"Occupiers" push Nov. 1 for U.S. to stop paying mortgages en masse.

Discussion in 'Economics' started by wilburbear, Oct 24, 2011.

  1. if you haven't seen this short 60 minutes episode yet, you will sure get a kick out of it, another related one is about a mass of homes that they cant find out who even owns the mortgage, well worth the watch !

    #31     Oct 24, 2011
  2. #32     Oct 24, 2011
  3. Lucrum



    I'm going to continue paying my mortgage. Something about signing a contract makes me feel obligated to do what I promised to do. Call me old fashioned.
    #33     Oct 25, 2011
  4. Homeowners who don't pay their mortgage ought to be kicked out or straight to jail , whatever happened to personal responsibility in today's world ? Idiot homeowners who bought between 2004 and 2007 are a big part of our problems . Subprimes and ninja loans were great actually for people who needed them ( those with no credit history like immigrants, day laborers etc) , but idiots got way over their head and did not understand they were buying into a bubble. So now if you want to buy a house and have a patchy employment history or credit history forget it. And the govt wants to bail out all the idiots.
    #34     Oct 25, 2011
  5. sprstpd


    How about the responsibility of banks to be liable for their own idiotic mistakes? Everything goes out the window when you bail corporations out. The government has shown the game is rigged so the fact that individuals want to level the playing field is fine by me. The fact that Bank of America is still doing business is an insult to capitalism and should be an insult to every American.
    #35     Oct 25, 2011
  6. shfly



    which bastards are you talking about? ;)
    #36     Oct 25, 2011
  7. Perhaps all purchases should be cash. The world would be simplified if there were no such things as home loans, car loans, credit cards, and student loans. It would bring prices down for everything.
    #37     Oct 25, 2011
  8. GordonTheGekko

    GordonTheGekko Guest


    Baffles me who think this isn't true.
    #38     Oct 25, 2011
  9. My house is paid for. I paid it off early.

    No mortgage.
    #39     Oct 25, 2011
  10. Trump has strategically defualted a few times and no one seems to call him a criminal.

    So I cant shed too much of a tear on this subject. Someone played the game, they took a bath and they are walking away.

    Buisness do it all the time.
    #40     Oct 25, 2011