Reply #18: Very disappointed in DU responses to this.

[Robb]

Many seem to assume these are all people living beyond their means, somehow undeserving of whatever they're scraping off the belly of the beast here.

Not so. Why assume it?

And why so many here are siding with the banks, through some misplaced loyalty (which reminds me of the poor who vote GOP), is beyond me.

It's a very simple equation. The banks loan you money. You put your house up for collateral. If you stop paying, the bank can come get the house.

Both sides are responsible for the contract they sign. The bank, just like the debtor, was assuming real estate would always increase in value. It didn't.

If the banks have to take a few lumps, so be it.