Do not pay your house note!

woodwardboy · November-26-10, 05:30 PM

Looks like Bank of America/Countrywide have "issues." It's amazing that BOA would actually bring in a company representative, Linda DeMartini, in court to give testimony then spill her guts

This is just the begining peeps. If the banks screwed up on the securitization then we walk.

http://www.cnbc.com/id/40317149

http://news.firedoglake.com/2010/11/...s-in-question/

DC48080 · November-26-10, 08:09 PM

Uh, if you borrowed the money, pay it back. An error or omission on their part does not absolve you of the legal [[or moral) responsibility to repay the loan.

Put simply, it is wrong to take advantage of such a situation for personal gain.

woodwardboy · November-26-10, 08:20 PM

Originally Posted by DC48080

Uh, if you borrowed the money, pay it back. An error or omission on their part does not absolve you of the legal [[or moral) responsibility to repay the loan.

Put simply, it is wrong to take advantage of such a situation for personal gain.

It's called a business decision. Nothing personal here. If there is a way to reduce costs legally then do it. Corporations do it all day long and so should individuals.

Keep your money, screw the banks!

DC48080 · November-26-10, 08:23 PM

Originally Posted by woodwardboy

It's called a business decision. Nothing personal here. If there is a way to reduce costs legally then do it. Corporations do it all day long and so should individuals.

Keep your money, screw the banks!

You borrowed the money, pay it back. Otherwise file bankruptcy, discharge the debt, and give the house back to the lender. Of course, good luck getting any lender to give you a mortgage, car loan or credit card for the next ten years. At a decent interest rate anyway.

**oldredfordette** · November-26-10, 08:25 PM

Bend over and pay the bank, woodwardboy. The teabaggers love to obey.

DC48080 · November-26-10, 08:35 PM

Originally Posted by oldredfordette

Bend over and pay the bank, woodwardboy. The teabaggers love to obey.

And the radical screeming libtards love to scheme a way to get
something for nothing and make other people pay for it.

woodwardboy · November-26-10, 09:00 PM

Originally Posted by DC48080

And the radical screeming libtards love to scheme a way to get
something for nothing and make other people pay for it.

And corporations pay for their stuff? Please.... Detroit is filled with abandoned buidlings and toxic wastelands left for the public to clean up.

DC48080 · November-26-10, 09:04 PM

Originally Posted by oldredfordette

The teabaggers love to obey.

I know that every time you, Oldredfordette, type out "teabagger" you smirk and laugh uncontrollably and think you're so witty. But you should know that referring to a group of people by using a vulgar nickname for a sex act is the provenance of the uneducated and ignorant. In short, it is childish and shows great immaturity.

And for the record, I am not a member of the Tea Party and do not share most of their beliefs.

DC48080 · November-26-10, 09:10 PM

Originally Posted by woodwardboy

And corporations pay for their stuff? Please.... Detroit is filled with abandoned buidlings and toxic wastelands left for the public to clean up.

That is non-sequitur. The vast majority of corporations do pay for the goods and services they receive. Anyhow, what does that have to do with you welching on your mortgage?

woodwardboy · November-26-10, 09:15 PM

Originally Posted by DC48080

That is non-sequitur. The vast majority of corporations do pay for the goods and services they receive. Anyhow, what does that have to do with you welching on your mortgage?

A mortgage is a business matter, not a "personal" issue.

If individuals thought and acted like a business, most Americans would stop paying on a declining investment, namely their mortgages.

DC48080 · November-26-10, 09:26 PM

Originally Posted by woodwardboy

A mortgage is a business matter, not a "personal" issue.

If individuals thought and acted like a business, most Americans would stop paying on a declining investment, namely their mortgages.

And what do you think that would do to the economy? Your car loses value the moment you drive off the lot. Should you welch on that loan too?

When you sign a promissory note you are agreeing to repay the debt. Do the honorable thing and honor your committment.

If you loaned me $100 and I decided not to repay you just because, how would you feel about that?

woodwardboy · November-26-10, 09:41 PM

Originally Posted by DC48080

And what do you think that would do to the economy? Your car loses value the moment you drive off the lot. Should you welch on that loan too?

When you sign a promissory note you are agreeing to repay the debt. Do the honorable thing and honor your committment.

If you loaned me $100 and I decided not to repay you just because, how would you feel about that?

I would pay you back if you were my friend or relative. However, the bank is a corporation and I have no special feelings towards it. Corporations file bankruptcy all the time and leave their mess to the taxpayers. I just dont buy the crap that individuals must feel "guilty" to pay their debts and corporations simply walk away and start fresh somewhere else.

**Jimaz** · November-26-10, 09:53 PM

Please. Have a heart. Think about the predatory lenders' starving whores. Who else could feed them but the victims of predatory lenders?

Er, um. I guess that line of reasoning doesn't work very well. LOL!

**gazhekwe** · November-26-10, 10:03 PM

The Death of Integrity in America

Don Koenig 2008

Once upon a time in America, a man's word was his bond, most people had Integrity. People did not even need contracts; a handshake was reliable. Today, even if you have a written contract you have little guarantee that those who entered into the contract will even attempt to fulfill it. About one half of Americans simply cannot be trusted anymore.

I have been observing this trend toward a nation of people who lack integrity for quite some time. I guess you might blame it on postmodern thought where morals and truth are said to be relative. Nonetheless, hiding behind the philosophy of relativism does not mean that these people do not actually know the difference between good and evil. They really do, they simply choose to be selfish liars.

