John Burchardt

Tom, I totally agree with everything you stated here, but I'd like to take this arguement just a little farther...why do we as consumers have to notify any bureau that they are reporting bogus information? My solution is for individuals who have had bogus information reported about from these institutions to band together and file a class action liable suit! If a news paper, TV, or internet blog posts bogus information about someone, they will be in court on liable & slander suits...the credit bureaus have a responsibility to fully investigate all the facts before they issue a report, but they do not do this. It's a simple procedure, call the person and ask, "We just received a notice from Bank of America that you were late with last months payment...is that true?" This puts the responsibility on the bureaus to say we verifed the facts before we printed them up and distributed them to whomever was making the request. Imagine going to a doctor who tells you, "According to your records, you had your leg amputated, so because I see that you have a leg now, you will need to get me some confirmation that you in fact did not have your leg cut-off...as soon as you can prove that to me, I'll be more than happy to treat that hearty attack your having!" In all honesty, what's the difference? John Burchardt LocalHomesForSale.com

And we wonder why people don't trust real estate agents! John Burchardt LocalHomesForSale.com

There's no need to play the blame game, because everybody in this game is a winner. The bottom of the professor's writing is to view your family as a business, and to do what's right for your business. If walking away is the best thing you can do for your family's welfare, (business) so be it. If the lenders wanted too, they could easily avoid foreclosure costs, by deferring the loan and collecting only servicing costs, typically no more than $150/mo. But they're greedy, they want whatever they can get now, is that really smart business? Now if we look at the family business, this is a no brainer, stop paying, stash the cash, and prepare for the move when the court proceedings finally end. Now you have capital for the move and to restablish a new foundation for the business. Now that is smart business! Basically we all need to remember that, "The rules are written by those who have money, for those who have money." I find it absolutely ironic that the authors of the rules are upset because average citizens decided to read the rules and then play game! John Burchardt LocalHomesForSale.com