Underwater Homeowners Thread

[TheBreeze]

No intelligent business person would have ever offered 110% interest-only loans. You will only see that type of ‘deal’ offered by banks who are using other people’s money and are backed by the state. That is where the socialism comes into play.

If the bank is sufficiently collateralized against your business loan, then it can be characterized as a business transaction. If it is not, then yes, you are feeding at the government trough. It’s the same thing that welfare queens do, but you somehow fashion yourself as a legitimate business person. I laugh at that characterization.

[sdnerd]

[quote=TheBreeze]No intelligent business person would have ever offered 110% interest-only loans. You will only see that type of ‘deal’ offered by banks who are using other people’s money and are backed by the state. That is where the socialism comes into play.

If the bank is sufficiently collateralized against your business loan, then it can be characterized as a business transaction. If it is not, then yes, you are feeding at the government trough. It’s the same thing that welfare queens do, but you somehow fashion yourself as a legitimate business person. I laugh at that characterization.[/quote]

I’d argue no intelligent business person would continue to pay their mortgage if they could buy the same house next door for 50% less.

Have you ever run your own business? Just curious.

From your stance, I am similar to a welfare queen because I took out a business loan from a bank without verifying if they had sufficient collateral to make the loan. Of course I paid back the entire loan, and all of it’s interest. And the government certainly had no qualms in taxing the crap out of myself and my company last year.

Here’s a common definition of a welfare queen:

“A welfare queen is a pejorative phrase used in the United States to describe women who are accused of collecting excessive welfare payments through fraud or manipulation.”

In your plight to broadly categorize people, I would at a minimum suggest you choose a better mascot.

[sdnerd]

[quote=TheBreeze]No intelligent business person would have ever offered 110% interest-only loans. You will only see that type of ‘deal’ offered by banks who are using other people’s money and are backed by the state. That is where the socialism comes into play.

If the bank is sufficiently collateralized against your business loan, then it can be characterized as a business transaction. If it is not, then yes, you are feeding at the government trough. It’s the same thing that welfare queens do, but you somehow fashion yourself as a legitimate business person. I laugh at that characterization.[/quote]

I’d argue no intelligent business person would continue to pay their mortgage if they could buy the same house next door for 50% less.

Have you ever run your own business? Just curious.

From your stance, I am similar to a welfare queen because I took out a business loan from a bank without verifying if they had sufficient collateral to make the loan. Of course I paid back the entire loan, and all of it’s interest. And the government certainly had no qualms in taxing the crap out of myself and my company last year.

Here’s a common definition of a welfare queen:

“A welfare queen is a pejorative phrase used in the United States to describe women who are accused of collecting excessive welfare payments through fraud or manipulation.”

In your plight to broadly categorize people, I would at a minimum suggest you choose a better mascot.

[sdnerd]

[quote=TheBreeze]No intelligent business person would have ever offered 110% interest-only loans. You will only see that type of ‘deal’ offered by banks who are using other people’s money and are backed by the state. That is where the socialism comes into play.

If the bank is sufficiently collateralized against your business loan, then it can be characterized as a business transaction. If it is not, then yes, you are feeding at the government trough. It’s the same thing that welfare queens do, but you somehow fashion yourself as a legitimate business person. I laugh at that characterization.[/quote]

I’d argue no intelligent business person would continue to pay their mortgage if they could buy the same house next door for 50% less.

Have you ever run your own business? Just curious.

From your stance, I am similar to a welfare queen because I took out a business loan from a bank without verifying if they had sufficient collateral to make the loan. Of course I paid back the entire loan, and all of it’s interest. And the government certainly had no qualms in taxing the crap out of myself and my company last year.

Here’s a common definition of a welfare queen:

“A welfare queen is a pejorative phrase used in the United States to describe women who are accused of collecting excessive welfare payments through fraud or manipulation.”

In your plight to broadly categorize people, I would at a minimum suggest you choose a better mascot.

[sdnerd]

[quote=TheBreeze]No intelligent business person would have ever offered 110% interest-only loans. You will only see that type of ‘deal’ offered by banks who are using other people’s money and are backed by the state. That is where the socialism comes into play.

If the bank is sufficiently collateralized against your business loan, then it can be characterized as a business transaction. If it is not, then yes, you are feeding at the government trough. It’s the same thing that welfare queens do, but you somehow fashion yourself as a legitimate business person. I laugh at that characterization.[/quote]

I’d argue no intelligent business person would continue to pay their mortgage if they could buy the same house next door for 50% less.

