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View Diary: Hallelujah! THIS is the plan to adopt (67 comments)

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  •  that's too far the other way... (4+ / 0-)
    Recommended by:
    irate, Lovo, TL Eclipse, HeadnHeart

    I know of one fellow who bought a house. Nothing down. Never made a single payment on it. Borrowed additional money on the house to buy a motorcycle. Kept the motorcycle. Abandoned the house. Should he be given a free house?

    •  You don't really "know" a fellow (2+ / 0-)
      Recommended by:
      Jimdotz, political junquie

      do you?  You're just giving us an anecdote and stating it as though it were a real experience, right?

      Come on.

      •  I don't know this individual personally.. (0+ / 0-)

        but my nephew does. My nephew bought some land at auction that included a house. He sold the house and kept some land that adjoined his farm because he couldn't afford it all at the time. A few years later, he heard that the guy who bought the house was about to lose it. Thinking he could now buy it at a bargain, he asked this guy how to contact the bank holding the mortgage. The guy said he didn't know how to contact the bank. If he had ben making mortgage payments, wouldn't he know how to contact the bank holding the mortgage? My nephew also related the part about the motorcycle. I'm pretty sure that's true too.

      •  I don't know a fellow, either, (1+ / 0-)
        Recommended by:

        but the fact remains that many people lived off the equity that they kept pulling out while things were good.

        People needing assistance with a bad mortgage should have to show that they indeed HAVE a bad mortgage, and didn't just wheel/deal in the bubble.

        Join us in the Grieving Room on Monday evenings to discuss mourning and loss.

        by Dem in the heart of Texas on Wed Oct 01, 2008 at 05:05:30 AM PDT

        [ Parent ]

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