Underwater Mortgage? Walk Away!

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Category:

News & Politics

Tags:

• Business News
• davis fleetwood
• financial crisis
• Foreclosures
• Hamp
• Making Home Affordable
• Morgan Stanley
• Mortgage Walk Away
• Mortgages
• Stuyvesant Town
• Walk Away
• Walk-Away-From-Mortgage

[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.

[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

[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.

[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....