Frogman

Walking Away: The Next Mortgage Crisis

FINALLY SOMEONE ELSE WHO GETS IT!!! I have been POUNDING THE TABLE ON THIS VERY ISSUE BUT NOBODY WILL LISTEN!! 70% of our economy is proped up by the homeowner who mortgaged thier house to buy a hummer, max out thier credit cards and then walk away. I know PRIME BORROWERS (MAKING 250k /year!) with 700+ credit who rented before they walked away so their credit won't get nailed before they were foreclosed on....that is how they are doing it (To the person who asked) ..don't believe me or the article???....listen to Wachovia's and BOFA's conference call last quarter...WE HAVE JUST BEGUN the PRIME MESS!!!!!!!!!!!
RECOVERY ABSOLUTE BS!!!! This is a trading market that started on APRIL fools..."suckers rally" we will get some relief but nothing in the economic cards or otherwise suggest that we are headed to an or even stabilizing.... People just don't get what is happening....GREAT ARTICLE!!