{"id":1199,"date":"2011-10-25T19:49:12","date_gmt":"2011-10-26T01:49:12","guid":{"rendered":"http:\/\/stardel.com\/eg\/?p=1199"},"modified":"2011-10-25T19:49:12","modified_gmt":"2011-10-26T01:49:12","slug":"if","status":"publish","type":"post","link":"https:\/\/stardel.com\/eg\/2011\/10\/if\/","title":{"rendered":"If"},"content":{"rendered":"<p>If you have an underwater mortgage, say $120,000 mortgage on a house that is assessed at $80,000, and you are making the mortgage payments on schedule, and you ask the bank to refinance to a lower rate and the bank can&#8217;t do that because you are asking to finance a loan that is greater than the collateral, does this make sense? You&#8217;re still willing to make the payments on the $120,000 amount but you would like to pay at today&#8217;s interest rates.<\/p>\n<p>Why can&#8217;t the bank work with you on this? The fiscally responsible action is for you to walk away from the loan, leaving the house and the debt in the bank&#8217;s hands. This is what all those Wall Street entrepreneurs would do. Of course it isn&#8217;t the ethical thing to do, but what do ethics have to do with fiscal responsibility?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you have an underwater mortgage, say $120,000 mortgage on a house that is assessed at $80,000, and you are making the mortgage payments on schedule, and you ask the bank to refinance to a lower rate and the bank can&#8217;t do that because you are asking to finance a loan that is greater than &hellip; <a href=\"https:\/\/stardel.com\/eg\/2011\/10\/if\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">If<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4],"tags":[],"class_list":["post-1199","post","type-post","status-publish","format-standard","hentry","category-economics"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/s4NpF-if","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/posts\/1199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/comments?post=1199"}],"version-history":[{"count":2,"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/posts\/1199\/revisions"}],"predecessor-version":[{"id":1201,"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/posts\/1199\/revisions\/1201"}],"wp:attachment":[{"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/media?parent=1199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/categories?post=1199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/tags?post=1199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}