Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (8108)	2/4/2012 2:10:47 PM
From: sm1th	3 Recommendations Read Replies (1) \| Respond to of 85487

The concept of principal forgiveness thought gives me a lot of trouble. If a private lender offers principal forgiveness with their own capital, that is their choice. If it is a government funded program, then it is just taking money away from taxpayers to buy votes.

To: Bearcatbob who wrote (8108)	2/4/2012 2:44:54 PM
From: Steve Lokness	Read Replies (1) \| Respond to of 85487

<<<The concept of principal forgiveness thought gives me a lot of trouble>>> Gee, me too! In fact I'm against it. The guy next door took out a second with BofA for 300K. When prices took a crapper, he just walked away and the property sold as a short sale. BofA took a 180K loss. I'm fine with that. If the bank is stupid enough to get themselves in trouble then they deserve to lose money. Same with the homeowner though; this guy spent the money from the second and bought another house. Not only that but the 180K short sale amount he brags now was tax free!! Think that one through.........