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Traders REVOLT!!!

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TRADERS REVOLT: CNBC HOST CALLS FOR NEW 'TEA PARTY'; CHICAGO FLOOR MOCKS OBAMA PLAN

VIDEO: 'The government is promoting bad behavior... do we really want to subsidize the losers' mortgages... This is America! How many of you people want to pay for your neighbor's mortgage? President Obama are you listening? How about we all stop paying our mortgage! It's a moral hazard'... MORE...

http://www.cnbc.com/id/15840232?video=1039849853
 
I am considering not paying my mortgage so I can get someone else to pay it. I could afford a really nice boat without the house payment.

I am on my way to Chi-town for the Tea Party!
 
Tea party? Ya, okay that may be a start....What we really need is more like a toilet flush.
I would love to stick Pelosi's head in a dirty toilet and flush that bitsh!
:D :D
 
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Here I am living well within my means, and I though that was a good thing.

Now Obama is gonna take my "extra" money and give it to people who were/are living well above their means! :mad:

Costa Rica is looking better and better.
 
CigDaze said:
Tea party? Ya, okay that may be a start....What we really need is more like a toilet flush.
I would love to stick Pelosi's head in a dirty toilet and flush that bitsh!
:D :D
Click to expand...

Let me know when you plan on doing this. I will drop whatever it is Im doing and come help.
 
It's a bit cold right now...when it warms up in DC, I'm there. It'll be an official SOS party. Stecz will be M.C., Cat and Jay will be the guests of honor. You hold her, I'll flush.

:D
 
CigDaze said:
It's a bit cold right now...when it warms up in DC, I'm there. It'll be an official SOS party. Stecz will be M.C., Cat and Jay will be the guests of honor. You hold her, I'll flush.

:D
Click to expand...

And I'll drop some kids in for good measure !!!:rofl:
 
I'd like to know more of the details. From what I was hearing/reading - mortgages form investors/speculators or homeowners who were WAY over their head would not really be eligible. I guess what I'm saying is, if someone was in danger of foreclosure because they lost a job or income, or were maybe a little "upside down" on their home value, that's one thing. Hate to see people kicked out of homes, and foreclosures can hurt neighborhood values of solid mortgage payers.

But, I have little tolerance for speculators or investors who expected a major return without the possibility of a major risk/loss...and people who bought WAY over their head and WAY above their means. Economists call it malinvestment. Bad choices - and the only solution is to liquidate the bad investment.
 
Spec homes and multiple home owners wont qualify. Primary residence only. It will cover most people who lost their jobs/took a big income hit and get behind on their payments.
 
the newest trick when getting foreclosed on, is to ask the company to produce the original loan documents... since most of these loans have been sold/changed hands several times,the originals are hard or impossible to locate.. tieng the process up in court for months if not years... and the judge can't kick the people out untill the orignals are presented and the loan validated. I suspect the next step will be after a certain amount of time, if a loan on the house can't be proved, the lawyers will figure out away for the people to get a clear deed. much like zombie debt, you had a credit card charged off 10 years ago, debt has been sold to a collection agency that sold it to another and another etc... the newest collection agency calls you wanting money, you send them a letter asking for validation of the debt, they can't obtain it.. they can keep calling you, but they can't successfully sue you.
 
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