Report shows strategic defaults increasing

[jpinpb]

Jealous? No. Resentful that my tax dollars go towards supporting the greed and stupidity of others, bankers or whoever contributed to this mess, yes.

I think if the banks were not being subsidized, they would want to act quickly to remove any non performing loans and start to generate income. I think in a free market, most businesses would want to act immediately to get revenues. I know that in today’s times that just sounds like crazy talk.

Clearly from all the multiple offers I keep hearing about, there are people wanting to buy these homes from the banks. If we are hearing about it, I’m sure the banks are also. They know there are people out there ready and waiting to buy their nonperforming asset. Why are they not selling? Well, why should they? They are being compensated to do nothing. The joke’s on us.

[briansd1]

[quote=Arraya] Put another way, Bills living in the home for free is not driving bailouts. So why should anybody care if he does it, unless you are jealous.[/quote]

Interesting take on this, Arraya, I agree there that is no telling how fast foreclosures would have occurred had the financial system collapsed and chaos ensued.

The FDIC and government would have paid back the insured depositors, but beyond that? Who knows? It might have been a free-for-all and Bill might have gotten his house free, in adverse possession, after years had passed.

I personally don’t mind that some real people are benefiting from living for free. Collateral damage or benefit, however you want to look at it.

*

jpinpb, had the financial system not been bailed out it, i believe that it would have collapsed. Banks and employees would not have been around to foreclose quickly.

Now, after the bailout, the government encouraging the banks to be lenient is another thing.

[briansd1]

[quote=Arraya] Put another way, Bills living in the home for free is not driving bailouts. So why should anybody care if he does it, unless you are jealous.[/quote]

Interesting take on this, Arraya, I agree there that is no telling how fast foreclosures would have occurred had the financial system collapsed and chaos ensued.

The FDIC and government would have paid back the insured depositors, but beyond that? Who knows? It might have been a free-for-all and Bill might have gotten his house free, in adverse possession, after years had passed.

I personally don’t mind that some real people are benefiting from living for free. Collateral damage or benefit, however you want to look at it.

*

jpinpb, had the financial system not been bailed out it, i believe that it would have collapsed. Banks and employees would not have been around to foreclose quickly.

Now, after the bailout, the government encouraging the banks to be lenient is another thing.

[briansd1]

[quote=Arraya] Put another way, Bills living in the home for free is not driving bailouts. So why should anybody care if he does it, unless you are jealous.[/quote]

Interesting take on this, Arraya, I agree there that is no telling how fast foreclosures would have occurred had the financial system collapsed and chaos ensued.

The FDIC and government would have paid back the insured depositors, but beyond that? Who knows? It might have been a free-for-all and Bill might have gotten his house free, in adverse possession, after years had passed.

I personally don’t mind that some real people are benefiting from living for free. Collateral damage or benefit, however you want to look at it.

*

jpinpb, had the financial system not been bailed out it, i believe that it would have collapsed. Banks and employees would not have been around to foreclose quickly.

Now, after the bailout, the government encouraging the banks to be lenient is another thing.

[briansd1]

[quote=Arraya] Put another way, Bills living in the home for free is not driving bailouts. So why should anybody care if he does it, unless you are jealous.[/quote]

Interesting take on this, Arraya, I agree there that is no telling how fast foreclosures would have occurred had the financial system collapsed and chaos ensued.

The FDIC and government would have paid back the insured depositors, but beyond that? Who knows? It might have been a free-for-all and Bill might have gotten his house free, in adverse possession, after years had passed.

I personally don’t mind that some real people are benefiting from living for free. Collateral damage or benefit, however you want to look at it.

*

jpinpb, had the financial system not been bailed out it, i believe that it would have collapsed. Banks and employees would not have been around to foreclose quickly.

Now, after the bailout, the government encouraging the banks to be lenient is another thing.

[briansd1]

[quote=Arraya] Put another way, Bills living in the home for free is not driving bailouts. So why should anybody care if he does it, unless you are jealous.[/quote]

Interesting take on this, Arraya, I agree there that is no telling how fast foreclosures would have occurred had the financial system collapsed and chaos ensued.

