Re: OT Sold It!!!!!!!!!!!!

"Miles" <nope@[EMAIL PROTECTED]
> wrote in message 
news:qEKVj.185561$nr1.102716@[EMAIL PROTECTED]
> TBone wrote:
>
>> Once again Miles, you don't seem to see the big picture.  The housing 
>> bubble and its aftermath is the reason for our current bad economy
which 
>> is every bit as bad as the news suggests for the majority of people
>
> BULL.  You seem to be of the type that believes the medias overblown
talk 
> about foreclosures being off the chart.  In reality the foreclosures
deal 
> with subprime loans.  They make up less than 5% of the mortgage market.

Where do you come up with these bull**** numbers?  Maybe a long. long,
long 
time ago that may have been a valid number, it was far from it during the 
housing bubble.  If we are only talking about 5%, why are the banks in
such 
bad shape?

> Next, realize most that are going through foreclosure were perfectly 
> capable of making the payments.  They bailed because it was a
financially 
> good thing for them to do when they ended up owing far more than the
house 
> is worth.  Take a hit on their credit record, put down 20% on a new home

> at far less than their prior one and they come out ahead.

Where do you come up with this complete horse****???  If you really think 
that it works that way or is that simple, then you know far less than even
I 
accuse you of.  If you stop making payments, they will simply begin
hitting 
your credit rating for late and missing payments and begin *****sing fines

against you for late and missed payments.  If you continue not to pay and 
don't pay the fines, then they will take you to court and sue the money
out 
of you.  Now a person could get out of much of that by declaring
bankruptcy 
but that would be hard to do for a person who as you claim, were perfectly

capable of making the payments.  Not to mention that the credit hit along 
with the caution the banks are now taking against risk would prevent them 
from buying anything for the next 20 years, especially since it would be
on 
record that they defaulted on a loan that they could afford.

> The idiots who decided to go with the subprimes and the lenders who sold

> them are to blame and should both take the fall without government
bailing 
> the lenders out.

LOL, and who exactly are the idiots that decided to go with subprimes?  Do

you even know what that means?  Many of these people were conned into 
getting slimy loans that they didn't understand that quickly turned into 
loans that they couldn't afford.  The real cause of the bubble were 
speculators that were buying homes site unseen to hold for a short time
and 
sell at a high profit that drove the prices up to unrealistic levels.  As 
for the lenders taking the fall without help, while I agree with you in 
principle, if that were done, this country would have gone into a full 
depression rather than a recession and you my friend, would probably be
out 
of business.

-- 
If at first you don't succeed,  you're not cut out for skydiving