2016 Postmortem

The Velveteen Ocelot

(130,701 posts)

86. Maybe someone else should educate themselves.

Mon Dec 28, 2015, 06:23 PM

Dec 2015

It's true that mortgages are secured by the property while student loans are not secured by any tangible asset; however student loans, unlike virtually every other debt, are not dischargeable in bankruptcy. If a homeowner defaults on their mortgage the bank can get the house back; this is true even if the homeowner files bankruptcy, which typically discharges all of their unsecured debts, like credit card debt. All of their unsecured debts except for student loans . Those will follow you forever. Even your Social Security can be garnished if you have unpaid loans when you retire. http://www.marketwatch.com/story/when-your-social-security-check-disappears-because-of-an-old-student-loan-2015-06-25 So to say that lower interest rates for mortgages than for student loans can be justified because mortgages are secured debts and student loans are not is absurd. If a debt can never go away and can be paid by your Social Security check 30 years later it's as effectively "secured" as a mortgage.

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It's pretty scary that Bernie can't distinguish between secured and unsecured loans [View all] Cali_Democrat Dec 2015 OP

WOW -government secured - no out for bankruptcy - some kettle talking to the pot SoLeftIAmRight Dec 2015 #1

baby jane enid602 Dec 2015 #97

It's a meme motherfuckers! Strap in! Gonna be another bumpy ride! Ed Suspicious Dec 2015 #2

I'm wearing kilt! Gregorian Dec 2015 #8

I've got a spare strap in my sporin JackInGreen Dec 2015 #12

Viva la Relovution! Gregorian Dec 2015 #45

Ha! You made me google sporin! Thank you, btw :) I liked the jangly ones! ebayfool Dec 2015 #101

A meme? That's what you are calling straightforward FACTS these days? Nitram Dec 2015 #15

I laughed...yeah, it's another meme, but passiveporcupine Dec 2015 #64

You really think he doesn't know the difference? Or do you think he is trying to make a point. randys1 Dec 2015 #3

I'm pretty sure he is attempting to make a point (and knows the difference) ... 1StrongBlackMan Dec 2015 #30

What is facially simplistic language? Speaking without using much facial expression? DisgustipatedinCA Dec 2015 #128

That is a stupid response ... I don't use spell check on message boards, especially when typing ... 1StrongBlackMan Dec 2015 #133

Thank you. nt SusanCalvin Dec 2015 #72

It's the entire practice of crippling the young he's confronting, not only the damn interest appalachiablue Dec 2015 #75

I dont think anybody misses the point, I think there has been a wholesale, ALL DAY LONG everyday randys1 Dec 2015 #76

Yeah I slipped for a minute. The meme has been circulating for a couple days appalachiablue Dec 2015 #93

Yes it is market driven treestar Dec 2015 #4

You might refi at 3% but the clock starts over, you pay many thousands in fees, etc. ucrdem Dec 2015 #5

refi's are very personal. NCTraveler Dec 2015 #7

True ... Our re-fi deal was great ... 1StrongBlackMan Dec 2015 #34

I refinanced 4 years ago.... Adrahil Dec 2015 #104

CU is another item where I believe he could use an advisor. nt. NCTraveler Dec 2015 #6

Maybe he could use one Hillary's donors? Loudestlib Dec 2015 #61

Another failed attempt to slam Bernie. Let me introduce you to Guaranteed Student Loans aikoaiko Dec 2015 #9

Bernie never mentioned secured government loans. Cali_Democrat Dec 2015 #13

OFFS. eggplant Dec 2015 #56

And homes that were refinanced a few years back are several leagues under the sea... Human101948 Dec 2015 #57

There's this proposed experiment Plucketeer Dec 2015 #92

Guaranteed is not the same thing as secured anigbrowl Dec 2015 #96

Elizabeth Warren has a similar position. Eric J in MN Dec 2015 #10

If blocked by Republicans then this should be motivation to go and vote the Thinkingabout Dec 2015 #66

scary that Hillary supporters think the market rules everything Enrique Dec 2015 #11

I suggest you take a basic macroeconomics course. eom MohRokTah Dec 2015 #18

Says the grave dancer. n/t Gore1FL Dec 2015 #90

. MohRokTah Dec 2015 #91

Says the grave dancer. n/t Gore1FL Dec 2015 #94

. MohRokTah Dec 2015 #95

Says the grave dancer. n/t Gore1FL Dec 2015 #122

. MohRokTah Dec 2015 #124

Says the grave dancer. n/t Gore1FL Dec 2015 #125

. MohRokTah Dec 2015 #126

I do believe it means many of us will NEVER FORGET. DisgustipatedinCA Dec 2015 #129

. MohRokTah Dec 2015 #130

Your only argument is that another poster should take a macroeconomics course. DisgustipatedinCA Dec 2015 #132

Says the grave dancer. n/t Gore1FL Dec 2015 #134

So third way. MohRokTah Dec 2015 #135

Excellent! Cha Dec 2015 #137

Check your PMs. eom MohRokTah Dec 2015 #139

Says another grave dancer n/t Gore1FL Dec 2015 #150

If you mean because someone was advocating others not to vote for the Dem Nom because they Cha Dec 2015 #156

