Responsible Homeowner Revolt

[anonsquared]

See my post #16.

[Squantos]

I own my shack here in Jackass Flats so I can’t make anyone wait for my payment.

I may write the letter anyway and not sign it and drop it off at every bank and loan company in town .

[tomnbeverly]

Maybe you would be better up for a “RESPONSIBLE HOMEOWNERS STAY HOME FROM WORK DAY”

That way you wouldn’t have to take much risk to make a point? hmmmm

[tomnbeverly]

LOL smooth... but we could also adopt a Responsible Homeowner day off to protest the government bailout of irresponsible homeowners...

Obama “we won’t bail our people that bought houses that they knew they couldn’t afford”....

How is he going to judge that... IDIOT.

[hiredhand]

Same with us. We had our mortgage with a very responsible bank whose rating remained 5 stars through this entire debacle. I spoke with a loan officer there just to find out what shape the bank was in and she told me they had plenty of money to lend. Our rates were always fair and they were always upfront with us, so I would not feel right in penalizing them when they weren’t part of the problem.

When sub-prime blew up, our little bank contacted all of its customers and made sure we knew that they practiced fiscal responsibility! They even offered to explain their prospectus!...for those of us who are "challenged" to understand such things!

But if not for these things, I'd do this in a heartbeat!

[Centurion2000]

hmmm .. there’s an idea.

[hiredhand]

Me and SP spent some time with a mortgage calculator at Dave Ramsey’s site and we can pay for the place in “about” three years... sooner if we took all the “fundage” we have stashed for various things, but we don’t touch that unless we have to!

[Squantos]

Agree.... ask yer local bankers about red line fines to see the root of this BS !

[Squantos]

Agree....pay the minimum till this episode in fiscal fascism flies away.....

[maxter]

In watching the TV show Househunters, I have wondered what kind of jobs must these young couples hold that would allow them to purchase 3000 SF homes with 4 bedrooms, 3-1/2 baths, in the $300,000 to $400,000 range.

[papersonusa]

Rather than not pay, just delay the payment until May 1. Make the Apr 1 payment a month late (along with the penalty), and the May 1 payment on time. Watch what happens to the cash flow juggling at the mortgage companies and banks. Don’t know if this minimizes the hit on my credit score. I’ll be current on the mortgage on May 1, still responsible. If this gets attention, maybe another withhold in Oct, when the Fed Fiscal Year starts.

[Oldeconomybuyer]

Don't forget responsible renters who are being asked to bail out these freakin' deadbeats!

[grellis]

No thanks. I don’t want to be as stupid and irresponsible as the 0bomination, no matter what the reason.

[AGreatPer]

"Make the Apr 1 payment a month late (along with the penalty),"

I'm not paying that $42 penalty. This is not a good idea.

[1_Rain_Drop]

I finished paying my mortgage 10 years ago. That leaves me out.

There's got to be another way of doing a protest. A way that won't bite back the ethical homeowners. If a payment is missed no matter what the reason, that would lower us to the same level as the deadbeats.

Maybe pay double monthly to finish paying the mortgage sooner? Just a wild thought.

[HereInTheHeartland]

“are going to withhold their mortgage payments for the month of April to protest government bailouts of irresponsible homeowners. “

A joke I assume.
Missing a mortgage is the quickest way to drop your credit score 100 points immediately.
And preclude you from refinancing for the next 12 months.

It's like picking up a gun to fight a battle, and pointing it at yourself.

[ChoobacKY]

No, I reject your proposal. You are promoting irresponsibility and a dishonorable action. Far better to honor your debts and present a good example of fiscal responsibility for those who desperately need one.

[Paladin2]

"This affects what interest rates you will be offered/charged on future purchases or credit lines."

Not a problem if you don't buy on credit or anything where they now use your CR for ratings (car ins?)

[nagdt]

I love the idea of just saying no to April’s mortgage payment...but nobody’s going to shoot themselves in the foot. I think a better idea would be to put our feelings out there and stage an “I’M NOT SPENDING A DIME WEEK...screw your bailout”. No gas, no clothing, no fun, no iPhones, no movies, no dinners out no extras at all. ONLY what you absolutely cannot do without. It would not only send a message to the O, but American businesses would really feel it... and maybe at that point, we could be heard - without putting our families at risk.

[blaveda]

You are promoting irresponsibility and a dishonorable action, however ACORN is suggesting an equally irresponsible and dishonorable act; that “home owners” create havoc by not leaving their homes that have been foreclosed on...they are suggesting nation wide acts of civil disobedience. Do we really want to follow the lead of ACORN?