[MadManofBethesda]

Originally Posted by airics

if you foreclose, you can get a 1099 which is income and you have to pay tax on and bankruptcy doesnt forgive a tax lien.. they also have 6 months to come after you..

Originally Posted by seven of nine

Hello guys,
Agree with all the 1099 talk, something most are not told about until they think they are walking off free, the tax man cometh!

Actually, guys, that hasn't been true for primary residences since 2007. Congress passed the Mortgage Forgiveness Act in 2007 just for this specific reason. It is in effect until 2012. (of course, that doesn't help people with vacation homes or investment properties, but then again, it shouldn't.

The Mortgage Forgiveness Debt Relief Act and Debt Cancellation

[KD Hawaii]

Originally Posted by zendrive

Walking away from your responsibilities is not illegal. It's just wrong.

It is NOT wrong to walk away. If the house is worth $60K, you owe the bank over $200,000. The bank is stealing your $$ and you're suffering. Again it is not morally wrong at all to walk away. Why throw away $140,000? The Bank should forgive or wipe out $140K. Yes The bank loses $$ but that's their problem.

[dynimagelv]

man up and accept responsibility for making a bad investment.
OR....the next time you buy one and the price goes UP....give the extra money to the bank....

[KD Hawaii]

Originally Posted by dynimagelv

man up and accept responsibility for making a bad investment.
OR....the next time you buy one and the price goes UP....give the extra money to the bank....

You just don't understand, PERIOD.

[dynimagelv]

I understand...you made a bad investment and you want the rest of us to help pay for it....sounds pretty simple to me....

[mojavedxer]

Originally Posted by Buzz123

I wouldn't say the deals are fake, but to get on the show has to be by invitation only. You couldn't just walk in with a suit or armor and expect them to put you right on camera. Doesn't work that way. Has to be planned. They are good negotiators, but that's another thing that's been prearranged to make it interesting to viewers. When Rick or the Old Man get started they always remind me of the first rule of negotiation..."He who names his price first, loses."

The reason I don't like other reality shows is they seem to promote bad behavior. And knowing pretty much a lot of what's going on behind the camera, I just can't accept it as anything real. Besides, who the he** cares about watching a bunch of sluts, or some ugly people with too many kids, that you never heard of anyway, getting rich by being a**holes, and pretending to be on candid camera? But Pawn Stars isn't like that really. It's just fun. I've said it before: It's Antiques Roadshow meets Orange County Choppers. Interesting stuff shows up and you love seeing something old turn out to be worth a fortune; but at the same time the "family" is funny, and just dysfunctional enough to be like people you probably know.

The last time I was in the store, they had a sign giving a date for prescreening items if you where interested in being on the show.

[bledsoe3]

Originally Posted by KD Hawaii

You just don't understand, PERIOD.

Can I borrow $100K to put on black. If I win, I'll split the proceeds with you. If I lose, I'm not paying you back. That's "YOUR" problem.

[MediocreButArrogant]

Originally Posted by KD Hawaii

You just don't understand, PERIOD.

I understand completely. Dishonest people can always find a way to justify their actions.

[Mt-7]

Originally Posted by las vegas drunk

I made $20,000 last year, and I paid a total of $3,000 between Social Security, Medicare tax, and federal tax.

Good call, I was just guessing on the Fed tax, should have stated that.

[tijlover]

Originally Posted by dynimagelv

man up and accept responsibility for making a bad investment.
OR....the next time you buy one and the price goes UP....give the extra money to the bank....

Man up? They allow sexist comments like this on this Forum?