Homeless people create jobs.

Do any of them actually want to win this thing?

"Let it run its course, and hit the bottom, allow investors to buy up homes, put renters in them, fix the homes up, and let it turn around and come back up."

I am shocked that a Republican is suggesting letting the lower classes suffer so the wealthy can profit.

They bought their houses knowing what they were getting into. I say, let 'em crash.

What's the alternative? "Let them squat"?

I agree we don't need another couple million houses on the market, but if they haven't paid their mortgage in a year and the mortgageholder wants them out, they should GTFO.

He's locked up the heartless banker vote, that's for sure

/woot, green light

Otherwise know as 'I Got Mine, Fark You' chapter 1,358.

Spoiler alert : all the chapters say exactly the same thing.

Debeo Summa Credo: What's the alternative? "Let them squat"?

I agree we don't need another couple million houses on the market, but if they haven't paid their mortgage in a year and the mortgageholder wants them out, they should GTFO.

A year? Try 3 years. I do QC for foreclosures and the only loans that I've seen across my desk with the last paid date within a year of the foreclosure date are investment houses or vacation houses. Vast majority of owner occupied homes that are being foreclosed today haven't had a payment in 24 to 36 months.

He needs to grow a moustache.

So he can twirl it when he says stuff like this.

Yeah, we need investors to quickly buy up everything real cheap. Then investors will charge the renters very low rents, no chance at all investors will want to and perhaps even collude through associations to fark over renters.

Face it libtards, some people just aren't meant to be homeowners.

I hear there are nice hoovervilles occupying parks in desirable cities. Perhaps the homeless can go there.

Debeo Summa Credo: What's the alternative? "Let them squat"?

How about provide alternative financing and work-outs? Forebearance? Refinincing?

Seriously, is "foreclose" really the only possiblity you can think of?

WiredMann: Face it libtards, some people just aren't meant to be homeowners.

THIS!!! Look I feel people's pain but no one had a gun to their head when they got a house. So the market tanked, when you invest in property there is always a chance that this is going to happen. It's called life. Take the loss, declare bankruptcy if you have to move on and rebuild.

Government can't bail out everyone. I am sure if most people had this attitude they would likely be well on the road to getting back on their feet instead of going woe is me.

/Going to the bank this week for a debt consolidation loan on a credit card.
//Hey I did it, now I get to climb back out of the hole.

bootman: Yeah, we need investors to quickly buy up everything real cheap. Then investors will charge the renters very low rents, no chance at all investors will want to and perhaps even collude through associations to fark over renters.

Not likely. There is so damn much inventory right now rents are flay/decreasing for the foreseeable future (where i live, at least). If he made this comment in Nevada, then his an even bigger tool than I thought. Check out Las Vegas and Reno rentals on Craigslist if you want to see what a rental investor's apocalypse looks like.

That should resonate well with the common person.

Goimir: JusticeandIndependence: I think your view of wealthy is limited. I can and have purchased a second home, rented it. I plan to sell it. I don't consider myself rich at all. Combined my wife and I make less than 200k

9/10

really a 9.9/10

he is the 99%

I have known several Mormons in my life and not one of them was this mean. Usually they are really nice and sweet people.

Goimir: Yep. The banks will cooperate by not loaning money to anyone who doesn't already have it, even using protests as an excuse.

If a property was owner occupied and then foreclosed on then lending to another owner occupier is too risky. Better to only consider investors for financing on such properties.

JusticeandIndependence: ddam: A year? Try 3 years. I do QC for foreclosures and the only loans that I've seen across my desk with the last paid date within a year of the foreclosure date are investment houses or vacation houses. Vast majority of owner occupied homes that are being foreclosed today haven't had a payment in 24 to 36 months.

This is so weird to me. If you bought a car and didn't pay for it, the bank would come get it. If you rented a hotel room and didn't pay, why would the hotel let you stay?

It sucks, but so does a lot of things in life.

