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Don't know about this site but walking away is the best thing that can happen. The home prices will settle down and all these CMOs and other "funny mortgages" will dry up. The hedge funds and big banks are going to be bailed out any way. Just Walk. Staying is STUPID. The deal was - I pay the mortgage - I keep the house. I stop paying - it's yours Mr. Investor. That's written in the terms.
That's what you get for loaning 100% of the home value. Unbelievable that someone that is a sophisticated banker would do that - but they did. Now is the little guy's revenge. Adios.
Don't know about this site but walking away is the best thing that can happen. The home prices will settle down and all these CMOs and other "funny mortgages" will dry up. The hedge funds and big banks are going to be bailed out any way. Just Walk. Staying is STUPID. The deal was - I pay the mortgage - I keep the house. I stop paying - it's yours Mr. Investor. That's written in the terms.
That's what you get for loaning 100% of the home value. Unbelievable that someone that is a sophisticated banker would do that - but they did. Now is the little guy's revenge. Adios.
They are called investment bankers because they are investing other peoples money. Let's see pension funds, Individual investors, mutual funds, other banks. So when you are doing your in your face walk away consider your neighbors, parents, retired folks, yourself and your federal government cost when they come to the rescue. Oh yeah and your state and local cost when they have to pick up the pieces (taxes) etc. You are not walking away completely only showing why no one should ever again lend you the time of day.
..........You are not walking away completely only showing why no one should ever again lend you the time of day.
But you see....they will because ultimately ....... they're greedy.
And you know it and I know it.
This economy is going in the tank
BTW - My 403B is invested with TIAA-CREF. They are conservative investors and they didn't invest one dollar in this ponzi scheme. Their motto is .... If you can't explain it to a layman in five minutes ...Don't invest in it.
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Hmmmm