Have you ever run your own business? Just curious.

From your stance, I am similar to a welfare queen because I took out a business loan from a bank without verifying if they had sufficient collateral to make the loan. Of course I paid back the entire loan, and all of it’s interest. And the government certainly had no qualms in taxing the crap out of myself and my company last year.

Here’s a common definition of a welfare queen:

“A welfare queen is a pejorative phrase used in the United States to describe women who are accused of collecting excessive welfare payments through fraud or manipulation.”

In your plight to broadly categorize people, I would at a minimum suggest you choose a better mascot.

[sdnerd]

[quote=TheBreeze]No intelligent business person would have ever offered 110% interest-only loans. You will only see that type of ‘deal’ offered by banks who are using other people’s money and are backed by the state. That is where the socialism comes into play.

If the bank is sufficiently collateralized against your business loan, then it can be characterized as a business transaction. If it is not, then yes, you are feeding at the government trough. It’s the same thing that welfare queens do, but you somehow fashion yourself as a legitimate business person. I laugh at that characterization.[/quote]

I’d argue no intelligent business person would continue to pay their mortgage if they could buy the same house next door for 50% less.

Have you ever run your own business? Just curious.

From your stance, I am similar to a welfare queen because I took out a business loan from a bank without verifying if they had sufficient collateral to make the loan. Of course I paid back the entire loan, and all of it’s interest. And the government certainly had no qualms in taxing the crap out of myself and my company last year.

Here’s a common definition of a welfare queen:

“A welfare queen is a pejorative phrase used in the United States to describe women who are accused of collecting excessive welfare payments through fraud or manipulation.”

In your plight to broadly categorize people, I would at a minimum suggest you choose a better mascot.

[ibjames]

you guys are missing the point.. he’s not a FB.. he’s a guy that can afford his house, but now he sees other houses that are bigger and better, and NOW wants to get a loan mod because his house is even cheaper.

He’s not under financial duress.. he hasn’t lost his job, nothing.. he is looking and seeing the grass is greener and is willing to just dump his house so he can get a bigger house

If I remember correctly, it’s even cheaper than the rent he was paying at that time, he can afford it, he just wants something better now.

Which is just PURE greed

[ibjames]

you guys are missing the point.. he’s not a FB.. he’s a guy that can afford his house, but now he sees other houses that are bigger and better, and NOW wants to get a loan mod because his house is even cheaper.

He’s not under financial duress.. he hasn’t lost his job, nothing.. he is looking and seeing the grass is greener and is willing to just dump his house so he can get a bigger house

If I remember correctly, it’s even cheaper than the rent he was paying at that time, he can afford it, he just wants something better now.

Which is just PURE greed

[ibjames]

you guys are missing the point.. he’s not a FB.. he’s a guy that can afford his house, but now he sees other houses that are bigger and better, and NOW wants to get a loan mod because his house is even cheaper.

He’s not under financial duress.. he hasn’t lost his job, nothing.. he is looking and seeing the grass is greener and is willing to just dump his house so he can get a bigger house

If I remember correctly, it’s even cheaper than the rent he was paying at that time, he can afford it, he just wants something better now.

Which is just PURE greed

[ibjames]

you guys are missing the point.. he’s not a FB.. he’s a guy that can afford his house, but now he sees other houses that are bigger and better, and NOW wants to get a loan mod because his house is even cheaper.

He’s not under financial duress.. he hasn’t lost his job, nothing.. he is looking and seeing the grass is greener and is willing to just dump his house so he can get a bigger house

If I remember correctly, it’s even cheaper than the rent he was paying at that time, he can afford it, he just wants something better now.

Which is just PURE greed

[ibjames]

you guys are missing the point.. he’s not a FB.. he’s a guy that can afford his house, but now he sees other houses that are bigger and better, and NOW wants to get a loan mod because his house is even cheaper.

He’s not under financial duress.. he hasn’t lost his job, nothing.. he is looking and seeing the grass is greener and is willing to just dump his house so he can get a bigger house

If I remember correctly, it’s even cheaper than the rent he was paying at that time, he can afford it, he just wants something better now.

