Just like I have "no problem" with people walking away on upside down mortgages - it fucks the bank hard core, the people get poor credit for a year but likely save themselves tens of thousands of dollars. They're merely exercising their right to not pay and have the bank engage in the proscribed foreclosure.
Oooh, how ANARCHIST of you...
I think you seriously misunderstand how foreclosure works. Your credit doesn't magically get better after a year.
You get my point. You just don't like it, so you refuse to acknowledge it.
No, I've been through bankruptcy. I've been denied loans. I've been denied apartments. I'm very attune to how long it takes credit to repair. But if you give me the option of paying $50,000 more than my house is worth, or 10 years of bad credit, you bet your ass I'm opting for the latter.
Then why lie and say it would only give you bad credit for a year?
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politicartoons2009-10-12 02:48 pm
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Oooh, how ANARCHIST of you...
I think you seriously misunderstand how foreclosure works. Your credit doesn't magically get better after a year.
You get my point. You just don't like it, so you refuse to acknowledge it.
no subject
Then why lie and say it would only give you bad credit for a year?