Quote:
Originally Posted by nybbler
That's a practical issue, not a moral one. By the current rules, if the loan is a recourse loan and the bank forgives it, you have to pay taxes on the deficiency (the debt forgiveness rules have expired I believe). So this is already the case.
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As long as the defaulted doesn't cry how the bank "screwed" him or some other whinny bs about his it's unfair they can't buy a house or nobody wants to give them credit well default away. But most people blame the banks, CC company, politicians, the famous or infamous "they", upbringing , the spouse etc. Well basically anyone but themselves
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