What is your current Debt to Asset ratio?

[The-Noid]

I don't know how you guys can figure this.. it would take me 10 years to ebay all the shit in this house.

I just placed a nominal value of 0.

 

[gevorg]

Again for people who can't pay. They should be able to default that is the point of defaulting.

The idea you default on your house because you took it out and it didn't appreciate is not a strategy, it is cowardly. I make bad investments, I eat them that is life. Also you aren't screwing Wall Street, look up CDS, you are screwing your neighbors and grandma's savings account, as the bank sold her the accrual and pac tranche to bring in higher income.

The neighbor and grandma should have known better when deciding what to invest in.

Not really cowardly if the system allows it and the sharks find it normal. Sure you can eat it and be the "honor" fish. Don't get surprised when the sharks find it easier to eat YOU. Hey, that is life.

Strategic default was the norm of American business even before the financial crisis. Fortune 500 companies would buy real estate in some city hoping to do expansion/etc, but then change their mind and stop making payments. All while having billions in their savings. Why can't regular Americans do the same if they can? Want change? Start from the top, not the bottom.

 

[Texashiker]

Why can't regular Americans do the same if they can? Want change? Start from the top, not the bottom.

Because businesses are held to a different standard then average working class people.

 

[The-Noid]

The neighbor and grandma should have known better when deciding what to invest in.

Not really cowardly if the system allows it and the sharks find it normal. Sure you can eat it and be the "honor" fish. Don't get surprised when the sharks find it easier to eat YOU. Hey, that is life.

Strategic default was the norm of American business even before the financial crisis. Fortune 500 companies would buy real estate in some city hoping to do expansion/etc, but then change their mind and stop making payments. All while having billions in their savings. Why can't regular Americans do the same if they can? Want change? Start from the top, not the bottom.

Well the idea of the fulfillment call that the bank sells to the mortgagor was for people to default that couldn't pay, your version takes it to a different level. Rationalize it how you want, making decisions and having everyone else bail you out has become the American way, I would expect nothing else.

 

[Chaotic42]

I don't know what my house is worth, but it should be at least what I owe on it, so less than one.

 

[Corporate Thug]

roughly 2:1

 

[Rage187]

1:1

Everything called in would be awash. Maybe 60k in my favor.

 

[Elbryn]

about 1:3 damn mortgage!

 

[GotIssues]

3:4

Pretty much all debt I have is "smart" debt.

 

[Bignate603]

I'm at about 1:1 right now.