Comments on: Comments on Comments #9

By: Francois Tremblay

Francois Tremblay — Sat, 15 Mar 2008 18:46:14 +0000

Damn homeowners, how dare they want to own homes? I wish people would just be content with their low station in life.

By: David Z

David Z — Fri, 14 Mar 2008 18:36:08 +0000

Logan,

You’re a day late on this, but I’ll respond to you in the next edition of “Comments on Comments” due out whenever early next week.

By: Logan Flatt, CFA

Logan Flatt, CFA — Fri, 14 Mar 2008 13:20:23 +0000

Ah yes, these homeowners are using the ol’ shirk-my-financial-obligations strategy I see…

By: David Z

David Z — Thu, 13 Mar 2008 17:00:55 +0000

I don’t think it’s a rumor anymore. I have a friend who used to be a mortgage lender and he knows of people who had done just this sort of thing a few months ago. So there’s at least one family who’s done it!

By: Tony

Tony — Thu, 13 Mar 2008 15:36:46 +0000

I’ve heard of homeowners in my area buying a second home and then abandoning their current negative-equity home. Just rumor? I don’t know, but it matches the idea that the bank can’t come after other assets because the original house secured the note.

I imagine that would be less likely now, given that (I assume) banks are wising up a bit. But that’s an assumption.