Viral Nature of Walking Away

[davelj]

[quote=Arraya]Dave, what does “fault” have to do with anything. Nobody makes a decision on whether to keep bubble priced home based on “fault” of a poor market timing decision, that is ridiculous. If they want to and do not, it is not because of the righteousness of unnecessarily punishing themselves for a poor market timing decision. That would be masochistic and insane. [/quote]

This is where we differ and will likely never agree. I’m old fashioned when it comes to debt repayment (and meeting obligations in general where one’s word has been given). I will meet every financial obligation I have, regardless of the inconvenience to me, and regardless of what I could game out of the agreement, right up to the point of having to declare bankruptcy. At that point, the jig is up – there’s a complete inability to pay. No other choice. But prior to that point, I’ll pay. No matter what. I don’t care how many times the loan has been sliced and diced and sold or who owns it – my word is my bond. Period.

If that’s masochistic and insane, then so be it. I try my best to do business with others who are masochistic and insane like me.

[davelj]

[quote=scaredycat]chicken and egg. there wouldn’t be a buyer without a mortgage. least not at the dumb price possible with amortgage. the bank sts it all in motion by making the money available.

kinda like drugs. the bank is the dealer, the homedweller is the druggie. yeah, there wouldn’t be any drug trade without eager users, but ya gotta have a salesman and there is definitely nothing happening without asteady supply of drugs. i’d say the prime mover in the drug example is the drug dealer, adn i’d say the prime mover in real estate is the finance. it’s all about access to big piles of money, rights?
[/quote]

Ok, so you’re in the camp of the folks who sue McDonalds because they’re fat, right? “I’m weak! I can’t resist those tasty Big Macs. That special sauce is just too special!! Make them stop!!”

And how have YOU managed to avoid the drugs (money) that the dealers (lenders) have been peddling? Are you that much smarter than everyone else? I doubt it. I assume you’re somewhat sensible and responsible. The folks who availed themselves of the financing and bought at inflated prices with little money down were neither sensible nor responsible. And neither were the banks that lent money to them. But if more folks had acted like you – scaredycat – and me, we wouldn’t be in the mess we’re in today.

So, it’s ironic that you defend the “demand” side of this equation, when clearly you’ve been successful at resisting the available supply… despite all of the tasty cheeseburgers (loans) available to fatten you up.

[davelj]

[quote=scaredycat]chicken and egg. there wouldn’t be a buyer without a mortgage. least not at the dumb price possible with amortgage. the bank sts it all in motion by making the money available.

kinda like drugs. the bank is the dealer, the homedweller is the druggie. yeah, there wouldn’t be any drug trade without eager users, but ya gotta have a salesman and there is definitely nothing happening without asteady supply of drugs. i’d say the prime mover in the drug example is the drug dealer, adn i’d say the prime mover in real estate is the finance. it’s all about access to big piles of money, rights?
[/quote]

Ok, so you’re in the camp of the folks who sue McDonalds because they’re fat, right? “I’m weak! I can’t resist those tasty Big Macs. That special sauce is just too special!! Make them stop!!”

And how have YOU managed to avoid the drugs (money) that the dealers (lenders) have been peddling? Are you that much smarter than everyone else? I doubt it. I assume you’re somewhat sensible and responsible. The folks who availed themselves of the financing and bought at inflated prices with little money down were neither sensible nor responsible. And neither were the banks that lent money to them. But if more folks had acted like you – scaredycat – and me, we wouldn’t be in the mess we’re in today.

So, it’s ironic that you defend the “demand” side of this equation, when clearly you’ve been successful at resisting the available supply… despite all of the tasty cheeseburgers (loans) available to fatten you up.

