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shellgame26 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-19-09 11:42 PM
Response to Original message
42. something is afoot
in America. We are reaching a boiling point. I really don't know how much longer people can endure what is happening without some spontaneous eruption of revolt. The supreme court is about to declare corporate personhood and once that happens, say goodbye to any last shred of democracy remaining.
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  -Homeowners who 'strategically default' on loans a growing problem Liberal_in_LA  Sep-19-09 06:06 PM   #0 
  - I'd speculate that they better know the true value of both money and credit.  kristopher   Sep-19-09 06:10 PM   #1 
  - They do... at some point the balance 'underwater' exceeds the pain of 7 years bad credit.  Liberal_in_LA   Sep-19-09 06:11 PM   #2 
  - What psychological device did they use to deteremine intent?  Xipe Totec   Sep-19-09 06:19 PM   #3 
  - They are still paying their other bills?  Liberal_in_LA   Sep-19-09 06:21 PM   #4 
  - So, they don't have enough money to pay all their bills  Xipe Totec   Sep-19-09 06:27 PM   #5 
     - Or they might have plenty of money to pay ALL of their bills, including the mortgage.  pnwmom   Sep-19-09 08:46 PM   #22 
     - For the working poor, a home is their greatest treasure.  jasi2006   Sep-20-09 06:21 AM   #49 
        - If you owe $10,000 and can't pay, you're in trouble  izquierdista   Sep-20-09 03:37 PM   #59 
        - Excellent post. n/t  chill_wind   Sep-21-09 12:57 AM   #68 
        - I know a person who works for Wells F  MARALE   Sep-22-09 09:32 AM   #85 
     - Umm, that's not at all what's being revealed here.  kegler14   Sep-19-09 10:16 PM   #33 
     - They Have Money to Pay - And Don't  NashVegas   Sep-21-09 07:21 PM   #73 
  - You look at their past payments and bank statements  gravity   Sep-19-09 07:42 PM   #17 
  - It's a "business decision"  DoctorMyEyes   Sep-19-09 06:29 PM   #6 
  - Logical. If corporations have the same rights as individual people. Then vice-versa should be equal  Deja Q   Sep-19-09 07:08 PM   #12 
  - Yep, just becuz we have blood running though our veins  truedelphi   Sep-19-09 09:00 PM   #25 
  - Exactly..  sendero   Sep-21-09 08:48 PM   #76 
  - They're just now figuring this out? HELLO?!  Roland99   Sep-19-09 06:42 PM   #7 
  - FICO and other scoring weighs heavily on open credit  Ruby the Liberal   Sep-19-09 06:42 PM   #8 
  - Which can be ANYBODY thanks to this "new economy" of middle class jobs vanishing,  Deja Q   Sep-19-09 07:09 PM   #13 
  - I saw a job ad the other day that wanted inside sales (telemarketing)  Ruby the Liberal   Sep-19-09 07:15 PM   #15 
  - I see those too.  juno jones   Sep-20-09 12:20 AM   #44 
  - Good point. n/t  Grateful for Hope   Sep-19-09 10:57 PM   #36 
  - Actually the right usually attacks the poor.  superconnected   Sep-20-09 03:58 PM   #61 
  - Just better at arithmetic  pscot   Sep-19-09 06:59 PM   #9 
  - They're idiots too.  flvegan   Sep-19-09 07:07 PM   #10 
  - Apples and Oranges  ArcticFox   Sep-19-09 10:46 PM   #35 
     - Not in some states, thank you.  flvegan   Sep-19-09 11:12 PM   #39 
        - Depends on the market.  Xithras   Sep-20-09 02:45 AM   #47 
        - No  Robb   Sep-20-09 08:47 AM   #53 
  - Looks like the Ken Lay chick started a trend:  Deja Q   Sep-19-09 07:07 PM   #11 
  - It would be informative to correlate those results with  Trillo   Sep-19-09 07:12 PM   #14 
  - You mean there was a housing bubble? Wow, what breaking news.  Dreamer Tatum   Sep-19-09 07:36 PM   #16 
  - Very disappointed in DU responses to this.  Robb   Sep-19-09 07:47 PM   #18 
  - This is big out in Cali  Alcibiades   Sep-19-09 08:02 PM   #19 
  - People who "strategically default" haven't necessarily been living beyond their means.  pnwmom   Sep-19-09 08:54 PM   #23 
  - I don't think it's as simple as that.  morillon   Sep-19-09 11:08 PM   #38 
  - "Simply choose not to" is where you run into trouble.  Robb   Sep-20-09 08:39 AM   #52 
  - A deal is a deal; it's morally wrong  PurityOfEssence   Sep-21-09 06:40 PM   #71 
     - Interesting.  Robb   Sep-21-09 08:43 PM   #75 
     - Because that wasn't the deal  PurityOfEssence   Sep-21-09 11:50 PM   #79 
        - That was exactly the deal.  Robb   Sep-22-09 07:40 AM   #81 
     - Moral integrity is a two-way street, and corporations make fetish out of their lack of it.  bemildred   Sep-21-09 09:11 PM   #78 
     - We have met the enemy, and he is us  PurityOfEssence   Sep-22-09 12:00 AM   #80 
