Walk Away?

[OL FU]

Perfect AZ,
That is such silly over dramatized talk radio puppet speak...

Oh, **** you. It was funny and you know it.

Yes it was and overdramatically truthful

[Chizzang]

Perfect AZ,
That is such silly over dramatized talk radio puppet speak...

Oh, fuck you. It was funny and you know it.

There will be plenty of America left to plunder and destroy when the next Republican gets elected...

[YoUDeeMan]

Everyone is getting into the act...

http://www.msnbc.msn.com/id/38158763/ns ... eal_estate" onclick="window.open(this.href);return false;

LOS ALTOS, Calif. — The housing bust that began among the working class in remote subdivisions and quickly progressed to the suburban middle class is striking the upper class in privileged enclaves like this one in Silicon Valley.

Whether it is their residence, a second home or a house bought as an investment, the rich have stopped paying the mortgage at a rate that greatly exceeds the rest of the population.

More than one in seven homeowners with loans in excess of a million dollars is seriously delinquent, according to data compiled for The New York Times by the real estate analytics firm CoreLogic.

By contrast, homeowners with less lavish housing are much more likely to keep writing checks to their lender. About one in 12 mortgages below the million-dollar mark is delinquent. ...

...Fannie Mae and Freddie Mac, the two quasi-governmental mortgage finance companies that own most of the mortgages in America with a value of less than $500,000, are alternately pleading with distressed homeowners not to be bad citizens and brandishing a stick at them.

In a recent column on Freddie Mac’s Web site, the company’s executive vice president, Don Bisenius, acknowledged that walking away “might well be a good decision for certain borrowers” but argues that those who do it are trashing their communities.

The delinquency rate on investment homes where the original mortgage was more than $1 million is now 23 percent. For cheaper investment homes, it is about 10 percent.

Wheeeee....

[kalm]

Everyone is getting into the act...

http://www.msnbc.msn.com/id/38158763/ns ... eal_estate" onclick="window.open(this.href);return false;

LOS ALTOS, Calif. — The housing bust that began among the working class in remote subdivisions and quickly progressed to the suburban middle class is striking the upper class in privileged enclaves like this one in Silicon Valley.

Whether it is their residence, a second home or a house bought as an investment, the rich have stopped paying the mortgage at a rate that greatly exceeds the rest of the population.

More than one in seven homeowners with loans in excess of a million dollars is seriously delinquent, according to data compiled for The New York Times by the real estate analytics firm CoreLogic.

By contrast, homeowners with less lavish housing are much more likely to keep writing checks to their lender. About one in 12 mortgages below the million-dollar mark is delinquent. ...

...Fannie Mae and Freddie Mac, the two quasi-governmental mortgage finance companies that own most of the mortgages in America with a value of less than $500,000, are alternately pleading with distressed homeowners not to be bad citizens and brandishing a stick at them.

In a recent column on Freddie Mac’s Web site, the company’s executive vice president, Don Bisenius, acknowledged that walking away “might well be a good decision for certain borrowers” but argues that those who do it are trashing their communities.

The delinquency rate on investment homes where the original mortgage was more than $1 million is now 23 percent. For cheaper investment homes, it is about 10 percent.

Wheeeee....

Game, set, and match cleets.

[OL FU]

Everyone is getting into the act...

http://www.msnbc.msn.com/id/38158763/ns ... eal_estate" onclick="window.open(this.href);return false;

LOS ALTOS, Calif. — The housing bust that began among the working class in remote subdivisions and quickly progressed to the suburban middle class is striking the upper class in privileged enclaves like this one in Silicon Valley.

Whether it is their residence, a second home or a house bought as an investment, the rich have stopped paying the mortgage at a rate that greatly exceeds the rest of the population.

More than one in seven homeowners with loans in excess of a million dollars is seriously delinquent, according to data compiled for The New York Times by the real estate analytics firm CoreLogic.

By contrast, homeowners with less lavish housing are much more likely to keep writing checks to their lender. About one in 12 mortgages below the million-dollar mark is delinquent. ...

...Fannie Mae and Freddie Mac, the two quasi-governmental mortgage finance companies that own most of the mortgages in America with a value of less than $500,000, are alternately pleading with distressed homeowners not to be bad citizens and brandishing a stick at them.

In a recent column on Freddie Mac’s Web site, the company’s executive vice president, Don Bisenius, acknowledged that walking away “might well be a good decision for certain borrowers” but argues that those who do it are trashing their communities.

The delinquency rate on investment homes where the original mortgage was more than $1 million is now 23 percent. For cheaper investment homes, it is about 10 percent.

Wheeeee....

Game, set, and match cleets.

The funny thing about this is Fannie and Freddie have no moral right to chastise anyone.

Let's see possibly trashing the neighborhood = bad.
Definitely trashing the housing and financial markets = OK

[houndawg]

Game, set, and match cleets.

The funny thing about this is Fannie and Freddie have no moral right to chastise anyone.

True dat, but interesting.


Supports the feeling on the street that the rich are more crooked than the rest of us.

[YoUDeeMan]

The funny thing about this is Fannie and Freddie have no moral right to chastise anyone.

True dat, but interesting.


Supports the feeling on the street that the rich are more crooked than the rest of us.

Poor people are just as crooked and just as violent. They will kill you for drug money or just because you look different.

As in another thread, poor versus rich isn't about who is more crooked...they just use different tools.

[houndawg]

True dat, but interesting.


Supports the feeling on the street that the rich are more crooked than the rest of us.

Poor people are just as crooked and just as violent. They will kill you for drug money or just because you look different.

But they aren't as likely to be deadbeats.