reply to post by Bugman82
Read your O.P.
Didn't need to read your graphs.
You missed a huge point, intentionally or not, I'm not sure.
I finally lost my home a year ago, after fighting (negotiating) for 2 years.
We were negotiating for a mortgage modification.
My wife and I re-financed into an ARM years ago.
When the payments adjusted, we were screwed by our own decision.
We effed up. Period.
My wife, child, and I paid for our bad decision through the loss of our home.
On the flip side, however:
The bank also made a bad decision, by deciding to invest in us, as well as millions of others just like us.
They never made a single offer of modification.
They didn't have to, because the whole time they were initiating foreclosure on us, they were receiving billions of dollars in bailouts, funded by
yours truly, as well as every other taxpayer in America.
They were to big to fail, I was not.
Can you imagine how quickly the bank would have negotiated with us and millions of others just like us if their actual existence depended on our
Instead, the bad decisions the banks made were bundled and sold to the taxpayer,
and not a single bank faced the repercussions of the bad decisions they made.
They chose to make poor financial choices, as did I.
I paid for my poor choices.
They did not.
edit on 23-4-2012 by Oaktree because: (no reason given)