I watched the video and looked at the sites of the people who made the video. The defender made two points. He made a big deal about the sherrif getting paid to serve the papers. Also made a big deal about something in their constitution that said you couldnt mess with a guys home.
Originally Posted by coolwhip
After looking at the websites and listening to the video again, I beleive the homeowner got behind on his mortgage. The sheriff said he wouldnt be there if the mortgage was being paid. Mr smooth talk said "the bank has been paid" which I beleive is a reference to a bank bail out similar to ours.
Im sorry the guy is getting foreclosed on, but if you cant make your payments why should you be able to stay? The only reason I could get from Mr smooth talk is because its against their constitution to go into a guys house, and if you cant go into the house you cant really kick them out for not making the payments.
Ironically, Ive not heard one person complain about getting foreclosed on in the usa, but Ive heard lots of employeed people current on payments walking away from their homes because they owe more than they are worth. Often hear something like "the banks got their bailout, its time for mine" as they rationalize walking away from their responsibility.
I own a modest house which I had paid off when I was 40 yo. I hate to see people struggle, but I am easily annoyed by people who think they should be able to stay in their homes even though they aint paying the man.
Adn the "man" happens to be us either directly or indirectly. Next time you get your saving/bank statements and don't get your interest then don't complain. If the bank doesn't get the payments from customers who borrowed the banks money...our money..then how can they pay us interest and pay us back our money?
Originally Posted by bigtime
"The American Republic will endure until the day Congress discovers it can bribe the public with the public's own money.
- Alexis de Toqueville, 1835
I thought the guy talking was the home owner. (for some reason the guy talking reminds me of jessie jackson with an accent. Look at some of the websites listed at top of the video and you prolly will to) I dont think the home owner is a bum. He just got behind on his payments, as stated in the article below. The banks will stop lending money to people if they arent required to pay it back. And then only the rich will own homes.
Originally Posted by jmac00
Without the banks to lend mortgages to buy homes, the value of existing homes property will drop as less people will be able to buy houses. After the prices drop low enough, more people will be able to save up cash to buy their homes.
Without a mortgage, people will not be able to build such huge homes. Many home building companies will go out of business. People will have to build their homes in stages and then build much more modest homes than they would have with a mortgage.
It is past history and current fact. There are people today who refuse to get a mortgage and build a very small house and expand it as they earn the money. They never go into debt and have a home they can afford. This behaviour seems so bizarre to many because it is outside of the corporate-banker-consumer-debt processes. It avoids the debt slavery many of us get trapped in.
I think the talker in the video has a point, however the point is a red herring that distracts away from the central issue. Did the home owner borrow the money for the home, pledge the home as collateral for the debt and fail to pay it back?
“I am for doing good to the poor, but...I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it. I observed...that the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer. And, on the contrary, the less was done for them, the more they did for themselves, and became richer.”
― Benjamin Franklin