Underwater Mortgage? Walk Away!

[ericapoopface]

i love him.

[MrROTD]

I used the same argument with my Credit card, I told them the money didn't exist in the first place so therefore the debt isn't valid LMFAO all they did was fuck my credit up but I havent heard a thing about the 5000 dollars since. The collection guy was like "fuck this I give up" XD

[StratusBlue]

A "bubble" is a criminal act: Fraud involving price fixing and monopolization to create false scarcity. The "racket" involved government, quasi-government banks and a plethora of Realtors.

It is natural to blame self when victimized. Certainly the criminals that defrauded you are well protected in their racketeering, having control of the justice system too. So add a feeling of hopelessness to your shame at being fooled.

But never forget your REAL DUTY. Occupy a crime scene. For others.

[Loudensll]

are people really this dumb to go along with this.  If you can afford it pay it. If you lost your job or something or you have an arm loan then by all means do what you gotta do. but if you have a fix mortgage and can afford your payment don't walk away because the value of your home has changed that makes no sense where are you gonna live and who is gonna rent to someone who defaulted on a house loan. trust me credit has become a huge part of renting. even if you have money for a full year

[85bmw528eguy]

I walked away from my mortgage because I tried and tried to get my lender to refi to a lower interest rate and they would not let me go from a 7 percent to a 4 percent which would have made my mortgage affodable. Banks are the biggest crooks in America. The only difference between a banker and a bank robber is which side of the counter they stand on. Screw them they are just as immoral as they would accuse me of being.

[rossbagley]

Either you make the payments or you give up the house. Under that agreement: live in the house until they take it away and you've 100% fulfilled your end of the bargain. In California (and many other states, check your local laws), if you have a single mortgage (not refinanced), the first mortgager can't even come after you. All they can do is sieze the home. Which is a perfectly acceptable outcome in the current market.

[kismet0001]

By the way "therealestatestation" needs to learn the laws of real estate pertaining to the state.. In Arizona where I live and many other states there is a "no recourse" law in effect which means no mortgage provider can come after you after a sale of a home after a sale of a foreclosure. Also in Arizona the state won't tax you for the difference andofcouse the feds won't either.. Homes are sold as is in an auction.

[kismet0001]

I purchased my home in 2007 for 221,000. Now the home is worth 85000. YES you idiots you do walk away.I made an agreement with my bank Wells Fargo. I pay the mortgage I keep the house, if I do not pay they get the house back. Nothing I am doing is against anything I signed.By the way I can purchase a new home in 2 years....

[kismet0001]

I purchased my home in 2007 for 221,000. Now the home is worth 85000. YES you idiots you do walk away.I made an agreement with my bank wells fargo. I pay the mortgage I keep the house, if I do not pay they get the house back. Nothing I am doing is against anything I signed.By the way I can purchase a new home in 2 years....

[girixbushi]

totally agree with this guy !

[shanemacc]

dude ...your little rant won me over ... your bang on!

[shanemacc]

ummm what about those of us who didn't buy during this huge upswing because we knew it was nuts and just didn't want to get caught when the music stopped ...how come people are allowed to default ...people should be held to their obligations if they can afford the payment ...even IF they owe more than it is worth. I do NOT feel sorry for these people!

[namekuji]

What a moron. You'll destroy your credit. You promised to pay a certain amount and now you break it? Go for it, but no one will ever loan you money again and you'll spend the rest of your life renting a trailer home. Dumbass

[assym2006]

@namekuji

and ? you should not borrow money in the 1st place, save and buy with in your means. Thats what I did Now at 42 I have a home fully paid for and no debts. Yes it's hard but it can be done. You just go with out that new cell phone every 3 months and new car every year or so. Save and pay cash.

[namekuji]

What a moron. You'll destroy you credit. You promised to pay a certain amount and now you break it? Go for it, but no one will ever loan you money again and you'll spend the rest of your life renting a trailer home. Dumbass

[dgallegos4201]

Yeah cuz when you take out a loan you shouldn't have to pay it back. Why be responsible? You have a right to own a house you have no dream of paying for.

[FRGI2010]

In response to the Real Estate Station. There are many states and many situations where you can stay in your house for a long period of time without making your payments, the lender will pay you to leave and they can't touch you later. The only thing they can do is damage your credit. Over half the country can't get a home loan today anyway. The bottom of this market is still 4 or 5 years away. Don't let morals get in the way of your survival. Check out Financial Revival Group.