        - There is no "personal obligation" here, and banks never feel any "personal obligation" either.  bemildred   Sep-22-09 08:34 AM   #82 
     - Morality and the law are not the same thing.  The Stranger   Sep-22-09 10:00 AM   #87 
     - +1 n/t  Scout   Sep-22-09 11:43 AM   #88 
  - Plus it really was the banks resposnibility to figure this out  truedelphi   Sep-19-09 09:03 PM   #26 
  - I won't defend the practice, but as some wrote upthread, it's a "business decision"  Gormy Cuss   Sep-20-09 02:01 PM   #57 
  - It's called cutting your losses.  tinrobot   Sep-19-09 08:26 PM   #20 
  - What about the people who walk away when the market goes down -- even  pnwmom   Sep-19-09 08:56 PM   #24 
  - There is no difference.  tinrobot   Sep-20-09 06:06 PM   #64 
  - I am in that place right now  laughingliberal   Sep-19-09 09:19 PM   #28 
  - Exactly. But I put the blame where it belongs. The banks  Fire1   Sep-19-09 10:07 PM   #31 
  - Speculators by any other name.  chill_wind   Sep-19-09 08:34 PM   #21 
  - Alot of times its better to have money and bad credit, than no money and good credit  Jack_DeLeon   Sep-19-09 09:07 PM   #27 
  - I'd RATHER have money and bed credit. If I had the money I  virgogal   Sep-19-09 11:15 PM   #40 
  - In almost all states EXCEPT CA the bank can go after the  kelly1mm   Sep-19-09 09:36 PM   #29 
  - But that liability is discharge in Chapter 7 Bankruptcy  happyslug   Sep-19-09 10:11 PM   #32 
     - Correct - that's why lenders have not gone after mortgagees for  kelly1mm   Sep-19-09 11:02 PM   #37 
        - a**hole son.. I hope he's renting a nice place for his mom  Liberal_in_LA   Sep-20-09 12:22 AM   #45 
        - If the house was paid off,  shimmergal   Sep-20-09 01:24 PM   #56 
        - 3 houses - "Moms", his 400k house, his 265k house. Sorry I  kelly1mm   Sep-20-09 02:22 PM   #58 
           - What is the deal with jewelry and art under these circumstances?  PassingFair   Sep-22-09 08:53 AM   #84 
        - The real question is the raw sewage debt investment industry  Sen. Walter Sobchak   Sep-20-09 05:46 PM   #63 
           - Hard to go after debtors for default loans...  JayNYOne   Sep-24-09 08:42 AM   #89 
  - Bankster/Gangsters write the rules.. and our servants in Congress rubber stamp them..  lib2DaBone   Sep-19-09 10:04 PM   #30 
  - Since the federal minimum wage is $7.25 per hour as of 7/24/09  kelly1mm   Sep-19-09 11:35 PM   #41 
     - Not for many fields still, including farm labor and waitress.  superconnected   Sep-20-09 04:07 PM   #62 
     - You are correct as to farm labor and server positions. However  kelly1mm   Sep-21-09 02:46 PM   #70 
     - You are correct as to farm labor and server positions. However  kelly1mm   Sep-21-09 02:53 AM   #69 
  - We are rapidly descending  appamado amata padam   Sep-19-09 10:25 PM   #34 
  - something is afoot  shellgame26   Sep-19-09 11:42 PM   #42 
  - Yeah, just like they strategically got laid off as well.  Javaman   Sep-19-09 11:48 PM   #43 
  - This was me  electricray   Sep-20-09 02:43 AM   #46 
  - great story  Liberal_in_LA   Sep-20-09 03:01 AM   #48 
  - Yep, staying in an overpriced home is not a winning financial strategy.  glowing   Sep-20-09 08:26 AM   #50 
  - The banks "strategically" fuck homeowners ate every opportunity  alcibiades_mystery   Sep-20-09 08:37 AM   #51 
  - Yes, banks do not hesitate to sell loans, accelerate payments, change  mbperrin   Sep-20-09 08:56 AM   #54 
  - "Buy And Bail" was becoming a trend as well  Rage for Order   Sep-20-09 10:15 AM   #55 
  - heard for 'buy and bail', didn't know lenders had changed guidlines to combat  Liberal_in_LA   Sep-20-09 03:43 PM   #60 
  - Good new guideline. There's a big difference between  chill_wind   Sep-20-09 11:53 PM   #66 
  - if people know they will go under, they will not pour good money after bad  dugaresa   Sep-20-09 08:11 PM   #65 
  - Except that it isn't the banks who pay and suffer for the deadbeats  chill_wind   Sep-21-09 12:51 AM   #67 
     - It is Congress that is fucking us.  bemildred   Sep-21-09 06:42 PM   #72 
     - The sound decision was to not buy a house during the top of the market  high density   Sep-22-09 08:41 AM   #83 
        - The two things are not mutually exclusive.  bemildred   Sep-22-09 09:41 AM   #86 
     - Blame Obama and congress..  sendero   Sep-21-09 08:51 PM   #77 
  - This means they are smart enough to look out for themselves  Generator   Sep-21-09 08:36 PM   #74 
  - I wonder if this isn't a meme to paint people in foreclosure as somehow 'cheating'?  Matariki   Sep-24-09 11:27 AM   #90 
 

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