[roccman]

Well well well...

Looks like default by choice is on the rise.

Like I said almost a year ago...default on what you owe...it is the smart thing to do.

Then buy preps with the extra money while you can.

Your FICO means squat in an economy where banks are not lending.

http://latimesblogs.latimes.com/laland/ ... point.html

$this->bbcode_second_pass_quote('', ' ')Homeowner who can't sell his house tells the L.A.Times, "Foreclose me. ... I'll live in the house for free for 12 months, and I'll save my money and I'll move on."

Banks and lenders fear this kind of thinking -- that walking away from a house could be the smart economic move -- appears to be on the rise. Wachovia, in a conference call yesterday, warned investors that increasing numbers of homeowners are walking away from their homes by choice: "... people that have otherwise had the capacity to pay, but have basically just decided not to because they feel like they've lost equity, value in their properties..."

[perdition79]

It should be interesting just how many people in the next few years will become squatters in their own homes. Still, it's a great idea, really makes me question the concept of ownership. Sure, we all know that the bank owns the property when it's foreclosed upon, but the people don't have to vacate of their own free will, they have to be forced. Squatters tend to dig in like ticks, and experienced ones like to lawyer up.

[Grifter]

Someone I know very well managed to drag out the legal process and was in a squat for nearly 3 years. In the end it was only when they were out of the building and returned to find the whole place gutted and boarded. Their belongings were even left on the front lawn for them!

Not sure how possible that would be in the US.

[evilgenius]

Of course, if you have the threat of a KBR camp hanging over your head if they catch you, then the number of squatters might be reduced.

[evilgenius]

Pay your new foreign landlords or we put you in the camps. It is a simple way to incorporate the off-shore dollars with the on-shore dollars. Deflate the on-shore and replace, not inflate those on-shore dollars. When the foreign landlords want their money back they will be told they can have it one month at a time.

[I_Like_Plants]

If you're going to end up losing your place anyway, yeah, stop paying 'em. Don't ring up more debt, just stop paying. And use the extra money, it won't be much, but use it for guns, ammo, survival foods etc. Learn about mortars, insurgent warfare in general. Squat in your house and keep your job as long as you can, but of course that won't last so just enjoy working a 'straight" job while it's there. Get your books at gun shows, cash. Also look online at sites like frugal squirrel etc. Ar15.com is another good one.

The Arabs, Chinese etc are in the process of taking ownership of US banks etc. Our job is to make sure they never sleep safely, anywhere. The single well-aimed shot, the mortar, the timed charge attached to the power line, learn them all. Everything from phosgene to the hilarious bacon bomb is OK in this coming fight!