The 25-Year 'Foreclosure From Hell'

[sigsilly]

Too bad they haven 't put her out in the street.
She owes the money and is playing games to get out of paying what she owes. If the banks let her get by with it, then they deserve what has happened.
I'd be firing some bankers if I had part interest in the organization that owned the loan.

 

[striker754]

Wow, judging by many of the comments, I guess our society no longer cares about broken promises or lost integrity. I'll be sure to refer other forum members to this thread when deals in the classified section fall through.

Just remember, when you sign a contract you are promising to abide by the terms and conditions. Nothing in life is free. A deal is a deal. When you borrow money to buy a car, house, motorcycle, etc, just remember, nobody forced you to borrow the money. You willingly chose to go into debt to make an unnecessary purchase. If you don't have the money, or don't intend to pay it back, why do you deserve to keep it?

If you don't like the amount of interest a bank or creditor charges over the life of a loan, then don't borrow money. That's the problem with our country....entitlement. Everyone is not entitled to a home, car, motorcycle, big screen, and/or an I-pod. If you saddle yourself with debt, you will forever be a slave to the system.

And that same contract you speak of lays out what happens when the borrower defaults. The lender is made whole in the eyes of the law through seizing the property and in some cases can get more in the case of recourse loans. Any morality arguments for this are simply ********. The contract says if person x does not do this person y gets paid back in this way. No morality need be involved. If it is in the person's best interest to walk away from a loan then they should do it. The lender is ultimately responsible for sound underwriting and down payment guidelines to protect themselves. Plus they always have the option to deny extending credit.

The banks have ****ed this country incredibly hard and continue to do so today, yet when a woman uses entirely legal and legitimate means to prevent her foreclosure, Americans rage. The bankers and government goons love this ****. Just like wikileaks. The citizens should be pissed at the things their government is doing and yet somehow the media and the government have been able to "rally" the sheep against Assange and wikileaks.

I don't know whether it is because most of them are paying a mortgage too and can't stand to see someone not pay. Perhaps they can relate to the mortgage and just can't relate to the amount of money the banks are stealing from the American people. Either way it is sad that that anger is so so misdirected.

 

[streak]

It's **** like this that causes the rest of us to pay higher interest rates. So all of you with a 700 credit score and 17% APR on your credit cards should write this lady a big fat thank you note.

 

[Pepper46]

What she is doing is using the legal system against those who lobbied for and created those laws.
Doesn't make it right, just makes it so.

 

[ruckerduck]

I tend to agree with striker. They have been using the system to screw us for a LONG time. Saying that, I still pay my mortgage and honor my debts. However, if I could just figure a way to not pay my taxes......