Biggest defaulters on mortgages THE RICH

They dont believe anything.

Its about nothing but toweing the party line.
Huh... I never knew I was a member of a party. Thanks for the update liesmatter. You and the delusional doofus patrol have it aaaaalllll figured out. Got your talking points from Eugene Robinson last night and ready to go I see.

"Conservatives don't believe what they are saying."
"It's all astroturfing just like we do."
"They're racist so of course they lie. Anyone who doesn't worhip P-BO is a racist liar."


Ayup. Just ooooooozing with credibility.
 
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The article references homes of" $1,000,000.00 or more."

I am shocked to hear that more rich people are defaulting on million dollar houses than poor people.

Shocked, I say!
 
Driving the ongoing housing crisis are chronically high levels of unemployment. With nearly 27 million people jobless or underemployed, and wages stagnating or declining, there is no reason to expect the foreclosure and repossession epidemic to subside.

US home repossessions set record in April, foreclosures plateau at ?very high level?

I find no references to the rich defaulting at a higher rate than any other group. A link would be helpful. I would say lower middle class homeowners would be the logical largest group.
 
http://www.nytimes.com/2010/07/09/business/economy/09rich.html?_r=1



Biggest Defaulters on Mortgages Are the RichBy DAVID STREITFELD
Published: July 8, 2010




More than one in seven homeowners with loans in excess of a million dollars are seriously delinquent, according to data compiled for The New York Times by the real estate analytics firm CoreLogic.

By contrast, homeowners with less lavish housing are much more likely to keep writing checks to their lender. About one in 12 mortgages below the million-dollar mark is delinquent.
 
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Do the rich all live in homes above $1,000,000 in value? Do the rich all have mortgages? No, clearly many people who were projecting an image of being rich are now caught. Your facts, do not necessarily lead to the conclusion the author and data source make.

Further, housing stock is vastly skewed toward homes under $1m. So the total number of homes is huge in the less than a million category. The truly rich would just payoff the mortgage.
 
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http://www.nytimes.com/2010/07/09/business/economy/09rich.html?_r=1

Biggest Defaulters on Mortgages Are the RichBy DAVID STREITFELD
Published: July 8, 2010
More than one in seven homeowners with loans in excess of a million dollars are seriously delinquent, according to data compiled for The New York Times by the real estate analytics firm CoreLogic.

By contrast, homeowners with less lavish housing are much more likely to keep writing checks to their lender. About one in 12 mortgages below the million-dollar mark is delinquent.

the numbers don't add up. The percentage of "rich" is too small to effect the economy in such a big way.
they count on people like you tm. Too dumb to do the math.

"And take a look at the May Existing Home Sales report from that National Association of Realtors.

Just 1.7 percent of all home sales in May were of homes over one million dollars.

That just gives you an idea of how small that marketplace is.

Here's my problem with the thesis of this article: A little less than 14 percent of the loans outstanding in the U.S. are "jumbo," meaning over $417,000, according to government statistics (FHFA). The number of loans that are over $1m are even less than that."

News Headlines
 
http://www.nytimes.com/2010/07/09/business/economy/09rich.html?_r=1

Biggest Defaulters on Mortgages Are the RichBy DAVID STREITFELD
Published: July 8, 2010
More than one in seven homeowners with loans in excess of a million dollars are seriously delinquent, according to data compiled for The New York Times by the real estate analytics firm CoreLogic.

By contrast, homeowners with less lavish housing are much more likely to keep writing checks to their lender. About one in 12 mortgages below the million-dollar mark is delinquent.

the numbers don't add up. The percentage of "rich" is too small to effect the economy in such a big way.
they count on people like you tm. Too dumb to do the math.

"And take a look at the May Existing Home Sales report from that National Association of Realtors.

Just 1.7 percent of all home sales in May were of homes over one million dollars.

That just gives you an idea of how small that marketplace is.

Here's my problem with the thesis of this article: A little less than 14 percent of the loans outstanding in the U.S. are "jumbo," meaning over $417,000, according to government statistics (FHFA). The number of loans that are over $1m are even less than that."

News Headlines

Let's face it. Truth isn't an issue.