[davelj]

[quote=scaredycat]chicken and egg. there wouldn’t be a buyer without a mortgage. least not at the dumb price possible with amortgage. the bank sts it all in motion by making the money available.

kinda like drugs. the bank is the dealer, the homedweller is the druggie. yeah, there wouldn’t be any drug trade without eager users, but ya gotta have a salesman and there is definitely nothing happening without asteady supply of drugs. i’d say the prime mover in the drug example is the drug dealer, adn i’d say the prime mover in real estate is the finance. it’s all about access to big piles of money, rights?
[/quote]

Ok, so you’re in the camp of the folks who sue McDonalds because they’re fat, right? “I’m weak! I can’t resist those tasty Big Macs. That special sauce is just too special!! Make them stop!!”

And how have YOU managed to avoid the drugs (money) that the dealers (lenders) have been peddling? Are you that much smarter than everyone else? I doubt it. I assume you’re somewhat sensible and responsible. The folks who availed themselves of the financing and bought at inflated prices with little money down were neither sensible nor responsible. And neither were the banks that lent money to them. But if more folks had acted like you – scaredycat – and me, we wouldn’t be in the mess we’re in today.

So, it’s ironic that you defend the “demand” side of this equation, when clearly you’ve been successful at resisting the available supply… despite all of the tasty cheeseburgers (loans) available to fatten you up.

[davelj]

[quote=scaredycat]chicken and egg. there wouldn’t be a buyer without a mortgage. least not at the dumb price possible with amortgage. the bank sts it all in motion by making the money available.

kinda like drugs. the bank is the dealer, the homedweller is the druggie. yeah, there wouldn’t be any drug trade without eager users, but ya gotta have a salesman and there is definitely nothing happening without asteady supply of drugs. i’d say the prime mover in the drug example is the drug dealer, adn i’d say the prime mover in real estate is the finance. it’s all about access to big piles of money, rights?
[/quote]

Ok, so you’re in the camp of the folks who sue McDonalds because they’re fat, right? “I’m weak! I can’t resist those tasty Big Macs. That special sauce is just too special!! Make them stop!!”

And how have YOU managed to avoid the drugs (money) that the dealers (lenders) have been peddling? Are you that much smarter than everyone else? I doubt it. I assume you’re somewhat sensible and responsible. The folks who availed themselves of the financing and bought at inflated prices with little money down were neither sensible nor responsible. And neither were the banks that lent money to them. But if more folks had acted like you – scaredycat – and me, we wouldn’t be in the mess we’re in today.

So, it’s ironic that you defend the “demand” side of this equation, when clearly you’ve been successful at resisting the available supply… despite all of the tasty cheeseburgers (loans) available to fatten you up.

[davelj]

[quote=scaredycat]chicken and egg. there wouldn’t be a buyer without a mortgage. least not at the dumb price possible with amortgage. the bank sts it all in motion by making the money available.

kinda like drugs. the bank is the dealer, the homedweller is the druggie. yeah, there wouldn’t be any drug trade without eager users, but ya gotta have a salesman and there is definitely nothing happening without asteady supply of drugs. i’d say the prime mover in the drug example is the drug dealer, adn i’d say the prime mover in real estate is the finance. it’s all about access to big piles of money, rights?
[/quote]

Ok, so you’re in the camp of the folks who sue McDonalds because they’re fat, right? “I’m weak! I can’t resist those tasty Big Macs. That special sauce is just too special!! Make them stop!!”

And how have YOU managed to avoid the drugs (money) that the dealers (lenders) have been peddling? Are you that much smarter than everyone else? I doubt it. I assume you’re somewhat sensible and responsible. The folks who availed themselves of the financing and bought at inflated prices with little money down were neither sensible nor responsible. And neither were the banks that lent money to them. But if more folks had acted like you – scaredycat – and me, we wouldn’t be in the mess we’re in today.

So, it’s ironic that you defend the “demand” side of this equation, when clearly you’ve been successful at resisting the available supply… despite all of the tasty cheeseburgers (loans) available to fatten you up.

