Florida Couple Upset At NY Times Mortgage Article

It's funny how people are actually angry at these mortgage defaulters.

This is a strict economic decision. They have every right to not pay that mortgage and suffer whatever consequences may ensue. Only those in non-recourse states can really pull this off, and why wouldn't they? If someone close to me were in this predicament, I would advise exactly the same thing. They're playing the same game the banks played.

And what do you think the banks will do in return?

The rest of us will end paying for these shitheads irresponsibility.

Fuck these idiots.

Fuck these idiots.

Douche-nozzles.

http://www.youtube.com/watch?v=P36x8rTb3jI

Peggy Joseph was right!

We're all entitled to the lap of luxury or middle class in this country! Idiots. The NYT picture makes me so upset. Because people engaged in risky behavior, the savers and renters now suffer. We should've never bailed anyone out and dealt with the depression. Now we're just prolonging the pain and creating a bigger problem.

MORAL HAZARD PROBLEM UGH

Yeah.... I'll tell you ONE gothamist commenter who isn't voting for him again in 2012. That is for damn sure.

"the couple also refinanced at the height of the market, taking out cash to buy a truck they used as a contest prize for their hired animal trappers. "

So, essentially these assholes bought a whole bunch of crap they KNEW they couldn't afford and now they want it for free. There's nothing predatory about a bank lending you money for shit you know can't possibly pay for. That's just you being an idiot.

If it sounds too good to be true. It is. If you think it's something you can't afford on your blue collar salary- then you probably shouldn't be buying the four bedroom McMansion and a new pick up truck.

"Records show that Pemberton lost another house to foreclosure in 2001. He says he had a chemicals business that failed, leaving him unable to repay a loan he got to repair the run-down house he inherited from his grandmother.

She later refinanced for $195,000, using the money to pay off house and truck loans and to buy another truck as the prize in a contest for the animal trapper who referred them the most business."

I don't owe one penny to anybody and now I feel stupid for it.

Soooo....the not paying the mortgage part was still true, right? Cause...THAT'S the fucked up part of this. All you clowns think GDP is rising, and consumer spending is starting to recover, but it's all due to bullshit stimulus, borrowing money to pay off our debts, and the money that people like this suddenly "have" and spend. This is going to fuck us so much harder in the long run and these people suck.

See you at the double dip. BACK UP THE TRUCK! I'M LOADING UP ON GOLD!

Yeah, the couple lives in Reyboras' house, which she bought for $135,000. Per St. Petersburg Times: "She later refinanced for $195,000, using the money to pay off house and truck loans and to buy another truck as the prize in a contest for the animal trapper who referred them the most business. But as their restoration work slumped, she stopped making payments last June."

Pemberton told the Times it was not their fault the bank gave them the loan, "They went outside their own guidelines on debt to income. And when they did, they put themselves in jeopardy."

Wait.... she bought the house for 135,000, then LATER refinanced for a higher amount? that's not the typical story. So this was just a home equity line of credit? That probably makes the bank slightly more to blame then, for sure, but this logic is just ass-backwards. Any time you borrow money you put yourself in jeopardy. And any time you decide to stop paying back that money, and have your house foreclosed upon, you screw yourself, the bank, and your neighbors. Nice people.

Lots of people were refinancing for more than the amount of their first mortgage i.e. they replaced one mortgage with another without using a home equity loan or line of credit. All you had to do was convince the bank that your house was worth more than you paid for it.