DUH!!..69% Say Those Struggling With Mortgage Should Sell, Buy Cheaper Home

[8537]

Note to the moron brigade: If you're underwater (which is the effectively the case without about 50% of US mortgages) you can't simply sell your home and move into something cheaper.

What we need is more people sending the keys to Bank of America and saying "Thanks but no thanks, sorry I'm not sorry".

Thank you and good night.

 

[Unknown_Soldier]

It makes NO difference if they lost a job or jobs.

If you cant afford the mortgage.....sell it and get something you CAN afford.


The world does not owe anyone anything. [/COLOR]

Wrong question. The right question is, CAN they sell it for enough to pay off the mortgage, and so be ABLE to buy something cheaper? (You know, questions about what is POSSIBLE have to be answered before you can decide which, among possible actions, is the RIGHT thing to do. If something can't be done, it's obviously not the right thing to do.)

Again... the bottom line is that they cannot afford the mortgage they are carrying.

If I loan you $20K to buy a car and 6 months later that car is worth only $5K because of some unforeseen incident that has also affected your ability to pay the $20K note does it make ANY sense for me to say tough shit sell that car and buy one you can afford? I loaned you the money, making it just as much my problem as yours; AND if you sell it now it's only worth $5K and you owe me $20K - minus 6 months payments.. Where is that money coming from?

Likewise , what does bankruptcy cure? It doesn't help me recover my money.

And that is a vehicle, which naturally depreciates. A home on the other hand, well eventually the housing market will bounce back, maybe not to previous levels, but definitely enough to reverse some of the current trends.

I think some of you are very confused about what it means to be conservative.

 

[bripat9643]

Thursday, March 22, 2012

While most Americans agree now is not the best time to sell a home, they feel stronger than ever that those struggling to pay their mortgage should sell their home and buy a cheaper one rather than receive help from the government.
69% Say Those Struggling With Mortgage Should Sell, Buy Cheaper Home - Rasmussen Reports™

Almost 70% think logically that DUH.. if you are living in a home you can't afford..
SELL IT!!!!!

It's scarey that 30% think the government should step in to bail out idiots from their stupid decisions.

 

[eflatminor]

So they will not be buying another home, they will be trying to find something cheap to rent.

Oh God NOOOOOOOOOOOOOOOOOOOOOOOOO! We can't have people living within their means. That's CRAZY!!!

 

[Soggy in NOLA]

Wrong question. The right question is, CAN they sell it for enough to pay off the mortgage, and so be ABLE to buy something cheaper? (You know, questions about what is POSSIBLE have to be answered before you can decide which, among possible actions, is the RIGHT thing to do. If something can't be done, it's obviously not the right thing to do.)

Again... the bottom line is that they cannot afford the mortgage they are carrying.

If I loan you $20K to buy a car and 6 months later that car is worth only $5K because of some unforeseen incident that has also affected your ability to pay the $20K note does it make ANY sense for me to say tough shit sell that car and buy one you can afford? I loaned you the money, making it just as much my problem as yours; AND if you sell it now it's only worth $5K and you owe me $20K - minus 6 months payments.. Where is that money coming from?

Likewise , what does bankruptcy cure? It doesn't help me recover my money.

And that is a vehicle, which naturally depreciates. A home on the other hand, well eventually the housing market will bounce back, maybe not to previous levels, but definitely enough to reverse some of the current trends.

I think some of you are very confused about what it means to be conservative.

Huh?

 

[RDD_1210]

It is not that simple.
Many of those people are underwater in their mortgage.
Many of these folks were stupid enough to take out 2nd mortgages to put in a pool, or build a super deck or turn the basement into a very expensive home theater.
They may owe $375k but the value is $280k...where the heck are these people going to get $10,000's to pay the difference? Many of them are only paying interest payments.

Geezus. No wonder this country is screwed.
It's called bankruptcy. You can't pay your debts, you bankrupt. In some states even that isn't necessary. Just send the keys to the lender (jingle mail) and you're done. Most people end up renting as nice houses for less money than they were paying in mortgage payments.
Another example of a wasteful governmental program.

