Armed Polite Society

Main Forums => The Roundtable => Topic started by: Nitrogen on October 03, 2008, 12:45:11 PM

Title: Want a free house?
Post by: Nitrogen on October 03, 2008, 12:45:11 PM
All you have to do is buy a house you can't afford, then shoot yourself when they come to foreclose on it:

http://www.cnn.com/2008/US/10/03/eviction.suicide.attempt/

I wonder how many others this would work for.
Title: Re: Want a free house?
Post by: Manedwolf on October 03, 2008, 12:46:48 PM
Some people have torched their own house, too. They tend to be surprised when they're charged with a felony.
Title: Re: Want a free house?
Post by: Desertdog on October 03, 2008, 01:27:52 PM
Stupid, stupid, stupid.  Somebody a little rational should have said, "She is 90 years old.  Lets let her live there until she dies, and her heirs can pay us off or we foreclose."
Now her heirs have a home free and clear.
Title: Re: Want a free house?
Post by: Headless Thompson Gunner on October 03, 2008, 02:52:00 PM
Jeebus H.

And I suppose we;re going to pay for her medical care now, too.
Title: Re: Want a free house?
Post by: Gewehr98 on October 03, 2008, 03:19:14 PM
Quote
I wonder how many others this would work for.

I vote we give Manedwolf a mortgage, then foreclose on it, just to see what he does.   grin
Title: Re: Want a free house?
Post by: Desertdog on October 03, 2008, 05:17:54 PM
Quote
And I suppose we;re going to pay for her medical care now, too.
We are.  Remember medicare?
Title: Re: Want a free house?
Post by: 2swap on October 03, 2008, 05:27:09 PM
Well, Nitrogen, I can understand the reasoning of the bank. They probably assumed to profit more from the good PR than from the foreclosing, especially in the current situation where houses are apparently sold for <1000 USD.
Title: Re: Want a free house?
Post by: Hawkmoon on October 05, 2008, 05:58:41 PM
I guess I'm just a hard-hearted S.O.B. but ... somebody please explain to me why forgiving her mortgage is any more "appropriate" than forgiving any (or all) of the other defaulted mortgages Fannie Mae holds? Sheesh, she and her hubby bought the house in 1970, so they owned it for 30+ years, then she took out a mortgage? Stupid. A reverse mortgage would have made more sense, in her case, but even those don't work too well if the person lives longer than they expect to -- as happened to a close friend of mine, who lived several years beyond when the income stream from her reverse mortgage ended.
Title: Re: Want a free house?
Post by: TexasRifleman on October 05, 2008, 07:17:11 PM
Quote
somebody please explain to me why forgiving her mortgage is any more "appropriate" than forgiving any (or all) of the other defaulted mortgages Fannie Mae holds?

That's sort of the poster child for this whole bailout mess.

Banks loaned money to people that had no possible chance of ever paying it back.

Now the rest of us live in hyper inflation and a collapsed economy because of it.

Doesn't it make you feel all warm and fuzzy?
Title: Re: Want a free house?
Post by: MicroBalrog on October 06, 2008, 08:00:07 AM
Quote
Banks loaned money to people that had no possible chance of ever paying it back.

You forget the bit where the Fed (a government agency) loaned money to the banks for this.
Title: Re: Want a free house?
Post by: brimic on October 06, 2008, 08:08:20 AM
This ties in well with Monkeyleg's "I'm an idiot" thread.

http://www.armedpolitesociety.com/index.php?topic=15189.0

Nothing like being a resposible citizen who pays their mortgage, pays their taxes, and pays more taxes to pay for those who won't pay their mortgages. =|
Title: Re: Want a free house?
Post by: MechAg94 on October 06, 2008, 09:11:49 AM
Quote from: TexasRifleman on October 05, 2008, 07:17:11 PM
Quote
somebody please explain to me why forgiving her mortgage is any more "appropriate" than forgiving any (or all) of the other defaulted mortgages Fannie Mae holds?

That's sort of the poster child for this whole bailout mess.

Banks loaned money to people that had no possible chance of ever paying it back.

Now the rest of us live in hyper inflation and a collapsed economy because of it.

Doesn't it make you feel all warm and fuzzy?
Was it a bank or one of those mortgage lenders who then sold the loan off?  I guess it doesn't matter.
Title: Re: Want a free house?
Post by: 2swap on October 06, 2008, 09:52:58 AM
Quote from: Hawkmoon on October 05, 2008, 05:58:41 PM
I guess I'm just a hard-hearted S.O.B. but ... somebody please explain to me why forgiving her mortgage is any more "appropriate" than forgiving any (or all) of the other defaulted mortgages Fannie Mae holds?
Free publicity. A national ad campaign to improve its image would be much more expensive, I guess.