Nope. Gore1FL Dec 2015 #159

Skinner knew what he was doing. Too bad the poster thought he was special and didn't need to Cha Dec 2015 #165

Let's step through this, because you seem slow on the uptake Gore1FL Dec 2015 #167

Kicking this thread.. "It's pretty scary that Bernie can't distinguish between secured Cha Dec 2015 #169

Not sure what this has to do with your grave dancing Gore1FL Dec 2015 #170

KICKING THIS THREAD!!!! Hey Cali! Cha Dec 2015 #171

Says another grave dancer n/t Gore1FL Dec 2015 #172

KICKING thread! Cha Dec 2015 #173

OK Gore1FL Dec 2015 #174

Says the grave dancer. Gore1FL Dec 2015 #142

. MohRokTah Dec 2015 #144

Says the grave dancer n/t Gore1FL Dec 2015 #147

I've always enjoyed attracting cyber stalkers. eom MohRokTah Dec 2015 #151

Like flies to shit, I suspect. n/t Gore1FL Dec 2015 #161

Results... Major Nikon Dec 2015 #162

Thanks Gore1FL Dec 2015 #164

He can just keep this play going afaic. lol Cha Dec 2015 #157

Haahaahaa. Someone is annoyed. Sheepshank Dec 2015 #180

Yeah. People who grave dance make DU suck. Gore1FL Jan 2016 #181

HAHA.. Skinner Does Rock! No doubt about it. Cha Dec 2015 #136

Says another grave dancer n/t Gore1FL Dec 2015 #149

Skinner ROCKS~ Cha Dec 2015 #158

He is good guy from what I have seen. You, however are a grave dancer. Grave dancing makes DU suck Gore1FL Dec 2015 #160

Typical personal insults. Cha Dec 2015 #166

I didn't insult you Gore1FL Dec 2015 #168

This country USED to have LOW INTEREST govenment loans for college Matariki Dec 2015 #14

In the United States of Amnesia most people don't remember anything Proserpina Dec 2015 #52

It's depressing to see Democrats arguing like Republicans Matariki Dec 2015 #77

In undergrad at Florida Atlantic University, I paid 3% (1976-Pres.Carter) and it was insured FDIC Duval Dec 2015 #70

Its still pretty low (4.8% on mine), but the net cost has become the real problem bhikkhu Dec 2015 #109

A system for indentured servitude Matariki Dec 2015 #111

+Infinity! - nt KingCharlemagne Dec 2015 #113

It's even scarier when you stop to think his entire reason for running is the economy. MohRokTah Dec 2015 #16

Oddly, though... ljm2002 Dec 2015 #41

The Budget is quite a different animal from the economy. eom MohRokTah Dec 2015 #42

Are you serious? ljm2002 Dec 2015 #47

^^^ this ^^^^^ eom Karma13612 Dec 2015 #117

I am completely serious. MohRokTah Dec 2015 #118

Says the grave dancer - nt KingCharlemagne Dec 2015 #114

I don't think the comment has anything to do with secured or unsecured loans. Vinca Dec 2015 #17

Bernie Sanders, economic illiterate Enrique Dec 2015 #19

The Weekly Standard? ljm2002 Dec 2015 #43

Sorry, you are wrong. notadmblnd Dec 2015 #20

Pretty scary that Hillary supporters don't know the difference between facts and bullshit. Scuba Dec 2015 #31

I'll say. notadmblnd Dec 2015 #38

Why do you think they're Clintontologists? Fuddnik Dec 2015 #65

ON the other hand, not surprising. Duval Dec 2015 #73

But yet she's at 60 percent and Bernie still can't seem to hit 30 percent support yeoman6987 Dec 2015 #79

This is not entirely true. missingthebigdog Dec 2015 #152

Bernie Sanders cements his imbecile status with this Tweet Enrique Dec 2015 #21

And yet when I was in college, the student loan rate was 3% and the 1monster Dec 2015 #154

How the eff does that quote show he doesn't know the difference between secured and unsecured loans? merrily Dec 2015 #22

Good retort! nt ladjf Dec 2015 #33

Thanks. merrily Dec 2015 #141

Bernie Sanders tries and fails to explain economics on Twitter Enrique Dec 2015 #23

Secured by what? The home loans are no longer mmonk Dec 2015 #24

Where do you get that from ... 1StrongBlackMan Dec 2015 #36

CDOs are pooled debt obligations. mmonk Dec 2015 #40

I know, very well, what CDOs are ... 1StrongBlackMan Dec 2015 #44

The lender is off the hook. These are not straight mmonk Dec 2015 #55

What part of I know about CDOs are you not understanding? 1StrongBlackMan Dec 2015 #100

The op claims home loans are securitized by the property mmonk Dec 2015 #116

By law, home loans are securitized by the property ... 1StrongBlackMan Dec 2015 #120

