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I am a fan of maximum financial flexibility. If a consumer wants to buy a put option on his house then I think he should be allowed to. But I don't see the benefit of forcing him to do so (or the bank to sell him one).
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12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio Regum -
Originally posted by Asher View Post
I don't know why he saved my life. Maybe in those last moments he loved life more than he ever had before. Not just his life - anybody's life, my life. All he'd wanted were the same answers the rest of us want. Where did I come from? Where am I going? How long have I got? All I could do was sit there and watch him die.Comment
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Perhaps things changed last years in USA.
Now is there some way to identify American individuals?
Best regards,Comment
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No, we're all still clones here.
No, I did not steal that from somebody on Something Awful.Comment
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KH: I don't have any problem allowing mortgage-holders to collect on assets other than a house upon foreclosure. As a practical matter, that might clog up the legal system, however. Also as a practical matter, there have been no separate puts available for house prices. As I understand, Case & Shiller created their house price indices in order to facilitate such hedging, but only now are the derivative products rolling out.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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I doubt it would clog the courts. I think it would probably reduce the number of foreclosures significantly.
And personal bankruptcies are pretty straightforward EXCEPT in the cases where there are significant other assets.
Yes, I would like to see more macro markets. Hopefully I'll be able to help in their creation.
12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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The Fed has a check clearing system where the check images are passed around.Originally posted by onodera View PostI came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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It may not. As I recall, retirement savings are at least partially shielded in bankruptcy. Since most people's assets are their homes and their retirement accounts, there may be nothing left. Also, I vaguely remember that not all states are non-recourse.Originally posted by KrazyHorse View PostI came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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If you're looking for modern financial systems, don't look to the US government; the first thing the IRS does with e-filed returns is print them out so they can process them.No, I did not steal that from somebody on Something Awful.Comment
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According to this blog post, mortgages are non-recourse in 27 states, including CA and FL.
I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Whoosh!No, I did not steal that from somebody on Something Awful.Comment
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If there's no other assets then the bank won't pursue.Originally posted by DanS View Post
For cases where it doesn't make a difference there is no additional court costs. For those where it does the person has an incentive to not allow foreclosure.12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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It's probably not a huge issue overall.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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I take that back. It's probably not a huge issue overall, provided that the homeowners have a realistic view of how much their useless **** is worth.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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