Obviously the current situation with home foreclosures is unprecedented. Anyone can see that, but what is being done about it? You hear about government money that should be set aside to "bail" these people out. My question is why? The people and lenders put themselves into this situation. I would say for the most part the lenders/banks have paid the price and have corrected the issue on their end internally and in the financial markets. Have the actual borrowers paid the price??? Most people who got these "bad" loans got them because they had crappy credit in the first place and now that they have foreclosed, their crappy credit got a little more crappy, wow, big deal.
There are stories now of these people trashing their homes on purpose and making them almost inhabitable. What is being done about those people? They are ruining beautiful communities and bringing down property values of responsible people around them. Something should be done to those people who are going to destroy their house. Legislation should begin to address this madness. I'm sure there are some exceptions that people just fell on hard times, but the majority were people buying to make a quick buck and lost their shorts.
What are some of your stories/thoughts about this?