[TheRealEstateStation]

One thing you should know...if you walk away form your mortgage. The bank/lender will foreclose...rightfully so. Then after they sell the property for pennies on the dollar they will sue you for the difference in the selling price and what you owe plus fees. They have five years to file that law suit and when they win (they will win) they have 20 years to hunt you down and collect. 20 years of harassment, garnishments, debt collectors.

[TheRealEstateStation]

One thing you should know...if you walk away form your mortgage. The bank/lender will foreclose...rightfully so. Then after they sell the property for pennies on the dollar they will sue you for the difference in the selling price and what you owe plus fees. They have five years to file that law suit and when they win (they will win) they have 20 years to hunt you down and collect. 20 years of harassment, garnishments, debt collectors. Just sayin'

I

[danadlt1]

Let's declare a national "Walk Away" day! Somebody Pick a day.

[Agent1W]

@danadlt1 How about the inauguration day of President Obama. January 20th, 2009.

[dl5373]

agree 1000% im doin it

[misterwipedown]

brilliant guy.

[wright4ULG]

Thank you for your youtube. I have posted it at piggybankblog com with has been created for all those who have been abused by Bank of Destroying America. I am John Wright and I AM FIGHTING BACK!

[strategicdefaultlaw]

My Strategic Home Default

[acurabud2]

Why does it matter if your home is worth less now then when you bought it. If you bought the home to live in, then it is still the same house now as it was before, just live in it. If you bought the house as an investment then you made a bad investment. Can someone please explain why it matters what the current value of your house is if you are going to live there for another 20 years. The value only matters if you are going to sell your house in the near future.

[jcraq]

@acurabud2 If it is your main residence. Which most people can only afford one home. You cannot sell it! It is not worth what you owe on it so how can you sell it for what you bought it!? You cannot move unless you destroy your credit! Plus the reason you bought the place is to gain "equity" positve net cash. Now youre losing money for the next 20 years paying for it. Basically, you have to pay for something that you know you are negative on the entire time. Oh yeah, and it's for 30 years.

[desertr0se2007]

I first purchased a larger home, then walked away from one that I was upside down in. That was last year and I'm glad I did.

[tarsier4u]

MORAL QUALMS?? YEAH LETS TALK MORALS: LETS TALK ABOUT THOSE HONEST BANKS TAKING MILLIONS OF SUBPRIME ( AKA RISKY) MORTGAGES AND FRAUDULENTLY LABELING THEM AA AND AAA RATED SECURITIES , SELL THEM TO OTHER FINANCIAL INSTITUTIONS AROUND THE GLOBE FOR BILLIONS IN PROFITS KNOWING THEY WERE GOING TO GO BAD. I FEEL SO

[tarsier4u]

MORAL QUALMS?? YEAH LETS TALK MORALS: LETS TALK ABOUT THOSE HONEST BANKS TAKING MILLIONS OF SUBPRIME ( AKA RISKY) MORTGAGES AND FRAUDULENTLY LABELING THEM AA AND AAA RATED SECURITIES , SELL THEM TO OTHER FINANCIAL INSTITUTIONS AROUND THE GLOBE FOR BILLIONS IN PROFITS KNOWING THEY WERE GOING TO GO BAD. I FEEL SO

[Okfalls]

LOL! The only ones to blame are the realestate agents who vend cheap money to idiots.

[taysirk]

Im walking away... they foreclose...

[xtraeffort2pay]

My account is currently on hold pending payment up to date. Do I call them and let them know I am walking away and just let it go into foreclosure? Do I move out? Will I be stuck with the balance of the mortgage if it sells for less?

[taysirk]

I agree with you, I should take your advice. thanks!

[Elchochkie]

I have to say I agree with your solution to just "walk away". So how do you feel about the Federal Reserves involvement in all of this? I know you mentioned JP Morgan as an example but the real reason they were able to pay back the tarp funds was because they are a part owner of the Federal Reserve. So to pay back the tarp money they just just took it from the Fed. in either case the money comes from us.

[TheTwiggyHere]

Are you SERIOUSLY telling people to collapse the market and push our recovery off 10 more years? People actually considering this to be a viable concept are also HandOUT vs. HandUP? When you sold at a profit in the past, did you hand that money to the bank and thank them? When you buy any investment, there is a risk. So, all of you are now going to point the finger because it couldn't possibly be your fault. Own your responsibilities. THIS is not the answer. We will ALL get through this.

