# So it looks as if Blanket mortgage forgiveness is a No No



## TOFFEEPOD (12 Oct 2011)

According to this article, it seems as if a solution is getting near and it won't be Blanket mortgage forgiveness...[broken link removed]


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## SteveW9 (13 Oct 2011)

and thank God for that I would be furious if I had to pay extra to cover people who overextened themselves in the boom times


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## onq (13 Oct 2011)

While I started a thread to discuss Universal Mortgage Forgiveness, it didn't stop at over-borrowed mortgagees, but included everything.

It was a Reboot of Capitalism essentially and didn't find much favour here.

The subset - forgivness for the over-borrowed - was rejected by most.


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## demoivre (13 Oct 2011)

SteveW9 said:


> and thank God for that I would be furious if I had to pay extra to cover people who overextened themselves in the boom times



You are already paying extra for the bankers who recklessly overextended their loan books.


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## Firefly (13 Oct 2011)

demoivre said:


> You are already paying extra for the bankers who recklessly overextended their loan books.



And we can't even afford that, nevermind the rake of people who will want a bailout....2 wrongs...


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## truthseeker (13 Oct 2011)

Firefly said:


> And we can't even afford that, nevermind the rake of people who will want a bailout....2 wrongs...


 
The people who want a bailout will be getting one off the back of the taxpayer one way or the other.

Either the government will help people in trouble with their mortgages, or those people will end up losing their homes, on a housing list, getting rent allowance, drawing social welfare etc...

You cant get blood from a stone. Regardless of the reason, if people cant pay their mortgage, the state will end up supporting them in some manner anyway.


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## NorfBank (13 Oct 2011)

SteveW9 said:


> and thank God for that


 
Yeah, serves them right, the greedy so and sos.

I'll see you at Mass and we can pray for them instead.


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