May 5, 2009 journal, NBC can you walk away from your mortgage and your credit cards on the Today Show. Yes! "Millions now in America owe more on their mortgage than the house is worth". They did not advise people against walking off & leaving their mortgage with the bank, forget about your credit rating is what I understand from their report today. Also Pat Roberson on the 700 Club has said basically the same thing. Tax penalties was discarded a year ago according to their report for the difference between your home worth and your mortgage which was crazy to begin with. They said it would only be reported against your credit for 2 years and if you walk off and leave your mortgage your credit cards will still work but they may raise your interest. I would not recommend anyone pay or make any payment on credit cards if they raise the interest or if they are charging you more than 7 or 8%. It is time the banking lobbyists be broken up, for the banks to get a taste of their own medicine. The bailout and stimulus money is gone but the banks are still failing and the worst is yet to come. Do not waste yourself trying to protect your credit when there is no future money to borrow anyway. If you wish to keep your home then negotiate with the bank because they know they are going to lose about half the mortgage any way so they may be willing to cut your mortgage in half to avoid the legal expenses of foreclosure and repair of your home which they are now aware of. Make sure to get a substantial cut in your monthly payments as good insurance you can pay it off. It is now a real buyer's market and not a seller's market as it has been for so long. The bank customers are now in the driver's seat for the first time can possibly set their own terms. So long as there is no money to loan the public the price of houses and cars will continue to decline. Demand a low fixed rate of interest that will last until the mortgage is paid off. Never feel sorry for those crooked banks who got all that bailout money but did not use it for what it was intended. They just robbed the taxpayers and they had make you the loan based on a ratio of $40 to one. For every dollar they had they loaned to you 40 dollars. The most you could conscientiously owe them is $1 for every $40 they originally loaned. It is time now for the credit bureaus to be broken up and stopped from selling your credit information: which has proven to be incorrect about 20% of the time. This has been a noose around people's necks for so many years now and you're paying for it in long run. Wake-up America, stand your ground over banks by not letting them bully you around. The banking business is a bloody ungodly business marketing all those demonic symbols. The banks did not lose all their money financing cars & houses but in sleazy investments. They went out after derivatives trading to get rich quick by cheating and trading nothing. In my opinion no American citizen owes any bank anything on mortgage or credit card. Free the American people now from this curse of the banking conspiracy to defraud us. One homeowner is reported to have negotiated her interest rate down to 2% per annum. After all the bailout and stimulus money paid banks, they should mark all debts paid off. where does the government get all that money? They print it but ultimately the taxpayer must pay it back in taxes even though we all know the taxpayer can never really pay all that money back especially without a job. It is time to dump the federal debt back onto the Federal Reserve international banking conspiracy because it is all phony anyway. Send the Illuminati up the river without a paddle. Send J.P. Morgan & Chase Manhattan to their offshore tax retreats, include BankAmerica and all the banking terrorist lobbyists. Some homes are shown being destroyed without ever being lived in this crazy country. Return America to house raisings free of charge and free of all banksters mortgages.