[youtube:http://www.youtube.com/watch?v=bEZB4taSEoA]

I love this. Especially the participation of people on the floor. If you mortgaged your home you need to pay it or file for bankruptcy. Your neighbor does not want to help you!

Did you know that the people who walk away from mortgages will still owe the money? True. The bank will eventually sell the home and deduct what they receive from the amount the original owner owed. The original owner will still be on the line for the balance. And for those who seem to want to trash the house as they leave, they will owe for any clean-up to make the house marketable.

Tags: CNBC, mortage bailout, NBC, Rick Santelli

This entry was posted on Friday, February 20th, 2009 at 8:27 am and is filed under Government spending. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.