The road to economic hell was built by MBAs and politicians. Too many people have been too smart for their own good and now everyone is starting to suffer. Repent and pay down your debt before they bring back debtor's prision.
Illegal or just unethical? Walking away from your mortgage...
- Thread starter VitruvianDoc
- Start Date
Unethical, but should be illegal.
Here we go again with the evil corporations. Fortunately our benevolent government is there to right the wrongs. Think you don't own BOA? You'd better check your 401k. Think the government should take care of everyone? Look at your withholdings on your pay stub, your property taxes, your sales taxes, etc. These people will end up screwing responsible hard working people with their actions, not sticking it to the man. The same goes for those who leech off of the government.
Is BOA led by crooks and thieves? It most likely is but that doesn't give me the right to become like them. Is the government taking care of everyone else? Maybe, but I'm not going to sit at home and wait or expect them to take care of me. Is it legal? Yes I believe it is. Is it unethical? Yes I believe it is. Justifying your own wrong doing by pointing out the wrong doing of another is a slippery slope. That line of reasoning will leave you old and bitter. Personal accountability, although the road less travelled, will at least allow you to keep your morals in tact and maintain a sense of self-worth.
Is BOA led by crooks and thieves? It most likely is but that doesn't give me the right to become like them. Is the government taking care of everyone else? Maybe, but I'm not going to sit at home and wait or expect them to take care of me. Is it legal? Yes I believe it is. Is it unethical? Yes I believe it is. Justifying your own wrong doing by pointing out the wrong doing of another is a slippery slope. That line of reasoning will leave you old and bitter. Personal accountability, although the road less travelled, will at least allow you to keep your morals in tact and maintain a sense of self-worth.
As with all situations, there are those who are justified in doing something like this, and there are those who see an opportunity to take advantage, and do. My HUNCH is that your neighbors are taking advantage. However, I can't say I blame the people who bought houses for $200k and woke up one morning with a $100k house and $200k mortgage, all thanks to an overly-inflated housing market. What's worse there? Throwing 100k out the window to keep a credit score or walking away and letting it suffer, but not losing your butt?
A coworker of mine is currently paying down a house right now just so he can sell it. When the housing bubble burst here, he immediately went upside down on it, all thanks to actions he had no control over. If this happens enough, people get fed up, and decide to let the banks sort it out.
A coworker of mine is currently paying down a house right now just so he can sell it. When the housing bubble burst here, he immediately went upside down on it, all thanks to actions he had no control over. If this happens enough, people get fed up, and decide to let the banks sort it out.
No kidding ...
We begin with the facts as my dad described them to me based on something the neighbor said to him.
We end with a morality tale. Brief history of human knowledge.
We end with a morality tale. Brief history of human knowledge.
This. Assuming of course that there was no fraud on the application and other lending criteria.
I guess if you are suggesting that someone be personally accountable and do the right thing, you are just telling a morality tale based on limited facts. However, if you use the same set of facts to suggest one should abandon accountability and let the bankers bleed, then that is perfectly reasonable. Who's riding the high horse now?
Similar threads
