[Serena123]

You obviously have not lost your job !

I have friends who made in excess of $150,00yr -- who have lived on their savings for three years, and still are unemployed- and very close to being homeless.

Aren't you lucky you have not fallen upon hard times like a lot of middle class, responsible adults. Don't be too quick to point fingers...

[airics]

Originally Posted by Serena123

You obviously have not lost your job !

I have friends who made in excess of $150,00yr -- who have lived on their savings for three years, and still are unemployed- and very close to being homeless.

Aren't you lucky you have not fallen upon hard times like a lot of middle class, responsible adults. Don't be too quick to point fingers...

if you are referring to my post, you don't have a clue what i am talking about regarding this guy.. check the other posts before posting..
if you are not referring to me, my apologies.

[Kaiminani]

Originally Posted by MR77

But to just stop paying when you still have money coming in is totally irresponsible.

No it is not. It's called "seeing the writing on the wall" - if he's going to end up homeless, far better to end up homeless with some money in the bank than to end up homeless and completely broke. If the situation changes for the better in the meantime, he can start making payments again and catch up on what he missed. But, if it does not get better, then he's still got options that he would not have if he had the foresight to prepare for the worst.

[airics]

Here's another thought... he stops paying and trashes his credit. I have been applying for alot of jobs and 90% of them have an addendum to the application allowing them to pull your credit. They are looking at your scores to see if you are responsible.

Just a thought...

[Kaiminani]

Everything is a trade-off. The trick is for each person to find the optimal one for their situation.

[barocko7]

Originally Posted by Kaiminani

No it is not. It's called "seeing the writing on the wall" - if he's going to end up homeless, far better to end up homeless with some money in the bank than to end up homeless and completely broke.

Your wrong! Intentionally not paying back your self-made obligation to the lendor, is downright theft and thus a criminal act. He should work together with the lendor to find a solution feasable for both.

[olecapt]

Folks the underlying question here has been beaten to death on CD and thousands of other places.

There are two schools of thought...

A mortgage is a personal committment to pay it back and can be escaped only by a total inablitity to do so.

Or

A mortgage is a business contract subject to the terms and conditions of the contract and the state and federal laws involved.

The decision as to which view is a personal one, is highly situational and is not sharable. You don't get to vote on the other guys view.

The present OP is a contract believer. It is actually wrong to attack him because it violates your beliefs - that is not his problem. Keep your views to the practical. And no it is not a fact that he will be punished for his views.

Let's not involve that which is not relevant.

[Kaiminani]

Originally Posted by barocko7

Your wrong! Intentionally not paying back your self-made obligation to the lendor, is downright theft and thus a criminal act.

What the law defines as "criminal" is not automatically "irresponsible" (or immoral which I suspect is what you really meant). The law is nothing more than what some group of well connected and self-interested people were able to convince another group of well-connected and self-interested people to agree to.

He should work together with the lendor to find a solution feasable for both.

How do you know he has not already tried? The news and the nets are full of stories about where such a solution was unfindable.

[LVRockstar]

i hear some Banks are paying people to move out... Cus they don't want the house to be a Pigs Nest or messed up..

Just my 2 cents

[mrsidd]

Hell, i wish i had a house