The FDIC and government would have paid back the insured depositors, but beyond that? Who knows? It might have been a free-for-all and Bill might have gotten his house free, in adverse possession, after years had passed.

I personally don’t mind that some real people are benefiting from living for free. Collateral damage or benefit, however you want to look at it.

*

jpinpb, had the financial system not been bailed out it, i believe that it would have collapsed. Banks and employees would not have been around to foreclose quickly.

Now, after the bailout, the government encouraging the banks to be lenient is another thing.

[SD Realtor]

Arraya there is no difference between someone who knowingly gets a loan to buy a home and then never makes a single payment and squats for as long as they want until they are evicted, and people like Bill, and also people who behave in the manner you are proposing.

It is one thing to come on hard times and default. It is another thing to take advantage of the system that is corrupt, broken, and subsidized by taxpayers. Your posts have NOT ONE SINGLE DROP of personal responsibility from the buyer but are filled with blame for the banks, blame for govt, blame for everything. Yes WE ALL sit here and agree that it is everyone elses fault for not foreclosing quickly. We all know that. Yet not everyone here shares your “we should all not pay our mortgages and live for free cuz the system is all f’d up”. Try to come with a new take, we all know the system is f’d up, we all know there is greed and corruption everywhere yet it appears to me that most of the homeowners on the post here choose to make payments.

Like I said, if I were in the unfortunate position to be a deadbeat, I would show remorse, humility, and shame. I would not display bravado, nor would I blame the banks, the govt, the mortgage industry, the real estate industry and everyone else. I would blame myself for being a stump and buying into the hype. I would not brag about how much money I make on the stock market, or travelling around the world, or how much money I am saving by living for free.

[SD Realtor]

Arraya there is no difference between someone who knowingly gets a loan to buy a home and then never makes a single payment and squats for as long as they want until they are evicted, and people like Bill, and also people who behave in the manner you are proposing.

It is one thing to come on hard times and default. It is another thing to take advantage of the system that is corrupt, broken, and subsidized by taxpayers. Your posts have NOT ONE SINGLE DROP of personal responsibility from the buyer but are filled with blame for the banks, blame for govt, blame for everything. Yes WE ALL sit here and agree that it is everyone elses fault for not foreclosing quickly. We all know that. Yet not everyone here shares your “we should all not pay our mortgages and live for free cuz the system is all f’d up”. Try to come with a new take, we all know the system is f’d up, we all know there is greed and corruption everywhere yet it appears to me that most of the homeowners on the post here choose to make payments.

Like I said, if I were in the unfortunate position to be a deadbeat, I would show remorse, humility, and shame. I would not display bravado, nor would I blame the banks, the govt, the mortgage industry, the real estate industry and everyone else. I would blame myself for being a stump and buying into the hype. I would not brag about how much money I make on the stock market, or travelling around the world, or how much money I am saving by living for free.

[SD Realtor]

Arraya there is no difference between someone who knowingly gets a loan to buy a home and then never makes a single payment and squats for as long as they want until they are evicted, and people like Bill, and also people who behave in the manner you are proposing.

It is one thing to come on hard times and default. It is another thing to take advantage of the system that is corrupt, broken, and subsidized by taxpayers. Your posts have NOT ONE SINGLE DROP of personal responsibility from the buyer but are filled with blame for the banks, blame for govt, blame for everything. Yes WE ALL sit here and agree that it is everyone elses fault for not foreclosing quickly. We all know that. Yet not everyone here shares your “we should all not pay our mortgages and live for free cuz the system is all f’d up”. Try to come with a new take, we all know the system is f’d up, we all know there is greed and corruption everywhere yet it appears to me that most of the homeowners on the post here choose to make payments.

Like I said, if I were in the unfortunate position to be a deadbeat, I would show remorse, humility, and shame. I would not display bravado, nor would I blame the banks, the govt, the mortgage industry, the real estate industry and everyone else. I would blame myself for being a stump and buying into the hype. I would not brag about how much money I make on the stock market, or travelling around the world, or how much money I am saving by living for free.

