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HEAREP
218 Posts |
 Posted - 03/04/2008 : 07:34:11 AM
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With the new laws, if someone walks away from their house they don't get a 1099 on the difference between amount owed and sales price and they don't have to pay it back. Does anyone know if that is the same on a second? If it is, what would prevent all of these 100%+ seconds from walking. Would only hurt credit for a few years.
This is just water cooler talk this morning. |
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Scrooge McDuck
8733 Posts |
Posted - 03/04/2008 : 07:41:28 AM
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its just a way for "the man" to reset the cycle. they dont really care. they made their money on the way up... trilions of dollars. now they will let it all vanish on the backs of the masses, only to promote the cycle again, and do it all over again 8-10 years from now.
this has been going on for ever. |
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ritabradley01
3150 Posts |
Posted - 03/04/2008 : 09:10:27 AM
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| I agree with the Duck. The boom we just went through was clearly a well thought out plan by bankers, government leaders and others in power and "in the know". I used to rack my brains trying to figure out why the abuses and fraud were allowed to run rampant and it finally occurred to me one day that the country just needed another boom to keep the economy going. That's how it works. It's up to us poor slobs to figure out how to survive in this type of economy. And to pass the information on to family and friends. |
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kmikkola
794 Posts |
Posted - 03/04/2008 : 10:05:30 AM
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quote:
Originally posted by Scrooge McDuck
its just a way for "the man" to reset the cycle. they dont really care. they made their money on the way up... trilions of dollars. now they will let it all vanish on the backs of the masses, only to promote the cycle again, and do it all over again 8-10 years from now.
this has been going on for ever.
And will we be ready in 8-10 years???? |
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