Quote:
Originally Posted by Amputate Your Head
This single phrase is the cause of many many problems. The "right thing" is to treat it like a business asset or liability, and not attach some sort of warped moral code to a piece of property or a debt. Too many people are brow-beaten and pressured into continuing to make payments they cannot afford because someone gave them the mental image that unless they "honor" the note, they're some sort of scumbag. It's simply not true. But the banks would sure love for everyone to stay signed onto that program.
There are people living without electricity or running water, just so they can try to keep paying their mortgage. It's insanity.
If your asset becomes an anchor, cut it loose.  |
You love to take things people say and twist them to suit your views dont you? It's called a strategic default. Meaning the person has the means to pay the mortgage but because it is no longer a good business decision they cut it loose and stop paying. I thought I made that pretty clear. This has nothing to do with people who "live without electricity" not being able to pay. Talk about bringing emotion into the discussion.
I also have a sneaking suspicion that if you signed a contract with someone else and they just up and decided they didnt want to "honor" it and went on a vacation instead you might have an issue. If they proceeded to tell you to fuck off, you might even deem them a "scumbag".
And on a side note, since when is borrowing money from someone and telling them you'll pay it back a "warped moral code"?