Why doesn't the gov't just seize people's houses..

[LC EFA]

Everything is fine in DUmmy land if it's just soaking the rich ..

Suggest something that might effect a DUmmie in person and they soon fight back.

Sometimes an idea is even too stupid for them to consider.

ddeclue  (1000+ posts) Fri Mar-06-09 04:41 PM
Original message
OK... why doesn't the gov't just seize people's houses by right of emminent domain and then give
   
them to the homeowners and tell the banks to go **** themselves?

Bet you if Obama and the Congress did THAT the banks would be in a hurry to negotiate more reasonable terms with their borrowers.

If we are giving money to bail ourselves out of this mess why not just use that money to directly pay off the loans and give the homes outright to the person living in it?

Let the money trickle UP for a change and if the banks and stockholders and insurance companies that gamed the system to screw us all for the last decade by inflating home values and making bad loans and insuring them have to "take one for the team" then tought sh*t.

Doug D.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x8248530

Holy freaking sheet.

and you people called Bush a fascist..

declue  (1000+ posts) Fri Mar-06-09 04:48 PM
Response to Reply #2
3. Hey just is what we say it is...
   
and right now they couldn't get 5 cents on the dollar for the vast majority of this distressed real estate so pay them 5 cents on the dollar and tell them to get lost.

How's about I bust into your house and take your crack stash (at the point of a gun) then offer you $0.05 on the dollar ?

Doesn't sound so good now does it ?

jody Donating Member (1000+ posts) Fri Mar-06-09 04:51 PM
Response to Reply #3
6. Be careful, what goes around comes around and Repubs will eventually again control the White House.

You think the adults might be a little peeved when they get back to clean up your mess do ya ?

Nicholas D Wolfwood  Donating Member  (1000+ posts)  Fri Mar-06-09 04:48 PM
Response to Reply #2
4. Quote from OP:
   
"why not just use that money to directly pay off the loans and give the homes outright to the person living in it?"

That would be a Very Bad Thingâ„¢.

jody  Donating Member  (1000+ posts) Fri Mar-06-09 04:53 PM
Response to Reply #4
8. So why should government take my tax dollars and buy a house to give to someone else? n/t

How are your tax dollars any different from the tax dollars extracted from the "rich".

cottonseed  (1000+ posts)  Fri Mar-06-09 05:17 PM
Response to Reply #2
17. If the banks are nationalized. Is it still private property?   Updated at 4:45 PM

Hey cool, your house is no longer private property. I'ma be there friday night, with the lads and a tanker truck full of beer. Hope you won't mind the noise.

sufrommich  Donating Member  (1000+ posts)  Fri Mar-06-09 04:49 PM
Response to Original message
5. Let's tell all businesses to go **** themselves.   Updated at 7:19 PM
   
What could go wrong?

...I hope you just forgot to put the </sarcasm> tag in there old buddy.

alcibiades_mystery  Donating Member  (1000+ posts)  Fri Mar-06-09 04:52 PM
Response to Reply #5
7. Let's establish a situation in which nobody is comfortable loaning money ever again
   
Edited on Fri Mar-06-09 04:53 PM by alcibiades_mystery
That'll solve the problem right up! Sure, nobody would lend at under 23% given the risk of sudden contract void by the government, but at least we'd feel like we were DOING SOMETHING RIGHT ****ING NOW!!!!!



Teh stupid. It hurts...

You must be in constant pain.

Uben  Donating Member  (1000+ posts)  Fri Mar-06-09 04:58 PM
Response to Original message
10. Banks have to pay back the loans.....
   
Giving people homes would be like throwing money away! I'm not going to pay my taxes for someone to get a free home. I worked and paid thirty years to own my home, and I expect everyone to do exactly the same! If you want a house, get your credit in good order, save the money for a down payment and buy one! That is how it's done. There is no alternative.

Lousy Freeper Troll.

On the Road  Donating Member  (1000+ posts)  Fri Mar-06-09 05:06 PM
Response to Original message
13. Well, the First Thing That Would Happen
   
if this were done on any scale is that the banks would all fail. Then economic activity would pretty much stop. That would pretty much put the country on the road to third world status.

