Bank Of America to forgive large % of mortgages debt

[ghi]

I hope the canadian banks start doing this also;
http://finance.yahoo.com/news/bank-america-starts-mortgage-reduction-100202589.html

[oakranger]

I hope the canadian banks start doing this also;
http://finance.yahoo.com/news/bank-america-starts-mortgage-reduction-100202589.html

Ghi, you know this will be locked.

[Sundowner]

Is financial news a no-no now on the forums?

Regards,
Sun

[zack1234]

I had no money before the recession and have none now

"Nothing like debt to get a man up in the morning"
"Your investment may go up or down" = "We might make you more money but we are not sure"

[ghi]

Ghi, you know this will be locked.

Opps, Sorry! have to go through forum rules!

[JOACH1M]

In

[Dragon]

The article is more financial than political, unless you categorize the BofA offer as roadkill, then the offer is like a political campaign promise and that is against the rules.

 

[Bodhi]

Great, more rewards for those that bought more than they could afford.  Nothing like encouraging irresponsibility.

[Shuffler]

Real shame that banks were forced to loan to folks who did not qualify then have to forgive the loans because the person could not pay them.

[ghi]

Great, more rewards for those that bought more than they could afford.  Nothing like encouraging irresponsibility.

Yep, but 3-4 weeks ago Iceland did the same, well this is a small country with a popualtion of 300,000;

http://www.youtube.com/watch?v=uyxzg58JkYI

[Shuffler]

That money is not just lost. It will filter into what paying customers have to pay. So in reality we are paying for the deadbeats.

[ink]

That money is not just lost. It will filter into what paying customers have to pay. So in reality we are paying for the deadbeats.

pretty broad brush you are sweeping with there.

[Shuffler]

pretty broad brush you are sweeping with there.

Facts are facts. You don't stay in business long if all you do is lose money.

[ink]

Facts are facts. You don't stay in business long if all you do is lose money.

I took it you are saying all those in forecloser are deadbeats....maybe I took it wrong....if that's what you are saying...well I stand by what I said.

[SFRT - Frenchy]

Why did I  bought a house I could actually afford ... I could have bought a mansion. Not that I needed it, but you know to impress my friends ... with money I don't have. I should have bought that big screen TV last month rather than making my house payment  Dang I suck at life