Stop Paying Mortgage, Live in House for Free While Bank Forecloses: Company Offers Screwed Home Buyers “Walk Away Kit”
January 26th, 2008“Uncontrolled words are consistently more dangerous to established authority than armed forces.”
—John Ralston Saul, Voltaire’s Bastards
Via: You Walk Away:
If you are facing or considering foreclosure, you’re not alone.
—Are you stressed out about your mortgage payments?
—Do you have little or no equity in your home?
—Have you had trouble trying to sell your house?
—Is your home sinking under the waves of the real estate crash?
—What if you could live payment free for up to 8 months or more and walk away without owing a penny?
Unshackle yourself today from a losing investment and use our proven method to Walk Away.
Research Credit: Brad
Posted in Economy | Top Of Page
Here is the most concise and devastating summation of the Bush 2-era U.S. economy I have seen…
http://www.manufacturingnews.com/news/08/0124/art1.html
Why does anyone need assistance to walk away? Seems pretty simple to me. That a business is seeking to capitalize on this, no matter how well intentioned, seems counterproductive.
In California, the case of a 23y old ‘flipper’, Casey Serin, who fraudulently purchased 6-7 houses in Modesto and Arizona, made the news two years ago. Many initially had more sympathy for this cute young white guy for his naivety, while innocently pursuing noble entrepreneurial/profit goals, than for the thousands of working families in the same boat in Modesto. But reading his website, it was clear this guy had a pathological fixation on money-for-nothing capitalism and disparaged work. He had no skills in creating value or services (can’t mow the lawn or drain a pool) and continued to dream new schemes, such as foreclosure guide services- his website was theater where people yelled at him and he’d keep talking like that http://www.news.com/Notorious-debtor-Casey-Serin-shuts-down-blog/2100-1026_3-6188143.html
Kevin – as well as the advice you have offered to people about eliminating debt I’m wondering if, at this stage of the game, people will be needing this more extreme version of the advice as well.
Are ways that, for instance, two families with half-paid mortgages can combine their wealth onto one house and their debt onto the other so that at the very least they can end up with one freehold property. Or even a group of people shift their wealth to a farm that is under threat of foreclosure but which could sustain all of them in the future.
We’re reaching the stage where more and more people are starting to wake up to the mess we’re in, and rather than simply panicing it would be good if there were a variety of things they could do to hold on to what weath they do have.
Quitanus’s comment is a reminder that many present and future “innocent victims” of foreclosure and/or bankruptcy are not regular folks who bought a family home at the top of the market and under bad terms. A sizeable slice of them were speculators or developers.
The difference? The speculators–and the developers, too, who are essentially speculators on a grand scale–were simply engaging in a form of legalized gambling, largely with borrowed money. While one has no great sympathy for them, one has even less sympathy for the folks who staked them.
In theory, capitalism is a system that makes money available for the efficient production of life’s necessities and amenities, that responds to real needs with real production. In practice, capitalism seems to have degenerated into a system in which vast financial resources are squandered in speculation–mere gambling on the speculative advance in asset values that are pumped up by speculation itself.
End result: Production ceases while everyone plows their capital into the casino, betting on an increase in the value of tulip bulbs, land, or housing.
To say that capitalism has “degenerated” to this point is, of course, nonsense. Just about every past boom/bust cycle seems to have had the same cause. Speculative bubbles burst, ending in a recession or depression.
In practice, capitalism turns out to be a system in which resources are diverted from production into speculation, and in which production and the productive worker is crushed in the stampede to get rich from speculation.
The theory is that recessions/depressions end after values recede to the point where they are in line with real economic use-value. A chilling thought. What is the economic use-value of thousands of acres of suburban developments, McMansions, and strip malls–all of which have been dramatically over-built, not because anyone wanted or needed them, but because they were serving as poker chips?