[SD Realtor]

Arraya there is no difference between someone who knowingly gets a loan to buy a home and then never makes a single payment and squats for as long as they want until they are evicted, and people like Bill, and also people who behave in the manner you are proposing.

It is one thing to come on hard times and default. It is another thing to take advantage of the system that is corrupt, broken, and subsidized by taxpayers. Your posts have NOT ONE SINGLE DROP of personal responsibility from the buyer but are filled with blame for the banks, blame for govt, blame for everything. Yes WE ALL sit here and agree that it is everyone elses fault for not foreclosing quickly. We all know that. Yet not everyone here shares your “we should all not pay our mortgages and live for free cuz the system is all f’d up”. Try to come with a new take, we all know the system is f’d up, we all know there is greed and corruption everywhere yet it appears to me that most of the homeowners on the post here choose to make payments.

Like I said, if I were in the unfortunate position to be a deadbeat, I would show remorse, humility, and shame. I would not display bravado, nor would I blame the banks, the govt, the mortgage industry, the real estate industry and everyone else. I would blame myself for being a stump and buying into the hype. I would not brag about how much money I make on the stock market, or travelling around the world, or how much money I am saving by living for free.

[SD Realtor]

Arraya there is no difference between someone who knowingly gets a loan to buy a home and then never makes a single payment and squats for as long as they want until they are evicted, and people like Bill, and also people who behave in the manner you are proposing.

It is one thing to come on hard times and default. It is another thing to take advantage of the system that is corrupt, broken, and subsidized by taxpayers. Your posts have NOT ONE SINGLE DROP of personal responsibility from the buyer but are filled with blame for the banks, blame for govt, blame for everything. Yes WE ALL sit here and agree that it is everyone elses fault for not foreclosing quickly. We all know that. Yet not everyone here shares your “we should all not pay our mortgages and live for free cuz the system is all f’d up”. Try to come with a new take, we all know the system is f’d up, we all know there is greed and corruption everywhere yet it appears to me that most of the homeowners on the post here choose to make payments.

Like I said, if I were in the unfortunate position to be a deadbeat, I would show remorse, humility, and shame. I would not display bravado, nor would I blame the banks, the govt, the mortgage industry, the real estate industry and everyone else. I would blame myself for being a stump and buying into the hype. I would not brag about how much money I make on the stock market, or travelling around the world, or how much money I am saving by living for free.

[Arraya]

[quote=jpinpb]Jealous? No. Resentful that my tax dollars go towards supporting the greed and stupidity of others, bankers or whoever contributed to this mess, yes.

I think if the banks were not being subsidized, they would want to act quickly to remove any non performing loans and start to generate income. I think in a free market, most businesses would want to act immediately to get revenues. I know that in today’s times that just sounds like crazy talk.

Clearly from all the multiple offers I keep hearing about, there are people wanting to buy these homes from the banks. If we are hearing about it, I’m sure the banks are also. They know there are people out there ready and waiting to buy their nonperforming asset. Why are they not selling? Well, why should they? They are being compensated to do nothing. The joke’s on us.[/quote]

Ok, so why should you be resentful at Bill’s action of living for free if it is not driving bailouts. I suppose you could be resentful that he decided not to pay his mortgage because in a tiny way it drove bailouts but also within the guidelines of our laws. But not his living for free.

The bailouts were because of a huge systemic structural failure. Not really because of individual homeowners actions. It’s like being resentful of the bolts in a bridge that collapsed, were some of the bolts were tin instead of steel. When a few the structural engineers designed the QA for the bolts. Once the weak bolts go it adds stress to the stronger bolts and they break as well and the whole bridge collapses. From what we know Bill was a strong bolt that decided to bolt, when he saw the bridge going down.

Still, we have the same engineers doing the re-design on the bridge and we are continuing to look at all the bolts that are popping out.

[Arraya]

[quote=jpinpb]Jealous? No. Resentful that my tax dollars go towards supporting the greed and stupidity of others, bankers or whoever contributed to this mess, yes.

