Michael wme: I’m glad you’re still able to use humor in these situations. More and more, I feel like I’m in the last chapters of Catch 22. If I laugh, it will be like the laughter of a madman raging at the storm that’s destroying everything around him.
Actually, after a cash strapped home owner defaults on their mortgage and other loans, the Banks would re-sell the homes to yet poorer families who would eventually default on their mortgage. The cycle would continue to repeat itself, thus making more profits for the Banks. There’s no profit in selling a home to someone who can actually afford it. No money to be made there! The so called gentry own the banks. They don’t need mortgages or home equity loans.
aardvarkseyes over 9 years ago
But…having no plan IS the plan…
Cerabooge over 9 years ago
Michael wme: I’m glad you’re still able to use humor in these situations. More and more, I feel like I’m in the last chapters of Catch 22. If I laugh, it will be like the laughter of a madman raging at the storm that’s destroying everything around him.
William Bednar Premium Member over 9 years ago
Actually, after a cash strapped home owner defaults on their mortgage and other loans, the Banks would re-sell the homes to yet poorer families who would eventually default on their mortgage. The cycle would continue to repeat itself, thus making more profits for the Banks. There’s no profit in selling a home to someone who can actually afford it. No money to be made there! The so called gentry own the banks. They don’t need mortgages or home equity loans.
Cerabooge over 9 years ago
SizeofaPea: well done. Both comments.
moosemin over 9 years ago
Thanks, well stated. You spoke for me too.
Kip W over 9 years ago
That’s trickle-down. The system works! Hooray.