[LifeTributes]

Your idealism is refreshing, and if we were all playing by the same rule book, I would say you had a point. But the reality is that Wall Street is the primary culprit of this bubble. Through their fancy mortgage-backed debt obligations, they created a hot air balloon that rose to stratospheric heights. Unfortunately, we're all suckers because they had parachutes, and jumped out when the balloon popped. Guess who's still inside?

[ordphx]

@TheTwiggyHere

Wall street created the bad loans, and then wanted the bad loans to fail. Wall Street bought insurance against these loans, hoping they would fail. Feel any differently now? Tune into the news, because it's finally making the headlines. Goldman Sachs can go rot in hell.

[mustangersalie]

my ''american dream'' is now a nightmare - i'm getting ready to walk - if all of us that were 'had' by these scheming devils did so, it might take care of the problem

[desertr0se2007]

Amen to that.

[freepress666]

Do not run from the mortgage, you can A4V it yourself and it will be paid off

Goggle Doug Riddle Pass word, methis

Any public debt can be paid off this way

[xtraeffort2pay]

@freepress666 --Is there a website?

[RBLA818]

-- The Power of the People on Top Depends on the Obedience of the People Below!

- Howard Zinn

[eLiMU6]

food. water, and housing shouldn't be why people work jobs.

the system is a scam.

[marniespeaks]

a mortgage is only a contract and most of you paid mortgage insurance to cover walking away

remember!

course we all pay to cover the loss

which is why every American should be given a home immediately and make it fast before China and the Saudis buy everything up cheap

oh and before you bail

get a lawyer

[STARFIRESOLAR]

Ya gotta do what ya gotta do sometimes.

[mungojorie]

god, i wish i had heard this 2 years ago!!!! we struggled to hold onto a house, paid tons of money and ended up losing it after all...oh and the person who said the thing about credit rating, ours got screwed anyway ..no matter how hard we tried. davis is right...walk away NOW, just like the big boys do...and start again.

[jdetuncq]

RIGHT ON DAVIS!

[ndyt]

all you have to lose is your credit rating...

[lessgovtnow]

Great job on this one!

You acknowledge democrats (at least in the executive branch) as being a part of the problem just as repubicans are (the system).

They may sound different, but their actions dovetail way too frequently.

[mja2035]

Obama should just pay off everybody's mortgage, just like the banks.

[Hendo1974]

American Nightmare=Depression is HERE!

[motorolarules]

Stop paying,... that is the responsible thing. Walk away from federal tax, bad deals caused by criminal corporate government, walk away from compliance. Do what they don't expect, buy local produced food, grow your own, buy only what you have to have with money you actually have, etc

[MrRedPajamas]

My damn principal went down $2000.00 in one year. I'm paying the INTEREST on the mortgage. Banks and bankers have been fleecing people for decades. Kill the bankers.

[oc5nsli341nforce4]

Instead of it being paper they are going to get lynch mobs with nail bats and machetes all of which have a score to settle with the banksters.

[10thAngel]

Don't pay your Mortgage, make the bank prove that the money existed before the transaction. They need (by law) have the funds for it, or otherwise they are baiscly, counterfiting the money.

[ArcticSlicer]

What ever happened to thisdayintheusa?

[davisfleetwood]

@ ArticSlicer: I am turning this day into the usa into a feature length "docu/ mocumentary" and book. The project (in my mind, anyway) got much bigger than what I could package in a series of 3 minute YT videos. Should be availabe for public consumption by May.

[ArcticSlicer]

Thanks for the information. Looking forward to it.

[projectdurden]

The more people walk away, the lower other peoples houses are worth and the more other people will want to walk away. Its a Viscious Cycle. The US economy is in free fall. By this time next year. Suicides will replace cancer as the number 1 killer. The American dream is now the American nightmare.  Welcome to hell folks. Welcome to hell!!

[gmfutube]

Housing needs to go back to realistic prices. That is what the problem was to begin with.

Homes need to stay in the 3x income range for the system to work.

Those who bought these over-priced homes made bad choices. Walk away now and save your money for when price go back to a reasonable level.

[sammieluvsdoomy]

stop paying, make 'em produce the note.

[gmfutube]

many of them can not produce the note, so they have no legal right to take the property.

[sammieluvsdoomy]

Exactly =)

[bushuraloser]

really we must stop working for them and start working for ourselves.

[Tapecutter59]

Rich people seek proffesional financial and legal advice. If your pissing away your money on a house that is worth less than the loan balance you should do the same.

No point letting a developer buy your home in a depressed market only to sell it back to you when things pick up.

