Re: Can't pay? Just walk away.

>Screwed up your mortgage? Made all the wrong choices? You lucky real 
>estate investor, you STILL made the right choice! Thanks to recent 
>federal Debt Relief Legislation, by just walking away from your 
>overpriced speculative loser property and your lender, your credit can 
>recover faster than you can say "Bankruptcy? What's that?"

Personally I think its wrong that Americans allow  private companies
(the credit re****ting agencies) keep secret  files on citizens that
determine whether they are "credit worthy or not" and largely
determine what they will pay in interest charges for credit cards,
mortgages, etc.

What if you walked into a grocery store that charged high or low
prices for the same item dependant upon the the race or gender of the
person making the purchase? Nobody would put up with that...

The credit issuing companies are perfectly right in denying each
applicant credit or not, but if credit is granted...  Everyone should
pay whatever market rate is in effect at the time.

It makes no sense to declare someone a deadbeat and then say "for you,
you get a 9%, 10%, or 15% mortgage when every else is paying 5 1/2%
or, we will start you at a low rate for a year, but after that, you
are going to pay bonzo big bucks at twice or three times the market
rate.

Beachcomber