Mortgage Renegotiation

[Beestie]

Originally Posted by TheMercenary

It still begs to ask, why are we helping so many people who made bad decisions when all those who pay on time are still screwed with the deals they made?

The money isn't going to come out of thin air - either way, we all will bear a portion of the economic contraction.

Think of it as shoplifting or insurance fraud. The loss gets capitalized into the rates that everyone pays.

There's two ways to get to your neighbor's house: you can walk out your front door and take a left and you're there or you can walk out your front door, take a right and walk all the way around the block. Either way you end up at your neighbor's house but one way is a little shorter.

If you think you can "teach these irresponsible, deadbeats a lesson they won't soon forget", you are just kidding yourself. The money is going to come from somewhere. When times are good, we all benefit more than we deserve (stocks appreciate, homes appreciate, wages increase, prices drop - whatever). When times are bad, you don't get to carve out an exception for yourself. Times are bad for everyone.