[village1diot]

I know someone who walked away from $35,000 in credit card debt. 3 years later I... erhh, I mean... he, now has 2 more credit cards and is racking up another nice chunk of debt.

Does he feel sorry, or regretful? Nope, nuh uh, no way, not at all. He feels they have been ripping people off with no problem...so cool, no problem, back atchya.

[eddietru]

run away don't look back.........

[SkullVodka]

I would only take this advice if you are seriously upside down. Things will change and in 10 years, many of these people will be fine as their valuations will increase. This is irresponsible advice, and does not apply to all homeowners who are "underwater".

Ans just think, after 10 years, your house is 1/3 paid off.

Walk away now, and in 10 years, you'll have nothing but an apartment lease. Think these things through people.

[EntropyUniverse]

@SkullVodka if you foreclose you can still get a new mortgage from the FHA or Fannie Mae in three years if you keep the rest of your credit clean. Only, now you can get a mortgage based on the current market value. Your mortgage will be paid off in three year but you will have only paid back less than 1/3 of your high balance. You will have less equity. Yes, not everyone should just walk away. But there are many scenarios where that is the best thing to do.

[SkullVodka]

Many scenarios? Most of the bad loans today are loans taken out in a 5 year window where banks were giving really crazy and shitty loans to a lot of people who had no business buying homes.

Where is the sense of responsibility for the people that took out 50 year loans, and 3 arm mortgages, or with adjustable rates? Sure the banks were unscrupulous, but the borrowers were reckless.

The other 82% chose wisely and some are "borderline". They should stick it out. MOST should.

[hulk12078]

Tell that to the more than 30,000 Kodak workers who were downsized, by that I mean showed up to work one day (while making middle or uppermiddle class wages) and were told you have no jobs. For those who did not have transpo they had city busses lined up and ready to take them home and plenty of cops. Many had been knocked down to min. wage jobs and you know the rest. Think about this: that was just one company...in one city. Think about that...4 industrial parks gone, hmm. Not black and white

[SkullVodka]

Hulk, The fact that one company laid off a bunch of workers is a very, very, poor reason to tell people through out the country to walk away from their loans. You must look at the country as a whole.

Remember, (read back), I never said that ALL should not walk away. I just said that most should stick it out. And by "some" should walk away, I am not arguing. There are over 50 million mortgages in the United states. Davis is saying that if you owe more than its worth, walk. Bullshit!!!

[hulk12078]

Ahh, but that is just one company in one city...but there are dozens more in that city alone. Now pay attention, i'm not a conceited jerk here... The Banks are in favor of whom...? That's correct, even going out of business they will do more for the Co. than they will ever think about doing for you or I. They allowed this all to happen, they from 10 up to $20 for every dollar you put into them and the gov't let them do it. So yeah, fuck them in their hole, because it IS their hole.

[hulk12078]

"they lend from 10..."

[hulk12078]

And my reasoning for supporting this idea is we've been through these economic phases before, agreed? "in 10 years it'll be ok, and a 1/3rd paid off"(paraphrasing). Through each one of these cycles one group grows their wealth exponentially and the others wallow in the mire. I AM looking at the whole country and periods of time as well. I'm sorry, but if a system is flawed this badly...it's time to hit the reset button.

[gmfutube]

The best thing for the nation in the long run if for house price to return to realistic levels. That is housing can not be more than 3x income. If you bought a house in the past 6 yrs, you probably paid too much for it. Your real estate agent, your appraiser and your banker all LIED to you about the value of this ho me, and its perceived future value.

We haven't seen the bottom in housing or employment.

The sooner these criminal bankers have the shit on their books exposed the better

[Swansen03]

well said

[EntropyUniverse]

@SkullVodka Other than showing that you are bitter about paying your mortgage, I'm not sure what your point is. Anyone that takes out a mortgage knows that if they don't pay they lose their home and their credit is affected. If you offer people money, they're going to take it and that's what happened. The banks knew they were lending to people that could never pay them back or that had bad histories of paying.. People that foreclose are simply making business decisions.

[anolmec]

You do not understand what happened. The bank has a fudicary responsibility to make certain the loan they offer can be REPAID. It is THEIR responsibility. PERIOD. What the bank did do was combine a number of mortgages into a pool, and purchased insurance that the pool would under perform. Now were you offered any of that action? Did you know about that action? The bank sold the pools to investors. THEY NEVER LOST ONE DAMN DIME. You are suggesting one CONTINUES TO FEED A FRAUD.

