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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: the_wheel who wrote (244376)	4/3/2008 11:57:28 AM
From: gamesmistress	Respond to of 793640

I have some sympathy for anyone who owes more than the house may sell for, but since a)he worked for GM for 30 years b)he was a full-time union official of his United Automobile Workers local and c) he accepted one of the early retirement packages that the company is offering to shrink its work force, I don't think he's hurting financially, unless he blew it all. I wouldn't leave the house empty, either - heck, it's Detroit. I've seen a fair number of empty houses for sale in the past couple of years - more than I've ever seen - and some foreclosed houses. But the foreclosed houses were either in a bad location, in bad shape or butt ugly. Or all three. Can't say about the house in Taylorville, NC.

To: the_wheel who wrote (244376)	4/3/2008 4:56:02 PM
From: KLP	Read Replies (1) \| Respond to of 793640

Gina just said it, and I concur. I don't feel one bit sorry for those people who bought houses, paying NO down payment, and therefore, bought a more expensive house than they could afford....Effectively, they were paying rent, and at that, less than they would have ordinarily have paid in rent. If the mortgage company/bank was stupid enough to loan the money for that house, then the mortgage company/bank deserves to have it back on it's hands. Problem is.....where are the mortgage papers the mortgage company or bank is supposed to have? Who did they sell it to? And who did THEY sell it to? And on down the line...Does anyone know?