Strategic Default Bubble 2010-2011

[MulaMan]

I believe this is the next bubble, not gold, strategic defaults. Only it is kind of a reverse bubble. Real Estate crash is just starting, by the way.

Lawyer interviewed on NPR:

"Breach of Contract is NOT illegal" - obvious when you think about it but most people think walking away from a mortgage is "breaking the law".

Most popular question currently: "The Bank is refusing to foreclose on my home, how do I make them?" You can't - just hang out and wait. LOL!

nhttp://www.npr.org/blogs/money/2010/...c=pmb-20100130

[Jim Nickerson]

I believe this is the next bubble, not gold, strategic defaults. Only it is kind of a reverse bubble. Real Estate crash is just starting, by the way.

Lawyer interviewed on NPR:

"Breach of Contract is NOT illegal" - obvious when you think about it but most people think walking away from a mortgage is "breaking the law".

Most popular question currently: "The Bank is refusing to foreclose on my home, how do I make them?" You can't - just hang out and wait. LOL!

nhttp://www.npr.org/blogs/money/2010/...c=pmb-20100130

Karl Denninger just wrote a brief piece concerning defaulting on debts.

GET COMPETENT LEGAL AND TAX ADVICE THAT YOU PAY FOR SEPARATELY FROM PEOPLE YOU INDEPENDENTLY SELECT BEFORE YOU CONSIDER ANY SORT OF CHANGE THAT ALLEGEDLY WILL "FREE" YOU FROM DEBT, IRRESPECTIVE OF HOW.
THE FINANCIAL INDUSTRY DOES NOT PLAY "FAIR." THEY HAVE ROBBED THE PEOPLE ON THE WAY UP AND IF THEY CAN GET THEIR CLAWS INTO YOU THEY WILL ROB YOU AGAIN ON THE WAY DOWN.
STATE LAW MAY OR MAY NOT PROTECT YOU AND YOU NEED TO UNDERSTAND EXACTLY WHAT THE CONSEQUENCES ARE OF ANY STEP YOU TAKE, EVEN WHAT LOOKS LIKE A "CLEAN" WAY OUT SUCH A SHORT SALE AGREEMENT!
PAY A COMPETENT LAWYER AND CPA!

http://market-ticker.org/archives/19...Judgments.html