Added: 2 years ago
From: gsrand
Views: 7,269
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  • If they are already in debt and can't pay their mortage what happens next? Super secret double debt? XD

  • FOXbusinesNews! OF COOOOOOOURSE!

  • fuck u FOX NEWS....

  • Fox news is not news..It half truths and mostly lies!..

  • I don't like Obama, but I hate Fox's idiots so much more. I can't think of any other "news" network where every single person sits around talking about how *terrified* they are of some politician getting a second term.

  • So much advice from people who did it wrong themselves. If your goal is to understand how to build wealth, listen to people who have done it, not people who have blown it.

  • One other thing-we the people provided the bailout for the wall st thugs, who of course take your money, do not work with you on your mortgage needs, they default themselves on deals (like the bailout itself !!), for ce us to lose everything, then go home to their high end homes,pools,elitism........f' em, walk now. do not belive this crap.

  • elitism: insertion of goldman sachs into your white house.

  • We walked from our home, and don't care about the banking system who in turn didnt care about us. Yes, walk. Just rent for the 7 years of lesser credit, big deal,you can get store based credit cards, keep a low balance, buy a sweater here some shoes there, pay it off every month, in 7 years, the housing ind will still be bouncing back and your credit rating will be back to snuff, and you will NOT be in the hole still at an average of 150K !!! f' em back.

  • 3 to 5 years? How did that turn out?

  • No state has a statute of limitations of 21 years on any debt. Wisconsin is generally 6 years. A judgement can be placed against you and your wages garnished until the debt is paid.

  • This guy Rand is really solid.

  • wow - total lies.......no doubt a bank plant. Let's assume you live in WA and the lender forecloses via non-judicial (99%+ of foreclosures in this state), then I would challenge this idiot with finding a way for the lender to sue the homeowner. It's in WA state law that they can't.....and several other states too

  • Bunch of idiots. "In every state they can convert the deficiency to a personal note, so you're basically throwing away $100K" ABSOLUTELY not true, know your state laws. "You've got to look at the long term picture and where things are going to be in 21 years." Huh? I've been doing my analyses based on the seven year effect of paying my mortgage vs renting; figuring that I can buy again in seven years if it makes sense economically, since the foreclosure stays on your credit for seven years.

  • It is that easy.

  • Varney is an idiot...and the Better Homes and Gardens dupe is a Bank plant. If the Bank converts your mortgage debt into a personal note, at the very worst, a backruptcy will protect you. Which is a 10 year record, not 21.

    .

    Anyway, the Banks loaned you $10. for every $1. they actually had, and in some cases up to 18 to 1, so you have to ask yourself...WHY SHOULD I BE FORCED TO TAKE ALL THE RISK? The Banks don't, and still they get bailed out!

    .

    WAKE UP. Stop borrowing...just STOP.

  • @pjamesbda My freind you are actually more knowledgeable than these phony idoits.

  • @pjamesbda - Thank you for the kind words. Just call me Icarus, and ironically for the fall I am more grateful than for having flown.

  • These guy are retards

    Getting peoples hopes up after the mortgage meltdown by getting peoples hopes up with rising house prices

  • I just started a strategic default and stopped paying last month.

    90-100K underwater:-wife lost her job, -never wanted to stay here, etc.

  • Well, I live in Arizona and we are a non-deficient state. As long as I have less than 2.5 acres and it's my primary home, The banks can't come after you. And with the Home Mortgage protection act of 2007, the government won't tax you the difference

  • These "strategic defaults" now account for nearly one in three foreclosures, according to a recent report from the University of Chicago Booth School of Business and Northwestern's Kellogg School of Management

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