Which is just PURE greed

[scaredyclassic]

perhaps someone shoudl come tot he defense of welfare queens. we use that term like it’s a bad thing. I remember reading somewhere that it’s actually better for the economy for some people to receive welfare than to glut up the employment market, that welfare is actually efficient. moreover, people on welfare have more time to commit to their families, since they don’t have to do the harried “drop teh kdis off at day care to go to a meaningless job” dance. perhaps if more people went on welfare we wouldnt be in the mess we’re in today. “productivity”, “consumption”, “profit”, all of these things may be way overrated. I’d be willing to admit im a welfare king because my student loans were somewhat subsidized, but I will continue to refuse to admit to being a welfare queen. it also seems a bit sexist to limit the discussion to welfare queens, and welfare king sounds a little weird, because we expect the welfarist to milk the system to feed the kids. The welfare king on the other hand, is a term I may have just coined. If anyone wants to print up t-shirts that say ‘WELFARE KING”, I will promise contractually here to buy one from the first seller, this contract binding on my heirs and assings, in perpetuity, non-assignable, backstaopped byt he taxpayers in the event of my bankruptcy or default…so just gimme the damn thing for free and lets call it even…

[scaredyclassic]

perhaps someone shoudl come tot he defense of welfare queens. we use that term like it’s a bad thing. I remember reading somewhere that it’s actually better for the economy for some people to receive welfare than to glut up the employment market, that welfare is actually efficient. moreover, people on welfare have more time to commit to their families, since they don’t have to do the harried “drop teh kdis off at day care to go to a meaningless job” dance. perhaps if more people went on welfare we wouldnt be in the mess we’re in today. “productivity”, “consumption”, “profit”, all of these things may be way overrated. I’d be willing to admit im a welfare king because my student loans were somewhat subsidized, but I will continue to refuse to admit to being a welfare queen. it also seems a bit sexist to limit the discussion to welfare queens, and welfare king sounds a little weird, because we expect the welfarist to milk the system to feed the kids. The welfare king on the other hand, is a term I may have just coined. If anyone wants to print up t-shirts that say ‘WELFARE KING”, I will promise contractually here to buy one from the first seller, this contract binding on my heirs and assings, in perpetuity, non-assignable, backstaopped byt he taxpayers in the event of my bankruptcy or default…so just gimme the damn thing for free and lets call it even…

[scaredyclassic]

perhaps someone shoudl come tot he defense of welfare queens. we use that term like it’s a bad thing. I remember reading somewhere that it’s actually better for the economy for some people to receive welfare than to glut up the employment market, that welfare is actually efficient. moreover, people on welfare have more time to commit to their families, since they don’t have to do the harried “drop teh kdis off at day care to go to a meaningless job” dance. perhaps if more people went on welfare we wouldnt be in the mess we’re in today. “productivity”, “consumption”, “profit”, all of these things may be way overrated. I’d be willing to admit im a welfare king because my student loans were somewhat subsidized, but I will continue to refuse to admit to being a welfare queen. it also seems a bit sexist to limit the discussion to welfare queens, and welfare king sounds a little weird, because we expect the welfarist to milk the system to feed the kids. The welfare king on the other hand, is a term I may have just coined. If anyone wants to print up t-shirts that say ‘WELFARE KING”, I will promise contractually here to buy one from the first seller, this contract binding on my heirs and assings, in perpetuity, non-assignable, backstaopped byt he taxpayers in the event of my bankruptcy or default…so just gimme the damn thing for free and lets call it even…

[scaredyclassic]

perhaps someone shoudl come tot he defense of welfare queens. we use that term like it’s a bad thing. I remember reading somewhere that it’s actually better for the economy for some people to receive welfare than to glut up the employment market, that welfare is actually efficient. moreover, people on welfare have more time to commit to their families, since they don’t have to do the harried “drop teh kdis off at day care to go to a meaningless job” dance. perhaps if more people went on welfare we wouldnt be in the mess we’re in today. “productivity”, “consumption”, “profit”, all of these things may be way overrated. I’d be willing to admit im a welfare king because my student loans were somewhat subsidized, but I will continue to refuse to admit to being a welfare queen. it also seems a bit sexist to limit the discussion to welfare queens, and welfare king sounds a little weird, because we expect the welfarist to milk the system to feed the kids. The welfare king on the other hand, is a term I may have just coined. If anyone wants to print up t-shirts that say ‘WELFARE KING”, I will promise contractually here to buy one from the first seller, this contract binding on my heirs and assings, in perpetuity, non-assignable, backstaopped byt he taxpayers in the event of my bankruptcy or default…so just gimme the damn thing for free and lets call it even…

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