[patb]

[quote=patientrenter]”let me know how that strategy works”

patb, I am morally offended by this whole business of borrowing without repaying in full, so it’s very difficult for me to do it. But I am in no doubt that it’s easy for a large and growing number of people. I am also pretty sure that letting that happen is not a good idea.[/quote]

well i’ve watched people forced into bankruptcy over failed
7(a) loans when the bankers came after them so, I’m very leery about
the hazard these create.

[patb]

[quote=patientrenter]patb, I’d be very interested to see the total nationwide amount, in excess of home proceeds, collected on these recourse mortages, measured as a % of the total foreclosed-on / shorted loan amount.

As many people have already pointed out, it is extraordinary for a lender to pursue a recourse mortgage loan beyond the home proceeds. It is so rare that I suspect no one considers the stats worth collecting, the collected amounts are so close to zero. Instead we have just a few anecdotes to
generate some impressions amongst the public.

I think you’d have to walk up to the loan servicer’s office and tell them they are a bunch of morons, and then spit on them, before they’d even consider pursuing collection against you. If they come after you anyway, then have an attorney send ’em a letter. If that doesn’t work (and it almost always will), then threaten to talk to the newspaper. If that doesn’t work (and it almost always would for any TARP-indebted bank/servicer), then call your local state or Congressional rep and give a sob story. I guarantee you, the number of people who have to pay is tiny. Almost anyone who doesn’t want to pay can avoid paying.

I can’t resist mentioning that Barney Frank is my Congressman. Can you imagine Citibank taking the call from his office if they pursued a recourse loan they’d given me, after I’d provided a sob story to Barney’s office? I guarantee that loan would be “taken care of” within 24 hours.[/quote]

let me know how that strategy works

[patb]

[quote=patientrenter]patb, I’d be very interested to see the total nationwide amount, in excess of home proceeds, collected on these recourse mortages, measured as a % of the total foreclosed-on / shorted loan amount.

As many people have already pointed out, it is extraordinary for a lender to pursue a recourse mortgage loan beyond the home proceeds. It is so rare that I suspect no one considers the stats worth collecting, the collected amounts are so close to zero. Instead we have just a few anecdotes to
generate some impressions amongst the public.

I think you’d have to walk up to the loan servicer’s office and tell them they are a bunch of morons, and then spit on them, before they’d even consider pursuing collection against you. If they come after you anyway, then have an attorney send ’em a letter. If that doesn’t work (and it almost always will), then threaten to talk to the newspaper. If that doesn’t work (and it almost always would for any TARP-indebted bank/servicer), then call your local state or Congressional rep and give a sob story. I guarantee you, the number of people who have to pay is tiny. Almost anyone who doesn’t want to pay can avoid paying.

I can’t resist mentioning that Barney Frank is my Congressman. Can you imagine Citibank taking the call from his office if they pursued a recourse loan they’d given me, after I’d provided a sob story to Barney’s office? I guarantee that loan would be “taken care of” within 24 hours.[/quote]

let me know how that strategy works

[patb]

[quote=patientrenter]patb, I’d be very interested to see the total nationwide amount, in excess of home proceeds, collected on these recourse mortages, measured as a % of the total foreclosed-on / shorted loan amount.

As many people have already pointed out, it is extraordinary for a lender to pursue a recourse mortgage loan beyond the home proceeds. It is so rare that I suspect no one considers the stats worth collecting, the collected amounts are so close to zero. Instead we have just a few anecdotes to
generate some impressions amongst the public.

I think you’d have to walk up to the loan servicer’s office and tell them they are a bunch of morons, and then spit on them, before they’d even consider pursuing collection against you. If they come after you anyway, then have an attorney send ’em a letter. If that doesn’t work (and it almost always will), then threaten to talk to the newspaper. If that doesn’t work (and it almost always would for any TARP-indebted bank/servicer), then call your local state or Congressional rep and give a sob story. I guarantee you, the number of people who have to pay is tiny. Almost anyone who doesn’t want to pay can avoid paying.

I can’t resist mentioning that Barney Frank is my Congressman. Can you imagine Citibank taking the call from his office if they pursued a recourse loan they’d given me, after I’d provided a sob story to Barney’s office? I guarantee that loan would be “taken care of” within 24 hours.[/quote]

let me know how that strategy works

[patb]

[quote=patientrenter]patb, I’d be very interested to see the total nationwide amount, in excess of home proceeds, collected on these recourse mortages, measured as a % of the total foreclosed-on / shorted loan amount.