Holy shit your "solution" is bankruptcy. What kind of fake personal responsibility conservative are you?

 

[syrenn]

Wrong question. The right question is, CAN they sell it for enough to pay off the mortgage, and so be ABLE to buy something cheaper? (You know, questions about what is POSSIBLE have to be answered before you can decide which, among possible actions, is the RIGHT thing to do. If something can't be done, it's obviously not the right thing to do.)

Again... the bottom line is that they cannot afford the mortgage they are carrying.

If I loan you $20K to buy a car and 6 months later that car is worth only $5K because of some unforeseen incident that has also affected your ability to pay the $20K note does it make ANY sense for me to say tough shit sell that car and buy one you can afford? I loaned you the money, making it just as much my problem as yours; AND if you sell it now it's only worth $5K and you owe me $20K - minus 6 months payments.. Where is that money coming from?

Likewise , what does bankruptcy cure? It doesn't help me recover my money.

And that is a vehicle, which naturally depreciates. A home on the other hand, well eventually the housing market will bounce back, maybe not to previous levels, but definitely enough to reverse some of the current trends.

I think some of you are very confused about what it means to be conservative.

Good example!

Bottom line is i owe you 20k...are you just going to forgive me what i owe you...pat me on the head and say poor baby, ill just take the 5K what its worth now?

No, i don't think you would. You would have my ass in court looking for your money.

 

[RDD_1210]

Again... the bottom line is that they cannot afford the mortgage they are carrying.

If I loan you $20K to buy a car and 6 months later that car is worth only $5K because of some unforeseen incident that has also affected your ability to pay the $20K note does it make ANY sense for me to say tough shit sell that car and buy one you can afford? I loaned you the money, making it just as much my problem as yours; AND if you sell it now it's only worth $5K and you owe me $20K - minus 6 months payments.. Where is that money coming from?

Likewise , what does bankruptcy cure? It doesn't help me recover my money.

And that is a vehicle, which naturally depreciates. A home on the other hand, well eventually the housing market will bounce back, maybe not to previous levels, but definitely enough to reverse some of the current trends.

I think some of you are very confused about what it means to be conservative.

Huh?

Not surprising this went over your head.

 

[8537]

Thursday, March 22, 2012

While most Americans agree now is not the best time to sell a home, they feel stronger than ever that those struggling to pay their mortgage should sell their home and buy a cheaper one rather than receive help from the government.
69% Say Those Struggling With Mortgage Should Sell, Buy Cheaper Home - Rasmussen Reports™

Almost 70% think logically that DUH.. if you are living in a home you can't afford..
SELL IT!!!!!

It's scarey that 30% think the government should step in to bail out idiots from their stupid decisions.

30% supported TARP?

 

[bripat9643]

Oh Lordy, again, someone with absolutely no knowledge of the current situation in the housing market. Most of the homes that people can no longer afford because of one or both of the homeowners losing their jobs, cannot be sold for what is owed against them. So they will not be buying another home, they will be trying to find something cheap to rent.

The number of people going from homeowners to renters in this market is a sad reflection on who pays the price for the greed of the very wealthy.

The very wealthy didn't force banks to give mortgages to people who couldn't afford them. The very wealth didn't over expand the supply of credit and cause an inflationary bubble in the housing market. Politicians did that.

 

[8537]

It is not that simple.
Many of those people are underwater in their mortgage.
Many of these folks were stupid enough to take out 2nd mortgages to put in a pool, or build a super deck or turn the basement into a very expensive home theater.
They may owe $375k but the value is $280k...where the heck are these people going to get $10,000's to pay the difference? Many of them are only paying interest payments.

Geezus. No wonder this country is screwed.
It's called bankruptcy. You can't pay your debts, you bankrupt. In some states even that isn't necessary. Just send the keys to the lender (jingle mail) and you're done. Most people end up renting as nice houses for less money than they were paying in mortgage payments.
Another example of a wasteful governmental program.

Holy shit your "solution" is bankruptcy. What kind of fake personal responsibility conservative are you?

Screwing over your creditors is the moral choice...as long as you screw them in a legally-recognized manner.

