You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.

Latest

Greatest

Lobby

Journals

Options

Help

Reply #5: That was the point for the credit card industry, but it's complicated matters for banking for the... [View All]

Printer-friendly format

Email this thread to a friend

Bookmark this thread

This topic is archived.

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010)

Selatius

(1000+ posts) Send PM | Profile | Ignore

Fri May-23-08 05:51 PM
Response to Reply #3

5. That was the point for the credit card industry, but it's complicated matters for banking for the...

Edited on Fri May-23-08 05:52 PM by Selatius

same reasons. If a person cannot discharge his credit card debt, he is forced into a weaker hand when dealing with a bank over possible foreclosure. With less cash flow available to service the loan, the individual must ask for even more generous concessions from the bank to avoid foreclosure, and if the bank calculates that they could eat the loss and come out with more money than with giving the concessions, they are going to foreclose on him for basically asking for too much help.

Either way, the bank loses. It's just that the former homeowner loses even more.

Printer Friendly | Permalink | | Top

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010)

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home | Discussion Forums | Journals | Store | Donate

About DU | Contact Us | Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.