009 now fear they will be walloped anew by a cash-starved state government intent on taxing their forgiven debt.

Read more: http://www.fresnobee.com/2010/03/06/1849459/california-tax-law-unsettled-on.html#ixzz0ltuH2tJv

[Arraya]

Accountants say rising numbers of California taxpayers who did short sales or received loan modifications in 2009 now fear they will be walloped anew by a cash-starved state government intent on taxing their forgiven debt.

Read more: http://www.fresnobee.com/2010/03/06/1849459/california-tax-law-unsettled-on.html#ixzz0ltuH2tJv

[SD Realtor]

Bill there is nothing that I have lied about. Nor has there been anything that I am hypocritical about. Yes the majority of the bailout money is going to the banks and Wall St. I know that, I have posted about it all the time. It is pathetic and is yet another display about how Wall St is in the hip pocket of the govt. Yet there are people who have been bailed out and had loan modifications. Those modifications in most cases will only further bury those people in debt. They are idiots for taking the mods. The only one making money off of them is the lender.

Yes you could have mailed in your keys and perhaps the property would sit empty. However you would be living in an apartment paying rent and obviously that is an inconvenience for you. Yes you are taking advantage of your situation. Every day people pick and choose on what loans they will repay and what loans they will not. It doesn’t matter if it is a credit card, a car payment, or a home. Some people have true hardship and cannot pay, and some don’t. I think people who walk on loans for pure business decisions do so for good reasons. Those who walk away from the asset or short sell or give it back, I get that and applaud them for showing some integrity in the wake of a purchase they should not have made. You chose to pay most bills and walked on your home and brag about what a great rockstar life you lead while you still live there. There is no shame in your tone, nor remorse or regret, just proud banter about the life you lead. Oh and anger and vitriol for being called a deadbeat. Fantastic and good for you, like I said… Tell your kids and family and friends about it. I am sure you are the envy of them all. They all probably say wow I wish I could be like Bill. Yet you are still a deadbeat in my eyes. Kind like my 5 year old… he takes advantage of situations until he is taken care of by his parents. You will take advantage until the bank kicks you out. You could short sell, you could mail in the keys, you could go rent but you don’t because it is advantageous for you. Wow you are keeping the neighborhood up by watering the lawn. Kudos, in your eyes your a saint. In mine you are a deadbeat, but a deadbeat with a nice lawn.

[SD Realtor]

Bill there is nothing that I have lied about. Nor has there been anything that I am hypocritical about. Yes the majority of the bailout money is going to the banks and Wall St. I know that, I have posted about it all the time. It is pathetic and is yet another display about how Wall St is in the hip pocket of the govt. Yet there are people who have been bailed out and had loan modifications. Those modifications in most cases will only further bury those people in debt. They are idiots for taking the mods. The only one making money off of them is the lender.

Yes you could have mailed in your keys and perhaps the property would sit empty. However you would be living in an apartment paying rent and obviously that is an inconvenience for you. Yes you are taking advantage of your situation. Every day people pick and choose on what loans they will repay and what loans they will not. It doesn’t matter if it is a credit card, a car payment, or a home. Some people have true hardship and cannot pay, and some don’t. I think people who walk on loans for pure business decisions do so for good reasons. Those who walk away from the asset or short sell or give it back, I get that and applaud them for showing some integrity in the wake of a purchase they should not have made. You chose to pay most bills and walked on your home and brag about what a great rockstar life you lead while you still live there. There is no shame in your tone, nor remorse or regret, just proud banter about the life you lead. Oh and anger and vitriol for being called a deadbeat. Fantastic and good for you, like I said… Tell your kids and family and friends about it. I am sure you are the envy of them all. They all probably say wow I wish I could be like Bill. Yet you are still a deadbeat in my eyes. Kind like my 5 year old… he takes advantage of situations until he is taken care of by his parents. You will take advantage until the bank kicks you out. You could short sell, you could mail in the keys, you could go rent but you don’t because it is advantageous for you. Wow you are keeping the neighborhood up by watering the lawn. Kudos, in your eyes your a saint. In mine you are a deadbeat, but a deadbeat with a nice lawn.

[SD Realtor]

Bill there is nothing that I have lied about. Nor has there been anything that I am hypocritical about. Yes the majority of the bailout money is going to the banks and Wall St. I know that, I have posted about it all the time. It is pathetic and is yet another display about how Wall St is in the hip pocket of the govt. Yet there are people who have been bailed out and had loan modifications. Those modifications in most cases will only further bury those people in debt. They are idiots for taking the mods. The only one making money off of them is the lender.

