Comments on: Loan Modification Program: My resignation from financial responsibility

By: The BoBo Carnival of Politics – Valentine’s Day Edition | The BoBo Files

Tue, 16 Feb 2010 03:32:59 +0000

[...] Spiegel presents Incinerating a Hot Potato posted at Scott Spiegel. Adam Williams presents Loan Modification Program: My resignation from financial responsibility posted at RabbitFunds.com, saying, “Our nation has been facing for more than a year now, one [...]

By: Money Reasons

Money Reasons — Thu, 11 Feb 2010 17:30:18 +0000

Yeah I posted about being dissatisfied with the entire preception of what when wrong too…

“Stategic Defaulters” is the new identifier for the people that you describe above (yeah I’m still a little angry with them)… Basically they default on the mortgage because the value of their home is underwater. They can afford to keep it but don’t…
.-= Money Reasons´s last blog ..Stop Waiting For Magical Moments To Happen =-.

By: Adam

Adam — Thu, 11 Feb 2010 01:37:50 +0000

Thanks for the comment. I honestly am so frustrated anymore with this situation. And I love the phrase strategic defaulters.

By: Money Reasons

Money Reasons — Wed, 10 Feb 2010 23:37:59 +0000

I agree, it’s good to see there are other people out in the world that share my viewpoint on this matter.

I’m so sick of hearing that it’s all the big bad bank’s fault.

Government is doing damage by creating such programs as you mentioned above. And now “strategic defaulters” are taking advantage of it. Initially, I felt anger at the strategic defaulters that are taking advantage of the system, but then I realized that the system is really taking advantage of us responsible taxpayers. We are the ones that are getting punish. It seems foolish to push us, the ones that live within our means and do the right thing.

I think govenment sometimes moves to rashly without thinking matter through fully. To me, it seems like such actions can cause more damage than good.
.-= Money Reasons´s last blog ..Stop Waiting For Magical Moments To Happen =-.