So wha. The banks are b*****ds and should write off at least half the negative equity because of the part they played in the bubble. Our foreclosure laws are useless remember. In other advanced economies debt forgiveness and jingle mail is the name of the game. Every single person that a loan is made to is a credit ‘risk’ so the banks know that things can go belly up. Risk has been their business, no they should pay for it.
You’re slow on the uptake in this place. If it is posted on AAM, it is clearly something that cannot be countenanced here…
He seemingly is only looking to move house but not walk away from his mortgage, taking the negative equity liability with him. Nothing immoral there from where I’m standing.
Sounds wonderful except ‘they’ are now ‘we’.
Bizarre and misleading comment, I would have thought. I’m not sure why anyone who wanted to stop paying their mortgage because he didn’t want to live there anymore should get sympathy from anyone - especially if he wants a facebook campaign in his honour to start a swell of defaults on mortgages.
Or as Lenny would say. “We are where they are”.
Oops… pesky AAM threads. Make me
Yes but why exactly are we “where we are”?
This is why
At least they knew what a tracker mortgage was