The American Dream: Walking from your mortgage obligation
Started by Riversider
about 16 years ago
Posts: 13572
Member since: Apr 2009
Discussion about
http://online.wsj.com/article/SB126040517376983621.html?mod=WSJ_hpp_MIDDLETopStories (CLEARLY STRATEGIC DEFAULTS ARE HERE) PALMDALE, Calif. -- Schoolteacher Shana Richey misses the playroom she decorated with Glamour Girl decals for her daughters. Fireman Jay Fernandez misses the custom putting green he installed in his backyard. But ever since they quit paying their mortgages and walked away from... [more]
http://online.wsj.com/article/SB126040517376983621.html?mod=WSJ_hpp_MIDDLETopStories
(CLEARLY STRATEGIC DEFAULTS ARE HERE)
PALMDALE, Calif. -- Schoolteacher Shana Richey misses the playroom she decorated with Glamour Girl decals for her daughters. Fireman Jay Fernandez misses the custom putting green he installed in his backyard.
But ever since they quit paying their mortgages and walked away from their homes, they've discovered that giving up on the American dream has its benefits.
Both now live on the 3100 block of Club Rancho Drive in Palmdale, where a terrible housing market lets them rent luxurious homes -- one with a pool for the kids, the other with a golf-course view -- for a fraction of their former monthly payments.
It's just a better life. It really is," says Ms. Richey. Before defaulting on her mortgage, she owed about $230,000 more than the home was worth.
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Some are leaving behind their homes and mortgages right away, while others are simply halting payments until the bank kicks them out. That's freeing up cash to use in other ways.
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Response by apt23
about 16 years ago
Posts: 2041
Member since: Jul 2009
Hugh G. Rection: Huge, that sounds like a drag queen name. Are you of the drag queen persuasion? If not, it is the same sense of humor though not quite as subtle -- which is really saying something if you are a drag queen. My favorite is a 6'6" behemoth who is built like a line backer and she calls herself Flotilla DeBarge. I love her. She is fabulous.
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Response by cherrywood
about 16 years ago
Posts: 273
Member since: Feb 2008
HG: An idiot? A babbler? Talk about a case of the pot calling the kettle black. Your ignorant rant on a subject about which you know less than nothing doesn't even rise to the level of idiocy.
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Response by jimstreeteasy
about 16 years ago
Posts: 1967
Member since: Oct 2008
Apt 23, you have the idea that farm subsidies are about helping quaint farmers, but it's really not like that. That is a minor element of the whole thing. It is market distorting, and zillions of dollars go to agro-businesses that are hardly some nice family tending cows. In addition to the repugnant subsidies to agro-industrial companies, two other major issues about farm subsidies have gained prominence in recent years: ONE- farm subsidies in wealthy countries have the perverse impact of making developing country farmers unable to compete, in one area where there technology and manpower should allow them to complete, which led the ECONOMIST magazine to call U,S, farm subsidies "evil"; TWO various subsidies have distorted food production into more corn and high fructose corn syrup, a health concern.
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Response by jimstreeteasy
about 16 years ago
Posts: 1967
Member since: Oct 2008
67, here is the sentence:
They read the word "skinny", and then there followed an evening of acrimonious exegesis.
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Response by jimstreeteasy
about 16 years ago
Posts: 1967
Member since: Oct 2008
what happened to the link 67 had posted of his member?...more se censorship?
Hugh G. Rection: Huge, that sounds like a drag queen name. Are you of the drag queen persuasion? If not, it is the same sense of humor though not quite as subtle -- which is really saying something if you are a drag queen. My favorite is a 6'6" behemoth who is built like a line backer and she calls herself Flotilla DeBarge. I love her. She is fabulous.
HG: An idiot? A babbler? Talk about a case of the pot calling the kettle black. Your ignorant rant on a subject about which you know less than nothing doesn't even rise to the level of idiocy.
Apt 23, you have the idea that farm subsidies are about helping quaint farmers, but it's really not like that. That is a minor element of the whole thing. It is market distorting, and zillions of dollars go to agro-businesses that are hardly some nice family tending cows. In addition to the repugnant subsidies to agro-industrial companies, two other major issues about farm subsidies have gained prominence in recent years: ONE- farm subsidies in wealthy countries have the perverse impact of making developing country farmers unable to compete, in one area where there technology and manpower should allow them to complete, which led the ECONOMIST magazine to call U,S, farm subsidies "evil"; TWO various subsidies have distorted food production into more corn and high fructose corn syrup, a health concern.
67, here is the sentence:
They read the word "skinny", and then there followed an evening of acrimonious exegesis.
what happened to the link 67 had posted of his member?...more se censorship?