An excellent observation.
We ran up what could be called “excessive debt” when we borrowed $520,000 on our mortgage and had to pay $4400 a month.
To some, that is insane. To others, a drop in the bucket. Its all relative.
It was not excessive to us as we were making $222,000 a year. We were fat, dumb and happy and had the world by the balls.
Then the man made greedy Wall Street Whore Recession just happened. And we were sucked into the vortex of the sub prime slime.
Even if our mortgage was only $800 a month we couldn’t afford it! Our income went from $222k to $22k, and that was unemployment.
So, in a way, you did own us and you did pay for us. You see, we stayed in that house for exactly 100 months to the day without paying the mortgage utilizing Trumpian techniques. All legal, but maybe not ethical or moral.
You owned us by forcing us into bankruptcy and foreclosure and you paid for us by the Federal Reserve printing $4 to $10 trillion to bail out the system.
- We were able to walk away because New Jersey is a “non-recourse” state. That means you give up your house in exchange for extinguishing your debts. Thank you Democrats!
In the neighboring state of Pennsylvania, a recourse state, they come after you forever for the money you owe! Thank you Republicans!
In any event it was not fair what happened. We were financially damaged and were devastated, decimated and destroyed. We should have recourse against the whores who caused this and the enablers who allowed it. Millions of us should be reimbursed for our losses due to the criminal activity of the few rich whores.
But no. Obama bailed out the banks and left us twisting in the wind. And no one said a word about helping the victims of the recession (bearing in mind that only a few of these victims were dead beats who received the “liar loans”).
This is why Trump is president.
We all keep hearing “….you are accountable for your actions…”
But the whores got away with murder.