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Strategies & Market Trends : Aardvark Adventures
DAVE 197.61-3.3%Dec 12 9:30 AM EST
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To: ~digs who wrote (3939)2/2/2008 7:31:09 PM
From: Grandk   of 7944
 
We need a paradigm shift here in terminology. Americans are not losing their homes. Americans are defaulting on their mortgages, which is to say, they are not living up to their end of the bargain. These people never owned a home. What they owned was a mortgage, which is an IOU to a bank. And what is occurring is simply a default on debt. They are losing nothing and gaining solvency. In fact, many are gaining much more, including cash that they never should have received in the first place.
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