I can understand helping someone that bought a house they could afford, made payments religiously, lost their job, did everything in their power to make their payments, fell behind, and went into foreclosure. However, I say fukc the idiots that signed a 3/1 or 5/1 ARM so that they could buy a house that they could not afford any other way, barely made their payments, then went into foreclosure when their ARM adjusted up 4-5 points on them. Those people made a bad investment decision. I bought some stock that I lost money on. Lots of it. Where is the government bailout for that bad decision? Everyone else is getting bailed out so why not me? Fucking
. Let people be responsible for their own stupidity for a change and maybe they won't do it again.
How about this one. I know a couple that bought TWO condos around Troy for "investment" purposes because the area had seen huge jumps in value over the past 7-8 years. They are now intentionally letting them go into foreclosure so they can get out from under them. Mind you these 2 both work for a BIG 3 auto company and make big $$$$. I hope the banks sell them for cheap because they are responsible for paying taxes on the difference between the loan amounts and the amount the properties sell for. :tonka: