O.T. Next financial bubble to burst.

[Tegger]

" [e-mail]" wrote in news: [e-mail]:

Yes it is. The US is completely different. America invented artificial credit in December 1913, and America continues to invent more of it, causing reciprocal infections in other parts of the world.

Nope. Buyers lose their equity, and their credit rating tanks, but they're still off the hook for the remainder. That's how the banks ended up with so many "foreclosed" properties on their books.

Sorry, but it's completely true. It's happening now. Look it up.

Specifically, look up what the FHA is now doing under orders from Congress, and look up how Congress removed the caps on how much low- quality debt Fan and Fred are allowed to buy.

[gfretwell]

The bank still has the right to pursue the former owner for costs and any outstanding balance from the foreclosure sale. (I know someone facing that as we speak) Read the terms of your mortgage it may even be spelled out there that you agree to pay. That is likely if this is a post 2000 loan.

In any case you can get sued for just about anything in the US. Bankruptcy will generally get you off the hook if you can take it.

[krw]

No it certainly is not (any different). You're just showing your cluelessness.

You're simply *wrong*. You really haven't a clue. Just because you turn in your keys doesn't let you off the hook for the remainder of the contract, unless the lender *allows* it. Often they will (short sale) so they don't lose even more, but they're under no obligation to unilaterally release you from your obligations.

You're wrong here, too. Credit is much tighter. Yes, silly things are still being done, but it's not as you suggest.

To cover the banks, yes. They are also going after banks that made (and packaged) bad loans under iffy or fraudulent circumstances. You simply don't know what you're talking about.

[krw]

If you can *get* it. Even bankruptcy is means tested. It's rare that the borrower will get off completely.

[Home Guy]

Crazy-ass federal or state policies like this simply don't happen in Canada, for any type of consumer product or service. Including mortgages.

[G. Morgan]

Than join US! The only reason Candia does not go first is because they expect US recourses, and the Navy there is behind 20+ YEARS COMPARED TO US SHIP/SUBS.

Yeah, we already tested the Canadian response. They go in with few and end up leaving. The US has a different approach... complete destruction of the enemy recourses, leaving no RADAR or satellite evidence. The US military is single-handedly go into a known infested area and cleared it in minutes

[Noahbuddy]

Home Guy wrote in news: [e-mail]:

They probably can't do it because of low population. (grin).

[Kurt Ullman]

I think in FL the Insurance Commissioner said that has to be covered by the homeowners policy (grin).

[krw]

Nonsense. Even if so, are the police going to come out and do it? They won't even get off their butts to throw the bums out. You people are *crazy* (be we all knew that).

There are *many* ways to get into houses, leaving no evidence. *ALL* of them illegal (if uninvited), here. Property rights are rather important to a society.

[krw]

Shifting the goalposts, again, harry?

[Vic Smith]

You're both wrong. Depends on the state. Look up "deficiency judgement."

--Vic

[Home Guy]

No thanks.

Oh brother. There are always bone-heads like you that think that Canada has all these advantages because we leech off the "protection" of the US military. That we are in a better fiscal position because we don't spend billions on our military because we can avail ourselves of US military protection.

The truth is that the US military has and always will be more of a threat to Canada than a support or an asset.

We don't participate in illegal invasions and occupations like you did in Iraq. In Iraq, you performed a political assasination by calling it a war. You have no shame.

Yes - you lie to yourselves and the world because it makes you feel better when you commit war crimes and crimes against humanity in the name of reaching your own twisted geo-political goals.

Then what's taking you so long to wage your "war" in Iraq and Afhanistan?

How many minutes are there in 8 years?

[Home Guy]

Believe that - if it helps you cope with reality.

[gfretwell]

There is some difference between in the house and in the yard but the answer is pretty much "yes". (with the new stand your ground law) If it was at night and the kid brought his baseball bat with him it might not even get to court. You still need to demonstrate that you felt threatened but that is a pretty low bar, particularly if you are the only witness.

[Douglas Johnson]

Be a little slower with the term "lie". He might merely be mistaken. But he's not, entirely. It varies from state to state. My state, Texas, is a non-recourse state. They can foreclose on the house, but can't come after you for the balance. There are other states as well. See

-- Doug

[Douglas Johnson]

You're right, but it was a fairly recent change in the law -- in the last couple of years. -- Doug

[krw]

Good God, you're stupid!

[krw]

Not only clueless, but a damned liar, as well.

[Kurt Ullman]

And, IIRC, it will sunset around 2017 or so.

[HeyBub]

Very few guns are "designed" to kill people. That said, you are arguing from a false premise: there are many people that NEED killing.