The new smart financial move is walking away

[jpinpb]

sdr – I’m sorry. I didn’t mean all as in 100%. But I’ll go out on a limb and say that during the peak bubble, a very high percentage of people took advantage of the zero down. Those people do have nothing to lose except good credit for a short period of time.

The areas that I’m observing have seen minimum 15% off peak price. I don’t follow the La Costa area, which I know you do. Perhaps that area is still seeing peak prices.

[briansd1]

[quote=scaredycat]previously someone said HE WHO SIGNED THE LOAN DOCS IS AND WAS RESPONSIBLE.

I don’t know. My wife tries to use that style of argument on me concerning the 3rd kid. I think it was kind of not really my decision. it’s difficult to explain. But it was a combination of pressures. I don’t blame the government per se. But I bet they had something to dow ith it. Sure, he’s great, lot of fun, but me, responsible? Please…i was just a pawn in a much bigger game[/quote]

I can see your point of view.

Are the people who overeat responsible for their own obesity? Are smokers responsible for their own cancers?

Had the government not implicitly backed all the banks’ loans, there would not have been the reckless lending that inflated the bubble.

Consumers may not have been in their “right minds” to think things through. But the sophisticated banks and executives, armed with their models, sure were in their “right minds” when they decided to maximize profits, salaries and bonuses.

[briansd1]

[quote=scaredycat]previously someone said HE WHO SIGNED THE LOAN DOCS IS AND WAS RESPONSIBLE.

I don’t know. My wife tries to use that style of argument on me concerning the 3rd kid. I think it was kind of not really my decision. it’s difficult to explain. But it was a combination of pressures. I don’t blame the government per se. But I bet they had something to dow ith it. Sure, he’s great, lot of fun, but me, responsible? Please…i was just a pawn in a much bigger game[/quote]

I can see your point of view.

Are the people who overeat responsible for their own obesity? Are smokers responsible for their own cancers?

Had the government not implicitly backed all the banks’ loans, there would not have been the reckless lending that inflated the bubble.

Consumers may not have been in their “right minds” to think things through. But the sophisticated banks and executives, armed with their models, sure were in their “right minds” when they decided to maximize profits, salaries and bonuses.

[briansd1]

[quote=scaredycat]previously someone said HE WHO SIGNED THE LOAN DOCS IS AND WAS RESPONSIBLE.

I don’t know. My wife tries to use that style of argument on me concerning the 3rd kid. I think it was kind of not really my decision. it’s difficult to explain. But it was a combination of pressures. I don’t blame the government per se. But I bet they had something to dow ith it. Sure, he’s great, lot of fun, but me, responsible? Please…i was just a pawn in a much bigger game[/quote]

I can see your point of view.

Are the people who overeat responsible for their own obesity? Are smokers responsible for their own cancers?

Had the government not implicitly backed all the banks’ loans, there would not have been the reckless lending that inflated the bubble.

Consumers may not have been in their “right minds” to think things through. But the sophisticated banks and executives, armed with their models, sure were in their “right minds” when they decided to maximize profits, salaries and bonuses.

[briansd1]

[quote=scaredycat]previously someone said HE WHO SIGNED THE LOAN DOCS IS AND WAS RESPONSIBLE.

I don’t know. My wife tries to use that style of argument on me concerning the 3rd kid. I think it was kind of not really my decision. it’s difficult to explain. But it was a combination of pressures. I don’t blame the government per se. But I bet they had something to dow ith it. Sure, he’s great, lot of fun, but me, responsible? Please…i was just a pawn in a much bigger game[/quote]

I can see your point of view.

Are the people who overeat responsible for their own obesity? Are smokers responsible for their own cancers?

Had the government not implicitly backed all the banks’ loans, there would not have been the reckless lending that inflated the bubble.

Consumers may not have been in their “right minds” to think things through. But the sophisticated banks and executives, armed with their models, sure were in their “right minds” when they decided to maximize profits, salaries and bonuses.

[briansd1]

[quote=scaredycat]previously someone said HE WHO SIGNED THE LOAN DOCS IS AND WAS RESPONSIBLE.

I don’t know. My wife tries to use that style of argument on me concerning the 3rd kid. I think it was kind of not really my decision. it’s difficult to explain. But it was a combination of pressures. I don’t blame the government per se. But I bet they had something to dow ith it. Sure, he’s great, lot of fun, but me, responsible? Please…i was just a pawn in a much bigger game[/quote]

I can see your point of view.

Are the people who overeat responsible for their own obesity? Are smokers responsible for their own cancers?

