Why not walk away?

[kewp]

Well your credit is going to get dinged, so no one is going to want to lend you money to buy a house again anytime soon.

HOWEVER, given that tossing the keys will be the new black for ’08 I would not be surprised if lenders once again lowered their standards in the future to drum up business.

[sandiego]

If I save $3000 per month renting for the next 7 years, I would have a pretty good downpayment. After living through 1990-1997 and now, I think that homeownership is overrated.

What are the banks (and builders/ car dealers) going to do when they have 2+ million customers with credit dings due to bad loans in the next few years, not make loans? That seems like a pretty big number of customers to ignore.

[sandiego]

If I save $3000 per month renting for the next 7 years, I would have a pretty good downpayment. After living through 1990-1997 and now, I think that homeownership is overrated.

What are the banks (and builders/ car dealers) going to do when they have 2+ million customers with credit dings due to bad loans in the next few years, not make loans? That seems like a pretty big number of customers to ignore.

[sandiego]

If I save $3000 per month renting for the next 7 years, I would have a pretty good downpayment. After living through 1990-1997 and now, I think that homeownership is overrated.

What are the banks (and builders/ car dealers) going to do when they have 2+ million customers with credit dings due to bad loans in the next few years, not make loans? That seems like a pretty big number of customers to ignore.

[sandiego]

If I save $3000 per month renting for the next 7 years, I would have a pretty good downpayment. After living through 1990-1997 and now, I think that homeownership is overrated.

What are the banks (and builders/ car dealers) going to do when they have 2+ million customers with credit dings due to bad loans in the next few years, not make loans? That seems like a pretty big number of customers to ignore.

[sandiego]

If I save $3000 per month renting for the next 7 years, I would have a pretty good downpayment. After living through 1990-1997 and now, I think that homeownership is overrated.

What are the banks (and builders/ car dealers) going to do when they have 2+ million customers with credit dings due to bad loans in the next few years, not make loans? That seems like a pretty big number of customers to ignore.

[betting on fall]

Why don’t you just demand that the goverment lower your loan balance. Get a protest started. Government should bail you out in no time.

But seriously, I do think a far better way the goverment could deal with this is giving people a mulligan- The right to eliminate any one ding from your credit report.
Now I haven’t thought through all implications of this, but overall I thinks its far better than the goverment’s current bailout plan of encouraging debt servitude by keeping people in bad deals.

[betting on fall]

Why don’t you just demand that the goverment lower your loan balance. Get a protest started. Government should bail you out in no time.

But seriously, I do think a far better way the goverment could deal with this is giving people a mulligan- The right to eliminate any one ding from your credit report.
Now I haven’t thought through all implications of this, but overall I thinks its far better than the goverment’s current bailout plan of encouraging debt servitude by keeping people in bad deals.

[betting on fall]

Why don’t you just demand that the goverment lower your loan balance. Get a protest started. Government should bail you out in no time.

But seriously, I do think a far better way the goverment could deal with this is giving people a mulligan- The right to eliminate any one ding from your credit report.
Now I haven’t thought through all implications of this, but overall I thinks its far better than the goverment’s current bailout plan of encouraging debt servitude by keeping people in bad deals.

[betting on fall]

Why don’t you just demand that the goverment lower your loan balance. Get a protest started. Government should bail you out in no time.

But seriously, I do think a far better way the goverment could deal with this is giving people a mulligan- The right to eliminate any one ding from your credit report.
Now I haven’t thought through all implications of this, but overall I thinks its far better than the goverment’s current bailout plan of encouraging debt servitude by keeping people in bad deals.

[betting on fall]

Why don’t you just demand that the goverment lower your loan balance. Get a protest started. Government should bail you out in no time.

But seriously, I do think a far better way the goverment could deal with this is giving people a mulligan- The right to eliminate any one ding from your credit report.
Now I haven’t thought through all implications of this, but overall I thinks its far better than the goverment’s current bailout plan of encouraging debt servitude by keeping people in bad deals.

[sandiego]

I am not asking for anything from the Gov’t. I am willing to take my lumps on my credit.

I didn’t cause this problem (by taking out a bad loan), but I am suffering for it because my neighbors did.

[sandiego]

I am not asking for anything from the Gov’t. I am willing to take my lumps on my credit.

I didn’t cause this problem (by taking out a bad loan), but I am suffering for it because my neighbors did.

[sandiego]

I am not asking for anything from the Gov’t. I am willing to take my lumps on my credit.

I didn’t cause this problem (by taking out a bad loan), but I am suffering for it because my neighbors did.

[sandiego]

I am not asking for anything from the Gov’t. I am willing to take my lumps on my credit.

I didn’t cause this problem (by taking out a bad loan), but I am suffering for it because my neighbors did.

[Author]

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