Banks pay homeowners to short sell.

[The Big Daddy C-Master]

So now the banks are paying the losers to leave the houses they had been milking for years? I guess this means cheap houses for the rest of us.

money.cnn.com/2012/02/10/real_estate/short_sale_incentives/

[navycorpsman]

I noted the article said nothing about what would happen to credit scores, once the bank writes off the excess debt. That stays with these prospective housesellers for seven to ten years.

[The Big Daddy C-Master]

Feb 17, 2012 0:33:32 GMT -5 navycorpsman said:

I noted the article said nothing about what would happen to credit scores, once the bank writes off the excess debt. That stays with these prospective housesellers for seven to ten years.

People that far in the hole just don't care anymore, they feel that it's "free money". Everything comes at a cost. I'm just glad the bank is doing it, instead of the government.

The free market works better this way, and the people who weren't fiscally smart can go back into crappy apartments where they should be.

I don't think they should get anything, but the banks made stupid decisions too and should pay for it.

[navycorpsman]

Victimhood, the great equalizer.

[The Big Daddy C-Master]

Yep, it equalizes people from their own responsibility.