Biggest Defaulters on Mortgages Are the Rich

  • Thread starter Thread starter adrunkgerbil
  • Start date Start date
http://www.nytimes.com/2010/07/09/business/economy/09rich.html?_r=1&src=mv


Fucking corporate welfare queens and their Cadillacs.
 
because you are living in the place. Your physical home isn't an investment, now if you were specifically trying to flip it, maybe. Or if you bought it for renting, etc..

But you agree to live in that place for xx a month for 30 years. So why are you bitching about the price now ? the home's possible selling value doesn't affect you until you actuall want to sell it.
 
lrabroad
of shit could happen in 30 years. if i bought a place intending to live in it, then grabroad
a better job offer in a different city and couldn't afford to keep it and it wasn't selling fast enough, it really wouldn't weigh heavy on my conscience to default.
 
what is "rich"?

$200K
$125K?
$75K
$50K

all 4 of those have been used before to describe "rich" in the last 2-3 years.
 
The federal government encouraged banks to offer loans and credit in -all- communities, and mandated evaluations for FDIC insured banks to determine their offerings in low income communities.

It was an attempt from the government to force banks into offering credit for all levels of communities where they might nrabroad
have done so before.

Fannie and Freddie were forced to make these loans.



I pulled that from wikipedia -- he was right, wasn't he?
 
That's why I said "if you are moving within 5 years". It's the people who have no solid intentions of moving in the next few years, and are just dropping the mortgages that are the issue.
 
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