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i don't care about credit ratings. i was forced into bankruptcy around 20 years ago. i haven't had a penny of debt since then, period, nor do i want to have any, i'm just tired if paying for someone else's free ride
Consciously contributing to the things one despises speaks loudly of ones character.
I understood it the first time, English being my native language and all.
There may be incentives all around to lie, cheat, and steal. That's not ever going to make any of those things ethical.
Furthermore, people who were already in a house going into foreclosure due to their changing economic situation didn't buy the place PLANNING to live there for free.
So, in your imaginary scenario, if you or anyone else was living mortgage free for however long the bank would allow due t
I think the guy is saying his post is satire, not serious.
Wrong. No "just about everyone" isn't in foreclosure. Check your statistics.
When this mess is over, somewhere between 10 and 15% of the US population will have "strategically defaulted" on their mortgage. That 10 to 15% can move back into mom and dad's basement where they belong.
You have to let stupid people fail or you will have an entire country of stupid people.
HOUSE PRICES ARE STILL WAY TOO EXPENSIVE IN AMERICA AND THE GOVT IS DOING EVERYTHING THAT IT CAN TO KEEP IT THAT WAY!
We bought a home in December. Prices are great. Maybe they will come down further. I would love that. Maybe I will buy another. I plan on buying one or two in the Phoenix area. Interest rates were even better. I hear that they have gone up some. Our 30 year fixed is 3.8%. For us it was just cheaper to buy then rent. I could rent my home today for about $500 more than I am paying in PITI. Not sure what the Government is doing to keep prices up. maybe you can enlighten me. Our home sold in 2005 for $580,000. The neighborhood topped out around $700,000. We bought in December of 2010 for $310,000. Can't say as that is too expensive. Seems rock bottom to me.
i don't care about credit ratings. i was forced into bankruptcy around 20 years ago. i haven't had a penny of debt since then, period, nor do i want to have any, i'm just tired if paying for someone else's free ride
How were you forced into bankrupsi? Did someone hold a gun up to your head and tell you to get into debt?
How were you forced into bankrupsi? Did someone hold a gun up to your head and tell you to get into debt?
Actually, I would consider some medical situations as, for all intents and purposes, forcing someone into bankruptcy. Even with insurance, sometimes the bills are so much that you will never catch up, and the only logical choice is bankruptcy after the medical bills stop coming in.
i was forced into bankruptcy around 20 years ago. i haven't had a penny of debt since then, period, nor do i want to have any, i'm just tired if paying for someone else's free ride
Isn't filing for bankruptcy the exact same thing? You went into debt and couldn't repay, so you walked. How is that any different?
The people that I have known that went through the foreclosure process did not consider it a free ride but more of a failure, embarrassment, fear topped with utter depression.
Since it appears you have never owned a home, I guess you wouldn't understand. Did you know that JP Morgan dumped million dollar properties on purpose last year? They were a bad investment. Something large businesses have done for years.
But lets keep beating up each other, the politicians and corporations love it.
Actually, I would consider some medical situations as, for all intents and purposes, forcing someone into bankruptcy. Even with insurance, sometimes the bills are so much that you will never catch up, and the only logical choice is bankruptcy after the medical bills stop coming in.
Still that is a choice that you alone need to make. No one forces anyone into bankrupsi. You choose to do that. Still I am not saying that is a wrong or right choice, just a choice. You may not have a choice in your health. Sorry to hear how things have turned out for you. Still no one has taken your ability to choose away.
the longer i look into the real estate market the more i think that doing this is the only sensible thing to do. i might even buy more than one, rent the others out and collect rental and live for free for the next 3,4,5,6,7 years. my budding took refi'd 5 years ago, pulled $500k of equity out, hasn't made a payment in 4 years and lives rent free.
all this time, i'm being raped by my landlord because the banks are sitting on so much vacant inventory which they refuse to rent or sell. i should stop being such a chump and start doing what it seems everyone in florida is doing
Foreclosure.
Bad credit.
Higher cost of credit cards.
Higher cost of auto loans.
Some landlords wont rent to you.
Forget getting a good rate on a mortgage ever again.
Most employers wont hire you.
sounds like a good plan.
I am assuming you are not serious.
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