Romney: Let Them Get Foreclosed On So Investors Can Buy [VIDEO]

Presidential front runner Mitt Romney can’t understand why everyone is so uptight about the “housing crisis.” After all, it’s really a great opportunity.

You know, for investors.

Speaking to the major Las Vegas newspaper before the Nevada debates, Romney stated that no one should be working on a way to help homeowners keep their homes.  Instead, they should just get foreclosed on.  That way, investors can pick up houses at fire sale prices and just rent them to the former home owners instead.

It’s a magnanimous approach from a man who just announced plans to quadruple the size of his mansion in California.  For homeowners desperately underwater, not so great.  They not only lose all of the money that they have already spent on their home, but they will be at the mercy of investors who can pick up their residences for cheap and set up any sort of rent they want, knowing they have a new glut of renters who have no option to buy and no hope but to find a place for their family to rent.

Then again, if Romney thinks I should just let my house be foreclosed on to provide a better opportunity for investors, maybe I should take him up on the offer and stop paying my ridiculously underwater mortgage.  If he sees no issue with glutting the housing market with even more worthless houses, I guess I don’t, either.  Let the banks get stuck with my “asset” and try to find someone to take it off their hands.

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Photo from IowaPolitics.com via flickr creative commons

220 comments

Graham Hyatt
Graham Hyatt7 years ago

Perhaps Romney will one day have a disaster, and find himself penniless?

If he does, I'll give him a Canadian penny. What say you?

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Martha Eberle
Martha Eberle7 years ago

I don't listen to any of the repub debates or statements on t.v. -- I know their position: "I am special, and you are not." So there's not a chance in hell, that I would ever vote for a repub. Also I'm from Texas, so I already have lived under one of the kookiest of the candidates, but Romney was supposed to be the sane one!!

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Charlene Rush
Charlene Rush7 years ago

The Republicans have become so conservative and they are no longer HUMAN, any more, nor are they Christian. They talk about relilgion, but do not practice Christ's teachings. They talk about the Constitution, but do not understand its meaning and want to change it.

In recent years, I have been leaning more to the middle, with a few conservative ways of thinking. The current GOP, has turned me off to such an extent, that I can't comprehend anyone, who cares about the welfare of the less fortunate, wanting to follow them.
Quite honestly, I don't believe that Romney wants to follow them, in many respects, but he is forced to do their bidding, if he wants their endorcement.

Let's end the 2 party system, and incorporate a 5 or 6 party system, as is done in Europe. This Pepsi and Coke mentality has to stop. They keep everyone else out of the race.

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bob m.
bob m7 years ago

Had a friend fargoed into a mortgage balloon from 40 to way over 100 thousand .
She had to sell finally at a value which left her bankrupt and about 1000 dollars to her.
They got fast $$$ large outa this deal and broke a heart...... ah ...capitalism...ain't it great? vegas?

Beware ...sharks.

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bob m.
bob m7 years ago

Deception largely responsible... but the ways of play here are highly valued... a web network of vampie corporate players with a cherry on top called Romney...
Let them die... he says; they have made mega billions within and after this scam... now the tomb door of this is open for us to see and smell the stink .
It is "patently" ovious that in this AMERICAN game, if you get hustled (monopoly) and are dying by the roadside you are nothing but a looser. No wonder so many "evangelical " personalities talk about money and gold ventures.... WUSUP?

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Victoria M.
Past Member 7 years ago

what a piece of shit. nothing good to say about this idiot.

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Janice S.
Janice S7 years ago

He is a total jerk.
But I have to admit that there are some people who deserve to lose their houses. I have seen first hand how some people trash their houses because we had been the ones to come and "trash out" some foreclosed homes. One family left a dog behind with who would have died if my sister in law had not found it.

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Karen Hendrickson
Karen H7 years ago

Don I----I am no numbers wizard but long ago I had chatted to others about something similar to your 2nd paragraph regarding restructuring the loans and lowering interest rates on them.That to me seemed a much wiser use of money, or not even that so much but a much wiser thing for banks to do rather than have the glut of homes handed back to them, and kill the entire market. All would have benefitted from doing that. neighborhoods would have stayed in tact. Spending would have gone on for keeping up the houses, and shopping the neighborhood stores etc. Lives wouldn't have been shattered. The oones that will benefit in the long run are the realtors who get to re-sell the homes. (That is of course if they are able to hang in there until the market shapes up again). GREED---it was all about greed. I wouldn't doubt that those same realtors lost THEIR homes because they lived it up while getting people into the houses they couldn't afford, but now their livlihood is in the toilet...for years. How can the consciences deal with these problems? Knowing full well that when the loans ballooned the folks wouldn't be able to afford them. I am glad that I wasn't a part of that time in history for the United States of America. To be in history books for the rest of time as the GREEDY generation. Sad..it's all sad. God has obviously been taken out of too many thoughts and places.

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Nancy L.
Nancy L7 years ago

Thanks for posting.

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Catherine Buchanan

obama didn't start the "too big to fail" garbage. that was bush and war criminals inc, giving out our tax dollars with absolutely no accountability. it was a raid on our tax fund and a deliberate land grab. the banks could have restructured if they wanted to. they are the ones that control the interest rates and equity. the problem is they want more profit. what they would have made wasn't enough for them. all loans have interest rates tied to them. they still would have made their profits even with a 1% interest rate. but, again, that's not enough. why does the home owner have to make up for the "supposed loss of profit" as was predicted by the futures market? that is complete and 100% utter bullshit.

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