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Originally posted by SkepticOverlord
reply to post by Wifibrains
Another person in debt looking to shirk his responsibilities.
More in a response to this video in this post in another thread.
Why is financial irresponsibility being applauded?
Yes, but it is the mortgage industries job to not loan to people who can't afford to pay. Any mortgage company that would lend 350k to someone making 50k a year has to know that person can't possibly pay that loan. No?
Originally posted by DAVID64
Banks will find a way to get what they want, even if it takes force. I am a firm believer in paying your debts, but some of the big banks have the courts in their back pocket and fighting both with a lawyer costs serious money. Always take the time to read the fine print and have a lawyer look over anything you don't understand. I ran into an unbelievable catch when we bought our house. In the fine print, it said that even after the loan was paid we had to go through the bank if we ever sold it, giving them the right to refinance the same house to a different person. I had already laid a check for the down payment on the table when I read that. I ask the loan officer if that was what it meant. She said yes, that's basically what it says. Without saying another word, I picked up the check, got my coat and we started to walk out. [thought the real estate agent was going to have a seizure] To make a long story short [ too late ] we got that excluded in the new contract. Seems they had a change of heart when that check was going out the door. Imagine that
If those unable to keep up with their mortgages are allowed to keep their homes, there would never be any incentive for people to live within their means and take on only those financial committments they can fulfil.
Originally posted by Wifibrains
I understand and accept what you say there, but we really do need to look at the bigger picture. The system is not rigid. It's sways and flexes all over the place, up n down, dip, double did, and so on. When these times of economic fluctuations come about the system should account for that. We do not live in a perfect world, and the system is far from perfect and is never really settled, yet the people are expected to bide by these contracts written in promising times, to the T.
It's so unhormonious. It could so easily be orchestrated like a symphony, but instead it's like organised chaos,
Originally posted by andy06shake
Well buddy you know what they say about people in glass houses?
Just remember it could happen to anyone of us!
Financial circumstances change and the banks know this, they cause them to and use this for there heinous nefarious accumulation of power over us!
Originally posted by andy06shake
reply to post by Observor
Buddy i dont want to thank the Bankers, I want to hang the Bankers!
To my knowledge i have never in anyway, shape or form enabled banks to do as they please.
Most of us have had no hand in the creation of "There" system or the system we were born into!
Banks..........Banks aaaaare bad! LoL