Comments on: Mortgage Burden Defies Class
By coldsteel on 07-29-09
What disingenuous blather..the rich are losing their homes..yeah right. How many billionaires do you know that are losing property? Yeah, Ted Turner is hurting real bad (cough cough). Obama keeps talking about the “new world order”. What he never brings up is that before we are fully assimilated into the “new order”, our representative republic must be completely dismantled. What better way to destroy a country than to cause 40% unemployment. We shall see.
By Gman on 07-30-09
I wonder how many homeowners really need to go into foreclosure…
http://www.acton.org/commentary/536_walking_away_when_you_can_pay.php
Being “underwater” doesn’t mean you can’t make your payments and fulfill the obligations in the contract you signed.
Quit pushing your irresponsibility on to the taxpayers!
By emerson on 07-30-09
Hey Coldsteel - I bet you can’t quote even one instance where Obama has talked about the “new world order…”
Please don’t just make stuff up.
By Kellyn Brown on 07-30-09
Some of the above comments were taken down. Please make your points without personally attacking other readers.
By coldsteel on 07-30-09
Some folks refuse to see Obama for who he is. I hope those viewing the “Obama Deception” find comfort in knowing another traitor to our Constitution and shill for globablist’s occupies the White House.
http://www.bing.com/videos/search?q=youtube+obama+deception&docid=1087466897983&FORM=VIRE2
“we have to give them a stake in creating a world order that all of us would like to see..” at two minutes 13 seconds into video
Dear Kellyn,
Good day to you. Are you being asked to not retain comments revealing the atrocities of this current administration/Obama? If so, would appear the takeover is moving ahead even faster than anticipated. Thx.
By Kellyn Brown on 07-30-09
Coldsteel,
When your comments refer only to the Obama administration (like the one above), they stay up. When they include personal attacks on other readers, they are taken down.
By Jim Cossitt on 08-04-09
One need look no furthr than the TT sale notices in today’s Daily Interlake to see that it is not just the middle class. There were 2 properties with debts in excess of $1 MM one of which was a slopeside condo. There are TT sales in Iron Horse and YMC.
People’s lifestyles expand to fit their incomes. Makes no difference if your income is $40 K or $400 K —if you take risk, overload yourself and get overlevraged (or lack diversification) and the hammer drops, you are toast.
Being underwater does not mean you cannot afford the asset, it means you have no incentive to direct your cash flow to service the debt. That is why General Growth and a host of other commerical real estate entities are in chapter 11 —to take advantage of th cram down that is allowed on non residential assets. Most folks who are underwater lack the cash flow to service the debt on the underwater asset anyway.
The responsiblity being foisted on the rest of us who live within our means has more to do the bailout of wall street and banks than any benefit the government is conferring on the middle class. If chapter 13 cram down was avaialble to consumers, there may be some merit to that argument.
Jim Cossitt, Kalispell MT
The views expressed in the comments section do not reflect those of the Beacon.