Quite making your mortgage payments? How about your keep making your payments because its the right thing to do. You made the commitment… If you make a bad stock investment you take your lumps. Do what you “promised” to do.
Someone named John D. Wilson wrote, “Why hold on to an house that has dropped in value consistently over the last year?”
Well, since you didn’t qualify the question, let me give you what should be the obvious answer your rhetorical question, why hold on to a house?
Because you want to live in it for the next decade, or perhaps longer. Because you love where you live, like your neighbors, enjoy the neighborhood above others, and hate the process of looking for another place to live and packing up and moving which is enormously stressful. Because renting, especially if one doesn’t want to live in a marginal home, isn’t all its cracked up to be. You can’t put a price tag on the ability to paint one’s walls whatever color one wants when one wants, to grow whatever plants one wants to in one’s own yard, to replace what needs to be replaced immediately according to the dictates of ones taste, as opposed working through that process with a landlord.
jumboFeb 20, 2009 @ 11:23
…i’ve stopped paying state/federal taxes, my mortgage, and all other loans. i urge 10 million other Americans to do the same. they’ve got NO power to stop a tsunami that large. oh, and for good measure lets start hanging the bankers and throw ANY congressman into jail who spends ONE CENT more than those despicable feds actually take in. Ron Paul predicted this years ago (along with other notables), even naming specific companies that’d drag the economy down with them…why isn’t the “media” proclaiming him the messiah?
arturoFeb 20, 2009 @ 5:30
Michael. Good work on getting Rick on twitter. Now I can get his updates via text message to my mobile. If possible can you ping his bulletins as well. Thx.
John D. WilsonFeb 20, 2009 @ 6:18
On this “skipping a mortgage payment” stuff. If you had an investment that was
off,lets say 30 to 40% , and it didn’t look like that industry was going to turn around anytime soon, would you still hold on to it?? That’s what’s happening in the housing market. Why hold on to an house that has dropped in value consistently over the last year? I’ve got a neighbor 3 doors down that is selling their house for half of what I paid for mine.Why should I continue to support these clowns at the banks, pay my mortgage when these house values are dropping so fast? I’ve got 4 other houses that are up for sale 30% below what I paid. A house right now is a complete liability. And the government thinks this stuff is going to bottom soon with all the money they are spending? Paaallllleeeze.
My thinking is the John Galt type- refuse to participate in this scam. Stop mortgage payments, credit card payments, and car payments. Get a group of people together like that, and the government and banks would change their tune quickly, and get forced to go back to some fiscal responsibility Credit score be damned.
Comments on this entry are closed.
Quite making your mortgage payments? How about your keep making your payments because its the right thing to do. You made the commitment… If you make a bad stock investment you take your lumps. Do what you “promised” to do.
Someone named John D. Wilson wrote, “Why hold on to an house that has dropped in value consistently over the last year?”
Well, since you didn’t qualify the question, let me give you what should be the obvious answer your rhetorical question, why hold on to a house?
Because you want to live in it for the next decade, or perhaps longer. Because you love where you live, like your neighbors, enjoy the neighborhood above others, and hate the process of looking for another place to live and packing up and moving which is enormously stressful. Because renting, especially if one doesn’t want to live in a marginal home, isn’t all its cracked up to be. You can’t put a price tag on the ability to paint one’s walls whatever color one wants when one wants, to grow whatever plants one wants to in one’s own yard, to replace what needs to be replaced immediately according to the dictates of ones taste, as opposed working through that process with a landlord.
…i’ve stopped paying state/federal taxes, my mortgage, and all other loans. i urge 10 million other Americans to do the same. they’ve got NO power to stop a tsunami that large. oh, and for good measure lets start hanging the bankers and throw ANY congressman into jail who spends ONE CENT more than those despicable feds actually take in. Ron Paul predicted this years ago (along with other notables), even naming specific companies that’d drag the economy down with them…why isn’t the “media” proclaiming him the messiah?
Michael. Good work on getting Rick on twitter. Now I can get his updates via text message to my mobile. If possible can you ping his bulletins as well. Thx.
On this “skipping a mortgage payment” stuff. If you had an investment that was
off,lets say 30 to 40% , and it didn’t look like that industry was going to turn around anytime soon, would you still hold on to it?? That’s what’s happening in the housing market. Why hold on to an house that has dropped in value consistently over the last year? I’ve got a neighbor 3 doors down that is selling their house for half of what I paid for mine.Why should I continue to support these clowns at the banks, pay my mortgage when these house values are dropping so fast? I’ve got 4 other houses that are up for sale 30% below what I paid. A house right now is a complete liability. And the government thinks this stuff is going to bottom soon with all the money they are spending? Paaallllleeeze.
My thinking is the John Galt type- refuse to participate in this scam. Stop mortgage payments, credit card payments, and car payments. Get a group of people together like that, and the government and banks would change their tune quickly, and get forced to go back to some fiscal responsibility Credit score be damned.