I think if the banks were not being subsidized, they would want to act quickly to remove any non performing loans and start to generate income. I think in a free market, most businesses would want to act immediately to get revenues. I know that in today’s times that just sounds like crazy talk.

Clearly from all the multiple offers I keep hearing about, there are people wanting to buy these homes from the banks. If we are hearing about it, I’m sure the banks are also. They know there are people out there ready and waiting to buy their nonperforming asset. Why are they not selling? Well, why should they? They are being compensated to do nothing. The joke’s on us.[/quote]

Ok, so why should you be resentful at Bill’s action of living for free if it is not driving bailouts. I suppose you could be resentful that he decided not to pay his mortgage because in a tiny way it drove bailouts but also within the guidelines of our laws. But not his living for free.

The bailouts were because of a huge systemic structural failure. Not really because of individual homeowners actions. It’s like being resentful of the bolts in a bridge that collapsed, were some of the bolts were tin instead of steel. When a few the structural engineers designed the QA for the bolts. Once the weak bolts go it adds stress to the stronger bolts and they break as well and the whole bridge collapses. From what we know Bill was a strong bolt that decided to bolt, when he saw the bridge going down.

Still, we have the same engineers doing the re-design on the bridge and we are continuing to look at all the bolts that are popping out.

[Arraya]

[quote=jpinpb]Jealous? No. Resentful that my tax dollars go towards supporting the greed and stupidity of others, bankers or whoever contributed to this mess, yes.

I think if the banks were not being subsidized, they would want to act quickly to remove any non performing loans and start to generate income. I think in a free market, most businesses would want to act immediately to get revenues. I know that in today’s times that just sounds like crazy talk.

Clearly from all the multiple offers I keep hearing about, there are people wanting to buy these homes from the banks. If we are hearing about it, I’m sure the banks are also. They know there are people out there ready and waiting to buy their nonperforming asset. Why are they not selling? Well, why should they? They are being compensated to do nothing. The joke’s on us.[/quote]

Ok, so why should you be resentful at Bill’s action of living for free if it is not driving bailouts. I suppose you could be resentful that he decided not to pay his mortgage because in a tiny way it drove bailouts but also within the guidelines of our laws. But not his living for free.

The bailouts were because of a huge systemic structural failure. Not really because of individual homeowners actions. It’s like being resentful of the bolts in a bridge that collapsed, were some of the bolts were tin instead of steel. When a few the structural engineers designed the QA for the bolts. Once the weak bolts go it adds stress to the stronger bolts and they break as well and the whole bridge collapses. From what we know Bill was a strong bolt that decided to bolt, when he saw the bridge going down.

Still, we have the same engineers doing the re-design on the bridge and we are continuing to look at all the bolts that are popping out.

[Arraya]

[quote=jpinpb]Jealous? No. Resentful that my tax dollars go towards supporting the greed and stupidity of others, bankers or whoever contributed to this mess, yes.

I think if the banks were not being subsidized, they would want to act quickly to remove any non performing loans and start to generate income. I think in a free market, most businesses would want to act immediately to get revenues. I know that in today’s times that just sounds like crazy talk.

Clearly from all the multiple offers I keep hearing about, there are people wanting to buy these homes from the banks. If we are hearing about it, I’m sure the banks are also. They know there are people out there ready and waiting to buy their nonperforming asset. Why are they not selling? Well, why should they? They are being compensated to do nothing. The joke’s on us.[/quote]

Ok, so why should you be resentful at Bill’s action of living for free if it is not driving bailouts. I suppose you could be resentful that he decided not to pay his mortgage because in a tiny way it drove bailouts but also within the guidelines of our laws. But not his living for free.

The bailouts were because of a huge systemic structural failure. Not really because of individual homeowners actions. It’s like being resentful of the bolts in a bridge that collapsed, were some of the bolts were tin instead of steel. When a few the structural engineers designed the QA for the bolts. Once the weak bolts go it adds stress to the stronger bolts and they break as well and the whole bridge collapses. From what we know Bill was a strong bolt that decided to bolt, when he saw the bridge going down.

Still, we have the same engineers doing the re-design on the bridge and we are continuing to look at all the bolts that are popping out.

[Author]

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