As many people have already pointed out, it is extraordinary for a lender to pursue a recourse mortgage loan beyond the home proceeds. It is so rare that I suspect no one considers the stats worth collecting, the collected amounts are so close to zero. Instead we have just a few anecdotes to
generate some impressions amongst the public.

I think you’d have to walk up to the loan servicer’s office and tell them they are a bunch of morons, and then spit on them, before they’d even consider pursuing collection against you. If they come after you anyway, then have an attorney send ’em a letter. If that doesn’t work (and it almost always will), then threaten to talk to the newspaper. If that doesn’t work (and it almost always would for any TARP-indebted bank/servicer), then call your local state or Congressional rep and give a sob story. I guarantee you, the number of people who have to pay is tiny. Almost anyone who doesn’t want to pay can avoid paying.

I can’t resist mentioning that Barney Frank is my Congressman. Can you imagine Citibank taking the call from his office if they pursued a recourse loan they’d given me, after I’d provided a sob story to Barney’s office? I guarantee that loan would be “taken care of” within 24 hours.[/quote]

let me know how that strategy works

[patb]

[quote=patientrenter]patb, I’d be very interested to see the total nationwide amount, in excess of home proceeds, collected on these recourse mortages, measured as a % of the total foreclosed-on / shorted loan amount.

As many people have already pointed out, it is extraordinary for a lender to pursue a recourse mortgage loan beyond the home proceeds. It is so rare that I suspect no one considers the stats worth collecting, the collected amounts are so close to zero. Instead we have just a few anecdotes to
generate some impressions amongst the public.

I think you’d have to walk up to the loan servicer’s office and tell them they are a bunch of morons, and then spit on them, before they’d even consider pursuing collection against you. If they come after you anyway, then have an attorney send ’em a letter. If that doesn’t work (and it almost always will), then threaten to talk to the newspaper. If that doesn’t work (and it almost always would for any TARP-indebted bank/servicer), then call your local state or Congressional rep and give a sob story. I guarantee you, the number of people who have to pay is tiny. Almost anyone who doesn’t want to pay can avoid paying.

I can’t resist mentioning that Barney Frank is my Congressman. Can you imagine Citibank taking the call from his office if they pursued a recourse loan they’d given me, after I’d provided a sob story to Barney’s office? I guarantee that loan would be “taken care of” within 24 hours.[/quote]

let me know how that strategy works

[patb]

[quote=Eugene][quote=flu]
I think they (GM) still do, you just have to pay to play…

(Sorry Eugene, this thing would demolish your Z06…But’s it’s a vette too….Mmmmmmmmmmm…..)

No fat in the ZR-1

http://www.leftlanenews.com/chevrolet-corvette-zr1.html

(conveniently out of my price range) Why can’t GM sell that at 50% off?

Note to soon to be parents: buy a two seater before you have kids…Or after you have a 3 car garage…Otherwise you’re stuck with porky 4 seaters with a car seat…
[/quote]

I don’t have a Z06, I’m too cheap for that. I have a loaded low-mileage three year old 3LT, for which I paid just under 30K.

I found that having kids does not preclude me from having a two seater. I’m alone in the car 90% of the time. If I have to take one kid somewhere, I can always put him/her into the passenger seat. The only situation where you really have to sacrifice is if you have two or more kids and you routinely take them somewhere, like daycare or private school.[/quote]

that’s why they have a trunk. You should be able to get 2 of the little
monsters in car seats in the trunk and still have room to pick up chicks

[patb]

[quote=Eugene][quote=flu]
I think they (GM) still do, you just have to pay to play…

(Sorry Eugene, this thing would demolish your Z06…But’s it’s a vette too….Mmmmmmmmmmm…..)

No fat in the ZR-1

http://www.leftlanenews.com/chevrolet-corvette-zr1.html

(conveniently out of my price range) Why can’t GM sell that at 50% off?

Note to soon to be parents: buy a two seater before you have kids…Or after you have a 3 car garage…Otherwise you’re stuck with porky 4 seaters with a car seat…
[/quote]

I don’t have a Z06, I’m too cheap for that. I have a loaded low-mileage three year old 3LT, for which I paid just under 30K.

I found that having kids does not preclude me from having a two seater. I’m alone in the car 90% of the time. If I have to take one kid somewhere, I can always put him/her into the passenger seat. The only situation where you really have to sacrifice is if you have two or more kids and you routinely take them somewhere, like daycare or private school.[/quote]

that’s why they have a trunk. You should be able to get 2 of the little
monsters in car seats in the trunk and still have room to pick up chicks

[patb]

[quote=Eugene][quote=flu]
I think they (GM) still do, you just have to pay to play…

(Sorry Eugene, this thing would demolish your Z06…But’s it’s a vette too….Mmmmmmmmmmm…..)

