Foreclosures

I am not completely torn on this issue, I think it is delicate and must be handled with care, but at the same time I think both sides of the argument are getting away with murder.

Banks are inherently evil, especially Chase and Citi Bank. It doesn't matter what the banks do wrong they seem to get away with murder in this country. The same goes for all other major companies, look at the oil companies.

The obvious aside, I don't understand or see why it is okay for individual home owners who knowingly got into something they couldn't afford to sit on their hands and not pay their mortgage, living rent free, while all the people who made the right decisions have to keep paying. I don't think there should be forgiveness here.

First and last error most people make when dealing with housing is treating it as an investment. WRONG, it is not an investment, it is a place where you live. Unless you have the money to flip houses, you should not do it. If you cannot afford two mortgage payments, then you should not own two houses. This isn't rocket science.

Here is the simple black and white of this issue:

You signed a contract with the devil, it says you owe X amount of dollars for Y years. You cannot back out of it even if you cannot afford it. End of story. You made your bed now sleep in it.

The flip side is the loan companies and banks should stop being assholes and start helping too. They have caused nothing but distrust and havoc.