CA cities consider taking over .....

[tenthertoo]

... in the latest panic reaction to upside down mortgages.

I've never understood this "national tragedy". What the hey it happens every time you buy a car.

If somebody buys a house for some reason other than making a home to live in they are engaging in speculation. You speculate you most often lose. SHEESH!

 

[Mr.Nick]

I predict that the government will just start seizing homes - then turn them into "affordable living facilities" for gangbangers and bums...

 

[tenthertoo]

you are probably right on the take over - but I'd think they'd just let the "speculators" keep them

 

[tenthertoo]

Moved from politics?? What the hey - this is a political issue for sure.

 

[Katzndogz]

The specific targets will be those who are current on their mortgage payments. Those too stubborn to walk away and default.

 

[tenthertoo]

The specific targets will be those who are current on their mortgage payments. Those too stubborn to walk away and default.

Those are the folks who either: bought for the "right" reason ( a house to make a home in) and/or good old fashioned Americans who keep their word. In either case they made a deal that seemed right at the time and like sometimes happens they were incorrect. Life's like that.