These folks make a living just getting by on rhetoric instead of being honest and being real.

I was talking to my main squeeze today and I told her that what we've done is elect a bunch of professional troublemakers to solve our problems.....yet all they can do is cause more trouble and then blame it on somebody else. They aren't gonna be honest...they can't afford to be.
 
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Dear fucking idiot , I posted an article.

Those are not my words.

BTW, where was all your proof of the LIE you spouted that the dems do all this illegal stuff in elections just like the republicans do?

You flat out lied for partisan purposes and refuse to admitt yuou were wrong.
 
Dear fucking idiot , I posted an article.

Those are not my words.

BTW, where was all your proof of the LIE you spouted that the dems do all this illegal stuff in elections just like the republicans do?

You flat out lied for partisan purposes and refuse to admitt yuou were wrong.


Are you talking to me...or just anyone who will listen to you???:cuckoo:
 
HAHAHAHAHAHAHAHAHAHAHAHA!

They are not defaulting because they cant pay you idiot.

they are defaulting because their property is no longer a good investiment.

Jesus you rightiest are stuupid fucks.

Oh. I see. They are rich and since their property is no longer a good investment they are willing to allow their credit rating to take a dive in an effort to no longer need to pay off their debt. And they are more than willing to lose all they had already paid into the property.

Your logic, or lack thereof, is humorous.
 
HAHAHAHAHAHAHAHAHAHAHAHA!

They are not defaulting because they cant pay you idiot.

they are defaulting because their property is no longer a good investiment.

Jesus you rightiest are stuupid fucks.

Oh. I see. They are rich and since their property is no longer a good investment they are willing to allow their credit rating to take a dive in an effort to no longer need to pay off their debt. And they are more than willing to lose all they had already paid into the property.

Your logic, or lack thereof, is humorous.


If the property is heavily leveraged and is worth less now than when it was purchased, you can bet your ass they'll walk and credit rating be damned.
 
HAHAHAHAHAHAHAHAHAHAHAHA!

They are not defaulting because they cant pay you idiot.

they are defaulting because their property is no longer a good investiment.

Jesus you rightiest are stuupid fucks.

Oh. I see. They are rich and since their property is no longer a good investment they are willing to allow their credit rating to take a dive in an effort to no longer need to pay off their debt. And they are more than willing to lose all they had already paid into the property.

Your logic, or lack thereof, is humorous.


If the property is heavily leveraged and is worth less now than when it was purchased, you can bet your ass they'll walk and credit rating be damned.

Nope. Not logical. Simply a rediculous assumption on your part.

Wealthy people are in real estate for the long haul if they need be. They do not kill all possibilities of investing in new real estate simply to avoid a loss today...a loss that in time will be a gain.

Sorry. Illogical.
 
You people have your head so far up the rich people ass you cant think straight.

When you have assets you dont need to worry about your credit score you fools.

Jesus you people are stupid.
 
You people have your head so far up the rich people ass you cant think straight.

When you have assets you dont need to worry about your credit score you fools.

Jesus you people are stupid.

You really are clueless.
That statement you just made completely shows how little you know.
How pathetic.
 
You people have your head so far up the rich people ass you cant think straight.

When you have assets you dont need to worry about your credit score you fools.

Jesus you people are stupid.

Jesus you're stupid.

It doesn't matter how much property you own or how much money you make if your credit is in the toliet.

I used to be a Loan Officer. I know how the system works.
 
You people have your head so far up the rich people ass you cant think straight.

When you have assets you dont need to worry about your credit score you fools.

Jesus you people are stupid.

Jesus you're stupid.

It doesn't matter how much property you own or how much money you make if your credit is in the toliet.

I used to be a Loan Officer. I know how the system works.

She completely opened up with this statement.

LMAO..."those with assets dont care about credit rating."

OMFG! I can not believe there are people that clueless that actually try to debate political positions.
 
Dear idiot, you are a lying sack of shit.

If there is property for a loaning institution to take in replacement for the money they will give a loan.

They dont loan to people because they are moral referees they loan for profit.

If they can profit in a default they will loan the money.

Jesus you are full of shit.
 

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