 

[bripat9643]

It is not that simple.
Many of those people are underwater in their mortgage.
Many of these folks were stupid enough to take out 2nd mortgages to put in a pool, or build a super deck or turn the basement into a very expensive home theater.
They may owe $375k but the value is $280k...where the heck are these people going to get $10,000's to pay the difference? Many of them are only paying interest payments.

So what? Why should I be taxed to bail them out?

 

[syrenn]

Again... the bottom line is that they cannot afford the mortgage they are carrying.

If I loan you $20K to buy a car and 6 months later that car is worth only $5K because of some unforeseen incident that has also affected your ability to pay the $20K note does it make ANY sense for me to say tough shit sell that car and buy one you can afford? I loaned you the money, making it just as much my problem as yours; AND if you sell it now it's only worth $5K and you owe me $20K - minus 6 months payments.. Where is that money coming from?

Likewise , what does bankruptcy cure? It doesn't help me recover my money.

And that is a vehicle, which naturally depreciates. A home on the other hand, well eventually the housing market will bounce back, maybe not to previous levels, but definitely enough to reverse some of the current trends.

I think some of you are very confused about what it means to be conservative.

Huh?

Bottom line.... he loves me.

 

[Unknown_Soldier]

So they will not be buying another home, they will be trying to find something cheap to rent.

Oh God NOOOOOOOOOOOOOOOOOOOOOOOOO! We can't have people living within their means. That's CRAZY!!!

Again, you're missing the point. Which is better for the economy as a whole. Subsidizing mortgages until people can recover, or just letting thousands of homes be returned to the banks?

You do realize that in EITHER case the banks are going to be bailed out right? That's a given, it's already happened. So. doesn't it make sense to let people who are at least trying go ahead and keep their homes when the situation is not totally their faults?

 

[bripat9643]

Attitudes like that are why the blue states have a much better credit rating than the red states. You 'Conservatives' preach accountability, but do not practice it. Yep, just run out on your debts. Whether or not you still have a job. Makes perfect sense. To a 'Conservative'.

Hmmmm . . . . the blue states don't have a better credit rating than the red states. Most of the former have huge budget deficits.

 

[8537]

The very wealth didn't over expand the supply of credit.

Wait what? Holy shit man. Buy a book or sumthin.
Who do YOU think over expanded the supply of credit? Poor people? Dentists? Pharmaceutical reps?

 

[Unknown_Soldier]

If I loan you $20K to buy a car and 6 months later that car is worth only $5K because of some unforeseen incident that has also affected your ability to pay the $20K note does it make ANY sense for me to say tough shit sell that car and buy one you can afford? I loaned you the money, making it just as much my problem as yours; AND if you sell it now it's only worth $5K and you owe me $20K - minus 6 months payments.. Where is that money coming from?

Likewise , what does bankruptcy cure? It doesn't help me recover my money.

And that is a vehicle, which naturally depreciates. A home on the other hand, well eventually the housing market will bounce back, maybe not to previous levels, but definitely enough to reverse some of the current trends.

I think some of you are very confused about what it means to be conservative.

Huh?

Bottom line.... he loves me.

Love you? I barely know you. Keep your crap in the flame zone.

 

[Unknown_Soldier]

It is not that simple.
Many of those people are underwater in their mortgage.
Many of these folks were stupid enough to take out 2nd mortgages to put in a pool, or build a super deck or turn the basement into a very expensive home theater.
They may owe $375k but the value is $280k...where the heck are these people going to get $10,000's to pay the difference? Many of them are only paying interest payments.

So what? Why should I be taxed to bail them out?

LOL you've already bailed out the banks, and no doubt will again, especially if all the sudden they are sitting on thousands of empty over valued homes.

 

[syrenn]

Huh?

Bottom line.... he loves me.

Love you? I barely know you. Keep your crap in the flame zone.

poor poor ..... you know. LOL.

 

[eflatminor]

Which is better for the economy as a whole.

End the Fed. Close Fannie and Freddie. End the bailouts. End mortgage subsidies. Repeal the CRA. Stop the damn meddling and let the free market work. That's what is best for the economy as a whole.