Rewarding Bad Behavior and Stupidity = Bailout

[ucodegen]

@DaCounselor

And what is better for me, I ask? Is is better to have my neighbor and his family stay in the home pursuant to a mod, or would I rather he go into foreclosure with the house ultimately sitting empty and waiting to become an REO fire sale comp-killer. Again, not really a close call as to which is better for me.

You are assuming that the re-assessment on the neighbor’s house does not affect the comps.. but it will indirectly set the ‘new price’. The new price will be based on affordable income whether people are kept in their house and we create a moral hazard by doing so or allow the market to adjust and have people who really can afford the house. Do you want someone who can barely afford the house kept in the house, but because they can barely afford it, let the house get run down? Or do you want to go through the foreclosure and have the price drop a bit.. but the people coming in can really afford and maintain the property?

To the question previously.. in order
A, B, C .. but C only if I really have to. If I have to repossess the car, it will probably not look anything like what I sold it as. The springs will probably be cut to lower it, suspension arms bent because the car rides just off the jounce stops, bottom scraped up because of suspension bottoming out, interior cut up to get the crazy boom boxes/speaker assemblies put in, engine trashed because they didn’t bother to make sure oil and coolant levels maintained… etc. There may also be several dents if it didn’t get wrecked.

[an]

cooperthedog, it’s not just the poor people that want to buy the house they couldn’t afford. It goes all the way up to the middle to upper middle class too. The banks are now blaming the government/regulators for letting them do what they did. So I guess no one want to take the blame. Just because someone offer you something, doesn’t mean you have to take it. The crack dealers offering you crack for a price and you want crack, then is it the dealer’s fault for you wanting crack or is it your fault for wanting crack? How about obese people blaming McDonald for them being fat? Is it McDonald’s fault for offering the food they want, or is it their lack of judgment and wanting food that’s not good for them? Life lesson is very expensive. If you’re smart, you’ll look around and try to learn from other people mistakes. If you don’t, you have to pay for that lesson yourself. If you don’t learn it the first time, life will keep on charging you the subsequent lessons until you learn it. You and you alone can keep yourself out of harms way and not have to pay for life’s lessons.

[an]

cooperthedog, it’s not just the poor people that want to buy the house they couldn’t afford. It goes all the way up to the middle to upper middle class too. The banks are now blaming the government/regulators for letting them do what they did. So I guess no one want to take the blame. Just because someone offer you something, doesn’t mean you have to take it. The crack dealers offering you crack for a price and you want crack, then is it the dealer’s fault for you wanting crack or is it your fault for wanting crack? How about obese people blaming McDonald for them being fat? Is it McDonald’s fault for offering the food they want, or is it their lack of judgment and wanting food that’s not good for them? Life lesson is very expensive. If you’re smart, you’ll look around and try to learn from other people mistakes. If you don’t, you have to pay for that lesson yourself. If you don’t learn it the first time, life will keep on charging you the subsequent lessons until you learn it. You and you alone can keep yourself out of harms way and not have to pay for life’s lessons.

[an]

cooperthedog, it’s not just the poor people that want to buy the house they couldn’t afford. It goes all the way up to the middle to upper middle class too. The banks are now blaming the government/regulators for letting them do what they did. So I guess no one want to take the blame. Just because someone offer you something, doesn’t mean you have to take it. The crack dealers offering you crack for a price and you want crack, then is it the dealer’s fault for you wanting crack or is it your fault for wanting crack? How about obese people blaming McDonald for them being fat? Is it McDonald’s fault for offering the food they want, or is it their lack of judgment and wanting food that’s not good for them? Life lesson is very expensive. If you’re smart, you’ll look around and try to learn from other people mistakes. If you don’t, you have to pay for that lesson yourself. If you don’t learn it the first time, life will keep on charging you the subsequent lessons until you learn it. You and you alone can keep yourself out of harms way and not have to pay for life’s lessons.

[an]

cooperthedog, it’s not just the poor people that want to buy the house they couldn’t afford. It goes all the way up to the middle to upper middle class too. The banks are now blaming the government/regulators for letting them do what they did. So I guess no one want to take the blame. Just because someone offer you something, doesn’t mean you have to take it. The crack dealers offering you crack for a price and you want crack, then is it the dealer’s fault for you wanting crack or is it your fault for wanting crack? How about obese people blaming McDonald for them being fat? Is it McDonald’s fault for offering the food they want, or is it their lack of judgment and wanting food that’s not good for them? Life lesson is very expensive. If you’re smart, you’ll look around and try to learn from other people mistakes. If you don’t, you have to pay for that lesson yourself. If you don’t learn it the first time, life will keep on charging you the subsequent lessons until you learn it. You and you alone can keep yourself out of harms way and not have to pay for life’s lessons.

[an]

cooperthedog, it’s not just the poor people that want to buy the house they couldn’t afford. It goes all the way up to the middle to upper middle class too. The banks are now blaming the government/regulators for letting them do what they did. So I guess no one want to take the blame. Just because someone offer you something, doesn’t mean you have to take it. The crack dealers offering you crack for a price and you want crack, then is it the dealer’s fault for you wanting crack or is it your fault for wanting crack? How about obese people blaming McDonald for them being fat? Is it McDonald’s fault for offering the food they want, or is it their lack of judgment and wanting food that’s not good for them? Life lesson is very expensive. If you’re smart, you’ll look around and try to learn from other people mistakes. If you don’t, you have to pay for that lesson yourself. If you don’t learn it the first time, life will keep on charging you the subsequent lessons until you learn it. You and you alone can keep yourself out of harms way and not have to pay for life’s lessons.

[Author]

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