Yes you could have mailed in your keys and perhaps the property would sit empty. However you would be living in an apartment paying rent and obviously that is an inconvenience for you. Yes you are taking advantage of your situation. Every day people pick and choose on what loans they will repay and what loans they will not. It doesn’t matter if it is a credit card, a car payment, or a home. Some people have true hardship and cannot pay, and some don’t. I think people who walk on loans for pure business decisions do so for good reasons. Those who walk away from the asset or short sell or give it back, I get that and applaud them for showing some integrity in the wake of a purchase they should not have made. You chose to pay most bills and walked on your home and brag about what a great rockstar life you lead while you still live there. There is no shame in your tone, nor remorse or regret, just proud banter about the life you lead. Oh and anger and vitriol for being called a deadbeat. Fantastic and good for you, like I said… Tell your kids and family and friends about it. I am sure you are the envy of them all. They all probably say wow I wish I could be like Bill. Yet you are still a deadbeat in my eyes. Kind like my 5 year old… he takes advantage of situations until he is taken care of by his parents. You will take advantage until the bank kicks you out. You could short sell, you could mail in the keys, you could go rent but you don’t because it is advantageous for you. Wow you are keeping the neighborhood up by watering the lawn. Kudos, in your eyes your a saint. In mine you are a deadbeat, but a deadbeat with a nice lawn.

[SD Realtor]

Bill there is nothing that I have lied about. Nor has there been anything that I am hypocritical about. Yes the majority of the bailout money is going to the banks and Wall St. I know that, I have posted about it all the time. It is pathetic and is yet another display about how Wall St is in the hip pocket of the govt. Yet there are people who have been bailed out and had loan modifications. Those modifications in most cases will only further bury those people in debt. They are idiots for taking the mods. The only one making money off of them is the lender.

Yes you could have mailed in your keys and perhaps the property would sit empty. However you would be living in an apartment paying rent and obviously that is an inconvenience for you. Yes you are taking advantage of your situation. Every day people pick and choose on what loans they will repay and what loans they will not. It doesn’t matter if it is a credit card, a car payment, or a home. Some people have true hardship and cannot pay, and some don’t. I think people who walk on loans for pure business decisions do so for good reasons. Those who walk away from the asset or short sell or give it back, I get that and applaud them for showing some integrity in the wake of a purchase they should not have made. You chose to pay most bills and walked on your home and brag about what a great rockstar life you lead while you still live there. There is no shame in your tone, nor remorse or regret, just proud banter about the life you lead. Oh and anger and vitriol for being called a deadbeat. Fantastic and good for you, like I said… Tell your kids and family and friends about it. I am sure you are the envy of them all. They all probably say wow I wish I could be like Bill. Yet you are still a deadbeat in my eyes. Kind like my 5 year old… he takes advantage of situations until he is taken care of by his parents. You will take advantage until the bank kicks you out. You could short sell, you could mail in the keys, you could go rent but you don’t because it is advantageous for you. Wow you are keeping the neighborhood up by watering the lawn. Kudos, in your eyes your a saint. In mine you are a deadbeat, but a deadbeat with a nice lawn.

[SD Realtor]

Bill there is nothing that I have lied about. Nor has there been anything that I am hypocritical about. Yes the majority of the bailout money is going to the banks and Wall St. I know that, I have posted about it all the time. It is pathetic and is yet another display about how Wall St is in the hip pocket of the govt. Yet there are people who have been bailed out and had loan modifications. Those modifications in most cases will only further bury those people in debt. They are idiots for taking the mods. The only one making money off of them is the lender.

Yes you could have mailed in your keys and perhaps the property would sit empty. However you would be living in an apartment paying rent and obviously that is an inconvenience for you. Yes you are taking advantage of your situation. Every day people pick and choose on what loans they will repay and what loans they will not. It doesn’t matter if it is a credit card, a car payment, or a home. Some people have true hardship and cannot pay, and some don’t. I think people who walk on loans for pure business decisions do so for good reasons. Those who walk away from the asset or short sell or give it back, I get that and applaud them for showing some integrity in the wake of a purchase they should not have made. You chose to pay most bills and walked on your home and brag about what a great rockstar life you lead while you still live there. There is no shame in your tone, nor remorse or regret, just proud banter about the life you lead. Oh and anger and vitriol for being called a deadbeat. Fantastic and good for you, like I said… Tell your kids and family and friends about it. I am sure you are the envy of them all. They all probably say wow I wish I could be like Bill. Yet you are still a deadbeat in my eyes. Kind like my 5 year old… he takes advantage of situations until he is taken care of by his parents. You will take advantage until the bank kicks you out. You could short sell, you could mail in the keys, you could go rent but you don’t because it is advantageous for you. Wow you are keeping the neighborhood up by watering the lawn. Kudos, in your eyes your a saint. In mine you are a deadbeat, but a deadbeat with a nice lawn.

[Aecetia]

SDR,

You are way too polite.

[Aecetia]

SDR,

You are way too polite.

[Aecetia]

SDR,

You are way too polite.

[Aecetia]

SDR,

You are way too polite.

[Author]

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