Economics 101: supply and demand. there would be no more 29.99% interest rates, or credit bureaus, etc., etc. All the people bashing OP for his decision are full of crap: it's not anybody's place to judge him. don't agree with him? so don't do the same thing. that said, I'm sure all of you have some secret that we could all criticize you for. apart from the whole ethics side of things, think a second about the manipulation of the whole banking/financial system. the poster who wrote that the whole thing is set up to enslave people got it right. people are brainwashed into thinking they need a good credit score "or else", that it's important to buy things, and always pay back debt. "Fiscal responsibility" is a fairy tale created by the banks to enslave people to debt, ridiculous banking fees, and usurious interest rates.in the mean time, BP destroyed the gulf coast, large financial companies like GS are stealing from US citizens with government compicity, and the pork barrel US government is mismanaging trillion dollar debt. all with the help of the SEC, FED, and Treasury, and YOUR tax dollars are subsidizing it. and you're angry at this guy for walking on $12k of debt? REALITY CHECK!
neither clever nor accurate. those who are judging him are attacking him personally. who exactly did I attack personally ? that's right, nobody. so take your head out of your ass while I attack you personally. dipshit.
You collectively attacked (we're all 'full of crap') and therefore I used 'us' instead of 'me'. You also butted your nose in to throw in your opinion which was not asked for and now you throw a tantrum when someone disagrees with you. Need a tissue?
Then maybe those poor "victims" who were forced by the evil banks to buy houses they couldn't afford should be deemed incompetent and not allowed to sign contracts or make adult decisions in the future. How about that?
"Justifying" irresponsibility, deadbeats and freeloading with other bad behavior is infantile and nothing more than crying "me, me, me!"
if they "couldn't afford" the homes the incompetent ones would be the banks that loaned them the money......and you are 100% correct if you can't afford it the banks should not have let them sign.
Borrowers bear no responsibility? Nonsense. But I will say that after this mess, the sheeple need to be treated like irresponsible, greedy children (bad behavior of all the other players aside).
If you don't understand the terms of your ARM or what an ARM is then don't fucking sign on the dotted line!