BOA's choice to foreclose was not done on a whim, but was a mistake that they are correcting.
Everything happens for a reason. This homeowner is likely deep in debt with credit cards, other creditors, and their mortgage, and now they're complaining that a mistake is affecting their credit limits..why so they can get deeper into debt?
These people are simply taking advantage of the spotlight of true homeowners who actually were taken advantage of, and don't live off of money that is not theirs.
It's more like the borrower is the one breaking into the car (by borrowing beyond their means), and the lender is the car owner who accidentally forgot to keep the tires properly inflated, so the borrower crashes and blames the lender for the situation.
The reality is BOA made a mistake, which is inevitable with large companies, but the homeowner chose intentionally to act irresponsibility in the first place.
1+2 This is how normal people do things? If everyone jumps off a bridge, do you do it also?
3. I do research when I spend hundreds of thousands of dollars, and make probably the biggest financial decision of my life. This is mainly the reason why so many people can't pay back their loans cause they never read the terms.
4. My credit is actually perfect and I have no debt.
Everyone acts like Bank of America is the bad guy, but it's 100% the homeowners fault.
Number 1: If they wanted home improvements, they should pay for it themselves like a responsible person. They were in debt already according to the article.
Number 2: They were borrowing money to do home improvements and pay off debt. Sounds like a great Ponzi scheme of taking money from one person to pay off another.
Number 3: They took out their loan from Bank of America. I'm glad they did research beforehand of who to borrow from...not.
Number 4: Oh poor babies...their credit limits are being lowered. It sounds like they shouldn't be using credit cards to begin with. Can't they just pay for something within their financial means for once?
The only correct thing they did was turn down the first modification program that had additional escrow costs and home insurance payments. Wow, congrats one smart financial decision out of 100.
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Re: Re: Re: Re: Borrower's fault 100%
Chuck,
BOA's choice to foreclose was not done on a whim, but was a mistake that they are correcting.
Everything happens for a reason. This homeowner is likely deep in debt with credit cards, other creditors, and their mortgage, and now they're complaining that a mistake is affecting their credit limits..why so they can get deeper into debt?
These people are simply taking advantage of the spotlight of true homeowners who actually were taken advantage of, and don't live off of money that is not theirs.
Re: Re: Re: Re: Borrower's fault 100%
It's more like the borrower is the one breaking into the car (by borrowing beyond their means), and the lender is the car owner who accidentally forgot to keep the tires properly inflated, so the borrower crashes and blames the lender for the situation.
The reality is BOA made a mistake, which is inevitable with large companies, but the homeowner chose intentionally to act irresponsibility in the first place.
Re: Re: Borrower's fault 100%
1+2 This is how normal people do things? If everyone jumps off a bridge, do you do it also?
3. I do research when I spend hundreds of thousands of dollars, and make probably the biggest financial decision of my life. This is mainly the reason why so many people can't pay back their loans cause they never read the terms.
4. My credit is actually perfect and I have no debt.
Borrower's fault 100%
Everyone acts like Bank of America is the bad guy, but it's 100% the homeowners fault.
Number 1: If they wanted home improvements, they should pay for it themselves like a responsible person. They were in debt already according to the article.
Number 2: They were borrowing money to do home improvements and pay off debt. Sounds like a great Ponzi scheme of taking money from one person to pay off another.
Number 3: They took out their loan from Bank of America. I'm glad they did research beforehand of who to borrow from...not.
Number 4: Oh poor babies...their credit limits are being lowered. It sounds like they shouldn't be using credit cards to begin with. Can't they just pay for something within their financial means for once?
The only correct thing they did was turn down the first modification program that had additional escrow costs and home insurance payments. Wow, congrats one smart financial decision out of 100.