Everything was changed actually. mmonk Dec 2015 #143

Okay. n/t 1StrongBlackMan Dec 2015 #146

Example mmonk Dec 2015 #68

Back in the day... ljm2002 Dec 2015 #46

As I said, I know the what and how of CDOs ... 1StrongBlackMan Dec 2015 #48

And still, the incentives... ljm2002 Dec 2015 #49

+1 mmonk Dec 2015 #83

LOL no anigbrowl Dec 2015 #98

I'm fully aware of how foreclosures work. I've mmonk Dec 2015 #145

So you favor very high interest on educational debt while other developed nations don't even Bluenorthwest Dec 2015 #25

I knew this argument smelled of phony RW "economics" Enrique Dec 2015 #26

Love your posts on this thread. Luminous Animal Dec 2015 #35

Since students loans are non-dischargeable in BK, they are in essence secured--by future earnings. n Romulox Dec 2015 #27

Not to mention insured by Uncle Sam. Hassin Bin Sober Dec 2015 #67

Example of exhorbitant late fees: I paid off my student loan after the laws regarding 1monster Dec 2015 #155

Certainly. Dawson Leery Dec 2015 #28

I disagree with the premise of your OP. nt ladjf Dec 2015 #29

Your basic assumption is faulty and is your belief that student loans are not secured. Scuba Dec 2015 #32

Oh yes I'm sure that the ranking member... ljm2002 Dec 2015 #37

It's like you aren't even trying anymore tularetom Dec 2015 #39

Thanks for informing us on your lack of understanding of loans. Cassiopeia Dec 2015 #50

Chase must not know the difference either. Fuddnik Dec 2015 #51

This OP goes on ignore. ViseGrip Dec 2015 #53

If you don't know what you're talking about shawn703 Dec 2015 #54

No more scary than Hillary's "understanding" of encryption. Warren DeMontague Dec 2015 #58

do you REALLY want to bring MORE attention to the loan-driven death trap that is most Americans' MisterP Dec 2015 #59

Of course you are scared Kalidurga Dec 2015 #60

Bernie can recognize a millstone around someone's neck wolfie001 Dec 2015 #62

you can't default on a student loan Pharaoh Dec 2015 #63

He was talking about SENSE. He knows the diff. But student loans are INVESTMENT in USA future! nt Bernardo de La Paz Dec 2015 #69

Even after the edit, you still don't know what you're talking about. Fuddnik Dec 2015 #71

+1 darkangel218 Dec 2015 #84

It's pretty scary that you can't distinguish between interesting things to post and fasttense Dec 2015 #74

Lame, lame, lame... chervilant Dec 2015 #78

It really is Lame - but then, most memes are. truedelphi Dec 2015 #110

Are you sure you're not a Republican? Matariki Dec 2015 #80

they sure don't seem to understand how loans affect us proles--how car and student debt even work MisterP Dec 2015 #99

I'm seeing people arguing for HIGHER interest loans for students Matariki Dec 2015 #102

on hearing that there's 57K homeless college students their response would be "people should pay MisterP Dec 2015 #107

My own personal feeling is that student loans should be from the US government with no interest. Agnosticsherbet Dec 2015 #81

Oh, no hun. darkangel218 Dec 2015 #82

National default rate on student loans made by the government fell to 11.8% BlueStateLib Dec 2015 #85

Maybe someone else should educate themselves. The Velveteen Ocelot Dec 2015 #86

Thank you. House of Roberts Dec 2015 #177

Weak poutrage, even by OP's low poutrage standards. morningfog Dec 2015 #87

I saw that a said WTF... Historic NY Dec 2015 #88

Way to miss the point. blackspade Dec 2015 #89

He's Amateur Hour RandySF Dec 2015 #103

The changes in bankruptcy laws made student loans almost undischargeable bhikkhu Dec 2015 #105

This is much scarier. earthside Dec 2015 #106

IF people on DU had been well informed about the economy and all economic realities, they truedelphi Dec 2015 #108

It's pretty scary that you regard student loans as in KingCharlemagne Dec 2015 #112

In California in the 70s, it was possible to get a free college education. I did. I went to libdem4life Dec 2015 #115

wow, you can't seem to understand a simple comment. Perogie Dec 2015 #119

It is about priorities, not securities. Motown_Johnny Dec 2015 #121

LOL !!! WillyT Dec 2015 #123

You're dishonest to suggest this hinges on whether the loan is secured or not. DisgustipatedinCA Dec 2015 #127

pretty scary for you that you queen will never sit on the throne.....you desperation is hilarious!!! bowens43 Dec 2015 #131

Haha.. can't debate so starts talking about "queen on a throne".. LOL Desperate! Cha Dec 2015 #138

There are plenty of reasons to try and lower student loan interest rates.... Sheepshank Dec 2015 #140

Oh, He understands alright. Hiraeth Dec 2015 #148

I think what you may be missing d_r Dec 2015 #153

Your title is SILLY... and I don't believe for a minute that... ReallyIAmAnOptimist Dec 2015 #163

.. Cha Dec 2015 #175

It's disingenuous My Good Babushka Dec 2015 #176

These student loans have in the past and should continue randr Dec 2015 #178

It is obvious Hillary supporters are nervous. They INdemo Dec 2015 #179