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+--- Thread: How would the free market take care of a 60 year old woman living alone whose home is being foreclosed? (/thread-7639.html)
How would the free market take care of a 60 year old woman living alone whose home is being foreclosed? - 21 year old virgin - 10-12-2012 08:21 PM
She has no living relatives and she is living on pension savings and social security money.
if the bank wants to foreclose her home, would she be on the street in a 'free market'?
don't spew insults or talking points, just give me workable solutions
- Erraticglue030 - 10-12-2012 08:29 PM
She is free to find a job and pay for her house or find a bridge to sleep under. Free market! FACT.
- Elmer - 10-12-2012 08:29 PM
So you're sayign the government should be required to provide free housing for anyone over 60 years old?
If the government automatically bails out anybody who is being foreclosed, then what incentive do people have to keep making their house payments????
Do you liberal retards ever think before you propose some knee jerk entitlement program?
- out2lunch4now2 - 10-12-2012 08:29 PM
In a free market, she would be able to sell her house for a fair market price without losing a large portion of the proceeds to taxation. She could then have the funds to find a more affordable place to live.
- The MobFather - 10-12-2012 08:29 PM
She's living on Government money, she can live in Section 8 Government housing.
You're comparing apples to lawnmowers.
If she's living on SS and pension, she could have enough to pay her damn mortgage !
- Chevy P - 10-12-2012 08:29 PM
Our society has to take care of its own. The free market has no provision for that.
- Anybody But Obama. - 10-12-2012 08:29 PM
In this country. Not yours, I can tell you she has very few and limited options.
1. Reverse Mortgage if she meats the criteria 62 years of age.
2. She could refinance and reduce her payment load. Predicated upon her
limited ability to pay or not to pay.
3. She could short sell. Thus giving her an opportunity to get out from underneath
the debt load.
Just some thoughts.