[NEOPEAKOIL]

Mr, Fleetwood,

You have asked to "friend" me and I wonder what your thoughts are concerning ZEITGEIST MOVIE which is a free online documentary, prior to any potential friend or court-ship please thank you sir! :D

[julsHz]

New academic paper by Brent T. White, Arizona law professor, suggests just this. You could at least have given credit for the idea.

[garagepr0ductions]

Keep on movin' man

[hellboymaine]

that was fuckin awesome... FUCK THE SYSTEM.

[JamesGimbi]

When you're not busy alienating me, you make me very happy. Loved this one.

[EventStatus]

Very well said Mr. Fleetwood.

[medhue]

Ok, man, I think the old davis is back. I must say tho, did like the old spaztic dancing, lol. Nice work dennis!

[wolfofworld]

I rent and the homeowners around me tell me that at least they own their home. I tell them to quit paying the payments and see if you still own it.

[liesandtricks]

Great video again

[Maynardsat]

Wow, someone that actually understands the situation and is giving solid advice. Awesome video!

[zaggers77]

Damn you've started this year off really good. Every vid has been spot on.

[sirnicholson]

bad thing if the bank sells it for less then what you paid for it you owe the diff.good thing is if they sell it for more you have a check coming

[CliveSinclairZX]

good stuff

[kellylynn9999]

Turn off Cable TV....oops

[kellylynn9999]

You rock!  That was fast......

GLOBAL MORTGAGE STRIKE...why stop there...include Credit Cards as well!

Turn on cable TV

[AbbeyNormal]

I believe in doing the honorable thing, but there's nothing honorable in way the lenders are treating homeowners. They're doing whatever they can get away with even if it means taking literally everything you have.

[goog2k]

"Of the people, by the corporations, and for the corporations."

The new Supreme Court decision will allow a corporation to run false attack ad campaigns against anyone they wish. That means they can now EXTORT every politician in the U.S. to do anything they want for profit.

You think you're getting screwed by health insurance companies, Wall Street, and credit card companies now. Just wait. All consumer protection will be the first to go.

We haven't seen anything yet.

[PeaceProfit]

Swim*Away, stop feeding the corporate sharks, seek rent to own and for sale by owner, shop locally, support community financial systems, reinvest in the grass root family owned structures which built the True America...

C.H.A.O.S.

[excelgeo]

great stuff

[bleunt]

I'm sorry to be this guy, but I can't stand how people use the word "literally". The American dream is NOT quite literally strangeling them.

[fatpius]

love the message. luckily, i'm OUT of the ratrace...i stay in too, so others can go out;)

[matsutakneatche]

eh...i wouldn't be so bold about this, although it could be the right choice for some. Renting is a scam in itself...anyhow good luck to people. we have a house and its the best thing that ever happened to me, although its not underwater, it has depreciated by 40,000 in the last two years...:(

[YuiHisaishi]

Yay! We're all masochists! ^_^

[anolmec]

There is a MUCH MUCH better idea...investigate your mortgage. You will find (hint hint) that the bank NEVER notified you of your 3 day right to cancel....a REPSPA RIGHT that extends until THEY DO. Send a NOTICE OF RESCISSION, demanding all monies paid returned. Tell the bank to SHOW YOU THE SIGNED-BY-BOTH-PARTIES NOTICE OF RIGHT TO RESCIND. They lost that notice along with the mortgage note. FELLOW COUNTRYMEN..stop being a bunch off ASSHOLES. DEMAND YOUR MONEY BACK.

[ravenessex]

Good Advice!!!!

[kellylynn9999]

Great idea......have anyplace in particular to get more info?

[anolmec]

livinglies wordpress com

[Justice4all311]

a very good idea. stop paying the bankers and credit card companies and invest in yourself. their job is to make the middle class bankrupt. if you owe more than you can afford take this advice.

[JvampDude]

"Walk Away!!" should become the new "Hack The Planet!!"

Kind of sad...

[aa6757]

Wow. For once a video that I don't turn off halfway through and one that I actually agree with. If fact, he hit it right on the dot.

[aa6757]

I was with country wide, Bank of America bought out Country Wide and now I right a 1200 dollar check every month to Bank of America. I pay on time every month, never had a late payment but I noticed they have added CRAZY fees and costs for EVERYTHING. I can't wait to get this house paid off becuase I hate Bank of America and would never had originally aquired a home loan throught them

[hollytoo]

Any good lawyer will tell you during a bankruptcy to NOT renew your mortgage agreement. Why? For this very reason - so that you can walk away at any time.

