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Old 07-23-2008, 07:49 PM
 
25,351 posts, read 37,523,921 times
Reputation: 13271

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San Diego sues Bank of America to halt foreclosures: Reuters Business News - MSN Money (http://news.moneycentral.msn.com/ticker/article.aspx?feed=OBR&date=20080723&id=8930608 - broken link)

What will be done for the people who are paying as they have signed for and aren't defaulting...will they get a break somewhere or is that called" not fair"
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Old 07-23-2008, 09:01 PM
 
11 posts, read 239,294 times
Reputation: 24
Seriously? Makes me mad that I was one of the ones that "followed the rules". Why should the ones that chose to buy way more than they can afford be "rescued" while all of us who did the right thing be stuck in our smaller, cheaper, need more work, not the best neighbordhood, house?

People are stupid...they will be rescued then just find another way to go and mess it up again and yet find more ways to spend more money they don't have, geesh...

...ok, Ill get off my soapbox now *stepping down*
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Old 07-24-2008, 10:05 PM
 
48,519 posts, read 81,098,930 times
Reputation: 17978
You can file suit on anybody and anytime you like. Doesn't really mean much.In fact i would bet if they win this will be in court for years on appeal. In the end it will mean nothing;most likely a political move on the city attorneys part.By the time the tax payers pay the bill he will be out of office long before.
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Old 07-25-2008, 07:39 AM
 
4,546 posts, read 11,557,169 times
Reputation: 3068
Quote:
Originally Posted by bentlebee View Post
San Diego sues Bank of America to halt foreclosures: Reuters Business News - MSN Money (http://news.moneycentral.msn.com/ticker/article.aspx?feed=OBR&date=20080723&id=8930608 - broken link)

What will be done for the people who are paying as they have signed for and aren't defaulting...will they get a break somewhere or is that called" not fair"
What do they have, some uber liberal clowns running the show out there??

The city does not want to allow lenders to exercise their legal rights?? While maybe the report left it out, there is no mention that this would be a temporary thing. No end date is listed

Hey Mike, how about the secondary mortgage market just completely cuts San Diego out of any lending?? Is that what you would prefer. You could have the city issue bonds and use the funds to issue your own dam mortgages. Why would any lender want to lend in an area where they have no recourse in the case of defualt??

"We would like to see San Diego become a foreclosure sanctuary," Aguirre said. What an idoit.

Last edited by TimtheGuy; 07-25-2008 at 07:54 AM..
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Old 07-25-2008, 09:36 AM
 
Location: Richardson, TX
10,170 posts, read 16,743,649 times
Reputation: 24774
Mike Aguirre really really likes attention and grandstanding.

He never misses a chance to appear on the news and speak "for" the city, even when the issue in question has nothing to do with the city attorney's actual job.

I would be really surprised if he wins his reelection in November.
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Old 07-25-2008, 11:37 AM
 
Location: Charleston, SC
5,615 posts, read 12,432,957 times
Reputation: 2525
Yeah, that's stupid beyond words. I'm sure the taxpayers will appreciate the idiot in charge wasting their revenue with such a stupid lawsuit. What are the odds the city gets to pay the lawyers on the other side after the case gets thrown out?

Actually I'd be kind of curious to see what their housing market looks like if lenders pulled out because they had no recourse.
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