No fat in the ZR-1

http://www.leftlanenews.com/chevrolet-corvette-zr1.html

(conveniently out of my price range) Why can’t GM sell that at 50% off?

Note to soon to be parents: buy a two seater before you have kids…Or after you have a 3 car garage…Otherwise you’re stuck with porky 4 seaters with a car seat…
[/quote]

I don’t have a Z06, I’m too cheap for that. I have a loaded low-mileage three year old 3LT, for which I paid just under 30K.

I found that having kids does not preclude me from having a two seater. I’m alone in the car 90% of the time. If I have to take one kid somewhere, I can always put him/her into the passenger seat. The only situation where you really have to sacrifice is if you have two or more kids and you routinely take them somewhere, like daycare or private school.[/quote]

that’s why they have a trunk. You should be able to get 2 of the little
monsters in car seats in the trunk and still have room to pick up chicks

[patb]

[quote=Eugene][quote=flu]
I think they (GM) still do, you just have to pay to play…

(Sorry Eugene, this thing would demolish your Z06…But’s it’s a vette too….Mmmmmmmmmmm…..)

No fat in the ZR-1

http://www.leftlanenews.com/chevrolet-corvette-zr1.html

(conveniently out of my price range) Why can’t GM sell that at 50% off?

Note to soon to be parents: buy a two seater before you have kids…Or after you have a 3 car garage…Otherwise you’re stuck with porky 4 seaters with a car seat…
[/quote]

I don’t have a Z06, I’m too cheap for that. I have a loaded low-mileage three year old 3LT, for which I paid just under 30K.

I found that having kids does not preclude me from having a two seater. I’m alone in the car 90% of the time. If I have to take one kid somewhere, I can always put him/her into the passenger seat. The only situation where you really have to sacrifice is if you have two or more kids and you routinely take them somewhere, like daycare or private school.[/quote]

that’s why they have a trunk. You should be able to get 2 of the little
monsters in car seats in the trunk and still have room to pick up chicks

[patb]

[quote=Eugene][quote=flu]
I think they (GM) still do, you just have to pay to play…

(Sorry Eugene, this thing would demolish your Z06…But’s it’s a vette too….Mmmmmmmmmmm…..)

No fat in the ZR-1

http://www.leftlanenews.com/chevrolet-corvette-zr1.html

(conveniently out of my price range) Why can’t GM sell that at 50% off?

Note to soon to be parents: buy a two seater before you have kids…Or after you have a 3 car garage…Otherwise you’re stuck with porky 4 seaters with a car seat…
[/quote]

I don’t have a Z06, I’m too cheap for that. I have a loaded low-mileage three year old 3LT, for which I paid just under 30K.

I found that having kids does not preclude me from having a two seater. I’m alone in the car 90% of the time. If I have to take one kid somewhere, I can always put him/her into the passenger seat. The only situation where you really have to sacrifice is if you have two or more kids and you routinely take them somewhere, like daycare or private school.[/quote]

that’s why they have a trunk. You should be able to get 2 of the little
monsters in car seats in the trunk and still have room to pick up chicks

[patb]

[quote=patientrenter]Why worry? If a lot of people don’t want to pay the loans back, then the loans will be ‘modified’. Presto! No more problems, and everyone is happy.[/quote]

You know how citimortgage is now suing for losses on recourse mortgages
well here it’s the IRS that gets to enforce.

[patb]

[quote=patientrenter]Why worry? If a lot of people don’t want to pay the loans back, then the loans will be ‘modified’. Presto! No more problems, and everyone is happy.[/quote]

You know how citimortgage is now suing for losses on recourse mortgages
well here it’s the IRS that gets to enforce.

[patb]

[quote=patientrenter]Why worry? If a lot of people don’t want to pay the loans back, then the loans will be ‘modified’. Presto! No more problems, and everyone is happy.[/quote]

You know how citimortgage is now suing for losses on recourse mortgages
well here it’s the IRS that gets to enforce.

[patb]

[quote=patientrenter]Why worry? If a lot of people don’t want to pay the loans back, then the loans will be ‘modified’. Presto! No more problems, and everyone is happy.[/quote]

You know how citimortgage is now suing for losses on recourse mortgages
well here it’s the IRS that gets to enforce.

[Author]

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