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

"Miles" <nope@[EMAIL PROTECTED]
> wrote in message 
news:Sy5Wj.186743$nr1.86477@[EMAIL PROTECTED]
> TBone wrote:
>
>> 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.
>
> lol, you have no clue!  The same thing happened in the 1980's when
people 
> took out high interest mortages (Thanks Carter!).  When the rates
dropped 
> under Reagan they bailed, took a hit on their credit and bought a new 
> house.  I did it and so did many others.  Your BS above is from someone 
> who has no clue.

Well Miles, I guess that shows the kind of person that you really are? 
Your 
hand shake, word, or even signature ain't worth ****.  Sure, some did but
it 
was a very different time and many couldn't afford to get out or simply 
refinance at the lower rate.  Things are very different now from what they

were then both in the situation and how things are done.  I would suspect 
that part of it is due to banks getting burned by people like you in the 
80's.  Many of these loans were grouped up and sold as securities and 
defaults cost them a lot of money so there is much more motivation to sue,

especially if they know you have money.

>
> Take you to court?  lol.  Guess this whole foreclosure thing really is 
> bogus since these homeowners are simply being sued instead.

LOL, what makes you think that they don't do both.  They can and do
forclose 
on the house and then sue for the difference between what you owe and what

the house is wirth as well as payment of *****sed fines.

>
>> 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.
>
> Many of these people took a subprime not because of bad credit or low 
> income.  They took it because it allowed them to buy a far larger home 
> than they could otherwise.  Now they are facing reality from their own 
> stupid decision.  Yes, I blame the lenders too for conning them into 
> buying more than they could afford.

Actually, many of them took these loans to buy a home, period.  Sure,
there 
were idiots that bought way more than they could afford but I blame the 
banks completely for that as well as they knew most couldn't afford to
keep 
up these payments and fudged the figures to make these people qualify. 
The 
ones that I have no simpathy for are the specualtors as they knew what
they 
were doing and the risks involved.

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