[Arraya]

The whole corporate world operates in this fashion. Actually, laws are broken on a consistent basis if the benefit outweighs the fine. It has been this way forever. Because purely profit driven entities are sociopathic by definition. Now people are doing it and we don’t like it. I find that highly hypocritical of capitalist ideologues.

Also, you can’t place higher “fault” on borrowers than banks(the sophisticated party) for the contract the two entities agreed to. Nobody had a gun to the banks head. They were pursuing business just as the borrower was pursuing a home. Boohoo the good natured banks were taken advantage of, nonsense

Welcome to the metastasis of this behavior, it won’t be long before death. This suckers going down.

[Arraya]

The whole corporate world operates in this fashion. Actually, laws are broken on a consistent basis if the benefit outweighs the fine. It has been this way forever. Because purely profit driven entities are sociopathic by definition. Now people are doing it and we don’t like it. I find that highly hypocritical of capitalist ideologues.

Also, you can’t place higher “fault” on borrowers than banks(the sophisticated party) for the contract the two entities agreed to. Nobody had a gun to the banks head. They were pursuing business just as the borrower was pursuing a home. Boohoo the good natured banks were taken advantage of, nonsense

Welcome to the metastasis of this behavior, it won’t be long before death. This suckers going down.

[Arraya]

The whole corporate world operates in this fashion. Actually, laws are broken on a consistent basis if the benefit outweighs the fine. It has been this way forever. Because purely profit driven entities are sociopathic by definition. Now people are doing it and we don’t like it. I find that highly hypocritical of capitalist ideologues.

Also, you can’t place higher “fault” on borrowers than banks(the sophisticated party) for the contract the two entities agreed to. Nobody had a gun to the banks head. They were pursuing business just as the borrower was pursuing a home. Boohoo the good natured banks were taken advantage of, nonsense

Welcome to the metastasis of this behavior, it won’t be long before death. This suckers going down.

[Arraya]

The whole corporate world operates in this fashion. Actually, laws are broken on a consistent basis if the benefit outweighs the fine. It has been this way forever. Because purely profit driven entities are sociopathic by definition. Now people are doing it and we don’t like it. I find that highly hypocritical of capitalist ideologues.

Also, you can’t place higher “fault” on borrowers than banks(the sophisticated party) for the contract the two entities agreed to. Nobody had a gun to the banks head. They were pursuing business just as the borrower was pursuing a home. Boohoo the good natured banks were taken advantage of, nonsense

Welcome to the metastasis of this behavior, it won’t be long before death. This suckers going down.

[Arraya]

The whole corporate world operates in this fashion. Actually, laws are broken on a consistent basis if the benefit outweighs the fine. It has been this way forever. Because purely profit driven entities are sociopathic by definition. Now people are doing it and we don’t like it. I find that highly hypocritical of capitalist ideologues.

Also, you can’t place higher “fault” on borrowers than banks(the sophisticated party) for the contract the two entities agreed to. Nobody had a gun to the banks head. They were pursuing business just as the borrower was pursuing a home. Boohoo the good natured banks were taken advantage of, nonsense

Welcome to the metastasis of this behavior, it won’t be long before death. This suckers going down.

[davelj]

[quote=Arraya] This suckers going down.[/quote]

Well, by definition, eventually you’ll be right. I just have serious doubts that it’s going to happen in my lifetime – at least not to the extent that you desire.

[davelj]

[quote=Arraya] This suckers going down.[/quote]

Well, by definition, eventually you’ll be right. I just have serious doubts that it’s going to happen in my lifetime – at least not to the extent that you desire.

[davelj]

[quote=Arraya] This suckers going down.[/quote]

Well, by definition, eventually you’ll be right. I just have serious doubts that it’s going to happen in my lifetime – at least not to the extent that you desire.

[davelj]

[quote=Arraya] This suckers going down.[/quote]

Well, by definition, eventually you’ll be right. I just have serious doubts that it’s going to happen in my lifetime – at least not to the extent that you desire.

[Author]

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