The root causes of the lack of integrity in America appears to be selfishness and having no empathy or love for others. Many people just no longer care what their own actions do to others. It is all about "me" and that is why this is called the "me generation".

Some might think the lack of integrity is limited to mostly the younger generation but that is not true. Lack of Integrity is found across the board. It seems that all age groups have now become infected with this selfishness through media brainwashing, bad example and permissiveness where there is very little negative consequence for doing what they know is wrong.

...

http://www.thepropheticyears.com/com...in_America.htm

woodwardboy · November-26-10, 10:26 PM

It's called making money. Corporations make money first, integrity second. We saw this in General Motors. How much is that stock worth from 1949? 1969? 1979? 1999? $0.
Kmart stock? worthless. Yet we see the Kmart headquarters vacant in Troy. The common stockholders got nothing. Preaching "intregrity" to the individual while corporate America steals you blind is laughable.
You want intregrity? Make the pension funds clean up all these abandoned sites that they owe shares on paper in metro Detroit.

DC48080 · November-26-10, 10:31 PM

So, assuming what you say is true [[and that is a monumental stretch) two wrongs make a right?

**gazhekwe** · November-26-10, 10:41 PM

I think somebody stole something. Why shouldn't I do the same? TskTsk.

**Jimaz** · November-26-10, 10:48 PM

The usurious bastards lost my business in 1980 when the Depository Institutions Deregulation and Monetary Control Act was passed.

Allowed institutions to charge any interest rates they choose.

Exploitation that blatant will never see my support.

woodwardboy · November-26-10, 11:12 PM

well.. Im 3 years into not paying on my mortgage. I have sucessfully fought off the bank. After 2 sheriff sale attempts, the bank dropped both, the bank now is refusing to pay the taxes on my house. I wasnt born during the great land give away during the 1800s, but Im going to get my small piece. If the bank wants this house.. they are going to have fight for it.

DC48080 · November-26-10, 11:47 PM

Originally Posted by woodwardboy

well.. Im 3 years into not paying on my mortgage. I have sucessfully fought off the bank. After 2 sheriff sale attempts, the bank dropped both, the bank now is refusing to pay the taxes on my house. I wasnt born during the great land give away during the 1800s, but Im going to get my small piece. If the bank wants this house.. they are going to have fight for it.

3 years without paying huh? Shameful! So, you want something for nothing. That's just great; cheat, steal, mooch. What a great person you must be.

woodwardboy · November-26-10, 11:51 PM

Originally Posted by DC48080

3 years without paying huh? Shameful! So, you want something for nothing. That's just great; cheat, steal, mooch. What a great person you must be.

That's what this country was founded on. The railroads paid nothing for their land.

**Meddle** · November-26-10, 11:57 PM

You're not even making sense. You're advocating doing the very thing that has caused so many problems, people taking loans and defaulting on them. Basically you're committing fraud. The bit with the car loan can get you arrested for vehicle theft.

woodwardboy · November-27-10, 12:05 AM

Individuals should not shoulder the blame for the drop in real estate values. People stopped paying on their mortgages because they lost jobs. People will pay if they have jobs. Corporate America chose to take jobs away to make more money overseas. This is pure greed. I see no reason then why individual Americans pay back corporate America by not paying on their mortgages.
If corporate America believes in greed, so then do individual Americans!

**partyhardy** · November-27-10, 02:20 AM

Originally Posted by DC48080

3 years without paying huh? Shameful! So, you want something for nothing. That's just great; cheat, steal, mooch. What a great person you must be.

Wow, sounds like a good marketing slogan for the GOP.

**partyhardy** · November-27-10, 02:35 AM

Originally Posted by gazhekwe

The Death of Integrity in America

Don Koenig 2008

Once upon a time in America, a man's word was his bond, most people had Integrity. People did not even need contracts; a handshake was reliable. Today, even if you have a written contract you have little guarantee that those who entered into the contract will even attempt to fulfill it. About one half of Americans simply cannot be trusted anymore.

I have been observing this trend toward a nation of people who lack integrity for quite some time. I guess you might blame it on postmodern thought where morals and truth are said to be relative. Nonetheless, hiding behind the philosophy of relativism does not mean that these people do not actually know the difference between good and evil. They really do, they simply choose to be selfish liars.

The root causes of the lack of integrity in America appears to be selfishness and having no empathy or love for others. Many people just no longer care what their own actions do to others. It is all about "me" and that is why this is called the "me generation".

Some might think the lack of integrity is limited to mostly the younger generation but that is not true. Lack of Integrity is found across the board. It seems that all age groups have now become infected with this selfishness through media brainwashing, bad example and permissiveness where there is very little negative consequence for doing what they know is wrong.

...

http://www.thepropheticyears.com/com...in_America.htm

Well, not including the evolutionary reasoning behind human selfishness, it's not as easy as saying people are not living up to their agreements, many people had no choice. After the financial industry pretty much fucked up the entire economy, people were losing their jobs left and right. It becomes a difference of "should I pay my mortgage or buy food for my family." I mean, what decision would you make?

As for the sentiment, I believe Americans are getting sick of being shit on. We keep getting thrown under the rug to benefit the unscrupulous few [[i.e. mortgage industry). A person can only be shit on so many times before they get fed up and do whatever it takes to survive rather than be honest.