That would be "mission achieved" for some of your fellow inmates.

onenote Donating Member (1000+ posts) Fri Mar-06-09 05:16 PM
Response to Original message
15. why don't you pay off your next door neighbor's mortgage?
   
Sort of the same thing as what you are proposing, isn't it?

Silly primitive, only the "rich" will be paying off the mortgages of their neighbors.

[DumbAss Tanker]

Hey DUmmies, even with eminent domain they have to pay 'Fair market value' for it, thanks to that pesky Fifth Amendment thingie.  And that doesn't mean just the outstanding principal, it means the entire amount, which is a Hell of lot more than 5 cents on the dollar - even in depressed markets, it's probably 66-75% of the high.  The mortgage holders DO have priority security interests though, and they'll make more off this than they'll lose, the losses will primarily be absorbed by the occupants because of a forced sale with the market at the bottom.

[TheSarge]

Deep down inside each and every one if them is a goose stepping fascist DYING to get out.

[Carl]

A dose of reality for all you DUmmies....even if the commies did seize all those properties they wouldn`t give them to you worthless cretins to destroy and run into the dirt.

[Traveshamockery]

A dose of reality for all you DUmmies

It would take multiple doses over multiple years for the DUmmies to come even close to reality.

[djones520]

Deep down inside each and every one if them is a goose stepping fascist DYING to get out.

There actually seemed to be a number of posts in there talking about how bad an idea that is.

[TheSarge]

There actually seemed to be a number of posts in there talking about how bad an idea that is.

There is always a handful...but they always get shouted down by the majority.

And just because they sound rational on this subject...doesn't mean their fascist underpinnings won't expose themselves elsewhere. LOL!

[Peter3_1]

All but the most rabid understand that making a contract , such as a mortgage, voidable at the whim of third parties not in the contract. Even they can see "Danger Will Robinson, Danger!" , except for the fanatics so clearly on display.

[Attero Dominatus]

Scratch a liberal, find a fascist.

[Lord Undies]

What to do???  I'm sitting in a house worth $120,000 dollars and I still owe $28,000 on it.  Should I stop paying my mortgage and hope the Obamanation pays it off for me? 

I'm so conflicted.

[Peter3_1]

Alternately, after I got out of the hospital on 2/4/2005, I began to sell. Stock, realestate, every damned think I owned was on the market. And, just before the "tipping point" 24 months age, I was down to my home, and my sons two homes as my only non liquid assetts. The "cash" was in tax free municipals at 5%, STUPIDLY in a fund rather than a personally controled bundel. NEVER listen to your broker!!!! So I took a 10% hit, and now have everything in cash. We are planning on paying off the mortgages completely, why pay 4 1/2% int while earning 2% on the cash?

Next week, we'll get the payouts and get that out of our lives. If we need additional cash, we can reverse mort our primary residence, hell, the LOT is worth 10 times, even in this crap market, what we paid for the lot WITH the house!

And I'm thinking of BUYING SOME STOCK, YOU KNOW, like Energy Transfet Partners, El Paso Pipeline Partners, etc etc, all the guys who bring you natural gas, who get paid by the million cubic feet transported regardless. Yes, I really like that idea.....

[FlaGator]

Hey ddeclue! Why don't you load me a hundred dollars? I'll use this $6.95 baseball as collateral. I promise to pay you back a dollar a month. If I find that I can't pay you back you can come and get the baseball. How does that sound?

[The Village Idiot]

There actually seemed to be a number of posts in there talking about how bad an idea that is.

the ones that actually work(ed) and paid something for their homes are easy to spot in this thread. The ones with not even a passing familiarity with common sense are easy to spot too.

[jukin]

Oh my!!!

According to the constitutional scholars at the DUmp, we can add the Fifth Amendment to the First and Second as being out dated.  In addition to taking property away from the productive and responsible it would make it easier to put the same into reeducation camps.

[ReardenSteel]

Deep down inside each and every one if them is a goose stepping fascist DYING to get out.