Richard Thaler Quotes

People are less likely to think it's immoral to walk away from their home if they know others who have done so. And if enough people do it, the stigma begins to erode.

Foreclosure is nothing new. And it certainly will always be a fact of life for some.

I know what it's like to have a house repossessed... I've been there.

You never cash out a 401(k) or IRA to pay off debt, unless it's to avoid a foreclosure or bankruptcy.

I'm short-selling my house. I have more loans than I can sell the house for. The house will not go into foreclosure. It will be a short sale. I can't afford the house as I once could.

I rescue families who are losing their homes because they have no jobs and they can't pay the mortgage and the banks are foreclosing on their homes.

We are broke—bankrupt—really bankrupt!

How about we all stop paying our mortgages! It's a moral hazard.

Creditor. One of a tribe of savages dwelling beyond the Financial Straits and dreaded for their desolating incursions.

Both on an individual and a national scale, debt imprisons.

Anybody who has ever been in business, anybody who has ever paid bills, anybody who has ever lived in a serious adult life knows that indebtedness is a killer.

My father lost his business. Our house was locked up, and we had to leave.

Every day there are homeowners in California who will either receive relief so they can stay in their home, or will be in the foreclosure process and potentially lose their home. And that always weighed heavily on my mind.

Consumers going through foreclosure typically will see their credit scores drop, raising longer-term questions about their ability to rebound financially and perhaps pursue a more sustainable home purchase at some later point.

Millions of Americans were duped by the federal government and the Federal Reserve into buying homes they could not afford and failed to count the cost. When the financial crisis of 2008 hit, they could not keep up the monthly mortgage payments and defaulted.

Garnishments tend to happen when people hide from their debts and stop making even minimum payments. Eventually, creditors sell the debt to a collection agency.

Creditors have better memories than debtors.

It's an open secret that if a debtor is willing to wait long enough, he can probably get away with paying almost nothing, as long as he doesn't mind hurting his credit score.

If it isn't the sheriff, it's the finance company; I've got more attachments on me than a vacuum cleaner.

Within a few months in 2008, household finances were crushed as asset values fell, millions of jobs were lost, countless credit cards were canceled, and thousands of homes were foreclosed on.

The decline in home equity makes it more difficult for struggling homeowners to refinance and reduces the financial incentive of stressed borrowers to remain in their homes.

The problem with not saving is it can often mean you're - a crisis away from, as we've seen in some cases, living in your car or losing your home or - having your lights shut off.

Distressed properties are often vacant and in disrepair, and thus sold at significant discounts. As the share of distressed sales grows, home prices fall.

The evergreen story of people in debt becomes even sexier in an economic downturn, when debts inevitably get harder to pay.

When I was in art school, there was a stigma attached to coming from comfortable suburbia. If you were from Great Neck, Long Island, you couldn't be a 'real artist', so I found crafty ways of implying that I was from New York.