mark500
Recycles dryer sheets
- Joined
- Feb 26, 2006
- Messages
- 146
It may not be politically correct, but I do not feel that taxpayers should bail out these home buyers who have a mortgage loan that is more than the market value of their home. Or the ones who moved into home they could not afford with an ARM and now can not make the payments. They are adults who took the risk or made an unwise financial decision and should pay the consequences. Some were flipping properties. So what if they have to move out of their home? What's wrong with renting?...I rented for many years. Besides, they could just walk away, let the bank foreclose, and gut their credit record. Then when they need a future loan they just say they were "caught up" in the 2008 mortage mess, like millions of others.
FYI, I owned home in an oil state back in 1984-1988. I bought right before the oil crash and home values nose-dived, mine included. I had to sell my house for a loss. I took over $10,000 to closing to "sell" my home. The idea of walking away and letting the bank foreclose never entered my mind.
FYI, I owned home in an oil state back in 1984-1988. I bought right before the oil crash and home values nose-dived, mine included. I had to sell my house for a loss. I took over $10,000 to closing to "sell" my home. The idea of walking away and letting the bank foreclose never entered my mind.