What is your level of debt

KassandraLoves · 11-23-2008, 01:40 AM

But seriously? Its not going to matter, soon what debt you have. Because if you cant "pay" the debt when they "call it in" then they would NORMALLY take your assets. Well, what the hell are they going to do with a bunch of empty houses and useless cars and sh*t? Im sure it'd get so wacky that youd just end up in a gray area if the whole country was dealing with the same thing....The bank takes FOREVER to repo a house anyway...and if theres over a million houses that need repo-ing? Itd just be nuts. If the banks crumble, they wont want the houses anyway, is my line of thinking...what the heck are they going to do with them???? Same with cars INMO....

Who the eff knows.

Besides, I think i heard somewhere that if there are mass quantities of empty houses and people living on the streets, that by law you can occupy those houses as to not create huge amounts of homeless citizens while the houses sit empty.

Where did I hear that....hmmm.....

Like I said, I work in financing for a living....so if I hear anything weird is going down with the banks, I will post immediately....

View Poll Results: What is your level of debt
I'm debt free	20	28.17%
Only have my mortgage	15	21.13%
Somewhere in between	20	28.17%
I'm swirling the drain	16	22.54%
Voters: 71. You may not vote on this poll

11-23-2008, 01:40 AM	#9
KassandraLoves Avalon Senior Member Join Date: Nov 2008 Location: WA, USA Posts: 187	Re: What is your level of debt But seriously? Its not going to matter, soon what debt you have. Because if you cant "pay" the debt when they "call it in" then they would NORMALLY take your assets. Well, what the hell are they going to do with a bunch of empty houses and useless cars and sh*t? Im sure it'd get so wacky that youd just end up in a gray area if the whole country was dealing with the same thing....The bank takes FOREVER to repo a house anyway...and if theres over a million houses that need repo-ing? Itd just be nuts. If the banks crumble, they wont want the houses anyway, is my line of thinking...what the heck are they going to do with them???? Same with cars INMO.... Who the eff knows. Besides, I think i heard somewhere that if there are mass quantities of empty houses and people living on the streets, that by law you can occupy those houses as to not create huge amounts of homeless citizens while the houses sit empty. Where did I hear that....hmmm..... Like I said, I work in financing for a living....so if I hear anything weird is going down with the banks, I will post immediately....