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"The ones I truly feel sorry for are the ones who did not put lives on hold and bought a home with a traditional 20% down payment and traditional debt/income ratios (~30%). If anyone should be aided, it should be those. The dumbasses who bought with low down, zero down, Alt-A smack should never have gotten in the game. The banks are guilty for even offering this trash"
"Nobody ever stops to ask why a family making $50k thought they could afford a $500k house"
"lost their jobs, got sick and burned through their six mos. of cash reserves before falling behind on their mortgage. No, those folks are the ones who actually might deserve some sympathy"
A+++
Anyone watch the "show the note" thing on TV? I was laught so bad when they interview a decent looking lady who is not going to work and search on how to do the "show the note" so she can "steal" the property from the bank. Did I got it right? The last questions asked were:
question: how much your house worth?
answer: $39k
question: how much do you owe now?
answer: $140k... smile.
How the hell do you owe $140k while the house worth $39k? Don't you hate those who are living off the house purposely? ... and now we are paying (the tax payers, the daily workers) for them to live in their nice home so they don't have to pay?
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Fat butt 911, 1987
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