[Jay_Gatsby]

Quote:

Originally Posted by Texas Proud I am sure Jay can speak for himself... but I did not see where he said they should go to debtor's prison... He said if you make bad decision you should pay... "I'm a firm believer in fiscal responsibility and sound decision-making. If you fail to exercise either, then the repercussions are your own." Not once mentioning prison, or whipping them with a cane or a whip .... just that someone who does some things wrong financially should pay a price.. and they did..

I can, but many thanks for the support. Part of the issue is that some folks see that people who have lost their homes due to poor financial decisions have suffered enough. Although I sympathize with anyone who has lost the roof over their head (especially where children are involved), no one seems to have focused on the fact that the mortgage holder (lender) is still out the money that was borrowed. Many of us want to consider such lenders to be nameless, faceless, greedy corporations, but where do you think such corporations get their money to make loans?

Ultimately from you and me.

We will end up paying for the folly of people who shouldn't have bought homes in the first place, took out home equity loans to pay for depreciating assets such as cars, vacations, big screen TVs, etc..., or financed the purchase of supposedly profitable businesses. A home is not a piggy bank. If you treat it like one, you run the risk of being in the precarious position that so many defaulting homeowners find themselves today.