It is harder to lose it to foreclosure

Auto 101 Doug March 20, 2013 IF you pay off your house, it is harder to lose it to foreclosure. A 15-year mortgage is better than a 30-40 year one. Did you know they are making 50-year mortgages? and yes I would agree with you. there is a time to walk away one of them is if you cant a for it. You should not walk away if you can still make payments and your walking away if your just under water. 3 Reply

PeaJaneRun repealobamacare March 20, 2013 My first inclination is to say the same. But as somebody whose home is worth about 45% of what I paid for it and who has done the right thing from day 1 (despite buying at the height of the market), I`m actually glad these individuals are buying. The more homes that are bought, the fewer that are on the market, and the more my home price recovers. That`s a win! 4 Reply

nick repealobamacare March 20, 2013 Because they want to pump up the housing market again and they need buyers. 4 Reply

Brian Mathies repealobamacare March 20, 2013 You`re feeding into the stereotype. You assume that everybody who doesn`t pay their bills are deadbeats. It`s closer to the opposite: most people who don`t pay their bills, can`t. I hope you learn this someday. 8 4 Reply

repealobamacare Brian Mathies March 20, 2013 Actually, you`re feeding into the stereotype that people that walked away from their financial obligations are all victims. Once again, the people that are sticking to it are punished and the deadbeats are rewarded. They should at least be responsible for the loss the bank took on the foreclosure sale of the home before they could take out another loan. I would bet that these people "boomeranged" into their new home with way less than 20% down and will walk again if something happens. This is what you get when people have no "skin in the game". . 23 1 Reply

rat13 repealobamacare March 20, 2013 Your point would make far more sense, if you had acknowledged the fact that it was the banks/finance industry who trashed the underwriting standards, all in the name of big bucks originating loans. They are the one who should know better in the long run. 5 2 Reply

John Canaday rat13 March 20, 2013 A lender AND a borrower are required in order to make any loan deal. If they signed it they owe it. If they want off the hook, they should declare bankruptcy. Yeah circumstances sometimes don`t work out. In those times the prudent have at least a plan B. Plan B shouldn`t be walk away, then buy another house in two years. 7 Reply

uspatriot25 John Canaday March 12, 2013 Logical arguement - love it! 2 Reply

Dan rat13 March 20, 2013 Ah yes. The ol` "Two wrongs make a right" defense. At what age does this become a valid argument? I mean, 4 year-olds never get away with using this argument. 10 year-olds don`t have any luck either. Can`t say as I remember it ever working in highschool for that matter. Do you have to become an "adult" before you can successfully use this defense? Dan 2 1 Reply

nononsense123 Dan March 20, 2013 Why don`t you just acknowledge that their lenders were creeps too? 0 Reply

Dan nononsense123 March 20, 2013 No doubt. That said, unless they were holding guns to heads, the individual should not hold the bank`s actions as an excuse for their actions (or in-actions.) Dan 4 Reply

nononsense123 Dan March 20, 2013 Do you see such excuses somewhere in this article? 0 Reply

NobodyKnows8 repealobamacare March 20, 2013 Most pay PMI, so the banks lose nothing, in fact they may make money off of the situation. Not everyone is a victim, but more are then you think. 2 1 Reply

Dan Brian Mathies March 20, 2013 Isn`t that pretty much the main definition of a "deadbeat"? Dan 8 Reply

Health1au Brian Mathies March 20, 2013 The ones I know sure never miss a cell phone payment and always seem to have cigarettes. 6 Reply

Darrel Crayon repealobamacare March 20, 2013 LOL,...sucker ....keep your morals to yourself..repealobama, I love it when a blowhard blows, then we look in their closet and see all the is a contract pure and simple, no one signed in blood, no one pledged their first born, a contract understand?? I too did the same and i am glad I stuck it to the banks...I am tired of always getting the short end of the stick.... I am sure you have led the pious life of Mother Theresa (google her rep lately) and deserve to throw all those stones that you have collected up in your pocket of a life constantly feeling an let live and don`t judge...or it could be your closet we look into next... 2 1 Reply

repealobamacare Darrel Crayon March 20, 2013 Nice to know that any contract you sign is not worth the paper it`s written on. How many wives have you had? You just walk away from commitments like that? People like you are the problem. Always taking the easy way out and sticking it to others. . 1 Reply

