Report shows strategic defaults increasing

[briansd1]

[quote=jpinpb]
And I am of the belief that banks are in business to make money and were there no bailout, they would be eager to foreclose and sell the house to get somone in there who would pay. Rather than that happening, bailouts to banks and homeowners and even more people joining the others in not paying. Moral hazard out the window.[/quote]

You are looking at the old banking model which no longer exists.

Banks have not held mortgages for the last two decades.

Loan servicers are no more eager to foreclose than a property manager is save you maintenance on your property. The name of game is the fees that they can charge for the servicing (and during the boom, the commission they could generate for the origination of the loans).

[Arraya]

[quote=jpinpb]Arraya – please consider that anyone who bought a home during the bubble, for whatever reason, fear of being priced out, pressures, greed, stupidity, whatever, contributed to the bubble. Cogs in the wheel. Some people abused it and bought multiple houses.

This is NOT a question of FBs having to be punished. It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. Now I did not go around telling people not to buy. People can and will do what they want. And they did. Buying and spending like no tomorrow. Taking trips. Buying toys. Bragging and showing off. All great.

But now the piper’s coming home. Rather than owning their mistakes, they are getting rewarded. See the problem here? No. Because maybe you are in Bill’s boat. If people want to make bad decisions (buying a house during a bubble) then that’s their perogative. But do not come back later and expect to get help, too.

I resent having to help people/companies that made bad decisions. The only punishment going on is to ME. I am being punished for making right decisions. And to add insult to injury, I am having to pay companies and homeowners for their bad decisions.

Give it a rest, Bill and Arraya. You are working the system, but you do not get to complain about it while benefitting from it.[/quote]

how is Bill not responsible for his decisions? What should he be held responsible for.

And for the record. I am not working any system. I am a single, childless renter that makes a decent salary, so I subsidize every body.

[Arraya]

[quote=jpinpb]Arraya – please consider that anyone who bought a home during the bubble, for whatever reason, fear of being priced out, pressures, greed, stupidity, whatever, contributed to the bubble. Cogs in the wheel. Some people abused it and bought multiple houses.

This is NOT a question of FBs having to be punished. It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. Now I did not go around telling people not to buy. People can and will do what they want. And they did. Buying and spending like no tomorrow. Taking trips. Buying toys. Bragging and showing off. All great.

But now the piper’s coming home. Rather than owning their mistakes, they are getting rewarded. See the problem here? No. Because maybe you are in Bill’s boat. If people want to make bad decisions (buying a house during a bubble) then that’s their perogative. But do not come back later and expect to get help, too.

I resent having to help people/companies that made bad decisions. The only punishment going on is to ME. I am being punished for making right decisions. And to add insult to injury, I am having to pay companies and homeowners for their bad decisions.

Give it a rest, Bill and Arraya. You are working the system, but you do not get to complain about it while benefitting from it.[/quote]

how is Bill not responsible for his decisions? What should he be held responsible for.

And for the record. I am not working any system. I am a single, childless renter that makes a decent salary, so I subsidize every body.

[Arraya]

[quote=jpinpb]Arraya – please consider that anyone who bought a home during the bubble, for whatever reason, fear of being priced out, pressures, greed, stupidity, whatever, contributed to the bubble. Cogs in the wheel. Some people abused it and bought multiple houses.

This is NOT a question of FBs having to be punished. It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. Now I did not go around telling people not to buy. People can and will do what they want. And they did. Buying and spending like no tomorrow. Taking trips. Buying toys. Bragging and showing off. All great.

But now the piper’s coming home. Rather than owning their mistakes, they are getting rewarded. See the problem here? No. Because maybe you are in Bill’s boat. If people want to make bad decisions (buying a house during a bubble) then that’s their perogative. But do not come back later and expect to get help, too.

I resent having to help people/companies that made bad decisions. The only punishment going on is to ME. I am being punished for making right decisions. And to add insult to injury, I am having to pay companies and homeowners for their bad decisions.

Give it a rest, Bill and Arraya. You are working the system, but you do not get to complain about it while benefitting from it.[/quote]

how is Bill not responsible for his decisions? What should he be held responsible for.

And for the record. I am not working any system. I am a single, childless renter that makes a decent salary, so I subsidize every body.

[Arraya]

[quote=jpinpb]Arraya – please consider that anyone who bought a home during the bubble, for whatever reason, fear of being priced out, pressures, greed, stupidity, whatever, contributed to the bubble. Cogs in the wheel. Some people abused it and bought multiple houses.

