The Daily Static
  The Daily Static
UF Archives
Register
UF Membership
Ad Free Site
Postcards
Community
Geekfinder
UFie Gear
Advertise on UF
Forum Rules
& FAQ

Username

Password


Create a New Account

  
 

Back to UserFriendly Strip Comments Index
Another aspect of the mortgage crisis. by Peace_man 2008-07-29 09:47:29
It used to be that losing your credit rating was unthinkable. Defaulting on a loan? Never!

But now it makes more and more sense to do so. After all, it will only take five or so years to recover your credit rating. But the hundreds of thousands of dollars you lose by trying to hang on to a house that both you and the bank evaluated too high won't be recovered. Ever.

[ Reply ]
  The laws changed recently by subbywan2008-07-29 09:51:05
    Contracts frequently have that stipulation already by merlin2008-07-29 09:53:44
      Recourse vs. non-recourse. by esbita2008-07-29 10:12:22
    That makes sense. by Peace_man2008-07-29 09:54:32
      It's a two-way street. Yes the banks "overlent", by merlin2008-07-29 09:56:20
        Yup. I was pushed to make a larger loan by subbywan2008-07-29 09:57:53
          When I ran all my paperwork, my mortgage broker by merlin2008-07-29 10:00:39
            Yup. I go with 25-30%, max. (n/t) by subbywan2008-07-29 10:02:21
            We were pre-qualified for $300 000 by MatthewDBA2008-07-29 10:03:53
            Don't buy in Vancouver! by Illiad2008-07-29 10:07:10
              I bought 2,600 sq. ft. (4BR,2.5BA) for < $160k (n/t) by merlin2008-07-29 10:11:52
                $160K by Illiad2008-07-29 10:25:40
                  *snerk* That made me LOL. by merlin2008-07-29 10:27:32
              That is the size of my first apt that I paid about by Classic_Jon2008-07-29 11:07:50
              Okay, here's one for you. by kelli2172008-07-29 13:00:54
                Oh, sorry, that one's $300k. Wrong link. by kelli2172008-07-29 13:05:54
      Yes, both should be penalized. by Illiad2008-07-29 10:02:35
        Customer told me this on the phone after by Classic_Jon2008-07-29 10:12:17
          that attitude urinates me off by subbywan2008-07-29 10:14:00
            In the bill payment industry, you have no idea how by Classic_Jon2008-07-29 10:42:01
        The borrowers are penalized. by Peace_man2008-07-29 10:16:12
          Maybe 60/40? by Illiad2008-07-29 10:21:04
            Well - I could agree to that. by Peace_man2008-07-29 10:32:04
              Not "no return," no. by Illiad2008-07-29 10:48:42
                I will say, though, that I give him props for by merlin2008-07-29 10:52:15
                  A slight adjustment to 3) by Illiad2008-07-29 10:54:49
                    That's one way of reading it. by merlin2008-07-29 10:56:59
                In other words by MatthewDBA2008-07-29 10:52:56
                  In the subtext... by Illiad2008-07-29 10:55:46
                  Or, "Man, I was hoping this would be a sugar daddy by merlin2008-07-29 10:56:16
                I'd forgive him. He doesn't have enough by Peace_man2008-07-29 11:15:22
          Correction: they lose *a* home. by esbita2008-07-29 10:50:31
    I agree with not giving people a free escape by AndyA2008-07-29 10:36:32
      Agreed on the latter with one provision: by subbywan2008-07-29 10:44:34
        Agreed. (n/t) by AndyA2008-07-29 11:03:28
  I've read stories of companies that are actually by merlin2008-07-29 09:52:23
    Sadly, I don't think had any semblance of sanity by Classic_Jon2008-07-29 09:56:37
      True, true. It should be much more sane by merlin2008-07-29 09:57:21
  This line caught my eye by altordwm2008-07-29 10:02:59
    That's a good point. by subbywan2008-07-29 10:04:10
      Also, there's no longer a feeling that the lender by bitflipper2008-07-29 10:52:08
  The irony is... by bitflipper2008-07-29 10:19:51
  The thing that worries me here is the long term by SaylorA2008-07-29 10:26:53
    Prices will adjust downwards... by McNutcase2008-07-29 10:29:29
      Regular Joe's will find it painful for a while too by merlin2008-07-29 10:31:31
        Wife and I will likely loose our shirt by joecrouse2008-07-29 11:46:38
    Look at Canadian lenders. by Illiad2008-07-29 10:33:09
  Unwanted side effects? by DesiredUsername2008-07-29 12:19:25
    That or "We have a position for you in sales." (n/ (n/t) by chanceslost2008-07-29 12:51:28

 

[Todays Cartoon Discussion] [News Index]

Come get yer ARS (Account Registration System) Source Code here!
All images, characters, content and text are copyrighted and trademarks of J.D. Frazer except where other ownership applies. Don't do bad things, we have lawyers.
UserFriendly.Org and its operators are not liable for comments or content posted by its visitors, and will cheerfully assist the lawful authorities in hunting down script-kiddies, spammers and other net scum. And if you're really bad, we'll call your mom. (We're not kidding, we've done it before.)