new real estate trend (buy and bail) (student loan, judgment, credit card)

[TexianPatriot]

Video - FOXBusiness.com

Is this screwed up or what?

[Shuffler]

Yes. Heard about the loophole yesterday.

This really, really pisses me off. This kind of thing will be short-lived...I think in general people are fed up with all this bad behavior driven by greed and stupidity.

[TexianPatriot]

I'm literally watching America die. It's depressing, but I suppose there wasn't much we could have done to change the outcome. It's really out of our hands at this point. Just take care of your family and develop faith based alliances with good people. We are in for some major hard times ahead.

[Shuffler]

Originally Posted by TexianPatriot

I'm literally watching America die. It's depressing, but I suppose there wasn't much we could have done to change the outcome. It's really out of our hands at this point. Just take care of your family and develop faith based alliances with good people. We are in for some major hard times ahead.

No kidding. "Love thy neighbor" and "Less is more" could be (should be?) the new mantra to live by....unless your neighbor is one of the many 'me too' fools saddled with debt for nothing more than the sake of projecting some false image of success and 'coolness'....while it's not a crime, it sure is stupid behavior, encouraged by the constant availability of cheap energy and 'free money' in the form of ARMs and no-interest loans.

Maybe we'll finally see stupid TV shows like "Flip that House" and other such nonsensical real estate scam shows die a slow death.

[baystater]

Originally Posted by TexianPatriot

I'm literally watching America die. It's depressing, but I suppose there wasn't much we could have done to change the outcome. It's really out of our hands at this point. Just take care of your family and develop faith based alliances with good people. We are in for some major hard times ahead.

Look TexP America ain't going to die. In fact I expect really good thing to happen after this down turn. Will America be different? Yeah. But I think it will be for the better. At least from my standpoint. Look we survived the great depression we can survive this. Our economy is resilient and dynamic. so even if we get knocked on our back we will pick ourselves up again. It's kind of the movies Rocky I and II. We going to get our a$$ kicked for a while, get knocked down, almost knocked out. But some how we will have the strength to pick ourselves up off the canvas and continue on. We always done this and will continue to do so. Though we my have some scars to show for it.

[Philip T]

dunno.

I think this is GREAT.

Truly a case of lie to liars and steal from thieves. Restores my faith in the Sheeple of America.

The bank and loan brokers thought they were going to take these folks with ARMs and other crooked loans and instead the banks are going to get rammed right back up the banks' Back Door.

And these folks are going to wind up with a good home at a good price and an honest loan at the end. Outstanding!

Great Day to Be in America!!!


[did you see the corporate ho's of FAUX whining about it! Just icing on the cake. ]

[Wild Style]

Originally Posted by TexianPatriot

I'm literally watching America die. It's depressing, but I suppose there wasn't much we could have done to change the outcome. It's really out of our hands at this point. Just take care of your family and develop faith based alliances with good people. We are in for some major hard times ahead.

Don't jump on me for this but I disagree. I think we could have done a LOT.

Go check posts by bale, philip, Greg, CJFlorida (M.I.A). People knew about ALL of this as far back as the mid 90s. This was all started from the F.I.R.E. economy. We also transitioned into a debtor nation where GDP growth is based on consumer spending, consumer spending is spurred via debt (home equity loans, credit card debt, student loans etc.). We could have easily educated ourselves and not bought into the system. Voted out people who made this crap possible. Instead people were more concerned with getting money. Look at mass transit in say S. Florida. It SUCKS, and no one cared because it was poorer people who were taking mass transit. But now that its affecting everyone, now people want to cry about it. Here in South Florida they tried to pass a penny tax. The people voted it down because gas prices were low back then. Had people educated themselves they would have understood the concept of peak oil. They would have known this was going to happen. I knew what was coming back in 2003, but again that was from researching and reading, reading, reading.

But I guess research and educating ones self takes way to much time. People rather spew non facts and form opinions around them. You gotta watch the movie idiocracy, it pretty much nails it.

[Shuffler]

"Ow...my Balls!!" :-)

[BLAZER PROPHET]

The lender for the original house will simply get a judgment against the buyer and attach a lien, with interest, to their new house. In the end, the banks will get their money.

[TexianPatriot]

Originally Posted by Philip T

dunno.

I think this is GREAT.

Truly a case of lie to liars and steal from thieves. Restores my faith in the Sheeple of America.

The bank and loan brokers thought they were going to take these folks with ARMs and other crooked loans and instead the banks are going to get rammed right back up the banks' Back Door.

And these folks are going to wind up with a good home at a good price and an honest loan at the end. Outstanding!

Great Day to Be in America!!!


[did you see the corporate ho's of FAUX whining about it! Just icing on the cake. ]

You don't see the moral hazard in all of this. You don't see the lack of personal responsibility of borrowers? None of these banks forced people to sign the dotted line for an over inflated home. And you do realize that it was our government that in some cases forced lenders to make loans to people that shouldn't have been getting the loans to begin with. If you wanna go on with your corporation bashing, at least bash the correct one. The federal reserve is the only corporation that is fully backed via federal government coercion.