Re: Can't pay? Just walk away.

Article View: alt.consumers

Article #88

#88

From: Foobar
Date: Mon, 11 Feb 2008 18:24

23 lines
2763 bytes

On Feb 7, 1:22 pm, PaPaPeng <PaPaP...@yahoo.com> wrote:
> On Wed, 06 Feb 2008 19:29:18 -0600, Snowbound
>
> <loosebow...@ixnay.invalid> wrote:
> >Just don't declare bankruptcy, like someone in real financial trouble
> >might consider. If you declare bankruptcy, like some joker who lost
> >everything to unforseen disaster or illness, you are putting yourself at
> >the mercy of courts and banks (who make today's bankruptcy laws). If you
> >just walk away from a massivemortgageYOU freely chose, you get off
> >scott free, without any substantial penalty! After all, what
> >asset-draining cancer or chronic workplace injury could POSSIBLY be
> >worse than losing a home you couldn't afford in the first place?  
>
> This sounds good.  The most logical part is the lender who made that
> unjustifiably risky loan to Mr. J Doe will lilkely disappear as a
> corporate entity before they catch up with Mr. Doe who walked away
> from his foreclosed house.  Whichever new company that takes over the
> property will likely find it impossible or just too costly to clear
> the paperwork necessary to track down John Doe the walker and make him
> pay.  There will be a few millions of such foreclosures that willtrashany industrywide attempt to clean them up.

Which is a good thing?

Technical Details

Message-ID: <50486ccf-2794-4d31-b8d9-c447d8396c16@v67g2000hse.googlegroups.com>

Path: arc1-ca.pugleaf.net!g2news1.google.com!postnews.google.com!v67g2000hse.googlegroups.com!not-for-mail

References: <13qknnehtpapr41@news.supernews.com> <s2jmq39q2j5i4n40j074muaf93tuuv4gbu@4ax.com>

Show Full Headers

Complete Article Headers

X-Google-Thread: 10f73f,5a07413ffe1cd66b
X-Google-Thread: 106595,5a07413ffe1cd66b
X-Google-Thread: 107518,5a07413ffe1cd66b
X-Google-Thread: f6c48,5a07413ffe1cd66b
X-Google-Attributes: gid10f73f,gid106595,gid107518,gidf6c48,public,usenet
X-Google-Language: ENGLISH,ASCII
Path: arc1-ca.pugleaf.net!g2news1.google.com!postnews.google.com!v67g2000hse.googlegroups.com!not-for-mail
From: Foobar <bamberbert@gmail.com>
Newsgroups: alt.consumers, ba.consumers, misc.consumers, misc.consumers.frugal-living
Subject: Re: Can't pay? Just walk away.
Date: Mon, 11 Feb 2008 10:24:46 -0800 (PST)
Organization: http://groups.google.com
Lines: 23
Message-ID: <50486ccf-2794-4d31-b8d9-c447d8396c16@v67g2000hse.googlegroups.com>
References: <13qknnehtpapr41@news.supernews.com> <s2jmq39q2j5i4n40j074muaf93tuuv4gbu@4ax.com>
NNTP-Posting-Host: 75.177.179.94
Mime-Version: 1.0
Content-Type: text/plain; charset=ISO-8859-1
Content-Transfer-Encoding: quoted-printable
X-Trace: posting.google.com 1202754286 30590 127.0.0.1 (11 Feb 2008 18:24:46 GMT)
X-Complaints-To: groups-abuse@google.com
NNTP-Posting-Date: Mon, 11 Feb 2008 18:24:46 +0000 (UTC)
Complaints-To: groups-abuse@google.com
Injection-Info: v67g2000hse.googlegroups.com; posting-host=75.177.179.94; 
 posting-account=6UJdxgoAAACLJg6AJ9pkGKWQh5r3y74k
User-Agent: G2/1.0
X-HTTP-UserAgent: Mozilla/4.0 (compatible; MSIE 6.0; Windows NT 5.0; 
 {7F655527-C3D0-AED5-8306-852E529205ED}),gzip(gfe),gzip(gfe)

Reply to Parent Message