it still prevents you from borrowing again any time soon, so really there is little incentive for anyone who can see past the next five minutes to bail on a house if they can avoid it. As you say, blame is pointless, but there is more afoot here than a few irresponsible borrowers.
Keynes: http://en.wikipedia.org/wiki/Keynesian_economics On Thu, Sep 25, 2008 at 4:18 PM, Maureen <[EMAIL PROTECTED]> wrote: > I would say that most people who can afford to pay their housing cost > will pay, but there is always a group of bogus borrowers who will take > advantage of easy credit to either live free . No money down and no > equity in the house - walking away is easy. > > Not really sure what your point is about Keynes. Maybe you could explain. > > On Thu, Sep 25, 2008 at 2:24 PM, Dana <[EMAIL PROTECTED]> wrote: >> bottom line though, they cannot afford the payments? If people can >> afford to pay their housing costs usually they will, yes? If you agree >> with that statement, then ask yourself what Keynes would say. >> >> On Thu, Sep 25, 2008 at 1:33 PM, Maureen <[EMAIL PROTECTED]> wrote: >>> The problem in the mortgage industry is that people applied for loans >>> with an adjustable rate interest that had low initial rates, but now >>> the higher rate and higher payments are kicking in and they can't >>> afford the payments. Credit has tightened and they cannot no longer >>> qualify for refinancing. Add high gas and food prices to that and you >>> have a recipe for disaster. > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:270918 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