Darrel Crayon repealobamacare March 20, 2013 Repeal you are pretty ignorant of contract laws, I guess, much like other ignorant statements you make.. A contract is not a moral commitment, ok nut job?? and read my above post to David, who did I stick it to?? the tax payers? no Wells Fargo returned their forced bailout funds with interest so who got screwed?? the big banks?? tough Sh*t, get a life and stop complaining about something that a) didn`t affect you and b) you know very little about...I will stick it to the Big Banks as many times as I can.....enjoy your worship of the big banks and see where that gets you, you of all people should know it is in the Bank`s best interest to keep everyone in debt, then you are a slave to them THE BIG BANKS......screw em....that`s my mantra,,,,not screw taxpayers, just the damn big banks..... 0 1 Reply

repealobamacare Darrel Crayon March 20, 2013 Right fool - you and thousands like you that bailed on your mortgages had no effect on housing prices. You sticking it to Wells Fargo had no effect on anyone else like shoplifters have no effect on the prices everyone else pays. You go on thinking that you`re a victim, but in reality, you`re the perp. . 2 Reply

david hall Darrel Crayon March 20, 2013 You sir are part of the problem. You got a loan you couldn`t afford, stuck it to the banks and the tax payers and then have the gall to accuse others of throwing stones while belittling someone who did more good in one day than you will do for the rest of your life. My best advice to you? Keep your nose out of my closet. 1 Reply

Darrel Crayon david hall March 20, 2013 Actually David that is the issue, MYOB, each foreclosure may have a different story, many foreclosures were done illegally, mine as well, so when you keep you nose out of my business, I will do the same, tell me David how did my foreclosure affect you?? the tax payers didn`t pay a dime for my foreclosure with Wells Fargo, they apparently didn`t even need the forced bailout and paif their money back early, so tell me and all you other ill informed people, how did my foreclsore affect you? I know just won`t admit it and remember what I said, not one tax payer dime went for my bailout and many others......and how said that is the pinnacle of repealobamacare`s life, belittling r their David are whats wrong with this pix Repealobama has said it all with his moniker....we know he is a right wing nut and aspouses it you decide to pick and chose your mantra..... 1 Reply

nononsense123 repealobamacare March 20, 2013 What`s it got to do with you? 1 Reply

Joe Smith repealobamacare March 20, 2013 OK, if we assume that yes, they are "partially responsible for the collapse", and therefore deserve to be sent to debtor`s prison, or something similar, then what about the rest of those who are responsible, i.e.: the management of the big financial institutions, who carry at least as much, if not more of that responsibility? Don`t they deserve to lose their bonuses, and even their jobs, for their part in all of this? 1 Reply

John Canaday Joe Smith March 20, 2013 Yes. Both deserve poor circumstances. Too bad both Repubs and Dems are beholden to the moneyed interests. The question is whether someone who walks away or otherwise defaults should be rewarded with a new house in 2 to 3 years. What is the incentive to stay and pay what you signed up for? 0 Reply

Guest repealobamacare March 20, 2013 I find your response very rude. Are you not aware how many people are losing their homes? Do you really think people want to go through this? This economy sucks and is beating everyone up. Just look at the foreclosures and short sales and not to mention the bankruptcies. I hope one day that you don`t get sick where you can`t work or unable to find a job. There are good working ethic people out there with degrees up their ass and can`t even find a job. You should watch what you say, because maybe one day you will get sick or will be jobless. Than I am sure your tune will sing a different song. Loser!!!! 1 Reply

halothane repealobamacare March 20, 2013 Do us all a favor and stop eating the paint chips. 0 1 Reply

