i love alternet
December 27, 2009
10 Ways to Screw Over the Corporate Jackals —
Who’ve Been Screwing You
1. Mortgage underwater? Just walk away from it. Even academia says it’s OK. Move to the city and rent.
“Homeowners should be walking away in droves,” University of Arizona law school professor Brent T. White told the Los Angeles Times. “But they aren’t. And it’s not because the financial costs of foreclosure outweigh the benefits. One can have a good credit rating again — meaning above 660 — within two years after a foreclosure.”
In a scholarly paper called “Underwater and Not Walking Away: Shame, Fear and the Social Management of the Housing Crisis,” White tells cash-jacked homeowners that they can return the screw.
We’ve been championing that course for years, with reports on walkaways and trashouts, as well as violent homeowner blowback. Hell, we called the Great Recession before most did, and we’re still calling it another Great Depression in the making. So trust us. And if not us, then take it from the professor, who will soon be joined by a chorus of similarly credentialed whistleblowers as the financial crap truly hits the fan in the years to come. Go ahead, move back to the city and rent. You’ll end up there anyway when your suburb runs out of water and malls.
2. Unplug your cable. The easiest way to kill the so-called news networks is to cut them off at their enablers. Don’t like the hate spewed by Rupert Murdoch’s News Corp nutjobs? Pull your cable bill’s plug, or shut down your satellite. Tired of the way that Reality TV, in entertainment and otherwise, has replaced reality itself? Withdraw life support….