The bank losses a lot more money if they foreclose rather than letting the home owner occupy the house for a while hoping to get finances back in order. Foreclosures are being done a lot quicker on investment/vacation properties because those tend to be vacant while in default and they quickly deteriorate so much that they cannot be sold without thousands in repairs.

Your right, lets just give the homes away! Its brilliant!

Angry Drunk Bureaucrat: They bought their houses knowing what they were getting into. I say, let 'em crash.

Close... anyone who:

1. refied to take money out of the house for not medical related items.

2. bought a home on an ARM (or other "non standard" home loan, e.g. interest only loan (not sure if that's considered an ARM loan or not)).

3. bought a home using a subprime loan.

4. bought a home outside of the 3.5:1 (or somewhere around there) ratio of home cost to income.

5. didn't put at least a 10% down payment.

6. installed the following two upgrades: a. granite counter tops; b. stainless steel appliances.

if the tards fall in to one or more of the above categories, then yep fark em because the only thing they should be rewarded for is:




/the sooner obama stops trying to artificially inflate housing prices the better.

//oh, and he should be added to the potato counter list

Representative of the unwashed masses: WiredMann: Face it libtards, some people just aren't meant to be homeowners.

THIS!!! Look I feel people's pain but no one had a gun to their head when they got a house. So the market tanked, when you invest in property there is always a chance that this is going to happen. It's called life. Take the loss, declare bankruptcy if you have to move on and rebuild.

I agree with this statement because I, too, believe the home buyers were given all of the information and were not deceived in any way.

ddam: A year? Try 3 years. I do QC for foreclosures and the only loans that I've seen across my desk with the last paid date within a year of the foreclosure date are investment houses or vacation houses. Vast majority of owner occupied homes that are being foreclosed today haven't had a payment in 24 to 36 months.

That's got to be a pretty easy job. Signing off without even bothering to look at the documents can't take much time at all.

JusticeandIndependence:
I had to start over financially twice in my lifetime. It happens. I've learned from it.

You may not be wealthy or rich, but you do sound privileged.

You've had no help from anyone at all, ever? You started over (twice) and recovered all by yourself, right?

It's all part of the Ownership Society.

The US economy?
Fark it.

Let them eat pizza.

I alone am best: Your right, lets just give the homes away! Its brilliant!

Fark that, let's burn em down. That way the dirty hippies and the banks both lose. This is as close to a bipartisan solution as I am prepared to offer.

pudding7: Rip off the band-aid. Get those houses out into the market so we can finally see how bad things really are.

Uh...I don't think you know how band-aids work.

JusticeandIndependence: Goimir: JusticeandIndependence: I think your view of wealthy is limited. I can and have purchased a second home, rented it. I plan to sell it. I don't consider myself rich at all. Combined my wife and I make less than 200k

9/10

Not intended. Whatever you think about the housing "crisis" America tried to bail their way out instead of just taking the loss and starting over.

I had to start over financially twice in my lifetime. It happens. I've learned from it.

JusticeandIndependence: Goimir: JusticeandIndependence: I think your view of wealthy is limited. I can and have purchased a second home, rented it. I plan to sell it. I don't consider myself rich at all. Combined my wife and I make less than 200k

9/10

Not intended. Whatever you think about the housing "crisis" America tried to bail their way out instead of just taking the loss and starting over.

I had to start over financially twice in my lifetime. It happens. I've learned from it.

If each of you make $75k or more, you're each in the top 12% of income earners in this country. Owning a second home doesn't exactly make you Mr. Average American.

JusticeandIndependence: That's not teaching any kind of lesson to the person that "owns" the home and doesn't pay.

And here is where you reveal yourself to be an economic illiterate and moral cretin. You have no interest in improving an anemic economy, which is causing misery to millions, only a desire to moralize and satisfy your pathetic ego.

Sometimes making sure people "learned their lesson" is much less important than the overall health of the economy.