"underwater" mortgages
 

I'm not sure that I agree with helping people just because they owe more on their mortgage than their house is worth. Unless there has been a substantial change to income or payment, why do they need help? They were able to make the payments when they innitiated the loan, why wouldn't they be able to make payments now? The value of their property is bound to increase in time.

When you drive a brand new car off of the lot, its value decreases dramatically. If you financed the entire amount, you would then owe more than it is worth. There's never been a suggestion that people in that situation need help.

Am I missing something?

Well, I think "helping people who owe more on their mortgage than their house is worth" is the ostensible reason. What is really going on relates to the old saying: If you owe the bank $250,000. and you can't pay, you've got a problem. If you owe the bank $250,000,000,000. and you can't pay, the bank has a problem.

This is not about helping out "the little guy." While that may be the expressed reason and may collaterally happen, this is about saving the fat pensions and keeping that game alive long past bedtime.

There's also the issue of 'fairness'. Businesses have been defaulting on their own 'bad' debt left and right; why should an individual not have the same recourse? If it's good enough for Wall Street, why is the consumer held to a higher standard? :eyebrow:

That is how the debbil injects his evility into our personages. :lol:

Sauce for the goose is sauce for the gander.

Yes, I think so. But I'm pretty sure it's chromosomal, so I don't think there's anything to be done about it.

Now Pie darling, everyone can't be thieves. There has to be someone who is stolen from.

But it's a bitter sauce. Not fit for humans. Tempting...all colorful and pretty, but not good for the masses. Kinda like caviar. :)

SO FUCKIN' FIX IT!

Why are there two sets of rules?

horses for courses

I don't have that kind of money. :(

seriously. are you suggesting that it should be alright for a mortgage holder to default on their loan because the value of the collateral is not what it once was...BECAUSE some businesses have defaulted on their obligations?
Seriously?

It's a legal option.

don't make it right

One of the huge problems in our society is people can't stand if someone is getting something they're not getting, or someone else is getting one over and they're not.

I won't succumb. I got nuttin' but it's all my nuttin' and it's honest nuttin'.