Sat, Oct 25, 2014, 12:27 PM EDT - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

Corning Inc. Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • denclyde denclyde Sep 20, 2008 8:29 PM Flag

    Once again the hard working taxpayer....

    They are the ones who went out and purchased a house that was way beyond their means

    Fiz-don't get me wrong here--I am not really critizing you but---let's just look at the heading on your post--Once again the hard working taxpayer....

    Now I assume you are hard working & a taxpayer !!

    The people that took out loans to buy these homes are also hard working & are taxpayers !!

    When businesses take out loans & they go sour--the business simply files bankruptcy & walks away---they keep all the valuable assets & stick someone/us with the debt !!

    When a private "hard working taxpayers" investment goes sour--he can't just go bankrupt & walk away!!

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • >>>>When a private "hard working taxpayers" investment goes sour--he can't just go bankrupt & walk away!!<<<

      Since when can't he just walk away? That's exactly what is happening here (I'm assuming you are referring to a house as his "investment")--the ones who can't make the payments are defaulting and walking away, sticking us w/ the bill.

      • 1 Reply to fizmokat
      • the ones who can't make the payments are defaulting and walking away, sticking us w/ the bill.

        No--he is actually still on the hook for the balance of what that house gets sold for vs what he owes, plus fees, processing fees, acumulated interest, & cost of selling !! the interest that he has paid to the bank is gone, the amounts he put down, the loan originating fees, the processing fees, the points etc, etc that were either paid up front or were processed into the loan are gone--his credit is also ruined---but the bank kept all the fees, the interest, etc--& is now going to sell that defaulted loan & property to the Gov (us)

 
GLW
18.80+0.12(+0.64%)Oct 24 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.