Scott L repealobamacare March 20, 2013 You really have no idea what created the collapse, do you? 0 1 Reply

jose44 repealobamacare March 20, 2013 Not all are dead beats! What is someone is ill and cannot work? 0 1 Reply

comoncents7 repealobamacare March 12, 2013 These deadbeats are getting mortgages because a bank considers the risk worth it based on the amount of fees and interest they will collect from the borrows as well as the collateral they will assume if the borrow happens to default. 0 Reply

James Sentry repealobamacare March 12, 2013 Get over it, and by the way, get back to work. 0 Reply

keepalow repealobamacare March 20, 2013 lol Hate much? 0 Reply

Oscar Zamora March 20, 2013 Boomerang or not, they should repay what they owed, period. 13 Reply

Darrel Crayon Oscar Zamora March 20, 2013 As soon as the banks pay everything back.....sure let me know when that happens... 3 1 Reply

uspatriot25 March 20, 2013 I am all for forgiveness of wrong doing, but it seems to be getting out of hand. As an individual who worked a job I did not like to pay my bills, this is hard to watch. A foreclosure or short sale should be on your record forever. You aren`t a minor any more - these are adult mistakes. It should be on record that you didn`t make the smartest choices. From there on out, it should be up to industry to decide if they want to lend to you anymore. 13 Reply

Brian Mathies uspatriot25 March 20, 2013 You`d probably change your tune if it happened to you, or someone you know and love. You keep talking about being an adult. Since when does being an adult imply that you are expected to be perfect and know everything? 3 Reply

Dan Brian Mathies March 20, 2013 This... This mindset. Makes me sad. Have we really gotten so far down that path as to believe that a person must be "perfect and know everything" just to guard against and accommodate a few setbacks in life? Dan 14 Reply

uspatriot25 Dan March 12, 2013 Set backs are a part of living. It`s the risk we take. I sympathize with people, but not to the point of letting it cloud my judgement. Business deals are legal agreements and unfortunately a lot of people are getting burned. It`s a tough lesson to learn, no matter the initial trigger. 0 Reply

comoncents7 Brian Mathies March 12, 2013 If you loaned me ten grand and then I lost my job and decided to never pay you back regardless of my future earnings would you be ok with that? If yes, can I borrow some money? my credit score is 680 1 Reply

uspatriot25 Brian Mathies March 12, 2013 Borrowing money is a business deal. Plain and simple, end of story. If you want to throw emotion into it, it becomes a completely different animal. I didn`t say that people shouldn`t be able to rebound - I said that it shouldn`t be forgotten from your credit report entirely. I think it`s rather generous of me to say that it shouldn`t entirely destroy your life from there on out. Our society seems to empathize with the people who make bad decisions. 0 Reply

guesttodae March 20, 2013 In hind sight, I wish my wife and I hadn`t suffered through our bad times by digging in to our retirement savings to maintain our 840+ credit score, and WE are PAYING for these A-holes to get another mortgage after just 2 years!!. We were both unemployed (not at the same time) for a 3 and one-half year period while helping our kids through college, and making all our payments on time throughout by using a major part of our retirement savings...I see now I was the FOOL for not letting all you other taxpayers and GOOD borrowers bail us out, too. This country is down the tubes, there is NO incentive to do the "right" thing anymore. 11 Reply

nononsense123 guesttodae March 20, 2013 How are you paying for their mortgage? 2 1 Reply

gsphillips1 guesttodae March 20, 2013 So leave already! You and your attitude certainly will not be missed! 1 5 Reply

uspatriot25 gsphillips1 March 12, 2013 Hey, let him vent for a second bud! He`s obviously upset that people are walking away from tough situations while he did the right thing and stuck his out. Kuttos to you guesttodae - I am sorry to hear you are frustrated and bitter about it though. Hang in there.

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It is harder to lose it to foreclosure

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