Had the government not implicitly backed all the banks’ loans, there would not have been the reckless lending that inflated the bubble.

Consumers may not have been in their “right minds” to think things through. But the sophisticated banks and executives, armed with their models, sure were in their “right minds” when they decided to maximize profits, salaries and bonuses.

[sdrealtor]

[quote=jpinpb]sdr – I’m sorry. I didn’t mean all as in 100%. But I’ll go out on a limb and say that during the peak bubble, a very high percentage of people took advantage of the zero down. Those people do have nothing to lose except good credit for a short period of time.

The areas that I’m observing have seen minimum 15% off peak price. I don’t follow the La Costa area, which I know you do. Perhaps that area is still seeing peak prices.[/quote]

JP
I dont disagree with any of this. I just dont think people are as quick to walk away. From what I have seen I just think Dave’s post was far closer to reality in the way people look at and react in these situations.

[sdrealtor]

[quote=jpinpb]sdr – I’m sorry. I didn’t mean all as in 100%. But I’ll go out on a limb and say that during the peak bubble, a very high percentage of people took advantage of the zero down. Those people do have nothing to lose except good credit for a short period of time.

The areas that I’m observing have seen minimum 15% off peak price. I don’t follow the La Costa area, which I know you do. Perhaps that area is still seeing peak prices.[/quote]

JP
I dont disagree with any of this. I just dont think people are as quick to walk away. From what I have seen I just think Dave’s post was far closer to reality in the way people look at and react in these situations.

[sdrealtor]

[quote=jpinpb]sdr – I’m sorry. I didn’t mean all as in 100%. But I’ll go out on a limb and say that during the peak bubble, a very high percentage of people took advantage of the zero down. Those people do have nothing to lose except good credit for a short period of time.

The areas that I’m observing have seen minimum 15% off peak price. I don’t follow the La Costa area, which I know you do. Perhaps that area is still seeing peak prices.[/quote]

JP
I dont disagree with any of this. I just dont think people are as quick to walk away. From what I have seen I just think Dave’s post was far closer to reality in the way people look at and react in these situations.

[sdrealtor]

[quote=jpinpb]sdr – I’m sorry. I didn’t mean all as in 100%. But I’ll go out on a limb and say that during the peak bubble, a very high percentage of people took advantage of the zero down. Those people do have nothing to lose except good credit for a short period of time.

The areas that I’m observing have seen minimum 15% off peak price. I don’t follow the La Costa area, which I know you do. Perhaps that area is still seeing peak prices.[/quote]

JP
I dont disagree with any of this. I just dont think people are as quick to walk away. From what I have seen I just think Dave’s post was far closer to reality in the way people look at and react in these situations.

[sdrealtor]

[quote=jpinpb]sdr – I’m sorry. I didn’t mean all as in 100%. But I’ll go out on a limb and say that during the peak bubble, a very high percentage of people took advantage of the zero down. Those people do have nothing to lose except good credit for a short period of time.

The areas that I’m observing have seen minimum 15% off peak price. I don’t follow the La Costa area, which I know you do. Perhaps that area is still seeing peak prices.[/quote]

JP
I dont disagree with any of this. I just dont think people are as quick to walk away. From what I have seen I just think Dave’s post was far closer to reality in the way people look at and react in these situations.

[outtamojo]

Great post Davelj! As some walkers in Ca. recently found out, it is too early to proclaim that simply walking away is smart or as easy as some make it out to be.I cringe when I hear such advice given out- it’s not the adviser who’s gonna suffer any consequences, they’ll be long gone just like those loan officers who promised folks they could just refi their teaser loan later into another one.

[outtamojo]

Great post Davelj! As some walkers in Ca. recently found out, it is too early to proclaim that simply walking away is smart or as easy as some make it out to be.I cringe when I hear such advice given out- it’s not the adviser who’s gonna suffer any consequences, they’ll be long gone just like those loan officers who promised folks they could just refi their teaser loan later into another one.

[outtamojo]

Great post Davelj! As some walkers in Ca. recently found out, it is too early to proclaim that simply walking away is smart or as easy as some make it out to be.I cringe when I hear such advice given out- it’s not the adviser who’s gonna suffer any consequences, they’ll be long gone just like those loan officers who promised folks they could just refi their teaser loan later into another one.

[outtamojo]

Great post Davelj! As some walkers in Ca. recently found out, it is too early to proclaim that simply walking away is smart or as easy as some make it out to be.I cringe when I hear such advice given out- it’s not the adviser who’s gonna suffer any consequences, they’ll be long gone just like those loan officers who promised folks they could just refi their teaser loan later into another one.

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