Sunday, May 09, 2010

STRATEGIC DEFAULT (shut down?) shows homeowners how to walk away from underwater mortgage (as shown on 60 minutes)

So it may be true the RISE in consumer spending is in large part aided by strategic defaults....they then live in house rent/mortgage free until bank gets around to this great or what?

And what value do the banks show on their books? $300K mortgage or underwater price of maybe half that? QUITE A RACKET, you try that kind of math and you're in jail

THAT kind of math sanctioned by our gov, helped get banksters near record bonuses


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