This is NOT a question of FBs having to be punished. It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. Now I did not go around telling people not to buy. People can and will do what they want. And they did. Buying and spending like no tomorrow. Taking trips. Buying toys. Bragging and showing off. All great.

But now the piper’s coming home. Rather than owning their mistakes, they are getting rewarded. See the problem here? No. Because maybe you are in Bill’s boat. If people want to make bad decisions (buying a house during a bubble) then that’s their perogative. But do not come back later and expect to get help, too.

I resent having to help people/companies that made bad decisions. The only punishment going on is to ME. I am being punished for making right decisions. And to add insult to injury, I am having to pay companies and homeowners for their bad decisions.

Give it a rest, Bill and Arraya. You are working the system, but you do not get to complain about it while benefitting from it.[/quote]

how is Bill not responsible for his decisions? What should he be held responsible for.

And for the record. I am not working any system. I am a single, childless renter that makes a decent salary, so I subsidize every body.

[Arraya]

[quote=jpinpb]Arraya – please consider that anyone who bought a home during the bubble, for whatever reason, fear of being priced out, pressures, greed, stupidity, whatever, contributed to the bubble. Cogs in the wheel. Some people abused it and bought multiple houses.

This is NOT a question of FBs having to be punished. It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. Now I did not go around telling people not to buy. People can and will do what they want. And they did. Buying and spending like no tomorrow. Taking trips. Buying toys. Bragging and showing off. All great.

But now the piper’s coming home. Rather than owning their mistakes, they are getting rewarded. See the problem here? No. Because maybe you are in Bill’s boat. If people want to make bad decisions (buying a house during a bubble) then that’s their perogative. But do not come back later and expect to get help, too.

I resent having to help people/companies that made bad decisions. The only punishment going on is to ME. I am being punished for making right decisions. And to add insult to injury, I am having to pay companies and homeowners for their bad decisions.

Give it a rest, Bill and Arraya. You are working the system, but you do not get to complain about it while benefitting from it.[/quote]

how is Bill not responsible for his decisions? What should he be held responsible for.

And for the record. I am not working any system. I am a single, childless renter that makes a decent salary, so I subsidize every body.

[jpinpb]

[quote=briansd1]
Banks have not held mortgages for the last two decades.
[/quote]

Then tell me again why we’ve had to bail them out.

[jpinpb]

[quote=briansd1]
Banks have not held mortgages for the last two decades.
[/quote]

Then tell me again why we’ve had to bail them out.

[jpinpb]

[quote=briansd1]
Banks have not held mortgages for the last two decades.
[/quote]

Then tell me again why we’ve had to bail them out.

[jpinpb]

[quote=briansd1]
Banks have not held mortgages for the last two decades.
[/quote]

Then tell me again why we’ve had to bail them out.

[jpinpb]

[quote=briansd1]
Banks have not held mortgages for the last two decades.
[/quote]

Then tell me again why we’ve had to bail them out.

[jpinpb]

If someone (individual or company) is responsible for their decisions and it turns out to be a bad decision, then that person should not benefit from the bad decision at the expense of others who did not make the bad decision.

It is, in effect, rewarding someone making the bad decision and punishing someone who didn’t make the bad decision.

It is so backwards, I can’t even begin to explain it to you if you don’t see how clearly obviously wrong that is.

[jpinpb]

If someone (individual or company) is responsible for their decisions and it turns out to be a bad decision, then that person should not benefit from the bad decision at the expense of others who did not make the bad decision.

It is, in effect, rewarding someone making the bad decision and punishing someone who didn’t make the bad decision.

It is so backwards, I can’t even begin to explain it to you if you don’t see how clearly obviously wrong that is.

[jpinpb]

If someone (individual or company) is responsible for their decisions and it turns out to be a bad decision, then that person should not benefit from the bad decision at the expense of others who did not make the bad decision.

It is, in effect, rewarding someone making the bad decision and punishing someone who didn’t make the bad decision.

It is so backwards, I can’t even begin to explain it to you if you don’t see how clearly obviously wrong that is.

[jpinpb]

If someone (individual or company) is responsible for their decisions and it turns out to be a bad decision, then that person should not benefit from the bad decision at the expense of others who did not make the bad decision.

It is, in effect, rewarding someone making the bad decision and punishing someone who didn’t make the bad decision.

It is so backwards, I can’t even begin to explain it to you if you don’t see how clearly obviously wrong that is.

[Author]

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