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Some good news about the economy for once

Discussion in 'Sports and News' started by mustangj17, Oct 27, 2010.

  1. Michael_ Gee

    Michael_ Gee Well-Known Member

    It's not giving up. It's deciding to expedite what's going to happen anyway -- you losing your house because you can't make the payments -- at a time of your choosing. It's a decision with high costs, but if you're drowning, a piece of floating wreckage looks pretty good.
     
  2. Boom_70

    Boom_70 Well-Known Member

    The banks don't look at differently. why should the mortgage holder? Everyone should do what's best for them. You can bet that's what the banks will do.
     
  3. Bob Cook

    Bob Cook Active Member

    May I ask, if you're so concerned about character, why you're a Mets fan?
     
  4. Boom_70

    Boom_70 Well-Known Member

    Hah - maybe he is Fred Wilpon - clearly a man with no business sense.
     
  5. nmmetsfan

    nmmetsfan Active Member

    I'm not being foreclosed, so I must have at least as much business sense as those who are throwing in the towel, right?

    As for why I'm a Mets fan, not everything has to make sense, does it? Emotional ties with a now deceased grandfather are why I became a Mets fan in the first place. Now, I'm not so sure why...

    Boom you keep bringing up what the banks do as if it has any relevance on personal character. Didn't we already know that character has no place in the business world? What you would do says something about your character, not what the banks would do.
     
  6. Pancamo

    Pancamo Active Member

    Can someone explain how a bank, which sold off the loan in a bond, have the right to foreclose?
     
  7. zagoshe

    zagoshe Well-Known Member

    Not too mention it makes no sense to continue to throw good money after bad. You are better off punting.
     
  8. Ace

    Ace Well-Known Member

    I doubt that's true. I'm sure the mortgage broker was telling you that. On the other hand, no one forced them to loan money to someone who likely be defaulting.
     
  9. Boom_70

    Boom_70 Well-Known Member



    Punting is not the honorable thing to do. Lose your house - keep you honor and live on the street.
     
  10. Ace

    Ace Well-Known Member

    I don't get how this is an issue of character.

    How about if you open a business and sign a year lease and go under after 6 months. No one questions the character of the small businessman.

    It's a contract. There are penalties for breaking the contract. If the penalties are a better option, go for it.
     
  11. Boom_70

    Boom_70 Well-Known Member

    It's about watching "Its a Wonderful Life" one too many times.
     
  12. Bob Cook

    Bob Cook Active Member

    I think all arguments about "character" when the Mortgage Bankers Association walked out of its building after three years and let it lapse into foreclosure.
     
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