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