I suppose, on a base level, my question is:Ugly Dougly wrote:Yeah, I have been wondering about this recently. Foreclosures seemed to have happened suddenly, and all over. It's just so convenient. The rich cats now own the properties, as well as the equity that the peons put into them. Are there any documents relating to this, or do we have to wait a decade before the truth comes out?cowboyangel wrote: They have taken our houses through an illegal foreclosure process, despite not having the original mortgage.
if you borrow money, and don't pay it back, what should the lender do?
Whether it's "your fault" or not, for being able to re-pay, if you borrow money from me, what am I to do if you can't/won't repay?
I'm not ok with predatory foreclosures, first off.
I'm also not ok, with lying to people to get them to get loans.
But, I'm also not ok, if you don't go so far as to realize, maybe, your income won't support the payments, etc on a house at a certain level, but, you buy it anyway, making use of liberal lending policies. Then, decide you can't/won't pay and then get pissed you lost it.
How many foreclosures, are due to people "walking away" from a house they're "upside down" in?
That number is, I'm sure, added to the foreclosure totals. But, in that case, a lender, is "stuck" with the place, probably at a substantial loss.
Is that ok?
Do the lenders "deserve" it, because they made money on other loans, or "they can afford it".........
I dunno........I think it's way more complicated than folks want to admit.
Are you saying, if I don't have "the paper" regarding a loan to you, that, you shouldn't have to re-pay?
I mean, if you borrowed money, paper or no, shouldn't you pay it back? Doesn't decorum and integrity, dictate that you repay a loan, that you chose to take?
just some thoughts
flame suit on