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moneymaker
ParticipantWhy must countrywide step out.Your brother wants to own a condo for $1000/mo.,yeah right! I personally think the deal offered is too good to be true,there has to be a catch there somewhere. If I thought I could get 3.5% on my mortgage I would stop paying right away.-TG maybe your prof told the first guy he would get an A if he could make the rest of you guys go away! Good story though,the analogy might be right on.
ParticipantWhy must countrywide step out.Your brother wants to own a condo for $1000/mo.,yeah right! I personally think the deal offered is too good to be true,there has to be a catch there somewhere. If I thought I could get 3.5% on my mortgage I would stop paying right away.-TG maybe your prof told the first guy he would get an A if he could make the rest of you guys go away! Good story though,the analogy might be right on.
July 17, 2009 at 4:15 AM in reply to: Ethical considerations (none) for defaulting on non-recourse loan. #432189ParticipantA lot of verbage,but the main point of most posters is that just because it’s legal does not make it right. I can go out and legally cheat on my wife, but that doesn’t make it ethical. Another big question for me is who really owns the house?Homebuyer is required to get banks approval to sell,so do you really own the house?If you really owned the house you could sell it at any price and just be held liable for the difference,but I don’t think it works that way because the powers that be recognize that the system could then be manipulated to find debtor scapegoats to defraud people,well isn’t that what ended up happening anyway.
July 17, 2009 at 4:15 AM in reply to: Ethical considerations (none) for defaulting on non-recourse loan. #432402ParticipantA lot of verbage,but the main point of most posters is that just because it’s legal does not make it right. I can go out and legally cheat on my wife, but that doesn’t make it ethical. Another big question for me is who really owns the house?Homebuyer is required to get banks approval to sell,so do you really own the house?If you really owned the house you could sell it at any price and just be held liable for the difference,but I don’t think it works that way because the powers that be recognize that the system could then be manipulated to find debtor scapegoats to defraud people,well isn’t that what ended up happening anyway.
July 17, 2009 at 4:15 AM in reply to: Ethical considerations (none) for defaulting on non-recourse loan. #432703ParticipantA lot of verbage,but the main point of most posters is that just because it’s legal does not make it right. I can go out and legally cheat on my wife, but that doesn’t make it ethical. Another big question for me is who really owns the house?Homebuyer is required to get banks approval to sell,so do you really own the house?If you really owned the house you could sell it at any price and just be held liable for the difference,but I don’t think it works that way because the powers that be recognize that the system could then be manipulated to find debtor scapegoats to defraud people,well isn’t that what ended up happening anyway.
July 17, 2009 at 4:15 AM in reply to: Ethical considerations (none) for defaulting on non-recourse loan. #432775ParticipantA lot of verbage,but the main point of most posters is that just because it’s legal does not make it right. I can go out and legally cheat on my wife, but that doesn’t make it ethical. Another big question for me is who really owns the house?Homebuyer is required to get banks approval to sell,so do you really own the house?If you really owned the house you could sell it at any price and just be held liable for the difference,but I don’t think it works that way because the powers that be recognize that the system could then be manipulated to find debtor scapegoats to defraud people,well isn’t that what ended up happening anyway.
July 17, 2009 at 4:15 AM in reply to: Ethical considerations (none) for defaulting on non-recourse loan. #432936ParticipantA lot of verbage,but the main point of most posters is that just because it’s legal does not make it right. I can go out and legally cheat on my wife, but that doesn’t make it ethical. Another big question for me is who really owns the house?Homebuyer is required to get banks approval to sell,so do you really own the house?If you really owned the house you could sell it at any price and just be held liable for the difference,but I don’t think it works that way because the powers that be recognize that the system could then be manipulated to find debtor scapegoats to defraud people,well isn’t that what ended up happening anyway.
ParticipantHaven’t read the link or watched the utube yet, but doesn’t it make more sense to report % of population that is employed. You know like 85% employment right now, or what ever it is. I am always amazed at how many people seem to be home allday,I know some work from home and others have flexible jobs such as realtors, but it just boggles my mind when I’m in a residential neighborhood and I can’t find a place to park on the street in the middle of the day.
This would be the perfect time to put the positive spin on it, doesn’t 90% employment sound better than 10% unemployment.If only it were true?ParticipantHaven’t read the link or watched the utube yet, but doesn’t it make more sense to report % of population that is employed. You know like 85% employment right now, or what ever it is. I am always amazed at how many people seem to be home allday,I know some work from home and others have flexible jobs such as realtors, but it just boggles my mind when I’m in a residential neighborhood and I can’t find a place to park on the street in the middle of the day.
This would be the perfect time to put the positive spin on it, doesn’t 90% employment sound better than 10% unemployment.If only it were true?ParticipantHaven’t read the link or watched the utube yet, but doesn’t it make more sense to report % of population that is employed. You know like 85% employment right now, or what ever it is. I am always amazed at how many people seem to be home allday,I know some work from home and others have flexible jobs such as realtors, but it just boggles my mind when I’m in a residential neighborhood and I can’t find a place to park on the street in the middle of the day.
This would be the perfect time to put the positive spin on it, doesn’t 90% employment sound better than 10% unemployment.If only it were true?ParticipantHaven’t read the link or watched the utube yet, but doesn’t it make more sense to report % of population that is employed. You know like 85% employment right now, or what ever it is. I am always amazed at how many people seem to be home allday,I know some work from home and others have flexible jobs such as realtors, but it just boggles my mind when I’m in a residential neighborhood and I can’t find a place to park on the street in the middle of the day.
This would be the perfect time to put the positive spin on it, doesn’t 90% employment sound better than 10% unemployment.If only it were true?ParticipantHaven’t read the link or watched the utube yet, but doesn’t it make more sense to report % of population that is employed. You know like 85% employment right now, or what ever it is. I am always amazed at how many people seem to be home allday,I know some work from home and others have flexible jobs such as realtors, but it just boggles my mind when I’m in a residential neighborhood and I can’t find a place to park on the street in the middle of the day.
This would be the perfect time to put the positive spin on it, doesn’t 90% employment sound better than 10% unemployment.If only it were true?ParticipantIf your mortgage is way over what you would be paying for rent,and I suspect it is,then yes it is a business decision. If you don’t think you will be out from under water in 7 years,then go for it. Let me caution you that we could very well have another bubble and you may ruin your credit for no reason,hell the market went up 3% yesterday,anything could happen. I’m also assuming you are not married,if you know you won’t be able to afford it when the loan resets, then you are a renter.
ParticipantIf your mortgage is way over what you would be paying for rent,and I suspect it is,then yes it is a business decision. If you don’t think you will be out from under water in 7 years,then go for it. Let me caution you that we could very well have another bubble and you may ruin your credit for no reason,hell the market went up 3% yesterday,anything could happen. I’m also assuming you are not married,if you know you won’t be able to afford it when the loan resets, then you are a renter.
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