[OhioDemocrat]

Excellent advice! A bank never loaned me money unless they thought there was something in it for them. Why shouldn't the same be true for the consumer?

[Pleblian]

Good vid, well said.

But mortgages where folded into hedge funds that allowed investors to bet for or against it doesn't matter whether you pay it or not, somebody gets rich.

BTW... I walked away three years ago.

[Boomer1949]

I've heard of "jingle mail" but don't know anyone who has done this. In fact one person I know went through hell getting their loan refinanced but will still need to work two jobs for quite a while to make ends meet. Is it worth it? They think it is. I would think twice before walking away.

[Loathomar]

It all depends on how much you are underwater relative to your income. Being over a year of before tax income underwater is insane. Say you own 500k on a 350k house and your earn $100k/year before taxes, 66K after taxes and say you are paying half towards your home with a 5% interest rate. 66/2 = 33K/year - 500K x 5%= 8K paying down the capital, it will take your over 15 years to brake even! Go rent a place for 2k a month, and save the difference, you'd have 135k after 15 years without interest

[Loathomar]

But you should think about walking away, think about it long and hard. It is a very big decision, but it can be the right one to make.

(note on my numbers, I did not include the tax deduction, or property tax, or repair costs, but I would guess between the 3 it would be a wash)

[ebaltrace]

Dear Davis, I own a vacation home [not my primary residence] which is now about 50K underwater. If the Bank forecloses it will sell for even less. Can they go after me for the difference? I have other assets. Are you a lawyer?

Ebal the Atheist

[Loathomar]

Not a lawyer, by the bank can fill a IRS Form 1099-C and you will be taxed for the lose that the bank received. The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. The only walk away is to make that house your primary residence. Again, not a lawyer but that is my understanding of it.

[lewislwood]

I like the Huffington Post Idea of everyone moving their money from Big Banks to small community banks. They loan locally and it is good for the local economy.

If mortgages are held and backed by small local banks this idea of yours will hurt the local economy. Big bank mortgages have at it, serrves them right, they need to shrink those 2B2F.

[tripleVeeVee]

I'm diggin' ya, Mr. Fleetwood!

Keep it up!

Best regards,

Shane

(not a homeowner... and proudly couch-surfing for 6 years, and counting!)

[bbbleaver]

keep this up davis and people won't have any excuses left for not doing what they have always wanted to do: live according to their own values.

[defect530]

im having trouble with any dream.

america is doomed

[bimblinghill]

I don't have any moral qualms about this (and am fortunate enough not to be in this position), but: is it possible to get away with this? Would it prevent you from getting a loan in the future, for example?

[Loathomar]

Yes, well it depend on how much you are underwater in your mortgage. It will RUIN your credit, but it you have a 400k mortgage on a 300K house, you need to walk away. Trust me, your credit is not worth 100k. Though, you can also go to the bank and see if they are willing to rework your loan, letting them know that if they do not rework the loan, you walk. If you want to do it this way, do all your homework first. Learn the law for this or get a lawyer, before going in.

[bimblinghill]

@Loathomar: "If you want to do it this way, do all your homework first. Learn the law for this or get a lawyer, before going in. "

I couldn't agree more. I hope nobody takes risky decisions such as this based solely on YouTube vids.

[Loathomar]

I liked the vid, but yes, the decisions to walk or not walk away is HUGE, often equal to or greater then a full years salary, if you put in 2000 hours of work for that money, you should spend a few days/weeks in research a decision before making it. But I like the vid as it will hopeful make people think about it and make the best decisions they can for them selves. This should be a question of money and not morals one.

[bimblinghill]

@Loathmar. Yes, although I'd like to clarify one point: It *should* be a morality issue, but unfortunately, morality is not a feature of the policies of the financial industry. Therefore, it is with some reluctance that I accept that it is justifiable for borrowers to take whatever steps they need to to protect themselves.. as long as they can be sure they can get away with it!

[JakeChaos666]

Do know, sometimes I don't even understand what your talking about. sometimes i do, dont get me wrong, but often it just flies over my head. But i watch this in an attempt to educate myself, mostly just because for some strange reason, i love hearing you talk....

Sorry. sounded less creepy in my head.

[wedr1nkritalin]

Thanks for making these videos, nice to have a left of the mainstream liberal view in american affairs. I'll be donating when I next get paid my wage slavery : D

Much love from Ulster

[FreakFromFire]

Davis you are awesome! :)

Love you!

xxx