I Worked, I Paid Taxes – Then the Bank Took My Home

Reads like: "I made poor decisions, over leveraged myself, and then I lost everything... Now I expect others to take the fall."

Lesson learned.

Be super careful who you open contracts with. Marriages are a coin toss. Would you put your total financial health up to a coin toss? Similar point about how much cashflow requirements you take on. (Can you pay the mortgage on your own? Are you ready to take on roommate(s) to fill your ex's place?)

remainder from the article showing this guy just failed to do the right thing:

> "I can imagine that customers are really worried and distressed if they're facing financial difficulty, but they don't have to go through it alone," Ms Hutchins said.

> "The earlier they get in touch with their mortgage lender, the more support and help that that lender can give them and the more likelihood they have of getting back up to date with their mortgage."

> Options offered by lenders, she said, included reduced mortgage payments to allow time to get back on track, budgeting and other tools to understand "their full financial situation" and advice about debt charities and support organisations.

I would like to see the law changed so secured debt (eg. Mortgages) do not become regular debts after the security is sold off.

Ie. You should be able to hand the keys to a mortgage company and walk away debt free.

Likewise you should be able to return the car keys to a loan company and walk away debt free.

Sure, it would mean loans would have to have slightly higher fees to cover the increased risk, but as a nation I think it would be worth it for the productivity gains of not having so many of the population in court over debts.

Interests should be banned, it should be illegal to benefit or have a profit from lending money, they are the only thing banks are after with their infinite money creation trick (aka loans), and also they are the cancer that eats the economy from within and inflate everything up. This should be followed by abandoning the perpetual rent (aka property taxes) that if you don’t pay you lose your “own” house.