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And this bailout....I thought the whole point of this bailout was to help the banks help the people stay in our houses. Obviously not. The bailout was to help the banks get richer.
Originally posted by nikiano
But then I realized... IT'S THEIR FAULT THAT MY HOUSE HAS DEPRECIATED IN VALUE BY HALF....not my fault.
Originally posted by elevatedone
For whatever reason, now you want the bank to lower the amount you are to pay back.
Originally posted by defcon5
Originally posted by nikiano
But then I realized... IT'S THEIR FAULT THAT MY HOUSE HAS DEPRECIATED IN VALUE BY HALF....not my fault.
How is it the banks fault that your house depreciated? Why is it their obligation to take a loss on a poor business investment that you made? Did someone from bank of America show up and force you to buy that house?
Originally posted by nikiano
Originally posted by elevatedone
For whatever reason, now you want the bank to lower the amount you are to pay back.
For whatever reason? How about for the reason that my house is now worth HALF of what it was in 2005, when I bought it?? And my realtor is telling me it will NEVER be worth what I paid for it.
I would call that strang and extenuating circumstances.
Originally posted by rogerstigers
Let me ask you this... did you buy your house as an investment or as a place to live and raise a family? If you bought it as an investment you just happen to live in, then by all means walk away from a bad investment. What are they going to do? Mark your credit as bad, foreclose? Big flipping deal. People should be digging themselves out of credit anyway and never going back.
If you bought your house as a place to live in and raise a family then your house has a net market value of $0 until you decide to sell. In that sense you are just paying rent until you want to sell or you paid it off. If you can pay the mortgage, stay put and forget about the theoretical value of your home.